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

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

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

Stock Market Keeps Falling

December 20, 2000 by · Leave a Comment 

The stock market continued falling Wednesday, dragging down most RV co How Do I Get My Ex Girlfriend Back That I Love mpany shares. The Nasdaq composite had another terrible day, plunging 179 points, or 7.1%, to close at its lowest level in 20 months. Stock market analysts, in recent days, have lowered their earnings forecasts for many major technology firms which dragged down the Nasdaq and, to a lesser extent, the Dow Jones Industrial Average. The Dow declined 265 points, or 2.5%, on Wednesday. Among... Read more

Power Gear Parent Reports Lower Earnings

December 20, 2000 by · Leave a Comment 

Applied Power Inc., supplier of Power Gear leveling and slideout systems to RV manufacturers, reported lower sales and earnings for its first fiscal quarter, which ended Nov. 30. The company, which does business at Actuant Corp., reported its earnings declined 82% to $4.3 million, compared with $23.7 million a year earlier. However, Actuant received a one-time-only gain of $12.7 million during the September-through-November portion of 1999 from the sale of a business. Meanwhile, the company’s sales... Read more

Starcraft Completes Refinancing

December 20, 2000 by · Leave a Comment 

Vehicle conversion firm Starcraft Corp. signed an amended financing agreement today (Dec. 20) to support its bus, mobility and Tecstar joint venture operations. Starcraft now has $22 million available, up from $14 million. It includes a $3.5 million term loan that matures next November and a revolving credit facility. The additional funding will help finance the recently opened Tecstar plant in Bridgewater, N.J., and the re-opening next month of the Tecstar plant in Grand Prairie, Tex. The Texas... Read more

Cummins to Report 4Q Loss, Closes Engine Plant

December 19, 2000 by · Leave a Comment 

Cummins Inc., a supplier of diesel engines and generators to the RV industry, warned Wall Street today (Dec. 19) that it will report a fourth quarter loss and that it has closed a “mid-range engine plant in Walesboro, Ind.,” until the end of this year. The Walesboro plant, which was shut down beginning Dec. 13, does not build engines used by Freightliner Custom Chassis Corp. for its diesel pusher motorhome chassis, said Dean Schaper, chassis product manager. DaimlerChrysler’s decision... Read more

Fed Disappoints Stock Market

December 19, 2000 by · Leave a Comment 

The stock market fell late in the trading day Tuesday after the Federal Reserve Board announced it would not lower interest rates at least until its next meeting in late January. Dow Jones Industrial Average declined 61 points, or 0.6%, and the Nasdaq composite plunged 113 points, or 4.3%, to close at its lowest level during 2000. Most RV company stocks also declined Tuesday. Among them was Fleetwood, which slipped 5/16 to close at 8 15/16, a new 52-week low. Fleetwood’s previous 52-week low was... Read more

Fed Leaves Rates Unchanged

December 19, 2000 by · Leave a Comment 

The Federal Reserve Board decided today (Dec. 19) to leave interest rates unchanged, although, now, it is more worried about a recession than about inflation. The Fed has not changed interest rates since May but, until today, it said it was more worried about inflation, which meant more rate increases were likely. It raised rates six times beginning late in 1999 until May to prevent inflation from accelerating. But several economic analysts believe the language the Fed used today makes an interest... Read more

Dow Gains, Nasdaq Loses, RV Shares Mixed

December 18, 2000 by · Leave a Comment 

The Dow Jones Industrial Average rose Monday for the first time in three trading sessions as investors in “traditional” economy stocks expressed hope that the Federal Reserve would lower interest rates soon. The Dow climbed 210 points, or 2%, on Monday. Meanwhile the Nasdaq composite declined 29 points, or 1.1%, as investors in “new economy” stocks continue to worry about future profits. Here is a roundup of RV company stock activity Monday: Fleetwood declined 1/4 to close... Read more

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