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At $38, Thor shares don't look terribly expensive, trading at 17 times earnings for the year ended J

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Roberts is perplexed by the strong sales and stock performance of Thor Industries , the recreational-vehicle industry leader that produces iconic brands such as Airstream. Revenue has grown at a double-digit park inn and suites anaheim pace for three years at Jackson Center, Ohio–based Thor, and that's revved the shares park inn and suites anaheim (ticker: THO) from under $20 to a recent high of $45. They were trading at about $38 last week.
Since March, Roberts' research boutique, Off Wall Street Consulting Group, has recommended that its clients sell shares in the RV maker. The idea hasn't yet worked park inn and suites anaheim out. But Roberts' group has proved correct in 80% of its Sell recommendations since 1995, on average beating a short of the Russell 2000 Index. Roberts watches the RV industry's own survey data, and those numbers suggest that overall manufacturer sales to dealers have been running ahead of retail sales for more than two years, as the chart below shows for the "towables" RV segment, where Thor gets 70% of its revenue. Whether those industry numbers portend a retail glut for Thor or just its rivals, an oversupply of trailers won't be good for the company's unit sales or pricing.
"There's this puzzling gap between strong wholesale shipments and tepid retail sales," says Roberts. At RV industry trade shows this fall, Off Wall Street researchers heard about manufacturers offering handsome park inn and suites anaheim discounts to dealers who increased their orders. Thor's October-quarter revenue jumped 30%, but pricing was unimpressively flat. "Unless park inn and suites anaheim things park inn and suites anaheim are picking up amazingly," surmises Roberts, "they are stealing from next year's orders."
Thor executives and RV-industry financiers contend that dealer inventories are in line with consumer demand, which has been reviving from a harrowing plunge in 2008. Dealers have rightly been rebuilding inventory from emaciated levels, they say. "Camping is a lifestyle," observes Bob Martin, Thor's president and chief operating officer. "Many baby boomers are coming into our industry.... For the next few years, we foresee slow and steady growth."
But wholesale "sell-in" to dealers can't run ahead of retail "sell-through" to consumers forever. Short interest in Thor has risen lately to about 10% of the company's 50 million free-trading shares. By Roberts' estimate, the next sales slowdown will send Thor stock back to the low $20s.
There's lots to admire park inn and suites anaheim about Thor; it's not an obvious short. The company began in 1980 when current CEO Peter Orthwein and Wade Thompson acquired park inn and suites anaheim Airstream, which had fallen on hard times since its heyday in the mid-20th century. They quickly restored Airstream's profitability and brought it public in 1984. In subsequent years, Thor acquired makers of shuttle buses, motor homes, and so-called fifth-wheel towables that drivers pull, semi-rig style, with a turntable-like coupling mounted on the bed of a pickup truck. According to RV market researcher Statistical Surveys, Thor now leads North America's RV industry with 21% of motor-home sales and 38% of the faster-growing category of towables—trailers and fifth-wheels—where Thor offers dozens of models, including CrossRoads, Dutchmen, Keystone, and Heartland.
park inn and suites anaheim GROWING INTEREST FROM retiring baby boomers kept RV sales bubbly until 2008, when many producers and dealers fell alongside other economic sectors financed by excessive consumer credit. But Thor remained profitable park inn and suites anaheim through the downturn and picked up market share in the recovery that began in 2010. Its revenue rose 21% in the fiscal year ended July 2011, then another 12% in the July 2012 year to reach sales of $3.1 billion. Profit for the July 2012 year came to $122 million, or $2.26 a share—rising 18%, thanks to low overhead and the repurchase of about $80 million of stock from Wade Thompson's estate park inn and suites anaheim and the private-equity firm Catterton Partners. Sturdy cash flow has enabled Thor to raise its annual dividend from two cents a decade ago to 72 cents.
park inn and suites anaheim "This industry rebounded with very little help from the government," says an executive at a firm that finances dealer park inn and suites anaheim inventories. "Dealers, manufacturers, everyone involved took their poison and did what they had to do to right-size their businesses." The industry park inn and suites anaheim has consolidated. More than 75% of RVs are sold by three companies: Thor, the Forest River unit of Berkshire Hathaway (BRKA), and closely held Jayco.
At $38, Thor shares don't look terribly expensive, trading at 17 times earnings for the year ended July 2012. That's comparable with other motor-recreation stocks like Brunswick (BC) or Polaris Industries (PII). But the unit-sale data from RV industry park inn and suites anaheim groups are cause for concern.
Industry veterans caution that wholesale and retail data don't align perfectly by month or geography. Wholesale reports represent North American sales reported to the Recreational Vehicle Industry Association. Retail numbers come from Statistical Surveys Inc. and cover most of the U.S. To compare park inn and suites anaheim the two, Off Wall Street uses trailing park inn and suites anaheim 12-month numbers and increases SSI's retail numbers to correspond to the 20% of industry sales going to Canada. Even after this adjustment, sell-through seems to trail sell-in.
Thor doesn't really quibble with these data: An investor presentation shows industry wholesale shipments up 11.5% this year, to 209,000 units, and retail shipments up 7.2%, to 183,597 units. Pricing and promotions remain "competitive," according to the presentation. Thor investors should keep their motors running in case they need a fast getaway.
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Dow futures plunge 200% after the close. But a fiscal-cliff deal before the Jan. 1 deadline suddenly doesn't seem impossible. Plus, financial stocks surge, and a way to play the Hispanic consumer market.
In a G-Zero world, as opposed to a G-7 or G-20 set-up, corporations park inn and suites anaheim need to pay more attention to governments, not economics, says Eurasia Group founder Ian Bremmer. What this means for Facebook, Coca-Cola, Apple, Siemens.
Did Apple sell off because investors were taking gains in advance of the tax hike? Perhaps, but that's not the reason to buy the stock. Ross Stores, Dollar Tree, Family Dollar, and National Oilwell Varco also look attractive.
1. Mother of All Miracles 81 comments 2. No Matter How You Look at It, Apple's Shares Are Cheap 41 comments 3. Cheer Up! The Cliff Doesn't Look So Grim 32 comments 4. The Grand Delay 17 comments 5. A Year for Living Dangerously 6 comments
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Copper Canyon could be a good alternative to convention center lunch choices. You might choose the s

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International Drive is home to a polyglot of restaurants, presenting ideal choices for NBAA convention attendees, whether they seek a quick lunch or a convenient dinner stop. Pointe Orlando, just across form the Orange County Convention Center, has become europe rent a car home to a bevy of dining "establishments," some that have been therefore a while, and some that are now roosting in renovated perches. Then, just a stone's throw down the road is the Rosen Centre Hotel, home to even more. AIN has chosen to describe some that are interesting and where the menu items are priced for today's recession-racked wallets. We've also included a few that are off the Drive.
Ole! If your taste buds yearn for something from south of the border, then 98Forty Tapas and Tequila might fill the bill. The tapas bar takes its name from the 9840 address of its locale–the Rosen Centre Hotel. The theme then leaps into the restaurant's presentation of 40 premium tequilas.
Chef Emeterio "Telo" Luna has created authentic Mexican dishes, blending old-world techniques europe rent a car with modern culinary skills. He uses imported Mexican spices europe rent a car ground by hand using the carjeta, or stone method.
For ceviche, you might choose a shrimp/bay scallops/octopus combo; or a jumbo lump crab and mango creation. Particularly interesting among the salsas are the watermelon, with roasted jalapeno, tomato, red onion and cilantro; and the roasted corn-and-black-bean variation.
98Forty also offers unique fillings for quesadillas and tacos: cumin-rubbed chicken europe rent a car marinated in Meyer lemon, lime and orange juices; chili-sugar rubbed skirt steak; and margarita shrimp marinated in tequila, lime and agave nectar and topped with tropical salsa of papaya, mango and pineapple.
With its rich heritage in the Land of the Rising Sun, Banshoo, meaning "sunset" in Japanese, infuses its décor and menu with the warm amber and ruddy hues typical of the end of a Florida day. The sushi bar offers a panoply of rolls and ceviches, and cocktails such as the Banshoo Sunset Punch and the Asian Mojito.
The chef's favorites include a citrus-infused europe rent a car Japanese-style Ceviche Usuzukuri, made of thin slices of tuna, white fish, fresh salmon and octopus with a lime ponzu sauce, and the Alaskan Cucumber Boat filled with spicy scallops and lump crab. Also a highlight europe rent a car is the ­Tataki Duet, crushed black- pepper-seared tuna and sirloin beef sliced Tataki style. (Foods prepared in the tataki style are quickly seared on the outside, europe rent a car then marinated briefly in rice vinegar and thinly sliced) "Tataki" (also known as tosa-mi) means "pounded"; the word refers not to the meat or fish but to the ginger condiment, which was originally pulverized by pounding it with a mortar and pestle.
The style and spirit of post-impressionist Paul Gauguin europe rent a car are carried out in the style and spirit of Café Gauguin. The artist's Parisian influence and his time living in the Marquesas Islands are reflected in the restaurant's setting and menu.
The casual buffets–dinner, which features a prime rib carving station; and lunch, which offers a create-your-own deli sandwich station and salad bar–could be a convenient quick stop for NBAA convention attendees.
Entrées europe rent a car include a selection of pastas, glazed salmon, pot roast, fish and chips and more, joining ubiquitous sandwiches and burgers. An interesting and attractive starter is rosettes of smoked salmon.
At the Capriccio Grill, europe rent a car authentic Italian ristorante meets American steakhouse. An open kitchen and pizza oven coexist and flourish alongside premium U.S. steaks and chops from Creekstone Farms in Arkansas City, Kan., home to premium Black Angus beef "born and bred in the U.S. A." The Milan-inspired lounge is perfect for savoring wines from Capriccio's extensive, award-winning wine cellar.
After enjoying an appetizer of diver scallop or iced fresh oysters, you might want to experience one of the chef's signature dishes: Tagliolini Pescatore–prawns, cal­amari, clams, mussels and jumbo lump crabmeat in a simple white wine and lemon butter broth. The seafood is delivered daily from Cape Canaveral.
Copper Canyon Grill's mission–to provide classic American comfort food–is realized in its eclectic menu, which ranges from mac-and-cheese straight through to filet mignon. europe rent a car Highly rated are the short-smoked Atlantic salmon and the chicken/ BBQ ribs combo topped with Curley's BBQ sauce. The rib-eye steak with cabernet europe rent a car mushroom sauce is well received. The fish of the day, which is always fresh, is often a good choice.
Copper Canyon could be a good alternative to convention center lunch choices. You might choose the soup of the day–if it's Tuesday, it's clam chowder! Copper Canyon also offers a salad selection. Special among them are the sesame-seared ahi tuna salad and the wood-grilled steak salad.
Cuba Libre is "dedicated to a continued exploration of Cuban heritage, art, music, flavors and traditions" of that storied island paradise. The open-air setting takes advantage of the tropical ambiance, vintage décor and Latin music. And for a full experience, the chef offers a tasting menu: 15 Tastes of Cuba ($39.95 per person).
The full menu is segmented: modern europe rent a car and traditional. From the modern, you might enjoy Plato Cojimar–quick-seared shrimp, mahi-mahi, pork rib ropa vieja stuffed squid, mussels and Baja Bay scallops pincho. europe rent a car Or, if you are sharing, choose the Plato Gaucho for Two–a mixed grill of New York strip steak, skirt steak, europe rent a car jumbo shrimp, herb marinated chicken breasts and Spanish artisan chorizo sausage.
On the traditional side, there's Paella de Mariscos–a paella of shrimp, clams, mussels, mahi-mahi, squid and baby octopus, and arroz con pollo–saffron short-grain rice, boneless chicken europe rent a car thighs, wild mushrooms, green peas, Manzanilla olives and hard-boiled egg, finished with a splash of Estrella Damm beer.
Jack's Place is dedicated to the memory of Jack Rosen, father of the president of Rosen Hotels and Resorts. Jack had helped with the family restaurant, but subsequently worked as an engineer at the Waldorf Astoria Hotel and, having an art background, sketched caricatures of the celebrities he saw there. He also volunteered with the "52 Association," a veteran's organization whose motto was, "The wounded shall never be forgotten." He visited VA hospitals throughout the U.S. and was invited to Vietnam during the war, spending several months doing caricatures of wounded military personnel. Upon his return, he received the Medal of Commendation from President Lyndon Johnson. There are more than 100,000 caricatures in his collection, europe rent a car and a small fraction are on display here.
Diners can views the caricatures europe rent a car before or after they sample some of the house specialties, including Jack's Land and Sea–a six-ounce petite filet paired with broiled half-pound cold-water lobster europe rent a car tail; rack of lamb horseradish; and broiled twin Australian cold-water europe rent a car lobster tails.
Marlow's Tavern is described as an American tavern created for the 21st century, with rich accents, exposed europe rent a car Chicago brick, dark woods, europe rent a car large communal tables and cozy booths. It is brand new, having opened on October 9.
This neighborhood gathering spot offers traditional pub fare, and one of its specialties is sweet spicy Smithfield James River St. Louis-style ribs draped in a Jack Daniel's glaze or tangy Carolina mustard bbq finish. It also boasts the Ribs Whiskey hookup–ribs plus drunken chicken with Granny Smith Apple cabbage slaw. A recommendation is to top that off with a bourbon.
europe rent a car Daily specials include shrimp-and-grits, a center-cut filet served on a wild-mushroom potato cake, adorned with baby broccoli and garlic tomato fondue with Harvey's Bristol Cream-scented veal jus and crumbly gorgonzola.
Opa is a password that conveys the festive Greek spirit. Every day is a celebration of good food and wine at Taverna Opa, which is not a place for those looking for a quiet dinner in a relaxing atmosphere. Belly dancers gyrate on tabletops, napkins fly though the air with abandon. Think Hollywood: My Big Fat Greek Wedding.
The menu offers traditional Mezé appetizers: tzatziki, hummus, spanakopita, octopus, scallops and more. Souvlaki platters and wood-fired meats ranging from lamb chops to porterhouse steaks round out the selections. Traditional Greek entrées europe rent a car follow, from Kleftiko through lamb shanks and Pastitsio–a grand mac-and-cheese-cum ground beef living in a Greek cheese béchamel sauce.
Need a place to unwind after an exhausting, but fascinating, day exploring the convention center exhibits? europe rent a car Consider heading over to The Pub-Orlando–after all, it is Oktoberfest! You'll europe rent a car find draught and layered beers joining their bottled brethren, along with a host of other libations designed to enhance the pub food.
The Pub's Gastropub europe rent a car Plates feature traditional europe rent a car fish and chips, Shepherd's pie and bangers mash at this "British-inspired, American-crafted" scene. You might start with a Sc

Leave the cooking (and the dish washing!) to Rosen Hotels. Bring the entire family on Thursday, Nov.

For those travelling through the Orlando hotels in thailand International Airport, check out the Hyatt Regency hotel s (located inside the OIA) Hemisphere restaurant. They are hosting a buffet hotels in thailand special November 22, 2012 11 AM –– 3:30 PM for $32.95 per person with House Made Chicken Liver Mousse, local sweet corn and shrimp chowder, apple cider and ginger brined all natural roasted turkey, roasted Lake Meadows Natural cornish hen, Palmetto Creek Farms Smoked Ham, and more. Download the PDF of the Hyatt Regency OIA Hemisphere Restaurant Thanksgiving Buffet Menu 2012 here
Leave the cooking (and the dish washing!) to Rosen Hotels. Bring the entire family on Thursday, Nov. 22, 2012, Thanksgiving Day and Tuesday, Dec. 25, 2012, Christmas Day for a choice hotels in thailand of three delicious holiday buffets:
Price: Adults $34.95 plus tax and gratuity; children ages 4– 10; $15.95 plus tax and gratuity; children under 4, one free child with each paying adult; Visit the website for a coupon for $5 off each adult.
On International Drive, at the Hilton Orlando , three of their restaurants are having special menu items on Thursday including Spencer s for Steaks and Chops, David s Club, and The Bistro. Spencer s for Steaks and Chops will feature dishes like Roasted Butternut Squash Bisque with Fried Sage $9.50, Crab Cake with Candied Prosciutto, heirloom tomato, egg, hollandaise $17.25, Traditional Oven Roasted Turkey with Savory Duck Bread Pudding, Spaghetti Squash, Cranberry, Cippolini Onion Gravy $29.50, Scottish Salmon hotels in thailand with Sunchoke Risotto, Beets, Arugula Pesto, Mushrooms $33.50, and more. Check out the specials here.
Winter Park, FL – (October 30, 2012) – Leave the cooking to us this holiday season. Mitchell's Fish Market, located hotels in thailand in Winter Park Village, will be offering a fabulous Thanksgiving Day feast on Thursday, November 22 from 11:00a.m. to 7:00p.m. The menu will be featuring a delicious three-course traditional meal featuring oven-roasted turkey served with apple-herb stuffing along with a choice of starter, side and dessert.
The price is $24.99 for adults, $8.99 for children ages 12 and under. Complimentary valet parking. Reservations are strongly recommended and can be made by calling (407) 339-3474. For guests who crave their signature items, they will also be offering their regular dinner menu.
Mitchell's Fish Market, Winter Park offers upscale dining for lunch and dinner in a fun, relaxed atmosphere. The menu is ever changing and offers 80 fresh seafood hotels in thailand choices and it is printed twice daily. The catch and carry menu offers fresh fish, soup and sauces, steak and shellfish, fresh baked desserts, hotels in thailand party platters and select items from the raw bar. Dining options include the main dining room, al-fresco dining on the patio, bar dining, and private dining hotels in thailand for parties up to 36 guests. The wine list offers hotels in thailand selections from wine regions from all over the world and the bar menu features happy hour, signature martinis hotels in thailand and fresh squeezed juice is served with select cocktails. Hours are lunch: Monday – Saturday, 11:30 AM 4:00 PM, Sunday, 11:30 AM 3:00 PM. Dinner is served Monday – Thursday, 4:00 PM 11:00 PM, Friday hotels in thailand Saturday, 4:00 PM 12:00 AM and Sunday, 3:00 PM 10:00 PM. For reservations, please call (407) 339.3474 www.MitchellsFishMarket.com. 460 North Orlando Avenue, Winter Park.
Florida native Ricky Ly founded TastyChomps.com in 2008 as a local Orlando food blog dedicated to finding the tastiest bits and pieces of Orlando as well as around the world. His first book, Food Lovers' Guide to Orlando: The Best Restaurants, Markets Local Culinary Offerings (Food Lovers' Series) is available for pre-order now on Amazon.com and Barnesandnoble.com. Stay up to date on the latests blog posts, restaurant reviews, menus, specials, and more by Liking TastyChomps on Facebook.com/tastychomps hotels in thailand and Follow us on Twitter.com/TastyChomps as well as subscribing to our E-newsletter on the links on the right ! To Contact Us, e-mail us at tastychomps(at)gmail.com
TastyChomps.com is dedicated to finding the tastiest bits and pieces in Orlando as well as chronicling the latest foodie happenings and reviews in Central Florida and around the world. Follow us below or e-mail us at tastychomps@gmail.com