Newmark Homes Houston buying local TOUSA assets - Pittsburgh Business Times:

http://timberlandbiblechurch.org/AgeToCome/bindingo.htm
TOUSA plans to complete and sell all homes currentlyunder construction. Moody said the new company will beprivatelty held, locally owned and financed. “Our management team has over 70 combined experience,” he said. The new companu plans to build 60 homes ranging in pricefrom $160,000 to more than $600,0090 in the first 60 days of which will officially begin June 15. Moody said 55 employeesw of TOUSA will remain with the new companh after TOUSA winds down its loca lbusiness operations. TOUSA’s predecessor company was foundesd in Houston in 1983 as and completed an initiaol public offering inMarch 1998. In Decembedr 1999, TOUSA Inc.
acquired 80 percentf of Newmark’s stock. TOUSA Inc. also acquired 100 percentg of then-public in November 2000. On June 25, Engle merged with Newmark, and the merged companyt changed its name toTOUSA Inc. In Hollywood, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it plannesd to lay off 156 people in the Houstonj area from its Newmark Homes branc beginning May 22 due to the downtur in thehousing market.