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Posts Tagged ‘parent company’

Triad Financial Service’s Parent Company, ECN Capital – First Data Report

April 10th, 2018 Comments off

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ECN Capital, the new parent company for Triad Financial Services, has reported year-over-year growth of 14.4 percent in 2017, vs. 2016.

 

That translates into some $466 million in loans.

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Triad formally closed their deal with ECN on December 29, 2017.

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The significance for manufactured housing is this. Unlike some lenders that are focused on ‘buying deep’ – meaning making loans on lower FICO scores – Triad has historically been an “A” paper lender. The profile of the Triad buyer is more like the credit profile of a conventional site-built home.

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Per ECN’s investor Relations website.

KEY HIGHLIGHTS Q4-2017 FINANCIAL RESULTS

  • Triad acquisition closed on December 29, 2017
  • Manufactured Housing (“MH”) industry experiencing increasing orders as consumers recognize the affordable alternative versus site-built
  • Origination projections reflect continued organic growth pace
  • Successfully launched on balance sheet floorplan program in January
  • 19 manufacturers/dealers quickly on board with applications following
  • 2018 guidance for on-balance sheet floorplan funding expected to meet or exceed
  • Actively engaged to implement additional plans to enhance growth
  • Growing servicing penetration
  • Tuck-in MH portfolio opportunities building ($10 mln portfolio purchase in process)
  • Offering complimentary financing products through existing dealer network (i.e. insurance)

The full ECN report is linked here as a download.   ## (News, analysis and commentary.)

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Drew Industries to Release Q1 Financials

April 22nd, 2015 Comments off

drew_industDrew Industries Inc., parent company of Lippert Components Inc., will release its first quarter financial results before the market opens Tue., May 5, 2015, followed by a conference call later that same day at 11 AM EDT to discuss the results and other business affairs, according to rvbusiness.

The question-and-answer portion of the call will be restricted to institutional investors and analysts, although others may listen to a live webcast of the call at www.drewindustries.com. CEO Jason Lippert, President Scott Mereness and CFO and treasurer Joseph Giordano will host the call. The company is headquartered in Elkhart, Indiana.

As MHProNews reported April 10, 2015, Mr. Giordano will be stepping down from his position with Drew at the end of Aug., 2015 to pursue other opportunities. He had previously unloaded 19,500 shares of Drew stock for $1.26 million.

From 38 facilities nationwide, Drew supplies components to the manufactured and modular housing and recreational vehicle industries. ##

(Image credit: Drew Industries, Inc.)

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

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)

Warren Buffett Contributes Billions to Charity

July 9th, 2013 Comments off

Billionaire investor Warren Buffett, as part of his pledge to annually donate to five foundations, donated 17,458,431 of class B shares of Berkshire Hathaway (NYSE:BRKB), worth $2 billion, to the Bill and Melinda Gates Foundation. He donated $200 million of the same stock to the Susan Thompson Buffett Foundation, in honor of his late wife. Additionally, he gave 1,222,085 shares, worth $140 million, to each of three foundations: Howard G. Buffett, named for his son, as well as the NoVo and Sherwood foundations. CNNMoney reports the Gates Foundation has set its sights on alleviating global poverty, with a particular focus on eradicating malaria. BRKB closed today at $115.16 per share. As MHProNews knows, Berkshire Hathaway is the parent company of Clayton Homes, the largest North American producer of manufactured housing.

(Photo credit: Yoshikazu Tsuno/AFP Getty Images–Warren Buffett)

Drew Draws Top RV Industry Number

July 8th, 2013 Comments off

Drew Industries, Inc., (NYSE:DW) had one of the highest return on assets (ROA) of all the recreational vehicle (RV) stocks on the New York Stock Exchange (NYSE). The parent company of Lippert Components and Kinro Inc., Drew has a trailing-twelve-month ROA rate of 9.37 percent, behind Polaris Industries with 22.44 percent return on assets and Thor Industries with a 10.26 percent. According to Benzinga, Drew had $4.03 million in cash for the most recent quarter. As MHProNews, Drew is also a major component supplier to the manufactured housing industry.

(Image credit: Drew Industries, Inc.)

How Much for Lunch? Millions!

June 4th, 2013 Comments off

For the 14th consecutive year Berkshire Hathaway CEO Warren Buffett is auctioning off a power lunch for eight on E-bay, his annual anti-poverty fundraiser that fuels the San Francisco charity GLIDE. The non-profit provides some 800,000 meals each year to the hungry, and has received $15 million since the auction began in 2000. CNNMoney tells MHProNews an anonymous donor last year won the bid for nearly $3.5 million. Bidding began Sunday evening June 2 at $25,000 and reached $130,000 by Monday morning. One of the world’s wealthiest and most generous men, Buffett intends to give away the bulk of his wealth, much of it to the Bill and Melinda Gates Foundation. He has pledges from over 100 billionaires around the world to leave half of their net worth to charity. Berkshire Hathaway is the parent company of Clayton Homes, North America’s largest producer of manufactured homes.

(Photo credit: Clayton Homes)

And Now—Heeeerre’s Warren!!

May 3rd, 2013 Comments off

The esteemed Warren Buffett, Oracle of Omaha, the eminence of income, who worked hard and smart and honestly to make his wealth, according to wallstreetcheatsheet, in an essay published online by Fortune magazine remarks on the incredible economic growth in this country since 1776, and the future importance of gender equality in the marketplace. He says the rule of law, capitalism, and democracy was the groundwork that led to the fastest generation of wealth in the history of the world, accomplished while half of our brain power, namely women, were excluded from decision-making roles. He says, “This behavior — the historic relegation of women to the sidelines — flies in the face of what rational actors in a capitalistic economy should do. There are any number of selfish reasons why those at the top of the food chain would wish to reduce competition for those few, cherished top spots. But at the end of the day, opening up the competitive field to all participants will yield the best results. The closer that America comes to fully employing the talents of all its citizens, the greater its output of goods and services will be. We’ve seen what can be accomplished when we use 50% of our human capacity. If you visualize what 100% can do, you’ll join me as an unbridled optimist about America’s future.” As MHProNews knows, Buffett is Chairman of Berkshire Hathaway, the parent company of Clayton Homes, the largest producer of manufactured homes in North America.

(Photo credit: businessinsider)

Drew Set to Release Q4 Results

February 7th, 2013 Comments off

RVBusiness informs MHProNews Drew Industries, Inc. of White Plains, NY will release its financials for Q4 2012 before the market opens on Wed. Feb. 20, and then host a conference call that same day at 11 AM ET for institutional investors and analysts. Others may listen to a live webcast of the call by contacting the company. Drew is the parent company of Kinro Inc. and Lippert Components, Inc., which supply the MH and RV industries with doors, windows, and other components.

(Image credit: Drew Industries, Inc.)

Drew to Report Financials

October 17th, 2012 Comments off

RVBusiness says White Plains, NT-based Drew Industries, parent company of MH and RV suppliers Lippert Components, Inc. and Kinro, Inc. will release its third quarter 2012 corporate financial report prior to the market opening Oct. 31. A conference call will follow that same day at 11 AM eastern time, although question-and-answer participation will be limited to institutional investors and analysts. A live webcast will be available to all others interested. As MHProNews reported Oct. 3, Drew Chairman Leigh J. Abrams and other board members and officers rang the closing bell at the New York Stock Exchange Oct. 5, 2012 in honor of Drew’s 50th anniversary as a       publicly traded company.

(Image credit: Lippert Components, Inc., and Kinro Inc.)

Affiliated Managers close up, while most MH stocks slide

August 14th, 2012 Comments off

credit-cnnmoney-real-tick-posted-mhpronews.com-CNNMoney tells MHProNews that the Dow rose to 13,172.14+2.71 / +0.02%. The rise puts the Dow up +7.81% year-to-date. The Yahoo! Financial Manufactured Housing Composite Index rose +2.11 to close at 996.0. Affiliated Managers Group lead gainers116.07  +0.45(+0.39%), while other tracked stocks lost ground today before the closing bell. Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway Berkshire Berkshire Hathaway 127375.00 -5.00‎ (0.00%‎), but rose +5.00 in after hours trading. Cavco slid to $ 46.06 -1.13  (-2.39%).  Champion Home Builders, Deer Valley Homes, Liberty Homes, Nobility Homes, Palm Harbor Homes and UFPI all remained unchanged. Drew Industries 28.84 -0.11(-0.38%). Equity LifeStyle Properties, Inc. (ELS) 69.10  0.02(0.03%)and slid a fraction after Hours: 69.02  0.01 (0.01%).  Louisiana-Pacific Corp. (LPX) 12.51  0.05(0.40%) but rose +0.05 (+0.42%) after hours.. Skyline Corp. (SKY) 4.55  -0.15(-3.19%). Third Avenue Value Fund (8.13) 46.85 -0.03(-0.06%). UMH Properties Inc. 11.01  0.10(0.90%). Universal Forest Products Inc. (UFPI) 33.31 0.00(0.00%). ##

(Graphic credit: CNNMoney/Real Tick)