Hill International takes hit on Middle East exposure

Hill International Inc.'s chief executive officer, Irvin Richter, has had to deal with investors who think construction projects and the Middle East are a scary combination.

Hill's "exposure to the Mideast has given people pause," said Timothy McHugh, an analyst at William Blair & Co. L.L.C.

Hedge funds, in particular, have dumped the company's stock, making its 39-percent drop one of the steepest among local companies in the first half of 2009.