- Voice: Two parties are to blame 0 Apr 12, 2009
Ian McCarthy, CEO of Beazer Homes accused of lying to lenders about borrowers qualifications. Frank Raines, president of Fannie Mae who has trouble with his accounting practices. (El Centro Imperial Valley Press, CA)
Home Builder Stocks Soar on Fed Action Mar 19, 2009
Beazer Homes USA (BZH) stock followed with a gain of nearly 27% to 95 cents. "That could be very good news for us," said Brent Anderson, vice president of investor relations for Meritage Homes Corp. (MTH), whose shares jumped 16% to $13. (SmartMoney)
Big builders hammered Mar 11, 2009
Beazer Homes showed the largest average price drop at 12 percent ... Beazer Homes -46% -12%4. (Nashville Business Journal, TN)
Hovnanian Loss Widens on Charges, Lower Sales Mar 11, 2009
Home builders including Beazer Homes USA Inc. (BZH), Ryland Group Inc. (RYL) and Toll Brothers Inc. (TOL) recently reported their net losses narrowed on fewer write-downs, but still saw revenue slump amid a drop in new home orders. On Friday, Moody's Investors Service lowered its corporate family rating on Hovnanian to highly speculative territory, saying the company's cash flow will weaken "considerably" this year and fall further in 2010. (SmartMoney)
Beazer could face stock delisting warning Feb 25, 2009
The stock price of Beazer Homes USA has fallen off the cliff. Since Feb. 12, shares of the Atlanta-based home builder have been trading below $1. (Atlanta Journal-Constitution -- Business)
Housing tax credit a disappointment to builders Feb 14, 2009
Executives for one major builder, Beazer Homes USA Inc., noted earlier this week that they had seen an uptick in traffic over the weekend as many prospective buyers learned of the Senate's original incentive provision. But with that proposal gone, Wall Street analysts said the homebuyer provision will have a negligible effect on homebuilders' fortunes. (San Francisco Chronicle -- Business)
Builders remodel local units Feb 11, 2009
Trish Hanchette, Raleigh division president of KB; Keith Wood, vice president of Standard Pacific s Raleigh division; and Tom Sewitsky, Raleigh division president for Beazer Homes, have all left their jobs since early December ... and Beazer Homes in Atlanta ... At Beazer Homes, Sewitsky left in January, but company officials did not respond to calls for an update about his replacement. (Raleigh Triangle Business Journal, NC)
New faces grace residential scene Feb 10, 2009
Trish Hanchette, Raleigh division president of KB; Keith Wood, vice president of Standard Pacific s Raleigh division; and Tom Sewitsky, Raleigh division president for Beazer Homes, have all left their jobs since early December ... and Beazer Homes in Atlanta. (Raleigh Triangle Business Journal, NC)
SEC Reaches Deal With Madoff Feb 10, 2009
Beazer Homes USA said its fourth-quarter loss narrowed to $80. 3 million from $138. (Washington Post)
Beazer reports smaller losses Feb 10, 2009
Beazer Homes reports lower loss ... Beazer Homes reported sharply lower first-quarter revenues and home sales Monday compared to the same period the previous fiscal year. (Atlanta Journal-Constitution)
Wall Street anxious for passage of stimulus Feb 9, 2009
Homebuilders Beazer Homes USA Inc. and Toll Brothers Inc., and beverage makers Molson Coors Brewing Co., Coca-Cola Co., and PepsiCo Inc. are among the companies reporting financial results. . (Atlanta Journal-Constitution -- Business)
Week-ahead business calendar Feb 9, 2009
Earnings reports expected from Beazer Homes, Euronext, Hasbro, Loews, Rohm and Haas, Whirlpool ... Earnings reports expected from Beazer Homes, Euronext, Hasbro, Loews, Rohm and Haas, Whirlpool. (San Francisco Chronicle -- Business)
Business Events Scheduled for the Coming Week Feb 7, 2009
ATLANTA Beazer Homes USA Inc. releases first-quarter financial results. PAWTUCKET, R.I. Hasbro Inc. releases fourth-quarter financial results. (ABC News -- Wire)
MARKET SNAPSHOT: Stocks Pin More Hopes On Stimulus, Rescue Plan Feb 7, 2009
On Monday, homebuilder Beazer Homes (BZH), chemicals maker Rohm & Haas (ROH) and home-appliance maker Whirlpool (WHR) are slated to report results. On Tuesday, results are due from telecom player Qwest Communications (Q) and chip-equipment maker Applied Materials (AMAT), followed by results from the bank Credit Suisse (CS) on Wednesday. (CNNMoney.com)
Be wary of in-house housing services Mar 30, 2008
-- Atlanta's Beazer Homes, another large builder that began funding its own loans during the boom and has since closed its lending division, is also being investigated by the North Carolina banking commissioner's office for alleged violations of federal lending laws. In the past year, Beazer's lending practices have also become the subject of investigations by the FBI, the Internal Revenue Service, the Justice Department, the inspector general of the Department of Housing and Urban Development... (San Francisco Chronicle -- Business)
Broken Home Market For U.S. Homebuilders Mar 29, 2008
Back in February, S cut Hovnanian's ratings, along with homebuilders Standard Pacific, Beazer Homes USA and Centex, to five levels below investment grade with a "B" rating. The company was previously rated B+ (See: " "). (Forbes -- Markets)
Another blow for Beazer: Bond rating downgraded Mar 27, 2008
A downgrade of Beazer Homes' bond rating Wednesday doesn't mean the Atlanta-based company is near collapse, but it does say concerns about its viability persist. Moody's Investor Service dropped Beazer's debt rating to "B2" from "B1," citing worries about lawsuits, investigations, murky finances and the generally poor state of the national housing market. (Atlanta Journal-Constitution -- Business)
Street Slows But Doesn't Stumble Mar 26, 2008
Heading into the close D.R. Horton (nyse: - - ) was down nearly 3%, and Beazer Homes USA (nyse: - - ) had slipped 5. The financial sector remained in focus, as the of Bear Stearns by JPMorgan Chase began to have an impact on other pending deals. (Forbes)
FBI mortgage probe examining 17 large firms Mar 19, 2008
Among companies implicated in FBI mortgage probes are Beazer Homes USA Inc. and Doral Financial Corp. A former Doral treasurer was indicted for investment fraud this month. He denied the allegations and the company declined to comment. (Globe and Mail)
Goodwill or Badwill? Mar 18, 2008
Some months back, before Mr. Market really turned on the housing and credit markets, I took a look at Beazer Homes (NYSE: BZH) to see if it was a bargain investment when it was trading at a fraction of book value. In my analysis, I valued the goodwill at zero, as the odds of paying anything for this intangible asset during these sour times were extremely low. (MSNBC -- Business)
Beazer may reduce activity Mar 1, 2008
Beazer Homes may reduce activity ... A trimmed-down, reorganized Beazer Homes may be headed for further alterations as the troubled, Atlanta-based homebuilder tries to reinvent itself in the worst housing market in decades. (Atlanta Journal-Constitution)
Where do mortgage funds go? Feb 25, 2008
Last year, HUD reached settlements with six large builders - Pulte Homes, KB Home, Beazer Homes USA, Ryland Group, Meritage Homes and Technical Olympic USA - for participating in captive reinsurance schemes that allegedly involved no real risk. All the builders denied wrongdoing. (San Francisco Chronicle)
Morehead site targeted for a warehouse/office project Feb 20, 2008
The six-story brick building is a few blocks west of Bank of America Stadium and near the townhome project proposed by Beazer Homes USA.. is asking the city to rezone the nearly 2-acre site to accommodate a self-storage facility. (Charlotte Business Journal, NC)
S&P Slashes Homebuilders Hard Feb 16, 2008
SHovnanian Enterprises (nyse: - - ), Standard Pacific (nyse: - - ) and Beazer Homes USA (nyse: - - ) deeper into junk territory. Beazer remains on review for further downgrade. (Forbes -- Markets)
Shareholder backlash emerges on subprime mess Feb 12, 2008
and home builders Beazer Homes USA Inc. and Ryland Group Inc. The proposals for the home builders seek details such as purchasers of the companies' loans. The Laborers withdrew the proposal at Ryland after the company agreed to adopt most of the proposal, the union says. (AZCentral -- Business)
Beazer to exit mortgage business, five markets Feb 9, 2008
The company has entered into a new marketing services arrangement with Countrywide Financial Corporation (NYSE: CFC), which means it will market Countrywide as the preferred mortgage provider to Beazer Homes' customers. Beazer also said that as part of a review of its business launched last July, it has decided that it will exit its homebuilding operations in Charlotte, N.C.; Cincinnati/Dayton and Columbus, Ohio; Columbia, S.C. and Lexington, KY.. (Nashville Business Journal, TN)
Beazer to exit Charlotte market Feb 4, 2008
The builder "is in the process of evaluating its current land holdings in the Charlotte market to determine the appropriate disposition," Thomas Bruce, president of Beazer Homes Charlotte, says in a written statement. The phone lines have been disconnected for half the sales centers of the company's eight active Charlotte-area projects listed on the Beazer Web site. (Charlotte Business Journal, NC)
Beazer Homes pulling out of five markets Feb 4, 2008
Beazer Homes USA, Inc. on Friday announced it will discontinue mortgage origination services and will pull out of five markets: Charlotte, N.C.; Cincinnati and Columbus in Ohio; Columbia, S.C.; and Lexington, Ken. The company will establish a new marketing services arrangement with Countrywide Financial Corporation. (Sacramento Business Journal, CA)
Beazer shrinks business, cuts more jobs to stay afloat Feb 2, 2008
Atlanta-based homebuilder Beazer Homes is getting out of the mortgage business and pulling out of five markets as it struggles to stay afloat in a sea of troubles. The beleaguered company announced Friday that it will end its mortgage-writing business and partner with national lender Countrywide to handle loans for its buyers. (Atlanta Journal-Constitution -- Business)
Business Briefs Feb 2, 2008
IAC trial Liberty Media Chair man John Malone will face off with IAC/ Inter ActiveCorp. Chairman Barry Diller in a battle to control the. (New York Post -- Business)
Scripps Health settlement gets preliminary OK Feb 2, 2008
Beazer Homes USA said it will no longer originate mortgages and will offer its buyers mortgage services through Countrywide Financial Corp. The Atlanta-based home builder also said it will stop building homes in several communities. Beazer will pull out of Charlotte, N.C.; areas around Cincinnati, Columbus and Dayton, Ohio; Columbia, S.C.; and Lexington, Ky. (San Diego Union-Tribune -- Business)
Beazer Cuts Back on Home Building Feb 2, 2008
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
Beazer Homes exiting mortgage business and several markets Feb 1, 2008
ATLANTA Homebuilder Beazer Homes USA Inc., which is under investigation in North Carolina, said Friday it will no longer originate mortgages and will offer its buyers mortgage services through Countrywide Financial Corp. ... The company will instead market Countrywide as the preferred mortgage provider to Beazer Homes' customers ... As for its financials, Beazer Homes said it currently expects its results for the first quarter of fiscal 2008 to include material charges to abandon land option... (The Daily Reflector)
Monday's Biggest Stock Stars Jan 30, 2008
There's a simple reason why I selected the largest five-star gainers, as opposed to other big-name winners making noise on Monday, like one-star homebuilders Hovnanian Enterprises (NYSE: HOV) and Beazer Homes (again). Stocks go up all the time, but unless you were able to predict the pop, what does it matter. (MSNBC -- Business)
Rate cut hopes lift Wall Street Jan 29, 2008
Shares of No. 6 U.S. home builder Beazer Homes USA advanced 22. 2 percent. (India Times)
Investors Tentative Ahead of Busy Week Jan 26, 2008
98, while Beazer Homes USA (nyse: - - ) closed at $7. 21, up 46 cents, or 6. (Forbes)
Beazer hammered Jan 24, 2008
UPDATED: 6:03 p.m. January 23, 2008 Beazer Homes reports decline in sales, orders ... Officials for Atlanta-based Beazer Homes acknowledged Wednesday the many challenges facing the troubled homebuilder and the uncertainty of the slumping economy. (Atlanta Journal-Constitution)
Homebuilders face another threat as auditor opinion forces covenant breaches Jan 24, 2008
Lennar Corp and Beazer Homes also use Deloitte for audits. Our interpretation [of Meritages release] is that Deloitte must be taking a look-back period whereas Ernst & Young is using a two-year look-back and a one-year look-forward, Berliner said. (FT.com -- Markets)
We're Too Gloomy Jan 21, 2008
Beazer Homes, my worst choice, was down 79. Best choice: Agrium (nyse: - - ), up 100%, as agricultural stocks did well. (Forbes)
Ashton Woods CFO lands at Beazer Homes Jan 19, 2008
Members: Not Registered. for free extra services. (Atlanta Business Chronicle, GA)
Accounting chief hired by Beazer Jan 19, 2008
Beazer Homes has hired Robert L. Salomon as its chief accounting officer and controller, the company said Friday. Salomon is the former chief financial officer for privately held Atlanta home builder Ashton Woods. (Atlanta Journal-Constitution -- Business)
Home Builders Cut Options to Stay Profitable Jan 11, 2008
Beazer Homes USA Inc. says it reduced its carpet offerings by 85 percent. Pulte Homes Inc. cut back to 400 floor plans from more than 2,000, and Centex Corp. cut its roughly 4,500 plans in half, with more reductions under way. (Realtor Magazine Online)
Thinking of spring training, Francoeur's future Jan 5, 2008
beazer homes will probably file bankruptcy within two months. By JeffersonBravesFan. (Atlanta Journal-Constitution -- Sports)
Street Set To Turn The Page Dec 30, 2007
Pulte Homes (nyse: - - ), D.R. Horton (nyse: - - ), and KB Home (nyse: - - ) dropped sharply, but the steepest fall came from Beazer Homes USA (nyse: - - ), which fell 6. 6%, losing 50 cents, to $7. (Forbes -- Markets)
Top Orlando home builders rise above slump; still $1B short Dec 25, 2007
The second 10 were Ashton Woods Homes, Morrison Homes, Beazer Homes, Cambridge Homes, Standard Pacific, Meritage Homes, Toll Brothers, Centerline Homes, DR Horton Homes and Mercedes Homes. According to Charles Wayne, the area's top 20 builders accounted for more than 86 percent of the total market for single-family house production in Orange, Seminole and Osceola counties. (Orlando Sentinel -- Entertainment)
Valley population grows more slowly Dec 20, 2007
Madera, like other counties, benefited from the housing boom in recent years, drawing transplants from the east Bay Area, said Walter Diamond, executive vice president of the Fresno division of Beazer Homes, one of the first national builders to stake a claim in Madera ... Beazer Homes sold its last Madera home lot in December 2006. (Fresno Bee -- Local)
No relief for US builders Dec 9, 2007
Beazer Homes USA Inc, Hovnanian Enterprises Inc, M/I Homes Inc, Meritage Homes Corp, Standard Pacific Corp hold BB ratings, the first ratings tier below investment grade. We do not see any sustained positive spread catalysts on the near-term horizon for the homebuilder sector and believe that most investors will remain short, with the view that little upside potential exists in the near term, while further downside 00003B43 remains much more likely, Barclays added. (India Times)
Risk-Aversion On Tap For Monday Dec 8, 2007
Beazer Homes USA (nyse: - - ) managed to pull out a gain Friday, rising 43 cents, or 4. 5%, to $10. (Forbes)
Wall St ends sharply higher Dec 6, 2007
Among the home builders, shares of Beazer Homes USA Inc, the No. 7 U.S. home builder, surged 6. 6 percent to $US8. (Sydney Morning Herald -- Business)
Beazer Homes CFO: Discounts but no fire sale ahead for buyers Dec 6, 2007
ATLANTA Beazer Homes USA Inc. will continue offering discounts to move inventory in a sluggish housing market, but financial and internal troubles aren't forcing the company into a fire sale, a senior executive said Tuesday. Chief Financial Officer Allan Merrill said at an investor conference in Orlando, Fla. (Atlanta Journal-Constitution -- Business)
U.S. housing slump expected to be worst since World War II Dec 3, 2007
Beazer Homes USA, the home builder under investigation by the U.S. Securities and Exchange Commission, and Hovnanian Enterprises are "bankruptcy risks," Wilson said. Those companies have too much debt and are exposed to slumping housing markets in Florida, Michigan, Indiana and Ohio, he said. (International Herald Tribune -- Business Asia)
Holiday events: Temecula's Old Town welcomes Santa each weekend though Dec. 24. Dec 2, 2007
A gift-wrap demonstration will be offered at Beazer Homes' "Unwrap a New Home for the Holidays" promotion from 2 to 5 p.m. Dec. 16 at Estrella Hills in Wildomar. Artist Stacey Bosworth, from Wrap It Up, will showcase wrapping techniques, and a drawing will offer the chance to win professional gift wrapping services. (North County Times)
The Banking Bargain Bin Dec 2, 2007
Earlier this year, Citadel raised its stake in home builder Beazer Homes to 5. 7% after rumors circulated about that company's impending demise. (Forbes -- Business)
Housing Slump Enters Third Year in `Deepest Correction' Since World War II Dec 1, 2007
Beazer Homes USA Inc., the Atlanta-based homebuilder under investigation by the U.S. Securities and Exchange Commission, and Hovnanian are ``bankruptcy risks,'' Wilson said. Those companies have too much debt and are exposed to slumping housing markets in Florida and Michigan, Indiana and Ohio, he said. (Bloomberg)
Builders anticipate bleak '08 Nov 30, 2007
Demand has deteriorated in many markets, limiting the prospect of a rebound in new home sales, chief executive officers for D.R. Horton and Beazer Homes USA said Tuesday at a JPMorgan Chase & Co. conference at Mandalay Bay. Next year "is going to be worse than '07 for us and for the industry in general," said Donald Tomnitz, CEO of Fort Worth, Texas-based D.R. Horton, the fourth-largest U.S. homebuilder. (Yahoo News -- Real Estate)
Corporate Crime Wave Unabated Nov 29, 2007
The findings are consistent with headlines implicating companies around the globe in a wide range of wrongdoing, including electronics giant Siemens (nyse: - - ) (bribery), York International, now part of Johnson Controls (nyse: - - ) (foreign corrupt practices), Beazer Homes (nyse: - - ) (accounting irregularities) and Biomet (kickbacks to doctors). The basic finding is that economic crime is unabated everywhere in world, regardless of the size of companies, and continues to pose a significant... (Forbes)
Beazer CEO: Strategy will keep company afloat Nov 28, 2007
Frankly confessing that Beazer Homes' much publicized legal problems have hurt its image and revenues, CEO Ian McCarthy insisted Tuesday the company's current strategies will keep it afloat. Speaking at the JPMorgan homebuilders conference in Las Vegas, McCarthy reiterated Beazer's commitment to resolve its infractions and lawsuits while restoring customer and investor confidence in its operations. (Atlanta Journal-Constitution)
D.R. Horton sells Legends project for $70 millionCompany seems to have been affected by recent real estate downturn Nov 15, 2007
Forbes reported that the fourth-quarter cancellation rate for Beazer Homes, another builder in Casa Grande, was 58 percent. Reuters news service reported on Nov. 2 that Standard s had dropped the debt of D.R. Horton and Pulte Homes, another Casa Grande builder, to junk status. (Casa Grande Valley Newspapers, AZ)
Bankruptcy is real fear for some homebuilders Nov 15, 2007
Alan Zibel Associated Press Nov. 14, 2007 12:04 PM. Homebuilders such as Centex Corp. and Pulte Homes Inc. aim to survive an industrywide unraveling by selling houses at bargain prices, slashing jobs and scrapping growth plans. (AZCentral -- Business)
Shareholder group seeks ouster of Beazer CEO Nov 7, 2007
A shareholder advisory group urged Beazer Homes USA Inc.'s board Tuesday to fire Chief Executive Ian McCarthy due to financial, legal and accounting problems that the homebuilder has faced in recent months. Company shares rose more than 6 percent following the request, though McCarthy did not address the issue during a presentation at an investor conference in New York on Tuesday. (Atlanta Journal-Constitution -- Business)
Stocks continue erratic pattern Nov 7, 2007
Beazer Homes USA Inc. said it plans to book a charge in the fourth quarter and suspend its dividend to help cut costs. The homebuilder fell 13 cents to $9. (AZCentral -- Business)
Beazer Homes warns about outlook, slashes jobs Nov 7, 2007
ATLANTA - Beazer Homes USA Inc., whose home closings have plunged amid turmoil in the housing industry, warned Monday that it expects to record pretax charges of $230 million in its fiscal fourth quarter. It also said it has cut jobs and is suspending its quarterly dividend to reduce costs. (MSNBC -- Business)
Beazer Halts Dividend, Hovnanian Hurting Nov 7, 2007
BOSTON (Dow Jones) -- Beazer Homes USA Inc., the home builder that has been rocked by an investigation into its mortgage-origination business in addition to the housing pullback, has suspended its quarterly dividend in an effort to firm up its capital position. Meanwhile, Hovnanian Enterprises Inc. (HOV) said early Tuesday that net contracts in the company's fourth quarter ended Oct. 31 dropped 10% from a year earlier, saying its October sales pace in most markets "significantly deteriorated" in... (SmartMoney)
Shareholder advisory group tells Beazer to dump CEO Nov 7, 2007
By Harry R. Weber, AP Business Writer ATLANTA A shareholder advisory group urged the board of Beazer Homes USA on Tuesday to fire Chief Executive Ian McCarthy because of financial, legal and accounting problems that the home builder has faced in recent months. CTW Investment Group said Monday's disclosure by Beazer about job cuts, expected fourth-quarter impairment charges and the suspension of the company's dividend "further undermined management's credibility at a precarious moment in the... (USA Today -- Money)
Shareholder advisory group seeking Beazer CEO's ouster Nov 7, 2007
ATLANTA A shareholder advisory group urged Beazer Homes USA Inc.'s board Tuesday to fire Chief Executive Ian McCarthy because of financial, legal and accounting problems that the homebuilder has faced in recent months ... On the Net: Beazer Homes USA Inc.. (San Diego Union-Tribune -- Business)
