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Fed’s Powell “Remarkably Positive Outlook,” Plus Manufactured Housing Market Updates

October 2nd, 2018 Comments off

CNNmoney10.1.2018ManufacturedHomeStocksMarketsReportsMHProNewsThere is a steady stream of positive economic, consumer confidence, business and investor confidence news. The positive economic news stands in stark contrast to the roughly last 9 years before the 2016 election, when huge borrowing and a series of “QEs” – “Quantitative Easing” – artificially propped up an economy that was being strapped down by heavy regulations and taxes too.  Today, Federal Reserve Chairman Jerome Powell talked at an economic forum about the economic outlook, which will be our focus report 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 belowafter 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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Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out the agendas behind various headlines and news sources. http://www.mhpronews.com/blogs/daily-business-news/no-fire-just-smoke-and-democratic-clinton-supporter-says-enough/

 

Select bullets from CNN Money…

  • Tencent Music plans to go public on US exchange
  • The markets are soaring. How should investors play it?
  • A llama, bagel and frisbee: Apple’s new iOS 12.1 emoji
  • Tesla calms fears with strong sales numbers
  • Uber hires Expedia exec to fill HR role
  • Volkswagen dumps jailed Audi CEO amid emissions probe
  • Can GE’s new boss right the ship?
  • GE unexpectedly removes its CEO
  • Goldman Sachs’ new CEO has a lot of work to do
  • Goldman Sachs slants research to help Democrats, top White House adviser says
  • New York Times says it was a mistake to enlist writer who posted anti-Kavanaugh tweet to report on him
  • Microsoft co-founder Paul Allen is being treated for cancer
  • Stocks pop after new US-Canada-Mexico deal
  • Jemele Hill is joining The Atlantic
  • Don’t fall numb to this Facebook hack
  • There was only one White House press briefing in the entire month of September
  • California has a new law: No more all-male boards
  • Katie Couric: News need more diversity at the top
  • Washington Times settles lawsuit with Seth Rich’s brother, issuing a retraction and apology
  • California just passed its net neutrality law. The DOJ is already suing
  • Elon Musk agrees to pay $20 million and quit as Tesla chairman
  • Facebook hack exposed 50 million users’ info
  • New York DA probing allegations of sexual misconduct at CBS
  • Murdoch family made big money off the Disney-Fox deal
  • SEC charges LendingClub unit with mishandling investors’ money
  • 10 years after the crisis, some investors are still scared of stocks
  • Amazon’s newest physical store has a twist
  • JCPenney now has no CEO or CFO
  • These 3 startups are here to save local news in their communities
  • Ted Turner reveals he has dementia
  • How to catch up on retirement savings in your 50s

Select Bullets from Fox Business

  • Dow continues to rally, climbs to new record
  • Online sales taxes take effect in these states
  • High-tax New York towns to battle IRS over SALT cap workaround
  • What went wrong at General Electric
  • Why these stores will be closed on Thanksgiving
  • Amobee CEO Kim Perell, a self-made millionaire, reveals the secret to success
  • The Air Force is getting a new uniform
  • As a newly-minted US citizen, I did not sign on to the rule of a Democrat mob: Varney
  • C. Penney taps Jill Soltau as new CEO to lead turnaround
  • CEO departures are on the rise. Here’s a list of the big ones
  • New trade deal unites US allies against China: Kevin Hassett
  • The key parts of Trump’s new trade deal with Canada, Mexico
  • Wilbur Ross: New NAFTA deal a ‘win’ for US dairy
  • Auto sales dinged as interest rates spike
  • Musk tells Tesla employees to prove ‘naysayers’ wrong
  • Delta partners with CarePod to improve pet travel
  • Fed reportedly reconsiders standards of a big bank
  • Facebook could face massive fine in Europe after data breach
  • Amazon raises minimum wage to $15 for US employees
  • NASCAR Cup Series race team is a family affair
  • TriStar Motorsports keeps a family tradition alive at the racetrack.

 

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

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Manufactured Housing Composite Value (MHCV)

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Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Among the points that left-of-center CNBC rarely mentions when it comes to the FED and the economy today vs. the Obama era is this.  QE was a fancy phrase for ‘printing money’ by the FED. It was an artificial way of propping up the economy.  Besides all the positive economic news, often overlooked is the fact that the Federal Reserve has been “unwinding” those holdings that kept the markets artificially higher.

Wolf Street, not CNBC, reported in August that “The plan calls for shedding up to $420 billion in securities in 2018 … Since the beginning of the QE-Unwind, the Fed has shed $129 billion in Treasuries. … In total, $61 billion in MBS have been shed since the beginning of the QE unwind.” 

That’s arguably another example of how a media outlet’s hidden agenda can subtly-to-boldly ‘spin’ the news.  It’s one of several reasons why MHProNews cites headline bullets each evening from CNN Money and Fox Business, which at least provides some balance to the otherwise hyper-partisan way that news is often reported.

That said, let’s look at what CNBC said this evening about Chairman Powell’s comments.

 

  • Federal Reserve Chairman Jerome Powell cited a “remarkably positive outlook” for a U.S. economy enjoying both low unemployment and inflation.
  • A reporter asked Powell after last week’s Fed meeting whether the outlook was too good to be true,” and he said it was “a reasonable question.”
  • In a speech Tuesday, the central bank chief said the jobless rate is running at 3.9 percent and inflation is around the Fed’s goal of 2 percent. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly.
  • While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view,” Powell told economists at a Boston conference. “In addition, many forecasters are predicting that these favorable conditions are likely to continue.”

Related Reports:

Near All-Time Record, Confidence Means MORE Sales and Business

USMCA: President Trump Announces NAFTA Replacement Promise Made, Kept – Stocks Soar, plus MH Market Updates

“Results vs. Resistance,” Cutting Fog with Facts for MHVille

 

Bloomberg Closing Ticker for MHProNews…

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

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

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

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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.”

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

(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.

ICE Raids Ramping Up Nationally, MHC Arrest, & Manufactured Housing Employers Alert

January 11th, 2018 Comments off
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Benner, top right, official ICE photo.

It’s not going to be limited to large companies or any particular industry — big, medium and small,” said Derek Benner.

Benner is a “top official at U.S. Immigration and Customs Enforcement [ICE],” says AP.

7-11s have made headlines, as “employment audits and interviews with store workers could lead to criminal charges or fines. And they appeared to open a new front in Trump’s expansion of immigration enforcement, which has already brought a 40 percent increase in deportation arrests and pledges to spend billions of dollars on a border wall with Mexico.”

Benner said the audits were “the first of many” and “a harbinger of what’s to come” for employers.

This is what we’re gearing up for this year and what you’re going to see more and more of is these large-scale compliance inspections, just for starters,” said Benner, acting head of ICE’s Homeland Security Investigations, which oversees cases against employers.

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MH Community Arrests, Things To Come?

A group of residents at Oak Grove Mobile Home Park say the tip that led to the arrest of five men came from a park manager and kicked off a string of arrests and deportations last year. Amid an intense national debate on immigration, the allegations have reverberated well beyond the park,” reports the Star Tribune in Minnesota.

Dave Anderson with the advocacy group All Parks Alliance for Change, who is not involved in the case, says the nonprofit has never handled such claims, but he said mobile home park tenants often worry that managers could wield immigration status as leverage to suppress complaints,” per the Star Tribune.

Anderson is also the head of NMHOA, the National Manufactured Home Owners Association, led by long-time activist, Ishbel Dickens.

What Happened to Those Anti-MHI Resident Group Protests?

Because they did not provide names, ICE could not confirm the arrests. The agency, which last year ramped up enforcement, does not discuss its investigative methods, including tips through a hot line to report criminal activity. Shawn Neudauer, a St. Paul-based spokesman, says tips about people breaking immigration laws arrive daily,” the Minnesota media outlet reported.

But Neudauer stressed the tip line is not for settling scores.

Somebody using law enforcement to coerce people is potentially violating both civil and criminal federal laws,” Neudauer said.

That statement from Neudauer may prove important in manufactured housing, beyond this reported community incident. Because there were industry whispers last year that the raids at several independent producers in the south were the result of one, or more, tips from a larger competitor.

If so, the Star Tribune reports that such a practice of misusing the law as a tool of retaliation can be illegal, with civil and criminal penalties.

Reports – ICE Raids Factory Builders

Are More Raids in MHCs, MH Production Centers Other MH Businesses Coming?

12 percent of undocumented (illegal) immigrants are in construction, says Pew, cited as part of a broader report on manufactured and  conventional housing industries yesterday.

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To see “Go Big, or Go Home,” click here or the image above.

Sources tell MHProNews that percentage of undocumented workers is higher in some plants.  There are other segments of the industry which utilize such labor too, per reports from industry sources.

As the immigration controversy heats up, MHProNews will continue to monitor these developing issues.

Warning to MH Community Operators

As a reminder, with the current state of fair housing laws, communities should be cautious in using anything that smacks of national origin as being a cause for an enforcement action. It could, as in the Minnesota case noted above, lead to a charge of discrimination. ## (News, analysis, and commentary.)

Note 1: Thousands of MH Pros, Investors, Officials and Housing Experts do it. You, your team, and industry colleagues can sign up to the MH Industry leading headline news/updates – typically sent twice weekly – click here to sign up in just seconds.

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

Dr. Sebastian Gorka Exclusive on Soft Targets, President Trump, Securing our Homeland, and Manufactured Housing

October 19th, 2017 Comments off

DrSebastianGorkaDrGNPRGettyDailyBusinessNewsMHProNewsOne of the primary purposes of the federal government is the defense and safety of its citizens.

In the words of the Preamble to the Constitution, it’s to “establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our posterity.”

As important as tax, regulatory, and other reforms are to industry professionals, safety and security can’t be overlooked.

It’s in that context that we look at the thoughts previously shared by Dr. Sebastian Gorka with MHProNews, immediately after related news from the White House.

Make America Safer

In a recent release from the White House press room to MHProNews, President Donald J. Trump announced his nomination of Kirstjen Nielsen as Secretary of Homeland Security (DHS).

I share the President’s profound commitment to the security of our country and the safety of the American people,” Nielsen said. Truly, there is nothing more valuable than to feel safe and secure in your homeland.”

The White House press room also shared the president’s recent video.  That video reminds Americans of our independence, which ‘founding father’ George Washington’s defeat of the British is celebrated today.  Defending the God-given rights enshrined by the U.S. Constitution, is vital for a free society.


Flashback, Fastforward with Former Presidential Advisor, Dr. Gorka

The border is our front door,” Dr. Gorka said in a recent statement reported by NPR.Surely we should have a control as to who enters our house. This is the house of America. And the idea that we don’t control it [i.e.: the border] is crazy.”

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DrSebastianGorkaDrTwitterMAGACoalitionPostedDailyBusinessNewsMHProNewsIn the light of numerous terror attacks in the U.S. and Europe in recent years, MHProNews asked the anti-terrorism and security expert about what level of concerns factory builders, community operators or others in the industry should have regarding potential terrorist attacks.

Any high concentration of unarmed civilians is an attractive target for terrorists,” Gorka replied to MHProNews.Terrorism is about generating fear in a population to coerce change.”

MHProNews also asked Dr. Gorka, “During the Crusader era, the then Christian West responded both militarily and with an effort to convert Muslims.  Why do we hear so little discussion of that religious component today and do you think that might be useful now as then?”

The religious aspects of the current threat environment have been assiduously white-washed,” Dr. Gorka said in his emailed comments to MHProNews.  He cited prior administrations, saying, “and this began under the Bush administration so it is a bipartisan problem.”

During the Obama Administration, Gorka told MHProNews that, “U.S. counterterrorism [was] based upon a fallacious theory that poverty and lack of education lead to extremist violence.”

Of course, if that were true [then] half of India, or China would be terrorists. But they’re not,” the author of Defeating Jihad said.

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It is worth noting that in recent months, the Trump administration changes in military tactics has resulted in a series of reversals for ISIS, the latest being the fall of their ‘capital’ in Raqqa.

Also during the Obama administration, Gorka told MHProNews that, “For political reasons, the policymakers refuse to recognize the religious ideology that drives global jihadist groups like Al Qaeda or the Islamic State. 

As long as that is the case, we will not defeat the current threat to the Republic,” Dr. Gorka concluded.

While he left the Trump administration, like Breitbart’s Chairman Steve Bannon has, Gorka is deeply involved in promoting the “Make America Great Again” agenda.

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Image credits are as shown, text and collage credits, MHProNews.com.  Note our recent report that Harvard/MIT has after extensive study determined that Bannon and Breitbart are not racist or “alt right.” See that report, linked here.

As the MAGACoalition Chief Strategist, Gorka’s been on a variety of conservative media, as well as some left-of-center media.

Like Bannon, he’s entered a “season of war” on the GOP establishment, in support of the White House’s “drain the swamp” agenda.

In the video above from the MAGACoalition website, Gorka says among other things that “when our side,” the GOP “fails,” that’s “the bigger obstacle.” to achieving the president’s agenda.  ## (News, analysis, commentary.)

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

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

MH Factories May Get New Life

March 1st, 2017 2 comments
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An unrelated “tiny home.” Credit: Youtube.

In Carbon Hill, Alabama this week, the City Council heard about a possible plan from developers to use a couple of old manufactured home plant facilities to make small-sized homes, aka “tiny houses.

Charles Phillips, his son, Charles T. Phillips, and Jim Clark spoke to the council about their plans.

According to the Daily Mountain Eagle, Mayor Mark Chambers indicated the developers have not asked for financial help from the council for the business, which could employ as many as 500 over a 10-year period.

Really, all they would need from the city council would be approval to sell them the permit to build the homes,said Chambers. “They just need approval of a business license or whatever.

In addition to providing jobs, Charles Phillips shared additional details on the vision for the homes.

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Charles Phillips at the council meeting. Credit: Daily Mountain Eagle.

What we’re proposing is to build little tiny houses. It is not a mobile home [sic]. It is an actual house that will be built. We have foundation specs that they will be set and an anchored to,” said Phillips.

So it is not a mobile home [sic]. It is not a Jim Walters home. It is a prefinished tiny home for low-income people, disabled people and people who want to rent them out to people.

Phillips also noted that city officials reviewed rough drawings of the plans during the meeting, but that blueprints are not ready yet.

Basically, we are looking at getting the Dover building, or possibly the Arrow building, and employ to start with maybe 120 people by the end of the year,” said Phillips.

That would create a lot of jobs in the Carbon Hill area. We’re looking at all the labor and people from Carbon Hill to help income in Carbon Hill.

The trio of developers looked at several other cities, including Jasper, Oakman and Townley Parrish.

They feel Carbon Hill is the answer.

Here is really where we want to do the business at,” said Phillips.

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A map of the area. Credit: Google.

While they are actively developing plans, the developers approached the council now to see where they can go at this point.

I would like, once this is up and running, would like to have at least 500 people working. It is like Mr. Phillips said, everybody going to Jasper,” said Clark.

All of the outlining communities are being left out.

City officials said the 500 figure could also depend on various factors, including how many local residents will work and how many will want to commute to the plant.

The developers are officially calling the homes “efficient living houses,” with the smallest homes, designed for the homeless and the veterans, measuring 16×12, while larger units will measure 394 square feet.

For more on the “tiny house” movement, including a proposal to utilize the homes as an affordable housing solution in Chilmark, Massachusetts, click here. ##

 

(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.

Construction Company Head Slams Modular Housing

August 12th, 2013 Comments off

Responding to the onset of numerous modular housing projects now underway in New York City, Samuel C. Florman, Chairman of Kreisler Borg Florman General Construction Co., notes that George Romney (Mitt Romney’s father) promoted prefabricated housing as Secretary of the Department of Housing and Urban Development (HUD) in 1969-1973. Writing in crainsnewyork, he says nine factories had public and private support across the board but “the experiment failed. They falter because of suddenly weakened financial backing, technical complications, community conflicts, weather, accidents, labor unrest and, in general, the unforeseen.” MHProNews understands that the absence of weather conditions is one major factor in the success of modular construction.

(Photo credit: Forest Ratner Co.–Brooklyn Atlantic Yards modular housing)

Red Sea Housing Expanding Production

August 5th, 2013 Comments off

As a result of increased oil and gas and mining projects in Saudi Arabia and the consequent need for modular workforce housing, Red Sea Housing Services Company plans to build a fourth manufacturing facility, this one in the Kingdom. The $22.65 million plant, located in King Abdullah Economic City (KEAC), will be nearly 600,000 square feet, and will increase the company’s output by 35 percent. The plant is expected to be functioning in the second quarter of 2012, as tradearabia.com informs MHProNews. Red Sea currently has modular housing factories in Jubail, Saudi Arabia, Jebel Ali in Dubai and Accra, Ghana.

(Photo credit: Red Sea Housing)

Home Building Methods have Changed Little

July 26th, 2013 Comments off

Ten years ago architect Stephen Kieran, noting you can drive the least expensive automobile through a thunderstorm at 70 mph and not get a drop of water inside, challenged the home building industry to do as good a job. Martin Holladay of Green Building Advisor says the technology for producing cars has advanced with new electronics, materials, engineering, and gadgetry, while homes, on-site and in factories, still use wood framing, drywall, vinyl and paint. Attempts to change the manufacture of factory-built homes have not succeeded although the homes, in many instances, have: Lustron Homes of the 1940’s were made of porcelain enameled steel on the outside, metal roofs, metal paneled interiors with metal cabinets and pocket doors. Owners say they have never had to repaint the outside or replace the roof, although the company went bankrupt in 1950, unable to compete with stick-built. While tools used for building homes have improved, as MHProNews has learned from treehugger, the methods have changed little. American houses are designed to be as big as possible, using the fewest materials as possible, and built as cheaply as possible. Until we are willing to trade quantity for quality, it will not get better.

(Photo credit: treehugger–parts to a Lustron home)

Drew Resets Earnings Report

October 31st, 2012 Comments off

FinanzNachrichten reports Drew Industries, Inc. (NYSE:DW) has rescheduled its third quarter, 2012 earnings report due to the severity of Hurricane Sandy’s effect on the eastern seaboard. The component maker for the MH and RV industries through its wholly-owned subsidiaries Lippert Components, Inc., and Kinro, Inc., will deliver Q3 financials before the market opens Thurs., Nov. 1, with a conference call and webcast to follow the same day at 1 PM eastern time. Fred Zinn, President and CEO of Drew said, “We have made this decision in view of the exceptional circumstances created by Hurricane Sandy along the eastern seaboard. At this time our primary focus must be the safety of our employees along the path of the storm.” As MHProNews reported Oct. 17, 2012, Drew was originally set to present the Q3 numbers Oct. 31, 2012. To hear the webcast, go to www.drewindustries.com. Drew operates 31 factories across the U.S.

(Photo credit: Kinro, Inc., subsidiary of Drew Ind.)

Houses as Durable Goods

October 4th, 2012 Comments off

Matthew Iglesias, writing in Slate magazine, notes that durable goods—appliances, furniture, vehicles, airplanes— are primarily mass-produced in factories because that is the most cost-effective way to produce the least expensive product for the consumer, and the highest wage for the worker. Some of these products occupy space in homes, which could be considered the epitome of durability. The typical new site-built home is in a neighborhood where the homes look like they came from an assembly line. As MHProNews has learned, the recent housing downturn resulted in part from innovations in mortgage brokering that consumers did not understand or benefit from, but returned a healthy profit for the lenders. Iglesias writes: “But while the technology exists to build houses in factories and then deliver them to the location, it remains marginalized in American life by negative attitudes and legal impediments. And yet there are a bunch of reasons to think that manufactured houses (and the related sector of modular houses) is a more dynamic sector with more prospects for productivity increases and wage gains than is conventional single-family homebuilding. It’s time to return to developing affordable housing the old-fashioned way: finding more efficient, cost-effective ways to make the houses, rather than more efficient ways to make the loans.” For the complete article, please click here.

(Photo credit: Wikipedia–new manufactured homes ready for shipment)

Drew Celebrates 50 Years

October 3rd, 2012 Comments off

WALB-TV reports White Plains, NY-based Drew Industries, Inc. (NYSE:DW) will ring the closing bell at the New York Stock Exchange on Fri., Oct. 5 in honor of Drew’s 50th anniversary as a publicly traded company. Drew’s initial public offering in 1962 denotes its involvement in real estate financing, management and ownership. Currently, through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies an array of components to the RV and manufactured home industries from 31 factories across the nation and employs 5,000. MHProNews has learned Drew has annual revenues over $800 million.

(Image credit: Drew Industries, Inc.)