RE:RE:Rounds played stats.Ok, golf, 128 million in rev last year, direct costs 74.
Thats over $2 per share per year in grazing.
A quick look at the balance sheet. 328 million in non golf assets. Just under $14 a share.
So, at 16$ you get the grazing rights for one times.
The key to this business over the years was the free cash. First, the huge contribution from, then the eventual sale of the White Pass.
Meanwhile we have over 15,000 folks sending us major cash every January from annual membership sales. Golf is free cash flows. Will it have value, let's see if Clubcorp goes public in the next few years. That would be a comparable.
The eventual payday here is an asset sale for the land. We have seen plenty of sales so far, and we are aware of every land play in the portfolio.
Meanwhile, 2 on 16 is a pretty decent cash yield.
Finally, I am not going to engage anymore on the speculation of who may be "dirty" either here or at MPC.
I have not seen any evidence. And, it is hard enough to stay positive in bear markets.
I believe you are mistaking old fashion corp stupidity rather than fraud.
HG is a screw up. I do not want Rai selling houses going forward. My guess, we give up a lot of the return there trying to get out. Is HG it bad enough to sell? no chance.