Industry News

Magazine names power figures for home-building industry

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Alan Greenspan, chairman of the board of governors of the Federal Reserve System, was at the top of the list this year in Builder Magazine's ranking of the 50 most influential people in the home-building industry. Franklin Raines, chairman and CEO of government-sponsored lending entity Fannie Mae, was second on the list, which was released earlier this month. The magazine noted that "Raines is in a position of great influence for builders." Fannie Mae's board of directors, meanwhile, announced today that Raines is stepping down from his post. Raines said in a statement, "The SEC has determined that (accounting) mistakes were made. By my early retirement, I have held myself accountable." President George W. Bush placed third on the list: "In two polls conducted by Builder (Magazine) during the election season, roughly three out of every four builders surveyed planned to vote for (Bush). Builders largely believe that the Republican business policies of lower taxes, streamlined regulati...