Sunday, August 03, 2008

Down but Not Out

In a previous post I wrote that it appeared as if Altieri Homes was closing up shop. That conclusion may have been a bit premature. According to this story in this weeks’ Baltimore Business Journal, the Columbia based homebuilder is still hoping to avoid bankruptcy. According to story reported by Daniel Sernovitz “the company has been forced to slash its staff from 105 to seven employees, eliminate several communities from its pipeline and turn over much of its construction and marketing work to outside firms. Even with those efforts, Altieri said, the company does not expect to reach firm financial footing for at least another year or more.”