NAHB Trims $11.5M from Budget and Eliminates 51 Positions

tWASHINGTON, DC--Jerry M. Howard, (top right photo) President and CEO of the National Association of Home Builders (NAHB), has issued the following statement on staff and operating cutbacks that will result in the savings of $11.5 million for the association in 2009:

"With our builders and other members of the housing industry confronting the most serious recession in more than 50 years, we are announcing today that NAHB is cutting $11.5 million from its operating budget to ensure that NAHB remains the premier advocacy and service trade association for the residential construction industry.

"In my 20 years at NAHB, including the past eight years as President and CEO, this is by far my toughest and most difficult decision. The staff cutbacks touch on the careers of dedicated professionals who have been committed to the mission of our industry.

"They are good, talented and hard-working people. Nevertheless, the stark financial realities confronting our association and industry cannot be ignored.

"Projected income from NAHB's two principal sources -- membership and trade shows - will be down significantly in 2009. To balance NAHB's operating budget, we will be eliminating 52 positions of which half are currently vacant.

"The layoffs will take effect immediately. In addition, we will also be sharply reducing expenditures previously approved for 2009.

"By taking this action now, we help position the association to maintain its advocacy leadership and vital services for an industry struggling in the toughest economic environment seen in generations."

CONTACT: Paul Lopez, 202 266 8409. plopez@nahb.com and http://www.nahb.org/