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RVBUSINESS.com Taking Holiday Hiatus

December 24, 2008 by · Leave a Comment 

The RVBUSINESS.com website will be idle Dec. 24 and Dec. 25 as our staff observes the Christmas holiday. The site returns on Monday with all of the latest industry news. Thanks to our subscribers for a great year, and have a safe, relaxing and enjoyable holiday.  Read More →

Forest River Retools Georgetown Class A Line

December 23, 2008 by · Leave a Comment 

Forest River Inc. has redesigned its top-selling, gas-powered Georgetown Class A motorhome inside and out. “We decided to be extremely aggressive and reinvent the entire product,” said Craig Fawcett, Georgetown sales manager. Available in 11 32- to 38-foot floorplans – one that features the line’s first full-wall slideout – the redesigned Georgetown offers a new front cap with chrome accents, a one-piece windshield, LED taillights and stamped side-hinged cargo doors accessing large... Read more

California Dealer Brawley’s RV Closing Down

December 23, 2008 by · Leave a Comment 

Brawley’s RV is adding its name to a growing list of vehicle dealerships going out of business in California’s Central Valley. The sales center in Modesto has slashed its prices 30% to 60%, according to the Modesto Bee. Manager Steve Jessup said he also will consider customers’ offers on RVs in an attempt to move Brawley’s inventory by Jan. 4. “We’re going to liquidate as much as we can before selling to other dealers and at auction,” said Jessup. Brawley’s... Read more

Textron Shrinks Finance Arm, Exits RV Sector

December 23, 2008 by · Leave a Comment 

Providence, R.I.-based Textron Inc. plans to shrink its Textron Financial Corp. (TFC) subsidiary by more than two-thirds, the company announced today (Dec. 23). According to the Providence Business News, the company said it would sell or liquidate approximately $7.9 billion of the $11.4 billion portfolio of Textron Financial, which has become a drag on the company’s bottom line amid the credit crunch. Going forward, Textron Financial will limit itself to financing customer purchases of Textron... Read more

Camping World NASCAR Circuit Loses Ford

December 23, 2008 by · Leave a Comment 

As automakers face their first major test of the 21st century NASCAR is struggling to recoup from the losses afflicting the Big Three, according to DigitialJournal.com. Ford, General Motors (through its Chevrolet division) and Chrysler (Dodge) comprised around 75% of the cars in the field in the premier Cup circuit last season, but these days bad news are hitting the stock car market: Chevy says it will cut its motor sports spending (eliminating NASCAR track sponsorships), and Ford will stop commitments... Read more

Oklahoma Hedge Fund Buys Up Monaco Stock

December 23, 2008 by · Leave a Comment 

A Tulsa, Okla., hedge fund has upped its stake in Monaco Coach Corp. and now controls nearly 14% of the Coburg, Ore.-based recreational vehicle maker. The Register-Guard, Eugene, reported that Prescott Group Capital Management increased its stake in Monaco to 4.1 million shares on Dec. 16, when the company’s stock was trading at 41 cents per share. As recently as September, Prescott owned 1.7 million shares. Prescott is now the single largest holder of Monaco stock. After the news of Prescott’s... Read more

Spartan Motors Settles in Military Kickback Case

December 23, 2008 by · Leave a Comment 

Spartan Motors Inc. and its subsidiary, Spartan Chassis Inc., have agreed to pay the United States $1.7 million to resolve allegations that it paid kickbacks to an employee of Force Protection Inc. to receive the subcontract to provide chassis for armored vehicles for the United States Military, the Justice Department announced today (Dec. 23). The United States contends that Spartan paid approximately $100,000 to an employee of Force Protection in return for that employee’s agreement to have... Read more

Dan Gamel Mothballs Several California Outlets

December 22, 2008 by · Leave a Comment 

Dan Gamel, struggling with a lousy economy, closed all but one of his California dealerships Friday (Dec. 19) and laid off 150 employees for three months while he sells motor coaches online and by appointment. The Fresno Bee reported that the Camp America store and dealerships in south Fresno, Modesto and Rocklin are closing until spring. The Redding outlet is staying open because the store is profitable, Gamel said. All the real estate – totaling 85 acres with much of it on prime frontage –... Read more

Furniture Maker Villa Takes Stocks as Payment

December 22, 2008 by · Leave a Comment 

Villa International, a supplier of high-end furniture for the recreational vehicle industry, will accept selected common stock as payment from coach owners for its hand-crafted furniture using stock values priced as of July 1, 2008. According to a press release, stocks can be used as payment for furniture upgrades up to a total purchase price of $5,000. For example, a custom upgrade that would normally cost $2,000 would only require approximately 62 shares of Merrill Lynch common stock, which closed... Read more

NHTSA Issues Latest RV-Related Recall List

December 22, 2008 by · Leave a Comment 

The National Highway Traffic Safety Administration (NHTSA) has issued recall notices for the following products related to the recreational vehicle industry: • 202 (2006) Monaco Monarch SE, MY 2009 Riptide, (2006) Holiday Rambler Admiral SE, (2007-2009) Arista, (2007-2009) Safari Passage, (2006) Simba, Trek Gas, and (2006-2007) R-Vision Trail-Lite and Trail-Aire motorhomes built on Workhorse chassis. The castle nut that retains the steering drag link to the pitman arm may have been improperly torqued... Read more

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