A few random Headlines re KB Homes:
KB Home says home orders are up
KB Home 2Q loss narrows, new orders up from 1Q
KB Home new home orders up from 1Q
KB Home's quarterly loss narrows
SOME FACTS FROM KB'S PRESS RELEASE:
Revenues totaled $384.5 million in the second quarter of 2009, down 40% from $639.1 million in the year-earlier quarter.
The Company ended its 2009 second quarter with a cash balance of $1.10 billion.....the Company’s debt balance totaled $1.71 billion
The Company’s backlog at May 31, 2009 totaled 3,804 homes, representing potential future housing revenues of approximately $796.9 million, compared to a backlog of 6,233 homes representing potential future housing revenues of approximately $1.47 billion at May 31, 2008.
Company-wide net orders for new homes in the second quarter were 2,910, down 31% from 4,200 in the second quarter of 2008 but up 59% from 1,827 net orders in the first quarter of 2009.
Some Real Analysis:
Orders were DOWN 31% from last years DEPRESSED ORDER RATE!!!!!!
Backlog was DOWN approaching 50%!!!
Due to depressed pricing, the company is losing money as it sells homes, the more homes it sells, the more it loses.....its losses "narrowed" because it sold a lot less homes this year than last year.....if the company simply shut down.......it's losses would go away.
To use a quarter over quarter sales/order comparison is IDIOTIC at best, and more likely DECEPTIVE at its origin. Spring selling quarter is ALWAYS the historically best selling quarter for housing. Could you imagine a retailer bragging its Christmas/Holiday December selling month was better than November??? How do you think January would compare???
Do you think it would be fair to compare next quarter's KB orders to this quarter's???? NOT A CHANCE!!!!
As indicated above, on a year over year basis, orders are collapsing and backlog is even worse!!!! Selling prices are crashing destroying margins. Ask yourself....why is the mainstream media treating us like IDIOTS???? And if it is being done in this context, where else are we being LIED to?????
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Alstry, we're being lied to about everything this pretty well suns it up: (read the article @American Thinker) When did the lowbrows take over the culture?
ReplyDeleteBy James Lewis
I've been trying to grasp for a truth that is so obvious that all of us know it. But it's not a polite truth, so we don't talk about it. Yet I think it's important to say it out loud, because it is a truth that haunts our national discourse.
As a nation we are under the thumb of idiots. Not just indoctrinated, or wrong-thinking, or power-hungry, or manipulative, or even malevolent people. No, I mean real lowbrows, people who constantly fall for really stupid ideas. Neanderthals. (Look at the Governor of California just running the state budget into the ground. See what I mean? That's not just incompetence. It takes special stupidity, almost a deliberate, willful absence of real thinking.)
The Federal EPA is about to officially declare carbon dioxide to be a pollutant. That's not just false and unscientific; it's not just an excuse for taxing everything in sight, including breathing. It's not merely wrong. It's idiotic. It marks a low point in our national conversation. Scientists or engineers with a grain of sense shouldn't be taking the EPA seriously for a second. Forget the "climate experts," with their grossly inadequate computer models. Normally intelligent people should boggle at the EPA. They are bizarre. Only the truly ignorant could fall for this level of ignorance. Or those who just can't think.
Or look at Obama's unbelievable spending spree. No sane and sensible taxpayer could possibly believe that spending trillions and trillions of dollars on blue-sky fantasies makes any sense at all; the only reason Americans aren't in open rebellion yet is that half of them can't believe it's happening, and the other half are idiots. We haven't seen the effect (yet) on our pocketbooks. There's food in the stores still, and housing has gotten cheaper. But let Obama's budget affect our wallets directly and just watch the voters explode with rage.