A Dismal Standard
A veteran builder bemoans the state of the construction industry today
Most of the roughly 1.5 million houses built every year are pieced together in a wasteful, antiquated way that has changed remarkably little in 150 years. While many industries have reinvented themselves, taking advantage of cutting-edge technologies and innovative management styles, home building has not. As a result, new homes are an overly defective product, many of which will be lucky to survive their mortgage...Those who end up in the trades often get there because they ran out of options. My brother is a psychologist who evaluates inmates for a state penal institution. He tells me that at least 75% of the convicted felons he interviews were previously in the construction industry. I've also read that the building trades have the highest industry incidence of drug and alcohol abuse. When all hope and good intention are gone, you always can go out and build somebody's home. With few young people getting into the building trades, many contractors are resorting to day laborers or illegal immigrants or, basically, anyone with a pulse. Most work in the trades today requires no qualifications or training.

Upon Further Review: Google, Lennar, KB Home, Pulte Homes, and Monster Worldwide
A daily feature available on SchaeffersResearch.com is "Upon Further Review." Every day, we'll focus on the day's action of newsworthy stocks that are generating a lot of attention. By digging into the stock's sentiment and technical backdrop, we hope to shed some light on the securities. Appearing in today's Upon Further Review are Google, Lennar, KB Home, Pulte Homes, and Monster Worldwide... While today's rally among homebuilders has been a nice respite, it's unlikely the group's losing ways will come to an end until the last of the bulls leave the building.

State body footed $1,000 lunch bill
When it comes to questionable government spending, most of us have heard of the $600 toilet seat bought by the defense department a few years ago. Here's one from Austin that may top it - the $1,000 lunch… A recent audit by the Texas comptroller found in its first two years, the TRCC spent $573,000 on public relations, including more than $90,000 for a Washington based PR firm and another $483,000 for an Austin PR firm…  Records show that Burson-Marsteller charged the TRCC more than $1,000 to review a speech over lunch, $645 to write a letter to the editor of the Austin American Statesman, nearly $2,500 to write an op ed column for the Austin paper and $1,400 to write a speech for delivery in San Antonio.  Video: Byron Harris Reports: State body footed $1,000 lunch bill

Campaign cashes in before new donation limits
Real-estate developers and others in the construction industry gave more than $100,000 to state Supreme Court candidate John Groen in the final weeks before strict new limits on campaign donations went into effect...Campaign spending in Supreme Court races has soared in recent years, thanks largely to the Building Industry Association of Washington (BIAW) and its allies. During the past two elections, the builders spent more than $420,000 to help Johnson win a seat.

Housing stocks plunge! Housing is next!
A year ago, when our real estate specialist Mike Larson told a group of analysts that the housing bubble was about to bust, he practically got laughed out of the room. Nobody believed him. Or at least they didn’t want to believe him.

Connecticut Nabs 115 Home Improvement Contractors
Working as an unregistered home improvement contractor is bad business -- and hiring one is a bad decision. That's the message sent by Connecticut Consumer Protection Commissioner Edwin R. Rodriguez, announcing the results of a 10-week sting operation that caught 115 home improvement contractors who had either failed to register with the Department of Consumer Protection, or who violated other requirements of the state's Home Improvement Act.

A Model Remodel
Karen and her husband paid 40% of the cost up front (red flag number one) because the contractor said he needed money for materials. When she asked for receipts, bills and work orders for the subcontracted work, they never showed up (red flag number two). Then came calls from the concrete company demanding payment for a foundation that had been poured months earlier (big, fat red flag number three). Finally came a letter stating that the concrete firm was putting a lien on the house -- as is the right of subcontractors and suppliers who've not been paid, even if the customer has paid the general contractor for the work. "That sent me through the roof," says Karen.

NATIONAL HOME BUYERS COALITION (NHBC)
National Home Buyers Coalition (NHBC) is a nonpartisan membership organization designed to represent the needs of all residential homebuyers. NHBC is committed to offering services and facts that will empower homebuyers in the selection process in choosing quality shelter and ensuring environmental safeguards. NHBC will actively pursue legislation to ensure: habitable housing, homebuilding regulation, environmental safeguards, along with consumer protection and education.  Visit NHBC

Garlic Creek - Overview 
The Unrestrained Power of Developers in Texas - Three sick people, 15 Dead Sheep, 10 More Not Expected To Live, 2 Sick Horses, radio active strontium and chemicals in Garlic Creek could make this seem worse than any civilized war. Homeowner Website