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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: mishedlo who wrote (57575)7/12/2006 2:01:13 PM
From: Think4YourselfRead Replies (1) of 306849
 
That IS very strange. I agree with Ramsey Su. The framers are one of the first groups in after the concrete/foundation guys. Word about not paying them would get around and the other subs would quickly get suspicious of Lennar management's motives. Lennar obviously doesn't care.

OTOH Elroy has a good point. We have only heard one side of the story. Why would Lennar be willing to pay the contractors directly? That suggests, as Elroy pointed out, that they think Veemac is severely overcharging them. They would probably want to keep this quiet, as most companies try to do, but the word is out now. Lennar should be coming out with a statement in the next few days (weeks at most), telling their side of the story if they have a legitimate reason for doing what they did. I am also wondering why other subs continue to work for them if Veemac is telling the whole story. Everyone probably knows something has happened, even if it's just that the contractors haven't been paid.

Whatever is going on, Lennar has just risen several notches to become my number one stock of interest. They are doing a lot of things that suggests the company has a serious problem with their senior management.
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