Reading on the other manufactured home industry trade sites or journals might lead one to believe that all is well and good in MHVille. A look at the latest new manufactured home shipment data says otherwise. Or if the word ‘antitrust’ comes up at all with bloggers, it may be to mock this publication for making a monopoly busting case a reasonable possibility. Mock away, because the evidence of a new wave of antitrust action in Washington, D.C. is what it is. Our featured report this evening is a report that outside of the D.C. Beltway, some 30 state attorney generals will be launching antitrust probes against Alphabet’s Google. When one ponders the reasons why Google is being targeted, don’t they in several ways mirror what has been occurring in manufactured housing? See our featured report, further below.
Every evening our headlined 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 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.
Headlines from left-of-center CNN Business.
· Facebook’s latest leak
· Hundreds of millions of phone numbers once tied to Facebook accounts posted online
· Slack’s stock falls 15% after first earnings report since going public
· How Walmart became an unlikely champion of gun safety
· The White House says the Fed is the No. 1 problem facing the economy. It’s not
· Stocks finish higher: Dow clips 239 points and Nasdaq gains 1.3%
· Ford recalls more than 500,000 vehicles
· National security officials meet with big tech companies in preparation for 2020 election
· UPS has new hybrid trucks with a neat trick
· Twitter temporarily suspends ability to tweet via text message after CEO hacked
· Uber and Lyft both hit all-time lows
· WeWork names first female board member ahead of IPO
· Big companies feel the sting of Trump’s trade war. But small businesses are in agony
· Opinion: The trade war hasn’t hit its peak yet. The US and China will both pay a heavy price
· Porsche’s first electric car can go from 0 to 60 mph in under 3 seconds
· BOEING IN CRISIS
· United says it will allow passengers to avoid 737 Max flights
· American Airlines extends Boeing 737 Max cancellations through Dec. 3
· A Russian company is the first customer to sue Boeing over its 737 Max planes
· The 737 Max crisis could destroy Boeing’s plans for the 797
· Boeing to take nearly $5 billion charge for 737 Max woes
· Google will pay $170 million to settle YouTube privacy accusations
· Chinese face-swapping app backpedals after backlash
· Huawei’s fate in the US is uncertain
· Federal officials raise concerns about White House plan to police alleged social media censorship
· Opinion: The internet has become a dark place. I want the old one back
Headlines from right-of-center Fox Business.
· DEMOCRATS’ PROGRESSIVE AGENDA CAN’T BE PAID FOR BY TAXING THE RICH, STUDY FINDS
· US stocks rebound as tensions in Hong Kong ease
· Fed Beige Book reports modest growth during the summer, despite trade uncertainty
· China slaps US with trade war complaint
· THE BIGGEST RETIREMENT SAVINGS MISTAKES AMERICANS MAKE
· People are withdrawing money from their retirement accounts to pay off debt or make a down payment of a home, which is often considered a financial mistake, according to a recent survey.
· Missing Connecticut mom’s estranged husband arrested again
· Hurricane Dorian brings nearly $1M worth of cocaine to Florida beaches
· Porsche and Lamborghini unveil electric cars
· Hurricane Dorian: What the Waffle House Index is saying
· LinkedIn names this year’s top 50 startups to work for
· Stripper who inspired new J.Lo movie blows the lid off CEO spending
· Gen. James Mattis praises Trump administration’s approach to China
· SpaceX satellite disaster narrowly avoided after communications ‘bug’
· Beverage industry pushes back against concerning diet soda study
· American Airlines president explains why the company is struggling
· Royal Caribbean donates to Hurricane Dorian disaster relief
· UK Parliament blocks Boris Johnson’s no-deal Brexit
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Tonight’s Business/Market/Political Impact Spotlight –
The Washington Post, Reuters, and CNBC are among the media outlets that say that a coalition of 30 state attorneys general will be launching a probe of Google, let by the State of Texas.
The consensus is that the formal announcement will come on Monday, Sept 9, 2019.
“We continue to work constructively with regulators, including attorneys general, in answering questions about our business and the dynamic technology sector,” Google representative Jose Castaneda said.
State officials have been noted as saying that the big tech firms like Google have so much user data that it is hard for newcomers to compete.
But that standard would apply to Clayton Homes too, wouldn’t it?
Some of the specifics of antitrust law has been explored previously on MHProNews as some of the related reports below will link up.
On the one hand, settlements by Facebook for $5 billion dollars or a settled fine with YouTube for $170 million may send the message that ‘slap on the wrist’ sized fines is the best that will come from the Trump Administration.
The flip side is reports that the FTC, DOJ, and the president himself plan to do more on antitrust, especially with respect to Google and big tech.
Several 2020 Democratic hopefuls are making antitrust a campaign issue. While it may not yet be a top 5 issue for voters, it is not difficult to imagine how it could become so. Along side affordable housing and antitrust, that would marry a top 5 topic with one that could bring some energy to segments of the population that may not care as much otherwise.
While it shouldn’t be a political issue – this ought to be straight up enforce the law – in effect, voters can influence this in several ways. So too can big business. Lobbying by the tech giants, Berkshire Hathaway and others, is reportedly at or near record levels.
Stay tuned as this story unfolds. For a more manufactured home specific scenario, see the first link, below.
Treasury Secretary Mnuchin “Absolutely Right” AG Investigating Antitrust Issues, plus Manufactured Home Stock Updates
“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates
Democrats Take Aim Big Business, Breaking Up Monopolies, Antitrust – plus Manufactured Housing Market Updates
Washington Leak – Justice Department Prepares Major Antitrust Investigation
Antitrust – “You Can’t Penalize Success But Can Penalize Bad Behavior.” Former Ast AG Bill Baer, plus Manufactured Home Market Updates
Antitrust Heats Up With Supreme Court Ruling, Monopolization Legal Experts Weigh In, Clayton-Related Comment Connection
Restraint of Trade, Manufactured Housing Institute, Clayton Homes, 21st Mortgage, Vanderbilt Mortgage, and Antitrust Law
Lina Khan, AntiTrust Legal Queen, Set to Join Democratic Staff, FAANG & BM, Beware – Plus MH Market Updates
Draft EO for Trump Administration AntiTrust Order Obtained by MHProNews
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.
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Updated for Summer 2019…
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.
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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.