PREV
NEXT
Slider

Skyline Champion’s Sarah Janowicz On Record – SKY’s Biz Practices & Manufactured Housing Institute Support; “Defies Reason and Common Sense”

SkylineChampionLogoSarahJanowiczPhotoOnRecordSKYBizPracticesManufacturedHousingInstituteLogoSupportDefiesReasonCommonSenseMHProNewsLogo

Sarah Janowicz is the Director of Investor Relations and External Reporting Skyline Champion Corporation. Janowicz recently made a series of on-the-record responses to MHProNews about information from the publicly traded firm’s most recent May 21 Q4 2020 Earnings Call. As the transcript on those questions and answers (Q&A) will make clear, Janowicz first consulted with others in their legal and corporate leadership before providing the replies that are exclusively published below.

Hi Tony – We appreciate the opportunity to provide responses to clarify questions relating to our earnings call,” wrote Janowicz. That was part of a formal reply to a longer series of questions and answers via email on Thursday June 11, 2020 at 11:36 AM from Sarah Janowicz via her corporate email address.

 

Background Preface. The typical ‘connected’ person with email, social media, and news is bombarded with literally thousands of messages every day. These range from subtle to ‘in your face’ in their boldness. There are so many messages that the vast majority are ignored or downplayed, even if they might be important or valuable to individuals exposed to such messaging.

As a result of that modern phenomenon, even “experts” in their field can miss, ignore, downplay, or otherwise not realize the importance of a specific message, article, or other communique.

Therefore, after the Q&A with Skyline Champion’s leadership via Ms. Janowicz will be an MHProNews analysis and commentary. That fact-check and analysis will aid the understanding and broader importance of the stunning formal replies from the publicly traded firm’s senior leadership.

 

With that brief backdrop, let’s pivot to the actual Q&A which will be followed by that analysis and commentary. Note that the Q&A’s occurred over the course of about a week, but they are all being organized according to the precise chronological order they occurred. Each detail is significant. Email addresses or edited out or partially edited out, but beyond such light edits that include some signature block information and logos, the Q&As are an accurate reflection of the entire thread with Skyline Champion and MHProNews.

Note that in framing the Q&A that follows, Janowicz’s LinkedIn profile makes it clear that she has several years of experience in manufactured housing.

SarahJanowiczPhotoSkylineChampionLogoInvestorRelationsLinkedInLogoJanowiczBioProfessionalProfileMHProNewsLogo

MHProNews Exclusive Q&A with Sarah Janowicz of Skyline Champion (SKY)

from:    L. A. “Tony” Kovach @ MHProNews
to:        investor—-@championhomes.com [i.e. Skyline Champion
date:    Jun 2, 2020, 3:47 PM
subject: Media outreach

Skyline Champion IR,

We’re the manufactured home industry’s most-read media, as several of your team members doubtlessly know. That said, we have a question about your most recent investor relations 2020 transcript statement.

Per that transcript, among your corporate plans are “strategic initiatives of streamlining our products, digital offerings to our customers and adding more value and sustainability through turnkey services and the elimination of waste.” To what extent does this reflect a move toward increased online sales that may limit or remove human sales-people from the sales process?

Please email your response for our mutual accuracy in handling. Thank you.

Tony

L. A. “Tony” Kovach
Managing Member
LifeStyle Factory Homes, LLC
DBAs:
MHLivingNews.comMHProNews.comLATonyKovach.com 

 

from:    Sarah Janowicz @ Skyline Champion Corporation
to:        “L. A. Tony K”
date:    Jun 5, 2020, 4:01 PM
subject: RE: Media outreach

Hi Tony – The corporate plans referenced in Skyline Champions’ Q4 earnings call included a discussion of various strategic initiatives. The specific section of the transcript highlighted below touches on the company’s plans to increase the availability and functionality of digital selling tools to configure and price its products more efficiently and quickly than it has in the past. The intent is to enhance the tools available to the sales team so they are better able to serve their customers. I hope this helps answer your question. Feel free to reach out to me directly. My contact information is below for reference.

Sarah Janowicz
Director of Investor Relations and External Reporting
Skyline Champion Corporation
755 West Big Beaver Rd., Suite 1000
Troy, MI 48084

 

from:    L. A. “Tony” Kovach @ MHProNews
to:        Sarah Janowicz @ Skyline Champion
date:    Jun 5, 2020, 4:05 PM
subject: RE: Media outreach

Sarah,

Thanks so much for your reply, which I may have a follow up question(s) on. I’m up against a deadline, but will likely touch base on Monday. You might see an email from me from the weekend, or the message could come on 6.8.2020.

I presume your comment sent is on the record? Please advise on that point.

Thank you for the insights.

Tony

 

from:    Sarah Janowicz @ Skyline Champion
to:        L. A. “Tony” Kovach @ MHProNews
date:    Jun 5, 2020, 4:10 PM
subject: RE: Media outreach

Hi Tony – I figured I would reach out to provide a little more context and see if you wanted something on the record. If so, I’ll circulate the commentary I provided to our legal and management team to ensure they are okay with the statements being on the record. In terms of next steps, should I wait to see if you have any follow up questions that may require a response before sending this off to the larger group for review?

 

from:    L. A. “Tony” Kovach @ Skyline Champion
to:        Sarah Janowicz @ MHProNews
date:    Jun 5, 2020, 4:19 PM
subject: Re: Media outreach

Sarah, fair point on waiting for legal review. It is unlikely I will use your comment until next week. I’ll try to get my related questions together as previously noted, and then email them to you. You and your team are welcomed to reply as you deem appropriate at that time. Thanks for your prompt follow up. More, later. Take care.

tk

— 

 

from:    L. A. “Tony” Kovach @ MHProNews
to:        Sarah Janowicz @ Skyline Champion
date:    Jun 8, 2020, 11:20 AM
subject: Re: Media outreach

Sarah,
As a follow up to our emails last week, here are the topics that MHProNews believes merit your firm’s attention, review with legal/management, and reply.

We are fine with your original reply, but in case you want to revise it in light of other management input, this was the original MHProNews query:

1)   “strategic initiatives of streamlining our products, digital offerings to our customers and adding more value and sustainability through turnkey services and the elimination of waste.” To what extent does this reflect a move toward increased online sales that may limit or remove human sales-people from the sales process?

 

2)   I’m puzzled by the significant variance between national data on the decline in national shipments vs. what Skyline Champion reported during their Q4 Earnings Call on May 21, 2020 as reported by Thomson StreetEvents. Perhaps you can clear it up? Specifically:

a)   The national data HUD collects via IBTS reflects a 17% decrease from the 7,993 new HUD Code homes produced during April 2019 vs. 6,639 manufactured homes in April 2020.

b)   Their data would also reflect about a 20% decrease from the 7,993 new HUD Code homes produced during April 2019.

c)   By contrast, in response to Michael Glaser Dahl at RBC Capital Markets Research Division, Mark Yost, President and CEO replied: “So Mike, in the first 2 weeks of April, we were running at 40% of last year’s levels. In the latter part of April, second half of April, we were at 60% of last year’s levels.” That implies a 60% drop year-over-year during early April, and a 40% drop in late April, correct?

d)   Recognizing that the answer may be due to a variety of possible factors, we’re just looking for clarity on why the significance difference in the drop for all of HUD Code manufactured housing vs. what Skyline Champion reported on 5.21.2020?

 

3)   Skyline Champion President Yost said during that same call these keen points. Per the earnings call transcript, “We are seeing increased demand for people wanting to move from urban settings into rural environments, including the outskirts of the suburbs. This can be a very positive secular trend for us given the fact that manufactured housing has only 3% share in urban areas, but 15% of share in rural areas. In addition, the work-at-home movement will increase housing demand for homes that have larger square footage at an affordable price point and continued demand for alternative dwelling units as a place of sanctuary to use as your home office, workout facility, keep your parents safe or as an escape in your own backyard.”

a)   Recognizing the validity of those points, it also begs questions obliquely raised.

b)   Then Manufactured Housing Institute EVP Lesli Gooch, who is now MHI’s CEO, stressed in a letter to HUD their stated concerns about a “growing trend of municipalities using zoning ordinances to mandate manufactured housing construction standards beyond the HUD Code and as a result effectively “zoning out” manufactured housing.” In that letter to Edward L. Golding, then HUD’s Principal Deputy Assistant Secretary Office of Housing, and Helen R. Kanovsky HUD’s General Counsel, Gooch said “We [MHI] believe that HUD has the authority to move beyond a case-by-case approach to this challenge.” She cited the language from the Manufactured Housing Improvement Act of 2000. Specifically, “Federal preemption….shall be broadly and liberally construed to ensure that disparate State or local requirements or standards do not affect the uniformity and comprehensiveness of the standards….” See the document dated May 26, 2016 linked here.

c)   More recently, Gooch said on July 18, 2019 that “HUD Must Implement and Enforce its Enhanced Preemption Authority.” The screen capture addresses the point Yost’s comments obliquely raised. It should be self-evident that if enhanced preemption was enforced by HUD, it would be a boost to your firm and virtually all others that produced HUD Code manufactured housing. That in turn would be good for shareholders, correct? A copy of Gooch’s full MHI letter to HUD Secretary Ben Carson is linked here.

HUDMustImplementManufacturedHousingInstituteMHIStatementFromMHILetter-ManufacturedHomeProNews

d)   Those facts beg the question, does Skyline Champion favor a robust enforcement of Enhanced Preemption as a means of promoting the sales of more HUD Code manufactured homes?

 

4)   Last for today. That same 5.21.2020 investor call mentions that the GSEs and financing on HUD Code manufactured homes. How many so called “new class of manufactured homes” that MHI has branded “CrossModTM” homes, that Fannie calls “MH Advantage®” and Freddie refers to as “CHOICEHome®”.” How many such homes has Skyline Champion sold total since the program was created? In the light of a widely reported lack of traction for this program, doesn’t it make more sense to press the GSEs for lending on ALL HUD Code manufactured homes, instead of just select housing that have not been widely accepted in the marketplace?

Sarah, if you and your colleagues could reply by email to each question after each one asked above for our mutual accuracy in handling and communications. Thank you, and we look forward to your replies.

Regards,

Tony

 

— [Notice: in the reply below, Janowicz’s reply is being turned bold to emphasize her reply, and in purple text, which is the color they chose to use. The bold is not in the original, but is used to clearly draw attention to their statement. That noted, the text of her formal replies remains as in the original. Rephrased, there is no change to the text or meaning of their reply. ] —

 

from:    Sarah Janowicz @ Skyline Champion
to:        L. A. “Tony” Kovach @ MHProNews
date:    Jun 10, 2020, 12:45 PM
subject: RE: Media outreach

Hi Tony – Below are responses to the questions sent earlier in the week (in purple). These responses can be considered on the record. Please let me know if you need any additional information.

Sarah Janowicz

As a follow up to our emails last week, here are the topics that MHProNews believes merit your firm’s attention, review with legal/management, and reply.

We are fine with your original reply, but in case you want to revise it in light of other management input, this was the original MHProNews query:

1) “strategic initiatives of streamlining our products, digital offerings to our customers and adding more value and sustainability through turnkey services and the elimination of waste.” To what extent does this reflect a move toward increased online sales that may limit or remove human sales-people from the sales process? The Company’s digital selling tools are intended to provide potential Skyline Champion buyers information that they now can only obtain by visiting a Company or independent retailer. Since the onset of the pandemic, we’ve seen customers seek out more information online and our objective is to meet that need for information. The home buying process will remain a very personal experience. We value our sales staff and independent retailers and do not expect a greater online presence to impact staffing.  

 

2)   I’m puzzled by the significant variance between national data on the decline in national shipments vs. what Skyline Champion reported during their Q4 Earnings Call on May 21, 2020 as reported by Thomson StreetEvents. Perhaps you can clear it up? Specifically:

  1. a)   The national data HUD collects via IBTS reflects a 17% decrease from the 7,993 new HUD Code homes produced during April 2019 vs. 6,639 manufactured homes in April 2020.
  2. b)   Their data would also reflect about a 20% decrease from the 7,993 new HUD Code homes produced during April 2019.
  3. c)   By contrast, in response to Michael Glaser Dahl at RBC Capital Markets Research Division, Mark Yost, President and CEO replied: “So Mike, in the first 2 weeks of April, we were running at 40% of last year’s levels. In the latter part of April, second half of April, we were at 60% of last year’s levels.” That implies a 60% drop year-over-year during early April, and a 40% drop in late April, correct?
  4. d)   Recognizing that the answer may be due to a variety of possible factors, we’re just looking for clarity on why the significance difference in the drop for all of HUD Code manufactured housing vs. what Skyline Champion reported on 5.21.2020? In the first seven weeks of our fiscal 2021, our production rates did vary significantly from HUD code stats due in large part to the fact that, unlike some of our competitors, some of our larger plants are located in areas that were more heavily impacted by the outbreak of the virus and government orders to shut down.

 

3)   Skyline Champion President Yost said during that same call these keen points. Per the earnings call transcript, “We are seeing increased demand for people wanting to move from urban settings into rural environments, including the outskirts of the suburbs. This can be a very positive secular trend for us given the fact that manufactured housing has only 3% share in urban areas, but 15% of share in rural areas. In addition, the work-at-home movement will increase housing demand for homes that have larger square footage at an affordable price point and continued demand for alternative dwelling units as a place of sanctuary to use as your home office, workout facility, keep your parents safe or as an escape in your own backyard.”

a)   Recognizing the validity of those points, it also begs questions obliquely raised.

b)   Then Manufactured Housing Institute EVP Lesli Gooch, who is now MHI’s CEO, stressed in a letter to HUD their stated concerns about a “growing trend of municipalities using zoning ordinances to mandate manufactured housing construction standards beyond the HUD Code and as a result effectively “zoning out” manufactured housing.” In that letter to Edward L. Golding, then HUD’s Principal Deputy Assistant Secretary Office of Housing, and Helen R. Kanovsky HUD’s General Counsel, Gooch said “We [MHI] believe that HUD has the authority to move beyond a case-by-case approach to this challenge.” She cited the language from the Manufactured Housing Improvement Act of 2000. Specifically, “Federal preemption….shall be broadly and liberally construed to ensure that disparate State or local requirements or standards do not affect the uniformity and comprehensiveness of the standards….” See the document dated May 26, 2016 linked here.

c)   More recently, Gooch said on July 18, 2019 that “HUD Must Implement and Enforce its Enhanced Preemption Authority.” The screen capture addresses the point Yost’s comments obliquely raised. It should be self-evident that if enhanced preemption was enforced by HUD, it would be a boost to your firm and virtually all others that produced HUD Code manufactured housing. That in turn would be good for shareholders, correct? A copy of Gooch’s full MHI letter to HUD Secretary Ben Carson is linked here.

 

HUDMustImplementManufacturedHousingInstituteMHIStatementFromMHILetter-ManufacturedHomeProNews

Any change in the regulations or the enforcement of regulations that reduce restrictions on the placement of HUD Code homes would be positive for the entire manufactured home industry.

d)   Those facts beg the question, does Skyline Champion favor a robust enforcement of Enhanced Preemption as a means of promoting the sales of more HUD Code manufactured homes? Skyline Champion, like many other manufactured home builders, is working with and supports MHI’s efforts.

4)   Last for today. That same 5.21.2020 investor call mentions that the GSEs and financing on HUD Code manufactured homes. How many so called “new class of manufactured homes” that MHI has branded “CrossModTM” homes, that Fannie calls “MH Advantage®” and Freddie refers to as “CHOICEHome®”.” How many such homes has Skyline Champion sold total since the program was created? In the light of a widely reported lack of traction for this program, doesn’t it make more sense to press the GSEs for lending on ALL HUD Code manufactured homes, instead of just select housing that have not been widely accepted in the marketplace? Expanding home buyer access to financing would benefit the entire industry.

 

from: L. A. “Tony” Kovach @ MHProNews
Sent: Wednesday, June 10, 2020 3:46 PM
to:   Sarah Janowicz @ Skyline Champion
Subject: Re: Media outreach

Sarah,
First, thanks again for the replies. Got it on the regional impact and electronic support.

That said, let me pose the following follow up questions on the balance of your comments.

Quoting your reply:

  • “Any change in the regulations or the enforcement of regulations that reduce restrictions on the placement of HUD Code homes would be positive for the entire manufactured home industry.”
  • “Skyline Champion, like many other manufactured home builders, is working with and supports MHI’s efforts.”

As the links and references provided in the MHProNews questions reflect, on paper, MHI has said it wants the full implementation of “enhanced preemption” provision of the Manufactured Housing Improvement Act of 2000.  As the first bullet you above you provided says, that would benefit the entire industry. With that noted, the questions.

Follow up Question 1a) But doesn’t MHI’s failure to robustly and routinely push for enforcement call into question the wisdom of blind loyalty by Skyline Champion to “MHI’s efforts?” First, what efforts? When MHI leaders have met with HUD officials, why isn’t the MHIA’s Enhanced Preemption enforcement at the top of the list on the push? Letters they have sent may never be seen by the person it addresses. By contrast, when a face-to-face meeting occurs between HUD and MHI, shouldn’t that be raised each time until enforcement of preemption is a reality?

Question 1b) Additionally, wouldn’t MHI robustly pressing HUD in every meeting be in the best interest of shareholders?

Quoting your reply:

  • Expanding home buyer access to financing would benefit the entire industry.

Note that editorially, we would concur with that statement. However, that begs a follow up query.

Follow up question 2) Then why has MHI pushed for the “new class of manufactured homes” now called “CrossModTM” homes, when that program reportedly has virtually no traction? Rephrased, isn’t it prudent and in the interest of shareholders to off competitive lending on all manufactured homes instead of only a select few that are hardly selling?

As before, your reply below the question will help our mutual clarity and accuracy once we publish our report. Thanks, we look forward to your reply.

Tony

— [Note: as above, the key part of Janowicz’s reply on behalf of Skyline Champion is being turned bold, and in this case, brown, for emphasis. The text is as in her original reply.]

 

On Thu, Jun 11, 2020 at 11:36 AM Sarah Janowicz wrote:

Hi Tony – We appreciate the opportunity to provide responses to clarify questions relating to our earnings call. While we also appreciate the interest on getting our feedback on the additional follow up questions, we are declining to provide additional information at this time.

 Sarah Janowicz

Director of Investor Relations and External Reporting
Skyline Champion Corporation
755 West Big Beaver Rd., Suite 1000
Troy, MI 48084 

 

from: L. A. “Tony” Kovach @ MHProNews

to:   Sarah Janowicz @ Skyline Champion

date:    Jun 11, 2020, 12:27 PM

subject: Sarah, thank you…Re: Media outreach DBN

Sarah,

Frankly, I’m not surprised, but want to commend your replies to this point.

To MHProNews – as industry experts – it is self-evident that the behavior of certain larger players involved in MHI are behaving in a manner that is arguably contrary to the interests of their shareholders, not to mention the broader home seeking public. Some of what has occured defies reason and common sense.

MHProNews will do a report with what we have so far from SKY, and would encourage you to consider a follow up. Meaning, you can send a commentary or reaction to our report once published. Fair enough?

Thanks again for your timely responses.

Respectfully,

Tony

L. A. “Tony” Kovach
Managing Member
LifeStyle Factory Homes, LLC

DBAs:

MHLivingNews.com MHProNews.com | LATonyKovach.com 

— end of Q&A thread. Notice: there have been some other communiques relative to the photo used in this report, but they are incidental and add or change nothing in the exchange as reported here. —

###

MHProNews Fact-Check, Analysis and Commentary

In no particular order of importance, several items from Skyline Champion are relevant to investors, public officials, the broader industry, Manufactured Housing Institute members, afford housing seekers, the GSEs, and others.

It would be prudent to provide the added context of their Q4 2020 transcript, provided in full in our prior report on that topic at the report linked below on June 3, 2020.

Shortchanging Homeowners, Small Businesses, Unsuspecting Investors, Association Members-plus Sunday Manufactured Home Headlines Review 2.9 to 2.16.2020

That noted, the following will make even more sense. Again, in no particular order of importance, the following.

  1. Because Janowicz in the email thread clearly stated that she will circulate the questions when to their legal and corporate leaders, their responses are about as authoritative as someone can obtain.
  2. The time lag reflected in the email exchanges, shown above, further indicates that she did what she stated. Namely, Janowicz obtained leadership and legal input to the replies ‘in purple’ she provided to MHProNews.
  3. The screen capture of those emails will linked here soon, as additional authentication of the accuracy of the reporting. Only the email addresses are omitted or partially obscured for the sake of those involved.
  4. In prior reports, MHProNews has carefully laid out the notion – citing legal sources – that statements from a publicly traded firm are supposed to be true and accurate according to the knowledge and belief of an official making a given statement.
  5. Additionally, MHProNews has documented the point that corporate leaders are supposed to be acting in a fiduciary capacity, protecting the best interests of their shareholders. Two examples are linked here and here.
  6. Clearly, corporate leaders have the constitutionally-protected right to remain silent, along with all of the other God-given, constitutional, and legal safeguards. That ought to be respected.
  7. At the same time, when a corporate official – or in the instance of this email thread above – a group of corporate and legal officials decline to clarify already extensive statements, that must be seen as a cautionary or even red-flag event. Once Skyline Champion began to reply to the concerns posed, continued to reply, then what are objective thinkers supposed to believe when they declined to answer follow ups to their prior statements?
  8. Rephrased, Skyline Champion leaders in several respects underscored – by statements as well as omissions – didn’t they essentially de facto admit that they had painted themselves into a corner? Isn’t the absurdities of their various actions only drawn into sharper focus?
  9. Note that this Q&A isn’t an aberration. Pro-MHI member Andy Gedo recently debated MHProNews on relevant and related topics. Gedo, an intelligent and educated partner in the MHI member firm ManageAmerica, also tossed in the towel when the Q&As arguably led him into a corner from which no logical escape could occur.

What Andy Gedo – ManageAmerica Partner, Manufactured Housing Institute Supporter – Revealed About Clayton, Cavco and Skyline Champion Manufactured Homebuilders

10. In an unrelated matter, an attorney with no known ties to the Manufactured Housing Association for Regulatory Reform (MHARR) and with clear ties to MHI recently emailed a message that expressed the expert view that the industry was ‘rife with corruption.’ That should be considered by a range of other comments and actions by prior and current MHI members. Consider these examples.

NealTHaneyNAMHCO-MHCAQuoteReasonsBrokeFromManufacturedHousingInstituteManufacturedHomeProNews
All such quotes should not be construed as a blanket endorsement of all that a person or organization has said or done. Rather, with quotes or other references, we apply the principle of separating the wheat from the chaff. There are good reasons to source insights and relevant comments across an array of topics and viewpoints.

AndyGedoPhotoManageAmericaManagerLogoManufacturedHousingInstitutememberQuoteAgreesManufacturedHousingIndustryNeedsContrariansDevilsAdvocates-ManufacturedHomeProNews

MaryGaiskiPhotoPennsylvaniaManufacturedHousingAssocLogoThisYearWe'veHadMoreCallsAboutZoningDiscrminationThanPrevious5to7YearsQuoteManufacturedHomeLivingNews

CurtisDHodgsonFounderChairmanLegacyHousingPhotoQuotePlacetoPutChallengeManufacturedHousingRetailersManufacturedHomeProNews
Legacy Housing is an MHI member company.
MarkYostPhotoSkylineChampionLogoDutyToServeFannieMaeFreddieMacQuoteStillOnHoldManufacturedHousingProNews
When MHI or others claim that progress is being made on DTS, just ponder what Skyline Champion’s President and CEO Mark Yost had to say.
MarkYostPresCEOPhotoSkylineChampionLogoQuoteFannieFreddie100PercentBehindMHAdvantageVeryActiveSupportDTSManufacturedHomeProNews
Notice how Yost’s statement morphed from one earnings call to the next with respect to Freddie Mac’s commitment to the new class of manufactured homes key MHI members launched that they now call CrossModTM homes?
CVCOWilliamsBoorPhotoPresidentCEOCavcoIndustriesQuoteGSEsRemainConstructiveShouldTakeTimeMOvingInGoodDirectionLogoManufacturedHomeProNews
This is an odd statement at best or arguably demonstrably false at worst. How so? Because DTS was made law as part of the Housing and Economic Recovery Act (HERA) of 2008). Approaching a dozen years later, there is still negligible support for chattel lending, which is about 75 percent of most manufactured housing loans. 
MarkWeissDTSQuoteManufacturedHousingAssocRegulatoryReformMHARRDailyBusinessNewsMHproNews
While the comment was about DTS, there are parallel educational principles that apply. Manufactured housing arguably should be doing more sales of all kinds of lending. To accomplish that is in part an educational and communication issue. That is a post-production topic too, and yet where are the efforts by MHI to teach retailers and communities to attract more qualified customers to their offices and sales centers?

FollowTheMoneyPayMoreAttentionToWhatPeopleDoThanWhatTheySayMartyLavin6MillionYachtManufacturedHousingIndustryDailyBusinessNews600

KennyLipschutzPhotoHomeFirstCertifiedCommunitiesMHI-NCCmemberManufacturedHomeCommunityProNews

MartyLavinManufacturedHousingInstituteQuoteBigBoysManufacturedHomeProNews

Former MHI Vice President and founding president of the Manufactured Housing Association for Regulatory Reform (MHARR), unpacks step-by-step the problems with how MHI, FHFA and the Government Sponsored Enterprises (GSEs or Enterprises) have implemented the Congressionally-mandated Duty to Serve.

FHFA “Director [Mark] Calabria Must Initiate An Internal Investigation” – Danny Ghorbani Rips & Reveals Duty to Serve Problems, Solutions

The bottom lines at this time could be summed up like this.

  • Skyline Champion declined explanation of why their support for MHI made any logical sense.
  • Indeed, both statements and omissions point to the prima facie absurdity of supporting MHI on the issues noted. The only reason it would make sense is if they were more focused on consolidation than on industry – and thus their own company – growth. But isn’t that what Skyline as well as Cavco essentially have said themselves? That a priority is M&A instead of growth?

LaurieHoughEVP+CFOphotoSkylineChampionCorpSKYlogoQuoteSkylineChampionFocusedOnM+AConsolidationTopPriorityManufacturedHomeProNews

SkylineChampionIRPacketNov201920PercentMHProductionHighlyfragmentedManufacturedHomeProNews-575x270

CavcoIndustriesLogoInvestorRelationsPresentationCapitalAllocationOpportunitiesFactCheckAnalysisManufacturedHomeProNews

Cavco Industries “Killer Acquisition,” CVCO’s New Controversy Tests Antitrust Resolve

That then calls into question the wisdom of corporate decisions that are supposed to benefit shareholders.

https://www.manufacturedhomepronews.com/new-data-from-swiss-independent-data-provider-casts-shadow-over-publicly-traded-manufactured-housing-institute-member-firm-claims/
Updated. To see this full size, click to open.

The statements shown in conjunction with linked articles from this report are logical grounds for a formal probe of not only Skyline Champion, but others in top MHI firms, and MHI itself. See the linked and related reports above and below for more.

 

Subscribe to Our Newsletter

17162

CHECKLIST

 

iReportNewsTipsCommentsSendMastheadManufacturedHomeProNews
We recommend that news tips NOT use company, nonprofit or organizational emails or cell phones. To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or COMMENTS in the subject line.

Programming note. MHProNews is in the process of revamping our industry-leading x2 weekly emailed headline news updates. The revisions should be completed by late June or early July. Watch for it.

See the related reports following the byline and notices.

That’s a wrap on this installment of manufactured housing “Industry News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)

CongRepAlGreenDeskTamasKovachLATonyKovachPhoto12.3.2019ManufacturedHomeProNews
All on Capitol Hill were welcoming and interested with the discussion of manufactured housing related issues on our 12.3.2019 meetings. But Texas Congressman Al Green’s office was tremendous in their hospitality. Our son’s hand is on a package that included the Constitution of the United States and other goodies. MHProNews has worked with people and politicos across the left-right divide.

By L.A. “Tony” Kovach – for MHLivingNews.com.

Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.

http://latonykovach.com

Connect on LinkedIn: http://www.linkedin.com/in/latonykovach

Recent and Related Reports:

The text/image boxes below are linked to other reports, which can be accessed by clicking on them.

Complaints to State and Federal Officials, Agencies About Corrupt Practices in Manufactured Housing Industry Growing

PrimaFacieCaseRichardJennisonTimWilliamsKevinClaytonTomHodgesPhotoManufacturedHousingInstitute21stMortgClaytonHomesLogoEtAlManufacturedHomeProNews
https://www.manufacturedhomepronews.com/masthead/prima-facie-cases-against-manufactured-housing-institute-richard-a-dick-jennison-tim-williams-21st-mortgage-kevin-clayton-tom-hodges-clayton-homes-et-al/
TimWilliamsCallsLesliGoochSupurbButLatestTipRevealsAdditionalMHICEOGoochControversyConnectedDocumentsManufacturedHomeProNews
https://www.manufacturedhomepronews.com/tim-williams-calls-lesli-gooch-superb-but-latest-tip-reveals-additional-mhi-ceo-gooch-controversy-connected-documents/

Dark Money-Billionaires Buffett, Gates, Soros Funding Black Lives Matter, Antifa – Named by AG Barr in Riots, Looting – Hijacking Peaceful George Floyd Death Racial Justice Protests

CaseAgainstClaytonHomesYearsLegalRegulatoryClaimsManufacturedHomeLivingNewsLogos
https://www.manufacturedhomelivingnews.com/case-against-clayton-homes-years-of-legal-regulatory-claims/

New Data Surfaces on Buffett Family, Foundation Funding Sources Which Attacked Manufactured Housing, plus Manufactured Home Stock, Investing Updates

Warren Buffett’s “Moat” per Kevin Clayton, CEO Clayton Homes Interview Transcript, Video – Affordable Housing and Manufactured Homes
https://www.manufacturedhomelivingnews.com/warren-buffetts-moat-per-kevin-clayton-ceo-clayton-homes-interview-transcript-video-affordable-housing-and-manufactured-homes/
AmericanDreamRiggedSystemVsPositiveThinkingSuccessBooksSeminarsVideosMHProNewsLogoPXImages
https://www.manufacturedhomepronews.com/masthead/american-dream-rigged-system-vs-positive-thinking-success-books-seminars-and-videos/
WolfSheepsClothingRINOsDINOsMHInosClassicHeadFakesGaslightersTurncoatsEvent201–SundayHeadlinesReview5.10to5.17.2020MHProNewsLogo
https://www.manufacturedhomepronews.com/wolf-in-sheeps-clothing-rinos-dinos-mhinos-classic-head-fakes-gaslighters-turncoats-and-event-201-sunday-headlines-in-review-5-10-to-5-17-2020/ /
IllusionsCollusionsHeadIWinTailsYouLoseNeverLetSeriousCrisisGoToWasteGatesBuffettMassiveMoneyGrabsManufacturedHomeProNews
https://www.manufacturedhomepronews.com/illusions-collusions-heads-i-win-tails-you-lose-never-let-a-serious-crisis-go-to-waste-gates-buffett-massive-money-grabs/

“Where the hell have you been?” – MH Communities Giant Equity Lifestyle Properties Sees Pandemic Gold, Official Remarks, ELS Moves

“MHI Lies, Independent Businesses Die” © – True or False? – Berkshire’s Joanne Stevens Strikes Again

Fraud, RICO and Antitrust-Issues of Genius, Honesty, Legality, Competency-Berkshire Hathaway and Manufactured Housing Institute Leadership, Sunday Morning Headlines Review 2.23 to 3.1.2020

Kevin Clayton, CEO Clayton Homes, Explains Why Replacing Sales Professionals with Automation Makes Sense

Shortchanging Homeowners, Small Businesses, Unsuspecting Investors, Association Members-plus Sunday Manufactured Home Headlines Review 2.9 to 2.16.2020

ThePartyisOverCovid19CoronavirusBillGatesWarrenBuffettWuhanVirusSoWhatsNextManufacturedHomeProNews
The featured image includes several metaphorical items. It can be seductive – but dangerous – to believe certain things. A mask, among other meanings, is used to project a false face, often used by actors. The eye conveys vision or understanding, which that woman and the mask partially obscures. The wall can stand for the harsh reality that sets in when illusion and the hard facts meet. https://www.manufacturedhomepronews.com/masthead/the-party-is-over-so-whats-next/
15585

Subscribe to the Documented #1

Most-Read - Professional Emailed Headline News

Delivered x2 weekly to your inbox. 

Manufactured Home "Industry News,

Tips, and Views Pros Can Use."   ©

 

Where "We Provide, You Decide."  ©

15856
mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top