WCI Communities files for bankruptcy Beazer nexthttp://biz.yahoo.com/rb/080804/wcicommunities_bankruptcy.html Icahn-led WCI Communities files for bankruptcyMonday August 4, 2:16 pm ETBy Helen ChernikoffNEW YORK (Reuters) - Home builder WCI Communities Inc (NYSE:WCI - News) filed for Chapter 11 bankruptcy protection after failing to obtain financing to stay afloat, chairman Carl Icahn said on Monday."The company, with all diligence, has attempted to avoid a bankruptcy filing. However, the filing became necessary," said Icahn, who owns about 15 percent of the company, or about 6 million shares.On Monday, WCI's stock plunged 48 percent to 66 cents a share, a far cry from the $22 per share that Icahn offered for the company in March 2007. Icahn bought his stake in WCI in early 2007 for about $19 per share Beazer Homes USA Inc (NYSE:BZH - News) is the builder most likely to declare bankruptcy next, Bryan said. When Beazer reports its third-quarter earnings on Friday, the company will probably reveal such significant write-downs on land that's losing value that it might trip the covenants its banks have set determining its minimum tangible net worth, she said."Beazer to me is the next weak sister," Bryan said.Beazer did not immediately respond to requests for comment on Bryan's statement.August 04 2008 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.