OldDSLagent

The Option Arm Triplets: Dead Banks Walking

They have had their head buried in the sand (or elswhere) for so long that they failed to see the train coming down the track. They refused to proactively seek to dispose of their foreclosed properties because it would reveal the true value of the whole portfolio. They won;t even return calls to people who know how to help them on specific properties. Just a tragedy to watch what was once on of the best run lenders fall into the abyss because of short-sighted management.

Profiting from Hovnanian - Even in Case of Bankruptcy

I worked for KHOV in California a few years ago. It is the most dysfunctionally managed company I have ever seen. Tyranny and intimidation were art forms. They talked about customer satisfaction and service but really only cared about closings. The california region lost $109mm last year on 994+- home closings...hard to make that up in volume! Layoffs this past week reflect the slow to respond mentallity of finally merging two operatations in southern California.