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F.N.E. Holdings, LLC, Irvine, Calif.,parent of the Fieldstone Group of Companies, on August 10 named C. Alan Arthur president and COO, succeeding Chad Ogden. Arthur had been exec vp and CFO since 2007 and had been running the Utah and Texas home building divisions for the past two years. Earlier...
Despite a down economy, Boston-area custom builder/remodeler Finley Perry's business succession plan is right on track.
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The Associated Press' Dave Carpenter reports on how the disappearance of pensions, the failure to save, the underperformance of 401(k) programs, and the deflation in housing will hit baby boomers on the verge of retirement: Hard.
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Ashton Woods' board of directors has elected a new chief executive to replace retiring Tom Krobot. Kenneth S. Balogh, the company's COO, will become the new CEO on Jan. 1. In order to have an orderly transition, Krobot, 63, who has been Ashton Woods' president and CEO since 1995, will remain at the...
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Orleans Homebuilders plans to be out of bankruptcy reorganization before year-end 2010, the company reported Wednesday. A bankruptcy court judge has signed off on Orleans' disclosure plan, sending its reorganization plan off to creditors for a vote. A hearing for the court's approval of the plan is...
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Its merger complete and integration on track, PulteGroup has begun to "flatten" the company's structure with the retirement of executive vice president and COO Steven C. Petruska. CEO Richard J. Dugas Jr. will take on Petruska's duties. Dugas served as Pulte's COO from 2002 to 2003.
20-year company veteran expects to pick up where his mentor, Bob Toll, is leaving off.
Over 18 months, the Los Angeles area custom builder organized its departments and employees to give each more authority.
Arizona's Artisan Homes founder Eric Brown is taking over a restaurant in St. Maarten.
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Restructuring of ESOP builder would leave employee-investors with nothing and give founding family, which lent the firm millions, sole ownership.
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If Mercedes' reorganization plan is approved, employees stand to lose all their equity in the Employee Stock Ownership Plan, while the Buescher family, which owns 44% of the ESOP shares, will keep ownership in the company because over the last few years they have converted much of their stock in...
The man likely responsible for developing more multifamily housing than anyone else in the country is retiring. Ron Terwilliger, who estimates that he has built nearly 250,000 units of housing during his 30-year-plus career, will step down as chairman of Dallas-based Trammell Crow Residential (TCR)...
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Mercedes Homes announced today that it has struck a deal with its creditors and hopes to emerge from Chapter 11 bankruptcy by the end of September, eight months after filing for court protection.
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The Pulte-Centex combine looks more like an outright buyout based on the roster of executives who will run the merged company, all Pulte veterans save Centex CEO Tim Eller, who will serve as vice chairman and serve on the board and as a consultant for two years once the deal is closed. As expected...
The Washington State builder may be a small operation, but it has adopted best practices of volume builders
Distressed companies are trying to figure out the pros and cons of declaring bankruptcy.
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Pulte Homes, Toll Brothers, and D.R. Horton have exited Phoenix's Desert Ridge project, giving back approximately 689 acres of land purchased from the Arizona State Land Department for $82.5 million.
Strapped for cash, banks put the squeeze on builders.
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Company seeks to exit bankruptcy by early next year, nearly $2 billion lighter in debt and reorganized under a new corporate entity controlled by unidentified "financial players on Wall Street" who invest in distressed entities, the company's CEO John R. Boken said Tuesday.
Game plan for failing builders: Shut down operations to wait for a better future.