RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

Berkshire Hathaway Could Lose Texas License For Non-Compliance

Thu Jun 15, 2017

147526179136181.jpgBerkshire Hathaway, the parent company of Forest River, Inc., is in non-compliance with a Texas dealership law and may face the consequences, according to a story by Seeking Alpha.

At issue is the state law prohibiting auto dealerships and vehicle manufacturers from sharing ownership.

Berkshire Hathaway got into the auto dealership business in a big way in early 2015 from its $4.1 billion purchase of the Van Tuyl group, then the country's fifth largest auto retailer. The trouble with the law is that Berkshire is also the owner of Forest River since 2005.

The Warren Buffet-owned company attempted to push through a change to the state law allowing an exemption if the dealerships and manufacturers sell different types of vehicles, but the attempt failed.

"The dealer franchise laws are written so broadly that they prohibit an apple manufacturer from owning an orange dealership," Berkshire Hathaway Automotive CEO Jeff Rachor says, according to Nicole Friedman at the Wall Street Journal. "They also prohibit a financial holding company from owning both an apple manufacturer and an orange dealership."

The officials at the Texas Department of Motor Vehicles have determined that Berkshire's dealerships and RV manufacturer should lose their licenses as a result of being in non-compliance with the law. Berkshire has requested a hearing to dispute. A settlement of some sort is possible between the company and the state.