Implode-Explode Heavy Industries news feed

Piggy bank raiders: half of parents dip into children's savings (UK)

Mon, 02 May 2016 14:57:27 GMT

``Some 46% of parents of children aged between four and 16 years old said they have taken money from their child's savings, a survey by Nationwide Building Society has found. The average amount taken over the past year was Â£21.41, while one in 10 parents had taken Â£50 or more during that period.''

Drvenkar Custom Homes / Tex Best Custom Builders files for Chapter 7 bankruptcy

Fri, 22 Apr 2016 21:15:56 GMT

``Drvenkar Custom Homes LLC -- a homebuilder based in Huffman, Texas, northeast of Houston -- filed for Chapter 7 bankruptcy on March 25 in the U.S. Bankruptcy Court for the Southern District of Texas in Houston, according to public records.... Drvenkar Custom Homes' bankruptcy filing includes a list of nearly 50 creditors, including homeowners, construction vendors and banks... The homebuilder -- which also went by Tex Best Custom Builders, according to the bankruptcy filing -- also re-roofed and redesigned homes, remodeling kitchens and bathrooms and adding covered porches, according to the company's website.''

Welcome to the Everything Boom, or Maybe the Everything Bubble

Wed, 09 Jul 2014 14:17:25 GMT

Welcome to the Everything Boom -- and, quite possibly, the Everything Bubble. Around the world, nearly every asset class is expensive by historical standards. Stocks and bonds; emerging markets and advanced economies; urban office towers and Iowa farmland; you name it, and it is trading at prices that are high by historical standards relative to fundamentals. The inverse of that is relatively low returns for investors.
...
Prefer a more solid asset? The price of office and apartment building has risen similarly; office space in central business districts nationwide costs $300 per square foot on average, up from $147 in early 2010, according to Real Capital Analytics. In Manhattan, an investor in an office building can expect rent payments after expenses to add up to only a 4.4 percent return, known as the capitalization rate, lower than even in 2007, the top of the last boom.

I Don't Hang Up On Bill Collectors, They Hang Up On Me!

Sun, 16 Sep 2012 19:34:40 GMT

MFI-Miami has found six different ways to give you the psychological edge over pesky bill collectors who like to call you about debts they can't legally collect on.

Is Wells Fargo Run By The Catty Ladies From TV's Dynasty?

Fri, 14 Sep 2012 17:16:18 GMT

It appears that Alexis, Krystle and rest of those crazy women who entertained us back in the 1980s with their cattiness and their cat fights seem to have become the model of behavior for executives at Wells Fargo.

Dead Homeowners Are Like Dead Interns, They Haunt Politicians On Election Day

Wed, 12 Sep 2012 18:13:00 GMT

Wayne County Treasurer Ray Wojtowicz is auctioning off the home of unemployed single mother of two, Kelly Parker who is dying of cancer. Parker is planning on being defiant until the very end. Last night she said, "This is our house and we're not leaving. I mean, good luck because you're not going to get it,"

FDIC Sues Banks and Depositors Over MBS Fraud

Tue, 11 Sep 2012 19:12:34 GMT

``On August 17th, the FDIC as receiver for Guaranty Bank out of Texas brought suit against Ally Securities, Bank of America, Bear Stearns Companies, Countrywide Financial Corp., Countrywide Securities, CWALT, Deutsche Bank Securities, Goldman Sachs, JPMorgan Securities, Merrill Lynch, Royal Bank of Scotland, Structured Asset Mortgage Investment II, Inc, WaMu Asset Acceptance and WaMu Capital Corporation for misleading Guaranty Bank into buying toxic mortgage backed securities that lead to it's collapse in 2009. The three lawsuits make for an interesting read so grab your coffee.''

Did Romney Finance Chair Advise Clients To Steal Money From School Children?

Tue, 11 Sep 2012 04:50:24 GMT

Romney Michigan Finance Chair David Trott's law firm along with Orlans Associates major GOP contributor has been named as a co-defendant in a tax fraud case for cheating Michigan taxpayers out nearly $1.2 Billion since 1999.

MFI-Miami Client Spanks Linda Orlans, Scores Free House From Fannie Mae

Mon, 10 Sep 2012 00:48:13 GMT

Robin Roberts gets to stay in her home after a judge ruled that Fannie Mae's attorneys, Orlans Associates were trying to illegally evict her. The judge also ruled Fannie Mae has to pay her legal fees.

Imploded: DeLuca Enterprises

Tue, 27 Sep 2011 19:07:16 GMT

Property sub. of NJ tri-state regional builder goes into receivership in late 2010 after defaulting on a $119 loan from Wells Fargo (no word on whether this was originally a Wachovia loan).

Maronda Homes Files Chapter 11

Wed, 20 Apr 2011 04:57:12 GMT

In our first major builder implosion in over a year, Maronda Homes of western PA has filed for chapter 11 bankruptcy protection after it could not reach an accord with a 14-bank consortium providing it with credit.

Orleans Homebuilders

Wed, 03 Mar 2010 06:42:22 GMT

``In a sign that the distress in the housing market and the economy is far from over, Bensalem, Pennsylvania-based Orleans builders has filed for chapter 11 bankruptcy protection. They list $440 million in assets and liabilities of $498.8 million, including, interestingly, $93 million owed to collateralized debt obligations (CDOs).''

Whittaker Builders goes Chapter 11

Mon, 19 Oct 2009 21:35:15 GMT

Whittaker Builders out of Missouri has filed for Chapter 11 bankruptcy. See our implosion listing for them on the Builder Implode-O-Meter!

Buena Vista Custom Homes

Fri, 31 Jul 2009 16:19:41 GMT

According to an article in the Portland Business Journal, Lake Oswego, Oregon-based custom builder Buena Vista Custom Homes has been dissolved. See our listing for them at the home builder implode-o-meter.

Dale Thompson Builders files Chapter 11

Fri, 31 Jul 2009 16:18:30 GMT

The Columbia, Maryland-based home builder Dale Thompson Builders has been listed as a "tiny" implosion on the builder implode-o-meter.

Sotherby Homes ceases operations

Mon, 29 Jun 2009 18:54:17 GMT

After much speculation and a steady tracking on the Builder-Implode Ailing / Watch List, Sotherby Homes has been added to the "implosion" list.

Prospect Homes of Richmond files Ch. 11

Thu, 04 Jun 2009 16:55:12 GMT

A 2007 Top 200 builder per builderonline.com, Prospect Homes of Richmond has filed for Chapter 11 bankruptcy protection, and we have added them to our builder implode-o-meter list.

McStain Neighborhoods Files Ch. 11

Mon, 01 Jun 2009 01:29:28 GMT

This more-than-40 year Denver-area builder is filing for Chapter 11 bankruptcy under the crushing housing market and credit crunch strains. Click through to read the whole article.

Mayer Homes Shuts Down

Fri, 29 May 2009 00:33:54 GMT

``The "seventh" largest builder in the St. Louis area has shut down under the pressure of defaults, because of the bear market.''

Two Tinies: Model Homes of Hilton Head and Monarch Homes of Wisconsin

Fri, 15 May 2009 18:51:56 GMT

Two new "tiny" implosions over at Builder-Implode:

Incidentally, those are the actual names of the companies (not just where they are located). Read more at the Builder Implode-O-Meter!