Balancing risks and rewards

Last week, half-a-world away, Irvin Richter, 69, was visiting clients in United Arab Emirates, Oman and South Africa, trying to nail down deals worth tens of millions of dollars to his construction consulting company, Hill International Inc., in Marlton.

The potential for reward is huge. So is the potential for risk. Ask Richter, Hill's chairman and chief executive, about trying to collect on a mostly unpaid $60 million bill from Libya.

"They've since paid us a couple of million and we expect to be paid more soon," he said.

Question: What type of work were you doing in Libya?

Answer: Two sites for Tripoli University; each one was getting a billion in renovations. Reviewing the cost estimates for 27 new universities, [reviewing] designs for 26 of them and then we were going to get involved in the construction of 24.

Q: So what happened?

A: They were having an internal battle between the prime minister and the president, so they stopped all payments.

Q: Eventually, they started paying you. Then what?

A: They had the Arab Spring and Moammar Gadhafi was overthrown while they were at war.

Q: What was he like?

A: Very quiet. He had charisma about him. You could tell there was a lot of strength about the man. I did not expect him to be overthrown.

Q: Your company is recovering now, with revenues and profits up - though not as high as they had been. That $60 million receivable really hurt.

A: Banks have been sticking it to us ever since. They charged us absurd prices to extend our credit line. They hammered us.

Q: Why?

A: Because they can and they're pigs.

Q: As a Jewish businessman, do you have any problems working in the Middle East?

A: Don't bring up religion. Don't bring up politics. Talk about the work you want to do for them and why you are the best company in the world to do that work. That they understand.

Q: You announced last year that you plan to hire 1,000 people for a new factory in Camden making temporary shelters and other products. Any update?

A: In six months, we'll be close to raising the money we need. We're looking for $40 million to build out the factory. [Critics said] there are environmental problems and we hadn't gotten approvals. We weren't ready to start, so we hadn't been seeking approvals.

Q: Forty-five years ago, you spent six months in prison for a minor white-collar crime. Since then, you've been pardoned and your record expunged. What did you learn from that experience?

A: There are a lot of good people in prison. Nearly everybody that is there is there for drugs. You spend $60,000 or $70,000 a person - you could send them all to Harvard for that instead of locking them up.

Q: Did it change your attitude toward drugs?

A: I'm convinced that we ought to legalize drugs - legalize it all, manage it and oversee it.

Q: You say you plan to hire folks with records.

A: I came out and had a lot of problems getting a job. We don't hold that against anybody here. We want to know why, and if they lie, we hold that against them. We all make mistakes and you are entitled to another chance.

Q: Any advice for someone who wants to become a CEO?

A: Yeah, start a business.

Irv Richter on shopping for new corporate headquarters. www.inquirer.com/jobbingEndText

Title: Chairman, chief executive, cofounder, Hill International Inc.

Home: Cherry Hill

Family: Wife, Ann Marie; children, David, 47, Brady, 43, stepson David J. Compton, 25

Diplomas: Wesleyan University, government; Rutgers University Law School

Weakness: Buys gizmos sold on late-night television.

 What else: Current or past member of boards of Rutgers, Temple University, Construction Management Association of America.

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