On July 14, 2020 the left-of-center Associated Press said that: “Joe Biden released a plan Tuesday aimed at combating climate change and spurring economic growth in part by overhauling America’s energy industry…” and deeper into that report said “Unlike several of his Democratic rivals in the primary, Biden makes no mention of banning dirtier-burning coal or prohibiting fracking, a method of extracting oil and gas that triggered a natural gas boom in the United States over the last decade. The issue is politically sensitive in some key battleground states such as Pennsylvania, and during the primary Biden limited his opposition to new fracking permits.”
Fast forward to the present and a fresh report from right-of-center Forbes which contradicts what AP said.
“With the addition of California Senator Kamala Harris to the ticket with Joe Biden, the Democratic Party carved its anti-oil and gas credentials into stone for 2020 heading into its virtual national convention this week. Harris, a co-sponsor last year of Alexandria Ocasio-Cortez’s “Green New Deal,” has repeatedly bragged about her intention to ban hydraulic fracturing and enforce an array of draconian restrictions on the oil and gas industry should she and her running mate win the election in November,” wrote David Blackmon, a Forbes Senior Contributor.
“A solid majority of 59% of likely voters said they believe there is a good chance Mr. Biden’s vice president will assume the presidency before the end of a first term, according to the Rasmussen Reports survey,” per the right-of-center Washington Times. “Even 49% of Democrats think it’s likely Biden’s vice president will become president in the next four years, although that compares to 73% of Republicans and 57% of voters not affiliated with either major party,” said the Rasmussen pollsters. “By comparison, 35% of all likely voters said Mr. Biden could probably make it through four years in the Oval Office.”
- Her party’s voters overwhelmingly admire Ms. Harris, with 76% of likely Democratic voters saying they have a favorable impression, including 48% with a “very favorable impression.”
- Just 18% of Democrats have a negative view of Ms. Harris, who has been in the Senate for three years after previously serving as California attorney general and San Francisco district attorney.
- Among all voters, Ms. Harris scores a respectable 49% favorability rating, with 44% rating her unfavorably.
- She got a “very favorable” rating from more Black voters (37%) than White voters (28%) and independent voters (25%).
- Roughly 33% of Black voters said they were more likely to vote for Mr. Biden now that he teamed up with Ms. Harris, but just as many, 32%, said it made them less likely to vote for the pair.
- Biden’s choice of Ms. Harris made 24% of all voters say they were more likely to vote for the Democratic ticket in November. But the same share, 24%, said it made them less likely to pull the lever for Mr. Biden.
- The other 50% of voters said Ms. Harris’s addition to the ticket had no impact on their decision in November.
- The survey of 1,000 likely voters was conducted on July 14 and 17 and had a margin of error of plus or minus 3 percentage points, according to Rasmussen Reports.
Back to pull quotes from Forbes is the following.
“As documented by the Institute for Energy Research (IER) in June, the official Biden/Harris campaign platform still lists a ban on “new oil and gas permitting on public lands and waters” as one of Biden’s major goals upon taking office. A recent study commissioned by the National Ocean Industries Association (NOIA) finds that such a ban would “cost almost 200,000 jobs, deny the U.S. government billions of revenue dollars, and push offshore production to other countries.” “That’s just the impact of a permit ban in the Gulf of Mexico, which currently accounts for about 15% of domestic oil production and only about 3% of U.S. natural gas production.”
It would remain to be seen how successful a Biden-Harris administration would be at getting such legislation achieved. That said, banning fracking or restricting coal mining – perhaps particularly is a state with a Democratic governor – might be something that a possible Biden Administration would try via executive order. After all, Senator Harris, per Snopes, said that: “Upon being elected, I will give the United States Congress 100 days to get their act together and have the courage to pass reasonable gun safety laws. And if they fail to do it, then I will take executive action.”
Harris is a supporter of the Green New Deal, which has several highly problematic aspects for those who are in the manufactured housing industry.
Summing the above up, there are evidence-based reasons to be concerned about what a Biden-Harris Administration might do to fracking, coal, and other aspects of the energy industry in America. That in turn would have ripple effects that could make areas like the Marcellus Shale potentially vulnerable.
That means it could have significant impact on UMH Properties, or for that matter, other businesses in parts of the United States where fracking, coal, or other forms of energy production exist that are frowned upon by the presumptive Democratic candidates. Texas, Oklahoma, Louisiana, the Dakotas, and other states could fall into that basket.
Pivoting to UMH Corporate Data
We continue to monitor our operations and government recommendations and have taken steps to make the safety, security and welfare of our employees, their families and our residents a top priority. ◆ Compliance with “stay-at-home” orders and “social distancing” practices, including remote working arrangements.
◆ Website allows for virtual community and home tours, online execution of applications and lease and sales agreements, online payment of rent and other enhancements.
◆ Suspension of mailing of rent increase notifications in March and April which delayed these increases – effect on May rent – $24,000; effect on June rent – additional $20,000.
◆ Suspension of evictions due to financial hardship related to COVID-19.
◆ Instituted deferred payment plans, as needed – less than 100 out of over 19,000 residents have executed these plans.
◆ Collections (1) – July rent 95% vs. 95% last year.
◆ Same property occupancy – Increased to 85.8% y/y, which is equivalent to 550 revenue producing sites.
◆ Dividend policy unchanged, no anticipated deviations.
◆ Balance sheet planned for a rainy day and positioned well to weather the storm.
◆ Workforce housing will remain a basic need in any environment.
- Information as of August 4, 2020.
The following is from the UMH power point linked here.
UMH Properties, Inc. is a public equity REIT (real estate investment trust) that owns and operates a portfolio of 123 manufactured home communities with approximately 23,200 developed homesites. These communities are located in 8 states throughout the northeast: New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, our Company owns approximately 1,700 acres of land for the development of new sites.
UMH has been in business since 1968, operating as a public company since 1985. The Company is listed on the New York Stock Exchange under the symbol UMH and included in the MSCI REIT Index (RMZ). Manufactured home communities provide recession resistant qualities, reliable income streams and the potential for long-term value appreciation.
This year, UMH won Manufactured Housing Institute’s Retail Sales Center of the Year Award. Last year, for the fourth consecutive time, UMH received MHI’s Land-Lease Community of the Year Award. In addition, UMH was honored by the MHI’s 2019 Interior Design Award and 2018 Operator of the Year Award. These awards recognize UMH’s long-term commitment to innovation and advancement of the manufactured housing industry, and our dedication to providing quality affordable housing at all of our locations.
UMH has a wholly owned taxable REIT subsidiary, UMH Sales and Finance, Inc. (S&F) which sells manufactured homes into UMH communities. If you are looking to purchase a new home in one of our beautiful communities, whether you would like to reside in a relaxing country setting or closer to an urban lifestyle, please visit the UMH Sales and Finance site at www.umh.com. UMH Sales and Finance, Inc. is licensed by the Pennsylvania Department of Banking, NMLS 200331.”
MHProNews Analysis and Commentary
Once upon a time, it may have been useful to have an award given by the Manufactured Housing Institute (MHI). It may still be useful to some who are uninformed or underinformed.
But for those who are ‘in the know’ about the troubling realities of MHI, there should be a serious question as to how good is an ‘award’ from an association that has a number of prominent members that have drawn serious – often months or years of sustained, negative – mainstream media?
Every company that is mentioned in the viral satirical John Oliver slam on manufactured housing companies – errantly dubbed “Mobile Homes” has a connection to the Manufactured Housing Institute (MHI). HBO’s Last Week Tonight with John Oliver was viewed by millions on television, and viewed by over 8 million more on the main YouTube video that they posted.
But it isn’t just John Oliver that has slammed, albeit obliquely, MHI by taking a hard hit at their key members. Several mainstream news outlets, such as the Seattle Times, PBS, NPR, The Nation, OZY Media and others have too. In each case, a prominent MHI member is in the mix.
As that realization dawns on more people, how good is it for a company with a better reputation – say UMH – to be associated with companies that are slammed time and again by the mainstream media, such as Frank Rolfe, Clayton Homes, Havenpark Capital, or other MHI members?
As more in the mainstream realize that Warren Buffett’s dollars have flowed to MHAction, via so-called dark money channels, and then in turn cast dispersions on our industry in general, and MHI members specifically, how does that help UMH, or for that matter, other MHI members?
Read the related reports to learn more.
Stay tuned for more of what is ‘behind the curtains’ as well as what is obvious and in your face reports. It is all here, at the runaway largest and most-read source for authentic manufactured home “Industry News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing.
For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.
This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
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