The Institute for Policy Studies (IPS) describes itself as follows. “We’re a progressive organization dedicated to building a more equitable, ecologically sustainable, and peaceful society.” IPS’ writers Chuck Collins and Helen Flannery coauthored the following. “GILDED GIVING 2022: How Wealth Inequality Distorts Philanthropy and Imperils Democracy.” In their 2020 edition of this periodic series of research and policy advocacy reports, IPS’ report said the following with italics added by MHProNews. “Ten years ago, in August 2010, several dozen U.S. billionaires led by Bill Gates and Warren Buffett pledged to give away at least half of their wealth before their death. Many have donated considerable sums to charities and foundations since then. But as a group, these billionaires have seen their fortunes skyrocket in the decade since the so-called Giving Pledge was launched.”  That is an interesting dynamic. A self-described progressive IPS is fingering in their Gilded Giving series of reports about self-described progressive-Democrats supporting Buffett, Gates, and other left-leaning billionaires. That individuals and organizations named, implied, and described in this series of reports on nonprofits and foundations impact manufactured housing specifically, and the U.S. economy, policymaking, news, and governmental action or inaction will become clear in this report and analysis.

Quoting IPS in their self-described work and impact illustrates the point: “In partnership with dynamic social movements, we [IPS] turn transformative policy ideas into action.

Buffett’s longtime Berkshire Hathaway partner Charlie Munger had the following on his MTO law firm website. Put bluntly, Munger and his partners have proudly labelled themselves as progressives. But what about Buffett?

To illustrate Buffett’s apparent buy-in with such notions and vision are years of the billionaire’s support for so-called progressive candidates and his own donations to progressive causes and nonprofits. Among them have been Illinois Senator turned President Barack Hussein Obama (D), former NY Senator and Obama-era Secretary of State Hillary Clinton, and the Clinton family’s progressive foundation, the Clinton Foundation. Said IPS on their website on this date: “Some of the greatest progressive minds of the 20th and 21st centuries have found a home at IPS…” Among the trustees at this time? Says IPS: “Harry Belafonte Trustee, Singer, Actor, Producer, Activist” and actor and multi-year Buffett-funded nonprofit board member Danny Glover. There is also the influential Ford Foundation’s: Sarita Gupta – Board Chair |Vice President | Ford Foundation. Longtime and detail-minded MHProNews/MHLivingNews readers may recall that the Ford Foundation has funded research into manufactured housing.

 

Note too that another IPS trustee is, per the IPS website: Katrina vanden Heuvel – Trustee | Editorial Director and Publisher – The Nation. The Nation published an expose of Warren Buffett’s moat methods, specifically citing Clayton Homes and the manufactured housing industry.

As the left-leaning Democracy Journal has framed it: “personnel is policy.” Or as the right leaning Wall Street Journal stated in an op-ed: “People Are Policy.” Who sits on the board is a reflection of the organization as much, sometimes more, as the beliefs as reflected by the actions of an organization’s staff may be. Follow the money trail, and follow the behaviors, in order to understand what the distinction between statements and deeds might be.

In this evidence-packed report that extensively cites the various referenced sources, MHProNews will present several of the key takeaways from their most recent IPS “Gilded Giving” 2022 report. The brief intro above sets the stage why this matters to manufactured housing specifically as well as to broader look at U.S. economic, politics, policies, power and related concerns. IPS’s entire report is provided further below as a download. Then, a focused segment will follow with “Additional Information with more MHProNews Analysis and Commentary.” It will provide insights that at times will echo IPS’ findings, though it will also question the proposed solution that IPS advances to the problem of the power of what IPS described in their headline as: “GILDED GIVING 2022: How Wealth Inequality Distorts Philanthropy and Imperils Democracy.”

In that ‘people are policy’ context, coauthors of Gilded Giving 2022 Collins and Flannery are described by IPS on their website as follows.

Chuck Collins

Program Director

Institute for Policy Studies

Projects: Program on Inequality and the Common Good

Interests: Dynasty Trusts, Estate tax, Hidden Wealth, Inequality, New Economy, Offshore Taxes, Philanthropy, Progressive Populism, Racial Wealth Gap, Tax Reform, Tax subsidies

Helen Flannery

Associate Fellow

Institute for Policy Studies

Projects: Program on Inequality and the Common Good

Interests: Inequality, Philanthropy

So, those who are in the leftist-progressive camp should feel at home with much of what IPS says and does. Self-described conservatives and those on the right should strive to understand the nuances of the above and what follows in their “Gilded Giving 2022.” Because in a nation where ‘divide and conquer’ or ‘divide and rule’ are strategic notions that aim to silo the understanding and thinking of various camps and interest groups, it is useful and necessary to grasp the statements as well as the realities behind the behaviors of those in positions of influence or power. Thus, numerous times weekly, MHProNews/MHLivingNews sources information from across the left-right spectrum to find evidence and examples of what is, the various goals and agendas, and how those agendas may agree or disagree in practice with behaviors.

 

With the 2022 midterm elections less than 50 days away on this date, risks that “imperil democracy” ought to be of concern to people across the political spectrum. Left-leaning USA Today cited this report on 9.9.2022. Per left-leaning Axios on 8.13.2022: “A new report from the Institute for Policy Studies shows megaphilanthropy crowding out individual donations.” Or as IPS’ website said on 7.19.2022: “Our nation’s charitable system is in danger of becoming a taxpayer-subsidized platform of private power for the ultra-wealthy.”

Chuck Collins and Gilded Giving quoted in USA Today on 8.7.2022: “When billionaires like Bill Gates give away ‘virtually all’ their wealth, where does it go?” That is a key question, because following the money trail and then following the behaviors are essential to understanding what the distinction between words and deeds may be. That topic was recently unpacked in the report linked here. Some people say what they mean and mean what they say. Others use language in a fashion that requires at least a basic grasp of the notion that some people, writing, speeches and organizations must be viewed as paltering.

Given the factual and evidence-based foundation above, let’s dive into what IPS’ said about their research. Keep in mind that in quoting IPS, or any other source, that should not necessarily be construed as an endorsement by this publication. Quoting a source reflects the statements – and sometimes the beliefs – of that source. Quoting a source that provides evidence merits a higher level of attention, to the degree that claims made line up with objective reality.

INTRODUCTION

As inequality has grown in the United States, our nation’s charitable system is in danger of becoming a taxpayer-subsidized platform of private power for the ultra-wealthy. This poses risks to the independent nonprofit sector and our society as a whole.

Since our first edition of Gilded Giving 2016: Top Heavy Philanthropy in Age of Extreme Inequality, we have shown that charities are receiving shrinking amounts of revenue from donors at lower- and middle-income levels, and that they are more reliant on larger donations from smaller numbers of wealthy donors. And we have shown that wealthy donors tend to pour their dollars into foundations and donor-advised funds — charitable intermediary vehicles they control — rather than into public operating charities (i.e. active nonprofits on the ground).

This updated edition of Gilded Giving describes the extent of the capture of our charitable sector by the wealthy, the risks this poses, and how it has been exacerbated by the pandemic and other external factors. We also propose strong reforms that would reverse these trends and realign our charitable system to serve the public interest.

 

Per IPS.

KEY FINDINGS

• Fewer than half of all U.S. households now give to charity.
  • From 2000 to 2018, the most recent data available, the proportion of households giving to charity has dropped from 66 percent to just under 50 percent. These declines track indicators of economic insecurity such as employment, wages, and homeownership rates.
• The share of households that claim charitable deductions fell significantly after sweeping tax reform in 2017. 
  • Following the passage of the Tax Cuts and Jobs Act, the proportion of taxpayers who itemized their charitable giving fell from 25 percent in 2017 to just 10 percent after the bill took effect in 2018.
  • The effect stuck: just 9 percent of households claimed charitable deductions on their returns in 2019. These changes most affected middle-income and affluent households earning $50,000 to $400,000 per year.
• Philanthropy is becoming increasingly top-heavy.
  • In the early 1990s, households earning $200,000 or more accounted for less than 25 percent of all charitable deductions. By 2019, the most recent year available, this group accounted for 67 percent.
  • The share of charitable deductions claimed by those at the top of the income scale has grown particularly quickly: households making over $1 million accounted for just 10 percent of charitable deductions in 1993, but accounted for 40 percent in 2019.
• Mega-giving is booming.
  • In 2011, Giving USA’s threshold for mega-gifts was just $30 million, and gifts of that size or larger amounted to $2.7 billion.
  • By 2021, just 10 years later, the mega-gift threshold had jumped to $450 million, and gifts of that size or larger added up to nearly $14.9 billion.
• The top two charitable causes of ultra-wealthy donors are their own private foundations and donor-advised funds. 
  • In early 2022, the Chronicle of Philanthropy published its annual list of the top 50 philanthropists in the U.S. Of the $25 billion in identifiable gifts that the group donated in 2021, 69 percent of it — more than $17 billion — went to private foundations.
  • The second-largest chunk, more than $2.6 billion, went to donor-advised funds (DAFs).
  • Both of these intermediary giving vehicles are favored by wealthy donors because of the significant tax advantages they offer.
  • But funds may or may not flow from them to active charities in a timely way; there is no guarantee that they will fulfill the public interest.
• Contributions to donor-advised funds are skyrocketing. 
  • In 2020, for the first time, donations to DAFs caught up with contributions to private foundations; both received roughly $48 billion from donors that year.
  • The largest single recipient of charitable giving in the U.S. for the past six years has been the Fidelity Charitable Gift Fund — a commercial DAF sponsor.
  • For the past three years, six of the top 10 charities have been DAF sponsors.
• Gifts to private foundations and donor-advised funds now divert nearly a third of charitable giving in the U.S. 
  • Giving to private foundations has increased from 6 percent to 15 percent of all charitable giving since 1992.
  • Giving to DAFs has increased from 4 percent to 15 percent of all charitable giving since 2007.
  • Together, these charitable intermediaries now soak up 30 percent of all U.S. donations — more than quintupling their share of the charitable pie in less than thirty years.
• The public wants this system to be reformed.
  • According to a new Ipsos poll, 81 percent of Americans do not believe that taxpayers should subsidize the wealthy to create perpetual private foundations. And the overwhelming majority also want private foundations and donor-advised funds to pay out funds to charity much faster than they currently do.

A RECKONING FOR THE CHARITABLE Sector

As inequality has grown in the United States, the nation’s charitable system is in danger of becoming a taxpayer-subsidized platform of private power for the ultra-wealthy. Already, the share of charitable deductions claimed by the very wealthiest households has risen steadily over the years.

Mega-philanthropists have intensified their influence over nonprofit giving with record-breaking splashes in the charitable world. The world’s richest men — Jeff Bezos, Elon Musk, and Bill Gates — have all made multi-billion-dollar contributions to their own foundations and donor-advised funds, reducing their taxes by millions of dollars with charitable tax breaks.

Meanwhile, the share of regular Americans who give has steadily continued to fall, driving down the number of households who give overall.

Together, these trends leave charities more dependent on the preferences of the extremely wealthy.

What’s more, many of those wealthy donors increasingly prefer to give either to foundations they control, or to intermediaries like donor-advised funds (DAFs), which have no legal requirements to pay out to real charities over any period of time.

On top of all of this, the nonprofit sector has had to cope with two years of global pandemic, four years under a new tax law that discourages charitable giving, and many years of growth in for-profit investment options that further erode the tax advantages charities offer.

If we continue on our current trajectory, an ever-greater share of charitable dollars will be diverted into wealth warehousing vehicles rather than going to nonprofits serving critical needs. Wealthy donors will increasingly be able to use their charitable giving to opt out of paying their fair share in taxes to support the public infrastructure we all rely on.

And they will increasingly be able to deploy philanthropy to advance their narrow self-interests. Without intervention, ultra-wealthy philanthropists will rival even state and local governments in their ability to shape public policy.

This usurps the public’s power to define what problems are, which ones get addressed, and what their solutions should be. But as taxpayers, we subsidize the tax deductions taken by wealthy donors—giving us both the right and the responsibility to oversee and fix it.

We must take immediate action to remedy this before the independent sector loses its independence. …##

 

The full IPS “GILDED GIVING 2022: How Wealth Inequality Distorts Philanthropy and Imperils Democracy” is linked here.

 

Additional Information with More MHProNews Analysis and Commentary

The IPS line above bears repeating: “We must take immediate action to remedy this before the independent sector loses its independence.”

It is also important to underscore that this is an organization of self-described progressives, talking about billionaires who are routinely progressive supporting. As will be reflected below, the Warren Buffett funded – and progressive NoVo Foundation – is a major source of funding for IPS. Those points noted, are objective thinkers to believe that IPS is biting the hands that feed it? Are the IPS’ coauthors of Gilded Giving 2022 really aiming to strip their own mega-donor sources accountable in a way that might end their own funding?  Given that IPS admits it is progressive, are they seriously hoping for policy changes on foundations that could upend a somewhat hidden to the public methods that routinely promote and fund progressive-leftist-Democratic beliefs?

To help answer such questions, consider manufactured housing linked attorney and retired businessman Marty Lavin’s version of the dictum previously cited above.

 

Then note from page 36-37 of the attached report for IPS’ proposed reforms of this system is the following.

F1. Establish a lifetime cap on charitable gift deductions. Currently, we allow unlimited tax reductions to donors who have private foundations. This means that, as Bill Gates Sr. pointed out to report co-author Chuck Collins, Gates’ son—Microsoft founder Bill Gates—will never pay taxes on the more than $100 billion he will donate to his tax-exempt foundation. A lifetime cap of $500 million would not discourage billionaires whose giving is genuinely motivated by generosity. But it would prevent donors from using charitable giving to reduce their taxes to zero indefinitely.

That bears consideration. That noted, several of the other IPS policy proposals on Gilded Giving 2022, could arguably benefit the moat-building billionaires and their corporate and “philanthro-feudalism” interests. Mirriam-Webster simply defines feudalism as: “a social system existing in medieval Europe in which people worked and fought for nobles who gave them protection and land in return.”

Philanthro-feudalism or philanthro-capitalism, is ‘private wealth seeking to advance the interests of donors’ in a feudalism like fashion.’ Left-leaning Wikipedia says: “the feudal system, was the combination of the legal, economic, military, and cultural customs that flourished in medieval Europe between the 9th and 15th centuries. Broadly defined, it was a way of structuring society around relationships that were derived from the holding of land in exchange for service or labour.” It is the very definition of wealth and power inequality. Yet, IPS’ coauthors fail to mention Philanthro-Feudalism?

Which raises the following observations on this IPS Gilded Giving 2022 report. An MS Word searches of the 47-page document reveals no results for the following searched words or phrases:

• philanthro-feudalism – no result.
• Antitrust – no result.
• Monopoly – no result.
• Moat – no result.

One of the obviously most potent tools to lawfully break up the concentration of wealth and power that became federal law in the later part of the 19th century is antitrust laws that aimed to break up monopoly power. Yet, IPS’ Gilded Giving 2022 fails to mention those key words or phrases in those four bullets above? Now, recall again the Danny Glover – who sits on the IPS board and has served a Buffett nonprofit board – quote shared previously.  It is ‘a monopoly of information – which includes such reports, media, tech, etc. And per Glove ‘a monopoly of money.’

Put differently, the case can be made that IPS’s co-authors Collins and Helen Flannery have engaged in what is arguably a lengthy example of paltering. IPS’ authors have made several factual and evidence-based points, but then in their recommendations failed to point out perhaps the most valuable solutions which already exist in state and federal laws.

Considering those notions, ponder the following points.

• IPS’s Gilded Giving 2022 usefully raised serious issues. Namely, the power and influence of foundations (and by implication, nonprofits more broadly) that de facto protect the wealth of the donors but allows that donated wealth to continue to work to grow their wealth and power in a tax sheltered fashion. That arguably ‘rigged system’ gives the wealthy an advantage that most retirees, working class, and middle-class Americans cannot access themselves.
• IPS’s coauthors have pointed to facts and evidence from well documented sources that they cited.
• IPS’ authors did the above without specifically noting how many of those billionaires IPS’ report prominently named are also billionaires that have often routinely backed progressive (i.e.: Democratic) candidates, who also support progressive policy promoting nonprofits.
• Ironically, once these four points of factually accurate insights are viewed as a filter and is applied to the information they have published, IPS’s researchers have effectively called Buffett, Gates, Bezos, Musk, and other such routinely progressive policy supporting billionaires as ‘threats to democracy.’

This pattern is amplified by mainstream media that routinely fail to note the nuances being documented in this report and analysis.

IPS have arguably made several useful points. But then they have failed to connect the dots between what they are warning against – a threat to democratic-republican institutions. By failing to connect-the-dots, a form of paltering is apparently used. For instance. As the MHProNews reference to NPR’s report cited in the notes under IPS graphic above said, the Zuckerberg contribution alone ‘saved’ the 2020 election for the Democratic candidate Joe Biden.

Against that backdrop, recall the recently published report by MHProNews that dives deeply into research by Democratic backing Dr. Robert Epstein, Ph.D. Note that the video below the linked report also cited Epstein and other research that buttressed that concern over the Google-Facebook duopoly influence over U.S. – and other – elections.

Exposed by Harvard Grad Dr Robert Epstein Interview on Google’s True Power, Massive Influence on Business, Public Policy, More – ‘The Creepy Line’ Deux Viewpoint for Affordable Manufactured Housing  

 

Per the YouTube page for the posted and acclaimed video: “The Creepy Line reveals the stunning degree to which society is manipulated by Google and Facebook and blows the lid off the remarkably subtle – hence powerful – manner in which they do it. Offering first-hand accounts, scientific experiments and detailed analysis, the film examines what is at risk when these tech titans have free reign to utilize the public’s most private and personal data.”

 

 

But by not making such factual and evidence-based point vividly, IPRs appear to be engaged in paltering or what the Capital Research Center (CRC) calls “Deception and Misdirection.” How so? Because IPS’s coauthors are apparently citing a significant body of accurate information but do so while failing to offer policy proposals available in existing laws – such as antitrust action – that could achieve the outcome they have revealed is harmful.

Ironically, CRC has recently published a report on 9.16.2022 that pulls back the veil on the IPS concern by looking at Zuckerberg’s influence over the 2020 election. Per CRC:

“States Banning or Restricting “Zuck Bucks”—UPDATED 09/16/2022

According to the IPS website, while they don’t take government money, “Our work is sustained by foundations and individuals. We also accept employee-directed contributions and donor-matching funds.”

Per CRC provided Influence Watch:

Major foundation funders of IPS include the Ford Foundation, which provided $1,950,000 from 2017-2021; the JPB Foundation, which provided $850,000 from 2017-2019; the NoVo Foundation, which provided $775,000 from 2017-2019; the Foundation to Promote Open Society, which provided $675,000 from 2018-2020; the Fidelity Investments Charitable Gift Fund, which provided $549,781 from 2017-2019; and the Wallace Global Fund, which provided $445,000 from 2017-2019. The Samuel Rubin Foundation also continues to provide modest support to IPS, granting $35,000 from 2017-2020. ^[324]

IPS makes a comparatively small number of grants each year.” Put differently, IPS themselves, per CRC, is hoarding their donations and spending it on their own so-called ‘progressive’ interests.

Then note that the NoVo Foundation, which is shown as a major donor to IPS, is funded by Warren Buffett, as MHProNews has noted previously. Buffett and Gates have had a strategic alliance for several years. Gates, for example, has a sizable stake in Berkshire Hathaway (BRK). Additionally, the Gates Foundation holds billions of dollars in Berkshire stocks. Among the reports on that are the two linked below.

‘F-Word’ – William ‘Bill’ Gates III Updates His-Warren Buffett’s Multi-Billion Dollar Plans, Gates Talks Buffett More in Own Words, Philanthro-Capitalism; plus, Manufactured Home Stock Update

VipulNaik.com website noted that: “Brief history: The Gates Foundation launched in 2000, with precursors starting in the 1990s, financed by the personal wealth of co-founder Bill Gates from Microsoft. Starting 2005, it scaled up its giving significantly after a large funding commitment from Warren Buffett.”

CRC’s Hayden Ludwig said on 5.12.2022 the following.

In 2020 alone, six networks raked in a stunning $3.7 billion in “dark money,” funds used largely for political activism whose donors are difficult—if not impossible—to trace. Some of these networks are familiar to those who follow the money, such as the Tides Foundation.

Others, like the nonprofit empire commanded by the consulting firm Arabella Advisors, were exposed as the face of left-wing “dark money” during Justice Ketanji Jackson’s recent Supreme Court confirmation hearings.

Still others are effectively unknown except to the professional activists they fund. Yet their existence is proof that the Left thrives on hidden money and secret donors, many of whom share the same last name: Foundation.”

Note that while foundations and nonprofits have obvious differences, both are nonprofits that enjoy special tax advantages under federal law. The case can be made that billionaires, like Buffett and Gates, make use of foundations and other types of nonprofits too. One example of a Buffett-connected nonprofit that influences policy and reporting is the Urban Institute, which has weighed in on manufactured housing and a range of other issues too.

Buffett backed nonprofits have also influenced manufactured housing connected policies. See the report linked below.

Such facts would surely not be lost on IPS leaders or their top authors.

Therefore, the case can be made that:

1. Gilded Giving 2022 report has numbers of useful and factually accurate insights.
2. But IPS is also beholden to some of the same people and groups that they claim to be exposing.
3. There recommendations are arguably not the best tools to accomplish the goal of correcting the concerns IPS’ coauthors claim.
4. If so, that goes to the CRC theme of “deception and misdirection” and the use of paltering.

Warren’s Son Peter Buffett

With that backdrop, the following previously linked reports and quotable quotes are revealing. Buffett’s son Peter and his Jennifer are the top officials at the NoVo Foundation. Per the USC “Center on Philanthropy and Public Policy” said that “Jennifer and Peter Buffett” are the “Founders and Co-Chairs of the NoVo Foundation…”

What emerges in several respects is a hypocritical circle fest. Leftists are often praising other leftists. At times, leftists’ like IPS critique leftist billionaires, but apparently while accepting money from those same billionaires, their corporate, nonprofit, or foundation interests. The problems connected with those progressive (leftist) nonprofits critiquing leftist billionaires may be accurate, but the policy proposals to ‘solve’ that problem – as the above illustrated – may largely miss the mark.

It recalls the call by Nick Hanauer, who via progressive oriented Politico urged his fellow billionaires to avoid the pitchforks. How are the pitchforks avoided? Apparently, by giving money to ‘causes’ that support the causes and maintains the power of those same billionaires. Who says so? Peter Buffett. So too did featured personalities in the award-winning documentary drama, Poverty Inc., among others.

Meanwhile, per IPS, the share of Americans who aren’t wealthy give has steadily continued to fall, driving down the number of households who give overall. Restated, the rich gain more power, and more influence.  Which calls to mind this from Buffett and Munger in July 2021. Those remarks point to the very power that IPS’s Gilded Giving 2022 warns against.

 

 

Recall that per NPR, that Bill Turner was the acting director of voter services in Chester County, Pa. Left-leaning NPR quoted him saying: “Honestly, I don’t know what we would have done without it…” The “it” was the donation from the Center for Tech Life supported by hundreds of millions of dollars in donations from Zuckerberg. Ironic? Hypocritical?

Per IPS’ Guilded Giving 2022 is the following.

Together, these trends leave charities more dependent on the preferences of the extremely wealthy.

What’s more, many of those wealthy donors increasingly prefer to give either to foundations they control, or to intermediaries like donor-advised funds (DAFs), which have no legal requirements to pay out to real charities over any period of time.

On top of all of this, the nonprofit sector has had to cope with two years of global pandemic, four years under a new tax law that discourages charitable giving, and many years of growth in for-profit investment options that further erode the tax advantages charities offer.

If we continue on our current trajectory, an ever-greater share of charitable dollars will be diverted into wealth warehousing vehicles rather than going to nonprofits serving critical needs. Wealthy donors will increasingly be able to use their charitable giving to opt out of paying their fair share in taxes to support the public infrastructure we all rely on.

And they will increasingly be able to deploy philanthropy to advance their narrow self-interests. Without intervention, ultra-wealthy philanthropists will rival even state and local governments in their ability to shape public policy.

This usurps the public’s power to define what problems are, which ones get addressed, and what their solutions should be. But as taxpayers, we subsidize the tax deductions taken by wealthy donors—giving us both the right and the responsibility to oversee and fix it.

We must take immediate action to remedy this before the independent sector loses its independence. ”

Here is part of the interview by Laura Flanders of Peter Buffett on the “charitable industrial complex” which is another term for philanthro-feudalism or philanthro-capitalism.

The upcoming midterms offers one possible path to break this cycle. But so too does vigorous antitrust action. See the linked reports to learn more.

Understanding Crony Corporate, Paltering Media, Washington D.C. Reality Check with B.S. Decoder Ring – Sunday Satire on National, Affordable Housing Issues, with Weekly MHVille Headlines Review

‘Sprawling Federal Censorship’ New Civil Liberties Alliance Lawsuit Revelations ‘Shock Americans,’ State Attorneys General Involved in Legal Battle v Corrupt Feds; plus MHVille Market Updates

Exposed by Harvard Grad Dr Robert Epstein Interview on Google’s True Power, Massive Influence on Business, Public Policy, More – ‘The Creepy Line’ Deux Viewpoint for Affordable Manufactured Housing  

‘Tail Wagging Dog’ ‘Three Fingers Pointing Back’ ‘Deranged, Power-Mad Sociopaths’ – Psychology Today, David Kupelian, Chris Plante Vexing Insights on Key Issues; plus MH REITs, Stocks Update

Who Profits? Foreign Affairs, RespStatecraft – Why Did U.S.-U.K. End Peace Deal by Russia-Ukraine? Dirty Corp-Govt Secrets of War, Lessons to MHVille, All Americans; plus Sunday Headlines Recap

‘Biden Administration has Obviously Taken Small Business Owners and the American People for a Ride’ JCN’s Alfredo Ortiz, ‘Hey Joe,’ ‘Stop Lying;’ plus Manufactured Home REITs, Stocks Update    

Homebuilder Index Falls 9th Straight Month, Manufactured Housing Problems and/or Opportunities Ahead – plus MHVille REITs, Stocks Update

MHI Insider Declines Comment-Evolving Cavco Industries-MHI Connected Contradictions, New and Settled Legal Claims Against Cavco Industries and Leaders Analyzed; Manufactured Housing Updates

 

Daily Business News on MHProNews Markets Segment

NOTICE: Based on feedback, a modification of our Daily Business News on MHProNews recap of yesterday evening’s market report is provided. It will still include our left (CNN Business) and right (Newsmax) ‘market moving’ headlines. The macro market moves graphics will provide context and comparisons for those invested in or tracking manufactured housing connected equities.

Reminder: several of the graphics on MHProNews can be opened into a larger size. Click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the escape or back key to return.

 

Headlines from left-of-center CNN Business – from the evening of 9.20.2022

• Ominous signs
• DULLES, VA – MAY 25: Pallets of baby formula are unloaded from a FedEx cargo plane upon arrival at Dulles International Airport on May 25, 2022 in Dulles, Virginia. More than 100 pallets of infant formula traveled from Ramstein Air Base in Germany to Washington Dulles International Airport. The mission is being executed to address an infant formula shortage caused by the closure of the largest U.S. formula manufacturing plant due to safety and contamination issues.
• FedEx isn’t the only company sounding the recession alarm bell. Plenty of others are worried
• Inflation is stubbornly high. Here’s what this bank exec suggests you do

• 

  Good news: Railroads are not on strike. Bad news: The service is terrible

• Stocks sink as investors wait for the Fed’s rate hike
• GOP attorneys general threaten Visa, American Express and MasterCard over gun-store code
• Beyond Meat executive arrested on suspicion of biting a man’s nose
• Gap is laying off 500 corporate employees as challenges mount
• FTC probes Amazon’s $1.7 billion acquisition of Roomba maker iRobot
• A nearly 15-year-old Illinois law is forcing tech companies to pay millions
• Apple to fix bug that makes iPhone 14 Pro camera shake uncontrollably
• Honda overpaid their workers in bonuses and now they want it back
• A customer uses a credit card terminal to complete a purchase at a Wal-Mart Stores Inc. location in Burbank, California, U.S., on Thursday, Nov. 16, 2017. Black Friday, the day after Thanksgiving, marks the traditional start to the U.S. holiday shopping season.
• Walmart and Target push to lower credit card fees
• A view of the exterior of The Morgan Stanley Headquarters at 1585 Broadway in Times Square in New York City, July, 2021.
• Morgan Stanley hard drives holding sensitive client data got auctioned off online
• Toronto, Canada – February 10, 2019: Peloton store in the mall in Toronto, Canada. Peloton is a New York City based exercise equipment and media company.
• Time for someone else to ride the Peloton bike?
• MARKETS
• CURIOUS CONSUMER
• The USDA has approved a genetically modified purple tomato that boosts health benefits and a greater shelf life than standard red tomatoes.
• A purple tomato may hit the grocery market stands
• Why it’s time to start paying with $2 bills
• Why Wegmans ended its self-checkout app
• This neighborhood can’t buy stamps. Here’s why
• Coca-Cola won’t tell you what’s in its new weird flavors
• TECH
• PRODUCTION – 11 July 2022, Baden-Wuerttemberg, Stuttgart: ILLUSTRATION – A teenager taps the TikTok logo on a smartphone.
• Report: TikTok’s search engine delivers misinformation
• The 40-year evolution from 🙂 to 😂
• The biggest change to iPhones isn’t the hardware
• See the new edit and unsend options for iMessage
• Why it’s hard to delete stuff from the internet
• SUCCESS
• New homes under construction in Arcola, Texas, US, on Tuesday, July 12, 2022. In an American housing market that for years has been plagued by too little inventory, builders are suddenly finding themselves with a glut of unsold homes.
• New home building picked up last month, but builder sentiment remains low
• MIAMI, FLORIDA – MAY 10: In an aerial view, single family homes are shown in a residential neighborhood on May 10, 2022 in Miami, Florida. New published data has hinted at improvement in the supply of homes for sale as April’s numbers show inventory down 12 percent from the same month last year, the smallests yearly decline since the end of 2019.
• Mortgage rates top 6% for the first time since 2008

• 

  Arlington, MA – July 19: Single family homes on Colonial Drive in Arlington, where the single family home remains king, despite efforts to allow for the construction of more multi-unit dwellings, resulting in home prices soaring. Nearly 80 percent of zoning for residential homes in the area is for single family homes only.

• Mortgage rates reach highest level since 2008
• Workers enter Citigroup headquarters in New York, US, on Thursday, Aug. 4, 2022.
• Summer is over. And the battle to get workers back to the office is heating up

 

Headlines from right-of-center Newsmax 9.20.2022

• Trump Team Urges Appeals Court to Nix DOJ Bid to Keep Reviewing Seized Docs
• Former President Donald Trump takes the stage to speak at a campaign rally in Youngstown, Ohio., Saturday.
• Lawyers for former President Donald Trump urged a federal appeals court to reject the Justice Department’s request for a partial stay of a ruling that effectively has paused the government’s probe into the alleged mishandling of classified documents. [Full Story]
• Newsmax TV
• Ric Grenell: 2nd-Day UN Slot Shows Biden Weak on World Stage | video
• Mark Morgan to Newsmax: ‘Preposterous’ to Blame Border on Trump | video
• Tim Burchett: Fentanyl ‘a Weapon of Mass Destruction’ | video
• Comer: Dems Should Support Hunter Biden Inquiry ‘If He’s Innocent’ | video
• Meuser: Dems Hypocrites on Martha’s Vineyard Migrant Flight | video
• Cammack: ‘Trafficker-in-Chief’ Biden Aiding Border Cartels | video
• Newsfront
• 80 Percent of Voters Say National Security Important Issue for Midterms: Survey

• 

  With the ongoing Russia-Ukraine war and threats from China and cybersecurity, a large majority of voters (80%) think national security will be an important issue in this year’s midterms…. [Full Story]

• Turkey’s Erdogan: Putin Wants to End Ukraine War ASAP
• Turkish President Recep Tayyip Erdogan said Russian President [Full Story]
• Jimmy Kimmel Signs 3-yr Extension for ABC Late-Night Show
• Jimmy Kimmel celebrated his 20th anniversary as ABC’s late-night host [Full Story]
• DeSantis Says He ‘Can’t’ Confirm Reports of Migrant Plane to Delaware
• Florida Gov. Ron DeSantis wouldn’t confirm Tuesday that he’s planning [Full Story]
• Trump to Newsmax: DOJ Leaders ‘Weaponized’ Department, FBI
• Justice Department leadership has “weaponized” the DOJ and the FBI [Full Story]
• Related
• Trump to Newsmax: Germany Wouldn’t Heed UN Speech Warning on Energy |video
• Trump to Newsmax: Would Talk to Putin About Ukraine War |video
• Trump to Newsmax: ‘We Had the Safest Border’ Before Biden |video
• Biden Caught in ‘Catch-22’ After Declaring Pandemic ‘Over’
• President Joe Biden declared the pandemic “over” during an interview [Full Story] | Platinum Article
• Trump Responds to DOJ’s Special Master Appeal
• Lawyers for former President Donald Trump urged a federal appeals [Full Story]
• COVID-19 Will Remain a Leading Cause of Death in the US
• President Biden said that the pandemic was over during an interview [Full Story]
• Manchin Alleges ‘Political Revenge’ For Energy Permitting Bill Opposition
• Joe Manchin said Tuesday that a form of “political revenge” is [Full Story]
• Dick Morris’ ‘The Return’ Hits WSJ Bestseller List, But NY Times Censors Book
• Newsmax host Dick Morris “The Return: Trump’s Big 2024 Comeback” [Full Story]
• Dow Falls 465 Points Ahead of Key Fed Rate Hike
• Stocks fell broadly in afternoon trading on Wall Street Tuesday ahead [Full Story]
• Ukraine, Using Captured Russian Tanks, Firms Up Its Lines
• Ukraine is now deploying captured Russian tanks to solidify its gains [Full Story]
• Related
• Ukraine’s Separatist Regions to Vote on Joining Russia
• Russian Lawmakers Toughen Punishment for Soldiers
• ‘We Have Nothing’: Izium’s Trauma after Russian Occupation
• Britain’s Truss Doesn’t Expect UK-US Trade Deal Anytime Soon
• Prime Minister Liz Truss has kicked off her first visit to the United [Full Story]
• Twitter’s ‘Chinese Spy’ Revelation Shows Dangers of White House-Big Tech Alliance
• The breathtaking revelation that a Chinese intelligence officer [Full Story] | Platinum Article
• World’s Millionaires to Grow 40 Percent to 87.5M: Credit Suisse
• The number of people with a net worth of $1 million or more will [Full Story]
• Feds: Minnesota Food Scheme Stole $250M; 47 People Charged
• Federal authorities charged 47 people in Minnesota with conspiracy [Full Story]
• DNC Campaign Focusing on Getting Out the Youth Vote
• The Democratic National Committee (DNC) is kicking off a six-figure [Full Story]
• Video Report: Venezuelan Migrant Border Crossings Soar in August
• Venezuelan migrants have passed Guatemalans and Hondurans to become [Full Story] | video
• Video Report: EU Looks to Cut Funding to Hungary
• The European Union is looking to cut funding to Hungary due to Prime [Full Story] | video
• Tehran ‘Morality Police’ Chief Reportedly Suspended After Woman’s Death
• The Tehran, Iran, “morality police” chief reportedly was suspended [Full Story] | video
• Jordan Chides FBI For ‘Reclassifying’ Cases to Expand Narrative
• In a Tuesday letter to Federal Bureau of Investigation Director [Full Story]
• Republicans Lead in Most Georgia Races: AJC Poll
• Republican Herschel Walker and Democrat Sen. Raphael Warnock are [Full Story]
• Golden Globes to Return to NBC
• After a year spent off-air, the Golden Globe Awards are returning to [Full Story]
• NYC Mayor Adams Might Send Migrants to Cruise Ship
• NYC Mayor Adams Might Send Migrants to Cruise Ship
• After Martha’s Vineyard was proven unfit for illegal migrants, New [Full Story]
• Ted Cruz to Campaign Across Country for GOP Candidates
• Ted Cruz, R-Texas, will soon travel to more than a dozen states [Full Story]
• Credit Card Companies Asked to Abandon Firearms Merchant Code
• Republican state attorneys general are warning major credit card [Full Story]
• Report: Justice Dept. Failed to Adequately Count Jail Deaths in US
• At least 990 deaths in state prisons and local jails went uncounted [Full Story]
• Judge Blocks Upcoming Lethal Injection in Alabama
• A federal judge on Monday blocked Alabama from executing an inmate [Full Story]
• NYC Vax Mandate for Private Employers Ends Nov. 1
• New York City will lift its COVID-19 vaccine mandate for private [Full Story]
• BlackRock Accused of Pushing ‘Radical Agenda’
• BlackRock Investment Management Company pushes a radical agenda, and [Full Story]
• Kentucky School Shooter Seeks Parole in High-Stakes Hearing
• A Kentucky man who killed three students and wounded five more in a [Full Story]
• Finance
• GM, Hertz to Deploy up to 175,000 EVs
• Rental car company Hertz Global Holdings plans to order up to 175,000 General Motors Co. electric vehicles over the next five years, its latest move toward zero-emission models…. [Full Story]
• Nvidia Unveils New Gaming Chip With AI
• Morgan Stanley Fined $35M for Not Protecting Personal Data
• Viewers Flock to Amazon’s Thursday Night Football
• Compass to Cut More Jobs
• More Finance
• Health
• Drinking Tea Daily Linked to Reduced Risk for Diabetes
• Now might be a good time to brew another cup of tea. Researchers studying the impact of tea found that drinking four or more cups of black, green, or oolong tea every day was linked to a 17% lower risk of developing Type 2 diabetes over the course of a decade. “Our results are… [Full Story]
• Adults With ADHD at Higher Risk for Heart Disease
• Simple Breathing Technique Eases Anxiety and Helps You Sleep
• New Drug Eases Severe Eczema in Young Kids
• Heart Patients Who Use CPAP 60 Percent Less Likely to Be Readmitted to Hospital

===================================

• NOTE 1: The 3rd chart above includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
• NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
• NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm.  Thus, there is still periodic activity on DVLY.
• Note 4: some recent or related reports to the equities named above follow.

 

Triad Financial Services Q2-2022 FINANCIAL RESULTS, per ECN Capital – Several Bright Spots in Manufactured Home Market Highlighted, Including Communities, Retail, Land-Home, Floor; MHStocks Update

‘Blackrock Weaponizing ESG’– State AGs Probe MHCommunities Owner, Private Equity Giant Blackrock on Possible Antitrust, Securities, Fiduciary Violations, See AGs’ Document; plus MHStocks Update

Cavco Quarterly Results, Facts, and Trends Include SEC Suit Update, Manufactured Home Production Volumes, Financial Figures, Corporate Data and Manufactured Housing Analysis

Manufactured Home Communities (a.k.a. ‘Mobile Home Parks’ – SIC) – Exploring UMH Properties; Fellow Manufactured Housing Institute Member Yes! Communities Suits and Settlements; plus MH Markets Updates

 

2022 …Berkshire Hathaway is the parent company to Clayton Homes, 21^st 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.

Disclosure. MHProNews holds no positions in the stocks in this report.

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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 MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and also recognition 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.

 

 

 

 

 

 

 

As Conventional Housing Slides, Manufactured Housing Sales Continue Mo – State-by-State and National Data June 2022 – Facts, Forecast, and Analysis; plus MHVille REITs, Stock Market Update

Factual and Viewpoint Insights from August 2022 in MHVille Manufactured Housing Pros, Public Officials, Investors, and Curious People Seeking Affordable Manufactured Home Knowledge and Trends