The latest in an ongoing consumer fraud case has settled, and there could be significant implications for the manufactured housing industry. That’s our market focus for tonight.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.
Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
MH “Industry News, Tips and Views, Pros Can Use.” ©
ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here.
Selected headlines and bullets from CNN Money:
- $3 gas coming to a station near you
- Tesla’s cash stockpile shrank by $700 million last quarter
- Fed leaves rates unchanged and says inflation is moving higher
- Senator pressures Uber after CNN investigation into driver assaults
- Hulu passes 20 million subscribers and announces offline viewing
- Russian oligarch can save his sanctioned companies. But will he?
- The US dollar is making a huge comeback
- Rising costs start to squeeze American businesses
- Molson Coors tanks on weak US beer sales
- MoviePass brings back its movie-per-day subscription
- U2’s new show is a technical wonder
- Bono on why U2 is embracing AR tech on tour
- Pentagon: Stores on US bases should stop selling Huawei and ZTE phones
- Apple rewarded its investors with a record cash giveaway
- Apple sold only 3% more iPhones last quarter, but profit soared
- Cambridge Analytica announces closure
- Snapchat’s redesign hasn’t helped the company
- Xerox CEO quits in win for Carl Icahn
- Under Armour is still under siege in the US
- Russian military spending drops for first time in 20 years
- Why the US-China trade talks will struggle to reach a ‘grand bargain’
- One way to get retirement income for the rest of your life
- Iconic guitar maker files for bankruptcy
- Qantas will retire its Boeing 747 fleet earlier than planned
- Remains of the Weinstein Company sold — to the only real bidder
- Why the National Enquirer’s Trump connections are under scrutiny
Selected headlines and bullets from Fox Business:
- Tesla earnings beat estimates as Model 3 production improves
- Dow declines as Fed says inflation approaching target
- Snap closes at record low on redesign backlash
- Cambridge Analytica is shutting down, reports say
- Quarterback Tom Brady on NFL ratings slump: ‘I don’t follow it like I used to’
- Comcast CEO wants Fox assets Disney is purchasing: Gasparino
- Southwest flight diverted as window cracks
- Starbucks arrests in Philly: Two settle for $200K pledge from city for fund
- Fed holds rates steady as inflation picks up
- Trump sanctions on Russia hit Putin ‘right between the eyes’: Bill Browder
- Escape from New York: High costs drive out AllianceBernstein
- Mississippi bridge safety concern triggered 100 closings: Gov. Phil Bryant
- Pro-gamer team recruits youngest-ever 13-year-old ‘Fortnite’ player
- Here are the jobs with the fastest-growing & highest wages
Today’s markets and stocks, at the closing bell…
S&P 500 2,635.67 -19.13(-0.72%)
Dow 30 23,924.98 -174.07(-0.72%)
Nasdaq 7,100.90 -29.81(-0.42%)
Russell 2000 1,554.92 +4.58(+0.30%)
Crude Oil 67.68 +0.43(+0.64%)
Gold 1,305.80 -1.00(-0.08%)
Silver 16.41 +0.28(+1.72%)
EUR/USD 1.20 -0.0039(-0.30%)
10-Yr Bond 2.96 -0.01(-0.40%)
Manufactured Housing Composite Value (MHCV)
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
Drawing conclusions from one industry and applying it to another is always speculative at best.
That said, the settlement of the AZ state attorney general with VW could hold significant lessons for major companies in the manufactured housing industry, and for their preferred trade association.
What are the facts, lessons, and why should MH Industry pros care?
1) When reports emerged, that VW might be cheating, the automaker went into denial and distraction mode.
2) Denials and distractions are the same pattern apparently being used by some in MHVille, who’ve been charged with their own alleged scandal and coverups.
This case has been covered by dozens of media outlets, let’s pick one and read the top lines. Then, let’s do the math.
“Arizona has reached a $40 million settlement with Volkswagen over advertising claims in a nationwide emissions cheating scandal, state Attorney General Mark Brnovich announced Wednesday.
Under the settlement, Volkswagen must pay individual Arizonan consumers who bought or leased qualifying diesel vehicles manufactured by VW, Audi and Porsche from 2008 through 2015 up to $1,000 each for a combined $10.5 million in direct restitution.
Volkswagen will also pay $20 million for state public education funding, with any remaining money to be used for legal costs and other future fraud investigations,” said a report in the Seattle Times.
If you impute the cost per unit for the AZ case settled at roughly $4,000 each ($1000 per vehicle, but $3000 each vehicle in added settlement costs), and applied that to manufactured housing’s 8.8 million housing units, you’d have a $35,200,000,000, or $35.2 billion case.
Given the various allegations and evidence already at work in MHVille related controversies and scandals, that might be a low total, as there are also businesses that would need to be compensated too.
The related reports provide some food for thought.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
LCI Industries, Patrick, UFPI and LP all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.