“Toll Bros. Inc., the Horsham luxury-home builder, said it might face ‘significant’ losses if its joint-venture partners on a number of projects were unable to meet their financial obligations….Toll Bros. said that since it might not have a controlling interest in some of these ventures, ‘we may not be able to require these joint ventures or their participants to honor their obligations or renegotiate them in acceptable terms.’ Toll Bros. reported last month a net loss of $96 million and a 23 percent drop in revenue for the company’s first quarter ended Jan. 31. The company’s stock is down 28 percent in the last year…” Toll’s urban ventures are holding up better than their suburban McMansion business, so far.–Inquirer