Richard J. Dugas Jr.

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Pulte Homes Sticks to Its Plan

Pulte Homes CEO Richard J. Dugas Jr. says he doesn't expect the housing downturn to end anytime soon-in fact, he doesn't expect the downturn to end until 2009. Regardless, Pulte will remain focused on goals the Michigan-based builder set as it entered the fourth quarter. More

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New-Home Sales Dip Again in June

One day after news that the rate of decline in existing home sales in June was double what analysts had expected, and as battered public builders continue to report plummeting sales and heavy losses, the Commerce Department estimated this morning that the sale of new homes was off by 22.3 percent in June to a seasonally adjusted annual rate of 834,000 units, compared to the same month a year ago. New home sales were also down by 6.6 percent from May. More

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Pulte Homes CEO: "Another Challenging Operating Period"

Pulte Homes reported a second quarter loss of $507.6 million for continuing operations today. This compares with the prior year second quarter income of $243.9 million from continuing operations. The enormous difference is a result of approximately $749.4 million of impairments and pre-tax charges from land-related transactions along with another $40 million in restructuring charges. Pulte's home building pre-tax loss is approximately $803.2 million, compared with 2006's pre-tax income of $380.8 million. The company says it will continue to focus on "reducing its land and speculative home portfolio, and properly adjusting overhead spending to navigate through this continued severe downturn." More

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Pulte Homes Slashes Jobs (Updated)

Pulte Homes announced Wednesday that a 16 percent slashing of its workforce is part of a companywide restructuring plan designed to reduce costs and improve operating efficiencies. "Despite reducing our workforce by approximately 25 percent in 2006 and early 2007, we find it necessary at this time to further reduce overhead expenditures, including, unfortunately, reducing an additional 16 percent of our jobs," Richard J. Dugas Jr., President and CEO of Pulte Homes, says. More

Dugas Takes the Helm
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Dugas Takes the Helm

By Lisa Marquis Jackson. Knowing it was critical to secure promotional space,... More

Low-Country Revival
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Low-Country Revival

When Del Webb opened Sun City Hilton Head in 1995, the community represented the... More

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