Newsmax and other media outlets are reporting this evening that there are several retailers forging an alliance to take on Amazon – a company that Berkshire Hathaway reportedly has about a billion dollar stake in, and is involved in factory-built housing and numerous other businesses, and Google. On a day when the markets rose, and another record fell on the S&P, that antitrust move – and what it might imply for manufactured housing professionals – will be our featured report for this evening.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets. Headlines – at home and abroad – often move the markets. So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©
Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.
Want to know more about the left-right media divide from third party research? ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.
- S&P 500 could be nearly 5% higher
- Stocks are near record highs, but experts say they’d be higher if it wasn’t for the trade war
- S&P 500 sets another record high
- Tesla sets a record for sales, and its stock jumps 7%
- Christine Lagarde tapped as next European Central Bank chief
- US proposes new tariffs on EU goods worth $4 billion
- Arizona governor says he wants to yank Nike’s tax breaks over canceled shoe
- Nike sneaker featuring Betsy Ross flag canceled after backlash
- The world’s biggest brewer is planning the year’s biggest IPO
- Famed photographer Annie Leibovitz takes portraits of five women running for president
- ADHD isn’t a career killer. Just ask these executives
- ‘Spider-Man’ tries to save the slumping summer box office
- Shopping Content by CNN Underscored
- Here’s how to preorder the new Xbox Elite 2 Wireless Controller
- American is first US airline to drop a route because of 737 Max grounding
- Saudi oil minister: Iran is threatening global energy supply
- After a job interview, should you tell the candidate what they did wrong?
- Burger King will sell upside-down Whoppers in 1980s wrappers
- Netflix is releasing a ‘Stranger Things’ video game
- Coca-Cola is bringing back New Coke in honor of ‘Stranger Things’
- Iconic 80s computer to return with fully-functional keyboard
- Pizza Hut brings back its retro logo
- OPEC extends oil production cuts until March 2020
- Gas taxes are rising because Americans are driving more fuel-efficient cars
- America’s liquefied natural gas boom has a climate change problem
- Iran oil minister: ‘OPEC might die’
- America’s oil boom will break more records this year
- S&P 500 sets second record high in as many days
- StockX pulls Nike ‘Betsy Ross flag’ sneakers from resale site, cites company values
- Nike pulls ‘Betsy Ross flag’ sneaker on fears it would offend customers
- Christine Lagarde: 5 things to know about the nominee for ECB president
- Fiat Chrysler has its best June retail sales in 14 years thanks to Ram pickups
- Anderson Cooper’s large inheritance: A look at the tax obligations
- Adidas U.K. tweets racist, offensive messages after social media promotion goes wrong
- These are the highest paid White House employees
- Amazon customers can buy a tiny home for less than $20,000 along with free shipping
- MLB legend: This is how to turn a losing team into World Series champs
- Retirement advice: 7 ways to make your money last
- NBA star Kevin Durant sells Malibu home for $12.15M: report
- California will require employers to offer a retirement savings plan for workers
- Discontinued Nike ‘Betsy Ross Flag’ sneakers prices soar
- Walmart heir Jim Walton donates $1.2B of his fortune, report says
- New York real estate weakness intensifies amid tax changes, hikes
- USMCA will unleash American innovation: Dems must not stand in the way
- Democrats have been ‘hijacked by unelectable socialists’: Varney
- Trump-Xi trade talks at G20: America’s biggest weakness is no big secret
Today’s markets and stocks snapshot, at the closing bell…
Today’s MH Market Spotlight Report –
“A leading U.S. retail group, whose members include Walmart Inc., is eager to aid antitrust enforcers that are poised to investigate whether Amazon.com Inc. and Alphabet Inc.’s Google are harming competition,” reports right-of-center Newsmax today.
The Retail Industry Leaders Association (RILA) also represents Target Corp., Best Buy and others. RILA said it’s prepared to present their concerns to the Justice Department and the Federal Trade Commission. The two federal agencies have antitrust oversight of Silicon Valley and other companies when it comes to antitrust regulations.
“It’s pretty clear to us that the FTC and different relevant regulators should be taking a much closer look at these platform companies,” said Nicholas Ahrens, vice president of innovation for RILA, in an interview. “We are here to help.”
RILA joins a growing number of companies, including Oracle Corp., Yelp Inc., Tripadvisor, Inc. and News Corp. – parent to Fox News – that have raised concerns about competitive harm from dominant technology platforms.
The retailers’ group has already laid out its views on competition issues to the House Judiciary’s antitrust subcommittee, which is also investigating the technology industry, Ahrens said.
The trade group wrote a letter to the FTC dated Sunday, arguing that the tech platforms create an “information bottleneck” that has the power to skew markets and circumvent the traditional power of price competition.
That same bottleneck arguably impacts other industries, including manufactured housing. As was noted at the top, it is prudent to observe the cross ties between Berkshire Hathaway and several tech giants.
It should be “quite concerning to the commission that Amazon and Google control the majority of all internet product search, and can very easily affect whether and how price and product information actually reaches consumers,” the trade group said in a letter responding to a series of hearings the agency held on competition policy.
Representatives for Amazon and Google reportedly didn’t immediately respond to requests for comment.
The FTC has claimed oversight of probes of Facebook Inc. and Amazon, while the Justice Department is set to scrutinize Google and Apple Inc., left-of-center Bloomberg has reported. Separately, the House Judiciary’s antitrust subcommittee kicked off a broad antitrust investigation into the technology industry last month with a hearing on how Google and Facebook have affected the news industry.
Yesterday on Tucker Carlson Tonight, President Donald J. Trump spoke about antitrust topics, naming the companies also cited in this report. For more on that, see the related reports, below. Further, several 2020 Democratic hopefuls have raised the issue. See that in the second linked report below.
It should be noted that MHProNews is by far the most prominent trade publication that is tracking monopolistic and antitrust concerns as it may relate to manufactured housing, along with our sister publication. While a battle with a firm like the FAANGs Berkshire Hathaway, or Microsoft would no doubt be protracted, it would not be a surprise if those stocks dropped once a case is formally opened.
MHProNews has no position in the stocks mentioned.
Yahoo Finance Closing Ticker for MHProNews…
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).
LCI Industries, Patrick, UFPI and LP all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
Your link to industry praise for our coverage, is found here.
For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”
“We Provide, You Decide.” © ## (News, analysis and commentary.)
(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)
Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.