National RV to Re-focus on Gas Class A’s

September 25, 2002 by · Leave a Comment 

The National RV Inc. subsidiary of National RV Holdings Inc. will return to its roots and focus more on developing lower- to midpriced gas Class A motorhomes, said Brad Albrechtsen, president and CEO of the New York Stock Exchange-listed holding company. Albrechtsen spoke with RVBUSINESS.COM after National RV Holdings Inc. announced on Tuesday (Sept. 24) a management shake-up that included the resignation of National RV Inc. President Michael Jacques and the return of National RV Inc. co-founder... Read more

Product Quality Problems Caused National RV Loss

September 25, 2002 by · Leave a Comment 

Quality control problems this summer at the National RV Inc. manufacturing complex in Perris, Calif., are a big reason why its parent company, National RV Holdings Inc., will report a loss for the third quarter, according to Brad Albrechtsen, president and CEO of the holding company. National RV Holdings will report a loss of around $3.4 million, or 35 cents a share, during its third quarter, which will end Sept. 30, the company revealed on Tuesday (Sept. 24). National RV Inc., President Michael... Read more

Mertes and Lee Return to National RV

September 24, 2002 by · Leave a Comment 

Wayne Mertes and Bob Lee, founders of the two operating subsidiaries of National RV Holdings Inc., have returned to day-to-day executive duties at the Perris, Calif.-based company as a result of a management shake-up brought on by expanding losses at the firm. The changes also included the resignation of Mike Jacques, who was president of the National RV Inc. subsidiary and executive vice president of National RV Holdings, the parent company. National RV Holdings, a New York Stock Exchange-listed... Read more

Fleetwood Promotes Wilkinson to COO

September 24, 2002 by · Leave a Comment 

Fleetwood Enterprises Inc. announced today (Sept. 24) it promoted Charles A. “Chuck” Wilkinson to the position of executive vice president and COO. During the past 12 months, Wilkinson, 61, served as Fleetwood’s executive vice president-operations. He led the company’s housing, RV and supply groups. As a result of his promotion, Wilkinson will be more involved in Fleetwood’s “external communications activities.” “Chuck has done an exceptional job during an extremely challenging time... Read more

Fed. Leaves Interest Rates Unchanged

September 24, 2002 by · Leave a Comment 

As was widely anticipated, the Federal Reserve decided today (Sept. 24) to leave interest rates unchanged. No action by the Fed. means the benchmark prime rate will remain at 4.75%, its lowest level since 1972. The Fed. decided to leave rates unchanged because it believes overall consumer demand for goods and services “is growing at a moderate pace,” which, along with the “still robust underlying growth in productivity, should be sufficient to foster an improving business climate.” However,... Read more

National RV Stock Falls to New Low

September 24, 2002 by · Leave a Comment 

National RV Holdings Inc. stock fell to a new 52-week low today (Sept. 24) after the company announced a management shake-up related to another anticipated quarterly loss. National RV stock lost $1.23 a share, or 15% of its value in New York Stock Exchange trading today, to close at $6.95. It slipped as low as $6.90, a new 52-week low. The previous 52-week low was $7.80. Before the stock market opened today, National RV, a builder of motorhomes and towable RVs, announced it will report a third-quarter... Read more

Fleetwood Names Non-executive Chairman

September 23, 2002 by · Leave a Comment 

Fleetwood Enterprises Inc. added two new members to its Board of Directors and named outside director Tom Pitcher to be its chairman of the board for the next three years. Among the new board members is Edward Caudill, 59, who became Fleetwood’s president and CEO on Aug. 12. Meanwhile, J. Michael Hagan, 63, formerly the chairman and CEO of Furon Corp., was named an outside director of Fleetwood. Pitcher, 63, was Fleetwood’s interim chairman since February, but interim has been removed from his... Read more

Louisville Show Move to Get More Study

September 23, 2002 by · Leave a Comment 

The RV industry’s National Trade Show will take place in Louisville this year and in 2003, but Atlanta, Orlando and Las Vegas are possible new venues for the event, according to Mary “Mike” Hutya, vice president of meetings and shows for the Recreation Vehicle Industry Association (RVIA). Hutya brought the members of the RVIA Show Committee and Board of Directors up to date earlier this month on the possibility of moving the show away from Louisville. No decisions were made during the Sept.... Read more

Fleetwood Maintains Profit Outlook

September 23, 2002 by · Leave a Comment 

Fleetwood Enterprises Inc. is maintaining its forecast of break-even to slightly profitable results for its second fiscal quarter despite the recent decision by Deutsche Financial Services (DFS) to liquidate its manufactured home dealer inventory finance portfolio. If Fleetwood is profitable in its second fiscal quarter, which ends in late October, it would be the first time after nine consecutive quarters of net loses. Prior to issuing the forecast on Sept. 5, Fleetwood executives were aware of... Read more

RVIA to Hold Two Annual Meetings in ’03

September 23, 2002 by · Leave a Comment 

The Recreation Vehicle Industry Association (RVIA) will hold two annual meetings in 2003 as a result of a decision to eventually reduce the number of association gatherings that RVIA board and committee members must attend. This summer, the RVIA board decided to schedule its annual meeting in March, the traditional time of year for the event. But the board also decided earlier this month to hold a second annual meeting in September of 2003, according to Mary “Mike” Hutya, the RVIA’s vice president... Read more

Texas RV Park Loses Length of Stay Case

September 20, 2002 by · Leave a Comment 

A South Texas RV park operator has lost a year-long legal battle to overturn several Hitchcock city ordinances on constitutional grounds. Gene R. Jones, owner of the 80-space Gulf Holiday RV Park in Hitchcock, last year filed suit challenging the constitutionality of a local ordinance that makes it illegal for any recreational vehicle to remain within an RV park for more than 90 days within a 120-day period. Jones also was upset by another Hitchcock ordinance that, according to his lawsuit, requires... Read more

DFS Exiting Manuf. Home Floorplan Lending

September 20, 2002 by · Leave a Comment 

Deutsche Financial Services (DFS) will leave the manufactured home dealer inventory finance business later this year, according to the chairman of Champion Enterprises Inc., a major manufactured home builder and retailer. DFS, which announced plans earlier this week to sell its RV dealer inventory finance business to GE Capital, has a $520 million manufactured home dealer floorplan portfolio that will be liquidated, according to Walter Young, Champion’s chairman, president and CEO. DFS will not... Read more

RV Industry Featured on CNNMONEY Website

September 20, 2002 by · Leave a Comment 

The RV industry was the subject of a feature in late September on CNNMONEY, the financial markets-oriented website produced by CNN and Money magazine. The article, headlined “RVing: Taking your home away from home,” provided detailed descriptions of the various RV product types, along with advice about how to go about buying “the ultimate road trip machine.” Additionally, a hot link is provided to the Go RVing Coalition’s website,, so readers can get information about RV... Read more

July Travel Trailer/Fifth-wheel Retail Improved

September 20, 2002 by · Leave a Comment 

Retail sales of travel trailers and fifth-wheels were higher in July than was the case a year-earlier, but folding-camper and park-model retail sales were down that month, according to Statistical Surveys Inc., an independent market research firm. Travel-trailer retail sales climbed 7.2% higher in July to 12,659 units, and 15% for the first seven months of 2002, compared with the same portion of 2001, to 77,042 units, Statistical Surveys reported. Meanwhile, fifth-wheel retail sales were up 4.9%... Read more

Dealer Profits Up Over 30%

September 19, 2002 by · Leave a Comment 

RV dealership profits were, on average, up more than 30% when the first seven months of this year are compared with the same portion of 2001, according to consultant firm Spader Business Management. The average large dealership, which the Spader firm defines as those with more than $10 million in annual sales, experienced a 38.5% increase in net profits through July 31 to $699,423. Meanwhile, the average mid-size dealership, which the Spader firm defines as having $5 million to $10 million in annual... Read more

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