| Industries |
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| Human Resource and Employment Services |
| Construction and Engineering |
| Construction Materials |
| Construction and Farm Machinery and Heavy Trucks |
| Homebuilding |
| Exposures |
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| Express intent |
| Economic |
| Military |
| Cooperate |
| Regime |
| Event Codes |
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| Sports contest |
| Agree |
| Warn |
| Yield to order |
| Demand |
| Human death |
| Solicit support |
| Accident |
| Host meeting |
| Yield |
| Rally support |
| Wiki | Wiki Summary |
|---|---|
| Regulation | Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. |
| Formula One regulations | The numerous Formula One regulations, made and enforced by the FIA and later the FISA, have changed dramatically since the first Formula One World Championship in 1950. This article covers the current state of F1 technical and sporting regulations, as well as the history of the technical regulations since 1950. |
| Regulation (European Union) | A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law. |
| Regulation of therapeutic goods | The regulation of therapeutic goods, defined as drugs and therapeutic devices, varies by jurisdiction. In some countries, such as the United States, they are regulated at the national level by a single agency. |
| Radio regulation | Radio regulation refers to the regulation and licensing of radio in international law, by individual governments, and by municipalities.\n\n\n== International regulation ==\nThe International Telecommunication Union (ITU) is a specialized agency of the United Nations (UN) that is responsible for issues that concern information and communication technologies. |
| Queen's Regulations | The Queen's Regulations (first published in 1731 and known as the King's Regulations when the monarch is a king) is a collection of orders and regulations in force in the Royal Navy, British Army, Royal Air Force, and Commonwealth Realm Forces (where the same person as on the British throne is also their separate head of state), forming guidance for officers of these armed services in all matters of discipline and personal conduct. Originally, a single set of regulations were published in one volume. |
| KB Home | KB Home is a homebuilding company based in the United States, founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the NYSE as a home builder and was a Fortune 500 company from 2000 through 2008. |
| Martin Kimmel | Martin S. Kimmel (April 9, 1916 – April 15, 2008) was an American real estate developer and philanthropist who co-founded Kimco Realty Corporation, the largest builder of strip malls in the United States.\n\n\n== Early life and education ==\nKimmel was born to a Jewish family in the Bronx on April 9, 1916, one of four sons of Henry and Emma Kimmel. |
| Architectural Forum | Architectural Forum was an American magazine that covered the homebuilding industry and architecture. Started in Boston, Massachusetts, in 1892 as The Brickbuilder, it absorbed the magazine Architect's world in October 1938, and ceased publication in 1974. |
| Millennials | Millennials, also known as Generation Y or Gen Y, are the demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with the generation typically being defined as people born from 1981 to 1996. Most millennials are the children of baby boomers and early Gen Xers; millennials are often the parents of Generation Alpha.Across the globe, young people have postponed marriage. |
| Global Industry Classification Standard | The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 24 industry groups, 69 industries and 158 sub-industries into which S&P has categorized all major public companies. |
| Rob Portman | Robert Jones Portman (born December 19, 1955) is an American attorney and politician serving as the junior United States senator for Ohio. A Republican, Portman has served as a U.S. representative, the 14th United States trade representative, and the 35th director of the Office of Management and Budget (OMB). |
| Yoda conditions | In programming jargon, Yoda conditions (also called Yoda notation) is a programming style where the two parts of an expression are reversed from the typical order in a conditional statement. A Yoda condition places the constant portion of the expression on the left side of the conditional statement. |
| Dirichlet conditions | In mathematics, the Dirichlet conditions are sufficient conditions for a real-valued, periodic function f to be equal to the sum of its Fourier series at each point where f is continuous. Moreover, the behavior of the Fourier series at points of discontinuity is determined as well (it is the midpoint of the values of the discontinuity). |
| Standard temperature and pressure | Standard temperature and pressure (STP) are standard sets of conditions for experimental measurements to be established to allow comparisons to be made between different sets of data. The most used standards are those of the International Union of Pure and Applied Chemistry (IUPAC) and the National Institute of Standards and Technology (NIST), although these are not universally accepted standards. |
| Conditions (album) | Conditions is the debut studio album by Australian rock band The Temper Trap, released in Australia through Liberation Music on 19 June 2009. It was later released in the United Kingdom on 10 August 2009. |
| Karush–Kuhn–Tucker conditions | In mathematical optimization, the Karush–Kuhn–Tucker (KKT) conditions, also known as the Kuhn–Tucker conditions, are first derivative tests (sometimes called first-order necessary conditions) for a solution in nonlinear programming to be optimal, provided that some regularity conditions are satisfied.\nAllowing inequality constraints, the KKT approach to nonlinear programming generalizes the method of Lagrange multipliers, which allows only equality constraints. |
| Owner-occupancy | Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. The home can be a house, such as a single-family house, an apartment, condominium, or a housing cooperative. |
| Financial crisis of 2007–2008 | The financial crisis of 2008, or Global Financial Crisis, was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). |
| Property Brothers | Property Brothers is a Canadian reality television series now produced by Scott Brothers Entertainment, and is the original show in the Property Brothers franchise. The series features twin brothers Drew Scott and Jonathan Scott.Drew is a real estate expert who scouts neglected houses and negotiates their purchases. |
| Mortgage Credit Certificate | In the United States, a Mortgage Credit Certificate (more commonly referred to as MCC) is a certificate issued by certain state or local governments that allows a taxpayer to claim a tax credit for some portion of the mortgage interest paid during a given tax year.\n\n\n== Uses ==\nThe MCC program is designed to help first-time homebuyers offset a portion of their mortgage interest on a new mortgage as a way to help homebuyers qualify for a loan. |
| Step Brothers (film) | Step Brothers is a 2008 American comedy film directed by Adam McKay, produced by Jimmy Miller and Judd Apatow, and written by Will Ferrell and McKay from a story by Ferrell, McKay, and John C. Reilly. It follows Brennan (Ferrell) and Dale (Reilly), two grown men who are forced to live together as brothers after their single parents, with whom they still live, marry each other. |
| Real Estate (Regulation and Development) Act, 2016 | The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes a Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute resolution. |
| Arithmetic | Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today. |
| Special Activities Center | The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015. |
| Operations management | Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements. |
| Operations research | Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences. |
| Emergency operations center | An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands. |
| Bitwise operation | In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor. |
| Operation (mathematics) | In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation. |
| Construction engineering | Construction engineering is a professional discipline that deals with the designing, planning, construction and management of infrastructures such as roads, tunnels, bridges, airports, railroads, facilities, buildings, dams, utilities and other projects.\nCivil engineering is a related field that deals more with the practical aspects of projects. |
| Construction grammar | Construction grammar (often abbreviated CxG) is a family of theories within the field of cognitive linguistics which posit that constructions, or learned pairings of linguistic patterns with meanings, are the fundamental building blocks of human language. Constructions include words (aardvark, avocado), morphemes (anti-, -ing), fixed expressions and idioms (by and large, jog X's memory), and abstract grammatical rules such as the passive voice (The cat was hit by a car) or the ditransitive (Mary gave Alex the ball). |
| Grammatical construction | In linguistics, a grammatical construction is any syntactic string of words ranging from sentences over phrasal structures to certain complex lexemes, such as phrasal verbs.\nGrammatical constructions form the primary unit of study in construction grammar theories. |
| PCL Construction | The PCL family of companies is a group of independent general contracting construction companies in Canada, the United States, Australia and the Caribbean. PCL has headquarters in Edmonton, Alberta, Canada, with the United States head office in Denver, Colorado. |
| Granite Construction | Granite Construction Inc. is a member of the S&P 600 Index based in Watsonville, California, and is the parent corporation of Granite Construction Company, a heavy civil general contractor and construction material producer. |
| Risk Factors |
|---|
| M I HOMES INC Item 1A Risk Factors 10 ITEM 1A RISK FACTORS Factors That May Affect Our Future Results (Cautionary Statements Under the Private Securities Litigation Reform Act of 1995): Certain information included in this report or in other materials we have filed or will file with the Securities and Exchange Commission (the “SEC”) (as well as information included in oral statements or other written statements made or to be made by us) contains or may contain forward-looking statements, including, but not limited to, statements regarding our future financial performance and financial condition |
| 10 _________________________________________________________________ Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements |
| These statements involve a number of risks and uncertainties |
| Any forward-looking statements that we make herein and in future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities and various governmental rules and regulations, as more fully discussed in this Risk Factors section |
| We undertake no obligation to publicly update any forward-looking statements or risk factors, whether as a result of new information, future events or otherwise |
| However, any further disclosures made on related subjects in our subsequent reports on Forms 10-K, 10-Q and 8-K should be consulted |
| This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995 and as required by the rules and regulations of the SEC, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section |
| The following cautionary discussion of risks, uncertainties and possible inaccurate assumptions relevant to our business includes factors we believe could cause our actual results to differ materially from expected and historical results |
| Other factors beyond those listed below, including factors unknown to us and factors known to us which we have not currently determined to be material, could also adversely affect us |
| The homebuilding industry is significantly affected by changes in national and local economic and other conditions |
| Many of these conditions are beyond our control |
| These conditions include employment levels, changing demographics, availability of financing, consumer confidence and housing demand |
| In addition, homebuilders are subject to risks related to competitive overbuilding, availability and cost of building lots, availability of materials and labor, adverse weather conditions which can cause delays in construction schedules, cost overruns, changes in governmental regulations and increases in real estate taxes and other local government fees |
| During the second half of 2004 and the first nine months of 2005, we experienced certain delays caused by weather conditions and delays in regulatory processes in certain markets that had an impact on the number of new contracts and homes delivered during 2005 |
| In addition, during 2004 and 2005, our Midwest markets were impacted by softness in the local economy which have impacted, and are expected to continue to impact, housing demand in these markets |
| As a result of these economic conditions, we are offering certain sales incentives, which will reduce our gross margins on homes delivered in these markets in 2006 |
| Our business is significantly affected by the impact of interest rates |
| Higher interest rates may decrease our potential market by making it more difficult for homebuyers to qualify for mortgages or to obtain mortgages at interest rates that are acceptable to them |
| Mortgage rates are currently close to historically low levels |
| If mortgage interest rates increase, or experience substantial volatility, our business could be adversely affected |
| Several of our growth markets, specifically our operations in Florida and North Carolina, are situated in geographical areas that are regularly impacted by severe storms, hurricanes and flooding |
| The occurrence of these or other natural disasters can cause delays in the completion of, or increase the cost of, developing one or more of our communities, and as a result could adversely impact our results of operations |
| The residential construction industry has, from time to time, experienced significant material and labor shortages in insulation, drywall, brick, cement and certain areas of carpentry and framing, as well as fluctuations in lumber prices and supplies |
| Any shortages of long duration in these areas could delay construction of homes, which could adversely affect our business |
| During 2005, we experienced material and labor shortages in our Florida markets due to the recent homebuilding growth and the hurricane rebuilding efforts impacting those markets, which has slightly lengthened the house production process; however, we do not anticipate a material effect for the year 2006 |
| Our operations require a significant amount of cash because of the length of time from when we acquire land or lots to when we complete construction of the related homes and deliver those homes to our homebuyers |
| We may be required to seek additional capital, whether from sales of equity or debt or additional bank borrowings, to fund the future growth of our business |
| The ability for us to secure the needed capital to fund our future growth at terms that are acceptable to us may be impacted by factors beyond our control |
| 11 _________________________________________________________________ Our Business is Dependent on the Availability of Land and Lots that Meet Our Land Investment Criteria |
| The continued availability of undeveloped land and developed or partially developed lots that meet our land acquisition criteria depends on a number of factors outside our control, including general land availability, competition with other homebuilders and land buyers for desirable property, inflation in land prices and regulatory requirements, such as zoning and allowable density |
| In the event that we are unable to acquire suitable land or the cost of land substantially increases, the number of homes that we can deliver or the margins on those homes may decline and adversely impact our results of operations |
| We develop the lots for a majority of our communities |
| Therefore, our short-term and long-term financial success will be dependent upon our ability to develop these communities successfully |
| Acquiring land and committing the financial and managerial resources to develop a subdivision involves significant risks |
| Before a community generates any revenue, we may make material expenditures for items such as acquiring land and constructing infrastructure (roads and utilities) |
| Competition in Our Industry Could Adversely Affect Our Business |
| The homebuilding industry is highly competitive |
| We compete in each of our local markets with numerous national, regional and local homebuilders, some of which have greater financial, marketing, land acquisition, and sales resources than we do |
| Builders of new homes compete not only for homebuyers, but also for desirable properties, financing, raw materials and skilled subcontractors |
| We also compete with the existing home resale market that provides certain attractions for homebuyers over the new home market |
| In addition, the mortgage financing industry is very competitive |
| M/I Financial competes with outside lenders for the capture of our homebuyers |
| Competition typically increases during periods in which there is a decline in the refinance activity within the industry |
| During 2004 and 2005, M/I Financial experienced a slight decline in its capture rate due to competitive pressure, which could continue in 2006 and could negatively impact the results of M/I Financial |
| The homebuilding industry is subject to increasing local, state and federal statutes, ordinances, rules and regulations concerning zoning, resource protection, building design and construction, and similar matters |
| This includes local regulations that impose restrictive zoning and density requirements in order to limit the number of homes that can eventually be built within the boundaries of a particular location |
| Such regulation also affects construction activities, including construction materials that must be used in certain aspects of building design, as well as sales activities and other dealings with homebuyers |
| We must also obtain licenses, permits and approvals from various governmental agencies for our development activities, the granting of which are beyond our control |
| Furthermore, increasingly stringent requirements may be imposed on homebuilders and developers in the future |
| Although we cannot predict the impact on us to comply with any such requirements, such requirements could result in time-consuming and expensive compliance programs |
| In addition, we have been, and in the future may be, subject to periodic delays or may be precluded from developing certain projects due to building moratoriums |
| These moratoriums generally relate to insufficient water supplies or sewage facilities, delays in utility hookups or inadequate road capacity within the specific market area or subdivision |
| These moratoriums can occur prior to, or subsequent to, commencement of our operations, without notice or recourse |
| We are also subject to a variety of local, state and federal statutes, ordinances, rules and regulations concerning the protection of health and the environment |
| The particular environmental laws that apply to any given project vary greatly according to the project site and the present and former uses of the property |
| These environmental laws may result in delays, cause us to incur substantial compliance costs (including substantial expenditures for pollution and water quality control) and prohibit or severely restrict development in certain environmentally sensitive regions |
| Although there can be no assurance that we will be successful in all cases, we have a general practice of requiring resolution of environmental issues prior to purchasing land in an effort to avoid major environmental issues in our developments |
| In addition to the laws and regulations that relate to our homebuilding operations, M/I Financial is subject to a variety of laws and regulations concerning the underwriting, servicing and sale of mortgage loans |
| We are Dependent on the Services of Certain Key Employees |
| Our future success depends, in part, on our ability to attract, train and retain skilled personnel |
| If we are unable to retain our key employees or attract, train and retain other skilled personnel in the future, it could impact our growth strategy and result in additional expenses of identifying and training new personnel |
| Competition for qualified personnel is intense in many of our markets |
| We Are Dependent on a Limited Number of Markets |
| We have operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and West Palm Beach, Florida; Charlotte and Raleigh, North Carolina; Delaware; and the Virginia and Maryland suburbs of Washington, DC Adverse general economic conditions in these markets could have a material impact on our operations |
| For the year ended December 31, 2005, approximately 33prca of our operating income was derived from operations in the Columbus market |
| In 2006, we anticipate that a significant portion of our operating income will be derived from our Florida markets |