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Greenspan Says Slowdown Not Over Yet

February 28, 2001 by · Leave a Comment 

Federal Reserve Chairman Alan Greenspan told Congress today (Feb. 28) that the current economic slowdown “has yet to run its full course,” which suggests the Fed will lower interest rates again. Also today, the Commerce Department reported the nation’s economy grew at only a 1.1% rate during the fourth quarter of last year, the slowest pace in more than five years. In comparison, the economy grew at an 8.3% rate during the fourth quarter of 1999, a rate most economists consider... Read more

Patrick Industries Declares Dividend

February 28, 2001 by · Leave a Comment 

RV industry supplier/distributor Patrick Industries Inc. has declared a 4 cents a share quarterly cash dividend. The dividend will be paid April 3 to shareholders of record on March 16.  Read More →

Spartan Forms CEO Search Committee

February 28, 2001 by · Leave a Comment 

Diesel pusher chassis supplier Spartan Motors Inc. has formed a search committee comprised of its outside directors to find a new CEO. The committee will search for a replacement for George Sztykiel, 71, the current chairman and CEO, who will retire next year. The committee will look both inside and outside of Spartan for a replacement. The board also plans to hire an executive search to facilitate the process.  Read More →

Broader Market Falls, RV Shares Decline

February 28, 2001 by · Leave a Comment 

The Nasdaq composite and Dow Jones Industrial Average both fell sharply Wednesday as investors assumed the Federal Reserve will not lower interest rates for at least three weeks. Most RV company stock also closed lower. The Dow fell 142 points, or 1.3%, and the Nasdaq slipped 56 points, or 2.5%, on Wednesday. The sell-off occurred after Fed Chairman Alan Greenspan told Congress he was worried about a recession. But several market analysts felt the tone of Greenspan’s remarks suggested the Fed would... Read more

Nasdaq Plunges, RV Shares Mixed

February 27, 2001 by · Leave a Comment 

The Nasdaq composite plunged Tuesday to its lowest level in 26 months after stock traders received reports that consumer confidence was weaker this month than it has been in four years. The Nasdaq fell 101 points, or 4.4%, as investors bet the Federal Reserve will not be able to prevent a recession. Meanwhile, the Dow Jones Industrial Average was essentially unchanged. It declined 6 points, or 0.05%, on Tuesday. RV company stocks were mixed but two larger RV manufacturers, Fleetwood and Monaco, saw... Read more

Nasdaq Plunges, RV Shares Mixed

February 27, 2001 by · Leave a Comment 

The Nasdaq composite plunged Tuesday to its lowest level in 26 months after stock traders received reports that consumer confidence was weaker this month than it has been in four years. The Nasdaq fell 101 points, or 4.4%, as investors bet the Federal Reserve will not be able to prevent a recession. Meanwhile, the Dow Jones Industrial Average was essentially unchanged. It declined 6 points, or 0.05%, on Tuesday. RV company stocks were mixed but two larger RV manufacturers, Fleetwood and Monaco, saw... Read more

Thor’s Bus Business Grows

February 27, 2001 by · Leave a Comment 

Thor Industries Inc. has signed a long-term private label agreement calling for it to build mid-size and small buses for ABC Bus Companies Inc., a distributor of passenger buses. Thor will build the buses at its General Coach facility in Imlay City, Mich., and Thor also bought 17 acres in Mira Loma, Calif., for a new factory to produce mid-size buses. In its second fiscal quarter earnings report issued Monday (Feb. 26), Thor revealed that its RV sales revenue declined while its bus revenue increased... Read more

Thor’s Bus Business Grows

February 27, 2001 by · Leave a Comment 

Thor Industries Inc. has signed a long-term private label agreement calling for it to build mid-size and small buses for ABC Bus Companies Inc., a distributor of passenger buses. Thor will build the buses at its General Coach facility in Imlay City, Mich., and Thor also bought 17 acres in Mira Loma, Calif., for a new factory to produce mid-size buses. In its second fiscal quarter earnings report issued Monday (Feb. 26), Thor revealed that its RV sales revenue declined while its bus revenue increased... Read more

Thor Reports 25% Decline in RV Sales

February 26, 2001 by · Leave a Comment 

Thor Industries Inc. reported sharply lower RV sales revenue during the second quarter of its fiscal year 2001, which ended on Jan. 31. The company’s RV revenues declined 25% to $99.8 million during the November-through-January period. Thor’s total sales during the three months ended Jan. 31 declined 13% to $169.2 million because the decline in RV revenues was partially offset by a 16% increase in bus sales, which increased to $69.4 million. Meanwhile, Thor’s second fiscal quarter earnings... Read more

Thor Reports 25% Decline in RV Sales

February 26, 2001 by · Leave a Comment 

Thor Industries Inc. reported sharply lower RV sales revenue during the second quarter of its fiscal year 2001, which ended on Jan. 31. The company’s RV revenues declined 25% to $99.8 million during the November-through-January period. Thor’s total sales during the three months ended Jan. 31 declined 13% to $169.2 million because the decline in RV revenues was partially offset by a 16% increase in bus sales, which increased to $69.4 million. Meanwhile, Thor’s second fiscal quarter earnings... Read more

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