On 1.2.2020, Folashade Abiola-Banjac, J.D., Manager of CliftonLarsonAllen (CLA) office in the Washington DC/Arlington metro was contacted about specific and generic questions regarding the filings of their purported client, the Manufactured Housing Institute (MHI) nonprofit.
Insights on CLA and the issues involved and how that may impact business and investing will be our featured-focus in this evening’s report.
Periodic readers of this business-nightly feature should note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business.
- How Carlos Ghosn fled – Carlos Ghosn, the Chairman and CEO of both Nissan and Renault
- A Turkish company says a rogue employee helped the fugitive auto executive escape
- Stocks were on a runaway train. Then Iran happened
- How high could oil prices go if Iran retaliates over US attack?
- US oil workers encouraged to leave Iraq
- US manufacturing plunges deeper into recession
- Here’s how much the autoworkers strike hurt GM
- Tesla just cut the price of Model 3 cars made in China
- Tesla delivered 367,500 cars last year
- Google cuts Xiaomi’s Nest access for showing photos of strangers’ homes
- The hazards of being CEO
- The box office had a big 2019 thanks to Disney
- Fortnite made $1.8 billion in 2019
- The NFL dominated TV again
- Delta workers sue Lands’ End over uniforms
- Apple patents surround sound-like technology for a MacBook
- iMessage from a PC? Yup. If you have a Dell
- Google’s answer to iMessage is finally here
- Apple may ditch the lightning charging cable
- Why Apple keeps killing tech before you’re ready to give them up
- Looking for a new job? These are the best skills to have on your resume
- 5 things to do before a job interview
- Why you should go on informational interviews
- Fired? Here’s how to handle it in a job interview
- How to write the perfect resignation letter
Headlines from right-of-center Fox Business.
- WATCH: Trump says he ordered strike, killing top Iranian general, to ‘stop a war’
- President Trump makes his first public comments about the U.S. airstrike that killed Iran’s top general, Qassem Soleimani.
- Democrats call US killing Iranian commander ‘reckless’
- READ: Department of Defense statement strike killing Soleimani
- Stocks slide, as oil and gold jump, after top Iranian commander killed in US airstrike
- Citi reveals possible strategy for investors to make money off conflict
- White House bracing for Iran’s ‘retaliation,’ worried about this mode of attack: report
- Top Iranian commander was plotting to attack Americans: Gen. Jack Keane
- Varney: US kills top Iranian general, but how will this play out financially?
- Lori Loughlin preparing for potential jail time, expert calls move ‘worst advice’
- Raunchy trilogy dominates decade’s bestseller list
- America’s booming economy will leave behind these states in a troubling sign
- Amtrak motors toward breaking even for first time in decades
- Billie Eilish brings baggy back to fast-fashion powerhouse H&M
- Latest Fed minutes preview potential interest rate moves
- US factories give the worst economic omen in a decade
- Millennial builds $130M real estate portfolio on savvy student housing play
- Bill Gates reveals stance on how US should tax the ultra-wealthy (like him)
- State posts high-as-a-kite sales after first day of recreational pot sales
- FTC sued by Axon body-worn camera company
- Amtrak on track to break even for first time in 50 years
- Airline workers sue Lands’ End over ‘toxic’ uniforms
- ‘Jeopardy!’ titans compete for $1 million, ‘Greatest of all time’ title
- Overlooked, tough-as-nails group the next big thing in entrepreneurship
- US foreclosures reportedly hit 14-year low
- Where to buy a home abroad, and benefit from it financially
- How IBM uses AI to help Harley-Davidson find future riders
- How the US killing Iran’s top general could move markets
- How a former monk is teaching Fortune 500 CEOs to chill out
- ‘Psychic’ scams mom for $70K after saying 10-year-old daughter ‘possessed’: Police
- Avon CEO steps down as era ends for company
- Disney’s seven $1 billion movies keep its kingdom magical
- Gloria Vanderbilt’s childhood home gets $10M price cut — take a look inside
- Zoom founder: Immigrant tech CEOs show we should ’embrace’ immigrant talent
- Parents of adult children with disabilities fill housing gap
- 5 crew members feared dead after Alaska fishing boat sinks
- Lowe’s to hire thousands for spring season
- Flight records of Ghosn escape falsified to hide auto exec’s travel, jet firm says
- Why ‘Housewives’ star may escape costly prenup amid divorce rumors
- ‘Brandless’ brands will be big moneymakers in 2020: Report
- Trump reelection campaign says RNC putting together ‘jaw-dropping’ war chest
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Meet
In order to provide a balanced snapshot, let’s begin with this self-description from CLA’s website.
“CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, outsourcing, audit, tax, and consulting services. With more than 6,100 people, 120 U.S. locations and a global affiliation, we promise to know you and help you.
We are dedicated to building an inclusive culture that thrives on different beliefs and perspectives. By welcoming and respecting our clients and each other, we can all experience success. Watch this short video to learn about our unique commitment to those we serve.”
The video below is there source of elements of the collage of images above. The video is about CLA.
Their YouTube page said as follows:
“CliftonLarsonAllen: Serving Nonprofits
Nonprofit leaders face a range of regulatory and economic challenges. This video explains how CLA can help strengthen and guide nonprofits and their leaders.”
Against that backdrop of their self-proclaimed expertise, is this from Wikipedia.
“In September 2013, CLA agreed to pay a $35,100,000 settlement on the audit of the City of Dixon, Illinois. CLA had performed the audit for many years, but CLA had failed to recognize fraud committed by the city’s controller Rita Crundwell that amounted to nearly $54 million. In addition, the firm was fined by the Illinois Department of Financial and Professional Regulation.”
The last element for this evening is the message sent to the person which the CLA website said is the Arlington office manager.
— Emailed message and questions to CLA Manager —
Folashade Abiola-Banjac, J.D.
Let me begin with the disclaimer that we are the manufactured housing industry’s largest trade media and we are seeking both generic and specific information about a nonprofit that has listed your firm as having assisted with the preparations of their IRS Form 990 for the last few years. See the image above.
Q1) Is MHI in fact your client?
Q2) Are you aware of allegations against the operation? Please carefully review what follows for your complete understanding of the concerns.
Q3) What reporting is required for a preparer like your firm when allegations of perjury and other possible federal violations are alleged?
Kindly email your reply after each question for our mutual accuracy. There is no word limit.
— end of quoted part of email to CLA Manager —
MHProNews has sent a follow up to Abiola-Banjac, and her colleagues. We’ll report as deemed appropriate on any follow up from the firm.
As Abiola-Banjac is an attorney, the question may arise about the issue of suborning perjury. Here is what a legal source and Wikipedia said about that issue.
Concerns have been raised that MHI, in apparent conjunction with MHInsider and other industry sources, has behaved in a fashion that is harmful to the industry’s independents. The manner of the alleged market manipulation could impact investors in publicly traded firms, depending on how public officials and related investigations develop.
In business, when a plan flops a common response is to try to learn lessons from that failure, cut your losses and move on. But the Manufactured Housing Institute and its key ‘big boy’ backers apparently feel no compuction about pressing ahead with a plan that has already failed in the market, and which has caused the GSEs that supported the plan to ask the FHFA to scale back their commitment to it.
See the related reports below.
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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