January 29, 2008
No Suprise Here
Analysis of:
TOUSA Files for Chapter 11 Bankruptcy | www.bigbuilderonline.com
This analysis is solely the work of the author. It has not been edited or endorsed by GLG.
Implications: This event has been months in the making, ever since restructuring experts were brought in last fall. The question is, are there more Top 25 builders headed down the same path?
Analysis: TOUSA had one of the weakest balance sheets in the industry before the downturn began, built on overpaying for acquisitions at the top of the market.
Analysis: TOUSA had one of the weakest balance sheets in the industry before the downturn began, built on overpaying for acquisitions at the top of the market.
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