Chicago builder, Neumann Homes, close...

Chicago builder, Neumann Homes, closes branches, prepares bankr...

There are 142 comments on the Chicago Tribune story from Oct 22, 2007, titled Chicago builder, Neumann Homes, closes branches, prepares bankr.... In it, Chicago Tribune reports that:

Neumann Homes, one of Chicago's largest homebuilders, announced on Monday that it intends to file for bankruptcy.

Join the discussion below, or Read more at Chicago Tribune.

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Jason

Woodridge, IL

#2 Oct 22, 2007
Bush Strikes, you are so unpatriotic! A real patriotic American would find a way to blame Clinton for this...
you are a moron

Phoenixville, PA

#3 Oct 22, 2007
What you just said makes no sense at all!
NHI

AOL

#4 Oct 22, 2007
Hey Bush strikes: Great company? You've got to be kidding.

The employees were great....the owners, though, drank too much of their own koolaid....they ran the company into the ground.

They (The Neumann's) thought they were smart...they were idiots at best with huge egos that made very bad decisions.

Blame Bush for a lot of stuff...but not the fallout at Neumann Homes....
mygrlsmom34

North Aurora, IL

#5 Oct 22, 2007
Don't feel bad for Neumann Homes. Feel bad for the hundreds of families who won't have their homes built. Neumann has been in trouble for several months and have continued to write contacts knowing that they would most likey not be able to build or even close th homes. This is terrible news for the Chicago Market.
Sooo

Chicago, IL

#6 Oct 22, 2007
I feel for the homeowners who still want one of the homes and will probably move in. Neumann probably had his cheap laborers skimp on materials, and labor so why move in when the company cannot pay if sued by a homeowner?
Vic2000

Milwaukee, WI

#7 Oct 22, 2007
That is a bummer for the market but I have to say that I'm not sorry to see Neumann go. My home is built by Neumann and though I love it because it's mine, I would never work with the builder again even if they stayed around.
Iescapedthecult

North Aurora, IL

#8 Oct 22, 2007
you right NHI, the people were great and unfortunatly they were all led on for months as to what was really happening to the company. Hate to tell Chicagoland this but they led the public on as much as they people who gave their soals to the company. Think about it when was the last time you saw and ad in the paper. It isn't just Neumann Homes who lost but all the small companies we were subs. Some of them have lost everything due to non-payment, It is a shame for those people. I sure hope they resally do have the money in escrow, cause that would be a first
Brian

Lakeville, MN

#9 Oct 22, 2007
I will not miss their wretched off pitch jingle accompanying their radio ads.
Jim

Elmhurst, IL

#10 Oct 22, 2007
The people under contract, who will eventually get their money back are lucky. Think about it, If you've been under contract for a year or more, you got suckered into buying at the peak of the market, and have been losing money each day. They were going to be stuck buying something that was over valued. I'm not surprised they are filing for bankruptcy, they sure won't be the only ones.
Donald Trump

Woodridge, IL

#11 Oct 22, 2007
You're fired!!!
WMV

Saint Petersburg, FL

#12 Oct 22, 2007
Dear Bush strikes,
You are a complete idiot to rant your anti bush tactics in this blog. BUSH HAS NOTHING TO DO WITH THIS! Go whine somewhere else! These Neumann people got all the money they needed, ran the company into the ground. They file bankruptcy to protect themselves from lawsuits and layoff great workers. They will screw people who were supposed to have a NEW home. These people will have to go through BK court to have any corrections to the house they just moved into. Then in a year or so, the Neumanns will be back. Maybe even under a different name. THIS IS NOT LIKE A BANKRUPTCY YOU OR I FILE, this is a business bankruptcy! They always come out ahead. BUSH HAS NOTHING TO DO WITH THIS! I have to repeat this for certains idiots. If this is a family company, they will get to keep their high salaries. If it it a corp, they will do what kmart did, they will cancel all stock. I know I had 300 shares of kmart stock, they cancelled it. So don't cry about the company, they will be back and happy. As all the others have stated, cry for the home owners and communties who will somehow get screwed when all is said and done.
kellamd

Oshkosh, WI

#13 Oct 23, 2007
Did this BS happen because government regulation of the banking industry was scaled back? In the current Republican speak, anything to do with the government is bad, anything to do with private industry is good. That's why it shouldn't have made any difference when GWB selected a failed horse show judge to be the head of FEMA. If government is just a millstone around everyone's neck, then a horse show judge would be ok for FEMA. Well, we all know how that turned out. And now we all know what happens when you remove all oversight from private industry.
Bigt

Bolingbrook, IL

#14 Oct 23, 2007
They got what they deserved they built a cheap home and sold most of them to people who couldnt aford them They sold for little or no down payments and teaser interest rates. The people hurt the most are the Subs and the school districts and towns they screwed up. The sameful part is the owners didnt lose a dime and they will be back under a new name doing it again
T Rex

Round Lake, IL

#15 Oct 23, 2007
The spelling and grammar used by some of the posters is surely a sign of the new, dumbed down US public.
Billy Ray

United States

#16 Oct 23, 2007
You idiots seriously blame George Bush for the collapse of this company?

People like you are the real problem in this country, not George Bush.

You same morons will be bashing the next president whoever that turns out to be and blaming them for the pitiful lives you created for yourselves..

Teresa Fister

AOL

#17 Oct 23, 2007
Who owns the Federal Reserve?
RayP

Chicago, IL

#18 Oct 23, 2007
Billy Ray wrote:
You idiots seriously blame George Bush for the collapse of this company?
People like you are the real problem in this country, not George Bush.
You same morons will be bashing the next president whoever that turns out to be and blaming them for the pitiful lives you created for yourselves..
I would say people like him/her, you and GWB jr are the real problems.
Appraiserman

Naperville, IL

#19 Oct 23, 2007
This has nothing to do with politics. This is just bad business with a builder who was too financed on their developments and never experienced nor planned for a downturn in the real estate market. If anything feel sorry for the people who recently purchased in home in not yet completed subdivisions.
South of I-80

Springfield, IL

#20 Oct 23, 2007
I think there might be some home building workin in California....insurance money too!
educator2

Palatine, IL

#21 Oct 23, 2007
It would help if some of the people commenting on this would learn how to spell

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