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News
RVDA Modifies Strategic Plan to Move Dealers into the 21st
Century
The RVDA board of directors, staff, and invited guests
conducted its third facilitated strategic planning effort in four
years at its March board meetings held in Florida. The results
of that effort produced a strategic plan with a new focus that
deals with dealer education and professionalism, market
expansion through industry cooperation, legislative protection,
and membership.
The vision the RVDA board developed: "RVDA is a dynamic
leader in transforming our industry into an inter related and
unified culture. Our professional members make a
substantive contribution to the quality of life of all
stakeholders - the community, customers, employees, and
dealer principals. RV consumers enjoy reliable products in
attractive surroundings, serviced by a unified network of
dealers who support the enjoyable and hassle free use of their
products. Dealerships are desirable places in which to do
business. All RV dealers/retailers want to be RVDA members
because, regardless of size or volume, they see substantial
benefit from Association education programs, products, and
services. Our effective representation positively influences
legislation affecting RVDA members. We continue to grow our
industry with aggressive RV market expansion programs."
RVDA President Mike Molino said, "This plan is designed
to involve more people than ever before in the work of the
association. There are provisions to involve state and local
associations, as well as ensuring representation by dealers of
all types and sizes."
Tom Stinnett, RVDA chairman, said, "It is time to put into
policy what has, in many instances, already been the practice
for a few years. The board will delegate more of the
association's business operations to its staff. By doing this,
the board is also making it clear that it will hold the president
accountable for those new responsibilities."
RVIA Signs Arbitration Pact with
Two Chassis Makers
RVIA and General Motors Corp. have signed an agreement
to establish a mandatory arbitration process to resolve certain
retail buyer complaints involving motorhomes and conversion
vehicles built on Chevrolet and GMC chassis.
Freightliner Chassis Corp., a motorhome chassis
manufacturer, has also signed an arbitration agreement with
RVIA. The arbitration agreements are in the process of being
executed by individual RVIA member motorhome and
conversion vehicle manufacturers.
RVIA president David J. Humphreys said, "The RV
industry has an excellent track record of handling consumer
product complaints and these arbitration agreements are more
good news for RV and conversion vehicle buyers. Through this
agreement, RVIA manufacturer members, GM and Freightliner
have demonstrated their commitment to total customer
satisfaction."
Ken Tough, manager of service legislation and regulatory
affairs for GM's North American Service Operations, said,
"This process will establish a much closer working
relationship between GM and the RV industry. All the parties
involved will benefit by keeping customers happy, which will
generate repeat sales." Although product disputes between RV
manufacturers and chassis manufacturers are infrequent, the
arbitration process will help resolve consumer complaints
more efficiently and effectively. Consumers cannot initiate the
arbitration process.
Arbitration provides an incentive to both RVIA
manufacturer members and chassis manufacturers to settle
legitimate product claims quickly.
Wes Abraham, warranty supervisor for Freightliner, said,
"We stand behind our products and we think this agreement
will be one more way we can better serve our customers."
Under terms of the arbitration agreement, if an RVIA
manufacturer member and the chassis manufacturer cannot
resolve a retail buyer complaint covered by a state lemon law,
the chassis manufacturer, motorhome manufacturer or
conversion vehicle manufacturer may invoke the arbitration
process.
Although the arbitration process does not include
consumers, the existence of the agreement should encourage
RV and chassis manufacturers to promptly settle legitimate
consumer complaints to preserve customer goodwill.
The RV, conversion vehicle or chassis manufacturer can
repurchase a vehicle from a consumer with the knowledge that
it can quickly seek complete or partial reimbursement from
the other manufacturer through an informal and economical
arbitration process. RVIA and Chevrolet pioneered this
process by signing a voluntary arbitration agreement in 1992.
The agreement was renewed in 1994.
Excel Industries Completes Purchase of Anderson Industries,
Inc. (Atwood)
Excel Industries, Inc. (NYSE:EXC) said it completed the
previously disclosed purchase of all outstanding common
shares of Anderson Industries, Inc., a Rockford IL holding
company whose main asset is Atwood Industries, Inc., an
automotive and RV OEM supplier.
The total purchase price was approximately $61,000,000
in cash including five-year warrants for 381,000 shares of
Excel common stock exercisable at $13.25 per share and
expenses of the transaction. Excel also assumed
approximately $85 million of Anderson Industries debt.
James 0. Futterknecht, Jr., chief executive of Excel, said
that Atwood Industries provides a major growth increment to
Excel while improving customer balance and extending the
company's marketing reach. "This acquisition moves Excel
close to the size we had envisioned for the company in 2001,"
Futterknecht said. "It increases automotive business by a
third and nearly doubles our plastic products business. In
addition, it carves out a much bigger supply role in the
recreational vehicle business."
In 1995, Atwood had sales of about $400 million with
automotive markets contributing about half. Mobile products
for RV and other non-automotive vehicles accounted for more
than a third of sales, and plastic products the remainder.
"As with all our acquisitions, we have begun a period of
`Excelizing' Atwood's operations that will emphasize the
continuous improvement philosophy needed in full-service
supply," Futterknecht said. "We will absorb the automotive
business into our automotive SBU and merge the Mark I
plastics business into our plastic products SBU. The mobile
products business will stand alone as a separate SBU."
Over 200 Candidates Participate in National Test Day for RV
Technician Certification
The written exam part of the RVIA/RVDA Certified RV
Technician Program was administered in 16 cities on March
16, 1996. Over 200 candidates attended the classes held in:
Boston; Tampa; Harrisburg, PA; Bowling Green, KY; Kansas
City; St. Paul, MN; Columbus, OH; Little Rock, AR; Peoria, IL;
Lansing, MI; Elkhart, IN; Sacramento; Eugene, OR; Walnut,
CA; Mesa, AZ; and Kirkland, WA. Certification
standards were developed by RV industry technical experts
and working RV technicians under the supervision of
education testing professionals from the Michigan -based
National Occupational Compe-tency Testing Institute (NOCTI).
During National Test Day, RV technicians took part in only
the written part of the exam, which covered basic knowledge of
electricity and LPgas, troubleshooting procedures and
component part repair and replacement. Those who pass the
written test will take the performance examination at one of
the nine National RV Technical Institute Schools (NRVTI)
located across the country or at one of four regularly
scheduled Trouble Shooter Clinics sponsored by RVIA. Based
on demand, special performance examination may be
conducted in geographical areas not served by an NRVTI.
The Certified RV technician Program is administered by
RVDA/ RVIA Certification Governing Board. It is designed to
make the nation's nine million RV owners even more satisfied
with their motorhome, travel trailer or truck camper by
creating a network of qualified, professional RV technicians
across the country. Since the inception of the program in
1993, more than 200 technicians have qualified to become
Certified RV Technicians.
RV/MH Heritage Foundation Announces Benefit Raffle Winners
One-hundred winners of the RV/MH Heritage Foundation
benefit raffle were drawn in a public ceremony on March 15, at
the foundation offices in Elkhart, IN.
First prize, a $100,000 motorhome or $75,000 cash, was
won by John Gesto, Osceola, IN. Second prize, $17,500 or a
converted van, was won by Peter Hertel, Sacramento, CA, and
third prize, $5000, was won by Anne Vandergalien, Randolph,
WI. A total of 100 winners shared in prizes valued at over
$140,000.
The second annual national benefit raffle supports the
operations of the RV/MH Heritage Foundation which maintains
the RV/MH Hall of Fame, museum, and library in Elkhart, IN.
The Hall of Fame and museum are open to the public from
9:00 to 5:00 weekdays throughout the year.
The Hall of Fame has honored 164 pioneers of the RV and
Manufactured Housing industry to date, and the museum
displays antique trailers and memorabilia of the industries.
Fleetwood's Coleman' Folding Trailers Show Sharp Increase in
Sales in December
Fleetwood Folding Trailers, a division of Fleetwood
Enterprises, posted a 16.9% increase in retail registrations of
the Coleman by Fleetwood brand in December 1996 compared
to the same period in 1995, according to Statistical Surveys.
The folding trailer industry as a whole posted an 11.6%
increase.
Coleman folding trailer market share jumped 1.4% over
1995 to 31.2%. The Coleman Grand Tour series remains the
#1 selling folding trailer in the nation with 1,720 units sold
year-to-date through December 1995, out-pacing the nearest
competitor by 775 units.
RVIA Board Approves Rate Hike for Exhibit Space at Louisville
Show
RVIA's board of directors approved a three percent
increase in exhibit space rates for the 1996 National RV Trade
Show in Louisville. The new rates reflect the board's intent to
institute small increases in years where the industry performs
well so that show rate increases won't be necessary in off
years. The board kept exhibitor rates for the 1996 RV
Manufacturers Show in Pomona at 1995 levels.
In other actions, the board:
*Agreed to sign a three-year lease running through 1999
with Fairplex in Pomona for the RV Manufacturers Show.
*Approved a $45,000 increase for a total retail advertising
budget of $375,000 for the Pomona show. The additional
funding will be used for more TV and radio advertising to
promote the show.
*Approved a Standards Steering Committee
recommendation that RVIA institute a higher level of activity
regarding Environmental Protec-tion Agency (EPA) and
California Air Resources Board (CARB) rules and proposals
and their effects on RVs.
*Authorized RVIA staff to monitor the potential market for
RV sales in Asia.
*Agreed to implement a new standards inspection policy
that will enable RVIA to immediately respond to manufacturer
members who do not affix RVIA seals to units.
RVDA's Molino Offers Advice on Market Expansion Direction
In his column in RVDA's newsletter, RV Executive, RVDA
president Mike Molino said, "As important as the new industry
advertising program is, advertising alone can not make up for
the shortcomings that sour public perceptions. As Tom Peters
wrote in his book, In Search of Excellence, `perceptions are
reality.'"
He goes on to say that the general public has been creating
its own picture of the RV industry from the sparse bits of data
available in the mainstream media and even more
unfortunately from the "horror stories" of the dissatisfied who
sell their units each year. Referring to Dr. Richard Curtin's
survey, Molino believes it should be sobering to us that "There
are more former RVers than current RVers."
Molino poses the question: Why do people become
dissatisfied?
He added, "We can argue with the data, but surveys tell us
there are three major causes of RVer dissatisfaction:
1) Poor product quality
2) Lack of easily available consistently reliable service
3) Difficulty in finding good quality camping facilities
"No segment of the industry can solve any one of these
perceived problems alone. We are dealing with perceptions
and attitudes. That takes more than fixing the problem. It
takes credibility in getting the word out that we are fixing the
problem. It takes an attitude of `trust.'"
Molino called for real industry unity. He said, "We have an
opportunity to build trust among ourselves by each of us
committing to improving our part of the quality equation. Is it
time to quit fixing blame and begin fixing our image?"
Reese Sponsors a Hitch Training School for StagParkway
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Reese Products, Inc., held a special product and sales
training school for StagParkway's inside and outside sales staff
and corporate staff in March in Elkhart, IN.
The first day was devoted to giving StagParkway sales and
corporate staff a plant tour to introduce them to the various
trailer hitch manufacturing processes. Reese's engineering
department also demonstrated computer aided drafting and
structural analysis. At the conclusion of Friday's training
session, Reese "hitch school teams" were set up and designated
by team colors.
On the second day, each hitch school team attended six
one-hour question and answer sessions which included Class I
and Class II receivers, weight distributing hitches, sway
controls, fifth wheel and gooseneck hitches, transmission
coolers, wiring and electrical products, and merchandising
and sales strategies.
Following the training session, a special awards banquet
was held to present cash awards to the team with the highest
average test score. Terri Dietz was given special recognition
and $50 in cash as the only team member to obtain a perfect
score.
CTPA Elects New President
Scott Adams, Bodega Bay RV Park, Bodega Bay, CA, was
recently elected president of the California Travel Parks
Association at the 21st Annual CTPA Convention in San Diego.
The Adams family have owned and operated Bodega Bay
RV Park for 33 years.
Haines Retires at Elkhart Door
The board of directors of Elkhart Door, Inc., recently
announced the retirement of Richard K. Haines. Haines has
been with the company since it's founding 25 years ago.
Haines started as a production manager, became president,
and had a major influence in research and development. The
company now holds 7 patents.
The board appointed Bernie Gorski as Haines'
replacement. Gorski has been associated with the industry
for 18 years - 16 years with LaSalle Deitch - and, more
recently, as an independent consultant.
The Board also announced the appointment of Mike
Scheetz as vice president of sales and marketing. Scheetz has
been with Elkhart Door for 1 year as sales manager, and has
15 years experience in sales & marketing.
Kinro Expands Manufacturing Capabilities with New
Acquisition
Kinro, Inc., a manufacturer of aluminum and vinyl
windows for use in manufactured homes and windows and
doors for use in RVs, has acquired Shoals Supply, Inc.,
according to Kinro president and CEO David Webster.
Shoals Supply of Bear Creek, AL, manufactures,
refurbishes and distributes new and used axles, tires and
chassis parts which are sold to the manufactured housing
industry. Kinro has assumed management of Shoals and
relocated its headquarters to the Kinro home office in
Arling-ton, TX. Shoals operates from five locations in 4 states
and was founded in 1983. Last year the company recorded
sales of approximately $57 million.
Rexhall Sales Up 21 Percent in FY95
Rexhall Industries, Inc. (NASDAQ:REXL) announced that
for the fiscal year ended December 31, 1995, the company
recorded revenues of $60,709,000 compared to fiscal 1994
revenues of $50,090,000. This represents a 21% increase.
Net income for fiscal 1995 was $2,032,000, $.78 per share,
compared to net income of $1,922,000, $.74 per share, for
fiscal 1994. Revenues for the fourth quarter ended December
31, 1995 were $14,642,000, a 3.5% increase over quarterly
1994 revenues of $14,150,000. Net income for the fourth
quarter 1995 was $454,000, $17 per share compared to net
income of $357,000, $.14 per share, for the same quarter in
1994.
Demand increased late in the quarter as a result of a strong
showing at the November 28, 1995 National Trade Show held
in Louisville KY. Don Hannay, vice president of sales, said,
"Seventy two motorhomes were ordered for delivery with
twenty follow-up orders. Our sales department booked
$4,876,000 in sales in two weeks. We are still receiving orders
today from relationships forged at the show."
Ford Recognizes Top Quality Van Converters
Ford Division has recognized its 10 highest quality van
converters for excellence and customer satisfaction for 1995
model year vehicles.
The Ford Van Conversion Top Ten Quality Awards, given
annually to the highest quality converters, were presented
during a recent ceremony.
The top honor for quality and customer satisfaction went
to d'Elegant Inc. of Schoolcraft, MI. The top ten awards were
rounded out by the following, Coachman Industries Inc,
Elkhart, IN; DM Conversions Ltd, Largo, FL, and Butter, WI;
Eclipse Conversions, Elkhart, IN; Regency Conversions, Ft.
Worth, TX.; Seven-O-Seven, Elkhart IN; Starcraft Corporation,
Goshen, IN; Superior Vans, Louisville, KY; Tuscany Motor
Coach, Shipshewana, IN, and Waldoch Crafts, Forest Lake,
MN.
These quality award winners excelled in customer
satisfaction, owner loyalty and overall product quality. All
data used to compute each converters score was compiled
from customer feedback.
Shelby Adds Rep
Shelby Industries, Inc. (Shelbyville, KY) , a manufacturer of
premium-quality hand winches, trailer couplers, and trailer
jacks, has appointed Marine Markets West, Inc., as
manufacturer's representatives for the Western and Pacific
Northwest Territories in the United States and Canada.
Motorhome ... or ... Motor Home?
RVIA & RV News Offer Advice on
RV Terms & Styles
From time to time, RVIA gets requests from members
seeking advice on the use and spelling of common RV industry
terms. RVIA's public relations department has developed the
suggested list of terms below to aid members as they prepare
various promotional materials.
Based on the news releases we see at RV News, we believe
other industry companies might benefit by these terms and
want to adopt these same standards.
* campsite
* campground
* conventional travel trailer
* conversion vehicle
* fifth-wheel travel trailer
* folding camping trailer
* high-line motorhome
* mini-motorhome
* motorhome
* pickup truck
* recreation vehicle
* slideout
* sport-utility conversion
* truck camper
* type A, B, C motorhome (RV News prefers Class A, B, C)
* van conversion
* RV, not R.V.
* RVing, not RV'ing
* RVer, not RV'er
RVIA uses the following product classifications: There are
two general types of RVs, motorized (all motorhomes and
conversion vehicles) and towables (conventional travel trailers,
fifth-wheel travel trailers, folding camping trailers and truck
campers).
There are three general types of conversion vehicles van
conversions, truck conversions and sport-utility conversions.
Here are a couple of other writing style hints from RV
News, especially for news releases:
* People's titles, ie, president, vice president of sales,
marketing director, are always lower case type when they
follow the person's name.
* When abbreviating state names in addresses use the
two-letter postal code in capital letters with no period
following, ie, CA, not California nor Ca. nor Calif. Example:
Country Coach, Inc., Junction City, OR, introduced its 1997
product line at its recent "Class Reunion" rally.
* Submit news release on plain white paper or letterhead on
white paper with no designs in the background of the type
body.
* Use a standard typeface such as Times, Helvetica or
Courier, never use a script type for news releases, and never,
ever submit it in all capital letters.
* Resist the urge to use a self-serving, modifying phrase
following the company's name, ie, "a leading manufacturer of
high-line motorhomes."
* The word "company" is never capitalized unless it is part of
the company name or the first word in a sentence. For
example, write, "The company posted record sales;" not, "The
Company posted record sales."
Use the suggested styles from RVIA and RV News and it will
increase your chances of getting your news release published.
Since a magazine receives hundreds of releases, if a news
release is difficult to edit, your important message might end
up in the waste basket rather than the magazine.
No CAFE Change
The National Highway Traffic Safety Administration
(NHTSA) has proposed a 1998 light-truck corporate average
fuel economy (CAFE) standard of 20.7 miles per gallon - which
means no change from 1997. Congress has prohibited NHTSA
from spending any money on rulemaking activities that would
change the light-truck CAFE.
ASA Electronics Opens Branches in
Georgia and California
ASA Electronics Corporation (ASA) recently opened branch
and distribution centers located in Lawrenceville, GA, and
Riverside, CA. Also, the sites will be regional sales offices for
ASA.
Tom Irions, CEO, said, "We will now be able to provide to
our west coast and southeast customers much faster service
along with field sales and engineering support. In addition, all
warranty and repair for this region will be handled at these
locations. ASA will stock its complete line of mobile
electronics for the van, RV, marine, truck, bus and limousine
industries in the facility.
The Georgia facility is located at Pike Center at 316, Suite
F, 595 Old Norcross Road, Lawrenceville. Ben Lord, regional
sales manager for the southeast will manage sales for this
location and Dallas Foulkner will handle the technical and
warranty repair.
The California facility is located at Riverside Business
park, 3349 Chicago, Riverside. Tony Leivas will handle the
technical and warranty repair for this location.
Winnebago Announces Initial Public Offering for Portion of
Cycle-Sat, Inc.
Winnebago Industries, Inc., (NYSE: WGO) announced that
Cycle-Sat, Inc., an 80% owned subsidiary, has filed a
registration statement with the U.S. Securities and Exchange
Commission stating its intent to sell common stock via an
initial public offering. Of the 3,750,000 shares being offered,
3,000,000 shares are being sold by Cycle-Sat and 750,000
shares are being sold by certain selling shareholders other
than Winnebago Industries. As a result of the offering,
Winnebago Industries' equity interest in Cycle-Sat will be
reduced to 56.0 percent of the 9,985,600 post-offering shares
outstanding.
Cycle-Sat, Inc., also based in Forest City, is a leading
distributor of broadcast quality advertising to television
stations, cable television stations and radio stations
nationwide.
Damon Corporation Completes Construction Addition to
Towables Plant
Damon Corporation has completed construction of a new
addition to the recreation vehicle manufacturer's Hornet
towables plant in Elkhart, IN.
The 38,500-square-foot addition will position Damon's
entire towable complex for a 40 percent increase in towable
manufacturing. The 58,500-square-foot complex
manufactures the Hornet, Challenger and Escaper towables.
Company officials expect that completion of the new
addition and the increased manufacturing capacity will
generate approximately 50 new positions in the first quarter of
operations.
First Motorized Vehicle Added to RV Museum
A little bit of history is going to be added to the RV/MH
Heritage Foundation museum with the addition of the first
motorized recreation vehicle, which was loaned to the museum
by Winnebago Industries, Inc. A 1967 Winnebago F19, one of
the first motorhomes to be built on an automotive-style
assembly line, will be on display for RV enthusiasts to see
what motorhome camping was like in the early years and how
technology has boosted the motorhome industry into the
1990's.
While it doesn't have the technology of today's models, the
F19 features a home-style galley with a double sink, four
burner stove, oven with range hood, light and fan, and a large
refrigerator. The bathroom is a wet-bath with toilet, sink and
shower all in one room. There's certainly room for the whole
family. With the fold-down dinette in the rear of the unit
serving dual purposes and pull-down bunks in the front and
rear, the F19 is able to sleep six.
The museum, headquartered in Elkhart, IN, serves as a
center for industry research with a Hall of Fame recognizing
over 150 individuals who have had considerable influence in
the RV industry, a library with historical publications,
photographs and artifacts, and a museum filled with exhibits
and memorabilia dating back to the 1920's.
RV/MH Heritage Foundation Welcomes
New Board Members
The following industry leaders were recently elected to the
RV/MH Heritage Foundation's board of directors: Joe Kelly,
executive director, Iowa MH Association.; Glenn F Kummer,
president, Fleetwood Enterprises; Darryl Searer, president,
MHS Supply Inc.; Ron Shrum, president, Shrum's Home
Sweet Homes; and Gene Stout, executive vice-president,
Coachmen Industries.
Demco Renames KarBar Tow Bar to Excali-Bar™
Demco, Boyden, IA, has changed the name of its RV towing
product, the KarBar. Demco's new name for the tow bar is
Excali-Bar™ . According to a Demco spokesperson, the name
change was instituted to eliminate all confusion with like
named competitive products.
New RVIA By-Law Provision Regarding
"Non-Use" of RVIA Standards Seals
At the March 1996 Annual Meeting the RVIA board of
directors approved a revision of the RVIA By-Laws regarding
manufacturers who do not affix the RVIA standards seal to
their units.
The by-law provision (Article V) will read as follows:
BY-LAW PROVISION (ARTICLE V)
In the event a member is cited two times within twelve
months for failing to display the applicable Association seal,
the vice president of standards shall report such violation to
the board of directors at their next meeting. The member shall
be notified via certified mail at least 15 days prior to the board
meeting that it's eligibility for continued membership is in
question for such violation and that it is entitled to be heard
on the subject at the board meeting. Notwithstanding anything
herein to the contrary, upon receipt of the vice president of
standards' report, and after hearing from the member, if
requested, the board of directors may immediately expel the
member from the Association.
Therefore, this Standards News Bulletin serves as
notification that the following policy will go into effect
immediately.
POLICY
A. The RVIA inspector is required to document one seal
number from a finished unit on each inspection report.
B. When an inspector discovers that seals are not being
affixed it is to be noted on the inspection report in the
comment section, and it is to be indicated whether the
manufacturer has no seals in stock, or, has seals but is not
using them.
C. The inspector must leave a copy of the enforcement
policy for non-use of RVIA seals with the plant contact and fax
a copy of the inspection report within 24 hours to Reston.
D. Upon receipt of such report, the director, RV standards,
will issue a certified letter to the company indicating the
non-compliance. Upon receipt of the letter, the company must
immediately notify the director in writing of its intent to begin
using seals from stock immediately or to order seals within 10
working days.
E. If a response is not received within 10 working days,
the VP of standards will forward the manufacturer's file to the
executive committee for their recommendation to the board of
directors, which could include expulsion.
F. An unannounced RVIA inspection will be scheduled
within 8 weeks or sooner (scheduling permitting) to verify that
seals are being affixed.
G. If during the next 12 months a repeat of non-seal use is
recorded, the member's files will be immediately forwarded to
the executive committee for their recommendation to the board
of directors, which could include expulsion.
Thor Wins Record Bus Orders
Thor Industries, Inc. (NYSE:THO) announced recently that
its Eldorado National bus operation has received two orders,
totaling a record $30 million, from National Car Rental System
Inc. for its airport shuttle fleet and from PACE, a major
transportation operator in Chicago. Deliveries will start in late
April and take several months to complete.
National Car Rental's order, totaling 159 buses, includes
specially designed, low profile 29-ft buses for Miami Airport
and Eldorado National's well-known RE-29 and REA-32 heavy
duty buses. Also included in the order are 45 Aerotechs, the
industry's top selling shuttle bus.
PACE's order is for 51 29-ft heavy duty Transmark buses
and 115 Aerotech and Aerolite models which will operate in
the Chicago suburban area. This latest order is in addition to
recent PACE orders totaling 215 Eldorado National buses.
Winnebago Reports
Second Quarter/Six Month Results
Winnebago Industries, Inc. (NYSE: WGO), reported earnings
for the second quarter and first six months of fiscal 1996. Net
income for the second quarter ended March 2, 1996, was $2.2
million, or nine cents a share, on revenues of $113.6 million.
This compares to net income of $12.1 million, or 48 cents a
share, on revenues of $115.4 million for the same period last
year, however, these results include a tax credit of $6 million,
or 24 cents a share.
For the first six month period of fiscal 1996, the company
reported net income of $5.2 million, or 21 cents a share, on
revenues of $235.6 million. With the tax credit in the second
quarter last year, this compares to net income of $19.7
million, or 78 cents a share, on revenues of $246.2 million for
the first six months of fiscal 1995. Due to the strong earnings
growth the company has realized in the past three years,
Winnebago has fully reflected the benefit of prior tax losses
which had existed and fiscal 1996 results show the full impact
of income tax expense.
"We are pleased with the results achieved by Winnebago
Industries in the second quarter and the first six months of
fiscal 1996," said Winnebago president and chief executive
officer Fred G. Dohrmann, "particularly since the RV industry
has had to operate in a very sluggish market since last
summer."
MMH & RVCA Breaks Ground
for New Headquarters
The Michigan Manufactured Housing, Recreational Vehicle
and Campground Associa-tion (MMH & RVCA) has started site
development and building of its new headquarters building in
Okenios, MI, near the state's capitol, Lansing.
MMH & RVCA was established in 1941 as the Michigan
Motor Coach Association. At that time, the motor coach or
trailer were identical and used for both travel and living.
Today, however, the MMH & RVCA represents two very
distinct industries: the manufactured housing industry that
provides contemporary consumer housing, and the RV and
private campground businesses serve the needs of the
consumer. The two industries are served under two different
divisions within the organization.
The new facility will be located on Okenios Road near Jolly
Road about one mile from the I-96 Interstate highway. The
7,550 square foot building will sit on 1 1/2 acres of property in
a business park to be called Scholle Pond Office Park.
Appropriately, the main street within the complex will be
called Association Drive.
The new building will have a modern education center for
training and conference space for the two industry's boards of
directors.
Pictured at the association's new building site are
association building committee members (from left) Lynwood
Wellhausen, Dennis Dukes (both from MMHA), Laura Sheffer,
Doug Venuto (both from MARVAC and the association's
executive director Timothy DeWitt.
.Jack Kemp Headlines Agenda for RVDA Convention/Expo at
Orlando
Jack Kemp will be the keynote speaker at the 1996 RVDA
Convention/Expo which meets in Orlando September 22 - 25,
1996, at the Orlando Expo Center. The theme for the
convention is Discover the Magic of RVDA Education.
Kemp `s keynote address will be at 3:45 pm on Sunday ,
September 22, 1996, at the Expo Center. Jack Kemp is
currently co-director of Empower America, a public policy and
advocacy organization he co-founded in 1993 with William
Bennett and Ambassador Jean Kirkpatrick, Empower America
is dedicated to three founding principles: expanding freedom
and democratic capitalism; promoting policies to expand
economic growth and entrepreneurship for our nation; and
advancing social policies which empower people, not
government bureaucracies.
Prior to founding Empower America, Kemp served four
years as Secretary of Housing and Urban Development, and
proved to be one of our nation's most innovative leaders in
that role. In March, 1995 Senator Bob Dole and Speaker Newt
Gingrich put Jack Kemp at the center of the tax and economic
debate for the `96 campaign by naming him chairman of the
National Commission on Economic Growth and Tax Reform.
The commission will study how restructuring of our tax code
can help unleash the entrepreneurial spirit of Americans, grow
the economy without inflation and create greater opportunity
for people to escape poverty.
Other highlights of the convention include education which
is broken down into 4 separate tracks: Sales , Management,
Aftermarket and Rentals.
Over 15 speakers will present more than 35 seminar
sessions. For the first time, all seminars will be broken down
into entry level or advanced categories. The popular "Round
Table" discussion groups will be another important peer
interaction opportunity for dealers attending the convention.
In addition, RVDA is planning a full day, optional cost,
advanced F&I seminar by Jan Kelly on Saturday, September
21 as well as several 3 hour advanced seminars during the
regular convention schedule.
To receive a convention registration package that includes
all the details of the event call RVDA at: 800-336-0355.
Fleetwood Declares Regular Dividend
The directors of Fleetwood Enterprises, Inc. (NYSE: FLE)
have declared the company's regular quarterly cash dividend of
15 cents per share of Common stock, payable May 14, 1996,
to shareholders of record April 5, 1996.
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