Builder Catalfumo faces $100M in debts

Once a titan of South Florida’s construction industry, builder Dan
Catalfumo is now facing more than $100 million in debts, with an
onslaught of lawsuits by lenders. Catalfumo, many of whose longtime
employees have already left, always managed to find his way into the
papers. “You rise hard and fast, you fall hard and fast,” said one
industry observer. In written responses, Catalfumo wouldn’t confirm the
number of employees still on the payroll, but said reductions would help
the company. “If you do not react to the reality and reinvent your
business to match market conditions, you are as doomed as a dinosaur,”
he wrote. [Palm
Beach Post]