The Fortune 500's biggest losers

The California-based homebuilder scaled back its ambitious growth last year, selling off nearly 30,000 plots of land it had planned to develop at the beginning of 2007 to vulture investors at bargain-basement prices.

KB Home lost $665 million on the West Coast and $1.2 billion overall as the average sale price of its homes fell 9% over the course of the year. That was mitigated somewhat by the sale of its French operations, which netted the company $438 million. But KB Home isn't expected to return to profitability until 2009.

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