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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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What Does Doing Your Job Looks Like in Manufactured Housing?

May 9th, 2019 Comments off

 

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There is nothing wrong with photo opportunities and videos. MHProNews and MHLivingNews have used them too. But photo ops and videos ought to compliment a broader vision, not replace it.

 

There are thousands of videos about manufactured housing online.  There are untold numbers of still images.  But the ones that are negative often outweigh the views of those that present manufactured housing in a positive light.  That in a nutshell summarizes the plight of the industry’s image challenge.

sam-landy-ceo-umh-posted-manufactured-housing-industry-communities-retailing-postedDailyBusinessNews-MHProNews-

Sam Landy, UMH President and CEO.

Sam Landy, JD, President and CEO of UMH Properties (UMH) told MHProNews that marketing is ultimately the responsibility of each individual company.  That is an obvious truism.  It would be nice if a trade group stepped up to do or compliment that effort, but in the current state of industry affairs, that certainly isn’t occurring effectively.  Yes, MHI makes videos or posts photos on Facebook numerous times each week.  But the 7 months of declining shipment numbers tell the tale.

The report last night about Bryan, TX tells another part of the sad tale of the low state of affairs in manufactured housing.  The Arlington, VA based trade group says about itself that: “The Manufactured Housing Institute is the only national trade organization representing all segments of the factory-built housing industry.” Rephrased, they are saying that they address both production and post-production related issues. Hmmm, let’s see.

By contrast, here is what the Manufactured Housing Association for Regulatory Reform says about itself, “MHARR is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing.”

Recast, they are saying that they are a production-issues oriented trade group. Really?  Let’s see.

In the past few days, MHARR has tackled these two issues, published at the links below.

Assistant Secretary Brian Montgomery Removal of Obsolete and Superseded Guidance Documents Letter

New, Revised, and Proposed Energy Conservation Standards and Test Procedures for Manufactured Homes

By contrast, what has MHI published on their website?

Where is the fine Secretary Ben Carson speech delivered at their own Congress and Expo?  As the report linked below reveals, they emailed a few words from it.  But as of this morning at 9:10 AM ET, their own search tool says the same thing as the screen capture below.  That’s largely a post-production speech.  Secretary Carson’s address praises manufactured housing.  Why isn’t MHI promoting it?

Manufactured Housing’s Professional Credibility

 

An online search this morning reveals the Secretary Carson address on MHLivingNews’ site, but not on MHI’s website either.

 

BenCarsonNewOrleansProMHSpeechCongressExpoSearchDailyBusinessNewsMHProNews2019-05-08_2041

This was rechecked today at the time shown, so that’s the latest. Will MHI – out of embarrassment, the desire to do what is right, or for any reason post this pro-industry address on their own website? If so, when? If not, why not?

MHARR is stretching beyond their production issue mandate, to see how they can use targeted efforts to address post-production issues.

Bear in mind that the National Association of Manufactured Housing Community Owners (NAHMCO) broke from MHI, precisely as a vote of no-confidence in MHI addressing issues such as the Duty to Serve manufactured housing.

NealTHaneyNAMHCOWhyBreakawayfromManfuacturedHousingInstituteMHI

But in the world of manufactured home trade media, we are not aware of any that have raised such fundamental and obvious points.  Rather, they have touted MHI – as if they are doing their jobs.

That’s their right to publish what they wish – within the norms of the law and morality – which we respect their right to be wrong in the manner that they ‘inform’ their readers.

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Warren Buffett Urges Government Care For People Who’ve Become ‘Roadkill’ – Video, Analysis

March 29th, 2019 Comments off

WarrenBuffettUrgesGovernmentCareForPeopleWhoveBecomeRoadkillVideoAnalysisDailyBusinessNewsMHProNews

In Hungarian (Magyar) there’s an expression that when translated into English goes something like this,The one making the accusation is the one guilty of the offense.”

Keep that penetrating phrase in mind as you digest what Warren Buffett said that follows.

In an interview with CNBC, Warren Buffett said the following:

 

  • We are prosperity. We should take care of people who’ve become roadkill because of something beyond their control … I think that’s the obligation of a rich country,” Warren Buffett says.
  • He said the benefit of free trade is rather “invisible,” and in fact the policy has done some damage to those dislocated workers.
  • In a country with $65,000 in GDP per capita … you do take care of the people that for one reason or another … have become roadkill…”
  • I’m 100 percent for free trade. I think it has benefited the country enormously and will continue to benefit it. But the benefit of free trade is invisible. … There’s nothing in Walmart that says you saved 8 percent because we bought this somewhere other than American manufacturers…”
  • You have this huge national benefit unseen but you ruined the economic lives of people who are 50 or 55. They are not going to be retrained and relocated … they became uneconomic in the world of economy. Rich countries can take care of those people to follow policies which benefit all of us to take care of the relative few who are dislocated.”

 

The Journalistic Questions…

When trying to unpack what someone is doing, the basic questions of a trained journalist are, “Who, What, When, Where, Why, How, and How Much?” And then “Follow the Money…”

Recall that historically and biblically, money is not evil. Money is considered a blessing. Rather it is the inordinate, disproportionate love of money in an exaggerated way, that is the evil. Making anything that is not God, into a deity to be worshiped, that’s idolatry.

Back to Buffett and his comments. So, who are the ones that promoted that so-called free trade?

If Buffett admits that so-called free trade” has “ruined the economic lives of people,” in what sense is that trade “free?”

There is, as the entitlements system is currently constituted, a taxpayer cost for those who are displaced by “free trade.” Those with multinational aspirations are benefiting from shipping jobs overseas, and then they expect the federal government to take care of those whose lives they’ve helped destroy?

Why do people who want to work feel a loss of a sense of personal value when their job gets shipped overseas or south of the border?  Why do some turn to problematic practices in the wake of that disruption in their lives?

But there is still more to this ruin that hollowed out once great cities like Detroit than meets the eye.

That shipment of jobs overseas slowly erodes the American economy.  A nation must produce in order to have wealth.  If the production is lost, then wealth is lost, albeit it may be lost by many, but still can benefit a select few. Free trade is not ‘free,’ rather, it is ‘costly trade.’  Take one more look.

When jobs are shipped to communist China, for example, there is no less than a triple cost, plus the ripple cost.

  • First, that lost job in the U.S.
  • Second, the taxpayers may end up picking up the tab for entitlements that Buffett and others says he now wants the federal government to make.
  • Third, the U.S. has to pay more for national defense, because we’ve just made – for example – China richer, and part of that Chinese wealth goes into their growing military might. It’s a prescription for slow, national U.S. suicide.

In terms of the ripple effect, U.S. companies that want to stay competitive, now feel they too must buy products from overseas.  Still more American jobs are lost.  The vicious cycle goes on. Free trade? Hardly.

 

Walmart and Clayton Homes

There is nothing wrong with wealth honestly earned. Rather, honestly earned wealth should be celebrated.  But when that wealth is earned through a manipulation of the American economic system, why should the bulk of the people pay for that dislocation which was caused by the mega rich doing the manipulation?

For those who care to recall, back in the 1980s Walmart – Buffett’s example – used to advertise that their products were routinely “Made in the U.S.A.” Planned or not, when they began to shift those purchases to nations overseas, that slogan at Walmart was dropped, but shoppers weren’t told that those products were now “Made in China” or wherever.  Tens of millions were now trained to shop at Walmart.

Independent businesses vanished. Why is it that so many smaller towns, that thrived pre-Walmart, are now becoming ghost towns?  Once Walmart put them out of business, they often closed the local Walmart, only to open a Walmart Supercenter several miles down the road.

It’s another form of the economic moat system that Buffett and Clayton are purportedly using, per their own statements in manufactured housing, linked here, here, and here.

Bulk buying power gave Walmart an edge over smaller, local competitors. Walmart’s strategy that put smaller rural businesses, out of business, is not so different than part of what Clayton Homes has arguably done in several markets. Clayton has closed, per their own information, 100 (+/-) retail centers that were losing money.  Sources have told MHProNews that before closing those stores, in various cases, independent retailers were put out of business first. So, Clayton’s strategic and economic moat was expanded, as more independents were driven out of business.

It must not be forgotten what Kevin Clayton said in the video linked here.  Kevin said that it would be okay with “Warren” if he (Clayton) lost money for 5 years, so long as he was increasing the Clayton manufactured housing moat. Clearly, if it is okay to lose money company wide, then it is obviously okay to lose money at a retail center for a time, so long as competitors are being put out of business.

 

 

Once the Buffett mindset is better understood, what sounds like altruism turns out to be greed in disguise.  If a firm decides to move overseas, why should they dump the cost of those men and women who have been displaced onto the rest of society?  Why isn’t there a provision where the firm has some direct level of responsibility for the economic harm their decision causes?

That’s rhetorical, but it underscores how Buffett and others like him are okay with shipping jobs overseas and letting taxpayers foot the bill. They get to sound caring, when in fact it is those shipping jobs overseas that slowly hollows out America. Play that scenario out to the horizon, and there would be no one working in the U.S., save on minimum wage type positions. Once robotics takes those over, then what?

 

 

While one may agree, disagree, or be neutral about the Trump Administration’s style, the 45th president is arguably right to try to use tariffs, tax cuts, regulatory reforms, and other tools to ‘bring back’ U.S. jobs. By making U.S. energy more plentiful, that makes it less costly. That helps level the playing field between nations that are more energy dependent on others.

Then President Obama mocked candidate Trump, saying ‘what magic wand did Donald Trump have to bring back manufacturing jobs?’  Per then POTUS Obama, those jobs ‘were never coming back.’

POTUS Trump has proven with some 600,000 new jobs in American manufacturing alone in just 2 years, that work like steel, automotive, and other plants can be brought back to the U.S.  The wages of workers is going back up.  Controlling immigration is another example of how POTUS Trump is trying to use the law of supply and demand to help American workers, who are in turn voters.

For those who care more about style than substance, they may never grasp the genius behind the Trump economic plan.  Tariffs historically were part of what protected American industries and made our nation richer than others to begin with.  Keep in mind that tariffs used to pay a huge part of federal expenses, before the income tax and other changes went into effect here in the U.S.

There are arguably plenty of things that need to be corrected in the U.S., that could make this nation into an even greater economic powerhouse. While people like Buffett often praise more taxes on the rich, they themselves escape those taxes, while the rising millionaires end up paying a significant portion of those taxes.

The changes that hobbled America were done slowly, over time, not unlike how Buffett and his moat work slowly and over time. It will take time to unwind the arguably deep harm that was started over a century ago with laws like the graduated income tax, which is a Marxist or socialistic concept. But when one looks a North Korea, or Venezuela, those at the top live like kings, while their people live in poverty, or even desperation.

Rephrased, there is a steady stream of propaganda aimed at millions, including the business and investor class that watches a video like the one from CNBC above.

In diplomatic language, President Trump speaks nicely about North Korea’s Chairman Kim or Chinese President Xi. He’s not praising dictators. Rather, he’s dealing shrewdly, doing very tough business with rough people, using polite diplomatic language. It’s savvy.

The race for 2020 is on.  The Special Counsel Robert Mueller’s probe results not only cleared the Trump campaign and the president himself, it claimed in the brief seen so far that no American was guilty of collusion with Russia.  But frankly, that last part is not quite so.  Some in the Democratic National Committee (DNC) and the Hillary Clinton campaign bought and paid for Russian propaganda that formed the basis of a fake ‘dossier’ that was used as a pretext to spy on a GOP presidential campaign.  The federal government’s spy apparatus was weaponized during the Obama era, and it was done to favor the campaign of Democrat Hillary Clinton.

There are people in both major parties who have done some dastardly deeds, and we as political independents here at MHProNews aren’t blanketly praising or condemning either party.  Each has weaknesses and strength, just as people do, businesses or organizations do. Our weakness is typos. We all have strengths and weaknesses, and rather than hide it, one should make the best of it. That’s why a wheat and chaff approach must be used with all people and all things.

To dot the i, and cross the t on Buffet and his statements above. The man is shrewd, and smart.  But Buffett speaks in a kind of code, or with what some might say is a forked tongue.  What Buffett says sounds compassionate, its arguably deceitful. What Berkshire’s surrogates in manufactured housing say may sound sweet as honey, but once swallowed, it arguably turns sour in the stomach.

The Omaha-Knoxville moat is designed to kill of independent businesses. That’s not compassion. Displacing American workers, to increase a profit margin overseas, that’s not compassion. These vexing issues won’t be fixed overnight.  One must be as long-term in thought as Buffett himself is to defeat this kind of plan and this type of player.

To be forewarned is to be forearmed. We thank those sources in the industry that keep informing us, so that we can keep informing you.

 

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Finally, the rise of some new producers of HUD Code manufactured housing suggests that the moat can be beaten. Certainly, some are willing to engage in the struggle, because they’ve put millions of dollars and their reputations on the line. More on that another time. That’s another episode for today of “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©

 

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‘Green New Deal Fantasy,’ “Revenge Politics,” Says Democrat Schultz Pondering Independent 2020 Run, plus Manufactured Home Stocks

“Death by Government,” Fascism, Communism, Socialism, ‘Big Brother,’ per Williams, Rummel and Owens

 

MH IDEAL, Understanding Manufactured Housing’s Choke Points, Tunica Show Day 3

Affordable Housing Crisis Rages, Sages Sing Manufactured Home Praises, Fix the MH Industry Tricks – Easy as 1, 2, 3

Tunica Manufactured Housing Show, MH Industry Pro Feedback, Day 1

 

 

 

 

 

 

 

 

 

 

Lesli Gooch, PhD, Manufactured Housing Institute EVP Reveals DTS Financing Con Job

March 26th, 2019 Comments off

 

LesliGoochPhDphotoManufacturedHousingInstituteLOGOEVPExposesDutyToserveManufacturedHomesConJobDailyBusinessNewsMHProNews

When asked, manufactured home industry members often say they want more and better lending options.  That’s especially true for personal property, home only, or ‘chattel loans.’  Prospective consumers want more affordable lending. Existing or current manufactured home owners may want to refinance higher rate loans with a Berkshire Hathaway lending brand in order to get a lower interest rate.  So there are an array of those who want better lending options.

 

It is debatable if Executive Vice-President (EVP) Lesli Gooch – who some speculate is the heir apparent to Richard ‘Dick’ Jennison as the next Manufactured Housing Institute (MHI) president – consciously or unconsciously intended to reveal the ‘Big Con‘ in manufactured housing finance with her new article in MHVillage’s MHInsider. 

Regardless, this Daily Business News on MHProNews fact-check will unveil the latest purported fabrication that mixes fact with fiction.  She claims that MHI is actually trying to get more financing options for the industry’s independents.  Is that demonstrably so?

First, let’s see what Gooch said in the March/April issue of the clearly pro-MHI MHInsider.

The purchase and securitization of chattel loans by Fannie Mae and Freddie Mac (the Enterprises or GSEs) is crucial to our industry, and MHI has engaged in years-long effort to push the Enterprises to purchase chattel loans as soon as possible.”  The first part of that sentence from Gooch’s column is a widely agreed to statement, but the accuracy of the second part (i.e.: if MHI is truly pushing for chattel loans by the GSEs “as soon as possible”) is what this fact-check will explore.

With housing finance reform expected to be on Congress’ agenda in the coming year, MHI has positioned the industry well,” wrote Gooch.  Positioned the industry well, for what? Let’s look.

One of MHI’s top priorities for 2019 is to continue to improve the supply of manufactured housing financing, including further progress toward the creation of a secondary market for chattel loans,” said Gooch.

  • If so, why did MHI’s former Executive Committee Chairman Tim Williams say that pursing duty to serve was a waste of time” – in his own prior written statement to MHProNews?
  • Or more recently, Paul Barretto with Fannie Mae confirmed that they had received no data to support chattel loan performance from either of the big two Berkshire Hathaway owned chattel lenders, Vanderbilt Mortgage and Finance (VMF), or 21st Mortgage Corp, which has the same Tim Williams as its president. Doesn’t those facts alone mitigate against Gooch’s bold claim?
  • If the two largest MHI lenders wanted the GSEs to do lending ‘as soon as possible,’ then why didn’t they give their loan performance data as Fannie and Freddie requested?

MHI can’t logically claim to have it both ways.  One or more at MHI in key roles are not being accurate or honest. Other MHI lenders, by the way, did reportedly give the GSEs their loan performance data.  So why didn’t 21st or VMF?  It last factoid should be underscored.  It must never be misconstrued that what some do at MHI, Clayton, 21st, et al is automatically a bad reflection on others. It’s not.  MHProNews strongly believes in separating wheat from chaff.  Both are found wherever you look.

Note that neither MHI, Clayton Homes, nor Tim Williams/21st have denied our published reports in person, or in writing. MHProNews routinely gives them an invitation to do so.  Is that so because there are witnesses and documents that back up our evidence and fact-based assertions?

 

 

Follow the Money

Recall that an inside source recently told MHProNews about an “unholy alliance” to divert Duty to Serve (DTS) manufactured home lending by the GSEs lending options away from most manufactured homes. Gooch claims in MHInsider and elsewhere that MHI is working to expand lending. Then how do they explain that MHI signed onto a public letter recently that asks FHFA to ‘go slow’ on changes with the GSEs?

That letter MHI signed onto with other associations outside of manufactured housing was reported by the mainstream media. What that joint letter says and what Gooch claims are mutually exclusive. MHI can’t have it both ways, logically.  Posturing or claiming something are not the same as doing what’s claimed.

Furthermore, MHI worked behind closed doors with the GSEs to get financing that ended up only useful for the Clayton Homes-backed ‘new class of homes.’ Repeated requests by MHARR or MHProNews to have those minutes released were not honored. If MHI truly wanted to expand lending with the GSEs, then why didn’t they work with the Manufactured Housing Association for Regulatory Reform (MHARR) to get lending on all manufactured homes, not for just a select few manufactured homes?

Rephrased, when viewed against a variety of known facts and evidence there is a gross lack of logic in what Gooch claims, and what the Arlington, VA based MHI trade association has done in recent years.

Recall that a GSE prior “MH Select” program was a dismal failure in the marketplace, per sources at a GSE. Note too that the new breakaway from MHI, NAMHCO hired a lobbyist in part precisely because they don’t think MHI is working to get robust GSE chattel lending for communities, or others. There is scant evidence – beyond mere words – that MHI has tried to get robust chattel lending by the GSE, but considerable evidence to the contrary.

FollowThe MoneyPayMoreAttentionToWhatPeopleDothanwhatTheySaySpySea72MartyLavinYachtManufacturedHousingINdustryProMHProNews

Ask yourself. Do these Marty Lavin dictums apply in this case?

Berkshire Hathaway Annual Report

When you follow the money, for years, the annual Berkshire Hathaway annual report reflects the fact that much of the profits from manufactured housing that they earn are from financing and financial services. Is the industry, or clear and objective thinkers interested in affordable manufactured homes, really going to believe that the Berkshire brand lenders at MHI want to lose profits by having the GSEs compete with VMF and 21st?  Wouldn’t VMF and 21st lose millions of dollars a year if consumers switched their loans from higher interest rates with Berkshire Hathaway lenders to lower rates with a GSE, if competitive rate chattel loans were available for any manufactured homes?

It bears mention that at a San Antonio MHI meeting in 2017, in front of a relative small group of MHI members, Tim Williams specifically said to those MHI members that they (21st, VMF) didn’t want to see the GSEs get the best credit, and leave the Berkshire lenders with lower credits scores and lower profits.  That too contradicts Gooch’s claim.

Thus including from their former chairman, there is plenty of evidence that stands in stark contrast to what Gooch claimed.  Darren Krolewski – publisher of the MHInsider and Lesli Gooch were both at that same San Antonio MHI meeting, per sources.  They where there when Williams from 21st made the statements noted herein and above.  It seems unlikely that they didn’t hear or didn’t know about Williams statements, or the fact that Williams himself admitted that the had given no data to the GSEs.

All of those points contradict Gooch’s claim.  Indeed, it makes appear that her and Krolewski seem to be de facto ‘in on a con job’ – part of the problem, instead of part of the solution.

That leaves honest manufactured home industry members with this vexing conclusion.  Gooch and MHInsider – the first three letters of the publication’s name spell MHI – are deliberately trying to con or head fake the industry into believing something other than what MHI and the Berkshire brands are doing.  Logic alone suggests that Omaha and Knoxville based operations would purportedly thwart rather than promote lending that competes with what 21st or VMF offers.

If Krolewski, who has his own documented challenges with sharing facts accurately and honestly, or:

 

  • Lesli Gooch,
  • Tim Williams/21st,
  • the GSEs,
  • Joe Stegmayer, MHI chairman,
  • any other officials from MHI,
  • their attorneys,
  • or one of the other Knoxville-metro based Berkshire Hathaway brands want to provide evidence of their work that prove otherwise – not mere claims that are easily debunked – let them come to Session 1 of Thursday afternoon’s Fix the MH Industry Tricks meeting. Learn more linked there, or at the links found below.

 

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Ask yourself if this MHI member’s prior statement has been born out in fact-checks like this one?

 

The industry will arguably not achieve its tremendous potential for profitable and honorable growth until a pro-financing, pro-growth national association option exists to MHI.  Learn more at the links, above and below.  Make or modify your plans to attend the historic meetings Thursday afternoon, in Tunica MS near the trade show location, and after the main Tunica Show events are concluded.

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See ‘You’ve Gotta Have Swagger. ‘  You don’t have to be in the #MHM to attend. Click here to RSVP by saying RSVP in the subject line with your name, title and contact information.

That’s what’s new from manufactured housing most read and most trusted “Industry News, Tips, and Views Pros Can Use,” © ## (News, analysis, and commentary.)

 

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