Building Material Holdings Corp (fka BLGM)

[Golfteaser1]

BMHC's existing common shares held by shareholders will be extinguished and these shareholders will not receive any distributions as of PR dated 11/16/2009

[dDT]

Getting some action here today ...

[dDT]

BMHC Disclosure Statement Hearing Set for October 22, 2009
updated 3:48 p.m. ET, Wed., Oct . 7, 2009

BOISE, ID - Building Materials Holding Corporation, a leading provider of building materials and construction services to professional residential builders and contractors, today announced that the U.S. Bankruptcy Court in Delaware has set a new date of October 22, 2009 for the hearing on the Company's Amended Disclosure Statement. The hearing was previously scheduled for today, but was postponed at the request of the unsecured creditors committee, which asked the Court for additional time to review the document.

BMHC filed the Amended Disclosure Statement, as well as an Amended Plan of Reorganization, on October 1, 2009. The Amended Plan, which is subject to Court approval, provides for BMHC's secured lenders to convert debt into equity, becoming majority owners of the Company upon emergence. Also on October 1, 2009, BMHC announced that it had obtained a commitment for exit financing of $103.5 million upon emergence to help meet its operating needs and grow its business. The facility will be provided by a group of lenders led by Wells Fargo. The Company continues to expect it will complete its balance sheet restructuring by year-end.

As previously announced, on June 16, 2009, BMHC and all of its subsidiaries voluntarily initiated reorganization cases in Delaware under Chapter 11 of the U.S. Bankruptcy Code. Through its restructuring, BMHC plans to significantly reduce its outstanding funded debt, putting the Company in a stronger financial position for the future.

[dDT]

Key developments for Building Materials Holding Corp. (BLGM)

Building Materials Holding Corp. has Changed its Ticker to BLGM from BLGM.E
09/21/2009

Effective September 21, 2009, Building Materials Holding Corp. changed its OTCBB stock ticker symbol to BLGM from BLGM.E.
Building Materials Deleted From OTCBB
09/18/2009

Building Materials Holding Corp.’s common stock has been deleted from OTC Bulletin Board effective September 21, 2009 on account of Terminated Registration under the 34 Act. The company has been added NBB.

[dDT]

Looks like I missed that one

Form 8-K for BUILDING MATERIALS HOLDING CORP

2-Sep-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rul


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard

On August 18, 2009, we received notice from the Financial Industry Regulatory Authority (FINRA) stating we had not filed our quarterly report on Form 10-Q for the period ended June 30, 2009. As a result, our common shares will be removed from quotation on the OTC Bulletin Board (OTCBB) effective September 21, 2009.

Under the voluntary bankruptcy proceedings and restructuring plan as announced in our Form 8-K filed on June 16, 2009, our existing common shares held by shareholders will be extinguished and these shareholders will not receive any distributions. As a result, we do not intend to request a review with FINRA to appeal the proposed delisting of our common shares.

Additional information regarding our restructuring plan is available on our website at www.bmhc.com. This information has been prepared according to requirements of federal bankruptcy law and is unaudited and prepared in a format different from that used in consolidated financial statements filed under securities law. Furthermore, this information is not prepared for the purpose of providing a basis for an investment decision in our common shares or debt.

We undertake no obligation to make any further public announcement with respect to the information filed with the Bankruptcy Court or any matters referred to therein.

We anticipate completing our restructuring in the fourth quarter of 2009.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Building Materials Holding Corporation

Date: September 1, 2009 /s/ Paul S. Street Paul S. Street Senior Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary

[IronNippalz]

Well, no more money to be made... RIP.

[dDT]

Good afternoon Iron ...

$ 0.058 Up 0.004 (7.41%) Interesting !

Didn't see any news anywhere, but should get something soon imo.

[IronNippalz]

I held on a little to long last week and lost some profit. I want to reload today. I think the news will be good.

[dDT]

News tomorrow or friday ???

The hearing date regarding Debtors' Motion to Approve Disclosure Statement and Solicitation Procedures has been adjourned to September 10, 2009 at 3:00 p.m. (Eastern Time)

[dDT]

Plan of Reorganization and Disclosure Statement

http://www.bmhcrestructuring.com/plan.php3

[dDT]

RESTRUCTURING INFORMATION

BMHC has announced that it has reached agreement with its lender group on a "pre-negotiated" plan to restructure its balance sheet. Under the proposed restructuring plan, BMHC will significantly reduce its outstanding funded debt, establish a new revolving credit facility, and substantially lower annual interest expense upon consummation of the plan.

In order to execute the restructuring plan as efficiently and timely as possible, on June 16th BMHC voluntarily initiated reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code in Delaware, and filed a Plan of Reorganization implementing the agreement. The Chapter 11 proceedings will provide the legal pathway needed to implement the proposed plan.

BMHC plans to continue to operate as usual during the restructuring process. We remain as committed as ever to delivering the high level of quality and service our customers have come to expect.

BMHC looks forward to emerging from this process with a stronger balance sheet and increased liquidity to navigate the current environment and to better support the Company's long-term strategy.

Press Releases
7/2/2009 | BMHC Receives Final Court Approval of $80 Million DIP Facility
Balance Sheet Restructuring Continues on Track

Press Release » http://www.bmcwest.com/news/images/7-2-2009%20BMHC%20Press%20Release.pdf

[dDT]

Already posted on this board !

Date: Tuesday, June 16, 2009 5:49:10 PM
In reply to: None Post # of 51 [Send a link via email]
Item 1.01 Entry into a Material Definitive Agreement


On June 16, 2009, we announced we reached an agreement with members of our secured lenders to significantly reduce our debt, establish a new revolving credit facility and substantially lower interest expense upon completion of a restructuring plan. We have voluntarily initiated reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code in Delaware to implement this pre-negotiated restructuring plan in an efficient and timely manner.


We have received commitments for $80 million in debtor-in-possession (DIP) financing from certain of our existing lenders. Of this amount, $40 million will be immediately available upon interim approval of the Court. This represents an increase of $20 million from the existing $20 million revolver. Upon final approval, we will have access to the full $80 million. We expect the new financing to provide ample liquidity to meet our ongoing obligations to employees, customers and suppliers.


Under the proposed plan, our existing secured lenders will convert their interests to equity in the newly reorganized company and will receive interests in $135 million of term notes. Unsecured creditors will receive a cash distribution and the right to receive future payments based on our operating performance. The existing common shares held by shareholders will be extinguished and these shareholders will not receive any distributions.


We anticipate completing our restructuring in three to four months.

=================================================================

From post #17 ...

<We anticipate completing our restructuring in three to four months>

[dDT]

BLGME - Lots to go thru ...

http://phx.corporate-ir.net/phoenix.zhtml?c=80510&p=irol-sec

[dDT]

BLGME Chart - Watching

[chart_md]

** BLGME - looks like it wants to go higher :)

[Bertsllc]

CNBC FAST MONEY TONIGHT

http://www.cnbc.com/id/15840232?video=1231133413&play=1

[Bertsllc]

[learning as I go]

I think its got more in it than 14's if we get some attn on it, But, I'll settle for that today....lol, has a really nice chart set-up

[IronNippalz]

I have been watching this for ever. I really thought it was done for but it suddenly has legs. I am hoping for 14 sell half and see what happens. GL

[learning as I go]

cool, glad to see you here man

[IronNippalz]

It is getting the love. I started chasing yesterday @ 7... let's see how well she does.

[learning as I go]

BMHC has reached agreement with our lender group on a "pre-negotiated" restructuring plan that will significantly reduce our debt and interest expense and put our Company in a financially stronger position for the future.
Learn More »»

[learning as I go]

BMC West Receives 2009 "Partners of Choice Award" From David Weekley Homes
Thu. August 27, 2009; Posted: 09:15 AM
Stocks RSS
You too can increase your ETF trading!

Look up the PowerRating of BLGME and see how it has performed over the past week as well as the current proprietary PowerRating.



BOISE, ID, Aug 27, 2009 (MARKETWIRE via COMTEX) -- BLGME | Quote | Chart | News | PowerRating -- Building Materials Holding Corporation, a leading provider of building materials and construction services to professional residential builders and contractors, today announced that its BMC West operations have been recognized by David Weekley Homes, the second largest for-profit privately-held homebuilder in the United States, by receiving the prestigious "Partners of Choice Award" for providing world-class service. Receiving an "A" in Service, BMC West is one of only 18 companies to be recognized this year by David Weekley Homes out of a total field of approximately 150 suppliers. The award is based on David Weekley's "National Trading Partner Survey" in which approximately 600 of its Team Members are surveyed and asked to evaluate trading partners in both quality and service. The comprehensive survey solicits input from all levels of David Weekley Homes' organization, across the country. Award winners must maintain an "A" rating for the previous 12 months.

Stan Wilson, BMHC President and Chief Operating Officer, stated, "We are delighted to receive this award two years in a row and for the third time in five years. It recognizes the effort and expertise applied in every aspect of our operations to demonstrate our commitment to be the supplier of choice to residential builders."

Wilson continues, "In a dynamically changing environment, David Weekley Homes provides us with clear insight on supply chain issues for both of our companies. We then apply our best practices in customer service to optimize efficiencies and cost effectiveness through improved resource management. We know that today's market amplifies our customers' scrutiny of supply chain performance. We are doing more with less, reacting quicker to customer needs, and our goal remains to achieve the exceptional performance necessary to succeed in these unprecedented conditions."

Weekley's unique supplier rating system provides a structure in which BMC West and its other trading partners can have a constructive dialogue with key individuals at every level, including builder, design center, warranty service and administrative personnel. The ratings help to align the interests of all parties in the supply chain, to solve problems and improve interaction at deeper levels within the business relationship of both companies.

"The National Trading Partner Survey goes beyond talk. It challenges our partners to provide high levels of service throughout our organization," said Bill Justus, Vice President of Supply Chain Services for David Weekley Homes. "With approximately 600 Team Members potentially rating each supplier, it's a remarkable accomplishment to achieve an 'A' rating for an entire year. Those that did, such as BMC West, demonstrate through their actions that they are among our strongest providers."

BMC West approaches homebuilders such as Weekley with an operating philosophy that offers them a tailored combination of services, product mix and expertise to meet the building requirements in local markets. BMC West managers in every business unit respond to specific customer needs and local market conditions under a unified market management structure.

About BMHC

BMHC is one of the largest providers of building materials and residential construction services in the United States. We serve the homebuilding industry through two recognized brands: as BMC West, we distribute building materials and manufacture building components for professional builders and contractors in the western and southern states; as SelectBuild, we provide construction services to high-volume production homebuilders in key markets. To learn more about BMHC, visit our website at www.bmhc.com.

About David Weekley Homes

David Weekley Homes, founded in 1976, is headquartered in Houston and operates in 14 cities across the United States. David Weekley Homes was the first builder in the United States to be awarded the Triple Crown of American Home Building, an honor which includes "America's Best Builder," "Builder of the Year," and the "National Housing Quality Award." Weekley has also appeared seven times on FORTUNE(R) magazine's coveted "100 Best Companies to Work For" list. Since inception, David Weekley Homes has closed more than 60,000 homes. For more information about David Weekley Homes, visit the company's web site at www.davidweekleyhomes.com.

For More Information:
Chris Reiten
Vice President - Marketing, Purchasing and National Accounts
Ken Rhoades
Corporate Advertising/Merchandising Manager
+1.208.331.4300

[learning as I go]

Looks like a breakout happening...

[IronNippalz]

Looks like it is the last gasp... I just don't think it is long for this earth.

[BrickTop]

yes indeed!

[jmurfk]

More buys starting to come in.

[jmurfk]

I know. I was in last week for 26K at .029. Looking good.

[manypenny]

BLGM is running! look at it go! 41% UP AND RUNNING

[jmurfk]

PPS and volume up a little. Pinch is close.

[Visibility]

IMO the bottom is in.

[funken_a]

BLGM Pincher is ripe. Could be nice bottom rebound

my chart

http://stockcharts.com/h-sc/ui?s=BLGM&p=D&yr=0&mn=8&dy=0&id=p10447201761&a=174062841



http://www.shortsqueeze.com/?symbol=blgm

1,409,300 shares short will need to cover soon

[z_deville]

I agree. I think it got a little attention over the weekend.

[BrickTop]

I think it is time for the big bounce.

[reconranger]

Nice green close today-reconranger

[z_deville]

Short info.

hort Interest (Shares Short) 1,401,800
Days To Cover (Short Interest Ratio) 16.1
Short Percent of Float 5.16 %
Short Interest - Prior 1,423,000
Short % Increase / Decrease -1.49 %
Short Squeeze Ranking™ -81
% From 52-Wk High ($ 2.67 ) %
% From 52-Wk Low ($ 0.05 ) %
% From 200-Day MA ($ 0.33 ) %
% From 50-Day MA ($ 0.23 ) %
Price % Change (52-Week) -97.30 %
Shares Float 27,180,000
Total Shares Outstanding 29,856,508
% Owned by Insiders 17.92 %
% Owned by Institutions 13.50 %
Market Cap. $ 1,821,247
Trading Volume - Today 643,569
Trading Volume - Average 87,200
Trading Volume - Today vs. Average 738.04 %
Earnings Per Share -7.39
PE Ratio
Record Date 2009-JunB

[z_deville]

Yes. This should have a nice rebound. imo

[BrickTop]

Great news!

[z_deville]

07/02/09 BMHC Receives Final Court Approval of $80 Million DIP Facility

[Golfteaser1]

http://ih.advfn.com/p.php?pid=nmona&cb=1246538198&article=38497122&symbol=NB%5EBLGM

[BrickTop]

heading in the right direction!

[BrickTop]

Looking for the same thing.

[jimham11]

Any word/epectations on the new ticker symbol change?..will the symbol change involve a trading halt and a big 'fear dump' and big pps hit to the downside?..I want to buy in, but unsure whether to do it now or wait for the symbol change..

Anybody have a plan/strategy?..

[BrickTop]

BMHC Receives Court Approval to Continue Fulfillment of Customer Contracts and Warranties
Wednesday 06/17/2009 5:13 PM ET - PR Newswire

Building Materials Holding Corporation (OTC Bulletin Board: BLGM), a leading provider of building materials and construction services to professional residential builders and contractors, today announced that it has received interim authorization from the U.S. Bankruptcy Court in Delaware to, among other things, continue to meet its obligations to customers, including the fulfillment of contracts and the honoring of all warranties on normal terms in the ordinary course of business. The Compan

[hang ten]

This q took me by surprize, luckily not in now. Would've thought the $57m they recently put towards debt would have helped more.

Will keep watching the progress.

[hang ten]

Item 1.01 Entry into a Material Definitive Agreement


On June 16, 2009, we announced we reached an agreement with members of our secured lenders to significantly reduce our debt, establish a new revolving credit facility and substantially lower interest expense upon completion of a restructuring plan. We have voluntarily initiated reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code in Delaware to implement this pre-negotiated restructuring plan in an efficient and timely manner.


We have received commitments for $80 million in debtor-in-possession (DIP) financing from certain of our existing lenders. Of this amount, $40 million will be immediately available upon interim approval of the Court. This represents an increase of $20 million from the existing $20 million revolver. Upon final approval, we will have access to the full $80 million. We expect the new financing to provide ample liquidity to meet our ongoing obligations to employees, customers and suppliers.


Under the proposed plan, our existing secured lenders will convert their interests to equity in the newly reorganized company and will receive interests in $135 million of term notes. Unsecured creditors will receive a cash distribution and the right to receive future payments based on our operating performance. The existing common shares held by shareholders will be extinguished and these shareholders will not receive any distributions.


We anticipate completing our restructuring in three to four months.

[hang ten]

That has to +vely affect BLGM's asset to liability ratio significantly imo.

[di4]

BMHC Receives $57 Million Tax Refund, Pays Down Bank Debt
May 26, 2009 7:00:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesBOISE, Idaho, May 26 /PRNewswire-FirstCall/ -- Building Materials Holding Corporation (OTC Bulletin Board: BLGM), a leading provider of building materials and construction services to professional residential builders and contractors, today announced that it has received its anticipated $57 million federal tax refund for 2008.


In accordance with the Company's credit agreement, 70% of the refund was used to reduce borrowings under its term note. The remaining 30% of the refund was used to pay off its revolving credit facility and for working capital. As a result, as of May 22, 2009, there were no borrowings outstanding under the revolver and approximately $270.4 million outstanding under the term note.


Robert E. Mellor, Chairman and Chief Executive Officer, said, "The federal tax refund reduces debt outstanding under our credit agreement as we continue to actively work with our bank group on a plan for creating the best capital structure to support our long-term strategy and business objectives."


About BMHC

BMHC is one of the largest providers of building materials and residential construction services in the United States. We serve the homebuilding industry through two recognized brands: as BMC West, we distribute building materials and manufacture building components for professional builders and contractors in the western and southern states; as SelectBuild, we provide construction services to high-volume production homebuilders in key markets across the country. To learn more about BMHC, visit our website at www.bmhc.com.


BUSINESS RISKS AND FORWARD-LOOKING STATEMENTS


There are a number of business risks and uncertainties that affect our operations and therefore could cause future results to differ from past performance or expected results. Additional information regarding business risks and uncertainties is contained in Part II Item 1A of our most recent Form 10-Q. These risks and uncertainties may include, however are not limited to:


-- substantial doubt about our ability to continue as a going concern;
-- our existing common equity may have no value;
-- demand for and supply of single-family homes which are influenced by
changes in the overall condition of the U.S. economy, including interest
rates, consumer confidence, job formation, availability of credit and
other important factors;
-- our ability to maintain adequate liquidity, reduce operating costs and
increase market share in an industry that has experienced and continues
to experience a significant reduction in average annual housing starts;
-- our liquidity is dependent on operating performance, an efficient
cash conversion cycle and compliance with financial covenants;
-- our ability to implement and maintain cost structures that align
with sales trends and
-- losses of customers as well as changes in the business models of our
customers may limit our ability to provide building products and
construction services;
-- intense competition;
-- availability of and our ability to attract, train and retain qualified
individuals;
-- fluctuations in our costs and availability of sourcing channels for
commodity wood products, concrete, steel and other building materials;
-- weather conditions including natural catastrophic events;
-- exposure to product liability and construction defect claims as well as
other legal proceedings;
-- disruptions in our information systems;
-- actual and perceived vulnerabilities as a result of widespread credit
and liquidity concerns, terrorist activities and armed conflict;
-- costs and/or restrictions associated with federal, state and other
regulations and

-- numerous other matters of a local and regional scale, including those of
a political, economic, business, competitive or regulatory nature.



Risks related to our shares may include, however are not limited to:


-- price for our shares may fluctuate significantly;
-- our shares may be less attractive as they are not traded on a large,
more well-known exchange and

-- anti-takeover defenses and certain provisions could prevent an
acquisition of our company or limit share price.



Certain statements in this news release including those related to our restructuring initiatives and cost cutting efforts, our liquidity and negotiations with our lenders are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about our expectations, anticipated financial results and future business prospects are forward-looking statements. While these statements represent our current judgment on what the future may hold and we believe these judgments are reasonable, these statements involve risks and uncertainties that are important factors that could cause our actual results to differ materially from those in forward-looking statements. These factors include, however are not limited to the risks and uncertainties cited in the above paragraph, as well as our ability to timely and successfully implement our restructuring program and achieve the benefits that the program is designed to provide, including preserving value, enhancing our liquidity, reducing expenses and generating cash proceeds. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date of this news release. We undertake no obligation to update forward-looking statements.



SOURCE Building Materials Holding Corp.



----------------------------------------------
Bill Smartt
Senior Vice President and Chief Financial Officer
or Mark Kailer
Vice President
Treasurer and Investor Relations Officer
both of BMHC
[phone]; or Lisa Laukkanen of The Blueshirt Group
[phone]
for BMHC

[hang ten]

BMHC Obtains Lender Authorization To Borrow Up To $20 Million Through June 1, 2009

BOISE, Idaho, April 14 /PRNewswire-FirstCall/ -- Building Materials Holding Corporation (OTC Bulletin Board: BLGM), a leading provider of building materials and construction services to professional residential builders and contractors, today announced that it has obtained a revised waiver from its lenders that authorizes the Company to borrow up to $20 million through June 1, 2009.


Robert E. Mellor, Chairman and Chief Executive Officer, said, 'We are in discussions with our lenders and appreciate their support. The focus of our discussions is on how to create the best capital structure to move the business forward and support our long-term strategic plan and business objectives. As these negotiations continue, we believe our ability to borrow up to $20 million under our revolver through June 1 should provide us with sufficient liquidity to continue to meet our ongoing business obligations to customers, suppliers and employees as we have always done. Our team remains as committed as ever to serving our customers with the same high quality materials and services they have come to expect from BMHC.'


BMHC's credit agreement provides a $200 million revolver subject to borrowing base limitations and a $340 million term note maturing in November 2011. As of April 13, 2009, there were $8.3 million in borrowings outstanding under the revolver and approximately $315 million outstanding under the term note.


As previously reported, BMHC's credit agreement requires monthly compliance with financial covenants including minimum liquidity and adjusted earnings before interest, taxes, depreciation and amortization (monthly Adjusted EBITDA) at least through 2010. Based on financial information for February 2009, the Company was not in compliance with the monthly Adjusted EBITDA requirement of its credit agreement. In March 2009, BMHC obtained a temporary waiver through April 15, 2009 for lack of compliance with this requirement. This waiver has now been extended through June 1. In addition, the lenders have agreed to waive a potential default that would otherwise arise under the current credit agreement if, as expected, BMHC's independent registered public accounting firm includes a going concern explanatory paragraph in their opinion as to the Company's financial statements for the year ended December 31, 2008. The waiver also requires BMHC to proceed with filing of tax returns, development of a business plan and includes a $0.5 million limitation on capital expenditures.


BMHC is in the process of finalizing its financial statements for the fourth quarter and full year 2008 and completing its year-end audit. The Company expects to file its Form 10-K annual report on or before April 15, 2009. BMHC also announced that it has filed its 2008 federal tax return that seeks a refund of approximately $56 million. Any refund obtained will be used by the Company to pay down existing obligations and will help de-lever its capital structure.

[hang ten]

Filed NT10-K, 10K will be late. eom