Stuart Miller, Lennar.

There are several moving and critically important passages in Lennar executive chairman Stuart Miller's Q1 2020 earnings overview from last week. If you want to read them--and you should--register for Seeking Alpha's access to public company transcripts here . Or, better yet, listen yourself to Stuart Miller's remarks by registering to hear the Lennar presentation on the firm's own website here.

For purposes of this morning's What's Important Now message to home builder, developer, investor, manufacturer, distributor, and other partner stakeholders, I want to focus on two of Stuart Miller's insights. One is this:

"Businesses across the country, like ours, are searching for playbooks and institutional memories to help guide the way forward. Those simply do not exist. There are no financial models to populate and no views around dark corners to illuminate. There is only management, hands-on management, working day-by-day and making adjustments, looking for signals and making decisions in an imperfect environment that will have to be considered and reconsidered as the landscape evolves. This time is different. Change has been sudden and unexpected and immediate, and the changing has not subsided, it continues..."

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