Technical Olympic USA, Inc. (TOUS)

[deadcat123]

Homebuilders shed staff as sales continue to lag

As it was in the news back on Dec. 6

http://www.inbusinesslasvegas.com/2007/12/07/realdev.html

"Beazer Homes cut its staff nationally by 25 percent and that reduction was felt in its Las Vegas offices. Pageantry Homes and Woodside Homes also made cuts, said Dennis Smith, president of Home Builders Research. Richmond American Homes, Astoria, Centex, KB Home, Pulte Homes, Celebrate, Rhodes, Ryland, Distinctive, Engle, Meritage and Lennar have also recently cut staff."

I think it's healthy for builders to layoff excessive workers when the market is down big time! How many employees did TOUSA let go? I don't know but hope for not more than 30% of its total. Still waiting for the credit amendment no. 2 news to come out sometimes this week. Hopefully Citigroup will accept the credit amendment no. 2 and give TOUSA more time to work out its capital restructuring plan with its bondholders without going thru Ch. 11 court! A lot of HOPEs I mentioned here, but there is nothing but HOPING that thing will turn out oaky for us shareholders!

Anyone got anything from TOUSA management on credit amendment and restructuring update? tia.