A Brief Look at the Success Pulte Homes has Achieved

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        <p>Pulte Homes was founded in 1950. During the 1960s, the company
expanded its operations throughout the US with developments in Michigan,
Washington DC, Chicago and Atlanta. In 1969, the company purchased
American Builders, a Colorado Springs based home-builder. In the same
year, Pulte Homes made an initial offering of 200,000 shares of common
stock.</p>
<p>In 1972, the company's stock began trading on the American Stock
Exchange. To assist buyers in financing their homes, ICM Mortgage, Pulte
Homes' wholly owned mortgage banking subsidiary, was founded in the same
year. During the 1980s, Pulte Homes established its own wholesale
building products company, Builders' Supply &amp; Lumber. In 1983, the
company began trading on the New York Stock Exchange and changed its name
to PHM.</p>
<p>Pulte Homes operates in the homebuilding and financial services
businesses.The company's direct subsidiaries that are engaged in the
homebuilding business include Pulte Diversified Companies, Del Webb
Corporation (Del Webb) and others. It also has a mortgage banking
company, Pulte Mortgage (a subsidiary of Pulte Home Corporation). Pulte
Homes operates in the US. Pulte Homes operates in two businesses:
homebuilding and financial services. The company's revenues are
categorized into seven reportable segments: Northeast, Southeast, Gulf
Coast, Midwest, Southwest, West and financial services.</p>
<p>Homebuilding, the company's core business, is engaged in the
acquisition and development of land primarily for residential purposes
within continental US and the construction of housing on such land
targeted for first-time, first and second move-up, and active adult home
buyers. The reportable homebuilding segments are as follows: Northeast
which includes Connecticut, Delaware, Maryland, Massachusetts, New
Jersey, New York, Pennsylvania, Rhode Island, Virginia; Southeast
includes Georgia, North Carolina, South Carolina, Tennessee; Gulf Coast
includes Florida and Texas; Midwest includes Colorado, Illinois, Indiana,
Missouri, Michigan, Minnesota, Ohio; Southwest includes Arizona, Nevada
and New Mexico; and West area includes California, Oregon,
Washington.</p>
<p>In February 2009, Pulte Homes received recognition from the US
Department of Energy (DOE) and BASF for building the highest number of
homes to qualify under the Builders Challenge in 2008. In August 2009,
Pulte Homes finalized its merger agreement with Centex Corporation.</p>
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