Before pivoting to the headline, let’s create a quick snapshot. Protests in some 20 states that aim to pressure governors into opening businesses back up reveal the growing frustration by businesses and workers of shuttered or limited operations.
Medical research data is emerging that if true suggests that the health risks from COVID19 a.k.a. the Wuhan Virus – while real – has also been overblown.
Meanwhile, oil is plunging. While that may sound like good news to manufactured housing transporters or others, those manufactured housing companies who are in energy producing states know that the historically low rate per barrel in recent weeks are simply not sustainable. America achieved energy independence for the first time in decades during the Trump Administration. Will the U.S. soon lose that status when waves of oil producers inevitably file for bankruptcy if changes aren’t made swiftly?
Then, there is an obvious culprit in this – Communist China. Having U.S. supply chains originating in that nation for medical – and scores of other products and supplies – are now looking like a pretty shortsighted notion. Trillions of dollars in economic damage have occurred. While some think there will be a swift rebound when America and other nation’s “reopen,” that isn’t a guarantee.
England is one of several countries pondering a new – and cooler – relationship with the Beijing regime. Is a new economic and geo-political cold war looming?
Last but not least, as a university researcher told MHProNews last week, there are good reasons to believe that manufactured housing could be poised for growth. On paper, that researcher’s logic is sound. However, the industry’s internal challenges are still an all-too-real hurdle to be overcome. The debate linked below sheds light on those issues.
Debate! Current, Former Manufactured Housing Institute Members Battle Over Clayton Homes, MHI, Other Key Member Activities and Industry Performance
It is through that lens that this evening’s report should be pondered. As usual, that will be found after our standard evening graphical fare, plus our well-known left-right media headline bullets.
Every Business Nightly – Headline and Graphical Insights-at-a-Glance.
Every weekday night that the stock markets are open, we provide headlines from left-of-center CNN followed by right-of-center Fox Business. It is sometimes surprising how much 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 spun by some that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business
- Pump jacks draw crude oil from the Long Beach Oil Field near homes in Signal Hill, California, on March 9, 2020. – Global stocks and oil prices rebounded on March 10, 2020 on hopes of US economic stimulus efforts as the coronavirus rages, one day after suffering their biggest losses in more than a decade. Trading is exceptionally volatile as investors attempt to get a grip on a rapidly changing news flow, with positive reports of progress in China on the virus clashing with a Saudi decision to increase oil output in an already over-supplied market.
- American oil crashes below $0 a barrel, its lowest in history
- Oil prices turned negative. Hundreds of US oil companies could go bankrupt
- LIVE UPDATES Stocks sink as US oil prices plunge
- Bailing on stocks is a mistake: Cash is not always king
- Chain restaurants got big PPP loans when small businesses couldn’t
- United lost $2.1 billion in the first quarter
- Shake Shack returns $10 million emergency loan to the US government
- Boeing won’t be returning to ‘normal’ anytime soon
- Experts say it may be time for grocery stores to ban in-person shopping
- 4/20 goes digital as coronavirus clouds cannabis’ high holiday
- Sheryl Sandberg on coronavirus: ‘Right now, everyone’s living in Option B’
- Analysis: A new generation of White House reporters are holding Trump accountable
- Piers Morgan says his friend President Trump is ‘failing the American people’
- A Boeing Co. 737 aircraft operated by Virgin Australia Holdings Ltd. takes off from Sydney Airport in Sydney, Australia, on Thursday, March 5, 2020. Virgin Australia, part of billionaire entrepreneur Richard Branson's Virgin Group, warned last week that the coronavirus is expected to reduce earnings by A$50 million ($33 million) to A$75 million in the second half of 2020.
- Richard Branson offers his island as collateral as Virgin Atlantic faces collapse
- You can burn out when you’re working from home, too
- LONDON, ENGLAND – MARCH 05: Meghan, Duchess of Sussex and Prince Harry, Duke of Sussex attend The Endeavour Fund Awards at Mansion House on March 05, 2020 in London, England.
- Meghan and Harry tell four British tabloids they can expect ‘zero engagement’
- RESTARTING THE ECONOMY
- Reopening movie theaters is more complicated than you’d think
- German experts have a plan to reopen the economy
- VW and Toyota to reopen European plants this week
- Boeing will restart Washington state factories
- Starbucks has a plan for gradually reopening
- PLUNGING DEMAND FOR CARS
- In this Sunday, March 15, 2020, photograph, a long row of unsold 2020 Colorado pickup trucks sits at a Chevrolet dealership in Englewood, Colo.
- Automakers are offering extreme deals. Buyers: proceed with caution
- Online sales are now the auto industry’s best hope
- Ford developing new respirator mask with 3M
- GM prepares to ship first round of ventilators
- China is giving cash to car buyers to revive sales
Headlines from right-of-center Fox Business
- Stocks tank as oil falls below zero for first time ever
- At a price below zero, buyers would be paid to take delivery as there are costs associated with transportation and storage.
- Oil crashes 305% to -$36.73 a barrel
- Varney: Oil crash a ‘shocking’ example of coronavirus severity
- Mnuchin, Dems nearing $370B stimulus
- Stocks are ‘unlikely’ to revisit March lows
- Why Facebook is erasing certain events
- Opinion: ‘Made in China’ supply needs to go
- FCC OKs network over Pentagon objections
- Stocks slide as oil crashes below zero
- Restrictions at US borders extended
- Will lotteries be suspended?
- World economies hit hardest by virus
- ‘Save small business’ grant program launches
- Opinion: Farmers are true pandemic heroes
- Coronavirus outbreak forces yet another meat production plant to close
- Small biz outraged as JPMorgan forks over millions to big restaurant chains
- Wealthiest college in US to receive $9M in aid from taxpayers
- Coronavirus lockdown protesters gather in Pennsylvania, other hard-hit states
- College students fearful of job market as virus-fueled pressure intensifies
- Chick-fil-A launches multi-million coronavirus relief effort
- IKEA finally shares meatball recipe after stores close
- Coronavirus couldn’t derail new ‘Talking Sopranos’ podcast
- Madoff Ponzi scheme victims repaid additional $378M: Justice Department
- Coronavirus forces Louisville Slugger to shut down baseball bat production
- College’s hazing scandal draws three more lawsuits
- Cash-strapped Los Angeles to furlough city workers for weeks over next year
- Liquor stores restricted to online-only sales launch curbside pickup
- Coronavirus prompts Chipotle to launch ‘4HEROES’ program, offer free burritos to health care workers
- New York City police grocery shop for elderly Korean War veteran stuck inside
- EXCLUSIVE: Legendary financier lobbying Amazon for free virus testing
- Varney: Democrats offering no coronavirus leadership
- WATCH: ‘Operation Gridlock’ protester yells at health care worker, sparks outrage
- Pot industry tested on high holiday as virus batters economy
- Why payroll tax waiver, wage subsidies make most sense for stimulus measures
- Lawyers brace for suit tsunami as companies invoke ‘act of God’ clause in contracts
- NFL fearing cyber attack during online draft
- READ IT: Harry, Meghan Markle write scathing letter to British tabloids
- Hackers target stimulus checks through email: How to protect your money
- Meet the 10 richest billionaires in Palm Beach
- Halliburton books $1.1B charge as oil crash whacks spending
- Coronavirus claims first major US retailer
- Employees at major retailers now required to take this safety precaution
- How Facebook plans to track coronavirus spread
- Fired Amazon workers calling for mass ‘sick out’
- Coronavirus outbreaks strike meat plants across US
- Richard Branson: What Virgin Atlantic will need in order to survive
- Beach bummed: Virus shutdown threatens popular US travel destination
- Lockdown protests expand to 20 states as economic woes mount
- This country will require Facebook, Google to pay for news content
- At least 16 killed in Nova Scotia shooting, deadliest in Canadian history
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
Per an email from HUD:
Sent: Thu, Apr 16, 2020 5:08 pm
Subject: Industry-Wide AC Letter for Windows
Good Afternoon All:
I hope this email finds everyone safe and healthy. On behalf of Administrator Teresa Payne, please find an industry-wide Alternative Construction letter for windows (20-IW1-AC).
To promote the purposes of the National Manufactured Housing Construction and Safety Standards Act and assist the manufactured housing industry that is currently faced with window supply chain challenges due to the COVID-19 Pandemic, the U.S. Department of Housing and Urban Development (HUD) is issuing the first ever industry wide Alternative Construction (AC) letter. This action allows manufacturers that need the flexibility, to continue production of affordable housing and install windows that meet or exceed the Federal Standards. This letter does not require individual manufacturers to request approval, saving time, burdens, and costs that would otherwise be incurred with a typical AC letter.
We have tried to ensure that all IPIAs, DAPIAs, SAAs, and manufacturers have been sent this correspondence. However, please make sure that your manufacturing clients are aware of this action…”
The HUD letter is linked here.
Industry producers that were asked about this had a range of responses. They included the following, with each bullet a different quote from a different HUD Code home producer:
- “From what I’ve heard from only one manufacturer, Lippert (Kinro). I was informed by my purchasing manager, the window factory in Texas is completely shut down and the other factory, don’t know where it is (use to be Double Springs, AL) only at about 50% production due to this covid-19.”
- “Purchasing Managers are fairly adept at scrambling when they have to so maybe our time in the box is coming.”
- “Kinro couldn’t produce because a plant went down. We had already sought out another source and have not been adversely affected. I believe supply chain disruptions are as big a threat right now as the virus itself. We are trying stay ahead of it but who knows. Several factories in Texas went down because of the shortage early last week.”
MHProNews reached out to Kinro/Lippert for comment late in the afternoon. They have not yet replied as of press time. There is no visible news current report about this topic from Lippert, per a Google search.
MHProNews will continue to track such issues.
Notice: We thank our experts, sources and tipsters who have been providing this platform with the most updated independent information in the industry.
Bias Confirmation, MHI’s SBA PPP Funding Effort, plus Sunday Manufactured Home Headlines Review 4.19.2020
Historic Insights; Legacy Housing, Franklin Homes, Other HUD Code Builders and 2020 Tunica Show Cancellation Impact
MMI Exec Michael Glass’ Exclusive Analysis on COVID19 Impact on Manufactured Home Communities; Latest 2020 “Parks” Data & Trends
Special COVID19 Economic Data, Report and Projections from Marcus & Millichap, plus Manufactured Home Stock, Investing Updates
CFPB Issues Key Ruling on CARES Act – Affordable, Manufactured and Modular Housing Industry Significance
Communities, Assoc Exposé – Whistleblower “Leaks” – Lesli Gooch Manufactured Housing Institute (MHI) CEO and Sheila S. Dey, Executive Director Western Manufactured Housing Communities Association (WMA)
Legacy Housing’s “Kenny and Curt” COVID19 Document Leak, “World Class “Shuckers-and-Jivers”- Skyline Champion Revelation
MHARR Warns-Not Just Factories, Retailers Need “Essential” Business Designation, plus Manufactured Home Stock, Investing Updates
Legacy Housing’s “Warren Buffett Type Moat” and COVID19 Response Plan Assailed by Company Whistleblowers
Wrongful Death COVID19 Case Alert to Landlords, Producers; News Tips, AG Barr Warns Christian Rights Violations on Easter – Sunday Headlines Review 4.5 to 4.12.2020
Shots Fired-Deaths at Clayton Homes Plant, Oil’s Plunge, plus Manufactured Home Stock, Investing Updates
Clayton Update; Pro-Trump Independents vs Anti-Trump MH Communities Green Courte Partners CEO David Lentz? Plus, Manufactured Housing Headlines in Review 3.22 to 3.29.2029
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).
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 each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our tenth anniversary and is in year 11 of publishing.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
Celebrating 10 Years of Goal- and Solution-Oriented Manufactured Home Industry Innovation Information, and Inspiration for Industry Professionals
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
2019 Year-End Totals Reveals Decline in New HUD Code Manufactured Home Production, Shipments vs. 2018
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, 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.)
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.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach