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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (29148)	12/3/2007 6:28:40 PM
From: Madharry	Read Replies (1) \| Respond to of 79150

well. thats an interesting deal to be sure. of course they get to keep 20% of the ownership and also get incentives so its not quite a 60% haircut-more like 50%. I dont know how that affects your net worth model. I guess its clear that LEN was desperate for some cash infusion and this was their best alternative. I dont know if that is a stirring buy signal for homebuilders. I think not. I would describe the situation as one of overcapacity. I dont see how this will work itself out in less than 4 years.