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Jeffrey Mezger

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BUSINESS
November 14, 2006 | Annette Haddad, Times Staff Writer
Jeffrey Mezger got bitten by the building bug at an early age. As a teenager growing up in Chicago, he would often help out at his family's building business, laying sod or painting walls, even accompanying his developer father to planning commission meetings that would often last until midnight. "I actually liked it," he said. Mezger, 51, may need to keep those fond memories close at hand in his new role as chief executive of KB Home, the fifth-biggest U.S. home builder.
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BUSINESS
March 19, 2014 | By Stuart Pfeifer
KB Home Inc. shares were up nearly 7% in early trading Wednesday after the Los Angeles home builder said it posted a first-quarter profit for the first time since 2007. Revenue, home prices and future orders rose significantly as the company continued to benefit from the rebound of the housing market. The company reported revenue of $451 million for the three months ended Feb. 28, up 11% from the $405 million of revenue it posted in the same period a year earlier. The average selling price of a new home was $305,200, an increase of $33,900, or 12%, from the year-earlier quarter.
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BUSINESS
December 13, 2012 | By Roger Vincent
KB Home plans to build more than 100 residences in the final phase of the Playa Vista community near Marina del Rey. KB Home bought land from Brookfield Residential Properties Inc., the new master developer of Playa Vista. Brookfield gained command of more than 50 acres of land near the coast in a transaction this month valued at more than $250 million. "Playa Vista has become one of the crown jewels of Los Angeles' Westside, and we're very pleased to be a part of its next evolution," said Jeffrey Mezger, president and chief executive officer of KB Home.
BUSINESS
January 22, 2013 | By E. Scott Reckard
KB Home and Nationstar Mortgage Holdings Inc. are forming a joint venture that will offer home loans to KB customers across the country, so they can shop for a house and a mortgage at the same time. Nationstar, of Lewisville, Texas, agreed last year to be KB's preferred lender, providing representatives to pitch mortgages to potential buyers at KB's tracts of new homes. Those employees will now work for Home Community Mortgage, the new company jointly owned by KB and Nationstar. Jeffrey Mezger, president and chief executive of Los Angeles-based KB, called the venture a “natural progression” for the nation's fifth-largest home builder.
BUSINESS
February 22, 2007 | Annette Haddad, Times Staff Writer
KB Home's chief executive earned $5.9 million in total compensation and stock awards last year, less than half of what he earned the previous year and a fraction of the pay raked in by his predecessor, according to a company filing Wednesday. For the fiscal year that ended Nov. 30, Jeffrey Mezger received a $568,750 salary, a $2.
BUSINESS
September 21, 2012 | By Alejandro Lazo
Los Angeles home-builder KB Home surprised Wall Street on Friday with a positive earnings report for the third quarter reflecting the recent housing rebound in California and beyond. The company booked $3.2 million in profit, or 13 cents a share, compared with a loss of $9.6 million, or $2.50 a share, during the same period last year. Analyst estimates had expected a 15-cents-per-share loss, according to Bloomberg News. Revenue was up 16% to $424.5 million after the company sold more homes at higher prices.
BUSINESS
March 19, 2014 | By Stuart Pfeifer
KB Home Inc. shares were up nearly 7% in early trading Wednesday after the Los Angeles home builder said it posted a first-quarter profit for the first time since 2007. Revenue, home prices and future orders rose significantly as the company continued to benefit from the rebound of the housing market. The company reported revenue of $451 million for the three months ended Feb. 28, up 11% from the $405 million of revenue it posted in the same period a year earlier. The average selling price of a new home was $305,200, an increase of $33,900, or 12%, from the year-earlier quarter.
BUSINESS
January 22, 2013 | By E. Scott Reckard
KB Home and Nationstar Mortgage Holdings Inc. are forming a joint venture that will offer home loans to KB customers across the country, so they can shop for a house and a mortgage at the same time. Nationstar, of Lewisville, Texas, agreed last year to be KB's preferred lender, providing representatives to pitch mortgages to potential buyers at KB's tracts of new homes. Those employees will now work for Home Community Mortgage, the new company jointly owned by KB and Nationstar. Jeffrey Mezger, president and chief executive of Los Angeles-based KB, called the venture a “natural progression” for the nation's fifth-largest home builder.
BUSINESS
January 13, 2010 | By Alejandro Lazo
A construction site in Irvine is alive with the sound of the boom years. Workers hammering fresh wood beams shout orders at each other in Spanish. Diesel trucks rumble through newly paved subdivisions. Men with scrolls of construction plans tucked under their arms bark instructions into mobile phones. The cacophony emanating from the Irvine Co.'s newest project -- 685 houses and town homes in the company's Woodbury and Woodbury East developments -- is rare these days. To get the project off the ground, Irvine Co., which typically sells land to builders, is financing the project itself after enlisting six builders to put up the homes for a fee. "All of these people were probably unemployed or underemployed," Thomas G. Veal, Irvine Co.'s vice president for residential marketing, said as he stood on a stack of plywood surveying one of the company's work sites.
BUSINESS
June 27, 2009 | Peter Y. Hong
The head of one of the nation's largest home builders said Friday that home prices were stabilizing in some parts of the country but ongoing economic woes would continue to challenge the housing market. "In many markets we're seeing a bottom form on price," KB Home Chief Executive Jeffrey Mezger said in a conference call with analysts. In some areas of Southern California where the company sells homes, monthly payments "are lower than rent today," he added.
BUSINESS
December 13, 2012 | By Roger Vincent
KB Home plans to build more than 100 residences in the final phase of the Playa Vista community near Marina del Rey. KB Home bought land from Brookfield Residential Properties Inc., the new master developer of Playa Vista. Brookfield gained command of more than 50 acres of land near the coast in a transaction this month valued at more than $250 million. "Playa Vista has become one of the crown jewels of Los Angeles' Westside, and we're very pleased to be a part of its next evolution," said Jeffrey Mezger, president and chief executive officer of KB Home.
BUSINESS
September 21, 2012 | By Alejandro Lazo
Los Angeles home-builder KB Home surprised Wall Street on Friday with a positive earnings report for the third quarter reflecting the recent housing rebound in California and beyond. The company booked $3.2 million in profit, or 13 cents a share, compared with a loss of $9.6 million, or $2.50 a share, during the same period last year. Analyst estimates had expected a 15-cents-per-share loss, according to Bloomberg News. Revenue was up 16% to $424.5 million after the company sold more homes at higher prices.
BUSINESS
January 13, 2010 | By Alejandro Lazo
A construction site in Irvine is alive with the sound of the boom years. Workers hammering fresh wood beams shout orders at each other in Spanish. Diesel trucks rumble through newly paved subdivisions. Men with scrolls of construction plans tucked under their arms bark instructions into mobile phones. The cacophony emanating from the Irvine Co.'s newest project -- 685 houses and town homes in the company's Woodbury and Woodbury East developments -- is rare these days. To get the project off the ground, Irvine Co., which typically sells land to builders, is financing the project itself after enlisting six builders to put up the homes for a fee. "All of these people were probably unemployed or underemployed," Thomas G. Veal, Irvine Co.'s vice president for residential marketing, said as he stood on a stack of plywood surveying one of the company's work sites.
BUSINESS
June 27, 2009 | Peter Y. Hong
The head of one of the nation's largest home builders said Friday that home prices were stabilizing in some parts of the country but ongoing economic woes would continue to challenge the housing market. "In many markets we're seeing a bottom form on price," KB Home Chief Executive Jeffrey Mezger said in a conference call with analysts. In some areas of Southern California where the company sells homes, monthly payments "are lower than rent today," he added.
BUSINESS
February 28, 2009 | Roger Vincent
The chief executive of struggling housing developer KB Home Corp., Jeffrey T. Mezger, received more than $9.6 million in compensation in fiscal 2008, the Westwood company said Friday. KB Home, California's largest home builder, lost nearly $1 billion last year as the industry was battered by a glut of foreclosed homes that undercut the prices of new residences and shrank demand. Buyers were also discouraged by the reeling economy and challenges finding loans.
BUSINESS
February 22, 2007 | Annette Haddad, Times Staff Writer
KB Home's chief executive earned $5.9 million in total compensation and stock awards last year, less than half of what he earned the previous year and a fraction of the pay raked in by his predecessor, according to a company filing Wednesday. For the fiscal year that ended Nov. 30, Jeffrey Mezger received a $568,750 salary, a $2.
BUSINESS
February 28, 2009 | Roger Vincent
The chief executive of struggling housing developer KB Home Corp., Jeffrey T. Mezger, received more than $9.6 million in compensation in fiscal 2008, the Westwood company said Friday. KB Home, California's largest home builder, lost nearly $1 billion last year as the industry was battered by a glut of foreclosed homes that undercut the prices of new residences and shrank demand. Buyers were also discouraged by the reeling economy and challenges finding loans.
BUSINESS
March 6, 2008 | From Times Wire Services
KB Home Chief Executive Jeffrey Mezger received compensation of $16.4 million last year as housing demand and the firm's stock price slumped. Mezger's compensation in the fiscal year ended Nov. 30 included a base salary of $1 million, a bonus of $6 million, stock awards of $4.2 million and stock options worth $3.7 million, the Westwood company said in a regulatory filing. Shares rose 23 cents to $23.06. They have fallen 51.7% in the last year.
BUSINESS
November 14, 2006 | Annette Haddad, Times Staff Writer
Jeffrey Mezger got bitten by the building bug at an early age. As a teenager growing up in Chicago, he would often help out at his family's building business, laying sod or painting walls, even accompanying his developer father to planning commission meetings that would often last until midnight. "I actually liked it," he said. Mezger, 51, may need to keep those fond memories close at hand in his new role as chief executive of KB Home, the fifth-biggest U.S. home builder.
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