Today’s spotlight showcases an exclusive report on the latest acquisition by Warren Buffett’s Clayton Homes.
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Selected headlines and bullets from CNN Money:
- How the Trump economy is really doing
- Google’s culture tested by anti-diversity memo
- Netflix buys comic book publisher Millarworld
- NFL player announces retirement in a sponsored tweet
- Raging bull: 9 records in a row for the Dow
- Guess how much GM is selling this electric car for
- Anthem exits more Obamacare markets
- NYC mayor: Tax the rich to fix the subway
- Republicans step up effort to oust CFPB chief Cordray
- Venezuela inches closer to default
- Pro-Trump pundit goes from CNN to RNC
Selected headlines and bullets from Fox Business:
- Wall Street ends higher as Dow edges to latest record
- US consumer credit rose at slower pace in June
- Gas prices climb as summer driving heats up
- Anthem to withdraw from ObamaCare exchange in Nevada
- Rockwell Collins & United Technologies in deal talks?: Report
- Mylan’s EpiPen still king of the allergy market, despite criticism
- The most profitable private companies in 2017
- NFL’s Vince Wilfork retires with BBQ ad on Twitter
- CBS reports 9.4 percent rise in quarterly revenue
- Amazon isn’t main culprit in death of retail: Strategist
- Mueller investigation could be finished before midterm elections, says Robert Ray
- Conor McGregor has no chance against Floyd Mayweather, UFC rival says
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Today’s markets and stocks, at the closing bell…
S&P 500 2,480.91 +4.08 (+0.16%)
Dow 30 22,118.42 +25.61 (+0.12%)
Nasdaq 6,383.77 +32.21 (+0.51%)
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10-Yr Bond 2.257 -0.01 (-0.44%)
Russell 2000 1,414.17 +1.85 (+0.13%)
Manufactured Housing Composite Value
Today’s Big Movers
Patrick, LPX lead risers.
NOB, UMH lead sliders.
For all the scores and highlights on tracked stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report – Warren Buffett’s Berkshire Hathaway’s Clayton Homes’ Latest Buyout, More
As the Daily Business News signaled to readers about 2 weeks ago, Warren Buffett’s Clayton Homes has closed Friday on its latest manufactured housing industry acquisition.
Home-Mart in Tulsa, OK is now a part of the Clayton Homes family of retail brands.
Doug Gorman’s multiple award-winning location – which he now manages for Clayton – is literally across the street from a Clayton Home retail center branded store.
Informed sources tell MHProNews that several hundred thousand dollars have been set aside by Clayton for planned improvements and upgrades of an already appealing location on East Admiral Blvd, in Tulsa OK. No doubt, the website will undergo a facelift in the near term too.
The Real News Behind the Deal?
There are several elements to what some say is the ‘real news’ behind what might otherwise look like “just another acquisition by Clayton of a retail center.”
Gorman – an RV/MH Hall of Fame inductee and multiple MHI award winning member – had the interesting habit of periodically taking the perspective of the Manufactured Housing Association for Regulatory Reform’s (MHARR) position on an issue, as opposed to the one being advanced by MHI.
The latest example? Is an Op-Ed by Gorman, linked here. It’s on a topic that rankles MHI’s ire, per our sources.
Will such public positions by Gorman – that might prove embarrassing to MHI be allowed to continue – now that he’s an employee of a Buffett brand, which holds two of the four executive committee seats for MHI?
Another point is linked here, and that’s the signal that the Atlantic and IBIS World provided the industry, and which MHProNews’ flashback, flashforward reporting underscores.
As one of the industry’s state association executives have told MHProNews, not only does Clayton control about 50 percent of the industry’s production, but in some states, floor dues are well over that mark. Why? Because Clayton’s vertically integrated retail centers are not limited to buying from Clayton Homes.
What that means is that in several states, 60 percent plus of the sales – and floor revenues – flowing into an association is from Clayton. Doesn’t that clearly give them enormous influence in those markets?
This is part one of a multiple part, periodic series on Buffett’s Berkshire Hathaway/Clayton Homes and the manufactured housing industry. Watch for another upcoming feature, soon.
See Recent Exclusive 1 Year Snapshot of All Tracked Stocks
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).
Manufactured Home Industry Connected Stock Markets Data
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. LCI Industries, Patrick, UFPI and LP all supply manufactured housing, while 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.