Design is really clean and smart. There are some details I would consider to enhance.
Menu font looks a bit crowded, to tightly spaced.
Contact us / site map / links - Would be fantastic to add some nice and crisp icons.
Newsletter box could be more eye-catching
Typo in the big banner (especially those 4 vertical shaded links) is a bit hard to read. Maybe sanserif would be nicer?
All in all really good design! I'm sure the client will love it! Good luck!
I agree that the character spacing could be not so tight. Another font choice might also fix that.
The Contact Us and Sitemap/Links seems just kind of "stuck on". Is there maybe another way to incorporate it into the navigation?
Other than that minor adjustment, it is a very well done site, both in organization of content, of which there seems to be a lot, and the overall design.
The background image is cut off too abruptly. Bleed it up more and fade it out.
The icon set is too casual (and too common and overused). Try looking for a more professional looking set.
The panels on the right column seems to have lost their header text. The placement and design of the header text there needs to be better incorporated into its related content.
Lastly, the yellow highlight in the footer has too much padding. Keep it simple with roughly 2px - 3px padding all around.