Beazer Homes has been advised to fire Ian McCarthy, their chief executive, due to alleged accounting and financing errors/problems. The CTW Investment Group is strongly pushing for his removal. The group works with union pension funds and owns about 300,000 shares in Beazer Homes. They are proposing that McCarthy be removed and that an independent chairman and legal/regulatory committee be established.

Beazer Homes itself has not been doing well as of late. It has cut near to 650 jobs, which is about 25% of its work force, and is facing a high pretax charge of $230 million in the fiscal 4th quarter. Beazer Homes has also  previously reported that the former accounting officer possibly might have over inflated reserves and accrued liabilities, etc earlier on, which would account for the now high records. At this time they cannot provide a full audit report for their last quarter, which ended on Sept. 30th.