Reports swirled in the Sacramento-area building industry scene today that Fort Worth-based D.R. Horton Inc. (DHI on NYSE) had cut local staff and moved some functions to its Concord-based Northern California division.
I made a call and queried Horton media exec Jessica Hansen in Fort Worth and received this rather opaque response. A further question or two regarding clarification received no response:
Horton is one of the nation's biggest builders and has been one of the capital region's biggest home builders for years. Last week the firm reported a $1.3 billion loss for its second fiscal quarter ended March 31.
Here is the statement:
Regarding D.R. Horton, Inc. - Sacramento
The following statement is to be used in its entirety or not at all:
D.R. Horton has been a leader in the homebuilding industry in Sacramento for over 10 years. Our Sacramento sales, construction and customer service will continue to be managed locally, while certain support functions will now be handled by our Northern California division office. We currently offer homes for sale in 9 communities in the Sacramento area. Each of our homes is covered by a comprehensive warranty program, and we look forward to continuing to provide quality, affordable homes in the Sacramento area.
If anyone here has a clearer idea of what's going on than what we're hearing from corporate please share it with us on this blog. (I am starting to hear privately that most of the office was laid off and that only a handful of execs. remain)
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