Wm Lyon's Share Purchase Sequel Hardly a year since William Lyon, CEO and founder of his eponymous home building company, backed out of an $82 a share cash offer to buy back minority stocks under threat of legal action, and he's back at it again. Only this time, he's upped the ante, betting that softening stock prices will also work in his favor.
On March 17, Lyon announced his offer to purchase all outstanding shares of common stock for $93 per share in cash, minus interest and withholding taxes. If the offer flies, he may be able to take the company back into private ownership.
Lyon controls 4,115,437 shares of the company's common stock, about 47.6 percent of the home building company's outstanding common stock and giving him 50.4 percent of the total voting power.
Wieland and Weekley's Training Day David Weekley Homes joined John Wieland Homes and Neighborhoods as the only home builders on Training magazine's 2006 list of “Top 100 Training Organizations.” In its fifth year on the list, Wieland climbed 20 spots from last year to earn a ranking of 34. Weekley debuted at No. 76.
The list was culled from multi-tiered nominations supported by applications and interviews. The magazine evaluated each firm based on various business metrics tied to training. Ranks were determined by the degree to which training programs affected a company's core business objectives and improved the company's competitive edge.
St. Joe Presents “FloridaWild” The St. Joe Company added a new real estate product to its New Ruralism portfolio, which includes land plans that preserve the environmental integrity of the region. As part of the FloridaWild program, the developer will sell undeveloped land parcels in Northwest Florida for conservation and recreational purposes. Parcels will range from 40 acres to several thousand acres and cost approximately $2,500 to $9,500 per acre.
Other New Ruralism products include Woodlands, RiverCamps, WhiteFence Farms, and Florida Ranches.
Paramount Goes Custom Paramount Fine Homes, a Richardson, Texas-based builder, launched a new high-end division, Griffin Customs. The company says the new division, which will offer homes priced from the $300s to $1 million, was a necessary progression to meet the demand for move-up homes. Home sites for the new division are under development in Rocky Creek Ranch, a 1,800-acre community south of Ft. Worth, Texas.
Lewis Homes Co-Founder Dies Goldy S. Lewis, 84, who co-founded Upland, Calif., builder Lewis Homes with her late husband Ralph M. Lewis, died March 14, 2006, at San Antonio Community hospital in Upland.
The two started Lewis Homes in 1955. By 1999 when the company was sold to Kaufman and Broad, now KB Home, it had constructed more than 60,000 homes and apartments, with roughly 25,000 of them in Nevada. Throughout her life, Lewis was involved in numerous philanthropic organizations and was especially committed to advancing projects dealing with health, education, and children.