Like their private counterparts, public builders are doing whatever they can to survive the downturn, according to our colleagues at Big Builder Online. Here’s a roundup of the latest public builder news:
Avatar, a small public builder based in Florida, recently sold a handful of lots to two new joint ventures. The strategy should result in tax benefits for Avatar without completely losing the ability to build on that land.
KB Home released its fourth-quarter financials last week, announcing that the company had lost more than $307 million. But company leaders have high hopes for a new, smaller, lower-cost product intended to compete more aggressively with the bargain-priced existing homes available in so many markets.
On the corporate ladder front, Beazer has hired Kenneth F. Khoury as its new general counsel.
Finally, as we reported yesterday, Lennar has been dealing with accusations of fraud by a former white-collar-criminal-turned-corporate-crusader. While analysts seem to think the charges are unfounded, the allegations have not been kind to Lennar’s stock price.
Earnings Reports
Standard Pacific Homes reports fourth quarter, 2011 earnings.
Land Acquisition
Legal Issues
WASHINGTON - Arizona, Michigan and Florida, three of the states hit hardest by the...
Avatar
Avatar closed on 70 homes during the quarter, a 68.5% decrease from the 222 homes...
Beazer
Category 2 storm leaves more than 2.5 million people without power in three states.
KB Home
Lennar
The state’s economy remains weak, but home buyers aren’t as scarce as they were a year...
Alison Rice
The U.S. Senate on Monday voted 76-10 to advance the housing bill by limiting debate....
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