Saw this on the news. Sounds like an inside job or at least someone knew this building a bit.
http://6abc.com/news/police-thieves-...-copper/91653/
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Saw this on the news. Sounds like an inside job or at least someone knew this building a bit.
http://6abc.com/news/police-thieves-...-copper/91653/
Last edited by Mechanic688; 06-04-2014 at 09:13 PM. Reason: added clickable link
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Wow couple days of work ! Lived in Philly myself for about 10 years. Going to keep up with this story
Metal Recycling Entrepreneur
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wow 3.50 a lb but comex is only 3.09...wish i could get news prices lmao!!!
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Yeah id like to know where theu are getting 3.50 for it.
The spot price of copper hasn't even been near 3.50 in over a year lol
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Will be highly surprised if it is recovered local. That material is already in a container at sea, or in another state. jus my thoughts.
Metal Recycling Entrepreneur
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Yeah, the news guys are pretty clueless.
"2 to 8 guage wire". Unh, what? More like #2 to 500MCM wire!!
"700 to a million to replace". Depends on what the sparky who said this was meaning: to fix back up the way it was before it was trashed, or to provide a pile of cable in the middle of the floor large enough to fix the damage, WITHOUT installation costs factored in. A million bucks of raw cable is a lot of cable, and from what they've shown us, the thieves gutting a few motor control centers. And they took the time to strip at least some copper out of the insulation, so they weren't feeling very rushed.
From what I've seen the copper might be worth a few 10s of thousands at the going scrap rate. The big cost is to repair the damage.
To be much more than that in just a couple of days of demolition would involve more than a couple of guys and would need a truck or two and a machine like a Bobcat or something.
Just my 2 cents...at spot market value!! ;>)
Jon.
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The "$700K to $1M" number no doubt comes from the material and labor to hire a certified crew of journeymen electricians.. to re-do the work!
It is similar to when the news says "Thieves make off with THOUSANDS of dollars worth of catalytic converters" Then in the same sentence tell how it will cost $1000 to replace.. the thief didn't get a $1000 converter.. they caused $1000 in replacement cost damage"
Last edited by sledge; 06-04-2014 at 09:03 PM.
I'm so into scrapping.. When my Steel Toe Boots Wear out, I cut the Steel out of them and recycle the Toe!
Metal Recycling Entrepreneur
Could be the electrical contractor that initially installed the wiring wants the job of replacing it again.
I am pretty sure the kids that destroyed my car dash 20 years ago to rip out my stereo system worked for the stereo shop that installed it, which also happens to have contracts with my insurance company to replace it. The stolen parts are not worth anywhere near the cost of replacement let alone damage to the car itself. There are quite a few businesses that get their copper plumbing and wiring stolen making reusing the property not worth the effort.
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$1 Million worth of copper stolen. LOL I been in the television/local news industry for nearly half my life. They most likely ran promos all day/night long saying the same. TONIGHT AT 11!! $1 MILLION DOLLAR HEIST at local business!!! Yeah, it was a big haul for the despicable thieves, but sensationalize much?!?!
Money is not the root of all evil, the love of money is.
When there is a story to run, don't ever let facts get in the way.
Metal Recycling Entrepreneur
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Being that it's Philly, that would most likely be the International Brotherhood of Electrical Workers union. These guys don't come cheap.Originally Posted by unknownk
Not sure any commercial electrical work can be done non-union in the city. Philly is crazy like that.
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