In January 2004, Forbes magazine announced that D R Horton was the best run construction company. That is also the year that Horton was rabidly performing predatory lending on consumers. In an article printed by the Dallas Morning News, http://rismedia.com/wp/2004-06-17/dr-horton-inc-will-sell-two-dozen-houses-for-practically-nothing/print/, Horton explained how his business “wasn’t run to suit Wall Street,” and that it took “care of its people,” going so far as stating that he prides himself on “lavishing workers with perks.” http://www.forbes.com/lists/2006/10/76C1.html Further, Horton stated that he held servicemen in high esteem and that he made up the pay difference when the reservists were called. Horton put his best face forward, but here is the actual truth: His CEO Donald Tomnitz produced an internal email on November 21, 2005 whereby his first and only concern is achieving premium stock valuation even at the expense of skirting federal lending laws. Please see the below scan. As for the servicemen, a veteran and several current military service people have contacted me and stated that Horton has essentially s#@* on them from mortgage lending to warranty misrepresentation. As for taking care of their employees, I have found dozens of defectors for the following reasons: Just before their commissions are due, sales staff and mortgage brokers are fired……….and then rehired after those commissions have been forfeited. Just before their one year benefits vest, employees are fired……………..and then rehired to commence their second year of service to Horton. Where sub contractors are concerned, final payments are withheld or some aspect of their performance is questioned so that final payment is seldom received. Some subs under contract are bargained down under duress for fear of not getting the next progress payment and cash flow to stave off bankruptcy. The dozens of insiders feeding me information are likewise victims of this RICO operating company. Their ‘perks’ were anything but. Quick online searches yield actions for wrongful termination across the nation. As for Tomnitz’s crimes………he has known of federal fraud since 2004 and has done nothing to prevent it after dozens of demands. Visit www.donaldtomnitzisacrook.com and www.donaldtomnitzisacrook.info, and six other interlinked sites.
