Fleetwood’s Bingham Retires, Plowman Promoted

October 31, 2000 by · Leave a Comment 

Paul Bingham, the CFO of Fleetwood Enterprises Inc. since 1987, has retired and he was replaced by Boyd Plowman, who had been vice president and CFO of Fleetwood Retail Co. since 1997. Bingham, who worked for Fleetwood for a total of 30 years, also held the title of senior vice president for the entire corporation. Plowman, 57, was Fleetwood’s senior vice president and CFO from 1977 to 1987, and he regains those positions at the company. “With Paul retiring, we are fortunate to have Boyd,... Read more

Marcus Sees Higher Interest Rates

October 31, 2000 by · Leave a Comment 

Economist Morton Marcus, a frequent advisor to the RV industry, believes the Federal Reserve will raise interest rates again, no matter who is elected president. Marcus, director of Indiana University’s Business Research Center, said the Fed will raise rates again because Vice President Al Gore and Texas Gov. George W. Bush are advocating tax cuts and/or spending increases by the government that could rekindle inflation. Marcus told the Elkhart, Ind., Rotary Club on Monday (Oct. 30), that the Fed... Read more

National RV 3Q Earnings Down 70%

October 31, 2000 by · Leave a Comment 

National RV Holdings Inc. reported its third quarter earnings were down 70% due, in part, to its sales revenue being down 20% during the period. The Perris, Calif.-based company earned $2.7 million during the three months ended Sept. 30 on sales of $86.7 million. In addition to lower sales revenue, National blamed its lower earnings on “continued sales discounting and an increase in warranty expense.” During the nine months ended Sept. 30, National’s earnings were down 58% to $10.4... Read more

Featherlite Reports $637,000 Loss

October 31, 2000 by · Leave a Comment 

Specialty aluminum trailer and bus conversion motorhome builder Featherlite Inc. reported it lost $637,000 during the third quarter. The company’s loss during the July-through-September period compares with a profit of $1 million earned during the third quarter of 1999. The manufacturer of the Vantare and Vogue brands of bus conversions also reported its third quarter sales revenue declined 3% to $51.7 million. “Our third quarter sales in the luxury motorcoach division were well below our... Read more

Nasdaq Rebounds, Most RV Shares Climb

October 31, 2000 by · Leave a Comment 

A bottom-feeding frenzy led to a sharp increase in the Nasdaq composite and the Dow Jones Industrial Average continued on the upswing Tuesday. Meanwhile, most RV company stocks also climbed, including National RV, which gained 9/16, or 6%, to close at 9 3/8, despite reporting sharply lower third quarter earnings early in the day. Monaco, Coachmen and Holiday RV Superstores also turned in a strong performances. Monaco gained 1, or 6%, to close at 17 1/16 while Coachmen climbed 1/2, or 6%, to close... Read more

Dow Soars, Nasdaq Falls, RV Stocks Mixed

October 30, 2000 by · Leave a Comment 

The Dow Jones Industrial Average gained 245 points, or 2.3%, Monday to reach a four-week high as investors continued pouting money into blue chip stocks. Meanwhile, the Nasdaq composite fell 87 points, or 2.7%, Monday as investors continued to worry about the profit outlook for tech issues. In the RV sector, full-line producer Fleetwood and motorhome-maker Rexhall posted sharp increases Monday. Fleetwood climbed 7/8, or 7%, to close at 12 7/8, while Rexhall gained 7/16, or 10%, to close at 5 1/16. Here... Read more

King of the Road Moves Production to Nebraska

October 30, 2000 by · Leave a Comment 

Chief Industries Inc., manufacturer of King of the Road brand fifth-wheels, has moved assembly operations to York, Neb., from Russell, Kan., according to CEO Robert Eihusen. The plant in Kansas will remain in operation as a service center for owners of King of the Road units, Eihusen said. The move was made because the facility in Nebraska is bigger, 145,000 square feet, compared with 72,000 square feet in Kansas, Eihusen said. The facility in Nebraska also is near the company’s manufactured housing... Read more

Casa Villa Shuts Down Due to Owner’s Illness

October 30, 2000 by · 2 Comments 

Park model manufacturer Casa Villa Inc., Wakarusa, Ind., auctioned off its factory equipment Oct. 4 after shutting down in early July, due health problems experienced by its president, Robert Bozzo. “I’ve been diabetic for five years,” said Bozzo, 58, who founded the company in 1983. “I decided that I needed to take care of myself. I’m going to give myself six months or a year and see if I can get my diabetes under control without all the pressure and then decide what... Read more

Dow Soars, RV Stocks Mostly Lower

October 27, 2000 by · Leave a Comment 

The Dow Jones Industrial Average climbed sharply Friday on the news that economic growth slowed dramatically during the third quarter. Meanwhile, RV stocks were mostly lower and the Nasdaq composite was up marginally. The Dow gained 211 points, or 2%, as investors bought blue chip stocks on the assumption that the Federal Reserve Board will not raise interest rates in the foreseeable future. The Nasdaq, after a strong performance Thursday, inched up 6 points, or 0.2%, on Friday. Here is a roundup... Read more

Full-Time RVers Voting Rights An Issue in Texas

October 27, 2000 by · Leave a Comment 

The Escapees, one of the nation’s largest RV clubs, plans to seek legislation clarifying the voting rights of full-time RVers following a series of court battles in Texas, said Cathie Carr, CEO of The Escapees. The issue came to head in September when Democrats persuaded Polk County (Texas) Registrar Marion A. “Bud” Smith to mail letters to RV club members asking them to prove they lived in Polk County. Some 9,000 Escapees members receive their mail at a Livingston RV park operated... Read more

Economy Cools in Third Quarter

October 27, 2000 by · Leave a Comment 

The U.S. economy cooled to a 2.7% annual growth rate during the third quarter, its slowest pace in 18 months, according to the Commerce Department. In comparison, the economy grew at a 5.6% annual rate during the second quarter; a rate at which the vast majority of economists would say is too fast to be sustainable over the long term. Most economists believe 3% is about the fastest rate at which the economy can grow over the long term, without sparking inflation. Consequently, the slower pace of... Read more

Cruise America Re-Acquired by Smalleys

October 27, 2000 by · Leave a Comment 

Budget Group Inc.’s sale of RV rental firm Cruise America to an investment group including two of Cruise America’s founders was completed Thursday (Oct. 26). Car and truck rental firm Budget sold 80.1% of Cruise America to an investment group including Randall Smalley and his brother, Robert Smalley Jr. Thor Industries Inc. provided financial assistance to the investment group and now is the primary supplier of RVs to Cruise America. Budget retains a 19.9% stake in Cruise America. According to... Read more

Spartan Reports $10 Million Loss in 3Q

October 26, 2000 by · Leave a Comment 

Diesel pusher chassis supplier Spartan Motors Inc. reported a loss of almost $10 million during the third quarter primarily due to the closure of its troubled school bus business. The decision to exit the transit bus business and the soft Class A motorhome market also added to Spartan’s red ink during the three months ended Sept. 30, said Sztykiel, president and COO. The loss of $10 million compares with a profit of $929,000 earning during the third quarter of 1999. Spartan’s sales during the... Read more

Coachmen Reports Lower 3Q Earnings

October 26, 2000 by · Leave a Comment 

Coachmen Industries Inc. reported its third quarter earnings declined 76% largely due to slower motorized and towable RV sales. The company earned $2.3 million during the three months ended Sept. 30, compared with $9.5 million earned a year earlier. Coachmen’s third quarter sales also were down 19% to $182.7 million. After the first nine months of this year, Coachmen’s earnings were down 61% to $10.0 million and its sales were down 12% to $565.8 million. “The softening in the RV market... Read more

Broader Market Rebounds, RV Stocks Mixed

October 26, 2000 by · Leave a Comment 

The Dow Jones Industrial Average and the Nasdaq composite both rebounded Thursday as investors poured money into tech sector stalwarts Microsoft, IBM and Intel. The Dow gained 54 points, or 0.5%, while the Nasdaq climbed 43 points, or 1.3%, on Thursday. In the RV sector, Fleetwood and Monaco had good days. Fleetwood gained 5/8, or almost 6%, to close at 11 3/4, and Monaco climbed 3/4, or a little more than 5%, to close at 15. Here is a roundup of the other RV stock activity Thursday: Winnebago declined... Read more

Next Page »