LGI Homes revs up home construction
After a strong second quarter — in which its net income increased 21 percent to $55.6 million from $46 million a year earlier — LGI Homes is charging full steam ahead. The company finished the second quarter with a sales backlog of 2,127 homes and has begun increasing its rate of land acquisition and construction to keep pace.
Eric Lipar, the chief executive of LGI Homes, said demand is strong from both from first-time homeowners and investors buying homes in bulk to lease out to people who want to get out of apartment complexes.
LGI Homes had around 610 closings this July, down from 760 closings in June, because of a decision to slow construction in April when the path of the housing market was unclear as the coronavirus shut down the economy.
That meant July had a lower inventory of homes to sell.
Lipar said he felt confident that the demand for single family homes was “undeniable.”
Former Anadarko execs get board seats
CenterPoint Energy, the Houston power transmission utility, named former Anadarko Petroleum CEO Al Walker and former Anadarko president Robert G. Gwin to the board of Enable Midstream Partners, an Oklahoma-based oil and gas pipeline and storage company.
CenterPoint owns 53.7 percent of Enable.
Walker and Gwin will support the continued focus of driving value from CenterPoint’s investment in Enable, CenterPoint President and CEO Dave Lesar said.
Gwin was president of Anadarko until August 2019 when the company was purchased by Occidental Petroleum. He will serve as chairman of Enable.
Walker, who was Anadarko’s CEO until last year, will serve on Enable’s compensation committee.
BBVA USA to offer online account setup
BBVA USA, in partnership with Google, will allow customers next year to open accounts without visiting a branch, allowing the bank to expand beyond its seven-state footprint.
“This collaboration with Google is fully aligned with this effort — even more so in today’s world where the ability to conduct your financial life in a digital manner, from account opening to transacting to understanding financial health, is an imperative,” said Javier Rodríguez Soler, the bank’s chief executive.
The partnership involves pairing Google Pay with BBVA’s existing infrastructure.
“Google is excited to work with BBVA USA in enabling a digital experience that is equitable for all and meets the evolving needs of a new generation of customers,” said Felix Lin, vice president of payments ecosystems at Google.