Stocks have plummeted in the past two days. One could point to various data points that will be reflected in our left-right headline summary for some of the reasons. There are also clear concerns about Senator Bernie Sanders suspending his campaign due to a reported heart condition, which is likely to spark even more interest in Senator Elizabeth Warren among “Bernie” backers. Warren, as we’ve previously reported, is someone that Wall Street reportedly ‘fears.’ But tonight, our focus is on something that may seem insignificant. Or is it? Let’s look at the Manufactured Housing Institute’s (MHI) rapid reply to our request for information, which will be our featured item for this evening.
Regular readers please note there are several tweaks and changes in some 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.
Headlines from left-of-center CNN Business.
- Dow plunges 450 points
- Markets are flashing red as investors worry about the health of the economy
- LATEST UPDATES Stocks finish at 5-week low
- America’s factories are getting crushed by Trump’s trade war, not the Fed
- Trump blames Fed for poor manufacturing report
- US will move ahead with Europe tariffs over Airbus
- Expectations are rising for a Fed rate cut in October
- Microsoft teases new foldable phone and unveils AirPods rival
- This kite could harness more of the world’s wind energy
- The teens of TikTok are taking on US school shootings
- Opinion: Many Americans are about to feel the burden of Trump’s tariffs
- Melinda Gates pledges $1 billion to achieving gender equality
- The CEO behind Fortnite makes it to the Forbes 400 list
- Tim Cook defends DACA, saying Apple employs 443 Dreamers from 25 countries
- We spent a day shadowing Google interns. Here’s what it’s really like
- NEW YORK, NY – NOVEMBER 01: Nancy Dubuc, CEO of Vice Media, speaks at the New York Times DealBook conference on November 1, 2018 in New York City. (Photo by Stephanie Keith/Getty Images)
- Vice Media acquires Refinery29
- PAPER OR PLASTIC? NEITHER
- They’re making paper out of stone — and saving lots of trees
- Burger King ditches plastic toys in UK kids’ meals
- Amazon and Walmart are now racing to reduce plastic pollution in India
- McDonald’s new paper straws aren’t recyclable — but its axed plastic ones were
- Amazon’s incredible, vanishing cardboard box
- Nanny shares are a solution to the child care dilemma. Here’s how they work
- When child care costs more than a mortgage
- Why wealthy parents who bankroll their adult children are hurting them
- We asked 35 executives how they balance family and work. Here’s what they said
- What it takes to be a $200,000-a-year nanny
Headlines from right-of-center Fox Business.
- Delta: US airlines facing ‘serious harm’ – Delta said that new U.S. tariffs placed on Airbus planes “will inflict serious harm on U.S. airlines” and impact its profits.
- Stocks plunge amid volatile session, Dow closes nearly 500 points lower
- Trump: Impeachment talk hurting Americans’ retirement plans, stock markets
- Several people dead after horrific ‘Flying Fortress’ crash
- Home Depot co-founder on Sanders: ‘What the hell has he done for the little people?’
- Varney: Bloodbath in Hong Kong will make it hard to close China trade deal
- California utility company makes chilling admission about wildfires
- When you should get ‘very concerned’ about a recession, economist explains
- NRA declares victory against San Francisco
- Trump to roll out Medicare plan as Dems clash over health care
- Cops make gruesome discovery hours after tech exec was abducted
- You’ve never seen a court like this: Go inside NBA star’s massive mansion
- Artificial intelligence is making meal out of restaurant industry
- Why NYC housing market is nearly in ‘free fall’
- ‘It could have killed me’: Mets fan sues team after suffering grisly injury
- WNBA commissioner has her doubts about paying college athletes
- Nike CEO Mark Parker should ‘accept that mistakes were made,’ anti-doping officials say
- IBM’s Chief Privacy Officer: This is what America needs
- California law expedites L.A. homeless shelter development
- 5 things you should know about Los Angeles Clippers owner Steve Ballmer
- Here’s what dragged down Ford’s summer sales
- Autopsy bombshell after UBS banker’s deadly luxe Caribbean hotel fight
- Democrats pressing IRS to take this action against NRA
- ‘I lost my mother’: Prince Harry fears history repeating itself as press hounds Meghan Markle
- Doctor sentenced for raking in $700K by illegally prescribing opioids
- Trump: Impeachment talk hurting Americans’ retirement plans, stock markets
- WATCH: Inside the internet’s wild transformation
- Cam Newton’s vegan diet blamed for struggles: Can the Panthers force a change?
- Forget about lucky number 7: More than 1,000 people won the lottery with this digit
- Blackstone’s Stephen Schwarzman shares his rules for work and life
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Tonight’s Business/Market/Political Impact Spotlight –
On one level, this is somewhat amusing, as the headline at the top reflects (LOL). While it is a modest item on the one hand, it is reflective of several more significant issues that are troubling.
First the facts, then the analysis and takeaways.
Having waited a week to see if MHI would update their own website with their own new executive committee, which they had not as of early afternoon. Here is what the prior MHI Executive Committee composition looked like.
So, MHProNews’ publisher decided to send them a message this afternoon. It read as follows.
Within hours, that page was updated.
Here is the before, above and the after, below.
But there is still what appears to be a glitch on that page, which MHProNews brought to their attention late this afternoon.
MHI for some time used the ‘clout’ claim posted above. The collage below was one of several MHProNews fact-checks that seems to have resulted in their claim of ‘clout’ to have faded. Wonder why?
MHProNews, as well as the more modest sized rival trade group, the Manufactured Housing Association for Regulatory Reform (MHARR) hammered away at MHI for their lack of effort on promoting the enhanced preemption clause of the Manufactured Housing Improvement Act of 2000. The reason that matters was explained by Mark Weiss, J.D., President and CEO of MHARR in the quote that follows.
Rephrased, if that enhanced preemption provision of existing federal law were being fully implemented, manufactured housing could rapidly open up markets for sales that today retailers and developers are de facto being improperly bared from selling homes. That may bear repeating. Sales could rapidly rise if MHI used their claimed clout to cause HUD to enforce the enhanced preemption provision of federal law. So what possible excuse could there be for not doing so?
Put differently, is more sales the short term goal, or is their short term goal more consolidation? How does that impact stockholders that may not want a long-time horizon?
That said, MHProNews floated the notion that MHI would not necessarily seriously promote what they said they were calling for – which so far, has proven accurate. Indeed, MHI voted against a proposal during a MHCC conference call that would have put them on record as seriously, or not, supporting enhanced preemption. More on that is linked in the text/image box above, but with added details in related reports further below.
On items smaller – like accuracy of information with others or on their own website – or more serious issues that impact manufactured home retailers and communities, MHI for years has behaved in controversial ways. That will be part of an upcoming special, which may be published as soon as tomorrow. Stay tuned.
Why does this matter to industry investors?
Because several publicly traded companies arguably should do or know by now how MHI fails to do what their own stated claims are on their website. That’s not clearly disclosed as part of Investor Relations packages.
There are several reasons that MHProNews and our sister site believe that Clayton Homes, which with their fellow Berkshire Hathaway brands arguably dominate MHI, and MHI itself should be the focus of new federal probes. See reports linked here, here, here, and here, among others.
It’s a tangled web. But ICYMI, a 600-word executive summary heavily laced with cross links is found at the report linked above. More to know, below, in the related reports. If it were not so serious, it would arguably be a bit like Keystone Kops.
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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).
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Disclosure. MHProNews holds no positions in the stocks in this report.
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