Items Tagged with 'PulteGroup'

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PulteGroup's very public squabble yet to hurt bottom line

Beats revenue and earnings expectations
If you're looking at financial data to be your tell all of a company's health, PulteGroup is doing quite alright, according to its first-quarter earnings. This is important news given the recent, unusually public, and still ongoing, battle over the questionable leadership of the homebuilder's executive team. However, the earnings might not have come soon enough.
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UPDATE: Board Director Grosfeld resigns from PulteGroup

Says his resignation is effective immediately
Since a private meeting held on March 21, PulteGroup has been divided into two sides, with the CEO and board on one side, and the founder and director on the other. While the board had decided not to re-nominate the director in May, Grosfeld announced his departure would be sooner than they all thought.
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PulteGroup CEO steps down in face of company pressure

Founder and board asks him to resign
After more than 20 years with the homebuilder, PulteGroup CEO Richard Dugas was pressured to resign by two of the highest powers in the company due to disputes over the homebuilder’s direction. Conveniently, a recent Q&A with Dugas revealed some of his plans for the company. So what happened?
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Toll Brothers CEO calls new mortgage rules dumb

“3% down doesn’t make any sense”
Not every builder is on board with federal regulators’ move this week to open the credit box and ease mortgage-qualification standards. While other builders like PulteGroup and Ryland Group welcome the new rules, Luxury homebuilder Toll Brothers finds the rule dumb.
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PulteGroup 3Q net income drops to $141M

“We are encouraged by proposed changes at FHFA”
"By remaining disciplined in our construction and land investment practices, we continue to improve our returns on invested capital while positioning the Company to take advantage of market opportunities,” said Richard Dugas, Jr., chairman, president and CEO of PulteGroup.
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