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  • analyst_usa analyst_usa Feb 10, 2003 4:44 PM Flag

    This stock is a disaster...

    I also wondered about the BSI reference, and have begun to dig back into the history of BSI.

    Some say that Masco did not do its homework on the Behr acquisition - and did not protect itself adequately with recourses to owners of Behr. I recall reposting an extremely cautionary post by someone on this board written way ahead of the court findings - which, as you know, Masco delayed releasing for nearly a week.

    The Chairman of BSI before its acquisition by Masco, Larry Solari, is now just a Masco "Executive". However, he has been on the board of Beazer Homes since 1994 - and Beazer, a major homebuilder, appears to compete somewhat with Masco Contractor Services. Therefore Beazer an unlikely MCS customer.

    Probably a different story with Detroit-based Pulte, the nation's largest homebuilder, which co-sponsored with Masco that puff piece announced about a week ago predicting 20 years of stellar growth for homebuilding, hence, presumably, for Pulte and Masco.

    "The Housing Boom: Another 20 Years of Growth" was released at the recent International Builders Show in Las Vegas - and takes issue with economists who see a major residential downturn ahead.

    In researching, I noticed the following interesting Key Stock Statistics from S&P:

    Beazer - Value of $10,000 invested 5 years ago (as of 12/31/02) - $27,586

    Pulte - Value of $10,000 invested 5 years ago (as of 12/31/02) - $24,056

    Masco - Value of $10,000 invested 5 years ago (as of 12/31/02) - $ 8210.

    [AS OF 2/8/03 - $ 7370]

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    • Sorry Analist but your assumtion is wrong Beazer Homes is a longtime customer of MCS why would you think they are compeditors? MCS is not in the home building business.

      • 1 Reply to thebambino60
      • Thanks, Babe. I know that MCS is not in the home building business, but it struck me that Beazer was getting into the home services business. Is it possible that some of what (companies now owned by) MCS provided to Beazer may now be provided by Beazer directly?

        I got my impression from a recent SEC filing in which Beazer described its business - including:

        "Additional Products and Services for Homebuyers:

        In order to maximize our profitability and provide our customers with the additional products and services that they desire, we have incorporated design centers and mortgage origination operations into our business.

        Recognizing that homebuyers want to choose certain components of their new home, we offer limited customization through the use of design centers in most of our markets.

        These design centers allow the homebuyer to select certain NON-STRUCTURAL customizations for their homes such as cabinetry, flooring, fixtures, appliances and wallcoverings."

 
MAS
26.19-0.03(-0.11%)Feb 27 4:08 PMEST

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