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Stock Market Quiet Despite Fed Rate Cut

Investors apparently factored the much-anticipted interest rate decrease into stock prices, so the market showed little reaction Wednesday to the Federal Reserve’s decision to lower rates 1/2%. The Dow Jones Industrial Average, which recorded a sharp increase Tuesday,...

Fleetwood Reports Sharply Lower RV Sales

Fleetwood Enterprises Inc. reported sharply lower RV sales revenue during its third fiscal quarter, which ended Sunday (Jan. 28). The company’s RV sales during the November-through-January period totaled $251 million, a 42% decline from the record level of a year...

Kevco Won’t Rule Out Bankruptcy

Kevco Inc., a producer and distributor of building products used by RV and manufactured home builders, said today (Jan. 31) that it might have to file bankruptcy. The Fort Worth, Tex.-based company said it might need to obtain protection from creditors under federal...

Fed Cuts Interest Rates Another 1/2%

Citing the need for “a rapid and forceful response” to prevent a recession from occurring, the Federal Reserve Board lowered interest rates 1/2% today (Jan. 31). The move by the Fed is expected to result in major banks lowering their benchmark prime...

Rec. USA Reports FY2000 Net Loss

Higher floorplan interest costs were a major reason why retail dealership chain Holiday RV Superstores Inc., which does business as Recreation USA, reported a net loss of $3.2 million during its fiscal year 2000, which ended on Oct. 31. The loss compares with a profit...

Dow Soars, Bigger RV Company Shares Gain

The Dow Jones Industrial Average shot up 179 points, or 1.7%, on Tuesday as investors poured funds into blue chips in anticipation of an interest rate cut by the Federal Reserve on Wednesday. Meanwhile, the Nasdaq composite, which posted a sharp gain on Monday, was...

Stock Market and Most RV Shares Gain

The Nasdaq composite posted a sharp gain on Monday as investors began betting that another interest rate decrease by the Federal Reserve will boost the economy. The Fed’s decision on interest rates is expected Wednesday. Meanwhile, the Nasdaq climbed 57 points, or...

MHC to Intro Class A on Spartan me2

California’s MHC Group Inc. will introduce the first Class A motorhome built on the me2 chassis assembled by Spartan Motors Inc. of Charlotte, Mich. The mid-engine me2 was introduced by Spartan during the RV industry’s national trade show in Louisville last November,...

Nasdaq Plunges, RV Shares Mixed

The Nasdaq composite plunged 105 points, or 3.7%, Thursday despite Fed Chairman Alan Greenspan’s statement in support of tax cuts and his suggestion that the Fed will lower interest rates again next week. Greenspan told the Senate Budget Committee today (Jan. 25) that...