Search / 24 posts tagged wimpey

Woo hoo! They are getting desperate now. As the BBC helpfully point out in the second paragraph "The current £125,000 threshold will be raised from Wednesday in a move aimed at kick-starting the housing market." So, big deal.

The car crash in slow motion continues unabated.TW's interim results presentation is very detailed, but the best bits are in the BBC article:1. TW have written down the value of their land bank by £690m.Sorry chaps, that's not good enough.

It has been announced that 750 jobs, which equates to 40% of their workforce are to go in a massive cut back by Redrow and Bovis Homes. House Builder by Charles Fred The deep depression in the housing market is as bad as back in the early 1990’s.

Housebuilders ploughed on with their growth plans at the top of the market and now they're paying the price, finds Mark Leftly. Once again, Tony Pidgley, the Barnardo's boy turned multimillionaire residential builder, is set to make a killing out of a property downturn.

I've just stumbled across a shed load of interesting statistics in an FT article of last week: Between 1989 and 1994, housebuilders wrote off more than £1bn from their balance sheets – nearly a third of the value of their land banks.

BBC News US group pulls out of plan to invest in Bradford & Bingley AFP - 5 hours ago LONDON (AFP) — Bradford & Bingley said on Friday that US investment group TPG Capital had pulled out of an agreement to buy about one quarter of the ...

There is now a very real chance that Taylor Wimpey, the UK's largest housebuilder by production, could become the first builder to fall victim to the credit crunch. Created from a merger of Taylor Woodrow and Wimpey just a year ago, the company has stolen the dubious mantel of housebuilder most likely

Texas Pacific Group appear to be stumbling from one disaster to another. They have pulled out of investing in Bradford & Bingley and are now thinking of investing in Taylor Wimpey at what appears to be a vastly over-inflated price (compared to its break-up value).

Little Professor over at HPC asks whether TPG have a deathwish. Per their balance sheet, TW have plant & equipment and cash/cash receivable worth £614 million and liabilities of £3,964 million. All the other crap like 'intangibles', 'goodwill', 'deferred tax asset' and so on is worthless, let's assume.

Private equity may soon ride to the rescue of debt-laden U.K. homebuilders....