Toll Brothers CEO Bob Toll told analysts today that the company doesn't see many signs that the market is improving, but is hopeful that recent Fed interest rates cuts and the Fed's determination to slow the downturn and solve the credit crisis along with the economic stimulus package should help housing recover.
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Share price rose more than 15% during three-week period when Bob Toll sold 1.37 million shares.
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As Toll Brothers' profits continue to slide, the company's CEO Robert I. Toll says the luxury home builder will get back on track, reducing home production by building to order.
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Toll Brothers CEO recently told Jim Cramer that deposits to buy new homes have increased in the last five months.
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Article |
03-13-2008
Despite objections by proxy group, shareholders give OK to new cash bonus plan.
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Bob Toll: Buyer traffic remains "dismal," but land prices have dropped far enough to warrant evaluating deals again.
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People |
02-01-2008
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CEO Toll sees "glimmers of hope" in Naples, Fla., and suburban D.C., market, but is still waiting for 35 other markets to come back.
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Luxury builder expects to deliver more than 4,000 homes in 2008.
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Institutional group says nearly half of shareholders voted against controversial bonus plan in March.
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