Immelt Defends GE’s Lower U.S. Tax Payments

March 31, 2011 by · Leave a Comment 

Jeffrey Immelt GE CEO Jeffrey Immelt said the company has paid lower taxes over the past few years than what a company would typically pay mainly because of $32 billion in losses suffered by its GE Capital unit after the U.S. financial crisis of 2008. He said GE’s taxes are expected to increase in 2011 as the company continues to recover and rebuild its profits, Market Watch reported. The nation’s sixth-largest company has drawn sharp criticism after a New York Times article on how GE manages... Read more

Jayco Kicks Off Blue Tag National Sales Event

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Aimed at helping families gear up for the camping season and spend quality time together in the outdoors, Jayco Inc. has announced its annual Blue Tag National Sales Event. Jayco dealers throughout the U.S. and Canada are participating in the sale, promoting the event across three different media (tabloids, TV and radio), according to a news release. The event marks the fourth consecutive year dealers have united in a large-scale promotional effort to boost sales, reduce 2011 inventory and promote... Read more

RVDA of Canada Updates 2011-12 Show List

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The Recreation Vehicle Dealers Association (RVDA) of Canada has issued  its revised show schedule for the rest of 2011 and 2012. All shows are open to  the public. Following is the revised list: April Kitchener RV Show, April 1-3, Kitchener Memorial Auditorium (The Aud), Kitchener, Ontario; Contact: Larry Boyd, (888) 331-8885; Email:; October Toronto Fall RV Show, Oct. 29-31; Toronto Congress Center, Toronto, Ontario; Contact Larry Boyd, (888)... Read more

Shasta’s Revere Trailer Creates New Memories

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Shasta Revere travel trailer Shasta’s new Revere line of conventionally built travel trailers really hits the mark in towable luxury. “We’re very pleased with Revere’s looks, inside and out,” Brad Whitehead, resident of Shasta, stated in a news release. “I think you’ll find its price on the attractive side, too.” Outside, a one-piece seamless, fully walkable EPDM rubber roof and .024 aluminum exterior skin combine to provide long-lasting durability and easy maintenance on Revere’s... Read more

Patrick Industries Signs Senior Credit Facility

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Patrick Industries Inc. announced today (March 31) that it has entered into a credit agreement with Wells Fargo Capital Finance LLC as the lender and agent, establishing a four-year $50 million revolving secured senior credit facility. Additional subordinated debt financing of $5 million was provided by Tontine Capital Overseas Master Fund II LP, a significant shareholder of Patrick, and Northcreek Mezzanine Fund I LP in the form of secured senior subordinated notes, according to a news release.... Read more

Berkshire Hathaway Inc. Stock Falls 2% Today

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Berkshire Hathaway Inc. stock fell about 2% or more than $2,660 per share in trading today (March 31) on Wall Street following Wednesday’s suprise announcement that David Sokol was resigning. Sokol, long considered by outsiders to be the most likely candidate to replace Warren Buffett, resigned after purchasing shares of a company he suggested Buffett buy, the Wall Street Journal reported. Berkshire owns roughly 80 subsidiaries, including No. 2 RV manufacturer Forest River Inc. Its insurance... Read more

Thor Dealer Inventory Financier Ally Filing IPO

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The former finance arm of General Motors said today (March 31) it is preparing an initial public offering as it seeks to repay billions in government aid received during the financial crisis, Associated Press reported. Ally Financial Inc. said in a filing with the Securities and Exchange Commission that the IPO could raise up to $100 million, but the actual offering will likely be larger. The preliminary estimate of proceeds often changes closer to the IPO date as the offering is pitched to investors. GM... Read more

$200M Theme Park Near Elkhart, Ind., Canceled

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Developers behind a $205 million family holiday village just south of Elkhart, Ind., have canceled the project after not being able to secure financing, Inside INdiana Business has reported. The decision follows last fall’s closing of the American Countryside Farmers Market, which was on the same massive piece of property as the planned resort. When announced more than a year ago, developers anticipated the project would create 500 permanent and another 500 construction jobs in Elkhart County. An... Read more

Vince Gill Headlines Good Sam Rally in Oregon

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The Good Sam Rally Presented by DISH Network announced today (March 31) that they have booked award winning County Music artist Vince Gill to perform Friday evening, July 15, at the Deschutes County Fairgrounds and Expo Center in Redmond, Ore., much to the delight of registered rally guests. When it comes to Country Music achievement, Vince Gill outshines them all, according to a news release. Not only has he received 19 Grammy Awards, 18 CMA Awards, Entertainer of the year twice and five CMA... Read more

200 RVs Sold at 2nd Chinese RV/Camping Expo

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More than 10,000 visitors attended the second Beijing RV and Camping Exhibition. Among the 80 RV models on display were a number of Class A. B and C coaches. China’s emerging camping and RV industry was on full display March 25-27 during the second Beijing International RV and Camping Exhibition. More than 80 motorhomes and travel trailers — plus exhibits featuring parts and accessories, outdoor equipment, ATVs and even motorboats — covered nearly 20,000 square meters at the Beijing RV Camping... Read more

Aluminum Extruder Grows, Looks Beyond RVs

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A $1.3 million-plus investment in a new piece of equipment will allow an aluminum extrusion company in northern Indiana that serves the RV industry to expand into a new market and ultimately create new jobs. Hydro Aluminum Co. in North Liberty recently completed the first phase of a project that will allow the company to expand into the heavy transportation market, the South Bend Tribune reported. The upgrade to the existing piece of equipment will streamline operations for the North Liberty plant... Read more

Kropf Fills Big Order for Hoosier Campground

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Prototype of the Christmas Cabins being built by Kropf Industries Inc. for Lake Rudolph Campground Kropf Industries Inc., Goshen, Ind., built and has delivered 25 recreational park trailers for Lake Rudolph Campground & RV Resort in Santa Claus, Ind. The resort calls them “Christmas Cabins” and will open them for rental starting June 15, according to a news release. These 25 new cabins feature a large loft, king bedroom, upscale appliances, a covered deck and Christmas... Read more

Coast Reports Modest 5.2% Profit Rise in 2010

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Coast reports 2010 results The Coast Distribution System Inc. today (March 31) reported financial results for the full year and fourth quarter ended Dec. 31, 2010, highlighted by a modest improvement in net earnings on a 5.2% increase in net sales for the year. Following is the company’s news release. Year Ended December 31, 2010 vs. 2009 Net income increased to $152,000, or 3 cents per share, in 2010 from $99,000, or 2 cents per share, in 2009. This increase was primarily attributable to... Read more

Saskatchewan Dealer Launching New Website

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Launches new website. Moose Jaw RV Supercenter in Moose Jaw, Saskatchewan, a supplier of recreational vehicles in Moose Jaw and Weyburn, has launched a new website at The new online home of the RV specialists will allow new and existing customers the convenience of browsing through the available fifth-wheels and travel trailers from the comfort of their own home. Each product showcased online features a unique light box image gallery, and detailed information on the unit, effectively... Read more

El Monte RV Launches Two Dealer Promotions

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El Monte RV announced two new dealer promotional programs for this spring. The first program encourages dealers to buy three  motorhomes and get two additional motorhomes on consignment until May 31. The second program is a $500 spiff to the salesperson for every El Monte RV vehicle sold until May 31. “These are great initiatives to help boost spring sales and we are gearing up to be able to meet the increased demand for our motorhomes,” Jeff Gibson, fleet sales manager for El Monte RV, stated... Read more

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