Events
Homebuilders Industry Dinner
Majestic Research invites you to join us for dinner and conversation with executives and experts from the Homebuilders industry. Please join us for cocktails at 6:00 pm, followed by dinner at 6:30 pm at A.J. Maxwell’s Steakhouse in Midtown Manhattan. Detailed bios of the attending industry experts are provided below for your information. The event runs from 6:00 pm – 9:00 pm
When: September 27, 2006
Where: Manhattan, NY
A.J. Maxwell’s Steakhouse
57 W. 48th Street, NYC
Between 5th & 6th Avenues
RSVP:
Please note that space is limited and priority will be given to premium clients. If you plan on attending, please RSVP to Katie Elliott as soon as possible (katherine.elliott@majesticresearch.com or 646-442-6092). We hope to see you there!
Industry Experts Attending:
Mr. Chester Sadowski has over thirty years of experience in the residential home building industry. He worked at the U.S. Home Corporation, an independent company listed on the New York Stock Exchange and one of the largest homebuilding companies in the United States, for almost 30 years. There he assumed positions of increasing responsibility and authority including Audit Senior, Director-Internal Audit, Controller, and Senior Vice President. When U.S. Home became a wholly owned subsidiary of Lennar Corporation in May 2000, Mr. Sadowski took on the position of a Central Region Controller. In this role, he supervised 25 operating divisions, two captive insurance subsidiaries, and a 15 region accounting staff. He participated in due diligence of potential acquisitions and directed the successful integration of seven acquisitions into Lennar’s operational and financial reporting systems. The region produced in excess of $2 billion in annual revenues. Since 2003 he has been an independent consultant to the real estate industry.
Mr. Michael May has been working in the homebuilding industry for the past 23 years. His most recent position (2005-2006) was a Vice President at Wall Homes, a company targeting first-time and second-time move-up buyers with a price range from $130k to $300k and a range in size from 1,600 sq. ft. to over 3,000 sq. ft. His responsibilities included full P&L control for the DFW region as well as land acquisition, product development, and creation of construction, sales, warranty, and architecture departments. He assisted in all policy and procedure creations as well as design of personnel, subcontractor, and buyer contracts. He contracted over 1,900 lots, managed the creation of over 100 new floor plans, and completed seven new model home parks with seven more under construction.
Mr. Paul Giusti has had 17 years of experience in the homebuilding industry. He is currently the CEO of Brookstone Homes, one of the 400-largest home builders in the US; his management team doubled sales, improved operational margins by 70%, and maintained an ROE in excess of 50%. In 1996, Mr. Giusti sold Brookstone Homes to the Fortress Group, a publicly-traded corporation with $735 million in annual revenue. Following the transaction, he joined The Fortress Group and worked in various executive positions. During his tenure with The Fortress Group, Mr. Giusti served as Vice President, responsible for four divisions with operations in five states totaling $125 million in annual sales, and Chief Operating Officer, responsible for 11 divisions in 16 states with 1,200 employees. He was also responsible for creating and leading the implementation of the strategic plan to build the Fortress Group into a national, integrated company from a roll-up of disparate acquisitions. In 2001, Mr. Giusti led the management buyout to purchase Brookstone Homes back from The Fortress Group. He led both the sale and the buyout of Brookstone Homes, negotiating the purchase, arranging the financing, and structuring the transaction. Prior to his work in the real estate industry, Mr. Giusti worked for General Electric in various management capacities. Mr. Giusti holds an MBA from the Harvard Business School.
Mr. Joe Novella is one of the most experienced and respected developers in the State of Connecticut, and has been a leader in residential community development for over twenty years. He is the owner of Novella Development, LLC, a 40-year-old, 2nd generation company and was the CT Division President of Ginsburg Development Company for five years. Joe has been recognized numerous times in the industry and was twice honored as “Builder of the Year,” having managed the development of more than a dozen luxury communities representing well over 1,000 homes. Joe’s additional awards include all phases of community development from site design, architecture, options, clubhouses, and customer satisfaction. Joe’s most recent community - Woodland Hills in Danbury, CT - received eight Connecticut Home Builders’ Association awards including “Community of the Year.”
Majestic Research Representatives:
John Tomlinson, Director, Senior Analyst, Auto Retail & Homebuilders, has been covering the automotive industry since 2000. Prior to joining Majestic, John was the Senior Auto Retail Analyst for the Prudential Equity Group after serving as an associate for an Institutional Investor-ranked Automotive team. He received a BS in Accounting from Syracuse University and an MBA in Finance from Wake Forest University. John is also a CFA charter holder and a CPA.