Markets rose modestly today on a day when an array of topics could qualify for a fine focus report. Our choice for this evening will be the interview on CNBC of the Securities and Exchange Commission co-directors of their Division of Enforcement, Stephanie Avakian and Steven Peikin. It could prove useful to industry professionals and investors today as well as in the days ahead. Just beyond our left-right headline bullets, plus our evening market graphics and standard insights, that will be our spotlight tonight.
Longtime readers please note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Newsy, Peeling Back Media Bias, Manufactured Housing Sales, Investing, Politics, and You
Headlines from left-of-center CNN Business.
- Four-year contract ratified – Auto workers OK labor deal at Fiat Chrysler
- FAA chief: Boeing 737 Max won’t be back in the air in 2019
- Markets in 2020: From the trade war to a slowing economy, here’s what investors are watching for
- Chevron takes a $10 billion hit
- Peloton stock continues to spin out of control
- Using machine learning to make work ‘suck a little less’
- Top 2019 searches: Here’s what you Googled this year
- Saudi Aramco shares spike after historic market debut
- IHOP experiments with a new restaurant concept
- Time magazine names its person of the year
- GM unveils even bigger Tahoe and Suburban SUVs
- Sinclair drops political commentary segments by former Trump aide Boris Epshteyn
- Startup raises $28 million to tackle retirement industry
- GameStop shares plunge
- Fed leaves rates steady, signals pause in 2020 even as Trump pushes for more cuts
- New Shepard takes off on Mission NS-10 – January 23, 2019
- Jeff Bezos’s Blue Origin launches 12th test flight of space tourism rocket
- Popeyes debuts a chicken-inspired ugly Christmas sweater
- Walmart apologizes for sweater with Santa and cocaine
- Lord & Taylor is (sort of) returning to NYC
- The Santa Claus business is booming
- The best cookies you can buy in a store, ranked
- Apple’s new Mac Pro could cost you more than $52,000
- Is the lightning charging cable going away?
- JPMorgan: Four 5G iPhones could come in 2020
- What you need to know about the AirPods Pro
- Apple says it isn’t tracking your phone if location sharing is turned off
Headlines from right-of-center Fox Business.
- Nonbinary gender option on drivers’ licenses is guzzling taxpayer funds
- Oregon was the first state to offer the option in 2017.
- Harvey Weinstein reaches massive tentative deal with accusers: report
- Fed to keep interest rates unchanged, signals no hikes through 2020
- RECAP: Fed Chair Powell’s final press event of the year
- Stocks gain slightly at end of two-day Fed meeting
- NFL salary cap could hit major milestone in 2020
- Why Trump should cancel China trade deal — and raise tariffs
- Hacker accesses Amazon Ring camera in girl’s room, said he was Santa: report
- Disney sued for using these three words on ‘Frozen 2’ merch
- Disney sued for using these three words on ‘Frozen 2’ merch
- WATCH: Police testing new Batman-like tool to subdue suspects
- ‘EVIL PEOPLE WANT ME QUIETED’ – Prince Andrew accuser makes chilling public plea if ‘something happens’
- Home Depot says crisis may be contributing to rising theft
- Dwayne Johnson makes sweet investment
- New drugs show rare promise in advanced cases of certain cancer
- How much money Rudy Giuliani could be forced to fork over in divorce battle
- US Army to fund rare earth metal plant for weapons development
- College Football Hall of Fame to debut Goodyear Blimp exhibit
- Amazon Music releases Mariah Carey Christmas documentary
- Tokyo Olympics already set to smash TV advertising revenue record
- This town opened its own grocery store when big brand left
- Apple CEO Tim Cook: Not all monopolies are ‘bad’
- Staggering cost of Americans’ dogs, cats revealed
- Florida Supreme Court considering medical marijuana law
- Peloton rival Echelon cycles into market with lower price tag
- Independent bookstores persevere in spite of Amazon, rising admin costs
- BAD OMEN: America’s top CEOs lower economic outlook
- Peloton stock pedals toward abyss after losing touch with reality
- China buys US soybeans after Beijing issues new tariff waivers: traders
- Sports talk, smoke breaks still fueling male workers’ rise up corporate ladder: study
- Boeing whistleblower reveals why he was ‘gravely concerned’ before deadly crashes
- Shoshana Zuboff: The scholar who diagnosed ‘surveillance capitalism’
- Free trade organization pleads with Trump to further delay December tariffs
- Pipe bomb found at scene of deadly Jersey City shootout: officials
- Chuck Grassley: China tariffs probably won’t hit on Dec. 15
- Twitter CEO floats dramatic change to social media platform
- Ford’s 2020 trend report reveals troubling finding on loneliness
- Beyond Meat serves Canada with Beyond Beef
- Apple’s new top-of-line MacPro costs more than Tesla’s Cybertruck
- School director dodges serious punishment for wearing ‘flasher’ costume in front of kids
- What to make of the biggest IPO of all time
- IHOP debuts Flip’d, a fast-casual concept for breakfast on the go
- P Diddy reaches out to hedge fund king Dalio for life-changing advice
- Energy giant pairs with renewable company to turn cow manure into natural gas
- Toyota North America CEO Jim Lentz to retire after 38 years
- Tesla files patent for lasers that clean your car’s windshield
- Who’s really cashing in on big money free-agent MLB contracts
- Greta Thunberg becomes youngest-ever TIME’s Person of the Year
- San Francisco is sick of being a test tube for tech, hits back with permit
- Amazon deliveries slip, take longer after Cyber Monday heading to holidays
- DeVos: Defrauded students may only get partial loan relief
- Bloomberg pours $100 million into 2020 advertising blitz
- Three men charged with $722M cryptocurrency Ponzi scheme
- FDA issues warning to Alkermes over Vivitrol opioid addiction treatment ad
- Royal Caribbean sued by family of toddler who fell to her death
- Goldman’s bailout amount for WeWork resembles Adam Neumann’s exit package
- New Nike swimwear line includes swim hijab
- Real estate company shares $10M bonus with employees
- ‘Tis the ‘ugly sweater’ season that’s become a multimillion-dollar trend
- Georgia city cancels veteran’s parade over Confederate flag lawsuit
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics, and Investing Meet
According to the video interview, there are some 17,000 to 20,000 tips, complaints and referrals to the SECs every year. Conflicts of interest are among the types of complaints that are the basis for investigations.
- Detecting illegal trading is part of the job for the Securities and Exchange Commission and this year it has brought 862 enforcement actions.
- This year, for example, the SEC brought actions against 18 Chinese traders for manipulating the prices of over 3,000 stocks.
- It’s not just trading fraud the SEC is monitoring — there were many actions against companies reporting false or inaccurate financial information.
Scammers, fraudsters, insider traders, Ponzi schemers, stock spoofers — the Securities and Exchange Commission has seen it all.
The CNBC reporter spent at SEC headquarters with Chairman Jay Clayton and the co-directors of the Division of Enforcement, Stephanie Avakian and Steven Peikin. The visit included the Forensics Lab, a copper-lined room where the SEC extracts data from cell phones and computers from traders and others who may be engaged in suspicious activity.
Detecting illegal trading is a large part of the activities here. This year, for example, the SEC brought actions against 18 Chinese traders for manipulating the prices of over 3,000 stocks.
Before going further, let that sink in. Instead of Russia, Russia, Russia – which is certainly a threat – there is also China, North Korea, Iran and other nations that be concerned about. In several respects, other than the total number of nuclear weapons, China is arguably the larger threat to the U.S. militarily and economically.
Hong Kong, China-U.S. Trade, Manufactured Housing Supply Chain, American Policy Disconnects
Back to the CNBC report, in January 2019, the SEC charged nine defendants with hacking into the SEC Edgar database and extracting corporate announcements — including earnings announcements — before they were public.
- Suspicious trading occurred in advance of more than 150 corporate announcements.
- It’s not just trading fraud the SEC is monitoring, said the watchdogs. There were many actions against companies reporting false or inaccurate financial information. That is one of several areas that manufactured housing professionals and investors might want to pay attention to, for reasons that include, but are not limited to, the points in the report below.
Clayton Homes, 21st Mortgage, MHVillage, Manufactured Housing Institute Leaders Challenged
The interview reveals some fines assessed.
- Facebook was hit with a $100 million civil fine because they described the misuse of user data as hypothetical when they knew user data had been misused.
- Nissan had a $15 million fine for false financial disclosures.
- There was fraud in digital assets and unlawful promotion of Initial Coin Offerings or ICOs.
- The SEC brought cases against mutual funds and advisory firms. 95 investment firms were forced to return $195 million to mutual fund investors for charging excessive fees, among other things.
Altogether, the SEC brought 862 enforcement actions and obtained judgments and orders totaling more than $4.3 billion in disgorgement and penalties in fiscal 2019. And $1.2 billion has been returned to harmed investors.
The message from SEC’s Clayton: “We want the bad guys to know we’re watching.”
Publicly Traded Manufactured Housing Firms – Which Source Do You Trust More? Why? MHI, MHARR, Others
Food for thought for the powers that be in MHVille? Plus a reminder to investors that Bernie Madoff may hold the record, but he was far from alone in pulling stock/investing related schemes.
SEC, Cavco Industries, Duty to Serve Lending, Investing and Claimed Manufactured Housing Institute Corrupt Practices – Facts & Analysis
More Mixed News on October 2019 Manufactured Housing Production, Shipment Data
Need for Workforce Housing Keeps Vacancy Tight and Rent Rising; Investors Eyeing Communities for Yield and Cash-Flow Potential, Says Marcus & Millichap Research, Analysis
HUD’s Brian Montgomery – William ‘Bill’ Matchneer Exposé – If the Shoe Fits, Affordable Housing, Manufactured Homes – Impacting American Dreams?
What Warren Buffett, Kevin Clayton, Tim Williams, Berkshire Brands and Manufactured Housing Institute Leaders Fear
New Documents Revealing Layers of Manufactured Home Industry Organizational and Public Officials Corruption – Spotlight on Wells Fargo
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
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Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
Celebrating 10 Years of Goal- and Solution-Oriented Manufactured Home Industry Innovation Information, and Inspiration for Industry Professionals
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Disclosure. MHProNews holds no positions in the stocks in this report.
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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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