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Life-Saving Effort, Call to Celebrate Manufactured Housing’s Professional Installers

June 20th, 2019 Comments off
LifeSavingEffortCallCelebrateManufacturedHousingsProfessionalInstallersDailyBusinessNewsMHProNews

Still from video posted at the linked report further below.

There is not nearly enough attention paid in the manufactured housing industry’s trade media to those who ‘do the doing.’

 

Thus, whenever a story arises that gives us a chance to spotlight their important – indeed, vital – role in manufactured housing, the Daily Business News on MHProNews likes to share it.

There is also too little appreciation among the public at large as to just how heavy even a modest-sized manufactured home is.

Yesterday, on MHLivingNews, an article with a mainstream news video was posted that elevates such topics and the professionals noted.

That story is found at the linked below.  It features a literal life-saving effort that merits praise.

 

 

That’s today’s pre-dawn edition of “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, commentary.)

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

June 19th, 2019 Comments off

 

MHCommunityRobertVanCleefPublicCallFederalInvestigationsBerkshireHathawayClaytonHomes21stMortgageManufacturedHousinginstituteMHProNews

In a news tip today to the Daily Business News on MHProNews is the following public call by Californian Robert ‘Bob’ Van Cleef for federal investigations of some high profile organizations in the manufactured home industry.

 

From Van Cleef’s post today, found at this link here, is the following.  The post is styled “Requesting an Antitrust Investigation.” He cites and links several sources, including his representative, DoJ, HUD Secretary Ben Carson, John Oliver’s viral video, the Manufactured Housing Association for Regulatory Reform, and Manufactured Home Living News, among others.  The hot-links are in the original.

 

Requesting an Antitrust Investigation

Posted on June 19, 2019 by Bob

This is a follow up related to John Oliver’s report on living in Manufactured Home Parks. In his report, he exposed the illegal and immoral actions, potentially violating Antitrust and RICO laws, by various companies.

     See:  HBO’s John Oliver on Last Week Tonight Mobile Homes Video

One of the major threads of his report relates to the actions of Berkshire Hathaway, Clayton Homes, 21st Mortgage and the Manufactured Housing Institute. He shows them working in collusion to violate the law.  He also shows the harm that they are bringing to the people that live in the manufactured home parks they manage.   This includes many who are seniors, disabled and living on fixed incomes.

Request to Congress

Based on my research, after viewing that report, I sent an email to a staff member for Congressman Ame Bera, who represents the district I now live in, requesting the following actions. 

First, I asked that the Congressman write a letter to Makan Delrahim, the Assistant Attorney General responsible for overseeing the Antitrust Division.  The focus of his letter should be to ask the Antitrust Division to review the actions of Berkshire Hathaway, Clayton Homes, 21st Mortgage and the Manufactured Housing Institute for possible Antitrust and RICO violations.

The second request would be to have him contact HUD Secretary Carson to have his agency enforce the existing federal laws with respect to Federal Preemption and Affirmatively Furthering Fair Housing (AFFH).

Finally, it would not hurt to supply for our Democratic Representative to reach out in a bi-partisan manner to support Secretary Carson’s efforts to treat Manufactured Homes as an asset in today’s housing crisis.

See:  HUD Secretary Ben Carson’s Speech on Manufactured Homes, “Manufactured Housing…Active Ingredient…Medication…for a Stronger America.

Affordable Housing

Mary and I couldn’t afford to live in San Jose anymore.  (We were economically evicted.)  However, after selling our heavily mortgaged home in San Jose, we purchased outright a manufactured home in Rancho Cordova.  I was amazed at the improvement of our quality of life!  The home was bigger and nicer than the one we left in San Jose.  Also, we found the new neighborhood to be open and welcoming, and best of all, it was affordable!

Everyone is talking about affordable housing.  Based on my experience and as described by Secretary Ben Carson, manufactured homes could be a valuable tool for reversing our current housing shortage. 

Why can’t more people take advantage of manufactured homes to get out of their housing trap?

That will be the basis for future posts.

##

 

Per sources and his post suggests, Van Cleef has become a leader in his land-lease community among residents there. He’s actively engaging public officials and others in an effort to find solutions to the types of troubling issues his post referenced.

MHProNews will plan to monitor his posts, as we do others that are engaged on issues relating to manufactured home professionals and consumers.

 

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

That’s tonight’s final installment of “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, commentary.)

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

 

Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Manufactured Home Communities’ Dodd-Frank Moment Looms, Senator Elizabeth Warren Takes Aim at Several Manufactured Housing Institute Community Members

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

Washington Leak – Justice Department Prepares Major Antitrust Investigation

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates

Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Democrats React to Former VP, ‘They’ll Eat Joe Biden Alive,’ Plus Manufactured Housing Market Updates

June 19th, 2019 Comments off

CNNmone6.19.2019ManufacturedHomeStocksMarketsReportsMHProNewsLet’s be highly objective. It happened to Republicans in a crowded field they had for president in 2015-2016.  It may be warming up now for Democrats in 2019, looking ahead to 2020.  Former Vice President Joe Biden made a comment that caused two of his Democratic rivals for the Oval Office to pounce.  Others have been more subtly cutting away at Biden, who has held a lead in public polling since his announcement. On a day when the VIX dropped mildly, and several major markets rose, but a more mixed day manufactured home tracked stocks, we’ll look at a flap that could foreshadow what will happen next week at the Democratic presidential hopefuls’ debates, and beyond that venue, on the campaign trail.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

LeftRightMediaDivideGraphicDailyBusinessNewsMHProNewsCNNFoxNewsCNBCYahoo

CNN Business

  • The Fed holds steady
  • Interest rates remain unchanged, but the Fed signaled potential rate cuts as pressure mounts
  • LIVE UPDATES Powell says the Fed doesn’t target the US dollar exchange rate
  • ‘We’re not looking at just one thing,’ says Powell when pressed on trade
  • Stocks finish higher as the Fed signals possible rate cuts
  • OPINION Congress should eliminate the debt limit
  • What you need to know about Slack’s upcoming non-IPO
  • Blackstone CEO says the trade war won’t cause a US recession in 2020
  • US Steel is idling plants, despite tariffs designed to save them
  • Colgate’s new recyclable toothpaste tube is nearly ready. It took 5 years to develop
  • The Guardian says it was warned of cyber attacks by Saudi Arabia
  • ‘Pose’ director Janet Mock makes history with a multi-year Netflix deal
  • Panera is testing out a dinner menu
  • Five female anchors file age and gender discrimination lawsuit against NY1, a prominent New York station
  • Unconventional job interview questions that actually work
  • Harley-Davidson will make small motorcycles with Chinese partner
  • Bird scooters got kicked out of San Francisco but found a loophole back in
  • Lyft returns e-bikes to streets for first time since crashes
  • Your first ride on an e-scooter will be the most dangerous
  • In some new cars and e-scooters, it isn’t up to you how fast you drive
  • Hershey’s is giving its best candy bar a makeover
  • Toblerone and Cadbury will be made with sustainable cocoa
  • Why Wendy’s brought back 50¢ Frosties
  • Halo Top goes beyond ‘volume eating’ with ice cream bars
  • Hershey’s is changing the look of its candy bar for the first time in history

Fox Business

  • Fed leaves interest rates unchanged, signals no cuts in 2019
  • Can Trump legally fire Jerome Powell as Federal Reserve chairman?
  • Powell dismisses Trump threat, says he ‘fully intends’ to complete four-year term
  • Americans spend the most on food in these 10 cities
  • Harley-Davidson partners with Chinese manufacturer to build ‘smaller, more accessible’ motorcycles
  • Facebook’s Mark Zuckerberg falls in Glassdoor’s list of top CEOs based on employee feedback
  • The biggest reason why NFL players don’t connect with fans
  • Income needed to afford a mortgage in 35 major US cities
  • Gundlach: Bond market has been saying Fed policy is too tight
  • Best Buy to repair Apple products at all US stores
  • YouTube faces FTC investigation into children’s videos, citing privacy concerns: Report
  • World Series champ Keith Hernandez ‘barely’ gets away with being a Trump fan in New York
  • Miami officials pondering cashless Super Bowl LIV at Hard Rock Stadium: report
  • Captain Sully: Boeing Max pilots need ‘muscle memory’ before flying
  • Danny Glover, Ta-Nehisi Coates testify on slavery reparations at House hearing
  • Costco sells giant, 2-pound doughnuts — but only in this region
  • Former Hollywood exec Ryan Kavanaugh eyes China for film production
  • MGA CEO drops Mattel merger pursuit: The toymaker ‘cannot be salvaged’
  • Varney: When it comes to money, America makes it rain
  • Iran, China trade and Fed watch: ‘Will they or won’t they’ cut?
  • Drowning in debt vs. government shutdown: Which would you prefer?

Today’s markets and stocks snapshot, at the closing bell…

9MarketIndicatorsYahooFinance6.19.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s MH Market Spotlight Report –

DemocratsReactFormerVPTheyllEatJoeBidenAlivePlusManufacturedHousingStockUpdatesDailyBusinessNewsMHProNews

Per left-of-center CNBC today:

·        Democratic presidential candidates attack presidential front-runner Joe Biden a day after the former vice president said that his ability to work with a white supremacist senator in the 1970s was an example of the type of “civility” in Congress that has since disappeared.

·        New York Mayor Bill de Blasio and Sen. Cory Booker, D-N.J., both denounce Biden by name in a break with the practice most Democrats have followed on the trail thus far. De Blasio, whose wife is black, and Booker, who is black, frame their criticism in personal terms.

·        “Eastland thought my multiracial family should be illegal & that whites were entitled to ‘the pursuit of dead n——,’ de Blasio writes.

·        Booker writes in a statement that “frankly, I’m disappointed that he hasn’t issued an immediate apology for the pain his words are dredging up for many Americans. He should.”

Former Vice President Joe Biden has been dubbed as “Sleepy Joe” by President Donald J. Trump, and has been slammed by numerous Democrats, including Representative Alexandria Ocasio-Cortez (AOC).

But Biden came under more serious scrutiny for remarks about the late lawmakers James Eastland of Mississippi and Herman Talmadge of Georgia delivered at the Carlyle Hotel in New York City on Tuesday evening. Biden said that Eastland “never called me boy” and was able to work with Talmadge despite disagreements.

 

JamesEastlandFormerUSSenatorJoeBidenKKKDailyBusinessNewsManufacturedHousingMHProNews

 

De Blasio wrote that “Eastland thought my multiracial family should be illegal & that whites were entitled to ‘the pursuit of dead n——’.” The New York City mayor included a photo of him with his wife, Chirlane McCray, and their multiracial children.  It will take something significant to give De Blasio traction in a crowded field. 

 

HermanTalmadgeDemocraticSenatorJoeBidenKKKTiesDailyBusinessNewsMHProNews

 

These two Democratic lawmakers provided an opportunity for any opponent to ‘flip the script’ on Biden, who could become a drag on a party that wants to shake it’s often sadly racist heritage.

There are several in and out of the Democratic ranks who think that his own party will ‘eat Joe Biden alive,’ because he is so gaff prone.  Time will tell.

The 2020 race is well underway, and there will be more known in the run up and aftermath of the first Democratic presidential hopefuls’ debates. So far, there are reasons to think that in the next few weeks, Elizabeth Warren may be the one that continues to rise, and challenge Biden and Senator Bernie Sanders. We’ll report, so stay tuned.

Related Reports:

Democrats, Independents, Elephant in the Room, Third Parties, 2020 Kickoff, and Manufactured Housing

Rising Star – U.S. Senator Tina Smith Pressing Manufactured Housing Regulatory, Legislative Issues

Democrats? Republicans? Political Campaigns Manufactured Housing Institute (MHI) PAC Supported

It’s Your Money, Your Future – 2020 Democratic Presidential Debate Line Up, Plus Manufactured Home Stock Updates

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

CampaignForAccountabilityNearMonopolyRacismSteeringPredatoryLendingClaytonHomesVanderbilt21stBerkshireHathawayWarrenBuffettLogosManufacturedHousingMHProNews

 

Yahoo Finance Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

YahooManufacturedHousingIndustryConnectedStocks6192019DailyBusinessNewsMHProNews

Updated:

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Rising Star – U.S. Senator Tina Smith Pressing Manufactured Housing Regulatory, Legislative Issues

June 19th, 2019 Comments off

 

RisingStarUSSenatorTinaSmithPressingManufacturedHousingRegulatoryLegislativeIssuesDailyBusinessNewsMHProNews

BuzzFeed News are among those in media that has described the freshmen U.S. Senator as a ‘rising star’ in her party.

 

That makes it all the more surprising that only the Daily Business News on MHProNews is essentially the only industry-focused trade media that has reported on the broader scope of issues that Senator Tina Smith (MN-D) has been involved with that directly relate to the manufactured housing industry.

Keep in mind that Smith’s state is one that has a bipartisan panel of legislators that have both agreed that manufactured homes are an important part of the solution to the affordable housing crisis.

 

 

There are good reasons to believe that Smith is serious about the broader use of manufactured homes, which is part of the aim of S. 1804, dubbed the HUD Manufactured Housing Modernization Act of 2019.” That said, as this MHProNews report and analysis will reflect, good intentions aside, there are warning flags that must be considered in the legislation she is supporting.

 

Senator Tina Smith, Manufactured Housing Regulations, Increased Use

As a reminder, or ICYMI, Smith was one of the Democratic Senate lawmakers who signed onto a letter to the Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger. That letter fingered Warren Buffett, Berkshire Hathaway, Clayton Homes and related lending, notably 21st Mortgage Corp and Vanderbilt Mortgage and Finance.  That report and the related letter from lawmakers is found in the linked text-image box below. As our report linked below reflects, that’s an important step. But why not ask DoJ to investigate Berkshire, Clayton, et al for allegations of market rigging?

 

Senate Democrats – Including 2020 Presidential Contenders – Ask CFPB Protect Consumers Against Predatory Lenders — Point Finger at Clayton Homes, Berkshire Hathaway Lending

 

Also, Senator Smith and other lawmakers is involved in efforts that they believe will promote manufactured homes. At this point in time, while acknowledging the potential for positive outcomes, in its current form, MHProNews is not on board with this legislation for a variety of reasons. 

That said, what follows is the full press release from Smith’s office. It includes two letters to the FHFA and other lawmakers as downloads.  All of those are important to be aware of, because Prosperity Now and the Manufactured Housing Institute (MHI) are reportedly ‘in agreement’ on the changes made to this pending legislation. By contrast, the Manufactured Housing Association for Regulatory Reform (MHARR) per our sources, is not yet on board with this bill.

These elements will all be spotlighted in upcoming MHProNews reports, fact-checks, and analysis. With that tee up, here is the release from Senator Smith’s office.

 

USSenatorTinaSmithMN-D-DailyBusinessNewsMHProNews

U.S. Senators Smith, Cortez Masto, Scott, Cramer, Young Introduce Bipartisan Bill to
Promote Manufactured Housing as Part of Solution to Affordable Housing Crisis

Senators’ HUD Manufactured Housing Modernization Act Would Ensure HUD Supports State and Local Governments
Wishing to Include Manufactured Housing as Affordable Solution When Applying for Federal Resources

WASHINGTON, D.C. [06/12/2019]—Today, U.S. Senators Tina Smith, (D-Minn.), Catherine Cortez Masto (D-Nev.), Tim Scott (R-S.C.), Kevin Cramer (R-N.D.), and Todd Young (R-Ind.) introduced bipartisan legislation promoting manufactured housing as part of the solution to America’s affordable housing crisis.

The HUD Manufactured Housing Modernization Act of 2019 would require the Department of Housing and Urban Development (HUD) to issue guidelines for including manufactured housing in state and local governments’ Consolidated Plans, which outline their housing and community development priorities, when applying for HUD funding. This legislation will ensure that manufactured housing, a significant source of affordable housing, is considered when jurisdictions develop their housing plans.

“We need to support the affordable housing market and increase housing availability in urban, rural and tribal areas,” said Sen. Smith, a member of both the Senate Banking and Indian Affairs Committees. “Manufactured housing is a critical source of affordable housing all over Minnesota, and our bipartisan bill would make sure that more communities across the country think of manufactured housing as a possible solution to their housing needs.”

“We’re in the midst of an affordable housing crisis in Nevada, and in communities throughout America. Home prices are rising fast, and Americans are spending a greater share of their paychecks to keep a roof over their heads. It’s unacceptable, and we must take immediate action,” said Senator Cortez Masto. “This bipartisan legislation recognizes that manufactured housing can be part of the solution.”

“Manufactured housing is an affordable housing option for over 22 million Americans, including one out of every five families in South Carolina,” said Senator Scott. “Ensuring that we keep this important option open to families puts them in a safer position and a path to affordable home ownership.”

“Nearly 25,000 North Dakota families live in manufactured houses, built for a fraction of the cost of a single-family site-built home. The HUD Manufactured Housing Modernization Act makes it clear that communities should consider if and how manufactured housing could fit into their affordable housing plans,” said Senator Cramer.

“Solving the housing affordability crisis for Hoosiers of all income levels is going to require bold and innovative changes to our nation’s housing policies,” said Senator Young. “With over 2.5 million Hoosiers already living in manufactured homes — and with Hoosier workers leading the way in construction of manufactured housing — I know it’s time to put greater emphasis on manufactured housing as a housing affordability solution.” 

Manufactured housing is a significant source of un-subsidized affordable housing, with nearly 22 million Americans living in manufactured housing. Manufactured homes also cost as little as $45,000, while a new single-family site-built home can cost $323,000. The quality of manufactured homes has improved dramatically in recent years; manufactured homes can also be more energy efficient and save families costs on utilities in the long-term.

This bill is supported by Prosperity Now, National Low Income Housing Coalition, Manufactured Housing Institute, and the National Association of Manufactured Housing Community Owners.

As Congress considers reforms to the nation’s housing finance system, last week Sen. Smith outlined her top priorities. In a letter to the nation’s top housing finance agency and leaders of the Senate Banking Committee—on which she serves—Sen. Smith pressed the officials to make sure any changes to the housing finance system support the affordable housing market and housing availability in rural areas, including on tribal lands. Following the Senate Banking Committee’s hearings on the housing finance system earlier this year and ongoing discussions about housing finance reform, Sen. Smith is fighting to preserve meaningful gains made in the housing finance system, especially those that support the housing market in low-income, rural, and Native areas. In her letters to leaders of the Senate Banking Committee and Federal Housing Finance Agency Director Mark Calabria, Sen. Smith highlighted the importance of the federal requirement to serve underserved rural areas and low-income communities, and other initiatives currently in place that aim to alleviate the affordable housing crisis.

 

###

 

A prior ‘deeper dive’ report on MHI and their related surrogate’s posturing on this issue is linked below.

 

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

It’s laudatory that this legislation has bipartisan backing, which is practically necessary in a divided federal government.  However, this bill ought to beg several questions.

·        Why isn’t a robust application of HUD’s authority under the Manufactured Housing Improvement Act (MHIA) of 2000’s Enhanced Preemption provision being demanded by these lawmakers?

·        Why aren’t lawmakers demanding the FHFA to fully and properly implement the Duty to Serve provisions of the Housing and Economic Recovery Act (HERA) of 2008, as it relates to manufactured home lending?

The intent behind this bill, and its House counterpart, seems to be authentically pro-industry and pro-consumer. That said, as the MHIA and DTS reveal, passing a bill doesn’t mean that it will be properly implemented. Furthermore, as Dodd-Frank revealed, good intention doesn’t always end up with the desired outcome.

In order to properly frame such a bill, Congressional lawmakers should hold hearings on:

·        Duty to Serve (DTS), and its lack of properly implementation in 11 years.

·        The MHIA 2000, with a specific focus on why Enhanced Preemption has not been fully implemented.

·        Clayton Homes and MHI, to see if they are involved in collusion to rig the marketplace in a fashion that leads to increasing consolidation of the industry’s independents.

Clayton, their related lenders – as the report linked further above and here reflects – and MHI are clearly on the radar of several Democratic lawmakers.  Rightly so. More GOP lawmakers need to scrutinize these issues. So too should more federal agencies.

As independents who are pro-industry and pro-consumer, we believe that rushing this bill in its current form could lead to several future problems. The goal may be positive, but the industry’s independents, homeowners, and renters who could be potential homeowners have been battered too many times by good intentions that remained practically unfulfilled.

LATonyKovachGoodBipartisanshipShouldalwaysBepredicatedBenefitallhonestindustrymembersnotslectfewquote

The comment above was said with respect to another recent topic, but relates to this issue too.

So stay tuned to the manufactured home industry’s #1 most read, most trusted independent resource.  It’s all here at the home of “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, commentary.)

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

 

1) Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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Related Reports:

You can click on the image/text boxes to learn more about that topic.

Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

 

Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Manufactured Home Communities’ Dodd-Frank Moment Looms, Senator Elizabeth Warren Takes Aim at Several Manufactured Housing Institute Community Members

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

Washington Leak – Justice Department Prepares Major Antitrust Investigation

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates

Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

EQUITY ALERT: Levi & Korsinsky – Investigation Possible Fraud by Certain Officers and Directors of Cavco Industries, plus MH Stock Updates

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Democrats, Independents, Elephant in the Room, Third Parties, 2020 Kickoff, and Manufactured Housing

June 19th, 2019 Comments off
DemocratsIndependentsElephantInRoomThirdParties2020KickoffManufacturedHousingMHProNews

Still from video, posted further below.

Love him.

 

Hate him.

The unsure and uncertain.

Whatever your view of the president, there is one thing that is certain.  A single tweet from 1600 Pennsylvania Avenue – or wherever the 45th president happens to be – can change the course of the top news story for the day.

Democratic front-runner Joe Biden, per a mainstream media source, said the president’s name some 86 times in a recent public appearance. As the head of the Republican Party, whose symbol is the elephant, the headline is an apt reference to President of the United States (POTUS) Donald J. Trump.

The Democrats will have their first debates on June 26 and 27 in Miami, per CNN.

While there are rumblings of a challenge of President Trump among Republicans, there is nothing serious at this time. Last night, in a packed Amway Center arena in Orlando, FL, POTUS Trump formally launched his reelection bid.

President Trump’s campaign slogan this time? “Keep America Great.”

 

“A Rigged System…”

There are several things in the United States that fits President Trump and Senator Bernie Sanders’ description of a ‘rigged system.’

Senator Sanders, VT-I, who is running as a self-styled Democratic Socialist for the Democratic Party nomination for president got the short end of the stick in 2016 in his race against Secretary Hillary Clinton. Former DNC Chair Donna Brazile, who has become a Fox News contributor, stressed several times during her book tour for Hacks that she found clear evidence that the Democratic Party and tilted the scales against Sanders.

The United States is a republic with democratic elements to the system. But for decades, there has been what Senator Rand Paul (KY-R) has called an “unholy alliance” between the two major parties. In dozens of states, ‘ballot access’ is not an easy process. That’s no accident. That’s designed to create a duopoly between Democrats and Republicans.

As political independents, we are believers that ballot access should be far more easy for third parties to achieve. At present, while it is up in the air if billionaire Howard Schultz, of Starbucks fame, will in fact follow through with his threat for a serious independent campaign for the presidency, it is worth mentioning that the last serious such effort was by another billionaire, Ross Perot.

Monopolization takes on many forms, and political monopolization is one of them.  While it is not technically a monopoly, duopoly and oligopoly are variations on the theme. As the definitions below reflect, collusion between such parties can create thinly veiled forms of control over large numbers of people.

There are certainly distinctions between Democrats and Republicans, so MHProNews does not fall into the camp that claims that there isn’t a dime’s worth of difference between the two major parties.  Of course, there are differences.

But the uber rich, their corporations, their nonprofits, and political action committees (PACs) can provide funding to candidates on both sides of an issue in a variety of ways that masks what is occurring to all but a few who pay close attention to the details.

 

DuopolyOligopyMonopolyWikiDefinitionManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

Warren Buffett, the Manufactured Housing Institute, and Politics

Warren Buffett is the well-known chairman of Berkshire Hathaway. He’s routinely cited as the third richest man on earth.  He is buddies with the other uber-wealthy, such as mega-billionaires Jeff Bezos or Bill Gates. With Bezos, Buffett’s Berkshire now has clear ties through roughly a billion dollars’ worth of stock in Bezos-led Amazon. With Microsoft founder Gates, Buffett has long had ties too.  Among them are Buffett’s contributions in billions of dollars’ worth of Berkshire stock to the Bill and Melinda Gates Foundation, of which the Gates foundation website says Buffett is a trustee.

Bezos, Gates and Buffett are among those billionaires who routinely support Democrats. That is, within the norms of the law and morality, their right, just as some give to Republicans or others.

But there is clear and compelling evidence – publicly undisputed at this time by those in question – that the Manufactured Housing Institute (MHI) is dominated by a few power players.  Chief among those are Berkshire subsidiaries, including Clayton Homes, 21st Mortgage Corporation, Vanderbilt Mortgage and Finance, and a range of other firms, including Shaw, various brokerage firms and companies like Wells Fargo that isn’t owned by Berkshire, yet Berkshire routinely has nearly the legal limit in Wells Fargo stock holdings.

There are several paths that money – including for political campaigns – can easily flow through with relative difficult to detect.

By de facto controlling MHI, the Berkshire brands have effective control over their MHI PAC. There are prominent Democrats, such as former MHI Nathan Smith of SSK Communities, who are involved in the MHI PAC. Smith chairs the MHI PAC on this date, per the MHI website.

 

MHIPacManufacturedHousingInstitutePAC6192019DailyBusinessNewsMHProNews

 

Our recent exclusive and data-driven report linked below reflects that the MHI PAC tends to donate more to Republicans than Democrats, but give to both. That means, they are buying influence with politicians in both major parties, who in turn tend to do what they want.

 

Democrats? Republicans? Political Campaigns Manufactured Housing Institute (MHI) PAC Supported

 

That must be kept in mind when issues such as the failed Preserving Access to Manufactured Housing Act come up for votes. For years, there was Buffett backing President Obama and candidate Hillary Clinton, which pledged to pass and protect from change the Dodd-Frank legislation. Meanwhile, the MHI PAC and MHI itself were lobbying to ‘pass’ Preserving Access. But Buffett’s and Berkshire’s fingerprints are also on organizations such as Prosperity Now.

Prosperity Now, Nonprofits Sustain John Oliver’s “Mobile Homes” Video in Their Reports

Rephrased, Buffett and his money are on both sides of key issues to the industry.  The reports linked above and below outline how this can veil artificial headwinds used by Berkshire as ‘sharks in the water’ in their ‘strategic moat.

This is how monopolistic style power over the marketplace is forged.

President Trump, and presidential hopefuls like Democratic Senator Elizabeth Warren, can claim that they are to a degree immune from being ‘bought and paid for’ by major donors.

But there are so many nuanced ways that money and influence flow that it is not easy to affirm such assertions with certainty. Should Warren become her party’s nominee, for example, at that point she is certainly going to be subject to all the influence groups that exert power over the Democratic National Committee (DNC).

 

We Provide, You Decide

MHProNews led the way in prior election cycles in providing political coverage and analysis in manufactured housing.  Few things have more influence over business than politics does, because the laws are made and enforced by politicos and their allies.

We will provide fair and balanced coverage of President Trump’s reelection effort, as well as coverage of serious independents and of the Democratic field too.

The President’s kick off rally last night was carried by a CSPAN channel, but there was a glitch during part of their broadcast.  So, both the Fox News and the CBS versions of the president’s kickoff rally are posted below.

 

 

Note that Major Garrett, with CBS News shared some fascinating insights from Brad Parscale, who heads up the Trump 2020 campaign effort.  It is worth watching, as it goes into the issue of public polling and its accuracy. The Fox News video below includes Vice President Mike Pence, who introduced President Trump and First Lady of the United States (FLOTUS) Melania Trump, who also briefly addressed the packed Amway Center.

 

 

The past roughly 2½ years has revealed that America can attract back capital that fled overseas.  Jobs once thought lost, can be recovered. This is a matter of policy and law.

  • Complex and higher taxes,
  • complex regulations,
  • access to capital and credit,
  • meaningful access to the political system,
  • media access and influence

are all arguably tilted in the favor of larger companies and conglomerates. As a pro-manufactured housing industry publisher that is also pro-consumer, we believe there is a clear trail of evidence that Berkshire brands, working at times in concert with a relatively small group of other major players, has de facto rigged the system in manufactured housing.

The result of that is an industry has fewer shipments today than the year that Buffett led Berkshire entered the industry in 2003. At the same time, the market share of Clayton Homes has grown dramatically.  Are these coincidences?

Or is it a coincidence that Berkshire’s strong influence over manufactured home lending has arguably been exerted to redirect the efforts of the GSEs away from the majority of manufactured homes, as the law intended, to only a small select number of a ‘new class’ of far more costly manufactured homes that was and is supported by Clayton Homes and MHI?

These are matters that merit congressional and other investigations. Indeed, Clayton is being investigated by several federal agencies, some of which is covered in the mainstream news video below.

 

 

Here on MHProNews, our slogan has long been, “We Provide, You Decide.” © We share the evidence, the money trail, and the facts in a way that others can follow, step-by-step.  That makes your ability to plan – especially as an independent business or investor – that much easier.

 

DearTonySoheylaNoGreaterResourceSpeakstoIssuesOpportunitiesWeFaceAsIndependentRetailersGusRodriguezTejasHomesTX

Gus’ message came in response to a series of exposes on issues within manufactured housing, as well as tips, strategies and opportunities.

 

But it isn’t easy.

For years, we’ve been peeling the onion of an arguably rigged system in manufactured housing back, one layer at a time.  We’ve given Clayton, 21st, MHI and their outside attorney a chance to respond to such concerns and allegations.  Up until 2¼ years ago, they routinely responded readily and promptly.  But since that time, they’ve been largely mute. It was during that last 2+ years that MHProNews got closer to the various methods and ways that the system has been rigged in favor of certain major players.  Is it a coincidence that they’ve taken the 5th as we revealed more information?

Nor should the published scandals surrounding the various most recent MHI Executive Committee leaders be ignored.

 

ManufacturedHousingInstituteLogoMHIBoardOfDirectorsLogoMHIExecutiveCommittee

Satirical MHI logo provided under fair use guidelines.

 

Our reports, fact-checks and analysis has perhaps resulted in a loss of ad revenues from MHI, Clayton, 21st and others that used to financially support this website. That is what it is, but it also meaningfully demonstrates that we are not swayed in our reports and analysis by advertising.

It is ‘fearless’ coverage that is based upon evidence, not mere opinion, that has made and kept us the runaway #1 trade media in all of manufactured housing. Buckle up, because there is more to come.

Whatever your views on the 45th president, the fact remains that he attracted enough Obama-Biden era voters to his cause in 2016 to crack the ‘blue wall,’ winning Wisconsin, Michigan, and Pennsylvania. Battleground states of Ohio, North Carolina, and Florida went for candidate Trump too.

While their styles are obviously different, the Democrat turned Republican Ronald Reagan, and the Democrat turned Republican Donald J. Trump have both tapped into blue collar appeal. With a field of Democratic candidates that hovers around 2 dozen candidates, the possibility for some third-party candidacies, this promises to be a memorable electoral season.

Using mainstream polls, but adjusting for their ‘internals,’ MHProNews in 2016 predicted the upset win of Donald J. Trump as well as the GOP victories in the House and Senate.  Meanwhile, MHI and their team had two pro-Hillary Clinton speakers on their stage in Chicago mere days before the famous upset. Their high-dollar predictions proved wrong on several levels.

This is therefore demonstrably the manufactured housing industry’s best coverage. Sign up for our industry leading emailed headline news at the link above or further below the byline.

 

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

We tackle the topics other trade media in MHVille are afraid to cover with the clarity and objectivity that we do.  So be right here at the home of “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, commentary.)

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.) 

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

 

1) Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

 

Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Manufactured Home Communities’ Dodd-Frank Moment Looms, Senator Elizabeth Warren Takes Aim at Several Manufactured Housing Institute Community Members

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

Senate Democrats – Including 2020 Presidential Contenders – Ask CFPB Protect Consumers Against Predatory Lenders — Point Finger at Clayton Homes, Berkshire Hathaway Lending

Washington Leak – Justice Department Prepares Major Antitrust Investigation

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates

Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

EQUITY ALERT: Levi & Korsinsky – Investigation Possible Fraud by Certain Officers and Directors of Cavco Industries, plus MH Stock Updates

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

June 18th, 2019 Comments off

 

WhatCongressionalRepsSenatorsIndustryProfessionalsShouldBeAskingGSEDutyToServeManufacturedHousingMHProNews

There are several ways to understand people and organizations. One method, is to listen to what they say.

 

Another is to see how what they claim compares to what they actually do. 

Yet another is the investigator’s method, which is “follow the money.”

A classic variation on the above is the question: Cui Bono? Who benefits?

Toadies and lemmings will simply follow mindlessly, even if they are following a ‘leader’ over a cliff.

ToadySycophantDefinedDailyBusinessNewsMHProNews

MHInsider, George Allen, others are arguably the current examples of toadies to the industry’s powers that be.

The Manufactured Housing Association for Regulatory Reform (MHARR) has been pushing, prodding, and calling for action, not words by the Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac with respect to their congressionally mandated Duty to Serve (DTS) manufactured housing.

By contrast, the Manufactured Housing Institute (MHI) has taken money from the GSEs to sponsor events that have failed to deliver DTS.

Who benefits from that, other than the largest corporate players that are trying to consolidate manufactured housing into ever fewer hands?

With that introduction, let’s dive into MHARR’s release, which follows below. That will be followed by some additional comments, links, insights, and information. 

MHARRlogoMHARRNewsHeaderMHProNews

MHARR REITERATES CALL FOR DTS INVESTIGATION

 

Washington, D.C., June 18, 2019 – The Manufactured Housing Association for Regulatory Reform (MHARR), in a June 13, 2019 communication to Fannie Mae Vice President Jonathan Lawless (copy attached), has reiterated its call for a congressional investigation into the failure of both Fannie Mae and Freddie Mac to implement the statutory Duty to Serve Underserved Markets (DTS) in relation to manufactured home personal property (or “chattel) loans.  Those loans, which provide consumers with the most affordable access to the nation’s most affordable non-subsidized homes, comprise nearly 80% of the manufactured consumer lending market.  Nearly 11 years after the enactment of DTS as part of the Housing and Economic Recovery Act of 2008 (HERA), however, neither Fannie Mae nor Freddie Mac have purchased any manufactured housing personal property loans pursuant to that mandate – which expressly includes such personal property loans – let alone provided the type of market significant securitization and secondary market support that Congress envisioned.  Indeed, even an extremely limited and highly restricted “pilot program” for such loans has yet to materialize after nearly two years of empty promises, and is referred to by Fannie Mae as only a “potential” pilot program. 

Instead of providing such crucial support for the largest single segment of the manufactured housing consumer lending market and mainstream, inherently affordable manufactured homes, as MHARR’s communication notes, both Fannie and Freddie have instead prioritized pilot programs for much higher-cost manufactured homes, as well as a supposed “new class” of manufactured homes with retail purchase prices as high as $220,000.00 – as contrasted with an average purchase of $71,900.00 for all types of existing, mainstream, HUD Code manufactured homes. Consequently, instead of expanding access to the industry’s most affordable mainstream homes, as DTS was designed to do, both Fannie and Freddie continue to discriminate against mainstream manufactured housing and mainstream manufactured housing purchasers, effectively forcing them into higher-interest loans offered by the finance subsidiaries of the industry’s largest corporate conglomerates, while stifling the recovery and market growth of the manufactured housing industry during a prolonged affordable housing crisis.  Indeed, this type of sustained institutional resistance to the full and proper implementation of DTS and the resulting ongoing discrimination against lower and moderate-income consumers of manufactured housing is, in substantial part, an outgrowth of the continuing failure of the industry’s post-production sector – dominated by the industry’s largest corporate conglomerates – to demand full compliance with DTS for manufactured housing.

Based, therefore, on the lack of any significant progress toward the market-significant implementation of DTS with respect to the vast bulk of the manufactured housing consumer financing market and apparent diversion of DTS activity into new, higher-cost types of hybrid manufactured homes, MHARR has called for a congressional investigation of Fannie Mae, Freddie Mac and their federal regulator, the Federal Housing Finance Agency (FHFA), with respect to unconscionable and unnecessary delays in the implementation of DTS for mainstream, HUD Code manufactured housing.

The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based
national trade association representing the views and interests of independent producers of federally-regulated manufactured housing.

 

Manufactured Housing Association for Regulatory Reform (MHARR)

1331 Pennsylvania Ave N.W., Suite 512

Washington D.C. 20004

Phone: 202/783-4087

Fax: 202/783-4075

Email: MHARR@MHARRPUBLICATIONS.COM

— 30 —

 

Think about what these MHI past and present members have said, and ask yourself, who side is MHI on?

MHCommunitiesOfAZNealTHaneyPresidentWhyTheyQuitManufacturedHousingInstituteMHIDailyBusinessNewsMHProNews600

What Haney’s statement reflects is the lack of credibility and effectiveness of MHI in their claims.

KennyLipschutzQuotePoorJobOfLobbyinginMHIndustry-postedMHProNews48thMHINCClist

2018-10-03_1018ManufacturedHousingInstituteHILogoCavcoFleetwoodPalmHarborFannieMaeFreddieMacLogoDailyBusinessNEwsMHProNEws

Marty Lavin advises, “Follow the Money” and “Pay More Attention to What People Do Than What They Say.” The GSEs are praising manufactured home quality, but then created a special class of manufactured homes, with key MHI member input, that is aimed at funneling that lending, per informed sources.

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

 

FollowThe MoneyPayMoreAttentionToWhatPeopleDothanwhatTheySaySpySea72MartyLavinYachtManufacturedHousingINdustryProMHProNews

Then, ask yourself, why hasn’t MHI done what MHARR is doing?

That’s tonight’s final installment of manufactured housing “Industry News, Tips, and Views Pros Can Use,” © here “We Provide, You Decide.” © ## (News, commentary, and analysis.) ##

(See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them. Third-party images and content are provided under fair use guidelines.)

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NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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Related Reports:

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Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

TimeToInvestigateFannieFreddieMishandlingofDutyToServeDTSMHARRissuesPerspectiveManufacturredHousingAssocRegulatoryReformLogo

https://manufacturedhousingassociationregulatoryreform.org/time-to-investigate-fannie-and-freddies-mishandling-of-dts/

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


EQUITY ALERT: Levi & Korsinsky – Investigation Possible Fraud by Certain Officers and Directors of Cavco Industries, plus MH Stock Updates

June 18th, 2019 Comments off

CNNmone6.18.2019ManufacturedHomeStocksMarketsReportsMHProNewsJust when you thought it was safe for Cavco Industries (CVCO) shareholders to go back into the water again, Levi & Korsinsky, LLP have announced yet another investigation into the issues that became known on November 8, 2018.  On a day when the markets broadly rose, that will be our spotlighted feature for this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

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  • Red Robin, White Castle report Impossible Burger shortages as Impossible Foods struggles to meet demand
  • The most expensive lease in the US will cost you $1.5M per month
  • Are you considered middle class? Here’s 1 factor beside salary that determines your status
  • Varney: When it comes to money, America makes it rain
  • Iran, China trade and Fed watch: ‘Will they or won’t they’ cut?
  • Drowning in debt vs. government shutdown: Which would you prefer?
  • The strength of the US economy
  • Gary Woodland on the tax implications of his U.S. Open win in California
  • Men in US could outlive retirement savings by 8 years, women by 11 years: WEF
  • Tesla under pressure as rivals prepare to launch new electric models
  • BMW, Mercedes-Benz, Audi and others are all beefing up their electric offerings in a new challenge to Tesla.

Today’s markets and stocks snapshot, at the closing bell…

9MarketIndicatorsYahooFinance6.18.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s MH Market Spotlight Report –

LeviKorsinsinksyLegalInvestigationCavcoIndustriesOfficersDirectorsDailyBusinessNewsMHProNews

Via a press release to the Daily Business News on MHProNews:

 

EQUITY ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Cavco Industries, Inc.

NEW YORK, June 17, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky announces it has commenced an investigation of Cavco Industries, Inc. (“Cavco” or “the Company”) (CVCO) concerning possible violations of federal securities laws.

On November 8, 2018, in a Form 10-Q filing with the U.S. Securities and Exchange Commission, Cavco announced that it had previously received a subpoena from the SEC’s Division of Enforcement requesting certain documents. According to the Company, this subpoena was received on August 20, 2018. Cavco also announced that on October 1, 2018, its former Chairman, President and CEO also received a subpoena. To obtain additional information…

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171

 ##

Cavco has been taking steps to shore up their bona fides with investors.

A sampling of related reports on this often revisited, seemingly ongoing issue are linked below.  Type “Cavco Industries” and/or “Joe Stegmayer” into our search box and you will find more.

Related Reports:

Joe Stegmayer, Cavco Industries, MHI Chairman, Insights from Innovative Housing Showcase

Cavco Industries (CVCO) Officials Issue Several Warnings

Cavco Industries Investigated Anew for Violations of Federal Securities Laws, plus Manufactured Home Industry Stock Updates

Post “Debacle” – Insider Trade @ Cavco Industries – Has CVCO Hit Bottom? Plus, Manufactured Housing Equities Market Updates

8 Months of Declining Year-Over-Year HUD Code Manufactured Home Production – When Will Manufactured Housing Institute Act?

Positive, Uplifting Third-Party Reports Favor Modern Manufactured Housing, So What’s Going Wrong?

 

Yahoo Finance Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

ManufacturedHousingIndustryConnectedstocks618.2019DailyBusinessNewsMHProNews

Updated:

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

June 18th, 2019 Comments off

 

ViewsFromTrenchesManufacturedHousingFactoriesRetailersMHCsOthersSoundOffDailyBusinessNewsMHProNews

National and state level data are obviously relevant. But so too are impressions and facts that arise from street retailers, manufactured home communities, and HUD Code producers.

 

 

One multiple location retailer told the Daily Business News on MHProNews that they are having a good year.  They report that most, but not all, of their locations are up over last year. That’s not Clayton, which will be the focus of a separate upcoming report. 

Other sources besides ‘Big Blue’ – code for some that means Clayton Homes – have told us that they are up, flat, or down compared to last year. One producer is reportedly ‘to the saws,’ per a well-connected independent retailer, while others are 30 to 45 days out.

Factory lead-times are generally down from a year ago.  Depending on the part of the country and the plant, they are from about 2 weeks to 10 weeks out.  A year ago, 16 weeks was far more commonly heard from numbers of HUD Code factory-builders. 

While a buyers group says that they are up year-over-year last year, that must be taken with a grain of salt, as the industry is down about 10 percent nationally vs the same time next year. 

A source with Legacy Housing (LEGH) said, “Tony, production here is 3-5 weeks out.” As a publicly traded company, that data will eventually turn up in their SEC filings.

Here is a snapshot from a well-placed source with another non-‘big blue’ vertical operation.  As a reminder, MHProNews turns some quotes bold and brown to make them pop, but the punctuation, spelling, etc. are all in the original:

Orders are soft at mfg. but applications up at Retail

It is coming

My monitoring graphs tell me over last 20 years there is a pick  of 8 to12% at mfg. that starts in mid  July…. It has always been thereripple or tsunami it happens many speculate why it happenssometimes it falls in Sept and sometimes it goes through winter.

Also, business has never been down in an election yearcoming..

June Vacation month over 

Got get ready for school this fall

Time to turn and act on plans

No doubt the excessive rains have slowed deliveriesthat is going to pass

Sales centers got jammed with inventory during winter and those are beginning to come downwhich will create some scattered opportunities for mfg. replacements. 

New Vision Homes in Madill, OK may be a stressful situation to make itI didn’t say it.

This should not have happenedbut a blip in the market shows how vulnerable some are

Presido, TX. mfg. dodge a bullet on 5% tariffSolitaire

Built in Mexico, transported over the bridge and tested and appliances installed and labeled in Presidio… (built in Americaso they skate the built-in-Mexico to exploit labor.. could have killed the singles with a 5% hit….

Biggest issue with GSE is not getting us chattel in HUD homes and

Treating us like chopped liver on the upper end HUD product…  missed the marktrying to make a new class

Went to Tunica and there were plenty of Freddie/Fannie proposed product….

And the new market …. The site builder who is squeezed on the cost of stick built

…. Did not do anything for main stream for  us…  if so we may not be in a down turn… if the economy is roaring …. Where is our ray of sunshine… ???

Best kept secret…”

That source has previously blasted the so-called new class of homes, see that and more in the report linked below.

 

“What Are We, Chopped Liver?” MHI Member December 2018 Reactions

 

As a follow up, that manager was asked if zoning placement barriers hindered the industry?  The response:

You are probably correct

It is the look, not the code. 

…. But you disqualify many with the price to get the look…

Strange that a 3.5:12 pitched roof will keep out weather, but if [the] power [that be, the GSEs] does not like the look… it will not get accepted… and some customers are denied housing… why?

(not talking about subdivisions; they have to be similar to promo community at the address)

Strange, if not 100% drywall it will not qualify for the [GSEs] program why.. who says. Why are you getting into that specwhy not let the customer chooseyou cannot see it from the street but you knocked out customers and some mfg. facilities

Okay, we have a two year window of trial….

We will see…”

Rephrased, angst over a misdirection of the Duty to Serve financing to the new class of homes, and away from all other manufactured homes, plus and a lack of parity in placement that ought to be permitted by the enhanced preemption provision of the Manufactured Housing Improvement Act (MHIA) of 2000 are on that professionals mind.  That manager is far from alone.

 

Manufactured Housing Professionals, HUD Secretary Ben Carson, Must Promote These Two Words

 

Land-Lease Community Frustration, Anger

Independently owned manufactured home communities have expressed anger and frustration over the types of headlines and concerns raised by videos like the Last Week Tonight with John Oliver’s “Mobile Homes” sparked.

Several have thanked us for the reports like the one linked below.

 

Prosperity Now, Nonprofits Sustain John Oliver’s “Mobile Homes” Video in Their Reports

 

A notable recent public comment from a higher profile MHI member is the one below.

 

 

Concerns Over Vertical Integration and Consolidation

One can learn a lot from inbound callers, as well as from messages.  The following Q & A helps reflect the view of a previously growing retailer.

Q: Member of your state association? 

A. No.

 

Q. Do you go to factory-sponsored events?

A. YES…All events

 

Q. What is the approx. radius of your prospect client base? 

A.    80% of sales are within a 25 mile radius.

 

Q. How many homes in inventory?

A. Carry about 30+ homes in one location, and about 20 in another

 

Q. How many MH communities do you know [well]?

A.    6.

 

How many retailers?  

A.    5.

 

Q. This isn’t a term paper, but any relevant thoughts to the above and our phone conversation are welcome.

A.    Challenges:

1. Ability to grow, be profitable and have long term staying power as a business.

2. Develop a competitive advantage to most effectively serve retail customers, park owners, and different customer segments we wish to serve,

3. Rationalize our product offering to reduce inventory level by 50% by year end. We are paying about $23,000 in floor plan each month,

4. Ability to compete when competitive dealers resort to lower prices ranging about 10% less since they belong to dealer buyer groups and we do not,

5. Continue developing simple processes to follow and delegate more responsibilities with accountability,

6. Develop a more effective social media platform,

7. Train our sales team to improve how we serve customers, follow up and more self-sales staff sufficiency,

 

Q. Are you on our email list? (Notice: brackets are edited what follows below for clarity, otherwise the text is turned bold and brown to make it pop, but the balance is as submitted).

A.    I am the only one [at his store] on your mailing list. [Note, several owners and managers forward articles to their team members].

In response to a hypothetical question, what does the realtor expect if Democrats take control of all three branches of the federal government in 2020, this source said the following. It should be noted that this retailer works in markets that has significant numbers of Hispanics, has a bi-lingual staff, and note that many of their customers are undocumented.

 

1. Impact to individuals – There is a high probability to increase demand for affordable housing. Legacy [Housing] financing could be a great avenue to accommodate non-citizen retail financing…more so than Vanderbilt and 21st for customers with ITIN and non-citizens. There will be more regulations similar to Dodd Frank which will favor the corporate stores vs independent retailers. The scales of business survival tip in favor or corporate stores…with more regulation

2. Impact to U.S.-retailers will be taxed more and take incentive to grow. There will be regulation and cost to do business which will impact home affordability

3. Future Impact to independents and business professionals – I see a market where Clayton [Homes], Palm Harbor, Titan [originally part of Champion], and in 2020 Legacy through corporate stores will generate the majority of the business over time. [Independent] Retailers will be mostly found in rural or smaller areas. I see more dealers focus on specialty markets such as: Tiny Homes and used homes

 

 

Takeaways for Industry, Politicos, and Partisans

The Daily Business News on MHProNews are using those responses cited above not because there aren’t other perspectives, of course there are. There are industry firms led by pro-Democratic, pro-GOP, independents and those that could care less about politics. But quoted above are commonly held perspectives. It comes from a part of the country that could be viewed as more open to and accepting of undocumented immigrants than others.

Democrats elected dozens of Congressional representatives in 2018 based upon the notion that they were going to behave as more pro-business political moderates.  The quoted source above isn’t buying it based upon the verbal and written feedback. 

A non-association attorney who has numerous media and political ties told MHProNews that they expect a historic electoral college win in 2020. He said it he thought it would be similar to the Nixon vs. McGovern blowout, or Reagan vs. Mondale.  When asked if he trusted the polls, the short answer was no, especially this far out (about 500 days to the election).

That same attorney said his reasoning was historically low unemployment, wages up, taxes down and other positive economic news.  When asked about antitrust, housing access, or other issues that several 2020 Democrats are raising, he said he thought that was necessary for them politically, as they can’t take President Trump on without shifting the subject away from economic successes.  He did acknowledge that several things could occur between now and the election that might shift the momentum.

The industry’s independents often see trust-busting of monopolistic operations as an important topic. 

The trust in the Manufactured Housing Institute (MHI) is low among many independents, even among some in management whose companies are MHI members.

This snapshot is far from scientific in the way that Gallup, Pew, Rasmussen, or media polling operations are done. But it does reflect slices of insights that both professionals and politicos should be mindful of as they plan ahead.

These are the reports found nowhere else, except here at the manufactured home industry’s largest and most-read trade media – MHProNews – your source for “News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, commentary, and analysis.) ##

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Related Reports:

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Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Manufactured Home Communities’ Dodd-Frank Moment Looms, Senator Elizabeth Warren Takes Aim at Several Manufactured Housing Institute Community Members

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

Senate Democrats – Including 2020 Presidential Contenders – Ask CFPB Protect Consumers Against Predatory Lenders — Point Finger at Clayton Homes, Berkshire Hathaway Lending

Washington Leak – Justice Department Prepares Major Antitrust Investigation

 

“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates

Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

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Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

June 18th, 2019 Comments off

RealWorldEconomicsProfEdLottermanSaysPlayingMonopolyMoreThanJustRollingDiceDailyBusinessNewsMHProNews

Since 2005, Ed has been a professor of economics at Augsburg College in Minneapolis, MN, but has taught at many of the higher ed institutions in and around the Twin Cities. In his 30 years as a teacher, he’s had the privilege of educating thousands of students.

 

Before he stood at the head of the classroom, he spent time at the University of Minnesota where he got a bachelor’s degree in Latin American studies and a master’s degree in agricultural economics,” per the EdLotterman.com website page linked here.

Professor Lotterman recently authored an article for Twin Cities entitled Real World Economics: Playing monopoly is more than just rolling the dice.”

The Daily Business News on MHProNews noted on April 26, 2019 that: Ryan Young at the Competitive Enterprise Institute had this to say…“Both parties are making antitrust regulation a 2020 campaign issue. Neither President Trump nor most of the Democratic candidates are proposing improvements.

Let’s note for our ever-growing audience, which obviously means numbers of first time readers, that quoting a source doesn’t imply agreement.  A quote is what it is, and presumably reflects the views of the person or organization cited.  Let’s further note that MHProNews has for years often turned quoted text bold and brown to make it ‘pop.’ Those points made, let’s proceed.

Young also said, After a two-decade lull following the Microsoft case, big antitrust enforcement cases are back in vogue. Both political parties are making antitrust regulation a 2020 campaign issue. Regulators, politicians, and voters have reasonable concerns about concentrated corporate power.” 

Last year, MHProNews spotlighted columnist David Leonardt’s snapshot of current trends in monopolization and a look at ‘trust busting’ history in the report linked below.

New York Times-David Leonhardt-“The Monopolization of America,” Manufactured Housing Slant

 

Industry professionals are well aware of the hot nature of this topic, particularly for manufactured home independents. But those ‘big boys’ who are increasingly being spotlighted for possible collusion and antitrust behavior are likewise following this issue with keen interest.

With that backdrop, Professor Ed Lotterman’s recent column on monopoly follows, provided under fair use guidelines for media.  It will be followed with some additional information and commentary.

 

RealWorldEconomicsPlayingMonopolyMoreThanJustRollingDiceTwinCitiesPioneerPressDailyBusinessNewsMHproNews

Defense and aerospace giant Raytheon announced plans last week to merge with rival defense and aerospace giant United Technologies, creating a huge corporation, albeit a bit smaller than Boeing, and reducing competition in defense contracting.

Yet hardly anyone is raising the issue of “antitrust,” as we call competition enforcement in our country.

This may be because we have seen a progressive concentration of big business into fewer and larger firms, with resulting reduced competition, in many sectors in recent decades. There has not been any real government action to stem this tide in 20 years. So why start again now?

The last was the Clinton administration’s suit against Microsoft’s monopolistic practices over software and operating systems. That was well along, but not yet decided, when successor George W. Bush was inaugurated in 2001. Many economists thought the suit promoted economic efficiency and many legal observers thought the Justice Department had essentially won. But limiting business pricing power was not an objective of Bush 43. The government abruptly dropped the suit.

Nothing much has happened since then, even as we have seen growing concentration in many sectors, including defense, aviation, chemicals, pharmaceuticals, agricultural seeds, fertilizers and chemicals, banking and other financial services, and many more.

That may change, however, if a Democrat is elected to the White House in 2020. Massachusetts Sen. Elizabeth Warren, a law school professor specializing in bankruptcy and consumer protection legislation, is the most vocal and specific of the many Democratic candidates in regard to curbing monopoly power. But nearly all of the other candidates make it part of their platform.

Anyone with historical perspective may note parallels between today and the Gilded Age at the end of the 1800s and into the Theodore Roosevelt administration. We are now similarly seeing high concentrations of upper incomes with business exercising great political power. This was curbed back then by the political reaction of the progressive era, one in which Republicans and Democrats played a big part. Sen. John Sherman, of Ohio, who sponsored the 1890 Sherman Antitrust Act, was a leading Republican who also served as both secretary of State and secretary of the Treasury in GOP administrations. GOP president Roosevelt prided himself on being a “trust buster” and in 1912 led a third-party revolt against his own hand-picked successor, William H. Taft, for the latter’s insufficient willingness to regulate business.

Regulation of business abuses was key in the platform of Democrat Woodrow Wilson, who won that year. Alabama Democratic Rep. Henry Clayton wrote major legislation in 1914 that strengthened antitrust powers.

But issues wax and wane. By the 1970s, deregulation was in vogue. President Jimmy Carter presided over the deregulation of air, rail, trucking and barge transport. Democrats from Nevada and West Virginia sponsored the key legislation ending 90 years of railroad rate controls.

At the same time, within the economics discipline, interest in control of monopoly power waned. Many economists thought economic losses to monopoly power were small and that regulation could cause greater harm.

But now the pendulum is swinging again. Abuses of customers by financial firms such as Wells Fargo and extreme and apparently unjustified price increases for basic essential drugs such as insulin produce public and political outrage. Just last week, Minnesota Gov. Tim Walz called for a special legislative session to address the insulin problem. So expect the issue of monopoly control to re-emerge on the forefront of public debate and stay there for some time.

All this merits a review of basic terminology and economics of monopolistic issues. Start with some definitions:

Monopoly is a situation in which there is only one seller of a good. With no competition, a monopoly firm will reduce output below the level that would prevail in a free market and can sell it for a high price. That harm to the public is well known, but econ students also learn that monopoly inherently creates economic inefficiency, with waste of resources for society as a whole.

Pure monopolies are rare, but we do create them when we grant pharmaceutical and medical device firms patents while not doing anything to control prices charged for their patent-protected products. Price-regulated monopolies such as utilities are allowed because the barriers to market entry, such as building rival electrical power grid networks, are prohibitive to competitors and inefficient to operate.

The next step is duopoly, a market in which there are two producers, though not necessarily the same size. Large passenger airliner production, in which Boeing and Airbus dominate, is a duopoly. But for smaller planes, including those in the class of the Boeing 737, the barriers to entry are lower and smaller firms like Canada’s Bombardier and Brazil’s Embraer can compete.

Note that duopoly is different from bilateral monopoly. This is a market in which there is only one seller facing only one buyer. The Electric Boat division of General Dynamics is the only U.S. producer of submarines and the U.S. Navy is the only buyer of most classes, is an example of this.

At the Fortune 500 level, most corporations operate in situations of oligopoly. Just as oligarchy was government by a few powerful nobles, oligopoly is a market dominated by a few powerful businesses, usually corporations. Farm machinery, autos, air travel, pharmaceuticals, grain marketing, electrical equipment, petroleum, chemicals and many other sectors are dominated by a few large firms, particularly in any single geographic area. So too, increasingly, is health care.

This market structure is not static. In the 1930s, my mother, as a college debater, argued for government regulation of main-street chain stores. In the 1960s, Sears, Wards and new entrant K-mart dominated household retailing. But Target and Walmart shouldered these aside only to see themselves lose market share first to specialized big-box retailers and now to e-commerce.

“Monopolistic competition” is a situation of great competition, but not quite meeting the textbook ideal of “perfect competition.” Often the only difference is a branded product rather than the “homogeneous commodity” in perfect competition. Retail groceries, gasoline, restaurants and so forth are examples of monopolistic competition.

The structure here may vary depending on the level of analysis. McDonald’s, Burger King, Subway, Culvers and others are in oligopoly nationally, but at the consumer level there are dozens of individual eating places from which to choose. And even these larger national and regional providers vary in terms of individual consumer taste and level of convenience.

The incentives for a pure monopoly and the actions they do take are clear and easy to analyze. Those for oligopoly are murkier.

Yes, as a group, an oligopoly will be better off if companies cooperate to act as a single monopolist. That is what “trusts” were all about. That is what a cartel like OPEC strives to do. But as OPEC well knows, it is hard to keep members from cheating. So collusion is difficult. There were no real tools for economists to use in analyzing the dynamics within oligopoly until the application of game theory to economics in the second half of the 20th century.

There are certain situations, beyond granting patents to motivate innovation, where we tolerate monopoly, as in the utilities example above. Officers of Raytheon would argue that defense systems now are in this category. Development costs are so high and production numbers so low, that preserving multiple small firms would reduce research and increase production costs. The same may be argued by drug companies.

Industry structure varies with mergers and divestitures. These often aim for some sort of “integration.”

“Vertical integration” means bringing all steps of production into one firm. At one time, U.S. Steel operated iron mines, limestone quarries and owned coal mining companies. It made raw steel but also had a bridge-building subsidiary and others that made products like barbed wire. UnitedHealth acquiring the Express Scripts on-line pharmacy falls under this rubric.

“Horizontal integration” is the merging of firms engaged in the same stage of production. McDonnell and Douglas had somewhat different product lines, but both were major airplane manufacturers. Raytheon and United Technologies are complementary in products.

There may be a two-step process. A large Mexican cement company purchased South Dakota’s state-owned cement plant, one of many such acquisitions worldwide. But then it started buying up small-town ready-mix concrete plants, moving eastward along I-90. The first step was horizontal, the second vertical.

Much more could be said about such “industrial organization” issues. They will be in the news in coming months. Exactly how seriously voters take competition issues is uncertain, but expect them to play a role in the next elections. ##

By St. Paul economist and writer Edward Lotterman, originally published at this link here.

###

 

Once upon a time, blogger George Allen, citing the Manufactured Housing Association for Regulatory Reform at the now defunct Journal of Manufactured and Modular Housing at length, had plenty of things to say about the monopolization of manufactured housing. However, most in our industry’s trade media have remained largely mute on the topic, as the report linked below documents.

“Monopoly” in Manufactured Housing Alleged by George Allen, MHI Defender’s Turn by former Community-Investor, Self-Claimed EducateMHC Blogger

 

When CNBC’s Diana Oleck asked Clayton Homes CEO Kevin Clayton about what was tantamount to a question on monopoly, his reply was captured on video.  That is found in the report linked below.

 

Tariffs “…Will Effect Demand,” says Kevin Clayton, Answers CNBC’s Monopoly Question – Video – plus Manufactured Housing Market Updates

 

MHProNews has repeatedly asked Clayton, 21st, the Manufactured Housing Institute that they purportedly dominate, and their outside attorney to comment on the concerns linked below.

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

 

They have exercised their 5th Amendment right to remain mute in response to our offers to confirm or deny the concerns raised and evidenced in reports like the one linked above. That said periodically, for whatever reasons, others will speak up for them.  One such was ManageAmerica’s Andy Gedo. That exchange is linked below.

 

Andy Gedo, Partner at ManageAmerica, Raises Clayton Homes Monopolistic Practices Debate; Manufactured Housing Institute Related Issues

 

Lotterman’s debatably correct in saying that there are indeed significant reasons to believe that antitrust will be a higher visibility issue in 2020.  There have been mixed signals out of the Trump Administration, sometimes signaling a strong stance, sometimes more subdued.  That may well be in keeping with a similar tact on a range of thorny issues.

While the hometown video from Knoxville TV doesn’t mention antitrust, it does outline other federal challenges that Clayton and their lenders are facing.

 

 

Sources tell MHProNews that the Department of Justice has Clayton and Berkshire on their radar.  Time will tell.  MHProNews will continue to monitor this issue, as it impacts investor, owners, public officials, and the nation at large. Stay tuned.

That’s today’s first installment of “News Through the Lens of Manufactured Homes, and Factory-Built Housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Sextortion, Business, Investing, FBI Reports Scam Rising, plus Manufactured Home Stock Updates

June 17th, 2019 Comments off

CNNmone6.17.2019ManufacturedHomeStocksMarketsReportsMHProNewsIt is an underreported, but rapidly rising risk for large swaths of the population. But it may hold particular risks that are not fully appreciated by investors. Tips on how to spot and avoid this problem will follow. On a day when the markets went up mildly ahead of the next Fed statement, the threats posed by sextortion will be our featured report.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

CNN Business

  • Manufacturing slows
  • The industry contracted for the first time in two years as the effects of tariffs set in
  • This week’s Fed meeting is front and center on investors’ minds
  • Christine Romans: Investors are ‘pretty sanguine.’ Here’s why
  • Amazon condemns Alexandria Ocasio-Cortez for ‘starvation wages’ comment
  • Most self-driving companies say this tech is crucial. Elon Musk disagrees.
  • Genius accuses Google of stealing song lyrics
  • BuzzFeed News staffers stage walkout in effort to compel management to recognize union
  • Bitcoin hit $9,300, its highest level in 13 months
  • Sotheby’s sold to billionaire art collector Patrick Drahi for $3.7 billion
  • He didn’t have a computer growing up. Now he’s CEO of Google
  • Walmart wants to sell its own line of steaks. Here’s why
  • Boeing is open to changing the name of the 737 Max
  • Women aren’t doing enough to secure their financial future
  • Beyond Meat will start making ‘ground beef’
  • Fired for being transgender: The fight for LGBTQ workers’ rights
  • Sexist hiring practices don’t only hurt women. They hurt men, too
  • The fight for transgender healthcare at work
  • What it’s like to be labeled the wrong gender at work
  • Minority employees are often asked to work ‘double duty’
  • Walmart wants to sell its own line of steaks. Here’s why
  • SPECIAL REPORT How a cheap, brutally efficient grocery chain is upending America’s supermarkets
  • Aldi moves into Walmart’s backyard
  • Lidl will open 25 new US grocery stores over the next year
  • The TJMaxx of supermarkets is going public

Fox Business

  • Huawei exec says there’s no link between Chinese government and telecom company
  • China’s Huawei gives Fox rare look inside headquarters amid US ban
  • How Gloria Vanderbilt became a designer jeans pioneer, fashion industry leader
  • Airbus, in blow to Boeing, to launch new long-range jet
  • Amazon slams Alexandria Ocasio-Cortez over ‘starvation wages’ comment: ‘AOC is just wrong’
  • Papa John’s, Shaquille O’Neal endorsement deal includes $4.1M payday
  • J. Watt calls on fans to ‘chip in and buy’ Whataburger after a majority stake is sold
  • Investors await Fed decision, stocks see modest gains
  • Beyond Meat’s plant-based ground meat ‘Beyond Beef’ to be added to select stores nationwide
  • Midwest corn farmer on planting season: ‘Disaster like I’ve never seen before’
  • Facebook cryptocurrency launch: Why ‘Libra’ could be worth billions
  • Celebrity chef Rocco DiSpirito: Beyond Meat IPO validates the fake meat market
  • Tariffs aren’t only way to solve problems with China, NRF’s David French says
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  • Comcast launches eye-control remote for viewers with physical or mobility disabilities
  • Boeing: Defense, aerospace market to grow to $8.7T
  • Domino’s to test autonomous pizza delivery in Houston
  • Apple’s Tim Cook: Tech companies need to take responsibility for ‘chaos factory’ they built
  • Winning solutions from Fortune 500 business leaders
  • Iran, China trade and Fed watch: ‘Will they or won’t they’ cut?
  • Drowning in debt vs. government shutdown: Which would you prefer?
  • Target glitches raise concerns over the impact of tech[overlay type]
  • Target glitches raise concerns over the impact of tech
  • Driverless trucks headed to Florida roads
  • Bitcoin headed to $10K?
  • Apple’s Tim Cook slams big tech over privacy issues
  • Amazon slams Alexandria Ocasio-Cortez over ‘starvation wages’ comment: ‘AOC is just wrong’

 

Today’s markets and stocks snapshot, at the closing bell…

9MarketIndicatorsYahooFinance6.17.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s MH Market Spotlight Report –

 

SextortionBusinessInvestingFBIReportsScamRisingManufacturedHomeStockUpdatesDailyBusinessNewsMHProNews

Still from video posted further below.

The next three bullets are per CNBC:

  • Overall, extortion by email is growing significantly, according to the FBI’s Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported crimes, with total losses of $83 million.
  •  “The majority of extortion complaints received in 2018 were part of a sextortion campaign in which victims received an email threatening to send a pornographic video of them or other compromising information to family, friends, coworkers or social network contacts if a ransom was not paid,” according to the FBI.
  •  “Shame can be a tremendous weapon that these criminals use,” one expert explains.

If you think that sextortion only happens to billionaires or millionaires, think again. 

If you think it is only an American problem, the video that follows – which raises points applicable in the U.S. or Canada – is useful.

 

 

The world of tech and sextortion has put untold numbers at risk.  

While CNBC opted to report on this topic today, it is arguably an underreported challenge, based upon numbers supplied by the FBI.

Among the steps that arguably ought to be taken by publicly traded firms is to safeguard shareholders against the particular risk that sextortion could hold.

Have you asked firms you are invested in what steps, if any, they have taken to safeguard against the possible risks caused by sextortion or other similar scams? Surprises that seem unrelated to the core operation of a business could create an ugly surprise.

 

Related Reports:

Tips for Wealthy re Jeff Bezos Stolen Sexts Message Snag, Amazon Woes? Plus MH Market Updates

Joe Stegmayer, Cavco Industries, MHI Chairman, Insights from Innovative Housing Showcase

 

Yahoo Finance Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

 

YahooManufacturedHousingIndustryConnectedStocksMHProNews6172019

Still from video, below.

Updated:

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

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