Stocks Rally on Hopes of Rate Pause

July 28, 2006 by · Leave a Comment 

Evidence of a moderating economy helped stocks rally Friday as a sharp slowdown in second-quarter gross domestic product growth fed hopes for an end to rising interest rates. The Associated Press reported that investors bid shares higher after the Commerce Department said GDP growth tailed off by more than half to a 2.5% annual rate. Although the reading was weaker than forecast, the pace was considered healthy and reinforced beliefs that the Federal Reserve may not need to hike interest rates further. Wall... Read more

Featherlite Merges With Universal Trailer

July 27, 2006 by · Leave a Comment 

Featherlite Inc., a manufacturer of specialty aluminum trailers, transporters and luxury motorcoaches, announced today (July 27) that it has signed a definitive agreement to merge with a subsidiary of Universal Trailer Holdings Corp. of Cincinnati, Ohio. According to a statement, Cresco, Iowa-based Featherlite will become a wholly-owned subsidiary of Universal Trailer, which produces several specialty trailer brands, including Haulmark, Exiss, Sooner and Miley. A special committee of Featherlite’s... Read more

R-Vision Boosts Monaco Towable Sales

July 27, 2006 by · Leave a Comment 

Monaco Coach Corp.’s acquisition of R-Vision continues to pay dividends as the Warsaw-Ind.-based manufacturer generated two-thirds of Monaco’s towable revenues in the second quarter. In a conference call following release of Monaco’s financial results on Wednesday (July 26), Kay Toolson, chairman and CEO, said R-Vision is effective in competing at price points lower than traditional Monaco products. R-Vision accounted for nearly $60 million of the $89.2 million in revenues Monaco realized from... Read more

Spartan Records Strong Second Quarter

July 27, 2006 by · Leave a Comment 

Spartan Motors Inc. nearly doubled its profits during the company’s second quarter, ended June 30, representing the sixth consecutive quarter of year-over-year improved earnings. The Charlotte, Mich.-based chassis builder reported second-quarter net income increased 95% to $5 million from $2.6 million a year prior on a 22% rise in sales to $109.2 million compared with $89.3 million. Through the first six months, Spartan’s earnings increased 105.8% while revenues grew 19.4%. The company attributed... Read more

Man Fatally Shot in RV Parked at Wal-Mart

July 27, 2006 by · Leave a Comment 

Police are investigating a deadly shooting inside an RV parked outside a Wal-Mart store in Cedar City, Utah, according to the Deseret Morning News, Salt Lake City. Police said about 9:47 p.m. Tuesday (July 25), a man had knocked on the door of an RV that was parked overnight in the store parking lot. An unidentified family of four from Cane Coral, Fla., was inside. Investigators said the man forced his way into the motorhome. “The tourists inside were in fear for their life,” Sgt. Jerry... Read more

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

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