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Wheel Estate – Manufactured Home Consumer – Special Shopping Report

May 27th, 2019 Comments off

 

WheelEstateManufacturedHomeConsumerSpecialShoppingReportDailyBusinessNewsMHProNews

While there are arguably market-manipulations afoot that impact manufactured housing, it would be inaccurate to pin the responsibility for all lost sales on a ‘rigged system.’  Retailers and communities can make a difference in their local market. Rephrased, we believe that individual companies do have a level or responsibility for doing what they can in their market, as this teaser will outline.

 

 

An investor recently called MHProNews to get some tips on shopping for a new HUD Code manufactured home or a modular home. Tips were duly provided, along with suggested reading.

That investor is planning to buy one or two homes initially for property owned, which will then be resold. As stated, that investor will pay cash, no financing necessary.  This isn’t hypothetical, or a mystery shopper, it is a real and serious buyer.

He checked in earlier to say that he’s since shopped 7 different manufactured home locations. He’s made and is making notes. Some of those who he’s shopped are independents, others are vertically integrated chain retailers of one of the big 3 or other companies.

Initially impressed with some retailers, that shopper said he discovered that some did not return follow up calls for more information.

Others, who asked him to ‘register’ upon arrival at their retail sales office, never followed up by phone or otherwise – even though they had completed contact information.

 

2 Upcoming Special Reports

There will be a series of special reports on manufactured home marketing and selling. That manufactured home shopper plans to provide a detailed, written report in June, which MHProNews will feature.

We will also provide a report tomorrow on manufactured home marketing and sales. Stay tuned for both.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

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

That’s today’s ‘almost midnight’ edition of manufactured home “Industry News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

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

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

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

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

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

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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

Related Reports:

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

 

“Lead, Follow … Or Get Out of The Way”

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

 

 

 

 

 

 

 

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

May 11th, 2019 Comments off

 

ClaytonHomesLogo21stMortgageLogoVanderbiltMortgageLogoInvestorProfessionalManufacturedHomeLessonsLearnedMHProNews

The past is prologue ideally to be learned from. When an error is made, it could be ignored, covered up, or deflected by some razzle-dazzle style head-fake. Or an error can be admitted, addressed, amends made as possible, and then one can advance with head held high.

 

 

The Daily Business News on MHProNews pondered separating these three Berkshire Hathaway owned company snapshots.  But Clayton Homes, 21st Mortgage Corp, Vanderbilt Mortgage and Finance (VMF) are so interconnected, and the lessons learned for investors and MHVille pros are so interrelated, that it made more sense to do this as one overview article that acts as a hub to several other linked reports.

With that said, let’s note that the nature of a con is that someone is deceived by some form of ruse. The goal of the ruse or con is to separate ‘the Mark(s)’ – the targeted victim(s) – from something valuable.

The hypothetical case for a con job in manufactured housing only requires a few people to be in the know. Warren Buffett, Kevin Clayton, and Tim Williams would logically be among those purportedly in on such a con job that rigs the market by using political connections, nonprofits, financing, stirring up bad news, and other means.

The vast majority who work with or for those three people have no need to know. Hundreds or thousands in their employ might be terrific personally, and unaware of the ploy. One must be fair and separate wheat from chaff.

So, for surrogates of the Omaha-Knoxville-Arlington axis who scoff at “conspiracy theories,” they are either ignorant pawns, lack discernment, are liars, part of the head-fake, or cowardly sycophants – take your pick. By the way, linking some doesn’t mean or imply that there aren’t others.  There are some mouthpieces that arguably clean up their act better than others do.

 

The Elephant in The Room

The content and links herein set the stage for almost everything else that matters in manufactured housing today vs. 20 years ago.  To understand an industry, one must grapple with the realities of the elephant in the room.

After repeated and documented offers to leaders at Clayton, 21st, VMF, and MHI to clarify, correct any factual errors or offer an alternative explanation, they’ve remained silence.  That’s not proof that what is found herein or that is linked is correct.  But given that we have faithfully quoted Warren Buffett, Tim Williams, and Kevin Clayton at length and in their own words, that’s a good indicator that we are onto something significant.  The fact that we are the most read means something too.

 

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

Regular readers who already know that definitive report linked above on MHLivingNews backwards and forward, know that the evidence to support the allegations of manufactured home market-rigging with related antitrust violations are compelling.

Who says? Numerous everyday industry professionals, but also attorneys, including those into antitrust law.

Furthermore, as noted, we’ve given repeated opportunities to

  • the Claytons,
  • Tim Williams/21st,
  • MHI,
  • their attorneys,
  • and the MHI’s outside attorney assigned to ‘deal’ with us on MHI’s behalf

chances to respond in writing or live in public. No direct replies in the last year from them have denied or explained away any of our fact-checks or reports.  But there have been plenty apparent ‘over the target’ reactions from their surrogates like ones linked here and here, etc.

There are also lesser-known surrogates that have allegedly been used by the axis.  We see no value to mentioning them now.  There has also been legal saber rattling, and other ploys we won’t dive into today.  Clearly, they’ve not been successful in deterring our reports, fact-checks, and analysis.

Before making the investment case for manufactured housing, let’s make the Manufactured Housing Case as a prime solution for the well-known affordable housing crisis in brief.  Because in a housing industry that does well over a trillion dollars a year in business, the potential for manufactured housing could well be over $100 billion a year, not the paltry under $8 billion achieved in 2018.  Manufactured homes are the most proven form of affordable housing.

 

UltimateManufacturedHomeHousingInfographicNotMobileHomeTrailerHouseFactoryBuiltHomeIndustryDailyBusienssNewsMHProNews-600

 

As you ponder motivation for doing what Buffett and his brothers in MHVille are doing or why, ponder the business potential reflected below every few years. There are few if any industries that have more upside.  You can quickly see why someone who thinks long term could be willing to accept millions of lower profits now, in order to gain billions more later, right?

 

CashPileMillionBillion100billionTrillionDollarInfographicManufacturedHousingIndustryMHProNews

U.S. housing sales are about a 1.67 trillion a year business in 2018.

 

2018DataShareofHousingMarketManufacturedHousingInfographicDailyBusinessNewsMHProNews612

 

 

Making the Case for Manufactured Homes

This week, HUD Secretary Ben Carson has made a fine summary case for manufactured housing.  It is linked below.

 

 

Oddly, as of 9:30 ET on this date, that speech by Sec. Carson – delivered to the Manufactured Housing Institute (MHI) in New Orleans – is not found on the MHI website. That’s significant and is part of a wider pattern, as will be reflected later.

 

HUDSecBenCarsonNOLOManufacturedHousingInstitutelogoMHIlogo2019-05-11_0933MHProNews

 

Over the years on our 2 industry-leading trade media sites, we’ve complied decades of federal, non-profit, university-level, and other third-party research.  Recently, we took some of the best or most significant of those items and published them at the link below.

 

 

Properly understood, that third party research plus Secretary Carson’s comments, collectively make a compelling fact-based case for manufactured homes.  The common concerns about manufactured homes are routinely and readily debunked.  That can be done by using non-MH industry sponsored research.

 

EvidenceDisprovedMisconceptionStereptypesContinuedInfluenceLocalGovernmentsRestrictionsQuoteLisaTylerPhDExamingAttitudesManufacturedHousingMHProNews

The quote is from a doctoral dissertation that used reams of university-level, peer reviewed research. Dr. Tyler was invited by this writer to participate in various panels. Her work merits attention.  Which begs the question, why didn’t MHI invite or promote her work?

 

Once more, those research documents are routinely not to be found on the MHI Website. Why not?

 

NARNationalAssociationofRealtorsScholasticaGayCororatonGAOReportMHIlogowebsiteManufacturedHousingInstituteLogo2019-05-11_0949MHProNews

MHProNews has been spotlighting this issue for months, of MHI not proving useful research on their website. The decline in shipments continues. Perhaps if they are embarrassed publicly long and often enough, they will finally do something common sense that gets to the heart of the industry’s challenges? Until then, as of the date/time shown, there are numerous, useful, third-party research reports that are not to be found on the MHI website.

 

Three of those more recent linked reports, pardon the plug, happen to name me and/or one of our publications in a footnote or acknowledgement. It’s not bragging when it is true. It is important to note as it acknowledges our expertise in this realm.  So too does the praise by many of the same professionals we’ve been compelled by evidence to now critique. It is evidence of several reasons why MHProNews/MHLivingNews and this writer should be taken seriously, because the opposition does.

Sometimes, you are better known by those who oppose you.

That segue aside, there’s over twenty years of research that makes the compelling case for manufactured housing.

Which begs the questions. Why doesn’t MHI have all this potentially useful research on their website? Or Clayton on theirs?  Again, perhaps they will at some point – out of pressure – finally do the obvious.  But as of the date of this report, such research was absent on the MHI website. Let’s consider a related issue to the point that Dr. Tyler’s quoted comment could address, if it was being used.

TimWilliams21stMortgageCEOthenMHIChairmanGoodArgumentsRefuteEveryStatisticsRespondEveryStoryPBSDIckErnstDailyBusinessNewsmHPronews

Why has MHI for some time failed to mention Enhanced Preemption?  By contrast, why does the Manufactured Housing Association for Regulatory Reform (MHARR) website have several mentions of the same topic?

 

EnhancedPreemptionMHIWebsiteSearch

Both sources with MHI, and MHI’s outside counsel, have stated that they monitor our website. They’ve been asked directly about this issue. No changes. Given the issues the industry faces on zoning and placement, why are they allowing one of the best arguments to go unused? This was rechecked at 2:58 PM ET, on 5.11.2019. Same result.

 

EnhancedPreemptionManufacturedHousingAssociationRegulatoryReform4-26-2019ManufacturedHomesMHProNews

 

 

The answers, the evidence suggests, is because the first – MHI – postures promoting manufactured homes. They do enough promotion to be able to say that they promote. The second trade group – MHARR – isn’t marketing focused, they are federal regulatory focused, but often have powerful facts useful for researchers and marketers alike.

However one wants to spin it, MHI and Clayton are either ineffective, and/or nowhere achieving their capabilities or capacity. How is it possible that a fairly modest organization like our LifeStyle Factory Homes, LLC – the parent company to MHProNews and MHLivingNews – are doing more effective promotions than far bigger and better funded operations do? Why are we able to achieve local results that blows their results away? Why has Clayton purchased locations that we’ve performed coaching and business development services at?  These are a few interesting questions we will allow to hang out for now.

Keep in mind that the Berkshire Hathaway brands of Clayton Homes, 21st, and VMF dominate MHI through dues, via influence on their executive committee, their sway at the state association level, and also via their influence over several individual members.

Yesterday, we did a similar but shorter report on Nathan Smith of SSK Communities. Thousands of industry professionals have already flocked to that report. Smith and SSK have reportedly done business with Clayton and 21st for years.

 

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

 

Rephrased, the Arlington, VA based MHI to a high degree does whatever their Omaha-Knoxville master’s and their ‘big boy’ colleagues want. An award-winning MHI success story has said as much. No questions need to be asked, no explanation of a plot has to be shared; if a directive is given by the powers that be, a directive is followed.

Simple. Easy.

Ergo, there is no need for a conspiracy, when raw power working quietly in the daylight will do.  It is entirely plausible that some at MHI or elsewhere in other nonprofits had no clue as to how they were being used.  They may well have had plausible deniability, that is, until they read about it here on MHProNews and/or on MHLivingNews. 

Frankly, given their deep pockets, it is stunning that they’ve not already sued us, even if they arguably have no valid case against us.  Either way, the as yet unchallenged evidence linked is published for readers like you to ponder and discern for yourself.

 

Third Party Investor Research

There are routine contacts of our operation from a variety of sources. Among the investor contacts was one that indicated they’d studied the kind of ‘strategies and tactics’ employed by Buffett and the Claytons – but they witnessed that in other industries first.  To that operation, what they’ve read here and on our sister site MHLivingNews is stating the obvious.  To them, it is part of the broader pattern of monopoly power being exercised in America.

But that knowledge of their tactics is not deterring them from advancing their own plans in factory-built housing. They believe they can outperform the Claytons. Hold that thought.

About two years ago, MHProNews floated the notion that Amazon could easily enter factory-built housing industry. They were already promoting the sales of container housing.  Last year, Amazon started that process of directly entering factory-home building via their Alexa Fund investment in Plant Prefab.  See the quotes in the infographic above.

SoftBank’s support for modular builder Katerra is noteworthy too. They could, in theory, rapidly rival Clayton in a few years.

Google is experimenting with modular at their own offices.  Other ex- or current-Silicon Valley giants are exploring the industry too.

We won’t go through a litany of other poised to get in, because some of those contacts have asked for anonymity as they prepare their own launches.  To show the flip side, there are investors like Robert Robotti, who for some time cheered manufactured homes.  He’s cooled since.  But my hunch is he didn’t grasp the undercurrents.  Robotti may not have read between the lines on MHI’s now exited president and CEO, in his parting message to the industry.

 

“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

But the examples shown reveal that there are those who ‘get it’ about factory-home building. From more modest investors who are thinking in terms of placing a few million into the mix – up to giant-sized firms or investment groups that could enter with a splash – there are several who ‘get it.’

Some in their own words have said that they want to set themselves apart by being ‘white hat’ firms in the manufactured, modular, or prefabricated industry, vs. the ‘black hats’ that posture being a ‘white hat.’

 

Manufactured Housing – White Hats, Black Hats, Investing, Consumers, MH Independents

 

What hat color does Buffett’s brands sport?

Let’s share some screen captures, thirds-party videos, and  links to our own research to allow our readers to answer that question for themselves. Because while vexing to the industry, it spells opportunities in disguise for those who grasp nettles.

 

LeadersGraspNettlesDavidOgilvyFatherModernMarketingQuoteMHProNews

 

Before diving in, here’s the bottom line for investors.  Clayton and Berkshire’s MH brands, per sources, posture nice, but can play rough.  You as an investor must be willing to fight that fight. Current industry pros, the same thing holds true.

 

Mobile Home Militia – “Clayton [Homes] Wants Your Cornbread Too” “Join the Revolution” – ‘You Gotta Have Swagger’

 

But here is the huge potential takeaway for savvy investors with chutzpah.  There are already good laws on the books that if enforced would ‘unchain’ manufactured housing.  For those that need an expert = who want to do a White Hat operation = and can budget for that role to guide that process successfully, click here.

 

 

To sum up, the potential to earn millions to billions in manufactured housing exists. One can make the argument that Clayton/MHI and other nonprofits have allowed and/or deliberately stirred up bad news to suppress and understanding of the industry. The opportunities are so big, they wanted to hide them in plain sight.  That logically helps explain why useful or good news is hidden from the public on the MHI or Clayton sites. To learn more, click the article linked above and below.

 

 

Having teed this up, let’s review the evidence for ‘black hat’ activities alleged by others against Warren Buffett, Clayton Homes, or their lenders. Because what that reveals is this. Those willing to invest, mix it up, and be the white hat in specific markets can demonstrably jump ahead rapidly.  Because there is a hunger for affordable housing.  The evidence supports HUD Code manufactured housing’s value.

A few power players may be keeping their foot on the industry’s brakes, in order to consolidate more of manufactured housing at a discount.  But have they overplayed their hand?

 

“Kevin…the Problem of Your Industry…”

 

 

Are they now stuck, having their grand scheme revealed here?

 

 

Warren Buffett’s Profitable Lessons for Manufactured Housing

 

Investors must weigh the pros and cons of that evidence for themselves, but we are presenting a sampling of the evidence of purported black hat activity, which in the light of the video posted below, reveals the value of what white hat activity could achieve. Note, we’ve since parted ways with the videographer that produced this for us – my bad for not checking his credentials more closely.

That said, the value of this video is significant on several levels to investors, skeptics, the pubic – and us too.  Note how Jim Clayton finished this video?  Is this among the reasons why the ‘big boys’ have rattled sabers, but have not in fact acted legally?

 

 

Let’s sample some pro Clayton videos they’ve made or spotlighted themselves, and then contrast those with videos by others.

 

 

Clayton Homes Third Party Videos

To be fair, here is a video that Clayton produced. It’s a fine video.  It purports to address the image issue.  Published on Sep 1, 2017, it has had as of this morning 8,985 views this morning, per their YouTube page, which said the following.

Clayton Unveils Have It Made Campaign: Clayton, one of the largest home builders in America, is kicking off its biggest marketing campaign to date focused on how its building process can help provide affordable housing to hardworking families.”

 

 

Let’s contrast that Clayton video with a customer-produced video posted by Ted Davis and published on Apr 7, 2017. Also as of this morning, Davis’ video had 22,738 views.  Keep in mind Davis has done more than one such video, as have scores of other Clayton, 21st or VMF customers.

Here’s what Davis said on the YouTube page. For first time visitors, bear in mind that on MHProNews and MHLivingNews we often turn direct quotes bold and brown, to make them pop. Otherwise, the text is as in the original.

 

My Clayton Manufactured Home Features .. Fake Studs

We bought a Clayton Manufactured Home summer of 2015. It wasn’t my first choice, but it was what was available. It would appear that Warren Buffet owns Clayton, and they have bought up several lesser mobile home companies, removing a lot of competition.

If you listen to Clayton, they want you to think they have a quality product, and they say they will stand behind it. So far, they have fixed a few things for us.

However, if they actually had a quality product, the repairs would NOT have been necessary. They say their product is built to HUD standards. HUD must have way different standards for mobile homes vs. site built.

Check my videos of things we have had problems with.

  • Plumbing … bad faucets, leaking pipes, pipes that fell off at a touch. The master bath tub faucets weren’t even connected to any pipes.
  • Wiring … I have never seen hardware like this before. Strange light fixtures, plugs, and switches.
  • Doors … I have discovered that the interior doors seem to be made of cardboard, as well as the door frames. Also some don’t fit right.
  • Interior studs … they are fake, little bits and pieces glued together.
  • Sheetrock … less than a half inch
  • Assembly is with tons of staples and some glue. I haven’t found any framing nails yet.
  • The lids on the toilets were cheap plastic. One broke when I sat on it the first day in the house. I now have real, wood, lids.
  • The house was supposed to have compact fluorescent lights installed. Didn’t have any. Not a single one.
  • They DID get us really nice decks, front and back, including a wheelchair ramp on the front one.”

 

 

 

For newcomers to manufactured housing, please note that there are legitimate answers to the issues and concerns that Davis raised.  Why weren’t they addressed?  Does Clayton want the blowback, so that more decide not to buy a manufactured home at this time?

The most common sense reputation defenses are often not followed by Clayton.  Why not, given Buffett’s statements about defending reputation?  Our sources in Clayton tell us that cancellation of retail orders or agreements are becoming more commonplace, more so now than in days gone by.

 

WarrenBuffettQuoteCantBePerfrectCanAffordLoseMoneyNotShredReputationMeasureActWhatIsLegalHappyToHaveUnfriendlyButIntelligentReporterWriteFrontPageMHProNews

 

Prefabulous® is the latest Clayton Homes campaign. From their YouTube page,

Prefabulous® Clayton Homes. Published on Feb 12, 2019, “We’re building homes a different way. A smarter way. Homes that are beautiful, strong and, most of all, affordable. That’s Prefabulous®.” As of this morning, it has had 6,475 views.

Again, in fairness to Clayton, the video is cool. Quality. It is techy.  It aims at Millennials.

 

 

But the numbers of YouTube views tells the key point of the story.  Are we to believe that Clayton can’t do a better job than this paltry total?  Or is this in fact evidence that it is a fig leaf?  Window dressing? Are videos and campaigns that don’t move the needle much at MHI or Clayton ploys that look real enough to the underinformed? When in fact they routinely fail to hit the bulls eye of what keeps Americans from even considering a manufactured home, much less buying one?

Let’s let those questions soak in, as you consider the following.

By contrast, as was reported, documented, and has gone unchallenged by the powers-that-be at the links herein, Warren Buffett, via ‘dark money’ channels provided funding to Manufactured Housing Action or “MHAction.”  Buffett has de facto funded other nonprofits that have attacked the industry, and his own brands too.

MHAction and two other nonprofits teamed up to do a white paper, that was spotlighted by the Washington Post, along with others in mainstream media. A few weeks later, Last Week Tonight with John Oliver featured a report that spotlighted that same MHAction white paper.  Oliver’s viral video was errantly dubbed “Mobile Homes,” and you can see it either linked here with an analysis or below.

Published on Apr 7, 2019, it says, Mobile Homes: Last Week Tonight with John Oliver (HBO) and has had 5,867,951 views.  Put differently, in less time, it has had almost 100 views to every view of Clayton’s Prefabulous®.  Ouch.

 

 

Ask yourself this question. Which video – Prefabulous® or Oliver’s Mobile Homes – is having more of an impact on the marketplace?

Isn’t the answer obvious?

Again, there are answers to each of the concerns raised by Oliver, which to demonstrate, are summed up in the link below.

 

https://www.jacksonville.com/opinion/20190420/letter-affordable-mobile-homes-are-desperately-needed

 

Why didn’t Clayton or MHI reply publicly to Oliver’s hit?

Is this only a recent pattern?  Or are there other examples of bad news being created by Berkshire brands in MHVille that date back years?  Let’s look.

This next video by Democracy Now, a progressive media operation.  It spotlights both FEMA woes tied to Clayton, and also the Haiti issues that Clayton and the Clinton Foundation became embroiled in.

 

 

In fairness, here is what Clayton homes published on YouTube as an apparent response to the criticism. “ClaytonHomes, Published on Aug 24, 2010.  Per their YouTube statement, “Just after the earthquake in Haiti, Clayton Homes contacted The Clinton Foundation to offer assistance. As the world’s largest manufactured home builder, Clayton Homes was happy to help, and has already built 20 new classrooms and hopes to be able to provide more in the future.”

 

 

Reality Check appears to be a right-of-center commentator, and they published this below about the Haitan incident. Reality Check: If Haiti Is a “S***hole” Country, Who Is Really to Blame?

 

 

 

The Democracy Now video had less views than Reality Check, but both blew away the views of Clayton’s posted video on Haiti.

But none of those videos were as impactful as the mainstream news reports that others carried at that time.  The Clayton/Haiti tale is one that points to broader issues of how certain reports linger briefly, and are forgotten.  But not by all.  While Clayton wasn’t specifically mentioned in this next video, housing provided is alluded to, and the Reality Check video above shows Kevin Clayton with Bill Clinton in Haiti.

 

 

 

Bear in mind that all of this is connected to Warren Buffett, who backed Secretary Hillary Clinton in 2016, and backed Barack Obama, who helped impose Dodd-Frank on banking, which also drove manufactured home lenders out of business. Once more, that’s not meant as a slam on Democrats.  There are examples of corruption in both major parties. Manufactured housing is a non-partisan or bipartisan issue.

 

https://www.manufacturedhomelivingnews.com/democrats-republicans-agree-manufactured-homes-can-play-a-vital-role-in-easing-the-affordable-housing-shortage/

 

That noted, one can’t overlook the facts of how the game is being played, and how the system is arguably being manipulated in manufactured housing by Clayton, MHI, and others working with them.  It’s the truth hiding in plain

WarrenBuffettBillClintonHillaryClintonBarackObamaKevinClaytonNathanSmithPhotosDailyBusinessNewsMHproNews600

 

We’ll link up related reports, further below.  But this much ought to be clear.  While words like “alleged” need to be used to cover such reports, or attorneys could swarm us, there is significant evidence of the following.

 

  • Clayton Homes and manufactured housing in general are underperforming.
  • Other industry producers essentially make a similar claim, without pointing a finger at MHI or Clayton – that manufactured housing is performing well under historic trends and norms.
  • A new trade association formed last year, that broke away from MHI, specifically stating that they were doing so for a lack of performance by MHI.
  • MHARR exists and resisted merger efforts with MHI for years, because there is no confidence that MHI or their ‘big boy’ masters would properly represent the interests of their members.
  • Clayton Homes and their related lenders have sparked more apparent bad news than good news in mainstream media, and have done so for years – as even this brief survey reflects. While most industry trade media – part of an MHI ‘amen’ corner – avoid that painful reality, facts are what they are.
  • Some of these episodes of bad news can be traced back to donations made by Warren Buffett to various nonprofit organizations, see the report linked here.

 

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?

 

Certainly, there is evidence of positive marketing efforts by Clayton and MHI.  But they are widely outperformed by negative mainstream news or consumer created content that rips the company. Even Clayton’s hometown news outlet carried this problematic report about the Knoxville-metro based firm and their lenders. These facts, reason, and evidence beg questions.

 

 

  • Are the Berkshire brands in manufactured housing incompetent?
  • Why is Buffett funding his own opposition? Is Warren Buffett a sadomasochist?  Who would do such a thing?

Frankly, we don’t think they are incompetent or trying to harm themselves per se.  Rather, they are arguably playing the long game.

How else can one explain the periodic, almost routine episodes of bad news sparked by Clayton, and often funded by groups that Warren Buffett has donated to?

SeattleTimesCenterforPublicIntegrityClaytonHomesManufacturedHomeMHProNews4292019

Carefully discerned, the pattern can logically suggest that Clayton is using bad news as another element of the fabled Buffett Moat strategy.  If so, that means that without warning, bad news can hit the industry, which while suppressing Clayton too, arguably harms other businesses with less financial staying power more.

 

The Four Purported Known Elements of the Buffett Moat Strategy

It could be summed up like this.

  • The power to tax is the power to destroy.
  • The power to regulate, is the power to destroy.
  • The power to choke off or limit access to lending or capital is the power to destroy.
  • The power to stoke bad news that harms individual business can over time involve the power to undermine a business’ value, and destroy marginal operations.

 

These bullets means that Clayton can acquire weakened, underperforming businesses at a discount. Recall what Ted Davis posted: “It would appear that Warren Buffet owns Clayton, and they have bought up several lesser mobile home companies, removing a lot of competition.” He’s a layperson, a consumer – and he sees parts of this pattern.

Then line that up with what award-winning, manufactured housing industry veteran Alan Amy said.

 

 

 

 

As to keeping industry shipments low, consider the odd statement by Richard ‘Dick’ Jennison made that seemingly encourages slow growth and low production totals.

 

 

 

When this writer, who did that video interview with Jennison, heard that coming from the mouth of MHI’s CEO, I had to control my composure.  It was a shockingly questionable statement – at best – for the president of the industry’s largest trade association to make at a time when the industry was struggling to recover. Frankly, it did not dawn on me until years later what the actual meaning of that statement from Jennison was.

In hindsight, it is far more revealing than it was at the time. It explains why he gets bonuses that we’ve dubbed failure bonuses.

That’s why history has to be part of such fact-checks.  Buffett is right about this, the rear view mirror is often clearer than the windshield.

In the light of the above, consider the summary graphic about ‘the Moat’ below.

 

UnderstandingWarrenBuffettCastleMoatMetaphorsQuotesDailyBusinessNewsMHProNews

Never forget that even during medieval times, castles and their moats were in fact breached.

 

 

 

Dark Grace…

The argument can be made that each of these examples of ‘black hat’ behavior can be an opportunity in disguise for those willing to behave in a robustly white hat fashion.

There is also an argument to be made that individually or in a local group, white hat firms could forge their own white hat trade group.

There is no need for perfect behavior in business when simple honesty will do. But there is a need for trade groups to have and live up to standards of ethical behavior.  If someone routinely harms the industry’s image, why should they be part of a white had trade group?

For those of us who have been in the manufactured housing business for years, and have dealt with the public directly for years, you know as well as I do that if you treat most people fairly and honestly, they are good customers.  There are a few who sadly try to twist anything to get something for nothing. But they are the exception, not the rule.  Good paperwork can deal with those kinds of clients.

For years, we’ve taught professionals not to oversell or overpromise.  Prepare customers for reality and they will be satisfied.  There is a method for training team members for doing so successfully, where the customers will be happy with what they are sold, and will send you their friends after buying.

Every road block in the industry can routinely be traced back to forces within manufactured housing that are keeping the industry at low ebb.  Who said? Prominent MHI member and controversial critic, Frank Rolfe here and here.

That’s opportunity in disguise.  For those willing to do what’s right, and who aren’t afraid to buck the Omaha-Knoxville-Arlington axis, the upsides are many.  As to risk, there is always some risk.  I can look someone in the eye and tell them about all of the efforts that we believe the evidence suggests how the axis threw a variety of slings and arrows at us, in an attempt to try to drive us out of business.

Yet, we are still standing.

After a dip for a time in readership after an assault from the axis, we’ve not only rebounded, we are about double where we stood a little over a year ago.  Professional readers and investors want the truth.  Our opposition wants to know what’s been published here. Across the spectrum, readers from all sized firms flock here daily by the thousands on the most engaged professional trade media site in all of manufactured housing.

Pros and investors want answers that make sense, not the BS that is being shoved at them by the Omaha-Knoxville-Arlington axis sycophants. Anyone can create an echo chamber, and illusion of cheer leading.  Doing real facts with evidence and ‘follow the money,’ takes time, thought, and preparation.

When there are 7 months of declining shipments during an affordable housing crisis, the nature of the threat and the realities of the industry are becoming more self-evident.

Our efforts – thanks to supporters, sponsors, and sources that are often within the axis – in turn gives hope and encouragement to others. Furthermore, it isn’t just us, because other firms have stood up to the Omaha-Knoxville-Arlington axis and can say similarly.

Let’s note briefly a plug with a purpose.  Just as a talk radio station doesn’t expect a sponsor to endorse them, nor does a station endorse the sponsor, so too here there are no requirement that someone has to agree with what we publishSponsors and clients can still benefit from the industry’s biggest and most engaged audience.

CaseyMackTonySoheylaMHProNewsTeamFirstCallDailyBusinessNewsMHProNews

The plug and related business development points aside, and we could do white hats with our marketing/coaching too – leads me to this point. Frankly, I’m convinced that no one in the industry is coming anywhere close to their potential.  Why?

When 8.3 million housing units are needed, per the National Association of Realtor’s Lawrence Yun – and only factory building can logically close that gap – that means that it is possible for single firms on the production side to be doing hundreds of thousands of units a year.  Rollohome went from start up to 60,000 homes delivered in 2 years. If that could be done before, it can be done even better today. That in turn translates into big upsides for retailers or communities.

All business ultimately comes down to a local sale to a local person.  Just as all politics are local, so too all business is local.

A properly motivated company with the right people and resources can rapidly and profitably grow with proven, honest, ethical, and sustainable approaches. That’s the happy note that we will end this report about Clayton on.

What to do about Clayton’s purported black hat tricks and behavior?  Be the obvious local White Hat.  Do the homework. You’ll see that the opportunities are amazing, but one needs the guts and gumption to get the glory.

 

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Manufactured Housing’s Professional Credibility

Manufactured Housing – White Hats, Black Hats, Investing, Consumers, MH Independents

 

New Manufactured Home Professional’s Website Nears Launch

 

Declining Manufactured Home Shipments More Serious Than Retailers, Communities Being Told

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

Warren Buffett, Charlie Munger Video Interview at Berkshire Hathaway Annual Meeting on GSEs Lending for Affordable Manufactured Housing and Clayton Homes

Warren Buffett’s Profitable Lessons for Manufactured Housing

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

 

“Lead, Follow … Or Get Out of The Way”

 

 

 

 

 

 

 

Exploring Corporate, Association, Individual, Investor, and Governmental Corruption Involving Manufactured Housing

January 13th, 2019 Comments off

 

ExploringCorporateAssociationIndividualInvestorGovernmentalCorruptionInvolvingManufacturedHousingDailyBusinessNewsMHProNEws

Go ahead, say it. Naïve, idealistic, rash, foolish, or a crusader who believes that the only way that positive change occurs is by intelligently challenging the status quo.

 

That challenge can and should be honorable, and it can and should be profitable.

So, pragmatism and reason are involved.

Over the years, perhaps more so recently, a periodic stream of tips and sources revealed a variety of insights into what can be termed corruption.

SubmitNewsTipsManufacturedHomeProNewsMHProNewsLogoDailyBusinessNews

Submit confidential or on-the-record news tips, or comments at this linked email mailto:iReportMHNewsTips@mhmsm.com

 

Here are some examples, many of which have not yet been reported here on the Daily Business News on MHProNews previously. But in one or more cases, some of these may have already been turned over to the appropriate authorities.

  • Manipulating credit bureau reports.
  • Kickback schemes involving refurb, transport, or installation – among others.
  • Using undocumented labor in often dangerous ways.
  • Sexual exploitation.
  • Corruption involving local, state, or federal officials.
  • Political, professional, and other forms of backstabbing.

 

I’ve mentioned my brothers on occasion.  My younger brother Tom is rather an activist. We see some things alike, others differently, as is true of any two people.  One thing we’d agree upon is his latest quotation sent in his email ‘signature’ – it is this:

 

He who passively accepts evil is as much involved in it as he who helps to perpetrate it. He who accepts evil without protesting against it is really cooperating with it.”
– Martin Luther King, Jr.

 

One should keep in mind that there are a variety of ways to fight what Donald Tye, Jr. called the rigged system.”  Fighting a rigged system can be as easy as a useful off-the-record news tip. Many of our tips come from major firms that are MHI members.   Support can also take the form of advertising, other forms of marketing, or using our professional business development services.  Our services have been highly praised by third-parties. Want to accelerate the process of positive, profitable change? Help us, help you, so that manufactured housing can advance.

 

RevDonaldTyeJrManufacturedHousingAdvocateQuickestWayWealthIndustryVoicesMHProNews500

 

Because what the recent trends reveal – see the linked reports below – is that accepting the status quo is taking the industry backwards. While a monopolist or the retired may be able to afford that – or may even want that for some period of time – thousands of our readers ought to avoid the risk the continuation of the current trend lines represents.

 

Happy Talk?  Really?

Happy talk doesn’t resolve an actual problem.  That’s like believing that looking the other way means the growing number of roaches you saw in the garage or a room will magically disappear.  Want to get rid of the vermin?  You start by shining a light — watching those roaches run confirms that they exist.  Then you have to use appropriate roach killers, because nothing else will do.

We opt not to live with ugly, nasty pests.

When it comes to people that are pests, obviously, you don’t poison them like you do an insect.

Rather, one must still deal with them in an ethical, lawful, and effective fashion.

ClaytonHomesOakwoodHomesBerkshireHathawayMarketShareofManufacturedHousingEndof2003DailyBuisnessNewsMHanufacturedHousingIndustryProNews

 

Otherwise, they will keep doing what they have been doing.

 

ClaytonHomesBerkshireHathawayMarketShareofManufacturedHousingEndof2017DailyBuisnessNewsMHanufacturedHousingIndustryProNews

Clayton’s blog said that in 2017, they ‘only’ had 47.7 percent of the market share, but other sources place that market share at 50 percent. Rep. Maxine Waters accused Clayton of all manner of things. Let’s see what Chairman Waters will do – as she and other Democrats accused Clayton of being a near monopoly, alleged racism, and predatory lending – now that she heads up the powerful House Financial Services Committee, will she act?

ItsATerribleIdeaHavingCommunitiesOtherDivisionInWithClaytonBerkshireLenders

Comment from one of the top MHI NCC community members to MHProNews.

ManufacturedHousingSHipmentsBloombergQuintFactoryBuiltRebuidRecoveryDailyBusinessNEwsMHproNEws

For more on independent retailers, see a related report about the Atlantic’s research, further below.

 

What’s the Safest Place to Hide?

Why not take the example of Warren Buffett, Kevin Clayton, Tim Williams and the Manufactured Housing Institute (MHI)? Why not hide in plain sight?

See more on that and more in the linked reports below.

We’ve been public in pushing back against the Omaha-Knoxville-Arlington Axis.  While it isn’t always what I’d call fun, we’re still running the marathon.  Translation? Unless you are a monopolist yourself, come on in, the heated pools here in Florida make the water fine.

TheyTheBigBoysThinkTheyOwnUsIndependnetsQuote

Resisting Fear or the Pressure – Publicly

Over the course of several years, there were allegations of this or that person tied to MHI pressured a firm or person into not advertising here, even though they had good results while they did. More recently, an apparent MHI surrogate has asked readers like you to cover your eyes to the truth. Why?  What does that person, or that organization have to hide?

As recently as a week ago, we gave MHI and their top names the opportunity to correct or respond publicly to our reports.  Their reply? Silence.  Maybe they plan on taking the 5th when their time comes?

Fearful? Feel intimidated? Why? They are silent in the face of the evidence. Like roaches with the light turned on, they are looking for cover.

We believe in giving credit where due, that metaphor came from a high-level industry reader who is in MHI, and says they are sick of what’s happening to our once great industry.  That pro and others do what they can.

Why not look at the example of Legacy? While others were self-admittedly fearful, Legacy went to where the largest and most engaged audience in MHVille is – right here on MHProNews.  See more on that, linked below.

YouMHProNewsSeemToHaveConceptualIQThatIsMoreImportantThanSpellingAbilityQuote

Many of these quotes are from MHI insiders.

 

Peeling Away at the Onion

The more we peel away at the layers of the onion, the more evident the patterns of corruption and manipulation appear to be.

These deliberate actions and inactions have arguably cost honest women and men – collectively – billions of dollars annually.  That’s the logic of the math of one Jeff Bezos’ Amazon Alexa Fund.  If the Alexa Fund says that factory-built housing could be a large part of a $330 billion dollar a year market, you do the math.  In 2017, the industry finished with an estimated $6.5 billion in new retail sales. Divide 6.5 into 330 and see what you get.

DearTonySoheylaNoGreaterResourceSpeakstoIssuesOpportunitiesWeFaceAsIndependentRetailersGusRodriguezTejasHomesTX

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

While that’s an imprecise way of calculating how much larger your firm’s sales could be, it sheds third-party light on the topic.  It explains why the consolidators want to squeeze as much market share as they can, before they take the foot off the break pedal.  If they win, you lose.  If they win, watch the day that the foot comes off of that break.  Because we believe manufactured homes could soar to over 1,000,000 shipments a year, in fairly short order.

 

FootOnBrakePedalManufacturedHousingIndustryDailyBusinessNewsMHProNews

By artificially keeping manufactured housing smaller that it should be, through the types of direct and indirect actions we’ve been documenting and reporting in recent years, a few large firms are slowly “consolidating” – monopolizing – this once great industry. It’s happening in other industries too.  But as the report from the Atlantic below reminds readers, it is arguably more visible and pronounced in MHVille.

 

BarryColeMHInsuranceRVMHHallofFameCongratsManufacturedHomeIndustryMHProNews

Note, Barry Cole’s prior anniversary kudos message raises important points. 

 

Recently, an industry pro that this writer had a ‘misunderstanding’ with cleared things up.  That person said he ‘now sees what you guys [MHProNews] are doing.’ We all need some patience with each other, as none of us are perfect – admittedly starting right here. But as Tim Williams and others have noted, once someone points out an error in fact, reason – or typing – we are happy to correct it.  It was patient input from others over the course of years that made us finally see what’s happening in MHVille.  My sincere thanks to those who did.

IfMHProNewsIswritingAboutItIWantToKnowAboutItQuote

The truth can be painful. Perhaps there are times when it may seem merciful to spare someone some piece of information. But unless the truth is known, how can wrongs be corrected?

Accountability is a hallmark of a good business or professional.  Mistakes should be corrected.

Corruption should be rooted out.

ProfessionalBackroundLinkedInProfileRecommendationsQuoteMHProNEws

Without further adieu, let’s dive into the headlines from the reports and articles in the week that was.

NothingIsChangedUntilItisChallenged-768x318

Will we see you at the upcoming trade shows?

 

Reminder, we don’t create a linked-text box around every article, but each one linked below was curated for specific reasons.

 

What’s News on the Daily Business News on MHProNews

 11DailyBusinessNewsMHProNewsLogos

 

Saturday 1.12.2019

Manufactured Homes Shunned by City for Higher Cost Container Housing

Friday 1.11.2019

Useful Manufactured Housing Institute Provided Info, MHI M.O. Revealed

“Huge” February 2019 Manufactured Home Sale Announced, Competes with Louisville, Tunica?

 

Thursday 1.10.2019

Clayton Homes Fights Zoning, for “First Class Manufactured Homes” – Mainstream Media Reports

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

Manufactured Housing Institute on Urban Institute, Bloomberg, National Association of Realtors Reports Praising Manufactured Homes

 

Wednesday 1.9.2019

Mobile Home Replacement Plan Offers Upgrade to Manufactured Homes

Surprising Discovery on Manufactured Housing’s Enhanced Preemption, Hidden Gem$

 

Tuesday 1.8.2019

Chinese Buyers Compete With U.S. Buyers for American Housing, Plus MH Markets Updates

Open Offices? Not So Fast, Per New Study

New Report – More Americans Think Bad Time to Buy, Rentals Soar. Manufactured Housing, Opportunities, Takeaways?

 

Monday 1.7.2019

Allianz’s Mohamed El-Erian Says Globe Slowing, but U.S. “Very Good Place” Economically, Plus MH Market Updates

2019 Trade Shows, Next Battleground of the Manufactured Housing Revolution?

New Era in National U.S. Manufactured Home Community Representation Underway?

Insider Trade During SEC Mandated ‘Quiet Period’ at Legacy Housing Corp

 

Sunday 1.6.2019

Neal T Haney, NAMHCO Then, Now and What’s Next in Manufactured Housing and Land Lease Communities

 

What’s New from MHARR

Independent National Manufactured Housing Post-Production Association Takes Major Step

Production Decline Continues in November 2018

 

 

What’s New on MHLivingNews

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

 

What’s New on the Masthead

Profitably Defeating “the Long Knives” – 2019 New Year’s Resolution for MHVille

 

That’s it for now, kindly check in again tomorrow. Sign up for our industry leading emailed headline news below. See why some of the biggest names are hooked on them, but so too are the mom-and-pops and all others in between.  “We Provide, You Decide.” © ## (News, commentary, and analysis.)

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Tony is the multiple award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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New Association Weighs In, Giving Credit Where It’s Due, Opportunitie$, But Winds of Change Challenge Manufactured Housing’s Future

 

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

Manufactured Housing Institute Housing Alert, Affordable Housing Crisis, MHI’s #NettlesomeThings Response

 

 

 

 

 

 

Read Full Joint Trump-Kim Singapore Summit Statement Here, Dennis Rodman Blasts former POTUS Obama, MH Market Potential

June 12th, 2018 Comments off

JointPOTUSTrumpNoKoKimJungUnStatementDailyExpessManufacturedHousingIndustryDailyBUsinessNewsMhProNews

President Donald Trump and North Korean leader Kim Jong Un signed an agreement at the conclusion of Tuesday’s historic summit,” stated CNBC.

 

The summit in Singapore has been front-page news, as well as a cable and media headline globally.

Reuters says POTUS Trump told Kim they will have a “terrific relationship.”

Nice to meet you Mister President,” Kim said alongside Trump, with a backdrop of North Korean and U.S. flags, per Reuters.

The meeting was hailed by former NBA Star Dennis Rodman, which will be reviewed further below, along with part of the White House pressroom statement to MHProNews, plus potential manufactured housing industry market analysis, and impacts.

 

TrumpKimSummitPhotoFlagsSecPompeoDocumentSigningDailyBusinessNewsMHProNews600

Here’s what the joint U.S. North Korean leadership statement says, according to a photo of Trump’s signed document, per CNBC

 

—- Start of Joint Singapore Summit U.S. North Korean Statement —-

Joint Statement of President Donald J. Trump of the United States of America and Chairman Kim Jong Un of the Democratic People’s Republic of Korea at the Singapore Summit

President Donald J. Trump of the United States of America and Chairman Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea (DPRK) held a first, historic summit in Singapore on June 12, 2018.

President Trump and Chairman Kim Jong Un conducted a comprehensive, in-depth, and sincere exchange of opinions on the issues related to the establishment of new U.S.-DPRK relations and the building of a lasting and robust peace regime on the Korean Peninsula. President Trump committed to provide security guarantees to the DPRK, and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean Peninsula.

Convinced that the establishment of new U.S.-DPRK relations will contribute to the peace and prosperity of the Korean Peninsula and of the world, and recognizing that mutual confidence building can promote the denuclearization of the Korean Peninsula, President Trump and Chairman Kim Jong Un state the following:

  1. The United States and the DPRK commit to establish new U.S.-DPRK relations in accordance with the desire of the peoples of the two countries for peace and prosperity.
  2. The United States and the DPRK will join their efforts to build a lasting and stable peace regime on the Korean Peninsula.
  3. Reaffirming the April 27, 2018 Panmunjom Declaration, the DPRK commits to work toward complete denuclearization of the Korean Peninsula.
  4. The United States and the DPRK commit to recovering POW/MIA remains, including the immediate repatriation of those already identified.

Having acknowledged that the U.S.-DPRK summit — the first in history — was an epochal event of great significance in overcoming decades of tensions and hostilities between the two countries and for the opening up of a new future, President Trump and Chairman Kim Jong Un commit to implement the stipulations in this joint statement fully and expeditiously. The United States and the DPRK commit to hold follow-on negotiations, led by the U.S. Secretary of State, Mike Pompeo, and a relevant high-level DPRK official, at the earliest possible date, to implement the outcomes of the U.S.-DPRK summit.

President Donald J Trump of the United States of America and Chairman Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea have committed to cooperate for the development of new U.S.-DPRK relations and for the promotion of peace, prosperity, and security of the Korean Peninsula and of the world.

 

—- End of Joint Trump-Kim statement. —-

 

Note that the document is not a treaty, which would require ratification by the U.S. Senate. Rather, it is a statement of mutual intentions.   There is much work still to be done, as the White House’s statement to MHProNews admits.

That said, the meetings went smoothly and swiftly, which reflects careful planning.

That’s a bold contrast to the claims of chaos that some in the media have mischaracterized these hopeful developments. Prayers from around the world were reported from a variety of leaders.

Rephrased, the event lays waste to the narrative of many of the ‘destroy Trump’ voices in the media.

The White House press room tells the Daily Business News on MHProNews that “Secretary of State Mike Pompeo [is] OptimisticDonald Trump-Kim Jong Un Summit Will Set [the]  Framework’ for Denuclearization.”

North Korea…has [previously] shown little appetite for surrendering nuclear weapons it considers vital to the survival of Kim’s dynastic rule. Sanctions on North Korea would remain in place until that happened, [Secretary of State Mike] Pompeo said on Monday. “If diplomacy does not move in the right direction … those measures will increase,” according to Reuters.

Secretary Pompeo added: “North Korea has previously confirmed to us its willingness to denuclearise and we are eager to see if those words prove sincere,” stated Reuters.

Fox stated that “In a dramatic interview with CNN’s Chris Cuomo that quickly became emotionally charged, Rodman, wearing a red “Make America Great Again” hat, blasted former President Barack Obama for not taking the North Korean leader seriously.”

 

Former NBA Star Rodman, Former POTUS Obama, Race and POTUS Trump

Five years ago, Dennis Rodman said that the North Korean leader Kim Jung Un told him “certain things” to relay to then President Obama concerning potential negotiations.  But the former president “didn’t even give me the time of day — he just brushed me off, but that didn’t deter me,” the former National Basketball Association (NBA) star player said, after admitting he was “naive” when he first visited the rogue state.

The emotionally charged Rodman recounted blowback and death threats here in the U.S. after he returned from that prior meeting with Kim.  Rodman has made several good will trips to North Korea, that in hindsight may have proven to be useful.

Rodman says he wants to help bring sports to the long-isolated North Korean state.

 

MH Markets Potential?

As Daily Business News evening market watch readers know, investors and markets crave stability and certainly.

A variety of geo-political, domestic economic, and politically oriented news items have periodically roiled the U.S. markets for months. That’s been true, even though the fundamentals of the markets have been strong, business confidence high, and consumer confidence are at record levels.

With jobs roaring back, and the first serious increase in take-home pay and wage growth in years, the “it’s the economy, stupid” advice of longtime Clinton adviser James Carville ought to apply.

As a series of serious signals from cultural figures such as Rodman, Kanye West, Kim Kardashian, and others who are praising the 45th president, can only prove useful for POTUS Trump and his political allies as the midterms approach.

That could in turn translate into more policy progress for the manufactured housing industry. That’s “News Through the Lens of Factory Built Housing.” © Stay tuned. Sign up for our industry-leading emailed headline news, from the link here or below. ## (News, analysis, commentary.)

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Related Reports:

Kanye Controversy, Universal Income, Venezuela, President Trump, Manufactured Housing, First Principles, and You

President Trump Spotlights Factory Home Builder in Speech, Proven Promotion, Support of Industry Advancement

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Sunday Morning Weekly Recap – Manufactured Housing Industry Headline News 4.22.2018 to 4.29.2018

April 29th, 2018 Comments off

SundayMorningManufacturedHousingIndustryHeadlineNewsWeeklyRecap4-22-2018To4-29-2018

 America is going through a time of upheaval. That’s not news, that’s reality.

 

When rapper Kanye West is making headlines for saying that its time for Blacks to get off the Democratic plantation, that’s a signal for just how turbulent the 2018 midterm elections could be.

Don’t count on a normal midterm cycle.  It’s a jump ball. Which major political party wants it the most, and is willing to work for the votes?

There’s a rising economy, but big time political shenanigans. Still, the landscape is potentially favorable to a manufactured housing comeback.

In MHVille, HUD Secretary Ben Carson has made the news several times this week, as has the U.S. Supreme Court, which will hear an MH related case.

CPFB, MHARR, and MHI are all in the news too.

A new production center is underway, and it’s going to be forged by and for independent retailers.

Another celebrity and her “mobile home mansion” [sic} is a headline on lifestyle and living focused MHLivingNews.

And a brave totter driver pulling a true mobile home in a tough spot on video are all among the headlines in the week that was.  Check ‘em ALL out…

…and then, last but not least.  The national news that impacts us all, in or out of manufactured housing.  The president’s approval numbers are rising.  Perhaps its because the economy has been steadily improving?  Or the various promises kept, with work being done on more?

Since the GOP Convention, the 45th president has had overwhelmingly bad press.  Love him, fear his agenda, or anything else along the spectrum, Donald J. Trump is as much our president as the 44 Chief Executives before him, going back to George Washington.  It’s worth listening to what he has to say about himself, his agenda, unfiltered. This video is from last night’s rally, courtesy of ABC News.

Now, let’s dive into industry news for the week that was.

What’s New on MHLivingNews

MHLivingNewsImprovedLivingForLe$$taglinedropshadow

PamelaAndersonBaywatchBathingSuitMalibuMobileMansionManufacturedHomeForSaleManufacturedHomeLivingNews

Baywatch Bombshell Actress Pam Anderson’s Famous Malibu “Mobile Mansion” Up for Sale, Photo Spread, Videos

 

April 2018 Featured Articles and Interviews

http://MHProNews.com/featured-articles/april-2018

 

What’s New on the Masthead

HUD Secretary Ben Carson – Manufactured Housing Historic Results – Words, Deeds, and Metrics

HUD Secretary Ben Carson – Manufactured Housing Historic Results – Words, Deeds, and Metrics

 

What’s New on the Daily Business News

DailyBusinessNewsLogoMHProNewsLogo (1)Saturday 4.28.2018


“A New Era of Cooperation and Coordination,” is Promised by HUD Secretary Carson, Saying “I Hear You”

 

Friday 4.27.2018

CFPB Asked to Revisit Manufactured Housing Regulations During Congressional Hearings, Fact Check

CFPBAskedRevistManufactruredHousingRegulationsDuringCongressionalHearingsFactchecks

http://www.mhpronews.com/blogs/daily-business-news/cfpb-asked-to-revisit-manufactured-housing-regulations-during-congressional-hearings-fact-check/

With Solid Economic Numbers, Why Aren’t Markets “Happier?” – plus MH Market Updates

Manufactured Housing Institute “Walk Out,” “Cover Up,” and Shock at their Vegas Event

Manufactured Housing Institute “Walk Out,” “Cover Up,” and Shock at their Vegas Event

“Mobile Home” Case Heading to U.S. Supreme Court, Potential MH Industry Impact Looms

 

Thursday 4.26.2018

Bank of America Small Biz Loans, Insights, Plus Manufactured Housing Market Updates

HUD Secretary Ben Carson Praises Manufactured Housing, and the Manufactured Home Industry’s Importance to Solve Affordable Housing Crisis

Californians Addressing Affordable Housing with $300 Million “Robin Hood” Plan, Including Manufactured Homes, ADUs

Californians Addressing Affordable Housing with $300 Million “Robin Hood” Plan, Including Manufactured Homes, ADUs

“Wealthier Class of Buyers” for Manufactured Homes, Wall Street Journal Video

 

Wednesday 4.25.2018

Sen. Kirsten Gillibrand’s (D-NY) Bill Would Provide Loans at U.S. Post Offices, Plus MH Market Updates

Breakup “Massive Power” of Giants, “Subvert Our Democratic Process” Says Senator Cruz, & MH CEO’s Call for “Fully Competitive Housing Access”

Breakup “Massive Power” of Giants, “Subvert Our Democratic Process” Says Senator Cruz, & MH CEO’s Call for “Fully Competitive Housing Access”

Gary Shiffman, Chairman and Chief Executive Officer Sun Communities (SUI), Statement$, Video

Gary Shiffman, Chairman and Chief Executive Officer Sun Communities (SUI), Statement$, Video

Citing Justice Department Ruling, MHARR Calls on HUD to Repeal Regulatory Guidance Documents

Citing Justice Department Ruling, MHARR Calls on HUD to Repeal Regulatory Guidance Documents

 

Tuesday 4.24.2018

Turkish Mobile Home “Totter Driver,” Saluting the Transporters

Turkish Mobile Home “Totter Driver,” Saluting the Transporters

Black Conservative Candace Owens Reacts to Kanye West and “Ideological Civil War,” plus MH Market Updates

Largest 50 Manufactured Home Community Operations, per Manufactured Housing Institute, Analysis

Clayton Homes’ “Robots” – Automation’s Role in Warren Buffett’s Berkshire Hathaway’s “Durable Competitive Advantage” in Manufactured Housing

Clayton Homes’ “Robots” – Automation’s Role in Warren Buffett’s Berkshire Hathaway’s “Durable Competitive Advantage” in Manufactured Housing

 

Monday 4.23.2018

Retailers Are Joining Forces to Build Their Own Manufactured Homes in Former Patriot Plant

Hold Your Wallet, More Democrats Openly Embrace Socialism, Plus MH Market Updates

“Ignorance” at Work, Proposed Code Change Would Impact Thousands

“Ignorance” at Work, Proposed Code Change Would Impact Thousands

Doing Third Party Correctly and Profitably, Monday Morning Manufactured Housing Sales Meeting

Sunday 4.22.2018

Sunday Morning Weekly Recap – Manufactured Housing Industry Headline News 4.15.2018 to 4.22.2018

Sunday Morning Weekly Recap – Manufactured Housing Industry Headline News 4.15.2018 to 4.22.2018

And that’s all she wrote,” for the week that was…

…but watch for some fascinating new and exclusive reports next week.  “We Provide, You Decide.” ©  ## (News, analysis, and commentary.)

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Investor$, Manufactured Housing, and Proof of Concept

March 30th, 2018 Comments off

InvestorsAffordableHousingManufacturedHousingInvestmentsProofOfConceptManufacturedHomeIndustryDailyBusinessNewsMHproNews

There are signals that the tech sector – notably giants such as Facebook and Amazon – could come under greater regulatory or even antitrust actions. The markets have already signaled that such action could take some of the bloom off that rose for investors.

 

Where will capital seeking opportunities flow?

 

For contrarians, one possibility is the affordable housing sector, notably manufactured housing.

 

Investor$, Manufactured Housing, and “Proof of Concept”

Investors often want data, or a demonstration project before diving in. “Proof of Concept” defines such a demo.

What makes manufactured housing (MH) unique is that in spite of the obvious headwinds, Proof of Concept examples abound.

For example, MH Communities are in high demand, and publicly traded companies provide significant and useful data.

SunCommunitiesSUI-InvestorPage11ManufacturedHomeVsSingleFamilyHousingManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

SunCommunitiesSUI-InvestorPageComparetoMultiFamilyHousing10ManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

Sun Communities Annual Data and Manufactured Housing Industry Investor Presentation Highlights

Deals made and pending, such as the ECN Triad Deal last year, or the pending Skyline Champion marriage spotlight recent financial support for deals beyond communities.

ECN Triad Financial Services – Fascinating Facts, Manufactured Home Industry Professionals, Investors

WhatAreManufacturedHomesManufacturedHomeLivingNewsTriadFinancialServicesECNCapital

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

 

Sam Zell’s View of MHVille…

One of the billionaire investment mogul Sam Zell’s rules is, “When everyone is going right, look left.”   It’s worth noting Zell’s deeply involved in manufactured home communities, and has said he hasn’t lost interest in it.

 

SamZellWhenEveryoneIsGoingRightLookLeftQuotePencilHeadItsNotATrailerParkQuoteManufacturedHousingIndustrySamZellDailyBusinessNewsMHProNews

 

While one can debate Warren Buffett’s business practices, what’s not in dispute is his long term view of investments has paid handsome dividends in manufactured housing.  His annual report, is linked below.

Warren Buffett’s Annual Report to Berkshire Hathaway Shareholders, Clayton Homes and Manufactured Housing

While it may seem negative, what is harmful to smaller investors could for a deep pocket investor’s perspective, the “war between the Warrens” points to an increased promise, for those who can read between the lines.

Warren Wages War

Two more outside experts looking in points will suffice to make the case for manufactured housing’s potential.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

There are headwinds, and items to navigate. But in the light of statements like those found in the two short videos below, the potential of manufactured housing is a concept proven with some 22 million Americans, and the fact that billionaires, and billion dollar operations are betting on its future growth.

 

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Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

January 26th, 2018 Comments off

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Stating the Obvious for Clarity. Manufactured housing professionals are busy doing what they do, day-by-day.

People go to work, invest in, or own a business in order to earn a good living.

 

With the affordable housing crisis, the manufactured home (MH) industry ought to be doing far better than it is. Almost everyone in the industry agrees on that point.  The housing crisis is a fact that Skyline-Champion – or others in the industry – point to in their investor presentations.

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

There are two great laws – not fair, or decent, but great laws – that are already on the books that properly used and implemented could propel manufactured housing to the top of the nation’s choices for affordable housing.

Fully implementing those two federal laws would be good for:

  • Federal, state, and local governments that are spending tens of billions annually on affordable housing measures that are unable to keep pace with the growing needs in the U.S.
  • Good for investors, and current manufactured housing business owners, who could profit far more than they currently do, by providing the needed housing in the markets that they serve.
  • Good for realtors, developers, and could prove useful for many small builders.
  • Most of the risk would be born by investors, because once understood, they will grasp the ‘no brainer’ nature of the opportunity.
  • To rephrase, the private sector could profitably solve the housing crisis, so long as the public sector – notably, the federal government – implements these two laws.

Those Two Laws Are?

The Manufactured Housing Improvement Act of 2000 (MHIA 2000) and the Duty to Serve (DTS) Manufactured Housing mandated by the Housing and Economic Recovery Act of 2008 (HERA).

What is keeping these laws from being properly understood and widely implemented?

Simply put, forces inside and outside of manufactured housing.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

The external issues are exacerbated by the fact that the industry’s post-production sector lacks a national association that is actively working for the interests of independent producers, retailers, and communities.

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

The national ‘umbrella’ association – which is the de facto post-production association, is the Manufactured Housing Institute (MHI).

Facts Matter – Mr. Obama’s “Alternative Universe,” Trump Admin, Investors & Politicized Manufactured Housing Data

A recent and detailed example of how they are failing the industry at large – be that failure by accident, arrogance, or design – is linked above.

There are a few things that the HUD could be doing to promote the solution they are legally charged with regulating. They have failed to do so under the now terminated leadership of Pam Danner, J.D., who was the HUD’s manufactured housing program office administrator.

    • The true nature of how manufactured homes evolved from trailers houses in the 1930s to 1950s, to mobile homes in the 1950s to the early 1970s, to modern manufactured housing starting on June 15, 1976 is widely misunderstood within the federal government, as well as by state and local governments.
    • The MHIA 2000 features the so-called “enhanced preemption” which has never been properly implemented. If that one law was being enforced by HUD, it could be a revolution for cities and towns across the country. While the video that follows focuses on ‘upper end’ manufactured homes, the principle – and law – applies to entry level manufactured housing too.
    • The Duty To Serve (DTS) has been throttled by industry politics. See the Tim Williams/21st report linked, further below.

  • In additional to those two laws, FHA lending – part of HUD’s jurisdiction – is not being fully used. As reported last year, there are only two lenders under FHA’s current “10/10” rule that could be making home only (chattel) manufactured home loans.  Those two lenders are both owned by Berkshire Hathaway, Vanderbilt Mortgage and 21st Sources within 21st told MHProNews last year they suspended offering Title 1 loans. FHA needs to revisit that rule, and make Title 1 lending more broadly available to others who will put that law to work for consumers.
  • Finally, other kinds of lending that now exist are not properly understood. The GAO report, linked above, demonstrates that even with higher interest rate chattel loans, manufactured homes are still far more affordable than conventional housing or rentals.

MonthlyHousingCostsGAOConventionalHouseApartmentsRentalHousingManufacturedHomeDailyBusinessNewsMHProNews

fanniemae-2011-chart1-affordable-manufactured-housing-posted-daily-business-news-mhpronews-

The Trump Administration has said that it will be in the business of keeping promises and enforcing the law. They’ve demonstrated a consistent trend of attempting to do exactly that in their first year in office.

With the just announced top-to-bottom review of HUD’s manufactured housing program, the timing is perfect for the industry to spotlight how the Berkshire Hathaway dominated Manufactured Housing Institute (MHI) has routinely failed the industry.  The timing is perfect to underscore how MHI’s failures to properly engage explains in part how the HUD Code manufactured housing program is disappointing in its mission under the MHIA 2000.

The reports linked from this Daily Business News post will outline how those failures have occurred.

A little math explains precisely why manufactured housing has been allowed to flounder.

In a trillion-dollar a year housing industry, Harvard University’s Eric Belksy and others noted some years ago that manufactured housing was poised to surge to the fore-front of housing. When Belsky wrote those words, he knew about the lending problems that already existed at that time.

Simply put, by throttling lending and allowing heavy regulatory burdens to remain in place, Warren Buffett’s Berkshire Hathaway owned companies quickly became the number one producers and retailers of manufactured housing.

Kevin Clayton in the video interview shown explains in his own words how Buffett hated both foreign and domestic competition.  He repeatedly references “the Moat,” and Clayton candidly says that Buffett preaches “the Moat” to his company CEOs.

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

It’s the truth hiding in plain sight.

Buffett supported big government candidates, such as Barack Obama and Hillary Clinton, who in turn supported regulations that – combined with his own choking off of lending to third parties – killed off over time, or forced to sell out for less – thousands of independent communities, retailers and independent home producers.

HUD’s new leadership must be made aware of this pattern.

While this may appear to be political, it is rather a question of crony capitalism at the highest levels.

It is worthy of congressional oversight, which some Democrats have called for too.

Maxine Waters Statement, Preserving Access Manufactured Housing Act 2017, Warren Buffett, Clayton Homes

President Trump has personally signaled in broad terms his willingness to use anti-trust (anti-monopoly laws). This is a bi-partisan issue.

President Raises the M-Word, “Monopoly,” Plus Manufactured Housing Industry Market Update$

The time to free manufactured housing to fully and properly use those two good laws, and implement others on the books such as FHA, could be a new economic boom for millions of Americans.

Implementing those 2 good laws can save taxpayers billions, while earning private enterprise billions.

MHProNews estimates that at current HUD Code manufactured home prices, building the 8 million needed affordable housing units is worth about $500 billion dollars at retail. After taxes and expenses, that’s billions of dollars to the bottom lines of business owners and investors.

That’s why award-winning Alan Amy said the industry’s billionaires are gobbling up manufactured housing.

It’s the truth hiding in plain sight.

By shadow boxing appearing to advocate, when they are in fact failing to be effective for any but a few big players – the Manufactured Housing Institute (MHI) is apparently guilty of being a tool of Berkshire Hathaway and what Maxine Waters and others have called their “near monopoly.”

GSE’s Duty to Serve MH Rigged, Benefits 21st, VMF, Clayton, Buffett’s Berkshire, Harming Consumers & Independents, per MH CEO, Calls for Congressional Investigation

Many believe there is nothing ‘near’ about the monopolistic power of Berkshire Hathaway.

It exists. That’s not a slam on the thousands of good people working for those companies. Many of those Clayton, 21st Vanderbilt staffers are among our thousands of readers.

But the monopolistic pattern ought to be a potential indictment on those who’ve misused their influence and power to the harm of thousands of businesses, millions of consumers, and taxpayers.

The time is now to act to enforce those two good laws.

The time has come clean up the mess that crony capitalism working with MHI and the heavy hand of government has produced.

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We agree with Warren Buffett on the value of the lessons of history, reading and research. Without those deep insights, the wool can be pulled over other people’s eyes. We respectfully disagree with Mr. Buffett’s politics.

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Kovach is the award-winning managing-member of LifeStyle Factory Homes, LLC,
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Both are #1 in their categories.

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Analyst, Investor Action at Skyline – What’s Happening?

May 5th, 2017 Comments off
AnalystInvestorActionatSkylineWhatsHappeningcreditBloomberg-creditdailybusinessnewsmhpronewsmhlivingnews

Credits: Skyline, Pinterest.

For Skyline Homes, a recent rough patch has analysts and investors making moves.

According to the Cerbat Gem, TheStreet downgraded shares of the company from a “c” rating to a “d” rating, in a research note issued to investors late last week.

The move comes as Skyline’s stock price has declined over 26 percent since September 2016, which the Daily Business News has followed closely in the daily market wrap.

Also of note is the announcement regarding the shutdown of their Mansfield, Texas production facility, and the subsequent announcement that Champion Homes will acquire it.

Skyline followed up that announcement on March 9th, saying that it had suspended operations at its Elkhart, Indiana plant.

It’s not that we didn’t have the orders or the business or the customer base,” said Skyline president and CEO Richard Florea. “Despite demand from manufactured housing dealerships and manufactured housing communities, the leased facility used for production prevented daily volumes to reach and maintain profitable efficiencies.

Skyline has taken steps to ensure the 90 or so employees affected by the move are not without work, offering them jobs at other Skyline facilities in Wisconsin or Ohio or connecting them with other job opportunities.”

The SEC filing from Skyline said that the company was unable to profitably operate the 50,000 square-foot facility, which it began leasing from Forest River last year.

Investor Activity 

These developments have investors making moves, with Renaissance Technologies LLC raising its position in Skyline by 51.6 percent in the fourth quarter, now with a value of just over $5 million.

Wells Fargo & Company increased its position in Skyline by 2.5 percent in the first quarter, and now owns nearly 1.2 million shares valued at $11,233,000.

AnalystInvestorActionatSkylineWhatsHappeningcreditBloomberg-creditdailybusinessnewsmhpronewsmhlivingnews

Skyline 1 year look. Credit: Bloomberg.

As Daily Business News readers are already aware, Skyline is also one of the industry stocks monitored each business day. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

 

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RC Williams, MHProNews.

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

Investor Makes Big Moves on Skyline Homes

December 3rd, 2016 Comments off
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Image credits: Wikipedia, Binary Options, Skyline Homes and Equites.com, collage credit, MHProNews.com. 

Venator Capital Management increased its stake in Skyline Corp (NYSE: SKY) by 805 percent in Q2 based on its latest regulatory filing with the SEC.

Venator purchased 466,541 shares as the company’s stock, and now holds 524,492 total shares valued at $4.93 million.

The move follows Skyline’s recent earnings results, where the company reported a 26 percent increase in net sales from continuing operations over the same quarter one year ago, and income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 a $1.5-million increase.

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Ventor, Skyline images are their respective properties, used here under fair use guidelines. Collage and text graphics by MHProNews.

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Credit: LinkedIn.

Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented president and Chief Executive Officer, Richard Florea.

While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.

The Daily Business News has followed news on Skyline recently; including coverage of their 278% stock price increase YTD and the company’s stock price hitting a 52-week high.

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Image collage and text by MHProNews, individual image credits are those of Skyline Homes, and are used here under fair use guidelines. To see their latest quarterly report, please click here or the image above.

As manufactured housing industry professionals and investors know, Skyline Corporation is one of the oldest and larger independent producers of manufactured, modular and park model homes.  It is one of the manufactured housing industry stocks monitored each business day on the Daily Business News.

For Thursday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: for A Cup of Coffee withTerry Decio, Skyline Homes, click here.)

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RC Williams, for Daily Business News, MHProNews.

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

David Einhorn – Is American Business as big a gamble as Poker?

January 8th, 2015 Comments off

David-Einhorn-Bloomberg-Getty-Images=credit-posted-daily-business-news-mhpronews-com-Hedge fund mogul David Einhorn thinks there are similarities between poker, business and ‘gambling’ on the stock market. Although Einhorn plays poker just a few times each year, and usually for charity, he’s had success at the game. In the 2006 World Series of Poker, he placed 18th, winning $660,000. He took third place in another elite $1 million entry tournament, winning $4.4 million.

However, CNN Money  tells MHProNews  that Einhorn, a billionaire, says poker is for fun, and investing is the tougher sport.

Einhorn said he approaches both poker and investing as if he’s solving a puzzle, something manufactured housing professionals might feel some strong kinship to in recent years.

In both poker and investing, there are things you know: The cards in your hand, a company’s financial statements.

Then there are the things you can have a hypothesis about. In poker: What is my opponent thinking? How does he play? In business: What is the agenda of the management of the company? What is the psychology of the other people who own the stock?

You can develop a strategy based on what you know and what you suspect,” he said.

And finally, there is a range of possible outcomes. What cards will come? What’s going to happen in the world? What’s going to happen in the markets? He says to put those ideas together, and you can “solve the puzzle.”

There are some big differences however. “With poker, you have a resolution of the hand within a couple of minutes,” Einhorn said. “Whereas, even if the thought process in investing is very much the same, you’re looking at an outcome that could be 2, 3, 4, 5 years from when you make the original decision. And the mindset related to that is very different.”

In any case, Einhorn’s humble about his poker abilities. Describing one big tournament: “I think I got taken advantage of two or three times, but over three days, that’s not so bad. However, I probably got taken advantage of a few more times that I don’t even realize.”

The 46-year-old Einhorn, an American hedge fund manager, is the founder and president of Greenlight Capital, which he started in 1996 with $900,000. Greenlight has generated about a 20 percent annualized return for investors. Sounds like his hedge fund is a safer bet than Vegas? ##

(Photo Credit: Bloomberg/Getty Images)

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