May 18, 2012 |
Winnebago Industries Inc., maker of the cult favorite recreational vehicles, reviewed and rejected an unsolicited $321.5 million takeover bid from a private equity firm Friday. In a letter , North Street Capital offered $11 per share in cash for Winnebago - a 29% premium over the Iowa company's Thursday close. But Winnebago said in a statement that the letter didn't have “sufficient information to deem the offer as credible” and that the proposal was conditional upon further due diligence and negotiation.
May 28, 1994 |
For the committed highway traveler comes the latest in summer escapes: motor home trading cards. Winnebago Industries Inc.'s cards--all 3.6 million in the first edition--feature travel trailers and motor homes from the late 1950s through 1995 models. Each card displays a color photo of a motor home; its vital statistics are listed on the back, along with descriptions such as "The D-27 had a rear twin bedroom and private entrance." A 10-card pack will sell for $1.
August 14, 2005 |
Merv Grazinski set his Winnebago on cruise control, slid away from the wheel and went back to fix a cup of coffee. You can guess what happened next: The rudderless, driverless Winnebago crashed. Grazinski blamed the manufacturer for not warning against such a maneuver in the owner's manual. He sued and won $1.75 million. His jackpot would seem to erase any doubt that the legal system has lost its mind.
March 1, 2002 |
Fleetwood Enterprises Inc., the largest U.S. maker of recreational vehicles, said its fiscal third-quarter loss narrowed as sales rose. The company doesn't expect a profit this quarter. The loss in the quarter ended Jan. 27 narrowed to $17.3 million from $205 million, or $6.26 a share, in the year-earlier period, including one-time charges. The maker of Pace Arrow motor homes and Coleman folding trailers said the exchange of convertible bonds in the last quarter put earnings at 31 cents a share.
June 18, 2004 |
J.M. Smucker Co., the largest U.S. maker of jellies and jams, said fourth-quarter earnings fell 4.6% on restructuring costs and lower sales of brands including Crisco shortening. Net income fell to $22.2 million, or 44 cents a share, from $23.2 million, or 46 cents, a year earlier, the Orrville, Ohio-based company said. Sales in the quarter ended April 30 declined 1.1% to $325.4 million, the first drop in more than three years. Shares of Smucker fell $2.15 to $46.50 on the NYSE.
March 29, 2009 |
In the realm of conspicuous consumption, few things are larger than the RV, the multi-ton vehicular brontosaurus that has taken generations of families on the great American highway adventure. But in the worst economic crisis since the Depression, the RV is facing perhaps its gravest challenge as sales have plummeted, manufacturers have filed for bankruptcy or gone out of business, and lofty expectations of a grander profile for recreational vehicles have been drastically cut.