Rumour: Warren Buffet putting money into Home Builders
- Thread starter makloda
- Start date
The news story got it wrong. He bought a steak FROM Havanonion's. (a fine Oklahoma steak and ale house.)
Also delicious prime rib on the weekends...
Also delicious prime rib on the weekends...
I belive both are of Armenian heritage.
These guys stick together.
Trust me, it\'s just a joke!!
who would be foolish enough to believe it??
Housing slump worse than expected: United Tech
Wed Jul 18, 2007 12:17PM EDT
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Free practice account at FOREX.comBOSTON (Reuters) - The slowdown in the U.S. housing market is worse than expected and will likely continue into the latter part of next year, an executive at diversified manufacturer United Technologies Corp. (UTX.N: Quote, Profile, Research) said on Wednesday.
The company's Carrier air conditioning business, which sells into both the commercial and residential markets, expects to record sales and operating profit growth this year despite "a U.S. housing slump that looks to be significantly deeper and longer than we or most others thought even six months ago," said Gregory Hayes, vice president of accounting and control at United Tech.
The U.S. housing market has cooled over the past year as rising interest rates and slowing demand took a toll on home buying.
Hayes' views reflected those of many top U.S. home builders, including D.R. Horton Inc. (DHI.N: Quote, Profile, Research), Lennar Corp. (LEN.N: Quote, Profile, Research) and Toll Brothers Inc. (TOL.N: Quote, Profile, Research). Executives at those builders have warned in recent months that they expect no quick improvement to the market.
"We had thought we'd see a second-half recovery" in the housing market, Hayes told investors and analysts on a conference call. "I think everybody today would tell you it's going to be '08 and perhaps even late '08 before we see a real recovery in the U.S. housing market."
United Technologies officials said profit at Carrier's U.S. residential business would be off more than 30 percent this year on a 5 percent decline in sales.
Hayes noted residential air conditioning sales represent about 2.5 percent of the Hartford, Connecticut-based company's forecast $53 billion in revenue this year.
(Reporting by Scott Malone)
Wed Jul 18, 2007 12:17PM EDT
Email | Print | Digg | Reprints | Single Page [-] Text [+] Featured Broker sponsored link
Free practice account at FOREX.comBOSTON (Reuters) - The slowdown in the U.S. housing market is worse than expected and will likely continue into the latter part of next year, an executive at diversified manufacturer United Technologies Corp. (UTX.N: Quote, Profile, Research) said on Wednesday.
The company's Carrier air conditioning business, which sells into both the commercial and residential markets, expects to record sales and operating profit growth this year despite "a U.S. housing slump that looks to be significantly deeper and longer than we or most others thought even six months ago," said Gregory Hayes, vice president of accounting and control at United Tech.
The U.S. housing market has cooled over the past year as rising interest rates and slowing demand took a toll on home buying.
Hayes' views reflected those of many top U.S. home builders, including D.R. Horton Inc. (DHI.N: Quote, Profile, Research), Lennar Corp. (LEN.N: Quote, Profile, Research) and Toll Brothers Inc. (TOL.N: Quote, Profile, Research). Executives at those builders have warned in recent months that they expect no quick improvement to the market.
"We had thought we'd see a second-half recovery" in the housing market, Hayes told investors and analysts on a conference call. "I think everybody today would tell you it's going to be '08 and perhaps even late '08 before we see a real recovery in the U.S. housing market."
United Technologies officials said profit at Carrier's U.S. residential business would be off more than 30 percent this year on a 5 percent decline in sales.
Hayes noted residential air conditioning sales represent about 2.5 percent of the Hartford, Connecticut-based company's forecast $53 billion in revenue this year.
(Reporting by Scott Malone)