Word: webbe
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...wrecked the hopes of many a builder, leaving even big outfits like Pulte Homes, based in Bloomfield Hills, Mich., with unsold homes and too much land. Once the nation's largest builder by revenue, it dropped to No. 4 after a bad 2006 but found solace in its Del Webb brand, aimed at people 55 and older. TIME's Cathy Booth Thomas talked to Pulte president and CEO Richard Dugas, who is banking on these baby boomers to help the bottom line. For the record, he is, at 41, too young to live in a Del Webb community...
With many baby boomers turning 60, the Del Webb communities might be Pulte's savior in a shaky market, right? In 2006, Del Webb represented almost 40% of your business...
That's fairly accurate. But it's a particular type of housing that's in demand. This group is not looking for a home. They are looking for a new lifestyle. All Del Webb communities have full-time lifestyle directors. They arrange trips to local games, organize club events, hold fitness classes--all things not found in a traditional community...
...high prices confined to a few Chinese stocks. Webb estimates that the average P/E for "A" shares (stocks available to mainland investors on China's Shanghai and Shenzhen bourses) is 34; the current P/E for U.S. stocks in the S&P 500 Index is 18. Want more proof? A report by investment bank JPMorgan notes that of 37 Chinese companies listed jointly in Shanghai and Hong Kong, eight trade on the mainland at valuations at least double those quoted in Hong Kong. "The risk-reward picture is unhealthy at the moment," says Frank Gong, JPMorgan's chief economist for China...
...with the grain rather than against the grain of the market system that has produced all this potential.” Both said it was essential to address inequality to combat an increasing shift towards protectionism. However, some of the committee members such as Sen. James Webb (D-Va.), who once wrote that globalization and illegal immigration are leading to “a different life and a troubling future” for middle-class Americans, were less enthusiastic about free trade’s effect on the United States. Robert Z. Lawrence, the Williams Professor of International Trade...