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Posts Tagged ‘Small Business’

CFPB Outlines New Regulatory Plan, Review

May 14th, 2019 Comments off

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In a news release to the Daily Business News on MHProNews on 5.12.2019, the Consumer Financial Protection Bureau (CFPB) said the following.

 

 

Consumer Financial Protection Bureau Outlines Plan to Review Rules Under the Regulatory Flexibility Act

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input. Additionally, the Bureau published a notice requesting public input as part of its first RFA review examining the 2009 Overdraft Rule.

In Section 610 of the RFA, Congress specified that agencies review certain rules within 10 years of their publication, and consider the rules’ effect on small businesses. The purpose of the review is to minimize any significant economic impact of the rules upon a substantial number of small entities, consistent with the stated objectives of applicable statutes. At the conclusion of each review, the Bureau will determine whether the rule should be continued without change, or should be amended or rescinded. The RFA requires each agency to invite public comment on each rule undergoing review and to consider specific factors, including:

· The continued need for the rule;

· The nature of public complaints or comments on the rule;

· The complexity of the rule;

· The extent to which the rule overlaps, duplicates, or conflicts with federal, state, or other rules; and

· The time since the rule was evaluated or the degree to which technology, economic conditions, or other factors have changed the relevant market.

The public will have 60 days to comment on the CFPB’s plan after publication in the Federal Register.

The CFPB’s RFA 610 review plan can be found at: https://files.consumerfinance.gov/f/documents/cfpb_rfi_regulatory-flexibility-act.pdf

The Overdraft Rule

The CFPB is also announcing the launch of its first RFA 610 review, which is of the 2009 Overdraft Rule.

In 2009, the Federal Reserve Board issued a rule that limits the ability of financial institutions to assess overdraft fees for paying automated teller machine (ATM) and one-time debit card transactions that overdraw consumers’ accounts. The rule amends Regulation E, which implements the Electronic Fund Transfer Act (EFTA). The Bureau recodified Regulation E, including the amendments made by the Overdraft Rule, in 2011 when the Bureau assumed rulemaking responsibility under the EFTA. Today’s notice seeks comment on the economic impact of the Overdraft Rule on small entities. The public will have 45 days to comment after publication of the notice in the Federal Register.

The CFPB’s notice of review and request for comment on the 2009 Overdraft Rule can be found at: https://files.consumerfinance.gov/f/documents/cfpb_rfi_overdraft-rule.pdf

###

The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives.

That’s this pre-dawn edition of the #1 most-read “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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Related Reports:

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MHI Lender Shakes Up DTS and MLO Rule Discussions

“Accurate, but Misleading” MHI Preserving Access to Manufactured Housing Act Alert – ‘Weaponized New$,’ Fact Check$

 

 

 

 

 

 

 

 

 

16 Tons, and MH Whistleblowers

November 19th, 2018 Comments off

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We’ve entered a new era.

 

But in some ways, it’s a throwback to decades ago, when thousands of workers resembled the message of the classic song, “16 Tons.”

There was a time after slavery ended in the U.S. when workers in various markets – including, but not limited to those in mining – were essentially trapped in ‘company towns.’ You made just enough to keep a roof over your head, basic food, and clothing.

It was the ultimate monopoly. For those who think that a monopoly is no big deal, imagine what America would look like in 10 years if the monopolists won.

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According to Genius, here below are the lyrics to the classic Tennessee Ernie Ford son, which are also shown on screen in the video, posted below.  It was wildly popular in that era, and offers lessons to those who ponder its meaning today too.  You can play the video to hear the music and song, as you read the lyrics.

16 Tons

 

[Verse 1] Some people say a man is made outta mud
A poor man’s made outta muscle and blood
Muscle and blood and skin and bones
A mind that’s a weak and a back that’s strong

[Chorus] You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter, don’t you call me ’cause I can’t go
I owe my soul to the company store

[Verse 2] I was born one mornin’ when the sun didn’t shine
I picked up my shovel and I walked to the mine
I loaded sixteen tons of number nine coal
And the straw boss said “Well, a-bless my soul”

[Chorus] You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter, don’t you call me ’cause I can’t go
I owe my soul to the company store

[Verse 3] I was born one mornin’, it was drizzlin’ rain
Fightin’ and Trouble are my middle name
I was raised in the canebrake by an ol’ mama lion
Cain’t no-a high-toned woman make me walk the line

[Chorus] You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter, don’t you call me ’cause I can’t go
I owe my soul to the company store

[Verse 4]

If you see me comin’, better step aside

A lotta men didn’t, a lotta men died

One fist of iron, the other of steel

If the right one don’t a-get you, then the left one will

[Chorus] You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter, don’t you call me ’cause I can’t go
I owe my soul to the company store

 

 

There was also the era of the “Robber Barons,” which were eventually broken up by antitrust action.

It’s not always as easy to see, but a more complex form of those phenomenon arguably has begun, and is developing today. That emerging trend impacts manufactured housing.

 

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It impacts the vast majority in our industry, including those who work for a conglomerates brands in manufactured housing.  Who says?  Among others, sources within those MH brands.  ICYMI, or need a refresher, you can later read the reports linked from this article for more insights and details.

 

Former Clayton Homes Team, Employees Speak Out – Mainstream Media, Trade Media Reports

 

It’s from deep, well placed Clayton Homes contacts that the stories above and below developed.

 

Clayton Homes and 21st Mortgage’s Manufactured Housing “Spies”

 

It was sources inside and deep within, Cavco, as pros well long standing ties to Cavco Industries, that helped round out and develop the report linked below, along with others from that same post.

 

Hedge Fund’s Cavco Move, and More from Inside MHVille

 

Sources within and tied to MHI have provided MHProNews with insights that have proven useful to thousands of industry readers who’ve wondered, when is manufactured housing actually going to return to something more like the shipment levels of the industry’s glory days?

 

Machiavellian “Godfather” – Sam Zell, Warren Buffett, Capital, Lending and Crossed Lines in Manufactured Housing

 

Insider tips, whistleblowers, and just savvy sources are among those who’ve helped transition the manufactured home industry’s top trade media on the Daily Business News on MHProNews into our industry’s trade media unrivaled leader.  Men and women, workers and leaders from operations of all sizes logon daily by the thousands.

And our third-party traffic logs reveal that for a modest industry, our market penetration is likewise unrivaled. This requires team work.

 

Whistleblowing, Tips and More – Becoming a MH Citizen Journalistic News Source

It’s your industry, and your country. Sound off via:

  • on or off the record news tips
  • expert insights,
  • anonymous document drops,
  • Whistleblowing,
  • and more.
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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:

As a rule, we’re not interested in people’s private lives, unless it directly relates to or somehow impacts an operation, consumers, or the profession in some bright line fashion. For example, when a community manager or owner attempts to coerce sex from residents, that’s a federal fair housing violation, and may violate other civil rights. We’ve reported that as news, as in the example linked below.  But most private activities of professionals, no matter how embarrassing, isn’t what we’re interested in.   Hopefully that helps clarify the news worthy subject matter.

Feds Bring Charges Against Manufactured Home Community Owner

 

The nation and our manufactured home industry are in flux. News tips and feedback – on or off the record – and whistleblowing are part of how we interact with the industry, and that keeps savvy, honest professionals informed.

 

Help Us, Help You

One of our industry’s favorite tag lines, and it isn’t ours, is “Better Together” – because that captures the essence of what should ideally happen — mutual victories through joint efforts.

What ROC USA’s tag line expresses could be rephrased something like these two notions for the industry’s professionals.

  • Achieving Mutual Victories by Wisely Working Together.”
  • Together, Let’s Honestly Protect, Properly Educate and Promote the Proven Affordable Housing Solution, Today’s Manufactured Homes.”

We can’t do it alone, and thankfully, we have had useful support and insights for years.  There have always been willing clients and sponsors, who’ve routinely thanked us for results, along with expert, inside sources that gave us tips, news, documents, evidence, and comments.  Those in turn have helped spotlight the real problems that have held manufactured housing back from its potential.

If you don’t want to shop at the company store of the future, this is the time to step up to the plate. Some more recent examples of MHProNews stories that resulted from industry tips and sources are found below. We Provide, You Decide.”  © ## (News, analysis, and commentary.)

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

 

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Manufactured Home Resident Group President Cautions Against MHAction, Surprising Background Reveal to Manufactured Housing Action

 

Economy – “There Are Some Worrisome Signs That We Must Confront” – Financial Services Chairman Hensarling

June 22nd, 2018 Comments off

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In a statement to the Daily Business News, House Financial Services Committee Chairman, Jeb Hensarling (R-TX) expressed both hope and concerns over the economy.

Hensarling said that “…although our economy is clearly red hot today, there are some worrisome signs that we must confront. Number one, as recently as 2016, entrepreneurship – the provision of startups – reached a forty-year low. We know that IPOs have been on a slide downward. Although we’ve seen a gradual uptick, they are half of what they were 20 years ago.”

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Although we passed a bipartisan banking bill, it is largely a community bank, credit union, and banking bill – when 80% of our business debt comes from investors in our capital markets, not from lending officers in our banks,” Hensarling said.

Small business represents 99% of all business enterprises and half of our U.S. jobs. Surely they are the job engine of America. And when companies do go public, unfortunately, many are withering on the vine,” he stated.

The context was a hearing with Securities and Exchange Commission (SEC) Chairman Jay Clayton.

And so we have a number of challenges. If these businesses cannot find adequate capital, it begs the question, where will the Amazons, the Googles, and the Apples of tomorrow come from? How can we sustain long-term 3% GDP growth without ensuring that we have plenty of these startups in the pipeline?”

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It also begs the question, how will we successfully compete with China – particularly “Made in China 2025” – unless we infuse more reforms into our capital markets? Because we know China is committed to dominating several different fields including high tech, biotech, and artificial intelligence. And we know they have a very healthy IPO market and currently produce roughly a third of the world’s IPOs – IPOs that I think we would much prefer to have in America,” the Texas congressman said.

The topic is a different kind of look at an issue that MHProNews has been spotlighting for over a year.  Namely, the harm that occurs to companies that can’t adequately access capital.

Some of the arguments made by Hensarling could be applied to the harm caused by monopolistic practices.

And another question that we have to ask ourselves and ask the SEC, how can Main Street investors have more opportunities to invest in their futures? How can they invest in great companies when we look at our IPO market and see that so many of our public companies are now older, they’re bigger, they’re fewer? And when they go to the public markets, this is often at a billion dollar valuation when so much of the explosive growth took place as a private company that they were not allowed to invest in. Why was it only the wealthy that managed to invest in these companies on the way up, and not our teachers, our barbers, our farmers, and our first responders?”

We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Related Reports:

Only 3 Options – the Elephant in the Room

 

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

Celebration, Fact Check$, Plus Small Biz Nuts and Bolts on 2018 Tax Changes

January 3rd, 2018 Comments off

TestingTaxCutsCBSDailyBusinessNewsMHProNewsThe National Federation of Independent Business (NFIB) issued the following statement in a release to MHProNews.

President and CEO Juanita Duggan, speaking about the on Tax Cuts and Jobs Act becoming law:

NFIB fought for decades for a real tax cut for small business owners. The Tax Cuts and Jobs Act dramatically improves the way small businesses are treated, delivering hundreds of billions of dollars in tax cuts,” she said.

Small business optimism has been near record highs all year long in anticipation of this moment. Starting in 2018, millions of small businesses will have substantially more money to convert their optimism into investments. They can buy new equipment, increase inventory, pay workers more, create new jobs, and engage in the economic activities that drive the U.S. economy,” per Duggan’s statement.

VPMikePenceNFIBPresidentJunaittaDugganSmallBusinessConfidenceThe Tax Cuts and Jobs Act is a once-in-a-generation achievement. This is a historic day for small business and the country. We are grateful to President Trump for his leadership on this issue, which started even before he took office. Today he fulfilled his promise to cut taxes for American small businesses,” according to the NFIB.

From left-of-center CBS, we learn that the tax cut bill will in fact help the middle class.

As regular Daily Business News readers know, NFIB has over 300,000 members, hundreds of whom are reportedly from the manufactured home industry.

While the tax law will bring changes that are routinely being celebrated, per experts, as good for the middle class and small business, understanding the changes can help maximize benefits for small businesses.

The right-of-center Fox Business video above may prove useful. ## (News, analysis, commentary.)

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

NFIB CEO Junita Duggan – “Small Businesses Must Get a Tax Cut”

October 5th, 2017 Comments off

NFIBUnlockingStrongEconomyForSmallBusinessWithTaxReformJuanitaDugganDailyBusinessNewsMHProNewsTax reform is NFIB’s biggest priority, and we’re working hard to ensure that every small business gets a substantial tax cut,” said Junita Duggan, President and CEO of the National Federation of Independent Business (NFIB).

Last week, Congress and the White House unveiled their framework for tax reform. This is the beginning of a long process, but you can be sure that NFIB will be there to represent your [NFIB member] interests every step of the way,” Duggan said in a statement to the Daily Business News (DBN) on MHProNews.

As the DBN has recently reported, there are numerous indicators that economic growth under the Trump Administration is accelerating.

SmallBusinessOptimismIndexHighestin37YearscreditNFIB2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Juanita Duggan. Credit: NFIB.

But experts say that there are also potential storm clouds to face if tax reform isn’t accomplished.

So, Duggan’s point is a timely one, echoed by many who share the free market side of economic thought.

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The last time Congress reformed the tax code was 1986,” Duggan stated, adding. “I worked for President Ronald Reagan at the time, and I had a front-row seat to one of the most important policy reforms in history. Very few people outside of the Oval Office believed that tax reform was possible. Then, as now, there were myriad interest groups all seeking to preserve or secure special favors in the tax code. The President knew that the best way to unleash the economy was to simplify the tax code, bring down rates, and allow individuals and businesses to decide how best to invest their money.

Sources at NFIB tell MHProNews that hundreds of manufactured home companies are members of their organization, and that these tax reforms will be useful to them.

 

That [Reagan] tax reform led to the creation of 20 million new jobs, something we haven’t seen since,” NFIB’s president said.

VPMikePenceNFIBPresidentJunaittaDugganSmallBusinessConfidence

NFIB has been deeply engaged with the Trump Administration on tax reform, as a previous report on VP Mike Pence addressing NFIB’s small business owners reflected.

President Reagan and congressional leaders got it right then,” Duggan explained. “That was 31 years ago. Since then the tax code has become a tangled mess, with more than 70,000 pages, higher rates, and countless special provisions. We may not have another chance to fix the tax code for a long time, so we must get it right this time.”

NFIB is educating policymakers, journalists, and the public on how small businesses work,” Duggan told MHProNews, adding, “…The next few weeks are crucial. We’ll be working closely with Congress and the White House to ensure that tax reform starts with small business. They create half the jobs and half the GDP. Ninety-nine percent of all U.S. businesses are small businesses, and three quarters of them file as individuals, not as corporations.”

If the purpose of tax reform is to boost the economy, then it must focus on small business—the engine of the economy.” Duggan invited professionals to “help your own cause by visiting our take action page to contact your legislator.” ## (News, analysis.)

Note: Related article about Steve Forbes on Tax Reform, linked here.

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

VP Mike Pence, NFIB President Juanita Duggan, on Small Business Issues

August 1st, 2017 Comments off

VPMikePenceNFIBPresidentJunaittaDugganSmallBusinessConfidencePresident Trump probably said it best when he said that small businesses in his words, embody the American pioneering spirit and remind us that determination can turn aspiration into achievement every single day,” Vice President Mike Pence said in a speech to the National Federation of Independent Business (NFIB).

Since President Trump was elected back in November, there has been a lot of positive improvements in the economy – especially on the small businesses front.  Regulatory rollbacks are making a difference, as this previous report reflects.

SmallBusinessOptimismSoarsPostElectionNFIB-postedManufacturedHousingIndustryDailyBusinessNewsMHProNews

As long time, careful Daily Business News readers know, the NFIB reports as many – or more – members from manufactured housing as MHI does.  All told, NFIB has some 325,000 members – more than the estimated total number of full time equivalents (FTEs) working in the manufactured housing industry. To see the previous report, click the graphic above. NFIB = credit.

According to VP Pence’s speech, “Since Inauguration Day I’m pleased to report businesses like those gathered here today have created more than 850,000, new, good-paying jobs all across America.”  It was one of several applause lines reported by the White House to MHProNews.

But will the growth continue if the Trump Administration’s promises of health care and tax reforms are not met before the end of the year?

JackMozloomDirectorMediaCommunicationsNationalFederationIndepBusinessNFIBDailyBusinessNewsMHProNews

Jack Mozloom, image credit is as shown.

Small-business owners are deeply disappointed,” Jack Mozloom, a spokesman for the NFIB, said. “The high cost of health care has been the No. 1 concern for small business owners for more than three decades.”

Without Passing Legislation, Will Confidence Fade?

Job growth appears to be slowing down, says Reuters. While it could be just a small seasonal downturn, it could may be partially due to Congress neglecting to pass any bills on the major issues of healthcare and taxes already.

The NFIB recently released a report which found that the “small business optimism” index is down to 103.6, from May’s 104.5.

Some, like Juanita Duggan and Bill Dunkelberg, believe the drop is likely because small business owners are slowly losing faith in Congress to make any real improvement in the near future.

As Washington fails to deliver on those two priorities small-business optimism is dropping,” said Juanita Duggan, President and CEO of the NFIB. “Gridlock is driving down small-business optimism, which will eventually drive down the economy.”

The number of businesses planning to hire new employees dropped 3 percentage points from May to June. However, the current 15 percent is still higher than has been seen in years.  Hitting 18 percent in May was the highest expected hire rate among small businesses since 2006.

Hiring activity remains strong by historical standards, but the drop in June was unmistakable,” said Bill Dunkelberg, NFIB’s chief economist. “Whether this is the start of a negative trend or a one-month blip is something we’ll have to keep an eye on.”

WilliamBillDunkelbergChiefEconomistNFIBLasVegasReviewJournalDailyBusinessNewsMHProNews

Bill Dunkelberg, NFIB’s chief economist. Photo credit as shown.

High tax rates and the Obamacare health care mandates are all things that hinder small businesses ability to thrive, says the NFIB, and both are issues small business owners have been fighting to reform for decades.

If Congress wants small businesses to invest in the economy, then they must cut taxes and simplify the code,” said Duggan.

Promises of Big Things to Come for Health Care and Taxes

During his speech to the NFIB, Pence heralded good news and more promises of health care reform, with a repeal and replace of ObamaCare, and “one of the largest tax cuts in American history”.

I don’t have to tell small-business owners that the Americans’ tax code is one of the biggest barriers to success for working families and small businesses like all of you.” the White House press office told MHProNews that Vice President Pence said later in the speech.

This all comes only days after the Senate voted against a bill that would have repealed key parts of Obamacare that millions of Trump and GOP voters are unhappy with.  President Donald J. Trump has signaled they aren’t giving up.  Per the speech, neither is the vice president.

But I truly do believe that the strength of America also lies in the courage and in the hearts of men and women who get up every day, put their feet on the floor, and make a small business work. (Applause) And so I want to encourage you on.  Let your voice be heard, but also have faith.” 

Pence urged small business people to pray and work to sustain what they’d already accomplished together, “we’ve begun to see in the recovery of the American spirit and the rebound of the American economy is really just the beginning.  And under President Donald Trump, with your help, I know the best days for America and for American small business are yet to come.”

The full text of his speech, per the White House, is linked here. # #

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz for Daily Business News on MHProNews.

 

 

 

 

 

 

Surprise! President Trump Polling Better than Bill Clinton at This Stage of Presidency; Impact

June 7th, 2017 Comments off

TrumpSurpisesPollstersAgainPostedDailyBusinessNewsMHProNewsAfter months of blistering media attacks, innuendo, protests, and allegations that have turned up no evidence, President Donald J. Trump, has neither resigned nor faced impeachment.  In fact, while polling is fairly low, it is higher – per the Real Clear Politics average – than President Bill Clinton had at this point in his first year of office.

The media’s approval rating is lower still, as is the Congress.

Special elections that many sources breathlessly predicted would yield a Democratic upset, have all so far been won by the GOP.  Another special election race looms later this month in Georgia, which is reportedly close in the polling.

SmallBusinessOptimismSoarsPostElectionNFIB-postedManufacturedHousingIndustryDailyBusinessNewsMHProNews

Credit, NFIB.

Markets Roar

JuanitaDugganPresidentCEONational_FederationIndependentBusiness(NFIB)postedDailyBusinessNewsMHProNews-

NFIB sources tell MHProNews that they have about the same number of manufactured housing industry company members as MHI does. Photo and credit, Juanita Duggan, President and CEO of the National Federation of Independent Business (credit, NFIB).

Perhaps the strongest indicator of President Trump’s job approval are the markets.  They’ve soared since his election.

National Federation of Independent Business (NFIB) President and CEO, Juanita Duggan stated after the election – as they celebrated his win, which is widely welcomed among independent businesses – “What a difference a day makes.”

We haven’t seen numbers like this in a long time,” Duggan said.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments,” as Duggan and NFIB are pushing for tax reform, which along with regulatory relief are among the market drivers. See that recent story, linked here.

Specific measures on manufactured housing connected stocks reaction to Trumponomics are reported at this link here. ##

(Editor’s note: for a new report, analysis and commentary by Soheyla Kovach on the Trump presidency, prior administrations, and the outlook plus needs for manufactured housing under the new administration, please click here).

(Image credits are as shown above, and when provided by third parties, are shown under fair use guidelines.)

 

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.

No End in Sight? Trump Cheers Stock Market Streak

February 16th, 2017 Comments off
NoEndinSightTrumpCheersStockMarketStreakcreditBusinessInsiderGettyImages-postedtothedailybusinessnewsmhpronewsmhlivingnews

President Donald J. Trump. Credit: Business Insider, Getty Images.

With the Dow, NASDAQ, S&P 500 and the Russell 2000 Index all on record winning streaks, many are trying to figure out just how all of this is happening.

President Donald Trump believes that he has the answer.

Stock market hits new high with longest winning streak in decades,” Trump tweeted today.

Great level of confidence and optimism — even before tax plan rollout!

According to Business Insider, the NASDAQ composite index has set a record-high close seven days in a row, which is the longest streak since 1999. Additionally, the S&P 500, the Dow Jones industrial average, and the Nasdaq have all hit closing records at the same time for five straight days, the longest triple winning streak in 25 years.

But the hits don’t stop there.

The markets have not seen a one percent decrease since October 11, which is the longest streak in the last 11 years, and are on the second longest “bull market” run in history, only being outdone by the run from 1987 to 2000.

As Daily Business News readers are aware, consumer, small business and homebuilder confidence are at or above record highs post election, spurred by President Trump’s daily meetings with leaders from all industries and plans for tax and regulatory reform.

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Credit, NFIB.

The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers,” said Lynn Franco, Director of Economic Indicators at The Conference Board.

Consumers’ assessment of current conditions, which declined, still suggests that economic growth continued through the final months of 2016. Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized.

The level of confidence is being backed up by hard data, with recently released retail sales numbers also beating expectations.

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Donald Trump with Softbank CEO Masayoshi Son. Credit: CBS News.

With taxes, Trump referenced releasing “something phenomenal in terms of tax in the next two to three weeks” while meeting with retail and airline CEO’s last week.

This statement helped to move markets higher, as Wall Street and others anxiously await a detailed tax plan. President Trump has said in the past that he would like to lower the corporate tax rate to 15 percent from the current federal rate of 35 percent.

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Juanita Duggan. Credit: NFIB.

 

 

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.

For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

 

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RC Williams, for Daily Business News, MHProNews.

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

Small Business Optimism Index Highest in 37 Years

January 16th, 2017 Comments off
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Credit: Business Financial Services.

America’s small businesses are very optimistic.

Per Bloomberg, The National Federation of Independent Business’s (NFIB) index jumped 7.4 points last month to 105.8, the highest since the end of 2004, from 98.4.

The December numbers represent the largest rise in optimism since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election.

Rising confidence adds to the economy’s upward momentum,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.

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Juanita Duggan. Credit: NFIB.

The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to data from the NFIB. More companies also said they plan to increase investment and keep hiring, which reflects optimism surrounding President-elect Donald Trump’s plans of spurring the economy through deregulation, tax reform and infrastructure spending.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.

The report from the NFIB is based on a survey of 619 small business owners through December 28th. According to the Small Business Administration (SBA), small companies represent 99 percent of all U.S. Employers.

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Credit: NFIB.

Business owners who expect better business conditions accounted for 48 percent of the overall increase,” said NFIB Chief Economist Bill Dunkelberg. “The December results confirm the sharp increase that we reported immediately after the election.

The Manufactured Housing Industry Speaks

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Voices from around the manufactured housing industry also expressed optimism in the wake of President-elect Trump’s November win.

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Jim Clayton, credit, MHProNews.

 “The economy, regulations, and politics need disruptingStay tuned,said Clayton Homes Founder Jim Clayton.

I have become increasingly pleased with the outcome, but tempered that with cautious optimism.

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D.J. Pendleton. Credit, MHProNews.

It’s the dawning of a new day. After the shock and elation or disappointment wash over us, and we all have taken a collective deep breath, we can begin looking to the future. And in that future I think it is safe to say that changes, well, they are a comin’ in,” said DJ Pendleton, Executive Directory of the Texas Manufactured Housing Association.

“For any who might not yet be aware, in addition to President-Elect Trump heading to the White House, both the House and Senate will now be controlled by a Republican majority. All three branches of government are in Republican control. What will this mean? It simply means that there is little in the way of the Republican policy agenda.

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MHARR president and CEO M. Mark Weiss. Credit: MHProNews.

With a personal background in business, rather than government, Mr. Trump, during the just-ended campaign, has been a consistent critic of innovation-stifling and job-killing overregulation and regulators who ignore or rationalize the far-reaching negative impacts of such regulations on the health of the economy, smaller businesses and consumers,” said MHARR President and CEO M. Mark Weiss.

For more from the manufactured housing industry on the election and the economy, click here. ##

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RC Williams, for Daily Business News, MHProNews.

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NFIB By The Numbers: Trump, Clinton and Small Business

October 20th, 2016 Comments off
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Credit: MHProNews.

As part of their “Election Center” feature, the National Federation of Independent Business (NFIB) has published Who Will You Choose? Presidential Issue Comparison, that analyzes each candidates position on issues that are important to small business.

The data is pulled directly from candidates’ plans.  NFIB notes that they don’t endorse candidates for the highest office in the land, but they do provide a head-to-head comparision, so their members can make an informed choice.

So, where do they stand? Let’s take a look.

Income Tax Rate

Trump: Proposes reducing the number of tax brackets to three: 12%, 25%, and 33%.

Clinton: Proposes a new tax surcharge on high-income taxpayers effectively raising the top rate to 43.6%. Proposes increasing capital gains taxes and implementing the “Buffett” rule to enact a new minimum tax rate on those with over $1 million adjusted gross income.

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Hillary vs Trump – credit BBC.

Business Tax Rate

Trump: Proposes a new 15% business rate that would apply to corporations and pass through businesses.

Clinton: Proposes no change in corporate tax rates.

Estate Tax

Trump: Proposes elimination of the Estate Tax, but capital gains held until death will be subject to tax, with the first $10 million tax-free as under current law to exempt small businesses and family farms. 

Clinton: Proposes restoring the federal estate tax to 2009 levels and create new brackets for estates over certain sizes: 45% for estates over $3.5 million, 50% for over $10 million, 55% for over $50 million, and 65% for over $500 million.

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Regulation

Trump: Proposes eliminating the EPA’s Waters of U.S. rule and Clean Power Plan rule.

Clinton: Supports the EPA’s Waters of the U.S. rule and Clean Power Plan rule and proposes additional measures to transition U.S. energy sources to renewables.

Health Care

Trump: Proposes repealing the Affordable Care Act and replacing it with Health Savings Accounts.

Clinton: Proposes expanding the Affordable Care Act by creating a new “public option” government-run insurance plan. She proposes increasing tax credits to assist with health insurance premiums. She also proposes allowing people over 55 buy into Medicare.

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For Frank Griffin’s report on this issue, complete with videos, please click here. Credit: Wikipedia.

Energy

Trump: Proposes opening onshore and offshore leasing on federal lands.

Clinton: Proposes putting additional regulations on oil and natural gas development.

Paid Leave 

Trump: Proposes expanding unemployment insurance (UI) programs to pay for six weeks of maternity leave. Trump proposes paying for increased leave by eliminating fraud in the UI program.

Clinton: Proposes 12 weeks of paid family and medical leave. Clinton proposes paying for the increased leave with higher taxes on the “wealthy.

We Provide, You Decide.” ##

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RC Williams, for Daily Business News, MHProNews.

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