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“If you run out of cash, you’re out of business.”
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Getting a lender to renegotiate a loan requires all hands on deck. And when that doesn’t work, help may come from private money lenders.
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Renegotiating debt can be a lifesaver for builders swamped by the market.
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The Chicago-area builder thinks it can lend a hand to banks with distressed properties and smaller builders that are going through their first downturn.
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Irvine-based builder merges three divisions into one.
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As it winds down its Florida operations, Kimball Hill Homes offers performance-based incentives to remaining associates there.
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"Understanding local divisions’ supply and demand is key."
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Process and operational improvements are key to success.
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Stuck between a rock and a hard place, many builders are facing dire fiscal circumstances.
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“What I have is our corporate culture as well as the individuals working here. That’s our key differentiator.”
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The 2007 Builder 100 saw the market for new-home sales fall 23.96 percent, forcing many small builders to close their doors.
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To say that jobsite theft is rampant in home building would be an understatement. In a recent Builder survey, 90 percent of respondents said they had been victims of theft within the past year. Losses ran from lumber and copper wiring to office supplies and diesel fuel. Of those who reported thefts...
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Now more than ever, managing cash flow is crucial, as builders seek to survive and thrive during the downturn.
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Still looking for a New Year's resolution worth keeping? Try cutting costs in 2008.
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A Las Vegas builder now offers Control 4 as standard.
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The continued existence of Kimball Hill Homes, one of the housing industry's largest privately owned builders, as a business entity now hinges on the outcome of its negotiations with lenders over the terms of its debt and finding some way to stop the cash draining from its operations. In its 10-k...
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Emaar signs are everywhere in Dubai, the now legendary city/state of only 1,500-square-miles with roughly 1.4 million people (about the size of San Antonio). Huge plasma displays touting Emaar communities greet visitors at airport customs. Blue-and-yellow flags and billboards carry the company's...
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For most people, losing one's job can seem like the end of the world. To be discarded after spending years in dedicated service to a company can be extremely demoralizing. And the job market can be a very uninviting place for those in their late 40s or early 50s.
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Warrenville, Ill.-based Neumann Homes filed for Chapter 11 bankruptcy in federal court Thursday, 10 days after the company ceased operations and announced it would seek protection from its creditors. According to the filing, the builder has as many as 1,000 creditors and more than $100 million in...
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Over the next several months, Neumann Homes, which will file for federal bankruptcy protection on Thursday afternoon, expects to wind down its home building operations and start selling off most of its land assets in four states. Ken Neumann, CEO and owner of Neumann Homes, tells BUILDER that his...