My selection of industri news

ARMEP Corp., main developer of New Mexico economic hub Rio Rancho, has recently reported yet more financial losses. For the company’s third fiscal quarter it reported a loss of 2 cents per share or a total of $100,000. Last year, the company earned 57 cents per share or a total of $3.5million. The developer’s total revenues also slumped by a whopping 18 percent from one year ago to $36 million.
Homebuilders in Rio Rancho have stopped construction on lots previously acquired from ARMEP ever since the decline of the housing market. Some purchases of developed lots were also either cancelled or delayed. This behaviour among investors is not only happening in the Rio Rancho region and has become a national situation as the market continues to struggle.