Builder Blues: Can You Say “Suck” On The Business Page?

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Thursday morning news from homebuilders: really crummy earnings reports from D.R. Horton, and also from Pulte -- truthfully, it wasn’t really ‘earnings news’ from Pulte, as much as it was ‘losings news.’ That is, Pulte says it will lose money in the first quarter -- more money than it had previously thought. Now that you are awake: Thursday morning builder QUIZ: Which homebuilding executive said, ‘I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year.’ Wait for it... Other news of note: help is on the way for subprime borrowers in trouble. The LA Times rounds up efforts by Freddie Mac and WAMU to help keep subprime borrowers in their houses. Quiz Answer: Not sophisticated, sees a sucky year? That would be Donald Tomnitz, CEO of D.R. Horton. Comments welcome. Send story tips to lalandblog@yahoo.com.