Listen to this story
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now0:00
0:00
Loading audio file, please wait.
Stock in Elkhart-based Coachmen Industries Inc. is sliding as the subprime mortgage implosion erodes opportunities for the Elkhart company to make money selling the houses it manufactures.
Coachmen shares are trading at $6.86, down from $9.58 as recently as July 19 and $12.90 last October.
On Aug. 27, Coachmen suspended its quarterly dividend of 3 cents per share, saying it plans to conserve cash at a time of uncertainty in the industry. Coachmen said its balance sheet is sound and that the company has more than $40 million available on its credit lines.
Coachmen also manufactures recreational vehicles and commercial buildings.
Please enable JavaScript to view this content.