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Thirsty Tiger

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Thirsty Tiger

Re: Zephyr post# 147587

Tuesday, 10/23/2007 2:14:24 PM

Tuesday, October 23, 2007 2:14:24 PM

Post# of 275591
and here goes one of the "worse off" home builder down the toilet

http://www.chicagotribune.com/business/chi-071022-neumannhomes-bankruptcy,0,4756992.story

Neumann Homes, which has been on a downward trajectory for more than a year, succumbed to market conditions and its own aggressive expansion when it announced yesterday afternoon that it would file for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Neumann gave every appearance of a company that is shutting down for good, as it has laid off most of its employees, has closed its sales, production, and customer services offices, and has reached an agreement with creditors for loan relief while company officials evaluate Neumann Homes' assets for their eventual liquidation, according to several news reports.



"You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer". F Zappa

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