HLB Gross Collins, P.C. Teams with Insurance and Law Firms to Update Contractors on Economic Trends

Atlanta, June 12, 2008 - Roger Tutterow, Ph.D, professor of economics at Mercer University, updated building contractors on the state of today�s tumultuous domestic economy at a luncheon sponsored by HLB Gross Collins, P.C., an Atlanta-based full-service certified public accounting and consulting firm; Chamberlain Hrdlicka, a diversified business law firm; and Sterling Risk Advisors, a commercial insurance brokerage firm.

Dr. Tutterow noted that the residential real estate correction was deeper than most expected, but predicted that the pace of sales should bottom out over the next few quarters. "We will be well into 2009 before the economics justify any pickup in Georgia�s new home construction," he noted.

He also predicted that for commercial real estate, the second half of the year will pose some challenges, although industrial properties are probably in the best position, with the continuing flow of products through the state, due in part to the ports, rail lines and airfreight facilities.

"Over the past few years, Atlanta has enjoyed a strong surge in commercial real estate development," he said. "The most successful executives will take a break on new projects to allow the recently completed properties to be absorbed, focus on containing overhead costs and reducing debt, and concentrate on developing stronger relationships with mature, credit-worthy businesses that can absorb product during the next construction cycle."

A Georgia native, Dr. Tutterow holds a Bachelor of Science degree in Decision Science from Berry College and a Masters and Doctorate in Economics from Georgia State University. He has previously held faculty and administrative appointments at West Virginia University, Georgia State University and Kennesaw State University.

"This is a difficult time for contractors in today�s down economy, and we are pleased that we could present information by an economic professional whose expert analysis of today�s economic, business and political environments can help them navigate successfully through these tough times," said HLBGC Partner Michael Bohling, CPA.