"We do think if you're dumb enough to buy a home builder (share), you ought to buy us,"
Ryland Group Chairman and Chief Executive Officer R. Chad Dreier, told an investor audience at the JP Morgan Basics and Industrials Conference this week.
June 18, 2007
HP Hilarious Homebuilder Quote of the Month
Ryland Group Chairman and Chief Executive Officer R. Chad Dreier, told an investor audience at the JP Morgan Basics and Industrials Conference this week.
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15 comments:
Priceless.
'nuf said
ROFLMAO! Moron is the only word that comes to mind.
Sounds like he was being painfully honest.....something we all need in Amarka.
at least he's honest
As much as I get pissed at these enormous behemoth builders of crappy Pottersville homes, I must say that they tend to be the most honest out of all the REIC participants.
Perhaps they need to be in touch with reality as much as Reatwhores need sheeple to live in a fantasy world.
Grow houses!
He's got a point!
If we're dumb enough to buy their shitty houses, we should buy their shitty stock!
Yeah, we have a new quote from a homebuilder CEO to replace the prior winner from earlier this year, D.R. Horton's (was it? Or Hovnanian's CEO?) CEO assessment when he stated, "2007 is going to suck"!
I, for one, applaud the honest assessment of the homebuilders. I suppose such full disclosure is pretty much mandatory for the CEO of a publicly-traded company nowadays, as they need to account to shareholders for their poor performance.
Unfortunately, the NAR is not a publicly-traded sales organization, and the MBA (Mortgage Bankers/Brokers Assocation) is not either, so there's little reason to do other than spout meaningless platitudes...
Some of the HB CEO's are honest. Others like TOL and MTH are downright scumbag liars
FROM DHI TODAY TO ALL EMPLOYEES:
STOCK TRADING BLACKOUT EFFECTIVE IMMEDIATELY
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Effective immediately and continuing until further notice, each of you is prohibited from trading (buying or selling) DHI stock. This blackout extends to your family, “affiliates” (affiliates include, without limitation, your family trusts and investment accounts) and anyone who may be deemed to have confidential information regarding DHI.
Interpretation of the rules applicable to confidential inside information are complex and technical; therefore, if you have any question whatsoever about to whom this trading prohibition extends, please contact XXXXX OR XXXXX or me in the corporate legal department.
As all of you know, it is illegal to trade in public securities of any company at any time that you are in possession of ”material, non-public information” about that company. More information regarding insider information is contained in the employee manual.
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If any of you had planned on exercising any options, please contact XXXXX OR XXXXXX or me in the corporate legal department for additional guidance and alternatives.
But because his comment was placed on several popular internet websites, thousands of hapless investors began to throw money at him...
Gotta love it when these "Art of the Deal" types get together trying to generate commisions, agent fees, management fees, ect.. and using other peoples money (shareholders) to buy 25,000 dollar acres and pay millions, thus getting hundred of thousands on the deal for themselves.............
Ladies and Gentlemen:
Several of you have inquired about the impact of the current DHI stock trading blackout on the Employee Stock Purchase Program.
1) Purchase of DHI Shares: The blackout does NOT affect your current election to PURCHASE shares through the ESPP. You may continue with your election to purchase ESPP shares during the blackout.
2) Sale of DHI Shares: The blackout DOES apply to selling shares acquired through the ESPP. You CANNOT sell any DHI shares during a blackout. You can only sell ESPP shares or any other DHI shares during an “open” period.
3) Elections to Opt into or out of or change elections in the ESPP: You may opt into or out of or change your elections with respect to the ESPP program in accordance with the normal provisions of the ESPP plan.
If you have further questions regarding the ESPP, please contact xxxxxx xxxxx in the corporate Human Resources Department.
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Senior Vice President and Chief Legal Officer
D.R. Horton, Inc.
D.R. Horton Tower
You'd think more people would realize that if homebuilders, professionals, can't make money in real estate, perhaps it's not that easy to make money in real estate anymore. If homebuilders are bleeding money then perhaps the value of their home won't be recovering anytime soon.
As stupid as you would have to be to invest in homebuilders right now, you'd have to be just as stupid to 'invest' in a home.
dhi stock trading blackout???? what the hell????
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