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Stock Market Closes Mixed, RV Shares Mostly Lower

December 26, 2000 by · Leave a Comment 

The Nasdaq composite fell again Tuesday, partially reversing a strong rally experienced last Friday. Meanwhile, the Dow Jones Industrial Average climbed and RV company stocks were mixed. The Nasdaq declined 24 points, or 0.9% on Tuesday and the Dow gained 57 points, or 0.5%. Here is a roundup of RV company stock activity on Tuesday: Fleetwood gained 5/16 to close at 9 15/16 Winnebago gained 1/16 to close at 16 13/16 Thor declined 3/8 to close at 19 5/16 Coachmen gained 1/8 to close at 9 1/8 Monaco... Read more

Kinro/Lippert Parent Reports Higher RV Sales

December 24, 2000 by · Comments Off on Kinro/Lippert Parent Reports Higher RV Sales 

Drew Industries Inc., parent of supplier firms Kinro and Lippert, reports its RV industry-related sales revenue increased 31% during the first three months of this year to $24.1 million. However, the company’s earnings declined 30% and its total revenues were down 13% during the first quarter because of the sluggish manufactured housing market. Drew earned $2.8 million on total sales of $74.7 million during the three months ended March 31. Drew is so upbeat about its RV industry-related business... Read more

Nasdaq Surges Higher, RV Shares Mixed

December 22, 2000 by · Leave a Comment 

Can it be said that you can’t keep a strong economy down? Perhaps that’s the interpretation that can be applied to the Nasdaq composite’s bargain-hunter fueled rally on Friday. After dropping to a 22-month low Wednesday, the index climbed 177 points, or 7.6%, on Friday. The Dow Jones Industrial Average also had a good day gaining 148 points, or 1.4%, on Friday. Here is a roundup of RV company stock activity on Friday: Fleetwood declined 1/4 to close at 9 5/8 Winnebago gained 3/8 to close at... Read more

TFC Looks to Expand Floorplan Portfolio

December 22, 2000 by · Leave a Comment 

Textron Financial Corporation (TFC) is one of at least two inventory finance providers looking to expand its RV dealer floorplan portfolio. TFC is the finance subsidiary of Textron Inc., manufacturer of Cessna aircraft, Bell helicopters and E-Z-Go golf carts. TFC was a small player in RV dealer inventory finance the last two years. But Group President Jerry Britton said, “TFC is looking to dramatically expand its RV portfolio.” Britton has over 30 years experience in RV dealer inventory... Read more

Effort Mounts to Remove Tax on Fifth-wheel Pullers

December 22, 2000 by · Leave a Comment 

There is a controversy brewing over a 12% federal excise tax added on to the retail price of trucks modified to pull fifth-wheel travel trailers. The tax could have a serious impact on the fifth-wheel travel trailer segment of the RV industry, according to the truck industry sources that were interviewed. The issue is not new. It has been in the background for about four years, but it came to a head last summer. For years, it was assumed the 12% tax only applied to trucks with gross vehicle weight... Read more

Personal Incomes Grew in November

December 22, 2000 by · Leave a Comment 

Consumers sent businesses and the government a mixed message in November, according to data gathered by the U.S. Commerce Department. Household incomes increased a solid 0.4% in November but spending increased at its slowest pace in more than two years, indicating consumers are tightening their belts. The increase in household income last month came after a 0.1% decline in October. Meanwhile, spending rose 0.3% in November, the weakest pace since July 1998, the commerce department reports. Consumer... Read more

Fleetwood Warns of Lower Earnings

December 21, 2000 by · Comments Off on Fleetwood Warns of Lower Earnings 

Fleetwood Enterprises Inc. reported its earnings for the quarter that will end April 30 would be below stock market analysts’ expectations. Slower RV and manufactured housing sales are the reasons the company’s earnings will be below expectations for the February-through-April period, according to Fleetwood President Nelson Potter. “Consumer demand for recreational vehicles has been robust in recent months but the rate of growth has been slowing,” Potter reports. “We have observed... Read more

Fleetwood Warns of Lower Earnings

December 21, 2000 by · Comments Off on Fleetwood Warns of Lower Earnings 

Fleetwood Enterprises Inc. reported its earnings for the quarter that will end April 30 would be below stock market analysts’ expectations. Slower RV and manufactured housing sales are the reasons the company’s earnings will be below expectations for the February-through-April period, according to Fleetwood President Nelson Potter. “Consumer demand for recreational vehicles has been robust in recent months but the rate of growth has been slowing,” Potter reports. “We have observed... Read more

Flexsteel Names New Chairman

December 21, 2000 by · Leave a Comment 

Seating supplier Flexsteel Industries Inc. announced today (Dec. 21) that it named retired Fleetwood Enterprises Inc. executive Bruce Boylen to be its new chairman. Boylen retired from Fleetwood, the RV industry’s retail market share leader, in 1991 and he joined the Flexsteel board in 1994. Boylen replaces John R. Easter, who will retire next March. Additionally, Flexsteel named Timothy E. Hall its treasurer and assistant secretary. Hall had been Flexsteel’s corporate controller since 1995.  Read More →

Stock Market Rebounds Slightly

December 21, 2000 by · Leave a Comment 

The stock market rebounded slightly Thursday and some major RV company stocks also benefited. The Nasdaq composite inched up 7 points, or 0.3%, while the Dow Jones Industrial Average climbed 168 points, or 1.6%, on Thursday. In general, RV stocks were mixed, but Fleetwood and Winnebago were among those in the plus column. Fleetwood gained 7/8, or 10%, to close at 9 7/8, and Winnebago climbed 13/16, or 5%, to close at 16 3/8. Here is a roundup of the other RV company stock activity Thursday: Thor... Read more

Economy Cooled More Than Expected

December 21, 2000 by · Leave a Comment 

The U.S. economy cooled off more than originally estimated during the third quarter, although it is not close to being in recession, according to data released today (Dec. 21) by the Commerce Department. The economy grew at a 2.2% rate during the July-through-September period. Initially, the government estimated the economy grew at a 2.4% rate during the three months ended Sept. 30. However, the economy grew at a 5.6% rate during the second quarter of this year and at an astonishing 8.3% rate during... Read more

Thor and Coachmen Shares Decline Thursday

December 20, 2000 by · Comments Off on Thor and Coachmen Shares Decline Thursday 

Shares of Thor and Coachmen both declined Thursday, suggesting that investors believe Thor’s effort to takeover Coachmen will be a protracted affair. Thor was down 1/2 to close at 27 9/16 and Coachmen was down 3/16 to close at 16 1/2. On Thursday, Thor Chairman Wade F.B. Thompson announced he wants to make the Coachmen annual shareholders’ meeting vote on otherwise routine matters into a referendum on his proposal buy Coachmen for $18 a share. Coachmen management, after the market closed today,... Read more

Thor and Coachmen Shares Decline Thursday

December 20, 2000 by · Comments Off on Thor and Coachmen Shares Decline Thursday 

Shares of Thor and Coachmen both declined Thursday, suggesting that investors believe Thor’s effort to takeover Coachmen will be a protracted affair. Thor was down 1/2 to close at 27 9/16 and Coachmen was down 3/16 to close at 16 1/2. On Thursday, Thor Chairman Wade F.B. Thompson announced he wants to make the Coachmen annual shareholders’ meeting vote on otherwise routine matters into a referendum on his proposal buy Coachmen for $18 a share. Coachmen management, after the market closed today,... Read more

Coachmen Management Stands Firm

December 20, 2000 by · Comments Off on Coachmen Management Stands Firm 

In a statement issued after the stock market closed today, Coachmen Industries Inc. management accused Thor Industries Inc. Chairman Wade F.B. Thompson of trying to “stampede the (Coachmen) shareholders and Board of Directors into accepting Thor’s (takeover) proposal.” On Monday, Thor revealed it is willing to pay $18 for each share of Coachmen stock in order to acquire the company. Thompson said he went public with his bid because Coachmen rejected it. Today, Thompson announced he... Read more

Coachmen Management Stands Firm

December 20, 2000 by · Comments Off on Coachmen Management Stands Firm 

In a statement issued after the stock market closed today, Coachmen Industries Inc. management accused Thor Industries Inc. Chairman Wade F.B. Thompson of trying to “stampede the (Coachmen) shareholders and Board of Directors into accepting Thor’s (takeover) proposal.” On Monday, Thor revealed it is willing to pay $18 for each share of Coachmen stock in order to acquire the company. Thompson said he went public with his bid because Coachmen rejected it. Today, Thompson announced he... Read more

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