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Written by Reggie Middleton
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Tuesday, 18 September 2007 |
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Ara Hovnanian sponsors the "Deal of the Century" to clear overvalued inventory. Okay, strategic move that makes sense, I give him that. Then his company issues a press release with enough BS to fertilize every garden in Jersey. This draws down significantly on the credibility credit line. Then he has the nerve to call a bottoming in the residential real estate industry, when he KNOWS better - and if you read further I will prove without a doubt that he know better. This maxes out his credibility credit line. Yes, I am short his company, and for a very good reason(s). Let me count the ways: 
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Last Updated ( Sunday, 07 September 2008 )
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