Hovnanian Enterprises says it is tripling its forecast for positive cash flow this year to $300 million from earlier "guidance" given to investors. The announcement came with this morning's report by the publicly traded homebuilder, based here in Red Bank,...

Cindy Burnham checks out a tax map at the foot of Maple Avenue prior to last night's council meeting. Despite protests from boaters, environmentalists and others, Red Bank officials have not ruled out a proposal to sell one of the...

Two views of the disused borough parking lot at the foot of Maple Avenue that may come up for sale this year. Click to enlarge images. Hoping to trim a proposed budget that would otherwise sock property owners with a...

Red Bank-based Hovnanian Enterprises reported its sixth consecutive quarterly loss yesterday, this time a $131 million shortfall that was double the year-prior amount. The publicly traded homebuilder, which operates in 19 states, managed to sell more units in its lastest...

An architect's rendering of The Bank, the proposed sports bar on the present site of Chubby's. A Zoning Board hearing on the proposal to raze Chubby's Waterside Café and replace it with a new sports bar and restaurant catering to...

This time three weeks ago, shares of Hovnanian Enterprises were at a seven-year low, trading below $5 apiece. Four dollars and eighty cents, actually, as of the close on Jan. 9. No doubt investors who'd bought the stock as it...

St. Nicholas Russian Orthodox Church on Pearl Street. By TOM CHESEK At 1p tomorrow, one of Red Bank's best-kept cultural secrets is scheduled to step into public view, bringing with it a millenium of tradition. A procession of worshippers and...

Ailing national homebuilding giant Hovnanian Enterprises saw its stock and debt downgraded by a major ratings agency yesterday, but investors bid the company's stock up neatly anyway. The price of a share rose 70 cents, or almost 12 percent, to...

What's the difference between racquetball and squash? For starters, says Francis Odeh, "Racquetball chases you all over the place, but in squash, you chase the ball." In racquetball, the ball is bouncier and moves faster, and you can play the...

Hovnanian's Red Bank HQ, as seen from the foot of Maple Avenue in sunnier days. Red Bank-based Hovnanian Enterprises, one of America's largest publicly traded homebuilders, got walloped again in its latest fiscal quarter. Continuing a slide that company official...

Mayor Pasquale Menna has picked an executive at Red Bank-based Hovnanian Enterprises to chair the annual KaBoom Fireworks on the Navesink committee. His pick: Peter Reinhart, a borough resident who's senior vice president and general counsel at the publicly traded...

A couple of wild stabs came in on last week's image, but none hit the mark. Alex Turoczi thought it might be part of the awning at the Two River Theater, and the Colmorgens — uncharacteristically flailing — entered a...

Mayor Pasquale Menna, a lifelong liberal Democrat, has merged his one-man legal practice into a three-lawyer partnership that includes Republican Caroline Casagrande. Yes, that Caroline Casagrande, who's running for a 12th-district Assembly seat on the same ticket as state Senate...

Slashing sticker prices and throwing in extra amenities, Hovnanian Enterprises reports that its weekend sales push on new housing units nationwide exceeded expectations. Wall Street cheered the report, boosting the battered homebuilder's stock price yesterday. From a report on Bloomberg.com:...

Today's Star-Ledger reports that Red Bank-based homebuilding giant Hovnanian Enterprises is cutting prices and offering incentives worth up to $240,000 on unsold new homes, discounts that industry experts call unprecedented. From the story, by business reporter Joe Perone: Just a...

Already struggling against a tide of falling real estate values, Red Bank-based homebuilding giant Hovnanian Enterprises is now, like others in its industry, fighting a rip current brought on by the collapse of the subprime mortgage market. The company reported...

A rumor that billionaire investor Warren Buffett was buying shares of Hovnanian Enterprises lifted the Red Bank-based homebuilder's shares 12 percent last Friday. But so far today, the shares, while up, aren't going nuts. According to BigCharts, the shares were...

From beneath layers of paint and grime, a century-and-a-half-old mansion is emerging, soon to be open to the public for the first time in a generation. OK, the 'soon' part is relative, given that the project is a couple of...

"Frustrated" by a housing market that keeps moving in the wrong direction, Red Bank-based Hovnanian Enterprises yesterday reported its third consecutive quarterly loss. As a result, Moody's Investors Services cut its ratings on Hovnanian debt issues, saying the homebuilder's cash...

Last time we checked, the overdue Red Bank Public Library renovations were expected to be completed this month or next, following weather-related delays over the winter. Last night, the borough council approved the opening of a temporary storefront two doors...