Late Monday, Seattle stayed in the national headlines, as it passed a modified version of their head tax on larger businesses, in order to pay for their growing affordable housing crisis. That will be our focus report this evening.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.
Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves 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.
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Selected headlines and bullets from CNN Money:
- 10-year Treasury yield spikes, spooking the stock market
- Party City debuts line of Ramadan decorations
- Silicon Valley wants to disrupt banking
- MARKETS NOW
- Home Depot’s former CEO on trade tensions and the economy
- Tom Wolfe dies at 88
- Air France-KLM hopes 3 CEOs can end its crisis
- Uber will no longer force victims of sexual assault into arbitration
- Lyft joins Uber to end forced arbitration for sexual assault victims
- Take a flying car to work
- Seattle passes a smaller version of the ‘Amazon tax’
- For Amazon HQ2 hopefuls, Seattle serves as a cautionary tale
- Seattle’s tax to fight homelessness may hit Amazon hardest
- Germany’s growth slump sends early warning on trade war
- Facebook took down 21 million pieces of adult nudity in three months
- New ESPN president makes his introduction to advertisers at upfronts
- China wants its top tech firms to come home
- Tesla SUV earns a Guinness World Record for towing massive airplane
- Wilbur Ross: US is exploring other remedies for ZTE ban
- China tariffs are a bad idea, companies warn Trump
- GE, Best Buy and Roku: Who’s weighing in on Trump’s China tariffs this week
- 3 big things happening with US-China trade this week
- Amazon is bringing its cashier-free stores to more cities
- Royal wedding: How much will it all cost?
- Will the Royal Wedding boost the UK economy?
- NYT: More than 2 dozen people killed by carbon monoxide after leaving on their keyless cars
- Disney union can now represent the park’s Lyft drivers
- Trump tells his leaky staffers they are ‘traitors and cowards’
- Starting salary for the class of 2018: $50,390
Selected headlines and bullets from Fox Business:
- CBS likely takeover play as Moonves eyes war with Redstone
- WTO finds Airbus got illegal subsidies
- Dow snaps eight-day advance as Treasury yields rise
- Tepper said to buy NFL Panthers for record $2.2B
- Kellogg’s exits Venezuela over social ‘deterioration’
- US Homeland Security unveils new cyber security strategy amid threats
- Amazon HQ2: Arlington, Texas, reveals pitch after striking out[overlay type]ECOMMERCE
- Amazon HQ2: Arlington, Texas, reveals pitch after striking out
- FanDuel discussing sale to Irish sportsbook Paddy Power: report
- Just graduated? Here are the best and worst places to launch a career
- Not just Amazon: Seattle ‘head tax’ to hit these major companies
- Alaska Airlines to close New York pilot base
- Elon Musk blasts Tesla crash coverage, as NHTSA backs models
- Seattle’s ‘Amazon tax’ to hurt wages, hiring, experts warn
- Indiana small city offers big incentives to lure young, educated workers
Today’s markets and stocks, at the closing bell…
Manufactured Housing Composite Value (MHCV)
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
“A new tax approved by the Seattle City Council late Monday will have a negative impact on businesses in the area, experts say, which could mean a reduction in both hiring and wages,” reports Fox Business.
“The private sector will respond in a negative way to the new head tax, in this case with less hiring and modestly reduced wages,” said Chris Edwards, director of tax policy studies at the Cato Institute.
As the Daily Business News previously reported, the controversial tax has split unions and others in the “progressive” city. Part of the oddity of this scenario is that no one – including the supporters of the new tax plan – claim that this levy will actually solve the growing problems of homelessness or the shortage of affordable housing.
Two of the city’s biggest employers – e-commerce giant Amazon and coffee retailer Starbucks – have come out in opposition to the measure.
“The [Seattle] tax comes out to 14 cents per employee per hour, or $275 per employee, per year, on for-profit companies that net at least $20 million annually,” said Fox Business. “It was unanimously approved by the city council’s board members.”
The story also highlights the negative impact of tax hikes, and by implication, the positive impact of tax cuts.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
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.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.