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ELS Sees RV Revenue Decline For First Quarter

January 28, 2009 by · Leave a Comment 

Campground use was up slightly in the fourth quarter of 2008 at RV parks owned by Equity Lifestyle Properties Inc. (ELS) and appears to be up again so far this year, ELS management reported in an investors’ conference call on Tuesday (Jan. 27). “For the first three weeks of the year, we have earned approximately $33,000 per day, about 1% ahead of last year,” reported Michael Berman, CFO, in reference to transient RVers. However, he added, “It appears that our booking window has shortened... Read more

Go RVing Tie-in Program Expands ’09 Services

January 28, 2009 by · Leave a Comment 

To help RV dealers, campgrounds and retail show promoters reach today’s budget-conscious consumers, Go RVing has expanded the industry tie-in program with more resources for 2009. According to a release, participants can build on consumer recognition of the Go RVing national advertising campaign by downloading customizable, value-themed spin-off ads for local use with just a few clicks of the mouse. “When times are tougher like this, it is more important than ever for us to be more vocal in getting... Read more

Shipments Off 75% in December, 33% for Year

January 28, 2009 by · Leave a Comment 

Last year ended with a thud for the recreational vehicle wholesale sector as shipments dropped 75% from 2007, pulling year-end totals to a sharp 32.9% decline. According to the Recreation Vehicle Industry Association (RVIA), overall December shipments totaled 5,600 units compared with 22,400 a year ago. For the full year, deliveries fell to 237,000 units compared with 353,400 the year prior. In November economist Richard Curtin, director of Consumer Surveys at the University of Michigan, projected... Read more

Fed to Keep Key Rate Unchanged for ‘Some Time’

January 28, 2009 by · Leave a Comment 

The Federal Reserve, acknowledging the economy has continued to deteriorate, signaled Wednesday that it will keep using unconventional tools to cushion the fallout, including keeping a key interest rate at a record low for quite “some time.” The Associated Press reported that the Fed agreed — with one dissent — to keep the targeted range for the federal funds rate between zero and 0.25 percent. The funds rate is the interest banks charge each other on overnight loans. Economists predict... Read more

Trailer Life Publishes ‘09 ‘EXIT NOW’ Directory

January 28, 2009 by · Leave a Comment 

Trailer Life Publications has launched its 2009 EXIT NOW: Interstate Directory, an easy-to-use “co-pilot” telling RVers exactly what’s at every exit on every U.S. interstate. Acquired in 2008 as the official exit directory for the Good Sam Club and its 1 million members, the 600-page, spiral-bound directory contains color-coded listings and information on 146,773 businesses and 17,797 interstate exits. There are also 246 maps to help RVers locate travel centers, rest areas, post offices, hotels,... Read more

Equity Lifestyle Properties Reports 4Q FFO Falls

January 27, 2009 by · Leave a Comment 

Equity LifeStyle Properties Inc. reported fourth quarter Funds From Operations (FFO) of $20.6 million compared to $21.8 million in the same period last year. RTT News reported that net income available to common stockholders totaled $0.0 million versus $4.7 million in the year-ago quarter. Property operating revenue for the quarter was $110.33 million compared with $91.08 million in the previous year period. The Chicago-based real estate investment trust also announced that it will be separating... Read more

Fleetwood’s Stock Listed on OTC Bulletin Board

January 27, 2009 by · Leave a Comment 

Fleetwood Enterprises, Inc. announced today (Jan. 27) that its common stock is now also quoted on the OTC Bulletin Board under the symbol FLTW.OB, as well as on the Pink Sheets. The NYSE suspended trading on shares of the recreational vehicle and manufactured housing builder on Jan. 5. The company was informed that it wasn’t in compliance with NYSE requirements. Fleetwood stock ended Monday’s trading at 10 cents per share.  Read More →

250 Expected at ‘Rev Up in Reno’ Convention

January 27, 2009 by · Leave a Comment 

Organizers are hoping for a turnout of at least 250 people to the “Rev Up in Reno” campground convention March 2-4 at John Asucaga’s Nugget in Reno, Nev. The California Association of RV Parks and Campgrounds (CalARVC) is lead association among four state organizations sponsoring this first-ever Western conference of campgrounds groups. The other three sponsors are the Oregon Campground Association, the Arizona Association of RV Parks and Campgrounds and Idaho RV Campgrounds Association. Campground... Read more

Elkhart Mayor Expects Piece of Stimulus Funds

January 27, 2009 by · Leave a Comment 

After a day in the nation’s capital, Elkhart, Ind., Mayor Dick Moore said he’s confident the city will not be forgotten as a federal economic stimulus plan takes shape in the coming weeks. “I do believe that help is on the way,” Moore said at a Monday (Jan. 26) press conference. As reported by the Elkhart Truth, Moore and two members of his administration traveled to Washington last week, and met with U.S. Rep. Joe Donnelly, D-Granger, and staff of U.S. Senators Evan Bayh... Read more

January Consumer Sentiment Hits Record Low

January 27, 2009 by · Leave a Comment 

U.S. consumer confidence fell to a record low in January as a downtrodden housing sector and worsening job prospects kept the country in a somber mood, according to a Reuters report. The Conference Board, an industry group, said its sentiment index fell to 37.7 from a revised 38.6 in December, confounding forecasts for a small uptick. “Consumers remain quite pessimistic about the state of the economy,” said Lynn Franco, director of The Conference Board Research Center. “Until we... Read more

Stag-Parkway Trade Show Focuses on Solutions

January 27, 2009 by · Leave a Comment 

The 2009 Stag-Parkway Inc. Business Solutions Trade Show Jan. 20-22 at the Paris Hotel and Casino in Las Vegas, Nev., featured 150 suppliers and showcased a number of business solutions that are available to dealerships from the RV industry’s leading aftermarket parts and accessories distributor. “I have to say that everybody here was very pleased with the tenor of the event,” John Spaulding, senior vice president of merchandising for Stag-Parkway, told RVBusiness. “For the most part, the... Read more

Thor: Still Business as Usual with FreedomRoads

January 26, 2009 by · Leave a Comment 

News late last week that the nation’s largest recreational vehicle manufacturer, Thor Industries Inc., was loaning $10 million as working capital to the country’s biggest RV retailer, FreedomRoads LLC, actually represents little change in the ongoing relationship between the two industry leaders, reports Thor COO Richard “Dicky” Riegel III. Even though FreedomRoads President Marcus Lemonis last week confirmed that Thor would become a “preferred vendor” for the 77-store retail chain as... Read more

Coachmen Issues Cautionary Statement on 4Q

January 26, 2009 by · Leave a Comment 

Coachmen Industries Inc. today (Jan. 26) issued a cautionary statement regarding its fourth-quarter results. “We will be releasing our financial results for the full year 2008 and the fourth quarter of 2008 in February,” said president and CEO, Rick Lavers. “However, there have been so many changes and events during the fourth quarter of 2008 that our results will appear to be unusual. We anticipate our Housing Group will show a modest profit for the full year 2008, despite losses in the... Read more

GE Capital an Achilles Heel for Conglomerate

January 26, 2009 by · Leave a Comment 

General Electric Co. reported a 44% drop in quarterly profit Friday (Jan. 23) on weakness at GE Capital and its lighting and appliance units, and warned that 2009 would be “extremely difficult.” Reuters reported that its shares tumbled nearly 11% to their lowest point since early 1996 as investors continued to worry about the U.S. conglomerate’s ability to maintain its dividend. GE Capital – the company’s Achilles heel for the past year – remained the biggest drag on its... Read more

Avondale Outlines Outlook for Thor, Drew

January 26, 2009 by · Leave a Comment 

Kathryn Thompson, analyst for investment firm Avondale Partners LLC, recently met with management for builder Thor Industries Inc. and Drew Industries Inc., parent to key industry suppliers Lippert Components Inc. and Kinro Inc. In summary, Thompson stated in a note to investors: “After spending time earlier in the week with Drew and Thor, we remain confident that both companies will survive the current market downturn. As both company’s noted in meetings, the tough thing right now is timing... Read more

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