Steve Scarborough Deserved a Better Exit from Standard Pacific

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Real Estate Sales Representative with Coldwell Banker Previews, Irvine, South OC

Steve Scarborough deserved a better exit that what Standard Pacific Corp. provided. He was dumped as Chairman and Chief Executive on March 20, 2008, by the homebuilder.  The news release said he retired, which is a euphemism that he was dumped after 27 loyal years serving as chairman, chief executive and president since 1996.  Steve is a good man and was a significant leader of the company.  Standard Pacific went public, became ruled by Wall Street, which forced the greed by shareholders and buyers of Mortgage Backed Securities, during the home selling ramp up from 2001 through 2005.  Steve will be paid but deserves better non-monetary recognition for his work at Standard Pacific.
Posted by Harrison K. Long, Explore Properties Group, March 21, 2008

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Anonymous
Former Employee

He wa clearly part of the problem and should have been replaced a long time ago.  We, the employees, could not figure out why steps were not being taken to ensure the long term viability of the company.  Many others in the management structure down to the division president level should follow Mr. Scarborough into "retirement"

 Mr. Scarborough's treatment of Mike Courtney's departure was dispicable.  To blame Mr. Courtney for his own failings show Scarborough's character, or lack of of it.

May 06, 2008 10:25 AM #1
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