But as the runup to that report, it is a timely reminder that numbers of once respected business professionals have later been discovered to be massive scam artists. While Madoff may – at this time – be near the top of that list, he was never alone. Enron and WorldCom were big news. The scorn heaped on Lehman Brothers and Washington Mutual are other possible examples.
As a lead-up to that report, a quick survey of some select headlines in the past several weeks will make sense in framing possible criminal concerns with respect to COVID19 for Americans.
Lest anyone forget, it was March 14, 2020 that the report was published that had the headline, “Illusions, Collusions – “Heads I Win, Tails You Lose” – “Never Let a Serious Crisis Go To Waste” – Gates, Buffett Massive Money Grabs?”
It was March 26, 2020 that this headline and related report was unveiled “Hell is Coming” from COVID19, But Stocks Soar – Pershing Square’s Bill Ackman Outed by CNBC…” Ackman has significant ties to Berkshire Hathaway and they cashed in.
How about this headline on March 30? Kill Shot – MHI Bro Connected Plan is Crippling to HUD Code Manufactured Housing Independents; MHI’s Stance – Facts and Analysis
Tips were coming in at a pace previously unseen.
More COVID specific:
March 19 – China Coverup Timeline – Axios, Southampton U – Delays Cost Countless Lives, U.S., World Trillion$;
March 21 – “Crimson Contagion” Statement to Congress by Robert Kadlec, MD, Assistant Secretary For Preparedness and Response – this report has stayed near the top since it was published. ICYMI, don’t.
It was March 21st when this report was provide. Closures for Manufactured Housing, Others Announced, More Pending, plus Sunday Weekly Headline News Review 3.15 to 3.22.2020
It was on April 7, 2020 that this headline drew readers like a magnet – “Warren Buffett’s Buffet – Revealing Secrets, Unmasking Corruption in Business, Nonprofits or Government – Current, Former Managers or Workers Step Up with Tips, Insights and Whistleblowing.”
Time-and-again, MHProNews provided reports on the Daily Business News that pointed directly at concerns with Bill Gates, the Gates Foundation, Warren Buffett and related. But the Masthead has also shared insights.
- Energy & Environment Institute – Big Donors & Conflicts – Warren Buffett, Mike Bloomberg Undermine Manufactured Housing via Sierra Club Lawsuit
- WW III or Bio-Econ-Prop War I? Former U.S. Ambassador Says COVID19 “Crime of the Century”
- Gates-Gate – Will Trump Admin, State AGs Uncover Gates Foundation-WHO-Buffett-COVID19 and Investing Connections Mendacity?
· The Party is Over, so, What’s Next?
Or this “big one” on MHLivingNews, which draws several threads together.
Note that no one has debunked those reports, the evidence and concerns stands unchallenged at this time.
Manufactured housing is far from alone in suffering from arguably unjust market pressures that a proper application of antitrust or other existing laws would or could resolve. As a manufactured housing focused publisher, we naturally look at the big picture through the lens of the impact on our industry.
Our featured focus is found after the left-right media snapshot, our market graphics above and below the featured report, plus some quotable quotes.
Quotes That Shed Light American Social, Industry, National Issues…
Headlines from left-of-center CNN Business
- A stark divide
- SAN FRANCISCO, CA – OCTOBER 15: Jeff Bezos attends WIRED25 Summit: WIRED Celebrates 25th Anniversary With Tech Icons Of The Past & Future on October 15, 2018 in San Francisco, California.
- US billionaires got $565 billion richer during the pandemic, while unemployment skyrocketed
- Nearly 43 million Americans have filed for unemployment benefits during the pandemic
- American Airlines expands its US flight schedule for July
- ZoomInfo just went public. No, not that Zoom
- Here’s how telecom companies are rolling out 5G during a pandemic
- Europe’s ‘stimulus fireworks’: ECB and Germany throw new wall of money at the economy
- Four chicken industry execs indicted for alleged price fixing conspiracy
- Piers Morgan tells Rudy Giuliani on live TV: You sound deranged
- New York Times publisher responds to staff outrage over Tom Cotton op-ed
- How Wendy’s is responding to criticism after a franchisee’s donation to Trump’s campaign
- Apple is tracking iPhones stolen from its stores
- NBA Hall of Famer David Robinson says the black community is tired of business as usual
- WFH business office reopen
- Google will give every employee $1,000 to WFH. Its wellness chief explains why
- An aerial view shows American Airlines, Southwest Airlines and United Airlines jets parked at McCarran International Airport amid the spread of the coronavirus on May 21, 2020 in Las Vegas, Nevada. The nation's 10th busiest airport recorded a 53% decrease in arriving and departing passengers for March compared to the same month in 2019, a drop of more than 2.3 million travelers, as the COVID-19 pandemic impacts the travel industry.
- Thousands of people are volunteering to be laid off
- SAN ANSELMO, CA – AUGUST 29: In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images)
- People are saving more than ever. Where to stash your cash
- MARKETS
- DIVERSITY IN THE C-SUITE
- The number of black leaders at US companies is still dismal
- Female Fortune 500 CEOs reach an all-time high
- She was the highest-paid CEO in S&P 500 last year
- What Corporate America can do to really fight racism
- Japan’s central bank gets its first woman executive director in 138 years
- STRUGGLING TO STAY AFLOAT
- A pedestrian wearing a protective mask passes a Neiman Marcus Group Inc. store on Michigan Avenue in Chicago, Illinois, U.S., on Thursday, May 7, 2020. Governor Pritzker extended the state’s stay-at-home order through the end of May, but he loosened restrictions on certain outdoor activities starting May 1.
- Big chains filed for bankruptcy every week in May. Here are 6 of them
- AMC Theatres isn’t sure it can remain in business
- Pier 1 is officially going out of business
- Hertz files for bankruptcy
- Department stores are in trouble
- DIVERSITY IN THE C-SUITE
- The number of black leaders at US companies is still dismal
- Female Fortune 500 CEOs reach an all-time high
- She was the highest-paid CEO in S&P 500 last year
- What Corporate America can do to really fight racism
- Japan’s central bank gets its first woman executive director in 138 years
- STRUGGLING TO STAY AFLOAT
- A pedestrian wearing a protective mask passes a Neiman Marcus Group Inc. store on Michigan Avenue in Chicago, Illinois, U.S., on Thursday, May 7, 2020. Governor Pritzker extended the state’s stay-at-home order through the end of May, but he loosened restrictions on certain outdoor activities starting May 1.
- Big chains filed for bankruptcy every week in May. Here are 6 of them
- AMC Theatres isn’t sure it can remain in business
- Pier 1 is officially going out of business
- Hertz files for bankruptcy
- Department stores are in trouble
Headlines from right-of-center Fox Business
- JOBS
- This is the only city in America that saw job growth in May
- A new job market report released by recruiting site Glassdoor found that the city of Seattle was the only area in the United States in May to see job growth during the coronavirus pandemic.
- Starbucks puts $1M into racial equality grants after George Floyd killing
- JOBS
- Labor secretary predicts unemployment could fall below this level by end of year
- AutoNation cuts 3,500 workers for good
- ECONOMY
- China has done ‘good job’ upholding Phase One trade commitments to US, Lighthizer says
- Dow stages comeback, as S&P 500, Nasdaq post modest losses
- PERSONAL FINANCE
- 3 reasons your Social Security benefits could take a serious hit
- OPINION
- A bright spot for small businesses suffering through quarantines and looting
- WHERE TO NEXT?
- REAL ESTATE
- San Francisco’s remote tech workers leaving for these cities
- LOCKED AND LOADED
- LIFESTYLE
- Staggering number of Americans buy guns for first time amid unrest
- WHO INVITED THE CRICKETS
- LIFESTYLE
- Movie theaters begin reopening, but the experience won’t be the same
- OFFICES IN THE SHOP
- FORD
- Ford extends work from home until September for many employees
- RETAIL APOCALYPSE KING BEZOS?
- RETAIL
- Trump says Amazon ‘destroying’ shopping malls, hollowing out towns
- BOULDERS OF GOLD
- MARKETS
- Who are the biggest holders of gold?
- ‘TOXIC CULTURE’
- LEGAL
- Gabrielle Union files ‘America’s Got Talent’ discrimination complaint
- RADICAL PROPOSAL
- LIFESTYLE
- Protesters, officials call for police to be defunded
- GOVERNOR’S PLEA
- HEALTH
- Cuomo makes this demand of NYC protesters as city begins reopening
- TASTE OF SOHO
- LIFESTYLE
- Glitzy chain of exclusive clubs, known for NYC locations, may soon get rural
- MONEY FOR NOTHIN’
- PERSONAL FINANCE
- CBO reveals the massive problem with extended unemployment benefits
- SENDING STIMULUS
- ECONOMY
- White House reportedly considers up to $1T for next coronavirus aid package
- HATS OFF TO YOU
- LIFESTYLE
- Social distancing for Paris gallery achieved with ‘deconfinement’ hats
- SIMON SAYS MIND THE GAP
- RETAIL
- Simon Property Group sues Gap over $66M in unpaid rent
- ‘THIS IS INSANE’
- MONEY
- Elon Musk feuds with Jeff Bezos over censorship of COVID book
- MARKETS
- Bernie Madoff: judge denies sentence reduction bid
- CYBER SECURITY
- Chinese, Iranian hackers hit Biden, Trump campaigns: Google
- Facebook adding labels to state-controlled media, including Russian, Chinese outlets
- TECHNOLOGY
- Hackers and hucksters reinvigorate ‘Anonymous’ brand amid protests
- SPORTS
- NBA approves coronavirus season restart plan, sets July 31 date with 22-team format
- MARKETS
- Scientists retract study that found antimalarial drugs dangerous for coronavirus patients
- POLITICS
- AOC rips New York Times for ‘misinformation,’ slams Cotton op-ed
- LIFESTYLE
- Impossible Foods selling direct-to-consumer alternative meat
- SOCIAL MEDIA
- These politically charged social media posts are getting people fired amid protests, racial tensions
- OPINION
- Varney: Why we’re seeing the most ‘explosive’ market rally ever
- AMAZON
- Amazon sued over working conditions after NY worker says she spread coronavirus at home
- LIFESTYLE
- SeaWorld cleared to reopen 3 parks after coronavirus shutdowns
- ROYALS
- Prince Andrew’s removal from official duties reportedly set to be permanent
- MARKETS
- American Airlines soars on news it will boost US flights in July
- REAL ESTATE
- SEE PICS: This $15M Maryland home includes WWII Spitfire, stone church ‘ruins’
- This move will get people back to work, fatten paychecks of 150 million US workers
- OPINION
- This move will get people back to work, fatten paychecks of 150 million US workers
- SPORTS
- Drew Brees apologizes for comments after athletes attack his pro-flag stance
- MARKETS
- Amazon Air expands fleet of Boeing jets
- ECONOMY
- US jobs beginning to return from coronavirus shutdown. Which industries are hiring?
- MONEY
- First of Orlando’s major theme park resorts reopens for first time in months
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
A federal judge denied infamous Ponzi schemer Bernie Madoff’s request for early release.
Madoff’s attorneys had asked the court for compassionate release, saying he’s suffering from terminal kidney failure. They previously said he’s expected to live less than 18 months.
Second Circuit Appeals Court Judge Denny Chin on Thursday denied Madoff’s request and denied to hold a hearing about the request.
Madoff is serving a 150-year sentence for bilking investors out of billions of dollars. The victims of Madoff’s scheme included celebrities, wealthy investors and even the Wilpon family, owners of the New York Mets.
As of May 22, more than $14.3 billion had been recovered, according to the Madoff Recovery Initiative.”
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MHProNews has spotlighted the Madoff saga previously for the possible lessons learned for manufactured housing.
The Madoff whistleblower has warned about a scam he thinks is bigger than Enron.
Madoff Whistleblower – GE ‘Bigger Fraud Than Enron,’ plus Manufactured Home Stock Updates
MHProNews asked one of the attorneys on the Berkshire Board about the allegations against their firm.
Silence.
There are those who are involved in MHVille who know the truth but are afraid to speak out. While its understandable, it is arguably misguided notion.
There are typically several ways to expose and confront the corruption that yet another attorney familiar with the industry reminded MHProNews today believes plagues manufactured housing and its consumers.
The nation is going through a cathartic set of experiences. Will we as a nation and industry emerge stronger or weaker?
A special report is planned on that topic. Stay tuned.
Related Reports:
Manufactured Housing Industry Production Drops During COVID19 Closures
“Trailer Sales” Surge, Per Mainstream Media – Takeaways for Manufactured Home Independents?
Manufactured Housing Institute Insider’s Keith Ellison Revelation, “Anti-Consumer” Bias, Other Leaks
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.
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- 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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Spring 2020…
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.
https://www.manufacturedhomepronews.com/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.
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.
http://latonykovach.com Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
AEI Flash Housing Market Indicator
