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Houston Builder
Dyn-o-mite!


Joined: 09 Jan 2009
Posts: 351

KB Home - The Fat Lady is Singing
PostPosted: Sun Feb 06, 2011 1:28 am Reply with quoteBack to top

the rocket scientists at KB that brought us Martha Stewart disaster in Katy (nice job Kyle Davison!!) and $60K slum communities here in Houston is going down hard -

(KB Homes' Martha Stewart "this is our version of the I Phone!!!" community was hatched by Davison)


read this link.....pretty smart to gamble the family jewels on Las Vegas at the top of the market - what a bunch of nitwits Smile


http://online.wsj.com/article/.....url][/url]

I love this comment from the article:

"The Inspirada development was about the most poorly planned waste of money possible; it was a bet made when Vegas' growth was already in doubt"


I am confused, is anyone else confused?


Last edited by Houston Builder on Tue Feb 08, 2011 4:31 am; edited 2 times in total
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NewHomeDallas
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Joined: 05 Jan 2009
Posts: 404

Re: KB Home - The Fat Lady is Singing
PostPosted: Sun Feb 06, 2011 5:11 am Reply with quoteBack to top

KB has no choice. A bankruptcy judge is forcing them to take down more lots. They borrowed the money when Vegas was booming.
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Houston Builder
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Joined: 09 Jan 2009
Posts: 351

Re: KB Home - The Fat Lady is Singing
PostPosted: Sun Feb 06, 2011 2:34 pm Reply with quoteBack to top

NewHomeDallas wrote:
KB has no choice. A bankruptcy judge is forcing them to take down more lots. They borrowed the money when Vegas was booming.


Your point is well made, but they had a choice back in 2006 when Inspirada was purchased. Evil or Very Mad

KB should have known that selling $300K houses to taxi cab drivers and casino busboys was not a sustainable business. Sad

KB should have known that their Martha Stewart community here would be the laughing stock of the Houston market and a colossal bust Embarassed

KB should have known that they can't make any profit selling houses from the $60Ks like they tried here last year. Idea

KB has choices - look at the awful choices they have made and continue to make is reason why they will be history within 12 months.

Dazed and confused Shocked Confused
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NewHomeDallas
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Posts: 404

Re: KB Home - The Fat Lady is Singing
PostPosted: Sun Feb 06, 2011 9:02 pm Reply with quoteBack to top

Thier choices turned out to be wrong, but remember, they were made in 2005 and 206 when we had record sales everwhere. At least they are still in business; look at all the builders who aren't; whose management you would consider greatly better than KB's.

I will ask you a question to answer to yourself honestly. Would you have walked into the CEO's office of any builder, major or minor, in 2004 or 2005 when the decisions for 2006 and 2007 were being made and said, "I think we need to cut back. I think the market is saturated and we are going to fall greatly. All the other builders are wrong." They would have laughed you out of their office.

When I talk to the people I know in management who were in management in 2005, not one says that they saw the colapse coming. Some admit that they knew we couldn't sustain the growth, but they thought we would stay at 2006 levels. Maybe it was an ostrich position, but some very bright people made decisions much worse than KB's.
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Houston Builder
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Joined: 09 Jan 2009
Posts: 351

Re: KB Home - The Fat Lady is Singing
PostPosted: Thu Feb 10, 2011 3:38 pm Reply with quoteBack to top

NewHomeDallas wrote:
Maybe it was an ostrich position, but some very bright people made decisions much worse than KB's.


Name one decision worse than KB in Inspirada?

KB's pronouncement by Kyle Davision that "Martha Stewart is our I phone" is the most laughable - especially after seeing their performance in Katy.

But of all the mistakes made by others (Pulte buying Centex), the KB Inspirada deal stands out as the worst I have seen.


Last edited by Houston Builder on Thu Feb 17, 2011 5:09 am; edited 1 time in total
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cicero
Dud?


Joined: 04 Mar 2009
Posts: 21

Re: KB Home - The Fat Lady is Singing
PostPosted: Fri Feb 11, 2011 6:53 pm Reply with quoteBack to top

Hey, Kyle! Martha Stewart called. She wants her freakin' IPhone back once KB liquidates.
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Houston Builder
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Joined: 09 Jan 2009
Posts: 351

Re: KB Home - The Fat Lady is Singing
PostPosted: Sat Feb 12, 2011 6:24 pm Reply with quoteBack to top

cicero wrote:
Hey, Kyle! Martha Stewart called. She wants her freakin' IPhone back once KB liquidates.


That's hilarious. Heard a great story about Davison - once he was making a presentation to some KB bigwigs and he was late b.c he was in the hallway of the hotel in front of a mirror primping himself - several people saw it and they have been making fun of him ever since - pretty funny stuff
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BigDuke6
Flash in the pan


Joined: 28 Mar 2009
Posts: 40

Re: KB Home - The Fat Lady is Singing
PostPosted: Sat Feb 19, 2011 5:28 am Reply with quoteBack to top

Houston Builder wrote:
NewHomeDallas wrote:
Maybe it was an ostrich position, but some very bright people made decisions much worse than KB's.


Name one decision worse than KB in Inspirada?

KB's pronouncement by Kyle Davision that "Martha Stewart is our I phone" is the most laughable - especially after seeing their performance in Katy.

But of all the mistakes made by others (Pulte buying Centex), the KB Inspirada deal stands out as the worst I have seen.



Seriously, how long ago was the iPhone comment? Let it go already.
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Houston Builder
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Posts: 351

Re: KB Home - The Fat Lady is Singing
PostPosted: Sat Feb 19, 2011 3:12 pm Reply with quoteBack to top

[quote="BigDuke6"]
Houston Builder wrote:
NewHomeDallas wrote:
KB's pronouncement by Kyle Davision that "Martha Stewart is our I phone" is the most laughable - especially after seeing their performance in Katy.

But of all the mistakes made by others (Pulte buying Centex), the KB Inspirada deal stands out as the worst I have seen.


Seriously, how long ago was the iPhone comment? Let it go already.


The I phone comment shows how inept KB is when it comes to strategy. You don't hear any other homebuilder claim that their strategy "is our version of the I phone".

That was Kyle Davison's decision to compare their M Stewart homes to the I phone. KB will probably do something similar with the tiny energy efficient boxes they are rolling out.

They build little crappy slum boxes and call them energy efficient b/c they take out all the windows.

Yippee!! We have houses from the $60Ks!!!

I am the RGM for KB Houston and Dallas and we build 250 houses a year and lose $5MM!!

I was the RGM for the Gulf Coast and we shut it down b/c it was a collosall disaster!!

Jeff M.- I will bend over whenever you want me to!!

Way to go Kyle!!
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catch22
Flash in the pan


Joined: 06 Sep 2008
Posts: 74
Location: houston

KB
PostPosted: Sat Feb 19, 2011 5:13 pm Reply with quoteBack to top

While I am not a fan of Kb or the management it would be nice if tou would post your name and company so the people who know you could take shots at you for the mistakes you have made in life. While you are on this blog Davison is counting the millions of dollars he made, Iphone or not, and you talk about this guy like a bitter ex wife at a cocktail party.
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