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REsales
Dud?


Joined: 11 Mar 2009
Posts: 13
Location: DFW

Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 10:07 am Reply with quoteBack to top

Fox news just announced the merger. Is this 2 sinking ships or a good thing ?

http://www.foxbusiness.com/sto.....ion-stock/

Who would have thought Pulte could ever buy Centex. To me, Centex had the better name.
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Gizmo
Cherry Bomb


Joined: 14 Feb 2009
Posts: 102

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 1:42 pm Reply with quoteBack to top

Wow! I wonder if Pulte will keep the Centex and Fox and Jacobs brands/names?
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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 2:29 pm Reply with quoteBack to top

What an enormous company this will be. This will be an exciting time for those folks - the implications are staggering.

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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 4:40 pm Reply with quoteBack to top

Can someone explain how this is going to help either of them survive?

More ability to put banks over the barrel? ;)
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Moan Alot
Flash in the pan


Joined: 16 Oct 2008
Posts: 76

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 6:22 pm Reply with quoteBack to top

That one caught me off guard. I am not sure I really understand the benefits for Pulte, except that they become the Monster Builder, and DR Horton is a far second place. I wonder how that will sit with Donnies ego,,maybe part of the strategy. LOL, I think it has more to do w/ the amount of cash that can be hoarded. I suspect though, that even at that, there are two unique corporate styles that will never mesh and a huge number of Centex folks will be looking for a job in 6 months. My best to them all.
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NewHomeDallas
Dyn-o-mite!


Joined: 05 Jan 2009
Posts: 404

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 6:36 pm Reply with quoteBack to top

The CEOs of both companies were just on CNBC. Basically they were saying what Steve Wall said when he bought Newmark.

There will be synergies since Centex sells more entry and first move up and Pulte sells higher end and owns Del Webb. They also are big in different areas of the country. Centex is bigger in Texas, Putle in the Northeast.

However, just like Wall-Newmark; they will find the different corporate styles will end in conflict. Don't look for very many Centex people being around in six months.

The Centex CEO siad they had looked at other mergers or buyouts. Look for Horton to buy or merge with someone soon. Ity's inevitable that there will be far fewer major builders.

Time will tell. I'm not optomistic.
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Done That
Cherry Bomb


Joined: 22 Dec 2008
Posts: 104

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 9:24 pm Reply with quoteBack to top

NewHomeDallas wrote:
The CEOs of both companies were just on CNBC. Basically they were saying what Steve Wall said when he bought Newmark.

There will be synergies since Centex sells more entry and first move up and Pulte sells higher end and owns Del Webb. They also are big in different areas of the country. Centex is bigger in Texas, Putle in the Northeast.

However, just like Wall-Newmark; they will find the different corporate styles will end in conflict. Don't look for very many Centex people being around in six months.

The Centex CEO siad they had looked at other mergers or buyouts. Look for Horton to buy or merge with someone soon. Ity's inevitable that there will be far fewer major builders.

Time will tell. I'm not optomistic.
How can you sell a centex if you have to make a profit?
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Peddlin' Dirt
Dud?


Joined: 08 Apr 2009
Posts: 3

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 10:14 pm Reply with quoteBack to top

[quote="Aaron"]Can someone explain how this is going to help either of them survive?

More ability to put banks over the barrel? ;)[/quote]

A little phrase called, "too big to fail".
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Nelson
Dyn-o-mite!


Joined: 07 Nov 2008
Posts: 351
Location: Texas

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 10:33 pm Reply with quoteBack to top

Looks to me like Centex has been Imploded.
Good luck to the $350 MM in synergies now needing jobs.

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flipster4227
Dud?


Joined: 17 Dec 2008
Posts: 9

Re: Pulte To Buy Centex
PostPosted: Wed Apr 08, 2009 11:36 pm Reply with quoteBack to top

In many markets pulte and centex compete head to head. Centex does have more of a commercial stake than pulte does. This overlap will result in many layoffs, mostly from Centex employees. No need in having two offices, and two of everything. The thing that sunk Centex's ship is that they owned too much land when things starting going south. I heard one statement is as of 06, Centex had about 88000 lots.thats a lot of money in dirt. Not sure how acurate that number is, but to get bought out by Pulte when they basically went toe to toe in most markets I was aware of tells you alot.
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