Company Focused on Generating Cash: Beazer says payment issue was `overblown'

“Frankly, all we did was tell subcontractors and vendors, with the consolidation in accounting centers in October and November, we wanted to go to once-a-month billing instead of twice-a-month billing”

Beazer Homes USA is able to pay its subcontractors, and news reports it was delaying payments were 'overblown,' a company official said Tuesday.

Speaking at the Bank of America Securities Credit Conference in Orlando, Fla., Beazer Chief Financial Officer Allan Merrill said the company recently started paying subcontractors once a month, rather than twice a month. The change was part of the company consolidating about 30 accounting centers into six.

Beazer officials have tried to assure investors and consumers the company can weather one of the sharpest housing-market downturns in recent history, even as it grapples with federal investigations into its business practices. Read more

[John Doe]

FBI>..BS. The FBI never launched an investigation. The observer (POS RAG) STILL is flaunting this DISinformation.