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SEC Suing Sun Communities’ Executives

February 28, 2006 by · Leave a Comment 

The top two officers and a former senior executive of Southfield, Mich.-based Sun Communities Inc. are being sued by federal regulators for accounting fraud that resulted in the manufactured housing maker overstating earnings by $10.9 million between 2000 and 2002, according to the Detroit News. Sun Communities owns, operates, develops and finances 136 properties in 18 states, including 124 manufactured housing communities and five recreational vehicle communities. The U.S. Securities and Exchange... Read more

Thor Industries Named in WSJ Scoreboard

February 28, 2006 by · Leave a Comment 

Thor Industries Inc. earned a top ranking in The Wall Street Journal’s Shareholder Scoreboard for the recreational products and services category, as of year-end 2005. According to a press release, Jackson Center, Ohio-based Thor achieved a top-rated five-year average return of 52.7%. The builder also posted a 10-year average return of 29.2%, a seven-year average return of 33.3%, and a one-year return of 9.4%. The Shareholder Scoreboard ranks companies relative to others in their own industries.... Read more

Thor Industries Named in WSJ Scoreboard

February 28, 2006 by · Leave a Comment 

Thor Industries Inc. earned a top ranking in The Wall Street Journal’s Shareholder Scoreboard for the recreational products and services category, as of year-end 2005. According to a press release, Jackson Center, Ohio-based Thor achieved a top-rated five-year average return of 52.7%. The builder also posted a 10-year average return of 29.2%, a seven-year average return of 33.3%, and a one-year return of 9.4%. The Shareholder Scoreboard ranks companies relative to others in their own industries.... Read more

Decorator Industries Reports Flat Earnings

February 28, 2006 by · Leave a Comment 

Interior furnishings supplier Decorator Industries Inc. today (Feb. 28) reported relatively flat earnings and sales for the company’s full year, ended Dec. 31, despite a boost in fourth-quarter recreational vehicle revenues from hurricane-related orders. “The reduction in our RV sales for fiscal 2005 was directly related to lower production of travel trailers and motorhomes by our customers,” said William Bassett, chairman for the Pembroke, Fla.-based firm, which also supplies the manufactured... Read more

Thor Posts Record 2Q Income, Revenues

February 28, 2006 by · Leave a Comment 

Thor Industries Inc. recorded over $1 billion in sales at the midway point in fiscal 2006, highlighting a report that showed record earnings and revenues for the company’s second quarter and first six months, ended Jan. 31. “Several factors contributed to this record performance, including continuing exceptional strength in our towables business; a decline in warranty costs in the quarter; profits at Thor California versus a loss last year; and improvements in bus sales and profits,”... Read more

Job Concerns Deflate Consumer Confidence

February 28, 2006 by · Leave a Comment 

Americans in February became less optimistic about the overall economy, especially the short-term prospects for the job market, sending a widely followed barometer of consumer sentiment – including the RV industry – below analysts’ estimates. The Associated Press reported that the Conference Board, a New York-based private research group, said Tuesday (Feb. 28) its consumer confidence index fell to 101.7, from a revised 106.8 in January, the highest level since May 2002. The drop in February... Read more

Owners to Plead Guilty in RV Rental Scam

February 27, 2006 by · Leave a Comment 

Following a year-long series of court proccedings, the attorney for the owners of a Walpole, Mass., RV dealership accused of defrauding several local banks and two national banking institutions of nearly one-half million dollars informed a U.S. District Court magistrate that his clients are prepared to plead guilty to multiple conspiracy and bank fraud charges. The Daily News Transcript, Needham, reported that Janet E. Smith and Thomas H. Cabana, owners of Trip Makers Inc., were indicted early last... Read more

Newmar Corp. Appoints New President

February 27, 2006 by · Leave a Comment 

Newmar Corp., the privately owned Nappanee, Ind.-based manufacturer of high-end Class A motorhomes and fifth-wheels, announced to its dealers Friday (Feb. 24) the appointment of Matthew Miller as president, effective today. Miller, the son of Newmar owner Mahlon Miller, replaces Dick Parks, who will assume the role of chairman of the board. Parks had taken over the reins at Newmar, overseeing day-to-day operations and strategic planning, in October of 2004. His departure coincides with a period during... Read more

Kapson Made Mark in Van, RV Industries

February 27, 2006 by · Leave a Comment 

Jordan Kapson, founder of The Jordan Automotive Group in Mishawaka, Ind., whose firm sold van conversions and procured Ford chassis for the recreational vehicle industry, died in his home Feb. 23 at the age of 82. Kapson was a Chicago native who opened his first car dealership in 1947 at the site of his current headquarters in Mishawaka. He expanded the business to become the nation’s largest Ford dealership and, for 17 years straight, the country’s largest fleet dealer. The company attributes... Read more

Mandalay Introduces Valencia Diesel

February 27, 2006 by · Leave a Comment 

Thor’s Mandalay Luxury Division has introduced the more affordable Valencia diesel pusher motorhome for 2006 with three available floorplans and up to four slideouts. John Krider, product planning manager for the newly created division of Thor Industries Inc. located adjacent to Four Winds International Corp.’s facilities on the east side of Elkhart, Ind., said Valencia is designed to appeal to consumers considering the purchase of a high-end gas Class A. “Within the same price range, they... Read more

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