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

June 12th, 2018 No comments

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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

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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

TwoGreatLawsOnBooksNowUnlockBillionsManufacturedHousingIndustryProfessionalsInvestors550

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.

By L. A. “Tony” Kovach.

Kovach is the award-winning managing-member of LifeStyle Factory Homes, LLC,
parent to MHProNews, and MHLivingNews.com.
Both are #1 in their categories.

Kovach is one of the most endorsed and recommended MH industry professionals in all of manufactured housing.

 

 

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.

ventormajormoveskylinecorpposteddailybusinessnewsmhpronews

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.)

(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.

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)

sandra-lane-daily-business-news-mhpronews-com-75x75-Article submitted by Sandra Lane to – Daily Business News – MHProNews. 

Cash Home Sales Fall to Lowest Level in Nearly Six Years

September 10th, 2014 Comments off

foreclosure sign jillian berman  gettyCash sales comprised only 33 percent of total home sales in June, 2014, the lowest level since Sept. 2008, and a drop of 36.3 percent from June 2013, with the share falling year over year each month since Jan 2013. Before the housing crisis began, according to worldpropertychannel.com, cash home sales averaged 25 percent, peaking at 46.2 percent in Jan. 2011. In June, REO (real estate owned) sales comprised the largest cash sales portion at 55.3 percent, followed by re-sales at 32.5 percent, short sales at 31.8 percent and newly-built homes at 16.2 percent. REO sales comprised 7.2 percent of total June sales, a significant drop from the Jan. 2011 total of 24 percent. MHProNews understands cash sales often reflect investors buying inexpensive properties for resale or as rentals. ##

(Photo credit: Jillian Berman/Getty Images)

Triangle Investor Doubles Manufactured Home Community Portfolio, buying 4 MHCs

August 26th, 2014 Comments off

biz-journals=mike-conlon-cary-based-affordable-communities-group-ivanka-trump-donald-trump-daughter-mhpronews-com-Cary NC based Affordable Communities Group (ACG) president Mike Conlon announced they have purchased 4 more manufactured home communities (MHCs). ACG has bought 16 land lease communities so far in 2014, totaling 1,700 total home sites, bizjournals  tells MHProNews.

What has happened is that a lot of park owners are in their late 60s to 80s and now perceive this as a good time to sell their parks with the economy improving and interest rates low,” Conlon said. Many have owned their ‘mobile home parks’ for 20 years or more and have little or no debt. “I expect this trend to go on for another year or two, assuming rates stay relatively low, which will allow us to push toward 5,000 units next year.”

Conlon states that most MHC owners haven’t kept pace with market rents. Nor did they have or invest the capital to repair vacant homes or bring in new manufactured homes. These are areas that ACG has made up its profit margins. ACG invested nearly $2 million in renovations and repairs to communities it purchased. 89% of his residents own their home, while 11% are renters.

Mike Conlon is shown in the photo with New York businesswoman Ivanka Trump, daughter of real estate mogul Donald Trump, at an economic summit in June in New York City. Last spring, rumors that Trump was in or preparing to enter manufactured housing surfaced, which the Trump Organization then denied, see more, linked here.

Conlon is one of many who are moving on opportunities in the MHC sector, a trend described by the New York Times, Bloomberg and other publications. ##

(Photo credit: Mike Conlon and bizjournals)

Warren Warns, Obamacare Must Go

September 19th, 2013 Comments off

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

(Photo credit: businessinsider.com-Warren Buffett)