Ian J. McCarthy is the President and Chief Executive Officer of Beazer Homes USA and has served as a director of Beazer since the initial public offering of common stock in March 1994. Mr. McCarthy has served as President of predecessors of Beazer since January 1991 and was responsible for all United States residential homebuilding operations in that capacity. During the period May 1981 to January 1991, Mr. McCarthy was employed in Hong Kong and Thailand becoming a director of Beazer Far East and from January 1980 to May 1981 was employed by Kier, Ltd., a company engaged in the United Kingdom construction industry which became an indirect, wholly-owned subsidiary of Beazer PLC. Mr. McCarthy is a Chartered Civil Engineer with a Bachelor of Science degree from The City University, London. Mr. McCarthy currently serves as Chairman of HomeAid's National Advisory Board, a Member of the Metro Atlanta Chamber Board of Directors, and as a Trustee for the Woodruff Arts Center, Atlanta, GA.[Beazer Homes]
Homebuilders had plenty to do with the collapse of the housing market, not just by building more homes than the country could stomach, but also by pressuring people who couldn't really afford them to buy in. As CEO of Beazer Homes since 1994, McCarthy has become something of a poster child for the worst builder behaviors. An investigative series that ran in the Charlotte Observer in 2007 highlighted Beazer's aggressive sales tactics, including lying about borrowers' qualifications to help them get loans. The FBI, Department of Housing and Urban Development and IRS are all investigating Beazer. The company has admitted that employees of its mortgage unit violated regulations — like down-payment-assistance rules —at least as far back as 2000. It is cooperating with federal investigators. [TIME]
We have a special contempt in our heart for this slime ball. Just look around your town — ours happens to be Atlanta — and, take note of all the partially-developed, mostly empty housing developments and machine-leveled tracks of vacant land now studded with forests of blue pvc pipes. Beazer Homes (and every sleazy developer in the country) should be forced to dismantle, brick by brick, the criminally overpriced "luxury" housing developments they pulled out of without completing and restore the land they devastated.