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Joe Stegmayer, George F. Allen, Manufactured Housing Institute Slogans, Slump, Slurs, Solutions

May 14th, 2019 Comments off

 

JoeStegmayerPhotoCavcoIndustriesLogoManufacturedHousingInstituteLogoChairmanGeorgeFAllenPhotoSlogansSlumpSlursSolutionsMHProNews

Photo at left is a still from a YouTube video, posted further below.

The manufactured housing industry is now 7 months into a slump – a downturn. How is that possible, during an affordable housing crisis?  Is it incompetence?  Or something else?

 

While controversial himself in mainstream media reports for a variety of reasons, prominent Manufactured Housing Institute (MHI) member Frank Rolfe is on record for calling out prior MHI Chairman Nathan Smith and the association for “hypocrisy.”

FrankRolfeMHIChairmanNathanSmithSSKCommunitiesHypocrisyQuote-MHProNews

Rolfe also accused MHI of failing to promote good news, while failing to defend against bad news.

FrankRolfeMHFundRVHorizonsMobileHomeUniversityDailyBusinessNewsManufacturedHomeIndustryResearchReportsDataAnalysisMHProNews595

The phrase ‘the industry’ is often a euphemism for MHI. While the two are obviously distinct, given that MHI is the industry’s umbrella association and larger than its rivals, there are reasons that phrase is used.

 

Despite his own controversies, did Rolfe make valid points in the quotes cited above?

Let’s look.

A recap of Nathan Smith, partner in SSK Communities, and their media and legal woes are linked below. It includes numerous mainstream media video reports, which underscored Rolfe’s first point.

 

Nathan Smith, SSK Communities, Manufactured Housing Institute Leader, Profitably Correcting the Record

 

The recent, useful – and largely favorable comments to the manufactured home industry in general – made by HUD Secretary Ben Carson in a speech last week  are of this morning at the date and time shown still not posted on MHI’s website. Why not? It is arguably good news for the industry at large. It was made at MHI’s own event.  Secretary Carson is in charge of the agency that has the primary federal oversight for manufactured housing.

Where is the MHI logic in not having a favorable talk spotlighted on their own website?  Again, this evidence makes a point Rolfe claimed about good news not being shared by MHI.

 

HUDSecBenCarsonMHILogowebsiteManufactuerdHousingInstituteLogo2019-05-14_0617MHProNews

 

This oddity begs questions. For example, is it only Rolfe at MHI who has expressed concerns about MHI? Hardly.

Kenny Lipschutz – whose firm is a MHI/National Communities Council (MHI/NCC) member – said the following in an interview with MHProNews.

 

KennyLipschutzHomeFirstCertifiedCommunitiesMHINCCmemberPuzzlesWhyMHIDailyBusinessNewsMHProNews

 

Tom Fath is a partner in his family’s manufactured home community business. The sell new and pre-owned manufactured homes.  Their operations are reportedly doing well. Which makes Fath’s comments all the more striking.

 

TomFathCreatedAnIndustryUnderAssaultQuoteWeSucceedWhenCustomersAreHappyDailyBusinessNewsMHProNEws

This comment was a response to a critique of MHI and their ‘advertorial’ campaign. Fath was arguing that facts and consumer benefits should be stressed, rather than claims that actually undermined the industry’s credibility.

 

Is Fath alone? No.

Current and former MHI members have privately and publicly called out the trade group for being ineffective, for favoritism, for being an oligarchy, or of de facto working to consolidate the industry.

In 2017, state communities associations broke from MHI, saying the planned to form their own trade organization. They have since done so. Their founder explained their break from MHI as follows.

NealTHaneyNAMHCOWhyBreakawayfromManfuacturedHousingInstituteMHI

 

So, there are significant examples of MHI members – past and present – plus other industry business leaders – that have in word and deed voiced published concerns about the state of the industry in general, and often named MHI in particular.

 

 

One More Level

MHI’s current and 2 prior executive committee members, have all faced various troubling legal or problematic business practice allegations.

 

ManufacturedHousingInstituteLogoMHIBoardOfDirectorsLogoMHIExecutiveCommittee

Satirical logo by MHProNews, provided under fair use guidelines.

 

George F. Allen, along with Spencer Roane and Tom Lackey of SECO have had their own mainstream media woes.

 

TylerJettChatanoogaTimesFreePressManufacturedHousingIndustryDailyBusinessNewsMHProNews

Allen and Roane have ‘taught’ selling contract for title at SECO or elsewhere, a practice that the New York Attorney General’s office and others have taken action against. https://www.timesfreepress.com/news/local/story/2018/may/26/industry-members-decline-take-sides-rossville/471775/

 

Allen has been an MHI critic in the past, as these pull quotes from his website remind industry professionals.

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George F.  Allen, has a modest following today, which once used to be a larger following. Once Allen was re-embraced by MHI’s leaders = purportedly to be a surrogate for them to blunt growing industry concerns and criticisms = Allen has muted his prior blasts, and has arguably turned instead at sliming MHI’s critics. 

 

But Allen, who was persona non grata just a few years ago at MHI, has more recently cozied up to and has been re-embraced by the Arlington, VA based association. Joe Stegmayer appeared again at Allen’s annual event in 2018.

 

 

Joe Stegmayer – as MHI’s Chairman – lends to the under-informed a certain credibility to Allen.  Allen in turn has purportedly attacked privately and publicly this publication for holding the industry’s power players to account. But instead of accepting the opportunity to disprove or debate the issues raised, Allen has resorted to slurs and a call to boycott MHProNews.

Allen’s call for a boycott is noteworthy, because it can be an element in antitrust law.  Allen has also used demonstrably flawed claims in a purported effort to slime the Manufactured Housing Association for Regulatory Reform (MHARR), which is trying to address underlying issues, and thereby help the industry return to growth. Attacking a trade group that is honestly and honorably seeking growth during an affordable housing crisis and while the industry is in a slump ought to be common sense.  Thus, Allen’s attacks on MHARR merits its own scrutiny. See that report, via the hot-linked text/image box linked below.  But once more, it also sparks further questions and concerns.

 

George F. Allen’s Unity Call for MHI, MHARR, and National Association of Manufactured Housing Community Owners (NAMHCO) Examined

 

There are evidence-based examples of how MHI leaders have directly and indirectly rewarded Allen and SECO, which he is associated with.

Now MH Village’s co-president, Darren Krolewski – who previously praised MHProNews for taking on the tougher issues – more recently has launched their own trade publication, which is of course their right.

DarrenKrolewskiPraisingMHProNewsDailyBusinessNewsMHProNews

 

MHVillage’s Krolewski dubbed their new publication MHInsider, the first three letters of which spell MHI. They are in fact a prominent supporter of MHI. They have given Allen and SECO a lift via their own platform. Attempt to find an article in MHInsider that is critical of MHI or Clayton Homes. There are better odds of winning the lottery than finding a critique of any MHI or Berkshire Hathaway MH industry company leader, or of those who are the ‘big boys’ at the Arlington, VA based trade group.

Equity LifeStyle Properties (ELS) Howard Walker arguably had a different view on what should be done about good and bad news than what MHInsider- or the flip-flopping George F.(F?) Allen – has taken. The late Walker, JD and longtime vice chairman and a right hand man to Sam Zell, ELS’ chairman, said this.

HowardWalkerPhotoELSViceChairmanManufacturedHomeCOmmunitiesManufacturedHousingInstituteExecCommitteeMemberQuoteTransparencyMHProNews

Thoughtful words, worth pondering. See the story, linked here.

 

While it was before the more recent fact checks, it was after other examples of concerns and issues being raised by MHProNews not found elsewhere in the industry’s trade media. So not unlike the prior comment of praise by Krolewski, Walker said the following for publication.

HowardWalkerJDELSViceChairmanPhotoManufacturedHouisngInstituteMHIExecuitiveCommitteeBoardMemberDailyBUisnessNewsMHProNews

The words of the late Howard Walker, JD, longtime ELS Vice Chairman, shared for publication with MHProNews.

 

MHProNews has previously cited the need for good business ethics, quoting the following as an example.

HumanitiesValueBuisnessCriticismDissentWhenGoingAlongGetAlongWhereWhistleblowersDiscouragedBadThingsHappenBusinssesImplodeMarthaCNussbaumPhotoQuote

Design by MHProNews.

 

This publication has also promoted the notion of getting to the root issues of the industry’s challenges, citing Zig Ziglar as follows.

ProblemSolvingZigZiglarFirstStepRecognizetheProblemExistsNextIsProblemOurResponsiblityProblemSolvingVeryImportantDailyBusinessNewsMHProNews

When the industry hit the start of its now 7-month slump, what have MHI’s leaders offered? Let’s look at some examples of ‘slogans vs. solutions.’

Last fall, when the corporate leaders of the trade group arguably knew that the downturn was underway, MHI produced a video promoting the association. The stills that follow are from that video and are provided under fair use guidelines for media.

 

MHIMembersChangingPerceptionOfManufacturedHousingMHILogoClaytonHomesLogoBerkshireHathawayLogoMHProNews

LeveragingCreationNewClassManufacturedHomesMHIDailyBusinessNewsMHProNews

 

The first slogan was a claim of changing the perception of the industry.  If it was for the better, then why aren’t sales growing?

The next MHI claims is one of momentum.  This was clearly not true, unless they meant momentum in reverse?  Instead, what the ‘new class of homes’ project arguably has done is divert lending that ought to be going to all manufactured homes under the Housing and Economic Recovery Act (HERA) of 2008 away from all manufactured homes, to only a few ‘select’ homes.  Here’s how MHARR President and CEO, Mark Weiss, JD, phrased it.

MarkWeissDTSQuoteManufacturedHousingAssocRegulatoryReformMHARRDailyBusinessNewsMHproNews

MHI also claimed in their video to be promoting the industry. That may be true in a technical, fig leaf, or posturing sort of sense. But the lack of growth in manufactured housing shipments itself undermines the credibility of the Arlington, VA based trade group’s claim.

Nevertheless, to prove their point, MHI cited statistics that were wildly arguably misleading at best, or demonstrably deceptive at worst.

 

ManufacturedHousingInstituteLogoMHIVideoStillMHIPromotionalClaims

MHARRshipmentProductionMarch2019ManufacturedHousingReportMHProNews

While MHI in their monthly shipment report doesn’t deny the decline, neither are they addressing the underlying causes, nor have they proposed a remedy via their messages to the industry. Why not?

 

When, MHProNews called out the deception, and offered MHI and their leaders an opportunity to respond, MHI hired an outside attorney who issued a series of letter threatening this publication and specifically mentioned our showing these still video images. Some of the claims that MHI’s outside attorney made are dealt with in a report linked below.

 

Lanham Act, Monopolistic Housing Institute, err, Manufactured Housing Institute, Legal Bullies, and You

 

So instead of offering solutions, MHI has offered slogans. Instead of addressing legitimate concerns, they have threatened this publication that their own leaders have previously praised as being pro-industry.  Perhaps more to the point, as the quote below reveals, their leaders ought to know that they have to address bad news, as Rolfe suggested in the quote cited above.  If they know they should, but fail to do so, what does that say about the trade group?  What concerns does that raise?

TimWilliams21stMortgageCEOthenMHIChairmanGoodArgumentsRefuteEveryStatisticsRespondEveryStoryPBSDIckErnstDailyBusinessNewsmHPronews

 

Such facts puts MHI in an awkward spot, perhaps because MHProNews has cited investor relations reports by publicly trade MHI member companies that also point out the obvious truth that the industry is underperforming.

3ErasMobileHomesManufacturedHomesManufacturedHousingImprovementActEraSkylineChampionShipmentProductionGraphicMHProNews

In 1998, manufactured homes (MH) outsold RVs by some 3 to 2. In 2017, RVs outsold MHs by some 5 to 1. RVs recovered far more quickly from 2008. The facts raise questions. One, is the effectiveness of MHI as the post-production or ‘umbrella’ association in the country. The other question is more sobering. Has Buffett-Berkshire “Moat” strategies kept manufactured home production at historically low levels to allow a few big boy brands to consolidate others at a discounted ‘value’ by MHI insiders?

 

MHLivingNews, NAMHCO, the Manufactured Housing Association for Regulatory Reform for years, even a former MHI president on his exit message have raised concerns about the failures of MHI.

FormerManufacturedHousingInstitutePresidentChrisStinebertManufacturedHomeOwnersUrbanInstituteYouMHLivingNews

https://www.manufacturedhomelivingnews.com/former-manufactured-housing-institute-president-manufactured-home-owners-urban-institute-and-you/

 

What has MHI done in a practical way to address the issues? At their recent Congress and Expo, they offered this slogan – “Let’s Keep Building.”

Slogans coupled with an action plan are fine. But where is MHI’s action plan? After all, they claim themselves to represent the interests of all segments of the industry, per the following from their website this morning. The commentary in the blue boxes are by MHProNews.

ManufacturedHousingInstituteMHILogoPhotoOnlyTradeOrganizationrepresentingallsegmentsfactorybuilthousing2019-05-14_0808

 

It should be noted that not all in the industry are sliding.  The article below is but one example of a firm that is bucking the trend.  That clearly implies that others can too.

 

 

Which begs the question, what the devil is going in with MHI’s so-called leadership?  What are the ‘powers that be’ behind MHI actually doing?

 

 

What’s Going On?

The largest corporate force behind MHI are the Warren Buffett led Berkshire Hathaway owned brands. A survey of troubling mainstream media reports about their behavior is linked below.

 

Clayton Homes, 21st Mortgage Corp, Vanderbilt Mortgage and Finance – Investor Lessons Learned

 

Before several of these episodes occurred, became known, or were coming into focus, Clayton, 21st, and MHI supported the Preserving Access to Manufactured Housing Act. In hindsight, was the entire bill a ruse? A head fake designed to consolidate the industry into ever fewer hands?

 

That’s what a more detailed report, fact-checks, and analysis linked below examines.

 

Rope-a-Dope – Preserving Access to Manufactured Housing Act, Mom, Dad, & You

 

 

There are already several federal investigations reportedly underway with respect to Clayton Homes, and their related lenders.  Former Clayton division president Joe Stegmayer, Cavco Industries are under an SEC subpoena, to name but a few of the publicly known federal investigations.

 

 

But sources tell MHProNews, that other investigations – federal and others – are also underway.

The fact-checks by MHLivingNews of the recent Last Week Tonight with John Oliver revealed that each firm the satirical, sharp hit on “Mobile Homes” made was on a MHI member connected firm.

 

Warren Buffett has been documented to have financially supported via so-called ‘dark money’ channels the organizations that attacked his own brands, and MHI firms.

 

 

It is with that backdrop that publisher L. A. ‘Tony’ Kovach takes a deeper dive into what in hindsight was arguably the true goal of the Preserving Access to Manufactured Housing Act. Tony Kovach raises the questions, have more than just antitrust laws been broken? Are possible fraud and RICO concerns valid?

That ‘deeper dive’ report is linked here.

It is far more pleasant being a cheer leader when one has something honest and honorable to cheer. But to fail to call out real problems is to betray readers who are looking for solutions, not slogans, slurs, slimes, or dodges.

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While surrogate writers for the powers that be – like Allen – purportedly use diversionary, smear or slime tactics vs. engaging in an actual – robust discussion or debate – MHProNews continues to follow the evidence, follow the money, and does fact checks to uncover what the underlying issues actually point toward.

 

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RickRobinsonSrVPGenCounselManufacturedHousingInstituteHUDSecBenCarsonMHILogoDailyBusinessNewsMHProNews

Robinson is a good speaker, good writer and likeable person, says MHProNews publisher, L. A. “Tony” Kovach. The questions that they duck and dodge will only continue until they are properly addressed in a transparent way, he opines.

LATonyKovachHenryFordQuotesPrettyPicturesAchieveGoalsDailyBusinessNewsProNews

Therefore, while Joe Stegmayer and George F. (F?) Allen are playing footsie – or MHInsider and the bulk of the others in the manufactured home industry’s trade media other than MHLivingNews or MHProNews ignore the vexing issues – or slime those such as MHARR for raising logical concerns and for offering solutions – our pro-growth platforms will continue to promote the good news about manufactured housing, while holding to account those who are behaving in problematic ways.

That’s today’s third look at “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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Related Reports:

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

Manufactured Home Community Case Study, UMH Properties, Lessons for Independent Community Owners, Investors

 

MHARR Calls on HUD Secretary to End Discriminatory And Exclusionary Zoning of HUD-Regulated Manufactured Homes

Uproar Over ELS’ Sam Zell Comments Continues

June 22nd, 2018 Comments off

 

SamZellP-ssyWordFlapVulgarityELSChairmanControversyDailyBusinessNewsMHProNews

Billionaire Sam Zell has been removed as a keynote speaker at a Mizuho Americas conference following a vulgar comment he made about women earlier this month,” reports Bloomberg.

 

I never promoted a woman because she was a woman,” Sam Zell, chairman of Equity Group Investments (EGI) and Equity LifeStyle Properties (ELS), said at the REITweek investor conference hosted by NAREIT in New York. ELS’ president is a woman, Margarette Nader, and an interview with her is at this link.

I never demoted a woman because she was a woman. My issue is what do you do, what do you produce, how do you interrelate to the rest of the business,” Zell said.

I don’t think there’s ever been a, ‘We gotta get more p—- on the block, OK?'” Zell said.

 

Zell Scrubbed from Presenters List

Zell was slated as the speaker during lunch at the Mizuho global REIT and real estate conference on June 27 at the Lotte New York Palace hotel, according to a May invitation that described him as a “prolific real estate entrepreneur,” said the Chicago Tribune.

Terry Holt, a representative for Zell at Chicago-based Equity Group Investments Inc., said he canceled his trip to New York due to a scheduling conflict. Zell spoke at the same conference last year,Bloomberg said, adding “A spokesperson for Mizuho Americas, an arm of Mizuho Financial Group Inc., wasn’t immediately available to comment.”

Zell infamously told an [female] Orlando Sentinel journalist “f— you!” when answering her questions about journalistic priorities in 2008, shortly after acquiring the paper, according to the Chicago Tribune.

Ironically, Zell has been publicizing a new book of his called, “Am I Being too Subtle? Straight Talk From a Business Rebel.”

AmIBeeingTooSubtleStraightTalkSamZellManufacturedHousingIndustryDailyBusinessNewsMHProNews

Zell’s Apology

In an email to attendees dated June 11, the conference organizers said Zell had reached out after the event to apologize for the remark and “express his regret” to the National Association of Real Estate Investment Trusts, or Nareit, community,” per Bloomberg.

But Zell’s name no longer appears on an updated schedule sent to clients in the past week, said the Chicago Tribune.

Holt said that Zell’s next speaking engagement is in the fall, but declined to identify the event.

Zell has previously addressed manufactured home industry community operators in a fall event.  Two articles published by MHProNews – at the links here and here – cover Zell’s statements about the communities industry, finance, and manufactured housing in depth.  Zell’s statements cited by MHProNews were all confirmed by a senior ELS official.

 

Testing the Limits

All my life I’ve wanted to test my limits. Whatever goals you set, you need to constantly readjust them so that at no time do you reach your goals before your time is up. When it’s all said and done, the petroleum of the real estate industry has always been capital,” said Zell per QuoteWise.

 

Zell appeared earlier this month on CNBC, where he spoke about the economy, tax reform and investing. That video with the colorful mogul is posted above.

Several media outlets covering the p-word bruhaha have noted the timing of the vulgarity, given the increased sensitivity due to the #MeToo movement.

ELS is a stock tracked by the Daily Business News each evening, along with more than a dozen other industry equities. Last night’s closing numbers on ELS’ stock is linked here. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Related Reports:

Sam Zell’s Equity Lifestyle Properties (ELS) Unique New Score

ELS’ Sam Zell – Compliance Costs Destroys Smaller Businesses = Consolidation

 

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Warren Buffett Success Secret$, Video Interview Including “The Moat”

March 16th, 2018 Comments off

WarrenBuffettSuccessSecret$IncludingTheMoatVideoIntervew$DailyBusinessNewsMHProNews

Take what Kevin Clayton said in the exclusive video and reports previously produced by the Daily Business News.

 

Marry it up with what Warren Buffett himself has said in interviews and comments, like those shown in the under 3 minute video below

What you discover is a hand-in-glove fit.

The new Warren Buffett video posted focuses on his self-described ‘secrets’ of success.  These are his words – hiding in plain sight – that has made Buffett successful in manufactured housing, and in other fields too.

 

One could sum it up as The Nation did in their recent report on Buffett, that included insights on Clayton Homes, linked below.

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

The video with Buffett is not what some would call sexy, but it does provide powerful insightful.  ## (News, analysis, and commentary.)

Related:

Kevin Clayton Interview-Warren Buffett’s Berkshire Hathaway, Clayton Homes CEO

Warren Buffett, “the Moat,” Manufactured Housing, Berkshire Hathaway, Clayton Homes, 21st Mortgage, Vanderbilt, Wells Fargo, NAI…

“Follow the Money” – Controversial Urban Institute Report on Manufactured Housing

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Sun Communities Announces Q3 Results

November 5th, 2016 Comments off

suncommunitiesquarterlyresults-creditssunmhpronews-manufacturedhousingindustrydailybusinessnewsmhpronewsSun Communities, Inc. (NYSE: SUI) reported its Q3 2016 results on November 1, 2016.

For the quarter ending September 30, 2016, total revenues increased $64.3 million, or 34.7 percent, to $249.7 million compared to $185.4 million for the same period in 2015.

Net income available was $18.9 million, or $0.27 per diluted common share, as compared to $28.8 million, or $0.53 per diluted common share, for the same period in 2015.

For the nine months ended September 30, 2016, total revenues increased $108.6 million, or 21.4 percent, to $615.1 million compared to $506.5 million for the same period in 2015. Net income available for the nine months ended September 30, 2016 was $19.0 million, or $0.30 per diluted common share, as compared to $47.9 million, or $0.90 per diluted common share, for the same period in 2015.

SunCommunitiesQ3Earningsbalancesheet-postedtothedailybusinessnewsmhpronewsmhlivingnews

Click here or on the photo for Sun Communities full Q3 2016 report.

Equity analysts provided earnings per share (EPS) guidance of $0.89 – $0.91 for the next quarter.

Our strong third quarter results demonstrate the consistent growth profile of our portfolio. With home sales solidly ahead of last year in both the third quarter and year to date, the ongoing demand for manufactured housing in our high quality communities is clearly evident,” said Gary A. Shiffman, Chairman and CEO.

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Sun Communities CEO Gary Shiffman, photo credit: Glenn Triest.

I am pleased with the integration of the Carefree assets, which are performing ahead of expectations, as we employ our experience and expertise as a consolidator in this space. With both site expansion opportunities, and selective acquisitions such as the four communities purchased during and subsequent to the quarter, we continue to be well-positioned to drive ongoing growth across our platform.”

Other highlights from the earnings call:

  • Home sales increased by 43.0 percent as compared to the third quarter of 2015.
  • Revenue producing sites increased by 292 sites for the quarter bringing total portfolio occupancy to 96.2 percent, up 250 basis points from the third quarter of 2015.
suncommunitiesq3earningsircover-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Sun Communities.

As regular Daily Business News readers know, Sun owns and operates some 338 manufactured home and recreational vehicle communities located in 29 states throughout of the United States and Ontario, Canada. Sun Communities’ portfolio consists of approximately 117,000 developed sites. The firm is one of the largest portfolios of manufactured home communities in the United States.

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Sun is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

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RC Williams, for Daily Business News, MHProNews.

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

Clayton Bank named #1 Community Bank in the Nation by ICBA’s Independent Banker

June 7th, 2015 Comments off

Clayton-Bank-Ranked-#1-By-Independent-Community-Bankers-of-America-posted-manufactured-housing-Daily-Business-News-MHProNews-Knoxville, TN – – Clayton Bank and Trust has been named the #1 Community Bank in the Nation by the ICBA Independent Banker, the award winning magazine of the Independent Bankers Association. The list published annually covers banks in the $1 Billion assets and Sub S category annually as the Best of the Best.

Travis Edmondson, Chief Executive Officer, said, “This exciting recognition confirms the quality of the staff – and the health of the economic climate in the Tennessee markets served by Clayton.”

President, Kevin Kimzey, stated, “The team at Clayton Bank recognized the economic downturn early and made adjustments which facilitated an early recovery by individual, family and business clients.  Accordingly in each of the last four years record performance has been realized by Clayton Bank.”

“I can’t say enough about the Bank’s staff and management – and the loyal clients who had the foresight to adjust and effectively adapt to the changing economic climate,” said Chairman, Jim Clayton, who added, “this award goes to the Bank’s outstanding clients – and staff.”

As informed MHProNews  readers know, Clayton Bank devotes a signficant portion of its lending to the manufactured housing industry.

The Clayton Bank and Trust holding company is a $1.3 billion financial institution with 29 branches across Tennessee.  Banking services include a full range of business, consumer, residential, and Trust services.  For the complete list of the nation’s Top 25 best performing community banks in that categoryclick here.

About Clayton Banks: Clayton Bank, founded in 1899 at Henderson, is one of the highest ranked banks in the nation based on ROA, Charge-offs, Efficiency, NIM, and Loan Growth. With assets of $1.3 Billion, the holding company, Clayton Bancorp, is based in Knoxville and owns Clayton Bank and Trust (100% – Knoxville), American City Bank (100% – Tullahoma), and Bank of Camden (50% – Camden) and operates 29 banking centers across Tennessee.  The holding company is owned by Jim Clayton, and the staff, utilizing an ESOP structure – making every team member an owner.  The banks are consistently recognized for outstanding client satisfaction, strong capital position, superior compliance metrics, and top rated financial performance. For more information on the Clayton Banks, visit: Clayton Bank;American City Bank; and Bank of Camden.

About ICBA: The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks, is dedicated exclusively to representing the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. 

CONTACT:  Travis Edmondson, CEO, Travis.Edmondson@ClaytonBank.com, (865) 522-2930 www.ClaytonBank.com

(Image Credits: Clayton Bank and ICBA)

RV/MH Hall of Fame Challenge Advances

November 10th, 2014 Comments off

RV-MH-Hall-of-Fame-posted-on-mhpronews-comDarryl Searer, chairman and president of the RV/MH Hall of Fame tells MHProNews he’s encouraged by early support of the “Kevin Clayton Debt Elimination Challenge” fund raising campaign.  The money being raised and/or pledged is to eliminate remain debts on the Hall.

Searer said, “Our goal is to raise $1 million in this campaign over the next 3 to 5 years.  These new pledges, plus Kevin Clayton’s initial pledge of $200,000, means that we are more than 35% there in only a few weeks since the campaign was announced.”  

Kevin Clayton’s $200,000 in pledges, plus others made by Gary McDaniel of Yes! Communities, Joe Stegmayer of Cavco Industries, Barry Cole, MH Insurance Services, Debra Pizer of Zeman Homes, Senco Brands and Fairmont Homes round out the top initial pledges. To see the breakdown of donations/pledges and more details, click here. ##

(Photo Credit: RV/MH Hall of Fame)

(To learn more about the RV/MH Hall of Fame, please click here.)

 

Manufactured Housing Institute announces Executive Committee election results

September 15th, 2014 Comments off

mhi-logoThe Manufactured Housing Institute (MHI) has announced the election of their new officers, which took place during their annual meeting at Scottsdale, AZ 9-15-2014.  

The executive committee officers are; Nathan Smith (SSK Communities), Chairman.   Tim Williams (21st Mortgage), Vice Chairman.  Howard Walker (ELS), Treasurer.  Kevin Clayton (Clayton Homes), Secretary.
The annual meeting included division meetings, with those officers expected to be announced later this week. ##
(Image credit: MHI logo)

The Big 5 Point 0 Rapidly Approaching

September 9th, 2014 Comments off

 5th-anniversary-image-credit=fotosearch-posted-daily-business-news-mhmsm-com-In anticipation of the 5th anniversary celebration of MHProNew’s service to the factory-built housing industry, Howard Walker, Vice-Chairman of Equity Lifestyle Properties (ELS), sent this message with his okay to quote:

The emergence of Tony Kovach’s group of publications has brought a new standard of professionalism to the industry. The thorough and unbiased reporting fills the vacuum that has existed for too long. It’s been refreshing to have these communications serving the manufactured housing industry, and here’s to their continued success.

Barry Cole has been serving as the Chairman of the RV MH Hall of Fame for many years and was recently himself inducted into the Hall as an honoree. Cole is one of the growing number of industry leaders and professionals who’ve sent a message of congratulations for the writers and team members who have made MHProNews – and the recently celebrated first anniversary of the new ManufacturedHomeLivingNews.com – the leading publications of their kind in manufactured and modular housing. Cole said in part:

I enjoy receiving MHProNews and as I have told you before  – everyone I know in MH reads your pub.  Continue on forever with this great news worthy service.

Joe Kelly, who has lead the Iowa Manufactured Housing Association for some three decades, said, “Congratulations to Tony and his staff for five years of excellent work with MHProNews and other MH specific publications! …MHProNews is like a well-supplied buffet line…In checking them out, you’ll always find an article or an opinion piece of interest: something you need to know to become a more informed professional…” 

Kelly’s complete message in support and praise of MHProNews and MHLivingNews.com is found linked here. Other such messages are in hand and coming in, which will be published in the upcoming October issue of MHProNews.com as a featured article. ##

1-mhpronews-logo-manufactured-housing-professional-news

(Editor’s note: Update! We are getting in a daily stream of comments from CEOs, owners, managers, state executives plus industry rank and file.

Your feedback – and that from MHPro readers like you – is welcome and encouraged, please send them with the subject line, 5th Anniversary Celebration to this email address, linked here, with our sincere thanks. We appreciate the opportunity to serve manufactured housing professionals, investors, researchers and all in this fashion…  

mhpronews-pageview-graphic-source-webalizer-posted-mhmsm-com1-

The 2,028,336 page views in July 2014 is like 56,342 thirty two page magazines being read cover to cover.  This means we provide the content you and others crave!  Industry Pros want to Know and Grow.

Our sincere thanks to the dozens of experts, writers and sponsors who’ve made MHProNews possible, as well as the most widely read publication of its kind in manufactured housing history.)

(5th anniversary image credit: fotosearch, logo: MHProNews) 

“What Recovery?” Unemployed ask Federal Reserve at posh Jackson Hole conference

August 28th, 2014 Comments off

 

Fischer, vice chairman of the Federal Reserve System, speaks with a demonstrator at the Jackson Hole Economic Policy Symposium in Jackson Hole

Stanley Fischer (2nd R), vice chairman of the Federal Reserve System, speaks with demonstrator Reginald Rounds from Ferguson, Missouri at the Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming August 22, 2014. REUTERS/David Stubbs

Unemployment is a factor in home purchases that industry leaders such as Cavco Industries Chairman and CEO, Joe Stegmayer, cites as a reason for the current level of home buying. While millions have reportedly given up on finding work, others have taken their case public, with a recent example at the Federal Reserve’s Jackson Hole WY conference, where Reuters tells MHProNews that Reginald Rounds and others called for action to create economic growth and jobs.

Rounds is a St. Louis area resident, 57 and says he is trained in green technology, but can’t find a job. “From the world where I reside, there is no recovery. We need a boost. We need a jump start,” said Rounds. “The key is jobs creation.” 

Rounds was one of 10 who made the trip to protest, part of a 70 organization coalition, that also released an open letter to Federal Reserve officials urging them to hold off on interest rate hikes until wages and jobs showed gains.

The 10 activists managed face time with senior officials. On Thursday, they spoke conference host Esther George for 2 hours. George is the President of the Kansas City Federal Reserve Bank. On Friday, Fed Vice Chairman Stanley Fischer stepped out of a meeting to spend ten minutes to listen to the pleas of Rounds and his associates.

As regular Daily Business News readers know, Rand Ghayad recently raised the topic of Dodd-Frank’s role in a Huffington Post OpEd, for more details, click here. The Collingwood Group’s Tim Rood recently pointed out on CNBC that current dynamics were keeping some 5 to 6 million home buyers on the sidelines. In factory built housing, the Manufactured Housing Institute (MHI) says that every home built represents one new job, so if Rood is correct, 5 to 6 million jobs could be added to the work force by having a more pro-housing and less restrictive regulations from the Consumer Financial Protection Bureau. ##

(Photo Credit: Reuters/David Stubbs)

Invitation and 2014 Louisville Manufactured Housing Show Updates

December 10th, 2013 Comments off

H:\1 SK MHMSM\1 DBN\kmhi-ky-manufactured-housing-institute-reception-mixer-2014-louisville-show-posted-daily-business-news-mhpronews-com-.pngPre-registrations for the 2014 Louisville Manufactured Housing Show are up over 50% over the same time frame as last year. So state the facts supplied by Show Ways Unlimited, who manage the show for the Midwest Manufactured Housing Federation (MMHF).

Show Chairman Ron Thomas, Sr. reports that in 2013, “Louisville in 2013 we had 1370 builder/developers, retailers, community and owners/operators, representing 573 different companies who attended.”

If that 50% increase in registrations for the industry’s largest event trend holds, that would mean that over 2,000 attendees would arrive in Louisville in 2014. Combined with exhibitors, it could yield a total attendance of over 3,000, compared to some 830 that go to the Manufactured Housing Institute’s (MHI’s) fine annual Congress and Expo in Las Vegas, Nevada.

“It is an interesting comparison, but frankly it’s not exactly apples to apples.” said L. A. “Tony” Kovach, industry veteran and point man for the online promotion for the Louisville Show.

“Louisville will have 48 new model homes on display.” Kovach explained. “These decorated models will include manufactured homes and modular homes. MHC owner/operators will find Community Series Homes (CSH) on display. Retailers and builder/developers will see residential style and entry level multi-sectional and single section homes. MHI’s annual Vegas event is terrific, I love to go there too. Both Louisville and MHI’s Congress and Expo (C&E) have educational seminars and booths. MHI’s C&E by contrast has more educational events. But having homes on display ads a very different dynamic to what happens in the climate controlled Kentucky Expo Center, where the all-indoor 2014 Louisville Show is held.”

Speaking of MHI, Kovach added that the MHI staff – including their NCC division – will be very visible at Louisville in 2014. “Dick Jennison’s and his colleagues will be co-hosting a mixer with the Kentucky Manufactured Housing Institute (KMHI). Betty Whittaker does a great job with that and combined with MHI’s presence, it ought to be terrific.”

The Manufactured Housing Association for Regulatory Reform (MHARR) members often have a private meeting during the Show.

“Norris Homes made the decision to display at the 2012 Louisville Home show after being absent for several years.” said Gary Boerner. “I can honestly say we will not be absent again. The dealer traffic was great and we were able to see and talk to prospects we might have never been exposed to.  It turned out to be a great decision on our part. We are looking forward to another successful show in 2014.”

Skyline Homes’ Terry Decio indicated they will display 4 homes in the KEC’s East Wing, next to the “Show Me the Money!” Seminar room. Enthusiasm is high, with sold out show space and the large boost in early registrations.

“The Louisville Manufactured Housing Show is an excellent showcase…With many networking opportunities and a well laid out exhibitor area, we look forward to the 2014 event as an opportunity to grow our manufactured housing business.” said Sherrie Clevenger, NADAguides. ##

For more information,

please see Show Chairman, Ron Thomas Sr.’s report:

http://www.MHProNews.com/home/featured-articles/december-2013/138-general-manufactured-housing-industry-topics/6692-why-will-the-louisville-2014-show-you-the-money

And/Or go to:

http://www.LouisvilleShow.com for a complete list of free business building and finance seminars, networking events, exhibitors/manufacturers and KMHI-MHI mixer.

Interviews we’ve done that mention the Louisville Show include:

A Cup of Coffee with…Terry Decio

A Cup of Coffee with…Wally Comer

A Cup of Coffee with…Barry Noffsinger

A Cup of Coffee with…Dick Ernst