MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.
We begin with these stories:
Buffets’s advice to youth applies to MH Industry
Warren Buffett, owner of Clayton Homes, was on hand at an Iowa Dairy Queen to introduce the new Thin Mint Blizzard and gave a group of Girl Scouts some life advice. Most important: avoid credit cards. Buffett also suggested the youngsters do research before they invest, adding that he had read every book on investing in the Omaha Public Library by age 11. Finally, he said the most important attribute of Berkshire-Hathaway employees is having passion for what they do.
Factory-Built Housing in the News
Molding Minds in Modular Classrooms
From Canada, BIV Business Today reports that an Aldergrove company has won a $28.5-million contract under the Ministry of Education’s full-day kindergarten program to design and build 133 modular classrooms for 101 schools across British Columbia.
Shelter Industries will support 180 jobs while building the modular classrooms at its manufacturing operations in Aldergrove and the Okanagan, the province announced in a release. The company, which has been building modular buildings for 25 years, will begin construction in the coming months and have them ready for September 2011, when the province’s full-day kindergarten program begins its second year. The classrooms are part of a $144.5-million government plan that includes the creation of 122 classrooms through school additions and renovations, a new school in Langley and $10 million to furnish and equip classrooms to support full-day kindergarten.
Manufactured Homes in the News
New Hurdles for Manufactured Homes
From Mississippi the Clarion Ledger reports that Ross Barnett Reservoir-area residents worry about too much commercial growth and also want to put restrictions on manufactured homes there. The new zoning maps will convert about 40,000 acres from agricultural to residential, which requires manufactured homes to get a conditional use permit before being permitted. Jennifer Hall, executive director of the Mississippi Manufactured Housing Association addressed these hurdles by telling supervisors that they are singling out manufactured homes with the proposed zoning plans.
“More Manufactured Homes in the News…”
But first, this podcast of News at Noon is sponsored in part by:
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Now, back to our stories.
Manufactured Homes Permitted and Encouraged
From Colorado, The Pikes Peak Courier reports that Woodland Park City Attorney Erin Smith has determined that the city doesn’t need to change its zoning regulations to accommodate manufactured housing. According to the report, the question came up when Eric Smith, new owner of the community near Woodland Station, asked about expanding it to include manufactured housing. City Planning Director Sally Riley said the homes are actually permitted and encouraged in all areas of the city that are zoned for single family units, but need a conditional use permit in mobile home facilities.
Industry Loss Is Another’s Gain
Kansas Public Radio reports that Rooks County in northwest Kansas is the new owner of a plant where manufactured housing once was made. The Hays Daily News reported that county commissioners have assumed ownership of the four-building, 143,440-square-foot facility. The parent organization for Schult Home had announced in January 2008 that it was closing the plant, which employed about 150 workers. The commissioners plan to fill the vacant facility with other businesses and jobs.
In Business and Market News…
Lumber Company Nets 18.2 Percent from MH Segment
Universal Forest Products, a company that engineers, manufactures, treats and distributes lumber products for the do-it-yourself (DIY), manufactured housing, industrial and site-built construction markets, announced third-quarter 2010 net sales of $480.6 million, compared to net sales of $457.8 million for the same period of 2009. Net earnings for the third quarter of 2010 were $2.6 million, or $0.13 per diluted share, compared to net earnings of $10.1 million, or $0.51 per diluted share, for the same period last year.
Income from Manufactured housing was at $63.4 million, an increase of 18.2 percent over 2009. Unit sales in the manufactured housing market increased by 12 percent primarily due to operations it recently acquired, which reflect the Company’s strategy to expand its product offering to these customers and expand its distribution business, in which it offers everything from adhesives to plumbing supplies. “This was the most challenging lumber market I’ve seen in my 36 years with the company, and I’m proud of the way our people managed through it,” said CEO Michael B. Glenn. “Frankly, this type of market has the potential to wipe out an entire year’s profits for most companies that operate in our industries. The company distributes its products through home-center retailers, retail- and contractor-oriented regional lumberyards, and to builders and modular-home contractors.
Deer Valley Move Aims to Increase Shareholder Value
Deer Valley Corporation announced Friday that it has repurchased 72.6 percent of the company’s outstanding warrants as of June 30, 2010. The warrants were offered to the company by its majority owner in the interest of facilitating the company’s stated efforts to increase shareholder value through the reduction of the number outstanding securities. The purchase announced herein results in the total elimination of three series of outstanding warrants and a significant reduction in the number of other warrants that remain outstanding. The warrants being acquired were valued at $245,746 on the company’s balance sheet for the quarter ending, June 30.
Stocks Lower Friday
Most manufactured housing stocks closed lower Friday with Palm Harbor Homes, Skyline Corp and Drew Industries taking the most off of share prices. The manufactured housing composite value was off 1.4 percent. The Dow ended the week down 32 points.
“On behalf of Production and IT Manager Bob Stovall, Editor L.A. ‘Tony’ Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. G’day!”