Thus far, Cavco Industries contacts that have been asked about this new notice have been mute.
The subject? An 8K notice published about Joseph H. Stegmayer, Cavco Industries former chairman, president and CEO and also the prior chairman of the Manufactured Housing Institute. It is news no one else in mainstream or finance media has yet covered, much less among MHVille trade writers. So this will be another first about Cavco (CVCO) found here. That news will be our featured focus tonights.
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.
Newsy, Peeling Back Media Bias, Manufactured Housing Sales, Investing, Politics, and You
Headlines from left-of-center CNN Business.
- Fighting for fairness – Abigail Disney backs California bill to raise corporate taxes and curb CEO pay
- Citigroup’s female employees earn 27% less than men
- Sprint and T-Mobile make a final argument for why their massive merger should be allowed to go through
- American politics are the biggest threat facing the world in 2020, experts say
- LIVE UPDATES Dow closes above 29,000 points for first time in history
- Larry Ellison has made $1.6 billion on his Tesla stock since joining its board
- WW gets a New Year’s bump, but should investors ditch the stock?
- Jeff Bezos is in India. Amazon has a ton on the line
- Elon Musk is closing in on a $350 million payday
- Final debate before Iowa caucuses scores 7.8 million viewers
- ‘Star Wars: The Rise of Skywalker’ becomes Disney’s seventh billion-dollar film of 2019
- How to pay for private school
- Colgate launches ‘industry-first’ recyclable toothpaste tube
- Congress investigates lifting some cannabis restrictions
- Target’s holiday season was a letdown. Costco’s wasn’t
- A world trade war is brewing. The US-China deal won’t stop it
- There’s a new obstacle to landing a job after college: getting approved by AI
- The best skills to have on your resume
- 5 things to know before a job interview
- The best questions to ask in a job interview
- How to negotiate a counter offer
- 2021 GMC Yukon XL Denali
- GM unveils its latest weapon in the SUV wars: The new GMC Yukon
- Aston Martin unveils a $190,000 SUV
- Ford takes aim at Tesla with electric Mustang SUV
- See the first SUV with the Mustang name
- Land Rover unveils all new version of its iconic Defender
Headlines from right-of-center Fox Business.
- Mike Pence: Trump’s moves on trade, taxes ‘putting Americans back to work’
- “Before the end of this week, we’ll see the United States Senate approved the largest trade deal in American history,” Vice President Mike Pence said of the United States-Mexico-Canada Agreement (USMCA).
- White House economist previews ‘Tax Cuts 2.0,’ reveals areas of focus
- ‘Doesn’t get any bigger’: US, China sign historic ‘phase one’ trade deal
- READ: Full text of the US-China ‘phase one’ trade agreement
- Opinion: Trade deal is result of Trump’s negotiator-in-chief courage
- Stormy Daniels’ drummer husband working at Chili’s while she tours clubs: report
- Judge orders ex-Daniels lawyer Michael Avenatti to remain locked up
- Varney: Pelosi trying to ‘upstage’ Trump’s trade deal spectacularly backfires
- Famous author slammed for diversity comments about Oscar nominations
- 10 best countries in the world, ranked
- Dozens of popular radio hosts axed across US in iHeartRadio ‘bloodbath’
- Flu-shot maker sees stock shoot upward on FDA move
- Jeffrey Epstein allegedly trafficking, abusing girls in recent past
- Drinking in US spikes to 30-year high as parents reach for their ‘mommy juice’
- NFL star, 28, hangs up his cleats — and walks away from massive fortune
- Facebook users: Lack of nudes killing business
- West Point cadet uses GoFundMe to hire ‘dream’ porn star for banquet date
- TV shows you’ll be able to binge on NBC’s upcoming streaming service
- Web security firm offering political campaigns free services
- OPEC lowers demand forecast as US supply expectations soar
- College football championship hero says NFL star gave him cash after win
- Iran’s top diplomat acknowledges Iranians ‘were lied to’ for days
- Trump’s China dream team: The staffers and advisers key to ‘landmark agreement’
- China will ‘certainly’ honor phase one trade promises, Blackstone’s Schwarzman says
- Fed’s Beige Book previews economic outlook for 2020
- Apple snaps up Spike Jonze’s Beastie Boys doc for TV+ service
- NEW RECORDS: Dow closes above 29,000 level for first time as S&P soars to fresh high
- All-Elite Wrestling, WarnerMedia extend TV deal, add new show
- Build-A-Yoda: Families will soon be able to make their own ‘Star Wars’ character
- Buyers beware: The most popular reasons why real estate transactions crumble
- Rich and famous flock to workwear, pushing blue-collar brand into spotlight
- Frustrated franchisees demanding legislation to clarify gig worker law
- WATCH: Markets looking past US-China ‘phase one’ trade agreement, Gasparino reports
- Rock and Roll Hall of Fame class features legends, harsh snubs
- What Beijing has agreed to buy as part of ‘phase one’ trade deal
- Rolling the dice: National Lacrosse League scores sports betting deal with MGM
- Veggie-based McDonald’s sandwich would give Beyond Meat massive boost
- Cost-of-living raises on the chopping block for this state’s retirees
- Democrats preview how they plan to counter Trump’s economy during campaign
- $1B California energy scam: 4th person pleads guilty
- Transcript reveals frightening moments before Delta pilot dumped fuel on playground
- Michael Avenatti, Stormy Daniels’ ex-attorney, arrested in courtroom
- Indiana’s oldest state employee retires: ‘Your body tells you when it’s time to go’
- No good deed: NFL star’s holiday Walmart donation ‘mishandled,’ company admits
- Meghan Markle’s father may testify against her in court battle
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- Trump after signing US-China trade deal: This is a day nobody thought would happen
- Bloomberg spends Democrats’ debate night in a truly bizarre way on Twitter
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Meet
The SEC’s media relations office rapidly and politely declined comment beyond what was already published, which will be shown below.
From the SECURITIES AND EXCHANGE COMMISSION (SEC) on January 13, 2020. Scroll down to 8.01.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 13, 2020
CAVCO INDUSTRIES INC.
(Exact name of registrant as specified in its charter)
Delaware
000-08822
56-2405642
| (State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
|||
| 3636 North Central Avenue, Suite 1200 | ||||
| Phoenix | Arizona | 85012 | ||
| (Address of principal executive offices, including zip code) | ||||
Registrant’s telephone number, including area code: (602) 256-6263
Not applicable
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Item 8.01. | Other Events |
On January 6, 2020, Joseph H. Stegmayer, former Chairman of the Board of Directors, President, and Chief Executive Officer of Cavco Industries, Inc. (the “Company”) provided notice that he will retire effective January 31, 2020. During his years leading the company, Mr. Stegmayer oversaw a period of significant growth and shareholder value creation. During that time, the Company grew from a 3-plant manufacturer in the Southwest to 20 plants spread across the U.S, a substantial retail operation, a mortgage lending operation and an insurance operation. Since his previously-announced transition in November 2018, Mr. Stegmayer has been supporting the company’s new leadership while in the role of Director, Strategic Initiatives.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CAVCO INDUSTRIES, INC. | |
| By: | /s/ Mickey R. Dragash |
| Mickey R. Dragash | |
| Executive Vice President, General Counsel, Corporate Secretary & Chief Compliance Officer | |
| Date: | January 13, 2020 |
##
As the recent news headlines reflect, there is not yet any formal announcement on this from Cavco Industries.
Cavco’s media relations and investor relations won’t comment yet either, which only fuels the speculation. What is there to hold back now?
MHProNews will track this developing issue, which should be viewed through the lens of the drama of the last 15 months at CVCO.
This should also be pondered through the lens of recent events and revelations about MHI, Cavco and the ‘big boys’ in the industry. See the related reports further below.
Related Reports:
Then there is the runaway #1 trade media report in all of MHVille in January, 2020
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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Winter 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.
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Disclosure. MHProNews holds no positions in the stocks in this report.
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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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