Waterbuffalo
02-12-2008, 04:04 AM
Thought this might be of interest to you all. Its a quote out of the middle of a financial piece from the Seattle Times but shows some of the area's Home Building concerns for even this company that has a home building unit.
"Until the housing market recovers, our real-estate, wood products and timberlands businesses will struggle," Daniel Fulton, Weyerhaeuser's president, said in a conference call.
Weyerhaeuser owns homebuilder operations in the Seattle area, Houston, Southern California, Las Vegas, Scottsdale, Ariz., and suburban areas around Washington, D.C. It also invests in residential real-estate development and sells forestland as home sites.
Real-estate segment earnings sank 93 percent to $22 million in the fourth quarter as the U.S. housing market crumbled.
Executives said even cities such as Houston and Seattle, which initially fared better than Southern California, Las Vegas and the Phoenix area, have begun to show signs of fatigue. Weyerhauser said it expects the division to post a loss in the current first quarter."
There is a pie chart and a whole lot more information that some of you might be interested in for a Pacific NW and International company.
Please read the story here:
http://seattletimes.nwsource.com/html/businesstechnology/2004173145_weyco09.html
"Until the housing market recovers, our real-estate, wood products and timberlands businesses will struggle," Daniel Fulton, Weyerhaeuser's president, said in a conference call.
Weyerhaeuser owns homebuilder operations in the Seattle area, Houston, Southern California, Las Vegas, Scottsdale, Ariz., and suburban areas around Washington, D.C. It also invests in residential real-estate development and sells forestland as home sites.
Real-estate segment earnings sank 93 percent to $22 million in the fourth quarter as the U.S. housing market crumbled.
Executives said even cities such as Houston and Seattle, which initially fared better than Southern California, Las Vegas and the Phoenix area, have begun to show signs of fatigue. Weyerhauser said it expects the division to post a loss in the current first quarter."
There is a pie chart and a whole lot more information that some of you might be interested in for a Pacific NW and International company.
Please read the story here:
http://seattletimes.nwsource.com/html/businesstechnology/2004173145_weyco09.html