Pulte (PHM) CEO Says Likely Done With Cost-Cutting, Preserving Cash

I had a chance to watch Pulte's (NYSE: PHM) CEO Richard Dugas in an extensive interview on Bloomberg this morning. Although, I have been quite bearish on anything to do with housing (title companies, insurance, builders, building materials), I was a bit more comfortable with what Pulte's Dugas had to say today.

He told viewers that he believes the cost cutting is done, and he is preserving cash, which will allow Pulte to sustain itself for quite awhile.

Dugas also does not predict bankruptcy for large homebuilders, but if business gets worse, Pulte may have more writedowns.

The interviewer asked about William Pulte's recent selling of shares, to which Dugas said was more for family and friends and does not reflect the founder seeing any less value in the company.
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