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Trust in News, Washington Post vs Investors Business Daily Poll Results, MHVille Impacts

February 13th, 2019 Comments off

 

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After proving to be America’s most accurate national poll in the 2004, 2008 and 2012 presidential elections, preliminary results for 2016 show the IBD/TIPP poll has now been the most accurate in each of the last four election cycles,” said Investors Business Daily (IBD).

 

TechnoMetrica Market Intelligence (TIPP) and IBD collaborate in public polling.  Their website shared the following words of praise about their polling with respect to the 2016 election.

 

The gold standard going forward.” — The Hill

IBD/TIPP tracking poll was the only major national poll in November to
give Trump the lead in a race including third-party candidates
.”
 — USA Today

 

For some years, the Daily Business News on MHProNews has tackled the topic of mainstream as well as industry trade bias, ignorance, spin – or outright falsehood.  For example, MHProNews has often cited the work of independent award-winning journalist Sharyl Attkisson, who encourages her readers and viewers to think critically.  Attkisson follows the facts, evidence, and money. She weighs a matter based upon evidence, not opinion.

 

“Check Your Facts,” “Follow the Money” – Journalist Sharyl Attkisson, Fake News, MHVille Takeaways

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Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out the agendas behind various headlines and news sources. 

 

MHProNews takes that a step further, and notes that one should be willing to accept facts across that left-right divide, with a ‘wheat and chaff’ approach. Keep what’s accurate and useful, reject what’s not.

With that backdrop, IBD’s editorial below says that the media needs “more than a Super Bowl ad” to fix its image.

The ad is by the Washington Post, and is a quality production.  But at a time when uber-billionaire Jeff Bezos’ – founder of Amazon, and now into prefab housing – owned Washington Post is laying off staff, they reportedly spent some $5.25 million for an add that ran in the fourth quarter of the Super Bowl, per TheSpun.  All in, the Washington Examiner says that production and related costs could have driven the cost to around $10 million.

Here’s the WaPo “vanity” video.

 

 

Note that the individual points made by the WaPo video are valid ones.  Freedom is served by news, but ONLY if that news is accurate and trust worthy.

PublishingHandPickedInformationCanBeWorsefortheImpressionItMakesOnManufacturedHomesandOurIndustryThanStatingEntirelyFalseInfo-BradLovinNCMHA

To see the 2017 NC report on tornadoes and manufactured homes, click here.

With the table set, here’s what the IBD Editorial and related IBD/TIPP poll had to say, from this link here. We’ll wrap this up with some commentary and analysis further below.

IBDTIPPpollAmericasMostAccuratePollsterMHProNews

— IBD Editorial —

While journalists are getting pink slips across the country, the Washington Post decided to dump a boatload of cash for a Super Bowl image ad that tried to portray the news media as national heroes. Here’s a better, and much cheaper, idea to restore the industry’s shattered reputation: Be less blatantly partisan.

In the 60-second ad, Tom Hanks intones about the importance of journalists against the backdrop of historic events. Thankfully, during these times, the ad says, “There’s someone to gather the facts. To bring you the story. No matter the cost. Because knowing empowers us. Knowing helps us decide. Knowing keeps us free.”

The problem with journalists today, however, is that they aren’t interested in gathering facts or empowering the public with knowledge. Instead, they are interested mainly in pushing their agenda — a basic failing of the profession brought into high relief over the past two years.

Media Bias Kills Trust

The latest IBD/TIPP Poll makes this abundantly clear. The poll asked several questions to gauge the public’s perception of the mainstream news media.

What did it find?

First, that fully half the country says its trust in the media decreased over the past two years. A tiny 8% say it’s increased.

That includes a plurality of independents (49%). Even among Republicans, who’ve long grown accustomed to media bias, 81% say their trust in the press has dropped over the past two years

Geographically, those in the Midwest and the South are mostly likely to say their trust in the press has declined (52% and 57%, respectively) since Trump took office. Men are far more likely than women (54% vs. 47%). And those with incomes over $75,000 (51% of home distrust the media more) more than lower-income households.

These findings alone should be alarming. After all, as any corporate executive knows, you can’t run a successful business when a vast and increasing share of your customer base doesn’t trust the product you are selling.

It gets worse.

Pushing An Agenda

The poll found that more than two-thirds of the public (69%) think the news media “is more concerned with advancing its points of view rather than reporting all the facts.” Only 29% of the public disagrees with that statement.

In other words, nearly seven out of 10 adults in the country think the Post ad’s blather about “gathering the facts” is bull.

That includes 72% of independents, 95% of Republicans, and — surprisingly enough — 43% of Democrats.

There’s more. Fifty-nine percent say that the press covers issues in a way “that seeks to delegitimize the views held by President Trump and his supporters.”

Sixty percent of independents and 93% of Republicans agree with that.

Prejudging Trump

Also, more than half (53%) say they agree that the media “prematurely declared President Trump guilty of collusion with Russia without sufficient evidence.”

On this, too, most independents (55%) agree. So do more than one in five (22%) of Democrats.

Is anyone in the mainstream press paying attention? Apparently not, since they seem to think that the only problem they have is too few image ads.

So, here’s a question for the folks at the Washington Post:

How does “knowing help us decide” when the press clearly isn’t helping the public “know,” but is instead trying to force decisions by spinning stories, massaging facts and pushing an agenda?

The Post would have done journalists — to say nothing of the public at large — a real service if, instead of blowing millions of dollars on a Super Bowl ad, they had put that money into dealing with media bias. They could start by teaching journalists not to be propagandists for the far left wing of Democratic Party.

 

— end of IBD Editorial —

There is no doubt that some in media are propagandists for other political groups, but the bias toward the left is widely perceived by polling such as this one by IBD-TIPP.

But our point goes beyond the political.  For us, it is about providing a factual basis for manufactured housing industry professionals and investors to QUESTION the ‘powers that be’ that have so obviously failed our industry’s independents for many years.

With affordable housing in crisis, and with MHProNews and MHLivingNews having long touted the fact that manufactured homes are the most proven solution, how can the Omaha-Knoxville-Arlington axis look independents in the eye and say with a straight face that they have momentum? Momentum toward what?  More consolidation of smaller firms by larger ones?

 

Instead of rationally discussing or debating the issues, MHI and their Omaha-Knoxville master have done all that they can to duck debate. That includes purportedly working behind-the-scenes to have MHProNews barred from the Louisville Show.

 

Midwest Manufactured Housing Federation Official Louisville Show Communique to MHProNews

Why are MHProNews articles often longer and packed with facts, quotes, data and third-party references?

Precisely to give readers more confidence in what is being presented. That’s also why we give the MHI and their dominant powers the opportunity to comment, clarify – or if they can, refute – what is presented here for professionals and investors.

That’s food for thought on national as well as industry politics and media. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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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 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.

(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.

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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

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Related Reports:

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

Understanding the News as Business, and Manufactured Housing

Back to Basics – What is Classical Liberalism, and What Can It Mean for Manufactured Housing Growth?

“Shadows of Liberty” Movie Introduction, Affordable Housing, and You

 

 

 

 

 

 

 

Dodd-Frank: Clintons, Buffett, Trump and What it all Means

December 5th, 2016 Comments off
doddfrankclintonsbuffetttrumpandwhatitallmeanscreditthewhitehouse-postedtothedailybusinessnewsmhpronewsmhlivingnews

President Obama signs Dodd-Frank into law. Credit: The White House.

With President-elect Donald Trump set to take office in a few weeks, one of the issues front and center is Dodd-Frank and what will happen to the legislation, which Senators Elizabeth Warren (D. MA.) and Bernie Sanders (I. VT.) have vowed to defend.

The issues, opinions, perspectives and points of reference abound.

Patrick J. Richard provided his take in American Banker, making the case that dumping Dodd-Frank could restore executive accountability to the financial sector.

doddfrankclintonsbuffetttrumpandwhatitallmeanscreditamericanbanker-postedtothedailybusinessnewsmhpronewsmhlivingnews

Patrick Richard. Credit: American Banker.

Absent from the debate over rolling back Dodd-Frank,” wrote Richard, “is recognition of how a regulatory recalibration – restoring balance between risk and rules – would also restore more personal responsibility on the part of financiers.

Richard used Warren Buffet and Berkshire Hathaway as an example of risk/rule balance in action, including Buffet’s line from his 2004 annual letter to shareholders that said “After all, who ever washes a rental car?

The ‘rental car’ in the oft-used expression could be a metaphor for the current financial services industry,” wrote Richard. “It has been so influenced by government regulation since the crisis that executives and boards of directors perhaps feel less ownership and accountability for its performance. Good governance recognizes that executives should treat the bank’s investments at least as carefully as their own money – or car.

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Parady of CFPB logo – credit, Plus 1 Properties. Cartoon collage credit, MHProNews.

Buffett referred to the importance of aligning executive and director incentives with shareholder interests in his 2004 letter.  In it, he made clear that all Berkshire Hathaway directors purchased their holdings in the markets just as normal shareholders did and that Berkshire Hathaway does not carry Directors & Officers liability insurance.

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Warren Buffett, President Obama, credit – Motely Fool.

Buffett’s approach here is simple but far-reaching,” wrote Richard. “Directors and officers put ‘skin in the game’ and hold the same economic upside and downside as shareholders. They also face personal liability and full accountability for the legal ramifications of any misdeeds. Directors and officers do the right thing in part because it is in their personal interest to do so.

Richard also shared how this equation is more complicated for banks, as they treat shareholders and depositors as key stakeholders, even though their interests can be at odds. In part, this ties into the “why we need it” narrative of Dodd-Frank regulation. 

In reaction to the financial crisis, Dodd-Frank produced a blizzard of regulations to proscribe a litany of behaviors. But this approach has proven costly, complicated, stifling to innovation and susceptible to gaming,” wrote Richard. “Worse, it may have actually undermined executive accountability: The CEO in effect becomes a compliance manager rather than driver of key business decisions, often left to rely on the secondary assurances from risk managers and other mid-level managers.

Richard sums up his take by stating that massive regulation offers the opposite of the Warren Buffett approach. “By creating a system of highly detailed regulations that no CEO or board could recite, let alone master, Dodd-Frank and other regulatory schemes empower specialists, lawyers and bureaucrats,” wrote Richard.

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Hilary Clinton. Credit: AP. 

Understanding the Clinton Connection

A recent editorial from Investor’s Business Daily (IBD) highlights comments from Hillary Clinton at a September Presidential debate, and shows how the Clinton Administration – not the tax cuts during the Bush 43 Administration – set the stage for Dodd-Frank.

In 1995, using the powers of the presidency, Bill Clinton turned the 1977 Community Reinvestment Act into an aggressive program that basically forced banks to lend money to ‘underserved’ communities,” the article said.

Credit: IBD.

Credit: IBD.

That meant those with low incomes who couldn’t necessarily repay a loan.

This is where The Department for Housing and Urban Development (HUD) comes in.

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households,” the article said. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren’t making enough loans to otherwise unqualified minority borrowers. So they played along.

They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates. Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

And the connection is made.

Tax cuts had nothing to do with this whatsoever. Nor did the minor tinkering to the 1930s-era Glass-Steagall law in 1999, which was implicated in none of the major Wall Street insolvencies or subsequent bailouts during the crisis,” the article said.

It’s another die-hard Democratic myth,” IBD stated, “intended to absolve themselves of blame for the crisis. And the economy-killing Dodd-Frank financial regulations passed in 2010 were based on these Democratic myths — which is why we’re now having the worst economic expansion in modern history.

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Credit: Wikipedia, CFPB, HubPages.

MH Connections

Among the overlooked causes for the big slide of manufactured housing from the 372,000+ shipments hit in 1998 to the low ebb of the mid-to-late 2000s was loose lending standards of conventional housing lenders.  Buyers that once would have turned to manufactured homes for their housing, instead used so called “no doc” “liar loans” that boosted conventional housing at the expense of manufactured and modular home production.

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The initial nose-dive of manufactured housing that came after 1998 was due to a large volume of repossessions from poorly underwritten loans.  But the next bite out of the industry’s proverbial apple was equally poor – and far costlier to the U.S. economy and millions of conventional housing owners – loans made on houses that were too risky, and failed. Graphic image credit, Patrick.

As Daily Business News readers are aware, we have followed Dodd-Frank, the Consumer Finance Protection Bureau (CFPB) and its effect on the MH industry closely, including both being in the Trump Administration crosshairs, the CFPB being ruled unconstitutional, and who the Feds and the CFPB are working for on a practical level.

paulbradleycredtimhpronewsstanthonycasehighlightsbattleovercommunityownersrightsvsresidentsrights-dailybusinessnewsThe issue brings a common divide.  Paul Bradley stated his concerns about bringing Dodd-Frank to an end in a new article, linked here, concerned that ending those standards could mean a return to “predatory lending.”

Manufactured homes ready for shipment-credit=wikipedia-postedDailyBusinessNewsMHProNews

Manufactured homes ready for shipment. Image credit – Wikipedia.

On the other side are those – such as award-winning retailer, Alan Amy – who told Inside MH that he believes that CFPB regulations are costing around 30% to 35% more sales of manufactured homes a year. If Amy is correct, that would mean some 25,000 (+/-) new manufactured homes a year. So this issue is front and center for manufactured housing professionals.

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Award winning manufactured home retailer Alan Amy estimated in the video linked above that Dodd-Frank is costing the MH industry – and prospective home buyers – 30% + more sales every year. Credits – Inside MH – MHLivingNews – Sunshine Homes and ManufacturedHomes.com.

We will continue to follow developments regarding Dodd-Frank and the CFPB closely as they unfold. ##

(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.

MH/RV Ranking moves to 7 on IBD Scale

November 3rd, 2015 Comments off

mh ready for shipment  wikipediaInvestors Business Daily (IBD) tells MHProNews that producers of manufactured homes and recreational vehicles have moved up the IBD rankings of 197 industry groups from 120th six weeks ago to the current 7th spot. Termed the Building-Mobile/Manufacturing & RV group, the MH/RV ranking was in the 89th spot just three weeks ago.

IBD specifically notes that Cavco Industries, Inc. (NASDAQ:CVCO), in their recent quarterly filing reported their $0.89 earnings per share was up 46 percent from a year ago, marking the largest gain in five years. Sales rose 38 percent to $192 million. As MHProNews reported in the stock market report of Fri., Oct. 30, Cavco’s stock skyrocketed 19.15 percent to close at $98.60, following the release of their financials. Cavco produces manufactured homes, park models, modular homes, vacation cabins and commercial modular structures.

IBD also notes that the quarterly results for Patrick Industries (NASDAQ:PATK) indicates the company posted earnings of $0.58 per share, up 29 percent from a year ago. Sales for Patrick rose 14 percent to $214.8 million. Acquisitions from the last two years has helped fuel growth. Patrick manufactures and distributes component products to the manufactured housing and recreational vehicle industries.

The Recreational Vehicle Industry Association (RVIA) reported last week that wholesale shipments of RVs hit 27,960 for the quarter, a rise of 12.4 percent from one year ago. ##

(Photo credit: wikipediacommons-manufactured homes ready for shipment)

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

Drew Industries Makes the Grade

September 25th, 2013 Comments off

Combining the manufactured housing (MH) and recreational vehicle (RV) industries together, investors.com ranks the combination 19th out of 197 industry groups that Investors Business Daily (IBD) tracks. The group has seven members but only three are significant, MHProNews has learned. Manufactured housing’s sister business Thor Industries (THO) ranks number one, followed by Winnebago Industries (WGO) in the second spot, and Drew Industries (DW) fills out the third position due to its strong earnings growth over the last three years. Through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies components to the MH and RV industries. Drew closed up in today’s trading, +0.32% to end the session at 43.84.

(Image credit: Drew Industries, Inc.)