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Thor Industries, Inc. (THO)

NYSE - NYSE Delayed Price. Currency in USD
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114.94-0.39 (-0.34%)
At close: 4:02PM EDT
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    ANTONIO
    ANTONIO

    U.S. DEPARTMENT OF LABOR AND RV MANUFACTURER RESOLVE WAGE VIOLATIONS
    ELKHART, IN – The U.S. Department of Labor’s Wage and Hour Division and an Indiana recreational vehicle manufacturer have reached an agreement to resolve overtime and minimum wage violations at nine production plants in Elkhart and Wakarusa.

    Thor Motor Co. of Elkhart, has paid 386 workers a total of $59,514 – representing $29,757 in back wages and an equal amount in damages.

    Division investigators found violations of the Fair Labor Standards Act (FLSA) occurred when recruitment bonuses paid to employees were not included in overtime rate calculations, resulting in workers being paid less than they were legally owed. The hourly rate earned by some piece rate workers fell below the minimum wage, and the company paid time-and-half on those same sub-minimum wage rates when calculating overtime for piece-workers. The company also failed to keep accurate records of hours worked.

    “Failing to properly compute wages for piece workers and include bonuses when computing an employee’s regular rate of pay for overtime pay denies worker’s their rightfully earned wages,” said Wage and Hour Division District Director Patricia Lewis, in Indianapolis. “We encourage all businesses to take advantage of the Division’s education and outreach efforts to help them understand their responsibilities and how to properly calculate pay rates.”

    Thor Motor Coach is a subsidiary of Thor Industries, Inc., the parent company of 12 RV manufacturing companies located in the Midwest.

    Workers and employers with questions can get more information about this topic and all of the federal wage laws administered by the Division by calling the agency’s toll-free helpline at 866-4US-WAGE (487-9243). All calls are confidential. More information is available online at http://www.dol.gov/whd/.
    WHD News Release:
    09/12/2017
    Contact Name:
    Scott Allen
    Email:
    allen.scott@dol.gov
    Phone Number:
    (312) 353-4727
    Contact Name:
    Rhonda Burke
    Email:
    burke.rhonda@dol.gov
    Phone Number:
    (312) 353-4807
    Release Number:
    17-1185-CHI

  • j
    joe
    joe
    if an activist group got involved in Thor I would imagine the stock would double. There is a lot of untapped value going on here. Enhancing shareholders value is something that Thors needs to get better at.
  • j
    joe
    joe
    If THO commanded the same P/E as it's peers like WGO(22), THO(17) would be trading at $143. Just saying...
  • j
    joe
    joe
    Why does THO have the lowest P/E of any of the stocks in the RV sector? Why would a company like Thor not want to be a private company? and.. Wouldn't it make sense to split the stock here? Why would you want a $115 RV stock with 50M outstanding? Split the stock or take us out at $200 a share.
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    Jerome
    Jerome
    THOR just got busted by the US Department of Labor for not paying employes due wages ...Settled by paying back wages to 386 workers and agreed to pay fair in the future.
  • j
    joe
    joe
    Wow! #$%$...Greedy millionaires trying to fit more millions in their pockets at the expense of the little guy. Pathetic! Something tells me this ain't going away. Time to sell..
  • j
    joe
    joe
    I would rather see a share buy back program than a one time special dividend. Any one timer is basically a bonus for the insiders. They own millions of shares and never purchased one with their own money.
  • j
    joe
    joe
    How about a 2 for 1 split? and a big buyback program and actually buy back some stock. Thor currently has a stock repurchasing program but the share count goes up for some reason?
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    Stephen
    Stephen
    shouldn't the quarterly dividend been announced by now?...is there a problem?....the last quarter's dividend was declared on 6/8....3 months later would be 9/8?....any guesses?
  • j
    joe
    joe
    Hey Sparty (Norman Bates), How come your not weighing in? Did mother take away your computer? What's your take on guidance next week?
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    ANTONIO
    ANTONIO
    to Stephen,

    You are 200% correct. I am afraid there is something going on here.
  • j
    joe
    joe
    another great week for RV stocks. Except for Thor.
  • j
    joe
    joe
    Anyone notice as Thor grows margin shrink? Thors management does not believe in synergies for some reason. Buying companies and having them all run independently is starting to look pretty stupid. When growing in this fashion it is impertinent that you find synergies. Thor for some reason does not believe this. Where one painting facility could be used to paint all RV's, each of Thors names has their own. Roofs, plumbing, electric, it's all the same problem. Sell your Thor and buy WGO, LDII and PTRK and get rich.
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    ANTONIO
    ANTONIO
    Raising rates = less RV (luxury)
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    joe
    joe
    In hindsight Thor should have bought Winnebago years ago. Management dropped the ball big time!
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    ANTONIO
    ANTONIO
    I am afraid, we will have bad news on September 27th. We had two hurricanes (huge hurricanes). Do you think that individual residing in Texas and Florida are thinking about RV? By now, many people who used RV as houses in these two parts of the country may be reconsidering where to live next that is not precisely an RV. In additions, parts coming from other countries come through the ports in TX and FL which were closed for more than a week or more. We have a problem in this quarter. Let's wait and see.
  • j
    joe
    joe
    I'm looking for another 6 billion dollar company with no debt and growing at the same clip as Thor that has a P/E less then 29 and I can't. Thors forward P/E is 14. I can find a bunch of 6 billion dollar companies that pay over 3% dividends. Thor pays 1%. ACTIVIST GROUP!! HELP!!
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    Brooke
    Brooke
    The last time THO did something like this it blew up. I started receiving notifications from Awe-Some.Sto-ck.s the other week and so far they have presented interesting new trade ideas.
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    joe
    joe
    I see why Thor gets crushed by competitors lately. I had no Idea WGO sell more then twice as many B class then Thor. This is a problem. Thor is in 4th place when it comes to B class RVs. This is where the profits are. Thor seems to be good at having 54% of the unprofitable RV segment. When dealers have to discount, Thor will probably lose money on every RV that they manufacture. I knew there was a reason that this stock acts like a pig. Thor is pig with lipstick on.
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    Faith
    Faith
    The last time THO did something like this it blew up. Do you guys find it difficult to know when to buy or sell something? I prefer to get my stocks from awe-some_sto-cks.