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Weak Demand Triggers Coachmen 4Q Loss

January 31, 2007 by · Leave a Comment 

Eroding demand in its core markets contributed to a $30.9 million net loss for Coachmen Industries Inc. during the company’s fourth quarter, ended Dec. 31. “In 2006, we encountered contracting markets in both of our industry segments for the second consecutive year, representing the most difficult markets we’ve faced since 1989,” said CEO Rick Lavers, who took the position when Claire Skinner, daughter of co-founder Tom Corson, elected for early retirement last August. “The overall... Read more

Longtime, Family-Owned Ark. Dealer Sold

January 31, 2007 by · Leave a Comment 

Crain Automotive Holdings LLC, which has recently bought several auto dealerships in central Arkansas, on Tuesday (Jan. 31) announced the purchase of Camper Capps in Little Rock, which will be renamed Crain RV. According to a report by Arkansas Business, the Capps family operated the RV dealership for 35 years. A purchase price was not disclosed. Crain said it expects to announce additional central Arkansas dealership acquisitions during the month of February. Since November, the company has bought... Read more

Industry Analysts Weigh in on Thor News

January 31, 2007 by · Leave a Comment 

Shares of Jackson Center, Ohio-based Thor Industries Inc. tumbled Tuesday (Jan. 31) after the recreational vehicle and commercial bus maker said it may need to restate two years of financial results due to accounting issues at a subsidiary. Thor’s board audit committee and independent outside advisers are investigating Goshen, Ind.-based subsidiary Dutchmen Manufacturing Inc.’s inventory, accounts receivable, accounts payable and cost of goods sold. Analyst John Diffendal of BB&T... Read more

Register Guard: Riley Meets with National RV

January 31, 2007 by · Leave a Comment 

The last time Los Angeles investment banker Bryant Riley tried to take over financially ailing National RV Holdings Inc., executives of the parent company of Country Coach Inc. and National RV Inc. emphatically rejected what they considered to be a lowball bid. The Register Guard, Junction City, Ore., reported that Riley, who is National RV’s single largest shareholder, is back and has entered into confidential talks with the company’s executives and board members about ways to turn the... Read more

Fed Holds Rates, Inflation Still a Concern

January 31, 2007 by · Leave a Comment 

The Federal Reserve, faced with a strongly rebounding economy, left interest rates unchanged on Wednesday (Jan. 31) while repeating concerns about inflation. The Associated Press reported that the central bank voted to leave the federal funds rate, the interest that banks charge each other, at 5.25%, where it has been since last June. That decision had been widely expected given an economy that is exhibiting better-than-expected growth. While the Fed had been expected to start cutting rates later... Read more

Thor Probes Dutchmen Accounting Issues

January 30, 2007 by · Leave a Comment 

Jackson Center, Ohio-based Thor Industries Inc. said late Monday (Jan. 29) it may need to restate financial statements going back to 2004, as it probes accounting at a subsidiary. The company said its board’s audit committee and independent outside advisors are looking at its Goshen, Ind.-based Dutchmen Manufacturing Inc. subsidiary’s inventory, accounts receivable, accounts payable and cost of goods sold. It has voluntarily informed the Securities and Exchange Commission (SEC) of the... Read more

Advanced Tomato Growing Secrets- Your Questions Answered

January 30, 2007 by · Leave a Comment 

A study that could result in the closure of campgr Advanced Tomato Growing Secrets- Your Questions Answered ounds and other facilities in the country’s national forests will be opened to greater public scrutiny, according to the U.S. Forest Service. The Aspen (Colo.) Times reported that the agency won’t make any decisions on closures for the next two months so an internal “review team” can assess how to broaden citizen involvement in the process, according to Joel Holtrop,... Read more

Crane Co. Reports Higher 4Q Sales, Profits

January 30, 2007 by · Leave a Comment 

Stamford, Conn.-based Crane Co., a diversified manufacturer of industrial products for the construction, chemical, aviation and recreational vehicle industries, reported its fourth-quarter profit climbed as sales grew. The company earned $38 million, up 8% from $35.3 million in the same period the previous year. Sales rose 15% to $581.7 million from $506.3 million. For the full year, the company earned $165.9 million, representing a 21% increase from $136 million in 2005. Sales climbed 10% to $2.26... Read more

King of the Road Shuts Down Operations

January 30, 2007 by · Leave a Comment 

Grand Island, Neb.-based Chief Industries Inc. announced Monday (Jan. 29) that its King of the Road subsidiary in nearby York would close immediately. According to TV station KOLN/KGIN, the fifth-wheel and diesel pusher plant employs 53 people. A call by RV Business magazine to the King of the Road facility confirmed the closing. The parent company said half of those 53 workers will be employed at other Chief operations. The corporation cited the high cost of energy and consolidation in the RV industry... Read more

Wholesale Shipments Flat in ’06, Gain 1.6%

January 30, 2007 by · Leave a Comment 

Despite the third straight double-digit monthly decline in December, 2006 wholesale shipments gained 1.6% over year-prior totals with 390,500 units delivered representing the industry’s best performance since 1978. According to the Recreation Vehicle Industry Association (RVIA), the travel trailer sector was down 32.1% for the month, again saddled with unfavorable year-over-year comparisons due to hurricane-related units shipped during the fourth quarter of 2005. The situation was further aggravated... Read more

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