Cummins Posts 56% Jump in 2Q Profits

July 27, 2006 by · Leave a Comment 

Diesel engine manufacturer Cummins Inc. on Thursday (July 27) posted a 56% jump in second-quarter profit on strong sales across all of its segments. The Columbus, Ind., company earned $220 million in the quarter, ended July 2, compared with $141 million the previous year. Revenue rose 14% to $2.84 billion from $2.49 billion in the year-ago period. The 2006 quarter’s results included a $28 million gain related to the favorable resolution of prior-year tax audits. Cummins said all of its business... Read more

Supplier Fabric Services Buys Textile Mill

July 27, 2006 by · Leave a Comment 

Bristol, Ind.-based supplier Fabric Services announced today (July 27) the acquisition of Abercrombie Textiles LLC, a textile mill located in Shelby, N.C., effective July 1. “Along with the acquisition of Flame Treat in 2005, the purchase of Abercrombie is part of a continuing plan to expand our vertically-integrated product and service offerings,” said John Regan, CEO of Fabric Services, in a press release. “This is an exciting opportunity that will help Fabric Services bring more American-made... Read more

Monaco Reports Decline in 2Q Earnings

July 26, 2006 by · Leave a Comment 

Monaco Coach Corp. reported lower second-quarter earnings due to weakness in the motorized sector, resulting in production changes to better match soft market demand. “The new production configuration for our various models provides the company much greater flexibility to build to market demand, and assists our dealer partners in maintaining the proper mix of models on their lots,” said Kay Toolson, Monaco chairman and CEO. “These manufacturing changes did impact efficiencies in... Read more

Allied Capital Invests in Stag Buyout

July 26, 2006 by · Leave a Comment 

Allied Capital Corp. has committed $63 million to support the buyout of full-line RV aftermarket supplier Stag-Parkway Inc. by private equity firm Greenbriar Equity Group LLC. “This deal presented a great opportunity for Allied Capital to invest in a market-leading company with national scale and reach,” said Justin Maccarone, managing director of Allied Capital, a publicly traded business development firm based in Washington, D.C., with total assets of more than $4 billion. Greenbriar,... Read more

Supreme Enters Industry with Tow Coach

July 26, 2006 by · Leave a Comment 

Silver Crown, a new division of Supreme Corp., began production of a line of diesel-powered luxury motor tow coaches July 10 at a new White Pigeon, Mich., plant. The first Silver Crown coach was expected to roll off the assembly line in late August, according to General Manager Chris Miller. The luxury coaches are built on Class 8 type Freightliner chassis and feature three slideouts and all the amenities of a Class A motorhome, Miller said. Silver Crown is building the first units on a “semi-spec... Read more

Camping Convention Offers Global Forum

July 26, 2006 by · Leave a Comment 

There won’t be a trade show at the first annual World Camping Convention, which is slated for Nov. 1-3 on the island of Barbados. There will, however, be unique opportunities for RV rental companies, campground operators, reservation service providers and other tourism businesses to network in an effort to increase the flow of RV enthusiasts between Europe, Australia and North America. “We’re providing them the opportunity to create alliances with one another,” said Ken Lahoda,... Read more

National Park Service Director Resigns

July 26, 2006 by · Leave a Comment 

The director of the National Park Service announced her resignation Wednesday (July 26) from an agency often at odds with environmentalists and Westerners for shifting its focus from conservation to recreation. The Associated Press reported that Fran Mainella headed the agency for six years and most recently oversaw a controversial rewrite of management policies for the parks under its care. Mainella is leaving her position to devote more time to her family, according to a Park Service release. Interior... Read more

Winnebago Targets Entry-Level C Market

July 26, 2006 by · Leave a Comment 

Entering a market segment it previously didn’t sell in, Winnebago Industries Inc. introduced the new entry-level Winnebago Access/Itasca Impulse minimotorhome during the Forest City, Iowa, manufacturer’s 2006 Dealer Days June 25-28 at the Mirage, Las Vegas, Nev. With GVWR ratings up to 14,050 pounds, the new Class C offers six 22- to 31-foot floorplans and is available standard on Ford E-350 and E-450 chassis or optional Chevy Workhorse chassis depending on the floorplan. Base retail... Read more

ELS Reports 50% Decline in 2Q Earnings

July 25, 2006 by · Leave a Comment 

Equity LifeStyle Properties Inc. (ELS) announced a more than 50% decline in net income for the company’s second quarter, ended June 30. Chicago-based ELS, a self-administered, self managed, real estate investment trust (REIT) that owns or has an interest in 294 properties in 30 states and British Columbia, said its net income available to common stockholders in the quarter totaled $1.2 million, compared to $2.5 million a year earlier, a decline of more than 50%. For the first six months of this... Read more

FEMA Units Bring Hope to Flooded Region

July 25, 2006 by · Leave a Comment 

Debbie Preston drives through Conklin, N.Y., after dark every night. What the town supervisor misses are the lights from homes in the town’s flood-ravaged neighborhoods, according to a report in the Press & Sun Bulletin, Binghamton. But with Monday’s announcement that homeowners in the New York state region are now eligible for travel trailers as temporary housing from the Federal Emergency Management Agency (FEMA), she expects to see lights again soon. “From the mental health... Read more

Patrick Industries Posts Solid Quarter

July 25, 2006 by · Leave a Comment 

Recreational vehicle and manufactured housing supplier Patrick Industries Inc. reported increased sales and earnings for its second quarter, citing the impact of new product introductions and increased market penetration. During the second quarter, ended June 30, net income increased to $1.3 million from $238,000 a year ago while sales totaled $94.7 million compared with $78.7 million. “This was our best second quarter and year-to-date operating results since 1999, and we are pleased with the... Read more

SE Texas Trailers Unaffected by Fumes

July 25, 2006 by · Leave a Comment 

Southeast Texas residents living in travel trailers supplied by the Federal Emergency Management Agency (FEMA) for emergency housing are not complaining of health problems, according to a report in the Beaumont Enterprise. Following air quality testing by a Mississippi chapter of the Sierra club of units in that state, residents displaced by Hurricane Katrina filed a class action suit against FEMA and several RV builders, claiming formaldehyde fumes are causing illness. According to the Enterprise,... Read more

Consumer Sentiment up Slightly in July

July 25, 2006 by · Leave a Comment 

U.S. consumer confidence rose in July amid cautious optimism about job prospects, but overall sentiment in months ahead would likely stay below levels touched earlier this year, a survey showed on Tuesday (July 25). Reuters reported that the Conference Board said its index of consumer sentiment climbed in July to 106.5, up from 105.4 in June. Sentiment scaled a year high of 109.8 in April. Economists polled by Reuters on average had forecast that the index likely fell to 104.0. “Consumer confidence... Read more

National City Pares Down Finance Role

July 25, 2006 by · Leave a Comment 

National City Corp., one of the nation’s largest financial holding companies, is no longer providing indirect retail financing for RV and marine equipment loans. However, the Cleveland, Ohio-based company is continuing to provide direct financing for consumers as well as dealer floorplan financing. Indirect financing occurs when the loan is originated by the dealership and is subsequently assigned to a financial institution. Direct financing is when a consumer obtains a loan directly from a financial... Read more

Sidewall Vendor Addresses ‘Quality Issue’

July 24, 2006 by · Leave a Comment 

Stamford, Conn.-based Crane Co. acknowledged a “quality issue” in sidewalls shipped to the recreational vehicle sector during a recent conference call on the firm’s first-quarter earnings. “During the first quarter we … incurred product support costs in conjunction with a distortion issue and a product quality issue some of our RV customers have experienced,” CEO Eric Fast said during an April conference call with analysts. The Fairfield County Business Journal, White Plains,... Read more

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