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Lennar stock tanking, outlook not so hot for future....
September 17, 2008 by DugoutNut
Lennar lost value, like most of the rest of the stock market today. With the coming loss of nearly 30% of Lennar’s sales, due to the loss of the ability to fund buyers down payments for FHA loans, I think we can expect further and more significant losses in Lennar’s (LEN) stock value.
There is also, according to multiple sources of mine, coming layoffs in the next week or so. These are expected to be significant layoffs, not just a few people to trim fat. My understanding is that they are going to cut into the meat this time. Some executive positions are going to be cut while divisions and leadership are consolidated. Like most companies Lennar has waited too long to adjust to the market and economy.
Not a fun time to work for Lennar. With all the Lennar complaints, Lennar defects, Lennar bankruptcies and Lennar turmoil there must be more pleasant places to work.
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