Lake Guntersville Topics: Maybe you're right

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	Name:	Catherine -
	Subject:	Maybe you're right
	Date:	4/25/2012 9:44:31 PM

Who knows for sure. All I'm saying is their actions the last year and a half appear more those of a company struggling to generate cash, than a company with a plan and a comfortable financial position. I'm sure Willow Point does well, and the HOA fees are mostly profit, but look at their overhead. After paying the country club and maintenance staffs, they still have a lot of payroll to make. They have about 14 VPs of something or other in the main office. Each of those are probably making 6 figures. So the administrative overhead alone has got to be outrageous. Tom's salary may be 7 figures, and Ben's certainly is. The Crossroads has to be hemorrhaging cash. There are more people working at the Crossroads than the marinas, and they never appear to be busy at all.

And what is the monthly payment on a $40,000,000.00 commercial loan (that's the number I've heard thrown about).

Obviously, Ben has plenty of money (how much did he give to Children's Hospital? Wasn't it $25 Million?) Maybe he is floating the company, and maybe he is just cracking the whip on the office monkeys and they are reacting in a way that gives me that impression?

Who really knows. All I know is what it looks like to me. And I have a feeling they are hurting for cash, much worse than any of us will ever know. The sudden sales of previous rental properties, in areas that are not part of current developments, when there is plenty of available inventory in those current developments, seems desperate to me. Maybe its just stupid, but I think there's more to it than just stupid.