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Posts Tagged ‘Chairman of the Board’

UMH Anniversary at the NYSE, Landy Rings Closing Bell

January 20th, 2017 Comments off
UMHCelebrates50AnniversaryattheNYSELandyRingsClosingBellcreditNYSE-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NYSE.

In celebration of their 50th anniversary, UMH Properties, Inc. (UMH: NYSE), led by

Eugene W. Landy, Chairman of the Board of UMH, rang the closing bell at the New York Stock Exchange (NYSE) Thursday, Jan. 19.

The event coincided with the company’s quarterly board meeting and a special dinner reception for close partners.

The Company is honored to celebrate its 50th Anniversary at the NYSE,” said Landy in comments last week on the event.

UMH is one of the oldest publicly-traded REITs in the world, and as the Founder of our Company, I could not be prouder of our many achievements. UMH’s total-return performance ranked third of all 180 REITs in 2016. The Company is very well positioned for continued outperformance in the years ahead.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Drew Director Sells Shares

October 4th, 2013 Comments off

Board Chairman Leigh Abrams of Drew Industries, Inc. (NYSE:DW) sold 10,000 of the company’s shares on the market at an average price of $44.09 for a total haul of $440,900.00. Abrams now owns 73,287 shares with a value of $3,230,827, according to northforkvue.com. Dated Sept. 26, the transaction was disclosed in a legal filing with the Securities and Exchange Commission (SEC). MHProNews reported yesterday, October 3, of the ceremony welcoming the move of Drew’s headquarters to Elkhart County, Indiana. Through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies a variety of components to the manufactured housing and recreational vehicle markets.

(Image graphic: Drew Industries, Inc.)

Third Avenue Buys Into Three New Stocks

September 26th, 2013 Comments off

The chairman of the board of Third Avenue Assets Management, Marvin Whitman, announcing the company’s third quarter portfolio update, has acquired a 20 percent stake in Cavco Industries, Inc., a $510.4 million market cap with stock up over 25 percent in the last 12 months. He purchased 1,809,108 shares when the share price averaged $54 in the second quarter, accounting for 20.47 percent of all outstanding shares. Whitman previously sold his 50 percent share of Fleetwood Homes, Inc. to Cavco, as MHProNews reported here June 14, 2013, garnering Cavco stock in the exchange at that time. Noting Cavco is essentially debt free, Whitman says the company posted very strong results for the second quarter, and thinks “a considerable upside still exists for Cavco Common,” as reported by nasdaq.com. In a letter to investors, Whitman depicts three factors in hi stock analysis: “First the creditworthiness of the company issuing the equity; second, the ability of the issuer to grow net asset value (“NAV”) (or its surrogate book value) over the intermediate to longer term; and, three, the price of the common stock relative to NAV. As MHProNews knows, Cavco is the second largest producer of manufactured homes and modular homes and buildings in the U. S. The company’s Third Avenue Value Fund (TAVFX) closed Sept. 24 -0.07 percent at $57.62. He also purchased 823,730 shares of Total SA, the world’s fifth largest publicly-traded integrated oil and natural gas company; the company also bought 269,034 shares of Pargessa Holding SA, which owns operating companies in a variety of industries.

Warren Warns, Obamacare Must Go

September 19th, 2013 Comments off

Oracle of Ohama Warren Buffett says Obamacare should be eliminated because the average citizen will suffer the most without changes to the plan. He adds health care costs need to be controlled before providing health insurance to everyone, otherwise continuing as we are will lead to less competition. As newsbusters.org notes, the billionaire investor was an early supporter of Obama, but compares health care costs to a tapeworm eating our “economic body.” MHProNews knows Buffett is Chairman of the Board of Berkshire Hathaway, parent company to Clayton Homes, the U.S.’s largest producer of manufactured and modular homes, as well as Vanderbilt Mortgage and Finance and 21st Mortgage Corp., both lenders to consumers of factory-built homes.

(Photo credit: businessinsider.com-Warren Buffett)

Zell Reduces Investment in Commercial Real Estate

September 12th, 2013 Comments off

One of the biggest investors in U.S. real estate in the ’90s and early part of the century, only 30 percent of Sam Zell’s personal investment portfolio is in real estate, compared to 50 percent in the 1990’s. According to the worldpropertychannel.com, billionaire Zell told The Wall Street Journal, “We’re dealing with a world that’s dramatically more volatile, and that requires more caution and care than before. I’m not singing ‘Kumbaya’ like other people.” Following the market collapse in 2008, he shifted his interest to natural gas, international real estate investments in emerging markets including Columbia and India, and a distressed-debt fund. As MHProNews knows, Zell is Chairman of the Board of Equity LifeStyle Properties, Inc., (NYSE:ELS) the largest owner of manufactured housing communities in North America with 380 properties comprised of over 140,000 homesites.

(Photo credit: Equity LifeStyle Properties, Inc.–Lake Haven, Clearwater, Fla.)

Emergency Quadruple Bypass Surgery for RV/MH Hall of Fame President Darryl Searer

August 22nd, 2013 Comments off

darryl-searer-rv-mh-hall-fame-president-posted-manufactured-housing-daily-business-news-mhpronews-com-Darryl Searer, president, RV/MH Hall of Fame is progressing well today after undergoing a successful emergency quadruple bypass surgery yesterday morning at the Memorial Hospital in South Bend, according to Barry Cole, Hall chairman of the board. Cole said, “Over the past weekend Darryl suffered what he considered possibly symptoms of a heart attack and contacted his cardiologist.  An examination on Monday proved inconclusive so more extensive tests, including an exploratory heart procedure, were conducted on Tuesday.  His doctor concluded that Searer, in fact, had suffered a mild heart attack and his condition serious enough that he should undergo immediate emergency quadruple bypass surgery.” In addition to his duties at the Hall, Searer is also the semi-retired chairman of the board of Ultra-Fab Products, Inc., an Elkhart-based supplier of OEM and aftermarket RV products. Cole concluded, “He is blessed by catching this in time, and please join me in sending a prayer his way as he continues his recovery.” MHProNews publisher, L. A. “Tony” Kovach said, “We all want to extend our heartfelt prayers and best wishes to Searer, his family and associates for his speedy recovery.” ##

(Photo Credit: RV-MH Hall of Fame)

Drew Draws New Leadership

February 13th, 2013 Comments off

PRNewswire informs MHProNews Drew Industries, Inc. has announced that President and CEO Fred Zinn will step down from his position effective May 10, 2013, and will be replaced by Jason D. Lippert, Chairman and CEO of Lippert Components and Kinro, Inc., Drew’s two subsidiaries. An executive officer since 1988, Mr. Zinn served as president and a director since 2008, and as CEO since 2009, and will continue as a consultant through 2013. Mr. Lippert will continue to serve as Chairman and CEO of Lippert Components and Kinro, as well as a director of Drew. Scott Mereness has been selected to serve as President and Chief Operating Officer (COO) of Drew effective May 10, 2013, and will continue in his role as president of Lippert and Kinro. Leigh J. Abrams, Chairman of the Board of Drew, says, “This carefully conceived leadership transition brings Jason Lippert and Scott Mereness to Drew’s top executive positions. Both these executives are highly experienced, and they have the vision, energy and ability to lead the company through its next phase of growth.” In addition, the corporate headquarters of Drew will relocate from White Plains, NY to Elkhart County, IN, the corporate headquarters of Lippert and Kinro. Drew is a major supplier of components to the MH and RV industries.

(Image credit: Drew Industries, Inc.)

Passages: Edward J. Hussey, Sr.

February 9th, 2013 Comments off

MHProNews has learned of the death of Ed Hussey, Sr., 95, president and chairman of the board of Liberty Homes, of Goshen, IN for over 40 years. An outspoken advocate and strong supporter of the manufactured housing industry, he served two terms as chairman of the Manufactured Housing Institute (MHI) in the early years of the organization. In 1985 he was instrumental in the founding of the Manufactured Association for Regulatory Reform (MHARR), serving as the first chairman. In recognition of his longtime support of the industry, in 1995 he was inducted into the MH/RV Hall of Fame. MHProNews sends its deepest condolences to his family.

(Photo credit: Yoder-Culp Funeral Home)

AMHA Chooses Leadership

December 7th, 2012 Comments off

MHProNews has been notified the Arkansas Manufactured Housing Association (AMHA) has announced elected officers and directors for 2013-2014 at their recent 41st annual convention in Little Rock. The leadership positions are: Board Chairman, Sherman Price of Price Mobile Homes; Vice Chairman of the Board, Kevin Hawks of Hawks Homes; Sec., Brian Hardage of Livingston Homes; and Treasurer, Scott MacFarlane of US Bank. Other board members include Kyle Bennett, Neal Bodenstein, Dwight Chandler, Danny Mills, Matt Riley and Ken Ross.

(Image credit: Arkansas Manufactured Housing Association)

UMH Helps Storm Victims Find Sites

November 16th, 2012 Comments off

SacBee reports Eugene W. Landy, Chairman of the Board of MHC owner UMH Properties, Inc. says none of their four communities in the path the storm took suffered adverse impact, although some staff members did sustain personal damage. He says, “UMH is working with Federal and State agencies to provide emergency housing for New Jersey residents displaced by the storm. Given that our New Jersey communities are 95% occupied, we will provide emergency housing to the greatest extent possible.” As MHProNews understands, UMH owns 55 MHCs comprised of 10,400 homesites.

(Photo credit: UMH properties, Inc.)