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This is Chris Redgrave for Zions Bank Speaking on Business.
At this time tomorrow Clark Ivory, president and CEO of Ivory Homes, and his talented employees will be at Disneyland. That's right. Clark is taking his staff to Disneyland in California to celebrate 25 years of being Utah's No. 1 homebuilder, even though they've been building homes longer than that.
Ivory's financial discipline was key during the economic downturn. In 2005, Ivory Homes started paying down debt, even with their best year right around the corner. Clark's instinct was that the housing market was facing a contraction, and demand would not be able to sustain supply, so he stared preparing his company long before most.
He did this by paying off debt and not selling out to speculators. When asked, he'll be the first to tell you it was his father's warning in the back of his head about what a tough business homebuilding is that helped his determination. Not to mention, he did market trips to regional areas and has held positions on business and financial boards that provided additional exposure to critical information.
By June 2009, the company was well prepared to face the crisis. This left Ivory free to innovate. At Ivory Homes, the optimistic focus is on making the home buying process as easy as possible. One new program, Ivory Financial Fitness, has helped 84 families this year and 200 families to date, repair credit and pay down debt. Business support and ideas like this are exactly what a company like Ivory can do, without debt.
The company is anticipating another major accomplishment. By spring this year, Ivory Homes will have built 15,000 homes, which will create yet another celebration for Utah's No. 1 homebuilder.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Ivory Homes 978 Woodoak Lane Salt Lake City, UT 84117 801- 747-7000 www.ivoryhomes.com
