Study Group: Accounting & Finance Professionals who Specialize in Homebuilding
Council Members in this Study Group: 42
This study group may include chief financial officers, chartered public accountants, controllers, and consultants knowledgeable on topics such as finance, taxation, auditing, forensic accounting and fraud, financial accounting and reporting, bankruptcy, pension benefits, cash flow, company valuation, working capital, hedge accounting, and mergers and acquisition, among others.
Contact Gerson Lehrman Group to survey or consult with members of this Study Group
Leading institutions connect with members of this Study Group through GLG
Leading Experts in this Study Group
- David Keller
Former Chief Financial Officer
Technical Olympic USA Inc.
David J. Keller most recently served as the Chief Financial Officer and Treasurer at Technical Olympic, a NYSE national homebuilding company. Prior to this, Mr. Keller served as the Chief Financial Officer at Citifinancial, a subsidiary of Citigroup....
- Vishesh Chandiok
Partner - Head of India
Grant Thornton India
Vishesh Chandiok is the Partner Head of India at Grant Thornton, India. He has over 11 years of accounting and finance experience across various industries. Mr. Chandiok‘s area of expertise includes real estate & infrastructure (includes power, construction,...
GLG NewsSM Analyses by this Study Group's Leading Experts(?)
Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
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Continued Housing Difficulties
May 14, 2008
Analysis by: David Keller, Former Chief Financial Officer,The Housing Crisis is Over | online.wsj.com
The housing bust is not over and trends continue to be negative. The only positive activity is that homebuilding stocks have gone up, without a good reason. We still have a ways to go to work through all this.
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Direct Expensing of Interest by Homebuilders
May 6, 2008
Analysis by: David Keller, Former Chief Financial Officer,Hidden Mortgage Risks Abound in U.S. Home Market | www.bloomberg.com
Not capitalizing interest in inventory causes acceleration of losses and deterioration of book value.
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ARE HOMEBUILDING STOCK PRICE INCREASES PREMATURE?
April 24, 2008
Analysis by: David Keller, Former Chief Financial Officer,Construction Companies Are Clamoring for Managers | online.wsj.com
Recently, stock prices of most public homebuilders have increased 20-30 percent. This despite no visible signs of improvement in the overall housing industry. It seems early in the cycle for these stock price upward movements, as it appears the housing market has not yet found bottom. Equity buyers at the present stock prices must be patient and have a mid- to long-term perspective on their investments. There may be several reasons for the recent price appreciation including: 1. Short sellers covering positions as hedge funds encounter increasing risks in other parts of their portfolios or simply decide to concentrate their efforts in another sector. 2. A perception the government enacted or proposed initiatives will cause significant improvement in homebuilding activities, including sales and financing of homes. 3. A belief the housing downturn is at or nearing bottom and this is the appropriate time to purchase homebuilder stocks.
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IMPAIRMENT REVERSALS – IMPACT ON COST OF GOODS SOLD
April 24, 2008
Analysis by: David Keller, Former Chief Financial Officer,New-Homes Supply Builds; Durable Goods Orders Slide | online.wsj.com
Homebuilders have recorded large inventory impairments over the last couple of years. Most of these impairments have been for land and lots. As these previously impaired lots are built on and a completed home is delivered, the land component as a percentage of Cost of Goods Sold may decline significantly.
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March 3, 2008
Analysis by: David Keller, Former Chief Financial Officer,Decline in Home Prices Accelerates | online.wsj.com
There are risks associated with homebuilding assets and contingent obligations. This article alerts the reader to areas of interest.
Members in this Study Group include these company types:
- Operative Builder/Developer
- Consulting Firm
- Brokerage/Agency
- Accounting & Audit Firm
- Market Data/Research Services Provider
Members in this Study Group often have these job titles:
- Chief Financial Officer
- Principal
- Director
- Partner
- Controller