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Posts Tagged ‘champion homebuilders’

Legal Maneuvers Continuing in Skyline Corp, Champion Homebuilders Merger Case

April 20th, 2018 Comments off

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Kevin Sowers with Aplomb Capital is a Skyline stockholder, who previously told the Daily Business News that the Monteverde & Associates PC matter was a form of “ambulance chasing.”

 

Sowers has been critical of Skyline in the past, but favors this merger with Champion.  That initial report on the pending ‘class action’ is linked below.

Skyline – Champion Merger Suit, Real ‘Class Action,’ or “Ambulance Chaser” Legal Shakedown?

In the latest publicized maneuver, Michael Daniels, General Manager of the Shareholders Foundation said in a release to MHProNews that,An investigation was announced for investors, who currently hold shares of Skyline Corporation (NYSE: SKY), over the takeover of Skyline Corporation by Champion Enterprises Holdings.”

While merits of the matter will be debated by professionals, what it seems to be accomplishing is a slowdown for Champion and Skyline.

Per the Shareholders Foundation, “On January 5, 2018, Skyline Corporation (“Skyline”) (AMEX:SKY) and Champion Enterprises Holdings, LLC (“Champion”), the parent company of Champion Home Builders, Inc., today announced that they have entered into a definitive agreement for the two companies to combine their operations. Under the terms of the agreement, Champion will contribute 100% of the shares of its operating subsidiaries, Champion Home Builders, Inc. and CHB International B.V., to Skyline.”

According to their website, “The Shareholders Foundation is a portfolio monitoring service for institutional and individual investors. We offer professional portfolio, legal monitoring, and custom reporting for institutional investors including settlement claim filing services. The Shareholders Foundation also offers portfolio tools and resources at no cost to individual investors.”

However, given that Art Decio, Skyline’s largest shareholder, has already agreed to vote in favor of and fully support the transaction, the investigation concerns whether the offer is unfair to NYSE: SKY stockholders,” said their release. “More specifically, the investigation concerns whether the Skyline Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.”

Skyline Corporation reported that its Total Revenue rose from $211.77 million for the 12 months period that ended on May 31, 2016 to $236.50 million for the 12 months period that ended on May 31, 2017,” according to their release.

Skyline Corp, Champion Homebuilders Conference Call Presentation Facts, Figures, Forward-Looking Statements, Planned Merger Detail$

The firm bills itself as a “complete class action monitoring service for individual, professional, institutional investors and custodians.

The closing numbers today on Skyline’s stock is part of the market report, linked here. ## (News, analysis, and commentary.)

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Skyline – Champion Merger Suit, Real ‘Class Action,’ or “Ambulance Chaser” Legal Shakedown?

March 10th, 2018 Comments off

SkylineCorpSKYLogoChampionHomebuildersLogoMonteverdeAssocLogoDailyBusinessNewsMHProNews

 

Monteverde & Associates PC are headquartered in the Empire State Building in New York City, NY. Their press release and  engagement letter says they have thoroughly investigated the Skyline Homes (SKY) and Champion Homes merger/acquisition.

 

Per Monteverde press release, they are investigating “potential securities laws violations and/or breaches of fiduciary duties in connection with the Share Contribution & Exchange Agreement with Champion Enterprises Holdings, LLC for its factory-built housing company (the “Exchange Agreement”).”

 

Skyline Stockholder Reacts

Kevin Sowers with Aplomb Capital is a Skyline stockholder.

He is also a fierce critic of Skyline’s management. In that light, it’s worth noting that Sowers is dismissive of this legal action.

To understand Sowers’ deep interest in the issue, he researched and published information provided to MHProNews in 2017 about his concerns over Skyline. He’s also, per sources, engaged others – including fellow Skyline shareholders – in an effort to get Skyline Corporation to do a turnaround and/or merge with anyone that, in Sowers’ view, could advance Skyline.

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Sample pages from Aplomb’s presentation of concerns over Skyline Corp’s management and BOD.

 

As Sowers described his desire to MHProNews last year as, an institutional shareholder trying to force the company to make some changes. Presumably, the competitors, dealers, community operators would have some interest,” in his research and views as a SKY stock holder.

That research by Sowers’ Aplomb, is linked here as a download.  It’s interesting to note that Sowers’ 49 page presentation opens with a Warren Buffett quote.

A Skyline management reacted off-the-record to the Apolmb concerns at that time with, I understand his frustration if he bought in as the stock was raising dramatically last year.  He also knows that I can only tell him things that are already in the public domain and the things he wants to know I can’t tell him for risk of violating SEC Reg FD.”

That Skyline source added, “Is he asking you to publish this in your newsletter?  I am available to these guys whenever they call, there just isn’t much we can tell them that we haven’t publicly disclose[d].”

MHProNews did not publish Sowers research at that time, and takes no editorial position on the issues raised in this report.

ApolmbCapitalSkylineCorpPresentationManufacturedHousingIndustryDailyBusinessNewsMHProNews595

All told, Kevin Sowers power point contains some 49 pages, including references to their source materials for his research. To download the entire presentation, click here.

 

“Ambulance Chaser”

Sowers tells the Daily Business News that Monteverde’s announcement “is nothing but an ambulance chaser looking for some money.”

Sowers says you can pull up any merger/buyout between two companies and you’ll “see a handful of lawsuits filed.”

Sowers says “the hope [of the suit] is that the companies will pay off the law firms to go away.”  He cites examples outside of manufactured housing. “BBRG…it’s a restaurant, was bought this morning, already a few law firms have filed suit “the company wronged shareholders by selling too cheaply.” “ESRX…same thing…lawsuits…par for the course.”

Perhaps due to non-disclosure agreements, Skyline and Champion management which were contacted for this report, have not yet commented on the allegations being raised by Monteverde.

 

The NYC “Super Lawyers”

In their release, the Empire State based firm touts its credentials in the following fashion.

Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing.  Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.  Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field.  He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.”

Their standard engagement letter was provided to MHProNews, and is available as a download, linked here.

Per their engagement letter, the handle such cases on contingency, which suggests both confidence and expertise, in many situations.

 

Shareholder View

I’m very bulled up on the merger,” Sowers’ said in a recent email to MHProNews. “Skyline management was garbage and company was too small to compete. Now the employees and shareholders win as you get a legitimate #2 player. [T]he cost savings are going to be better than they have laid out…plus all the inflation in lumber and labor act as a price umbrella since it hurts site built more than MH.”

Industry readers and investors should note that Skyline and Champion both have solid Better Business Bureau (BBB) ratings.

The announcement of the class action investigation appeared to have no noteworthy impact on Skyline stocks, which ticked up both Thursday and Friday.  Yesterday’s closing numbers, are linked as part of the broader markets report, linked here.

Cases such as this often disappear from the news, because a settlement is reached, and non-discloses are signed, according to guidance from legal experts tell MHProNews. But if more hits the wires or added insights are learned, this story may be updated. Stay tuned.

We Provide, You Decide.” © ## (News, analysis, and commentary.)

Related:

Skyline Corp, Champion Homebuilders Conference Call Presentation Facts, Figures, Forward-Looking Statements, Planned Merger Detail$

What’s Happened Since the Skyline (SKY) Champion Homes Deal Was Announced? Plus MH Market Update$

Skyline and Champion 30 Day Snapshot, Plus Manufactured Housing Market UPdate$

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State Association Tips Heat Up Ducker Worldwide Controversies, Manufactured Housing Industry Report

February 19th, 2018 Comments off
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Photo credits, Ducker Worldwide, and AHA.

Christopher C. Fisher, managing principal of Ducker Worldwide, spoke at length…about marketing possibilities for the manufactured housing industry. His company has undertaken an extensive study of what millennials and baby boomers need and how the industry can attract those customers,” according to a state association source to MHProNews.

 

He [Fisher] went through an extensive array of finding and statistics, saying our industry is in line to attract 2.7 millennials and nearly 1 million baby boomers. The boomers want to downsize to a smaller home with a single floor and a reduced payment,” per that source to the Daily Business News.

Both groups [millennials, boomers] want homes that includes garages, energy efficiency and have pitched roofs. Upgraded exteriors also are important. “They would find value and pay for an attached garage,” Fisher said. “The current product does not close the gap on what we want to do.”

 

Thewe” from Fisher here refers to the Manufactured Housing Institute (MHI), who funded the research.  Those top lines are rather similar to what Barry Noffsinger said in a 16 minute video seminar, shown below.

But Credit Human’s Noffsinger – an MHI member company – did not make Fisher’s final caveat,  “The current product does not close the gap on what we want to do,” why?  Perhaps because Noffsinger and others know manufactured home retailers and communities that are already closing sales using HUD Code manufactured homes sold prior to the MHI paid for research.

 

 

What the industry needs to do is secure better regulatory standards; establish and improve financial alternatives; translate new exterior and other change concepts being proposed by industry leaders into common industry offers; and find a way to get this new product to market,” said Fisher to MHI meeting attendees.

It’s a problematic close to a presentation, according to another now-former MHI member who still does business with MHI companies. Per that source, there was no stunning new revelation, much of the material the Ducker presentation was covered by other third party research. And for them to essential sa there was no plan i.e.: Fisher’s “and find a way to get this new product to market,” was revealing.

A MHEC member has blasted the plan and raised red flags for independent producers and others, see that, linked below.

Secretive “NEW” Class of Manufactured Housing Raises Serious Concerns

Louisville Show attendees recall that Jennison cancelled that presentation “at the last minute” per a source with Show Ways, after MHProNews encouraged industry members at Louisville to ask Jennison 12 questions.  The photo below revealed that Jennison was on the show floor at the time his scheduled presentation was supposed to take place.

 

As another association executive said, if they wanted to publicize their Ducker plan, why doesn’t MHI take every opportunity – including engagement with MHProNews to – do so?

The AHA take On MHI Ducker Plan

Suzanne Felber

Suzanne Felber, AHA.

American Housing Advocates (AHA) was founded by Suzanne Felber and Bruce Savage, according to their own website.

Felber is well known as an “MHI surrogate,” who happily promotes whatever’s the MHI party line is. Felber and her partner reportedly do contrast work for MHI, and for some MHI member producers too.

 

AHA said that the Ducker initiative, “will research underserved areas that can be vital to the growth of the industry: millennials, immigrants, and step-down baby boomers.

MHI stated that the initiative would be led by the following industry leaders:

 

Keith Anderson, President of Champion Home Builders”

Kevin Clayton, President and CEO of Clayton Homes

Jayar Daily, Chief Operations Officer of American Homestar Corporation

Richard Florea, CEO and President of Skyline Corporation

Joe Stegmayer, Chairman & CEO of Cavco Industries

Dick Jennison, President & CEO of MHI

Christopher C. Fisher, Managing Principal of Ducker Worldwide

 

Private “Club” within MHI?

According to a source at Skyline Homes, Florea had to ask if he could “join their club” meaning the producers who are part of this MHI-Ducker Worldwide so-called  “initiative,” which apparently leaves most other industry producers out in the cold, if this plan is advanced with regulators at HUD, or with the GSEs. Thus the concerns by the Manufactured Housing Association for Regulatory Reform (MHARR).

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Marty Lavin, JD.

Daily Business News readers recall how MHI award winner, Marty Lavin torched the MHI initiative, as it failed to address underlying issues that caused the industry’s relatively low production levels.

The Question for Industry Professionals?

The question for Industry professionals is this. What has MHI accomplished since Richard “Dick” Jennison become president and CEO that merits confidence? Where are other successes, that back up the reason to be confident in this project?

Or is this another dead-end/head fake which would lead to more companies. Including rival producers, to be put out of business?

Another state association source said, ‘We’ve hired outside [of the industry] consultants like them [Ducker Worldwide] before too,’ said that source to the Daily Business News. And ‘we learned the hard way it was costly, and they always told you what those paying for the study wanted to hear.’

As one source said, so those that failed to:

  • head of the SAFE Act,
  • or modify Dodd-Frank,
  • or stop Pam Danner’s overreaches at HUD,
  • or who routinely fail to address bad news when it hits the media,

are now to be trusted to fix the industry’s relatively low production levels with a plan led by the same people who allowed these challenges to occur in the first place?

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Skyline Corp, Champion Homebuilders Conference Call Presentation Facts, Figures, Forward-Looking Statements, Planned Merger Detail$

January 25th, 2018 Comments off

BusinessCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018

A few minutes after 9 AM ET, the previously announced conference call between Skyline and Champion took place.

The call lasted about 30 minutes.

There was no Q & A after their presentation.

The presenters generally followed the information provided in their power point.  The meat of the presentation, minus the typical SEC disclaimers, is below.

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FavorableDemographicTrendsBusinessCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p5

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OverviewSkylineCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p8ExpectedEnhancementShareholderValueCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p9

 

CombinationMarketLeadingPlatformsValueCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p10

SynergiesMightYield10-15Min24MonthsValueCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p11

HighlyAttractiveCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p12

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AdjustedEBIDAChampionCombinationSkylineChampionConferenceCallPowerPointDailyBusinessNewsMHProNews1.25.2018p14

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Note: some of the screen captures were cropped, but the data remains their same.

A transcript of the call is expected.

Previous Daily Business News reports on this planned merger are shown below.

What’s Happened Since the Skyline (SKY) Champion Homes Deal Was Announced? Plus MH Market Update$

Among the points made verbally where their anticipation of further M&A (mergers and acquisitions) opportunities.  They also pointed to more capital coming into the industry, specifically mentioning Fannie Mae and Freddie Mac beginning their FHFA approved start of chattel lending.

Last night’s closing numbers on Skyline, along with other manufactured home industry connected stocks, can be found at this link here.

MHProNews will continue to monitor this and other such developments for the industry.  ## (News, analysis, and commentary.)

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

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Skyline, Champion Announce Thursday 1.25.2018, Conference Call – Details, & Insights Beyond their Press Release

January 24th, 2018 Comments off

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In a press release to the Daily Business News and others in media, Skyline Corporation and Champion Home Builder’s have announced a joint conference call scheduled for 1.25.2018.

Before getting into their press release about the conference call and other details, sources tell MHProNews that Keith Anderson, president of Champion, told several attendees at the recent Louisville Manufactured Housing Show that he didn’t get “much pushback” from Clayton Homes after their recent announcement.

Another informed source told MHProNews that fairly typical non-disclosure agreements (NDA) exist between Skyline and Champion regarding their pending deal.

What’s Happened Since the Skyline (SKY) Champion Homes Deal Was Announced? Plus MH Market Update$

There are certainly contingencies, per sources, which could cause their announced deal not to go through. Therefore, it is “Not yet a done deal.”

The stock rocked north upon the initial news, but has since retreated, as last night’s closing numbers reveal.  How much of that retreat by investors may be due to whispers surrounding the deal is not entirely clear.

 

The Bain Connection

Part of the release references Champion’s connections to Bain Capital.  For those who may not recall, “The company [Bain Capital], and its actions during its first 15 years, became the subject of political and media scrutiny as a result of co-founder Mitt Romney’s later political career, especially his 2012 presidential campaign,” states Wikipedia.

That same source said, “Bain Capital is a global alternative investment firm based in Boston, Massachusetts. It specializes in private equityventure capital and credit products. Bain Capital invests across a range of industry sectors and geographic regions. As of June 2014, the firm managed more than $75 billion of investor capital across its various investment platforms.”

The firm [Bain] was founded in 1984 by partners from the consulting firm Bain & Company.[2] Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino’s Pizza, DoubleClick, Dunkin’ Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, Sealy, Sports Authority, Staples, Toys “R” Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.”

As of 2014, Bain Capital employs more than 900 people.[citation needed] Bain Capital is headquartered at the 200 Clarendon Street in Boston, Massachusetts with additional offices in New York City, Chicago, Palo Alto, San Francisco, Dublin, London, Luxembourg, Munich, Hong Kong, Shanghai, Mumbai, Tokyo and Melbourne.”

 

Centerbridge

Centerbridge Partners,” says Wikipedia, “is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities.

The firm manages over $25 billion of assets[1] and is based in New York City, with an additional office in London. The firm invests in both control (private equity and public debt with a “loan-to-own” strategy) and non-control (public market debt, public market equities, and other publicly traded securities) opportunities.

The firm [2] was founded in 2005 by Jeffrey Aronson and Mark Gallogly.”

 

MAK

MAK Capital was also cited by the Skyline/Cision release as an investor in Champion.

Per Bloomberg, “MAK Capital One, LLC is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It manages separate client focused portfolios. The firm invests in the public equity, fixed income, and alternative investment markets. It also employs event driven investing to make its investments. MAK Capital One, LLC was founded in May 2002 and is based in New York City.”

According to the MAK website, MAK Partners’ aim is to successfully help define and implement customized strategies for investing in US and European commercial and residential real estate.”

 

Per The Skyline/Cision Release…

ELKHART, Ind., Skyline Corporation (“Skyline” or the “Company”) will hold a conference call at 9:00 am Eastern Time on Thursday, January 25, 2018 to discuss the previously announced definitive agreement to combine operations with Champion Enterprises Holdings, LLC (“Champion”). 

Members of executive management of Champion also will participate in the conference call. 

To participate in the live conference call, dial 1-877-407-0784 (U.S. and Canada) or 1-201-689-8560 (International).  Presentation slides to accompany the call will be available,” stated their release.

Quoting verbatim the balance of their release…

About Skyline Corporation:

Skyline Corporation and its consolidated subsidiaries design, produce, and market manufactured housing, modular housing, and park models to independent dealers, developers, campgrounds, and manufactured housing communities located throughout the United States and Canada. The company has eight manufacturing facilities in seven states. Skyline Corporation was originally incorporated in Indiana in 1959, as successor to a business founded in 1951, and is one of the largest producers of manufactured and modular housing in the United States. For more information, visit http://www.skylinecorp.com.

About Champion Enterprises Holdings, LLC:

Champion Enterprises Holdings, LLC was formed in 2010 as the parent company of Champion Home Builders, Inc. which was founded in 1953.  Champion Home Builders specializes in a wide variety of manufactured and modular homes, park-model RVs and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. The company operates 28 manufacturing facilities throughout North America. Additionally, Champion operates a factory-direct retail business, Titan Factory Direct, with 21 retail locations spanning the southern U.S., and Star Fleet Trucking, providing transportation services to the manufactured housing industry from 10 dispatch locations across the United States. Champion is majority owned by funds affiliated with Bain Capital Credit (https://www.baincapitalcredit.com), Centerbridge Partners, L.P. (https://www.centerbridge.com), and MAK Capital.  For more information, visit https://www.championhomes.com.

Forward-Looking Statements

Except for historical information contained herein, this document expresses “forward-looking statements” which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995, as amended. Such matters include forward-looking statements regarding the prospective effects and timing of the proposed share contribution and exchange transaction with Champion (the “Exchange”).  Generally, the words “believe,” “expect,” “intend,” “estimate,” “project,” “will,” and similar expressions indicate forward-looking statements.  Those statements, including statements, projections, estimates, or assumptions concerning future events or performance, and other statements that are other than statements of historical fact, are subject to material risks and uncertainties.  Skyline cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.  Skyline may make other written or oral forward-looking statements from time to time.  Readers are advised that various important factors could cause Skyline’s actual results or circumstances for future periods to differ materially from those anticipated or projected in such forward-looking statements.  Such factors, among others, include, but are not limited to: potential failure to obtain shareholder approval of the Exchange-related matters to be submitted to Skyline’s shareholders (the “Company Shareholder Approval Matters”); potential failure to obtain regulatory approval for the Exchange or to satisfy other conditions to the consummation of the Exchange on the proposed terms and within the proposed timeframes; costs or difficulties relating to integration matters might be greater than expected; material adverse changes in Skyline’s operations or earnings; changes in laws, regulations, or accounting principles generally accepted in the United States; the effect of the recently enacted Tax Cuts and Jobs Act on Skyline and its subsidiaries; Skyline’s competitive position within the markets it serves; unforeseen downturns in the local, regional, or national economies or in the specific regions in which Skyline has market concentrations; and other risks discussed in Skyline’s filings with the SEC, including its Annual Report on Form 10-K, which filings are available from the SEC.  Skyline undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

Additional Information for Shareholders

In connection with the Company Shareholder Approval Matters and the proposed Exchange, Skyline will prepare a proxy statement to be filed with the SEC.  When completed, a definitive proxy statement and a form of proxy will be mailed to the shareholders of Skyline.  The proxy statement will contain important information about the Company Shareholder Approval Matters and the proposed Exchange and related matters.  SKYLINE’S SHAREHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED EXCHANGE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS) CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY SHAREHOLDER APPROVAL MATTERS AND THE PROPOSED EXCHANGE.  Skyline’s shareholders will be able to obtain, without charge, a copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SEC’s website at http://www.sec.gov.  Skyline’s shareholders also will be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Skyline Corporation, 2520 By-Pass Road, P.O. Box 743, Elkhart, Indiana 46514, Attention: Corporate Secretary, or by calling (574) 294-6521, or from Skyline’s website at http://www.skylinecorp.com under the tab “Investors – SEC Filings.”  The information available through Skyline’s website is not and shall not be deemed part of this Current Report on Form 8-K or incorporated by reference into other filings Skyline makes with the SEC.  This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval.

This communication is not a solicitation of proxies in connection with the proposed Exchange.  However, Skyline and its directors and officers may be deemed to be participants in the solicitation of proxies from Skyline’s shareholders with respect to the special meeting of shareholders that will be held to consider the Company Shareholder Approval Matters in connection with the Exchange.  Information concerning the ownership of Skyline securities by Skyline’s directors and executive officers is included in their SEC filings on Forms 3, 4, and 5 and additional information about Skyline’s directors and executive officers and their ownership of Skyline’s common stock is set forth in the proxy statement for Skyline’s 2017 annual meeting of shareholders, as filed with the SEC on Schedule 14A on August 22, 2017.  Shareholders may obtain additional information regarding the interests of Skyline and its directors and executive officers in the proposed Exchange, which may be different than those of Skyline’s shareholders generally, by reading the proxy statement and other relevant documents regarding the proposed Exchange, when filed with the SEC.  These documents can be obtained free of charge from the sources indicated above.

SOURCE: Skyline Corporation.”

— 30 —

Both firms are members of the Manufactured Housing Institute (MHI). A recent report on MHI, is linked below.

Busted! “Failure Bonus” Paid-Richard “Dick” Jennison, CEO Manufactured Housing Institute-per MHI Document$

Disclosure. MHProNews has no positions and makes no recommendations about the firms being reported. Last night’s closing numbers are linked here.   “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

A Show Within a Show at The Novi Home Show

October 7th, 2016 Comments off
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Champion Homebuilders “tiny house” park model home. Credit: Champion Homebuilders, MarketWire.

The Novi Home Show takes place October 14-16 at the Suburban Collection Showplace in Novi, MI.

The show is a “one-stop destination” for home improvement products for every type of project, and will include landscaping exhibits and experienced businesses available to consult or for hire.

The Novi Home Show will also host the Michigan Manufactured Housing Association (MMHA) Home Showcase, which will feature six model homes from member manufacturers, including a “tiny house” park model, under 400 square feet. Industry builders include Champion Home Builders, Clayton Homes and Skyline Homes will be featured.

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Credit: Novi Homes.

Each home will be completely decorated and furnished. Representatives from manufactured home communities and retailers will be on hand to answer questions about manufactured home living.

More information on the Novi Home Show including times and ticket prices, is available at the link here. ##

 

(Image credits are as shown.)

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RC Williams, for Daily Business News, MHProNews.

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

Champion Homes and MHVillage Link up to Market Homes

November 10th, 2015 1 comment

champion_homes__creditMHProNews has been informed that a collaboration beginning in Dec. 2015 between Champion Home Builders, Inc. and MHVillage will provide the opportunity for visitors to MHVillage to connect with Champion retailers across the country for availability of different models. Additionally, through its extensive network of manufactured home communities (MHC), MHVillage can determine vacant home sites in specific communities where the Champion home could be sited.

Our relationship with MHVillage reflects Champion’s commitment to meeting the evolving needs of today’s manufactured homebuyer,” said Keith Anderson, President and CEO of Champion Home Builders. “By leveraging the technology platform of MHVillage we have the opportunity to bring Champion models to millions of consumers as well as drive more traffic to our national network of valued retailers and communities.

Based in Troy, Michigan, Champion produces manufactured and modular homes and commercial buildings through 30 facilities in the U. S. and the United Kingdom. Champion homes are sold through a network of over 1,000 builders, retailers and developers in North America.

An online marketplace for manufactured homes, MHVillage offers listings for over 26,000 homes, 37,000 communities and almost 94,000 home sites nationwide.

Dan Rinzema, CEO of MHVillage said, “By making Champion’s models and floorplans available on MHVillage, we now have the unique ability to match Champion’s innovative home designs with their retailer and community inventory already listed on MHVillage so that the consumer can now easily locate and physically walk-thru the models that interest them.##

(Photo credit: Champion Home Builders, Inc

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Arizona Housing and MHIndustry firms uses AZ State Fair to showcase Manufactured Housing

December 9th, 2014 Comments off

arizona-housing-display-2014_state-fair-cmh-homes-credit-azhousing-org-posted-daily-business-news-mhpronews-com-According to the Arizona State Fair, approximately 1.14 million visitors came to their fair during the 18 days that a 2014 Manufactured Home model was on display there. While many didn’t tour the home, enough of the public did to generate 1,100 leads during that exposition.

Arizona Housing  tells MHProNews  that CMH’s nearby facility provided the use of a beautiful new manufactured home for fair visitors to tour.

The floorplan is one available from other AZ factory home builders, so in that respect, it was a trans-HUD Code builders’ display.

The model displayed was a 28’ x 52’ or approximately 1,386 sq ft with 2 bedrooms, a den that could be a third bedroom and 2 full baths. The displayed home boasted 9’ flat ceilings throughout. Other features included:

  • 80” Tall Windows with Full Panel Drapes,
  • 45” Tall Overhead Cabinets in Kitchen,
  • Raised Panel Hardwood Cabinet Doors and Frames,
  • 2” x 6” Exterior Walls,
  • Insulation levels were – floor R22, walls R21 and Ceiling R50,
  • The home also featured an 8’ x 28’ Covered Porch, and French Doors with blinds inside the glass.

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Four Arizona factories: CMH Arizona, Cavco Durango, Cavco West, and Champion Homes, all participated in staffing the home with volunteers from Arizona MH Retailers statewide. These included Clayton Homes, Bronco Homes, Cavco Home Centers, Factory Expo Home Centers, The Home Source, Pacesetter Homes and Rodeo HomeSales.

Arizona Housing explained that the event was designed to both boost the industry’s image as well as increase sales within the state. MHProNews applauds the association and all those involved in the event for taking a pro-active and valuable step to advance MH in their market. ##

(Photo and graphic credit: AZ Housing)

joseine-josie-thompson-writer-daily-business-news-mhpronews-com50x50-Article submitted by Josie Thompson to – Daily Business News – MHProNews.

Champion’s Modular Housing Project Garners Award

March 23rd, 2014 Comments off

The North Dakota Housing Finance Agency (NDHFA) presented Champion Home Builders the Champions of Affordable Housing Award for its modular townhome development, Wolf Run Village, in Watford City, ND, as MHProNews.com has learned. The award was presented at the 23rd annual Statewide Housing Conference on February 27, 2014 to the lending institutions and local organizations that made funding for the project possible. According to digitaljournal.com, the six buildings, each consisting of seven one-and-two-bedroom townhomes and apartments, provides housing for city and county staff, teachers, and emergency responders in Watford City, central to the rapid population growth due to the Bakken oil field drilling. Katie Walters, Wolf Run’s property manager, nominated the development for the award. “Most affordable housing projects set aside only a certain number of units as affordable housing, but all the housing in Wolf Run Village is affordable,” she said.

(Photo credit: Alana Semuels/latimes.com–Watford City, ND housing)