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Aptly Named, “Journey’s End,” Manufactured Home Community Tragedies, Wildfires, Video

October 13th, 2017 Comments off
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The chared remains of frames are all that remains on many of the factory-built homes in the Journey’s End community in Santa Rosa. The video will reflect that some homes directly across the street, which appear to be HUD Code manufactured homes, look to be intact.

As a follow up to the wildfire fatality story, linked here, an industry source in California, plus ABC7 News have been informed the Daily Business News about the tragic loss of life and property in Santa Rosa, CA.

James Cook, the manager of Journey’s End, says he tried to get everyone out in time but the fire moved so fast. “We were doing a door to door, knocking on the doors, getting people out and the wife and I were both doing it. There was other members of the park doing it,” he said, per ABC 7.

Hundreds are missing, reportedly dozens have died, and cell service is down in various parts of the area.

The posted videos tell the tale.

Surreal,” was the word used by an industry executive about the images in the video below, who sent the information with a request to stay off the record.

While local media misused some terminology, they did note that the fires wee impacting residential and commercial neighborhoods, not only the manufactured home community. ## (News.)

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

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

Northpoint’s nearly 900 Million Portfolio Being Acquired by Canadian Laurentian Bank

June 7th, 2017 Comments off

BanqueLaurentieneeNorthPointCommercialFinance900MDealManufacturdHousingDailyBusinessNewsFollowing five consecutive years of robust growth and the development of an impressive customer base throughout North America, Northpoint Commercial Finance has recently announced that they are to be acquired by LBC Capital, a subsidiary of Laurentian Bank of Canada,” the company tells MHProNews

The transaction is expected to close before the end of 2017 fiscal year, subject to customary closing conditions, including applicable regulatory notifications and approvals,” a source speaking on behalf of Northpoint stated.

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Jeff Collins EVP Operations. Northpoint Commercial Finance, Manufactured Housing Floorplan Lender.

Jeff Collins, Executive Vice President of Operations, stated, “Our acquisition by LBC Capital is a natural and anticipated part of our evolution as an organization. We were founded in 2012 via private equity, and experienced significant growth over the last five years requiring access to highly reliable capital. Laurentian Bank, in business for over 170 years, is expected to provide us the stability needed to continue our expansion.”

Dan Radley, President and CEO of Northpoint, said, “We’re eager to work with the entrepreneurial team at LBC

DanRadleyCEOPresidentNorthpointCommercialFinanceManufacturedHomeIndustryFloorplanLendingManufacturedHousingIndustryDailyBusinessNewsMHProNews

Dan Radley CEO. President Northpoint Commercial Finance, Manufactured Home Industry Wholesale, Floorplan, Commercial Lending.

Capital, who we align very well with culturally. They are truly excited about our business and committed to the continuation of our value proposition, which includes a passion for customers, speed in execution, and a highly personalized approach to lending.”

RV Pro reported that, “Laurentian Bank of Canada announced the planned acquisition of Northpoint Commercial Finance, which is among the leading U.S. and Canadian inventory finance lenders with a portfolio of approximately $892 millionLaurentian plans to finance the acquisition through a $167 million subscription receipts equity financing and existing balance sheet liquidity.”

As many Daily Business News readers know, Northpoint has extensive numbers of businesses in manufactured housing that utilize their services.  Part of their press release to MHProNews read in part as follows:

About Northpoint Commercial Finance

Northpoint Commercial Finance, with offices in Alpharetta, GA, and Burlington, ON, combines experience with advanced technologies, fresh ideas, streamlined processes, and a customer focus formed specifically for the varied needs and goals of each business. Northpoint’s inventory finance offerings drive sales, enhance cash flow, and improve profitability for both manufacturer and dealers.

Additional details of the Northpoint deal are available at this link here.

More information about Northpoint and their offerings is available at www.northpointcf.com. ##

(Image credits are as shown above.)

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

 

Kevin Clayton at Clayton Homes Takes Buffett’s Big Stage, Video

May 13th, 2017 Comments off
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Credit: FOX Business.

Yesterday, in part one of this series on the “Woodstock for Capitalists,” the Daily Business News focused on several aspects of the business, wit, insights, and politics of Warren Buffett.

Today, we look at Kevin Clayton of Clayton Homes, who even before his featured interview on FOX Business, Warren Buffett spoke highly of Clayton Homes in his annual letter to shareholders on February 25th.

Clayton and Berkshire have been a wonderful partnership,” wrote Buffett.

Kevin Clayton came to us with a best-in-class management group and culture. Berkshire, in turn, provided unmatched staying power when the manufactured home industry fell apart during the Great Recession.”

The Knoxville News-Sentinel also reported that, for the second year in a row, Buffett defended Clayton’s financing practices.

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The tag team that engaged in so-called ‘agenda journalism,’ targeting Clayton Homes, as a way of derailing MHI’s version 3.0 of “Preserving Access to Manufactured Housing.” The report, while flawed, was widely cited by Democrats who opposed the measure and stalled in the Senate.  For insights on MHI’s fourth attempt at passage, click here

In 2015, a joint Seattle Times, Center for Public Integrity and later BuzzFeed News investigation accused Clayton Homes of pushing minorities and others into high-interest predatory loans, which Clayton has strongly denied. The Daily Business News covered that story extensively, separating agenda media hyperbole, faked news fiction from the facts. One of those stories is linked here.  

In his interview with FOX Business’ Liz Claman, Clayton highlighted the fact that they expect to sell in excess of 45,000 manufactured homes this year, doing their part to address the affordable housing crisis in the U.S.

The average new home in America is almost $400,000 now,” said Clayton.

Pointing to their display home, Clayton spoke directly to an ongoing challenge for the industry that needs to be addressed.

What our industry is saying, if that it’s built with the steep-pitch roof, onsite garage, and porch, built to the federal code and to FHA setup standards, it should be financed and zoned just like site-built traditional housing.”

Clayton also shared details on the company’s new “tiny homes,” designed by Mountain Brook, Alabama-based Jeffrey Dungan Architects.

We’ve been working for two years to develop the best tiny homes,” said Clayton.

What’s unique about us, is this home is built to live in permanently and meets your local and state housing codes, which is a huge advantage.”

Clayton and Buffett after the annual paper toss in 2015. Credit: FOX Business.

Among the points absent from the discussion was the Manufactured Housing Improvement Act of 2000 (MHIA), enhanced preemption, and the examples that HUD themselves provided of municipal placement in a university level report, linked here.

Tiny House – Risks, Trends, and Rewards?

ihouse Clayton Green-Bridge-Farm-Chevy-Volt-posted on Manufactured Home Marketing Sales Management MHMSM.com MHProNews.com

The i-House was a highly publicized, widely respected, ‘green’ and vogue concept home. But it fizzled in the market place. See prior Daily Business News report, linked here. In the Green Bridge Farm photo by Jetson Green above, the i-House was paired with an electric Chevy Volt, as a way of underscoring its green features.

The tiny house move by the giant is not a guaranteed lock, as those who recall the Clayton i-House recall the fanfare, which fizzled as a result of all-too-modest sales.  So industry observers are watching this move carefully.

As our regular readers are aware, MHProNews and MHLivingNews have covered the “tiny home” movement extensively, including the potential for big legal trouble for owners and a detailed side-by-side comparison with manufactured homes, highlighting function and value versus fashion.

Clayton Homes is reassuring their prospects for their tiny house that their units are built to a building code, unlike so many on the market that are built to no codes at all.

Others in HUD Code manufactured housing are making their own moves on tiny houses.  Some are built to the HUD Code, some to the ANSI code, and others reportedly to no codes, but still rolling out of HUD Code production centers. The tiny house craze is no doubt fueled by the mainstream media’s love affair with the typically mobile units, while at the same time slighting manufactured homes.

About Clayton Homes

Clayton Homes is the largest producer of manufactured homes (MH) in North America and as noted is a subsidiary of Warren Buffett’s Berkshire Hathaway.

Vertically integrated, the company has several hundred retail centers nationwide, HUD Code and modular production centers. Through its affiliates and family of brands, Clayton builds, sells, finances, leases and insures Clayton-built manufactured and modular homes.  Their retail operation famously also buys products and uses services from other producers.

For the most recent closing numbers on all Berkshire Hathaway – and all MH industry-connected tracked stocks – please click here.

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

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RC Williams.

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

March Update, Applauding MHI President Richard “Dick” Jennison’s Message to MHProNews, Video

February 28th, 2017 Comments off

RichardDickJennisonPresidentCEOManufacturedHousingInstituteMHIAboutLATonyKovachMHProNews2..28.2017First, a programming note. The new Featured Articles in the March issue of MHProNews will go live on the home page this weekend.

Next…

As you can read on the Masthead, in the wake of the death of my wife’s father Tuesday, the Manufactured Housing Institute’s (MHI) President and CEO, Richard “Dick” Jennison allegedly arranged for a message to be sent to us.

We simply had to repay his favor, thanks.

We can certainly share more such videos and other revelations at the appropriate times.

We Provide, You Decide.” ©

Again, the new Featured Articles in the March issue of MHProNews will go live on the home page this weekend.And to all those who have messaged, called and emailed their condolences to my truly better half, our sincere thanks. ##

(Image credits, MHProNews.com)

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

By L. A. ‘Tony’ Kovach, for LifeStyle Factory Homes, LLC – dba MHProNews.com.

Leading by Example in Digital Home Shopping Experience

January 17th, 2017 Comments off
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Skyline Homes logo and images are shown here under fair use guidelines. Text and collage credits, MHLivingNews.com.

A new report notes that Skyline Homes is joining the ranks of those leading-the-charge in manufactured housing by providing a rich, multi-media shopping experience for new home seekers.

The report on MHLivingNews cites research by Contactually and the National Association of Realtors – underscoring how Sunshine Homes, Clayton Homes and now Skyline Homes are listening to the marketplace – by providing what today’s savvy home buyers demand.

To see the new Leading by Example in the Digital Home Shopping Experience report, please click here. ##

(Image credits are as shown above.)

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

(Editor’s Note: MHProNews/MHLivingNews and the Kovach family will be at Booth #221 at the Louisville Show.)

VP Elect Pence Vows Promises Will Be Kept, Jobs, ObamaCare and Regs in Video

January 4th, 2017 Comments off
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Image credits, Live Satellite News, text graphics, MHProNews.

We are in the promise keeping business, said Vice-President-elect Mike Pence at a Capitol Hill News conference today.

Pence told reporters that in keeping with President-elect Donald Trump’s classic three-part agenda for the American people, “Jobs, Jobs, Jobs” that the House and Senate Republicans were already planning moves to scale back on regulations that kill jobs.

Much of the press conference focused on repealing and replacing ObamaCare, which Pence reminded viewers that he and others recalled the broken promises that the health care legislation was passed upon.  He vowed that a market-oriented replacement solution would be put in its place, that would save taxpayers money, as well as protect those who were currently covered under that law.

Democrats have vowed to battle some issues – such as ObamaCare and Dodd-Frank, but could cooperate on others – like infrastructure.  See politically related article, linked here.

The video on this page covers the balance of the details for the start of the Trump agenda.

The Daily Business News has been following post-election results closely, for its impact on stocks, the dollar, builders, small business and consumer confidence.  ##

(Image credits are as shown above.)

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

Harvard Clinton-Trump Campaign Debate & Trump Thank You Tour-Videos

December 3rd, 2016 Comments off

foxpresidentelectsthankyoutourvideostill-postedmanufacturedhousingindustrydailybusinessnewsAmericans just experienced a truly unique election and are now living through a historic transition.  “News” has been called the first draft of history.

The recent election has and will impact everyone and every industry – including ours – as we track here on the Daily Business News and daily industry-connected market report.

Economic growth and job creation are on center stage, as pro-and-anti Trump forces continue to battle it out – not only about the recent election, how and why it occurred – but what explains events like the sudden post-election surge in the stock markets.

The videos on this post focus on three recent events.

The first is the announcement that Carrier will be keeping some 1100 jobs in Indiana that were going to be shipped to Mexico.

The next video is by ABC News, Donald Trump’s first “Thank You” tour stop in key battle ground states.

Finally, the following videos are from or about a Harvard panel discussion that included members of the Clinton campaign team and the Trump campaign.

The first video that follows is a short snippet of the same material found in the second video below.  If you find the first interesting, the second one includes more panelists and thus more insights, talking-points and perspectives.

What is coming into focus is that the pro-Clinton elements of the media are going to continue to use some of the same tactics and talking points that they used during the general election coverage. The only way the president-elect might gain any honeymoon over time is if he gains enough early successes on campaign pledges to mute opposition.

By contrast, the President-elect Trump Transition team is striving to hit the ground running, so that they begin to deliver – as in the case of over 1000 jobs saved at Carrier – on giving all Americans what they promised during the campaign.

If recent history and these videos are any indication, it will be a spirited contest by all involved. The first quarter of 2017 promise to be busy ones, indeed. ##

(Programing note: The December 2016 Featured Articles are live on the MHProNews.com home page.)

(Image credits are as shown above.)

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

Submitted by L. A. ‘Tony’ Kovach to the Daily Business News on MHProNews.

(Editor’s note: analysis and commentary on this site are those of the author, and may or may not represent the views of sponsors. Ads on videos are not those of sponsors of this publication.)

Thanksgiving Day, Markets Closed, POTUS Obama, PE Trump Videos

November 24th, 2016 Comments off
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Image credit: Eid Mubarak, used here under fair use guidelines.

Thanksgiving Day, Thursday November 24, 2016.  There has been a strong post-election rally, leading to numerous records. The most recent manufactured housing industry connected daily market report is linked here.

Yesterday, President of the United States (POTUS) Barack H. Obama issued his final thanksgiving pardon of turkeys.  This whimsical and sometimes witty video has been watched 47,205 times, as of 9:45 AM ET on Thanksgiving Day.

President-elect (PE) Donald J. Trump released this video of hope and healing, his Thanksgiving Day prayer and wishes to the nation.  This video has been watched 794,801 times as of 9:47 AM ET on Thanksgiving Day.

Thanksgiving Weekend reflections are found on the Inspiration blog and will be posted later on the Masthead.  From the team, writers, sponsors and publisher of MHProNews and MHLivingNews, we extend to all the warmest of Thanksgiving wishes and blessings. ##

(Image credit is as shown above.)

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

Submitted by L. A. “Tony” Kovach to the Daily Business News on MHProNews.com.