MHMSM.com presents News at Noon with Erin Patla
Coming up, Excel Homes and Maryland Community Builders Foundation Join ABC’s ‘Extreme Makeover: Home Edition’
But first…these stories.
The National Modular Building Council Reports shipments rise in the first quarter of 2010.
The National Modular Building Council, or NMHC’s Quarterly Modular Housing Report© for the 1st Quarter of 2010 is now available. The report is date June 2010.
The National Modular Housing Council’s actual shipments report indicates that 2,557 new modular homes were shipped in the first quarter of 2010, up 5.3 percent from the same quarter in 2009.
Compared with the same period last year, state shipment results for first quarter 2010 showed increases for 10 states, reductions in 6 states, and 13 states with no significant change (which is defined as less than ±5 shipments).
The full report is available on the MHMSM.com website.
Palm Harbor Homes, Inc. Adopts
Shareholder Rights Plan
DALLAS–(BUSINESS WIRE)–Palm Harbor Homes, Inc. (NASDAQ: PHHM – News) today announced that its Board of Directors has adopted a shareholder rights plan (“rights plan”) to preserve the value of significant tax assets associated with the Company’s tax net operating loss carryforwards under Section 382 of the Internal Revenue Code.
Under the rights plan, one right will be distributed for each share of Palm Harbor Homes, Inc. common stock outstanding as of the close of business on June 22, 2010. Pursuant to the rights plan, if any person or group (subject to certain exceptions specified in the rights plan) acquires 4.99 percent or more of the outstanding shares of common stock of Palm Harbor Homes, Inc., without the approval of the Board of Directors, a significant dilution in the voting and economic ownership of such person or group would occur. The rights plan may be terminated by the Board of Directors at any time prior to the rights being triggered.
The rights plan will continue in effect until June 22, 2013, unless earlier terminated or the rights are redeemed by the Board of Directors or certain other events occur. The Company plans to submit the rights plan for ratification by its shareholders at the Annual Meeting of Shareholders to be held September 22, 2010.
Additional information regarding the rights plan will be filed by Palm Harbor Homes, Inc. in a Current Report on Form 8-K with the Securities and Exchange Commission. Shareholders of record of Palm Harbor Homes, Inc. as of June 22, 2010, will be mailed a summary of the rights plan.
Palm Harbor Homes is one of the nation’s leading manufacturers and marketers of factory-built homes. The Company markets nationwide through vertically integrated operations, encompassing manufacturing, marketing, financing and insurance.
“Up next, Excel Homes and Maryland Community Builders Foundation Join ABC’s ‘Extreme Makeover: Home Edition’ ”
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and “Now, back to the news…”
Excel Homes and Maryland Community
Builders Foundation Join ABC’s ‘Extreme
Makeover: Home Edition’
Excel Homes, a leading manufacturer of custom modular houses, and the Maryland Community Builders’ Foundation, the charitable arm of the Home Builders Association of Maryland, announced today that they will join ABC’s hit series “Extreme Makeover: Home Edition” for an upcoming project in the Baltimore area in July. Local builder Artisan Fine Homes will help complete the build.
The prime time inspirational home makeover show gives deserving individuals with a compelling story a complete home renovation. While the name of the recipients will not be released until July 9, Excel Homes and the Maryland Community Builders Foundation will oversee and implement the intense one-week build from July 10 through July 16, according to production sources. Last season’s finale also featured a modular home, a design the producers felt worked well with the show’s fast-paced format.
According to the Foundation’s chairman, Chris Rachuba, and its president, Kevin Carney, producers chose Excel for its innovation, commitment to quality and the ability to fulfill the project requirements of construction speed, energy efficiency and green building practices. The Foundation was selected for its extensive history and experience with shelter-related charitable activities.
“While the task of building a new home in a week could be a bit intimidating, this show will demonstrate the time-saving benefits of modular construction, and will certainly change people’s perceptions of ‘modular,'” said Excel CEO Steve Scheinkman. “Despite the recent challenges in the housing market, the Baltimore area has been good to us, and we look forward to working with the Foundation, Artisan, and the people of Baltimore as we ‘excel together’ on this significant opportunity to give back to the community.”
The majority of construction will take place at Excel’s manufacturing plant in Avis, Pennsylvania; with final assembly slated for completion at the show job site. The home will combine traditional Baltimore elements with modern design. Excel recently announced the opening of its Avis facility and will hire more than 100 employees to support its manufacturing operations. The “Extreme Makeover” modules will be some of the first produced at that location.
“‘Extreme Makeover: Home Edition’ will really showcase the Foundation in action,” said Rachuba. “We are honored that we were selected to participate in the project, and that everyone involved will be able to share in this worthy cause. Our mission has always been to better the lives of the less fortunate in our area through shelter-based initiatives, and this show will demonstrate that on a large scale.”
Since all materials and labor must be donated, both Excel Homes and the Maryland Community Builders Foundation are requesting skilled and unskilled volunteers from the community to provide their time, support and resources to help ensure the success of the project. Interested individuals or companies considering donating materials can find more information on how to volunteer their time and resources at http://baltimoreextrememakeover.com/ or http://excelhomes.com/baltimoreextreme.
“On behalf of Production and IT Manager Bob Stovall, Editor Tony Kovach and the entire MHMSM.com writing and support team, this is Erin Patla, G’day!”