This is too friggin' funny to ignore:

Hoboken411 (don't forget to check out cartoon)

The niece of Toll Brothers’ CEO doesn’t even want their luxury condos! What does that tell ya?

Toll Daughter Won’t Pay: Robert Toll, the chief executive of Toll Brothers, the home builder, has complained that newspapers — he singled out The Times — are to blame for persuading customers to walk away from contracts to purchase homes.

On Friday, Toll Brothers filed a proxy with the Securities and Exchange Commission and in it disclosed the identity of one would-be buyer trying to welch on a contract to buy a condo from Toll. It is none other than Mr. Toll’s niece, the daughter of the company’s co-founder and vice chairman.

“Prior to fiscal 2007, the Company entered into an agreement of sale to build and sell a condominium to Wendy Topkis, Bruce E. Toll’s daughter, and her husband for a purchase price of $2,468,075. In January 2008, the buyers informed the Company that they did not intend to make settlement on the condominium. The Company intends to pursue its rights under the agreement of sale.”

Hope this doesn't happen at the Merriam Estate, right?

Wall Street Journal: Toll Brothers' No-Sale
Is Family Matter
By MICHAEL CORKERY
February 11, 2008; Page C7

Toll Brothers Inc., like the vast majority of home builders, has been struggling with potential buyers walking away from contracts as house prices plummet.

But one recent cancellation hits close to home for the high-end builder.

The daughter of the company's vice chairman and co-founder, Bruce E. Toll, and her husband are walking away from a $2.5 million condominium that the couple bought in an undisclosed location from the builder, the company said in a filing with the Securities and Exchange Commission.

Last month, Mr. Toll's daughter, Wendy Topkis, told the company she and her husband "did not intend to make settlement on the condominium," the Horsham, Pa., company said in a filing with the SEC Friday.

Mrs. Topkis declined to comment and Mr. Toll couldn't be reached.

A Toll Bros. problem strikes close to home
Among cancellations is one by a family member.
By Harold Brubaker and Reid Kanaley
Inquirer Staff Writers

Luxury home builder Toll Bros. Inc. has had hundreds of canceled orders in the last few months, but one struck especially close to home.

Bruce E. Toll's daughter, Wendy Topkis, and her husband told the company last month that they would not go through with the purchase of a $2.47 million condominium in Florida, Toll Bros. said yesterday in the proxy statement filed for its annual meeting on March 12....Toll Bros.' policy on transactions between the company and people or companies related to management requires public disclosure of deals worth more than $120,000.

In another sign of home builders' recent struggles, Toll Bros. said in the proxy that it paid Robert I. Toll, the company's chief executive officer and Bruce Toll's brother, $8.4 million in the latest fiscal year - less than half the sum he had received a year earlier.