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Stock Market Tumbles, RV Shares Mixed

November 30, 2000 by · Leave a Comment 

The stock market, particularly the Nasdaq composite, ended November on a sour note as investors continued to dump technology shares. The Nasdaq fell 109 points, or 4%, Thursday after computer maker/retailer Gateway and chip maker Altera warned Wall Street to expect lower earnings. The Dow Jones Industrial Average also plunged 215 points, or 2%, as concerns about a slowing economy mounted. Meanwhile, RV stocks were mixed with several closing unchanged. Here is a roundup of RV company stock activity... Read more

Fleetwood Posts $3 Million Loss

November 30, 2000 by · Leave a Comment 

Fleetwood Enterprises Inc. reported it lost $3.4 million during the three months ended Oct. 29, primarily because of losses in manufactured home retailing, costs related to factory closures and the fact its RV business operated slightly in the red. The $3.4 million loss compares with a profit of $29.8 million earned during the August-through-October period of 1999. During the six months ended Oct. 29, Fleetwood lost a total of $34.5 million, compared to a profit of $56.2 million earned during the... Read more

Spartan Intros Mid-Engine me2 Chassis

November 29, 2000 by · Leave a Comment 

Spartan Motors Inc. introduced a Class A motorhome platform with the diesel engine mounted in the middle of the chassis to give interior and exterior designers more flexibility, according to John Sztykiel, president and COO. The new chassis, called the me2, is similar to the chassis Spartan uses for some of its fire trucks, Sztykiel said. Currently, Spartan and its competitor Freightliner supply Class A motorhome builders with chassis that have the diesel engine mounted at the rear. However, the... Read more

Draw-Tite, Reese Parent Taken Private

November 29, 2000 by · Leave a Comment 

MascoTech Inc., parent of RV towing equipment suppliers Draw-Tite and Reese, was taken private Tuesday (Nov. 28) by Heartland Industrial Partners LLP, a firm led by former Reagan Administration budget director David Stockman. As a result of the transaction, MascoTech stock ceased trading on the New York Stock Exchange Tuesday. MascoTech stock closed at $17 a share, up 3/16. The terms of the deal call for MascoTech stockholders to get $16.90 a share plus cash proceeds from the sale of MascoTech’s... Read more

Fleetwood Opens New Entry Level Towables Plant

November 29, 2000 by · Leave a Comment 

Fleetwood Enterprises Inc. recently opened a new manufacturing plant in Campbellsville, Ky., to build its new Pioneer line of entry level towables, the company announced during the RV industry’s national trade show in Louisville, Ky. The 58,000-square-foot Kentucky plant opened Nov. 17 and it will build Pioneer units exclusively. The Pioneer line is so new, Fleetwood did not have any Pioneer units at its display at the Louisville show, which opened Nov. 28. Pioneer travel trailers and fifth-wheels... Read more

Nasdaq Plunges Again, RV Stocks Mixed

November 29, 2000 by · Leave a Comment 

The Nasdaq composite hit a new 13-month low by falling 28 points, or 1%, Wednesday as investors remained worried about the impact of a slowing economy on tech company profits. Meanwhile, the Dow Jones Industrial Average climbed sharply, 122 points, or 1.2%, on Wednesday, while RV company stocks were mixed. Here is a roundup of the other RV company stock activity Wednesday: Fleetwood declined 3/8 to close at 12 1/2 Winnebago gained 5/16 to close at 12 1/8 Thor gained 5/16 to close at 21 5/16 Coachmen... Read more

Nasdaq Plunges, Many RV Shares Unchanged

November 28, 2000 by · Leave a Comment 

The Nasdaq composite plunged 146 points, or 5.1%, Tuesday as investors continued selling tech stocks because they are worried about a slowing economy. Meanwhile, the Dow Jones Industrial Average and most RV company stocks were relatively quiet. The Dow declined 38 points, or 0.4%, Tuesday. Many RV company stock prices were unchanged, but one exception was SMC, which soared 5/8, or 39%, Tuesday to close at 2 1/4. Here is a roundup of the other RV company stock activity Tuesday: Fleetwood declined... Read more

Freightliner to Enter Class C Chassis Business

November 28, 2000 by · Leave a Comment 

Freightliner Custom Chassis Corp. intends to enter the Class C motorhome chassis business during calendar year 2002, according company executives who were interviewed Tuesday (Nov. 28) during the RV industry’s national trade show in Louisville. Freightliner’s cut-away chassis will be a part of its Sprinter series of walk-in vans, school and shuttle buses that it will built at its Gaffney, S.C., plant, according to Marv Hoff, president of the Freightliner Specialized Product Group, and Dean Schaper,... Read more

Fleetwood Hopes New Product Will Lead Turnaround

November 28, 2000 by · Leave a Comment 

Fleetwood Enterprises Inc., the RV industry’s market share leader, hopes to turn its financial fortunes around with the new products it introduced Tuesday (Nov. 28) during the RV industry’s national trade show in Louisville. The company, which was burdened for several quarters by the manufactured housing industry’s weakness, saw its RV business deteriorate badly during the summer, so it re-introduced several of its models in Louisville as model year 2001.5 product. However, it also introduced... Read more

The Dow and Most RV Shares Climb

November 27, 2000 by · Leave a Comment 

The Dow Jones Industrial Average gained Monday as investors bought stocks that they feel will do well during a Bush presidency. The Dow climbed 76 points, or 0.7%. Meanwhile, the Nasdaq composite declined 24 points, or 0.8%, Monday as tech sector investors continue to worry about a slowing economy. However, concerns about a slowing economy did not have a negative impact on most RV company stocks on Monday, possibly because RV stock prices have already been beaten down. One RV stock that many investors... Read more

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