The company has said that the press reports are misleading. They have simply pulled back on development plan applications and LPAT.
TWC still owns Glen Abbey, and they can still make applications for development.
What has been given up was a clear timeline.
Politics change, the need for housing may trump NIMBY in time.
If courses like Beacon Hall can get 260 million bids, without any clear development path, GA is probably worth at least as much. I think they could get a 500 million bid tommorow as it is.
This event has clearly opened the door for a going private bid at a lower price point.
Sahi may be able to take advantage of shareholder frustration and seal the deal.
As I mentioned, I am replacing the stock I sold last week at several dollars less per share.