August 4, 1995 |
A major East Coast home-builder that entered the Southern California housing market just last year has laid off 14 workers in Orange County and San Diego, and closed its San Diego division. Some real estate sources said the home-builder, Hovnanian Enterprises Inc., may scale back its Southern California operations even more in the wake of declining home sales and housing prices here, but Nick Pappas, president of the company's Newport Beach division, insisted that Hovnanian is "here to stay."
September 18, 2007 |
Struggling builder Hovnanian Enterprises Inc. on Monday claimed "huge success" with its weekend sales blitz, which included six-figure discounts on homes being built or completed in 19 states. The preliminary results from the "Deal of the Century" event exceeded expectations, said Ara K. Hovnanian, president and chief executive.
September 7, 2006 |
Three of the nation's biggest home builders issued downbeat news about the housing market Wednesday, warning that buyers' increasing wariness could affect their businesses more severely than previously thought. Citing weaker-than-expected demand, Los Angeles-based KB Home cut its full-year profit forecast for the second time in three months. Separately, Red Bluff, N.J.-based Hovnanian Enterprises Inc. said quarterly profit dropped 36%. And Robert Toll, chief executive of Horsham, Pa.
June 15, 1994 |
In another sign that Orange County's housing market is recovering, a New Jersey home builder has purchased StoneBrook Homes in Newport Beach and acquired 98 housing sites in Yorba Linda. Hovnanian Enterprises Inc., the nation's 10th-largest home builder, purchased StoneBrook for less than $1 million, but possible incentives to management if the company is successful could push the purchase price to about $2 million, according to Nick Pappas, president of K. Hovnanian Cos.
December 20, 2001 |
Home builder Hovnanian Enterprises, moving to claim a bigger stake in the brisk housing market in the Inland Empire, said Wednesday it agreed to acquire Forecast Group in Rancho Cucamonga for about $225 million. The deal would elevate Hovnanian Enterprises into the ranks of the nation's 10 largest home builders and make the combined company the second-largest builder in Southern California behind KB Home.
December 6, 2004
Today * U.S. Trade Representative Robert B. Zoellick meets the new European Union trade commissioner, Peter Mandelson, in Paris. * Circuit City Stores Inc. and Navistar International Corp. release quarterly earnings. Tuesday * Kroger Co. and Hovnanian Enterprises Inc. release quarterly earnings. * Labor Department reports on third-quarter productivity and costs. * Federal Reserve reports on consumer credit for October. Wednesday * AutoZone Inc. releases quarterly earnings.