HCC, Wall Street, resignations

Brian222golf · 10-09-2008, 07:49 PM

I was wondering if any members have spoken with HCC to see if this wall street crises is effecting their business.

Are they still planning on purchasing the properties that they talked about in the Sept. news letter?

Are there any members on the resignation list?

Have they continued to increase the membership?

Any answers??

Steamboat Bill · 10-09-2008, 08:34 PM

I spoke with Heath a few days ago about the same things.

He said business is still going well, but I did not get the numbers from him. He did indicate that a few potential members mentioned the economy to him and that may influence their decision making.

Some potential new members are looking at joining HCC as a way to simply enjoy some of their money that they pulled out of the market as they feel it is almost free money.

I can only wish that I would have converted more of my stocks to fixed income. It is hard not to get depressed at the melt-down, but it really makes me appreciate the finer things in life - my family and the vacations we enjoy together.

The three weeks of HCC travel during 2008 were definitely highlights of the year
January in Stowe
June in Big Island Hawaii
June in Maui

pwrshift · 10-09-2008, 10:22 PM

In a way I'm glad I bought a fair number of US stocks over the last year ... recently the Cdn dollar fell to 90 cents as our commodities fell along with everything else. The rise of the US dollar against the Cdn$ partially offset losses on the US stocks for me...nice change from previous years. Canada's exports always prospered when our dollar was low, but as the largest trading partner of USA we're feeling the pinch here too. Fear is catching. I'm on holiday in the US right now for two weeks and hate turning on the TV.

Bourne · 10-09-2008, 11:08 PM

Subtle points regarding HCC that go a long way in this environemnt...

1. HCC grew from 300 to 375 this year. Though multiple properties came online, only Cancun and Lake Tahoe are new dollars spent. Maui and Steamboat were private equity. Bulk of money for OBX was paid prior to 2008 and Costa Rica/Breck are leases. The point I am driving is HCC is hoarding cash and not spending ahead of the curve.

2. Cash infusion at the starting of the year did not directly translate into more properties. It was either used to pay down loans or bulk up cash in hand.

3. Personal opinion. Steamboat Ranch house is an insurance policy that is probably not going to come online. Had reservations about the location/viabiliy of the property from a DC standpoint.

HCC is probably in a strong position financially. Let's see how they play the downturn out.

safigan · 10-10-2008, 03:01 PM

One data point: I've been on the resignation waiting list for 2 months.

Bourne · 10-10-2008, 04:25 PM

Quote:

Originally Posted by safigan

One data point: I've been on the resignation waiting list for 2 months.

Out of curiosity, what level of membership are(were) you at.

If you are a companion member, things don't look right. However, at Private level(45 days) it would make sense.

safigan · 10-10-2008, 05:10 PM

I have an introductory 7-day membership. I'm on the resignation list, but I don't know how many others are on it, where I am on the list, or when I can expect them to accept my resignation.

Bourne · 10-11-2008, 01:09 PM

Quote:

Originally Posted by safigan

I have an introductory 7-day membership. I'm on the resignation list, but I don't know how many others are on it, where I am on the list, or when I can expect them to accept my resignation.

HCC is pretty open about information regarding the club.

Apologize for the pointed questions but...

Is the introductory 7-Day membership classified as "Companion" or the original "Trial membership".

There is a subtle difference between the two in terms of cancellation.

Phila Family · 10-11-2008, 11:41 PM

Quote:

Originally Posted by safigan

I have an introductory 7-day membership. I'm on the resignation list, but I don't know how many others are on it, where I am on the list, or when I can expect them to accept my resignation.

Safigan, why leaving?

Rob

safigan · 10-13-2008, 04:43 PM

Sorry for the delay in replying, I don't check this board regularly.

I have a TRIAL membership. Here's what my agreement says: "The Club has established a schedule of Members who would like the Club to sell their Membership and the date of their request and will sell one resigned Membership (based on priority of the date of the resignation) for every two new Memberships, of an equivalent class, that are sold by the Club (for example, a Trial member with up to 7 days of usage would need the Club to sell 1 new Associate Membership)."

To me, the example changes my whole interpretation of what came before it, but it's seems pretty explicit that they would only need to sell just one Associate membership in order to accept the resignation of a Trial member.

I'm leaving because I bought entry-level memberships to both HCC and ER with the intent of dropping one and upgrading the other. After a year, I decided to go with ER, but it wasn't an easy decision as HCC met my expectations and it was a WHOLE lot cheaper. In retrospect, I'm kind of glad ER has my deposit, otherwise I would have lost much of it in the stock market!

pwrshift · 10-16-2008, 09:43 PM

Quote:

Originally Posted by safigan

One data point: I've been on the resignation waiting list for 2 months.

I thought I had read here that HCC had NO resignations pending, thus no holdup on giving you your money back. If that was the case, how come there's a delay in getting them to pay you back?

Phila Family · 10-17-2008, 12:23 AM

and why go with ER when you seem to have nice impressions of HCC?

DCTraveler · 10-17-2008, 04:57 PM

Quote:

Originally Posted by safigan

One data point: I've been on the resignation waiting list for 2 months.

I think that there are some different terms flying around here. No matter when you decide to resign HCC, don't you always have to finish your membership year. So if you resign 5 months into your year and then 3 months later they have the 2 in 1 out fulfilled, you still continue to pay monthly dues (and to travel) for 4 more months before getting your membership deposit refunded. Can you please tell us exactly where you are in which part of the process?

Bourne · 10-17-2008, 06:43 PM

Quote:

Originally Posted by DCTraveler

I think that there are some different terms flying around here. No matter when you decide to resign HCC, don't you always have to finish your membership year. So if you resign 5 months into your year and then 3 months later they have the 2 in 1 out fulfilled, you still continue to pay monthly dues (and to travel) for 4 more months before getting your membership deposit refunded. Can you please tell us exactly where you are in which part of the process?

Those are the rules for the "TRIAL" membership. As mentioned before, there is a subtle difference between the Trial and Companion. For the Trial version, you have to wait the whole 12 month period...

All other membership categories do not adhere to this rule.

sercano · 10-17-2008, 07:09 PM

You wont regret going with ER

Quote:

Originally Posted by safigan

Sorry for the delay in replying, I don't check this board regularly.

I have a TRIAL membership. Here's what my agreement says: "The Club has established a schedule of Members who would like the Club to sell their Membership and the date of their request and will sell one resigned Membership (based on priority of the date of the resignation) for every two new Memberships, of an equivalent class, that are sold by the Club (for example, a Trial member with up to 7 days of usage would need the Club to sell 1 new Associate Membership)."

To me, the example changes my whole interpretation of what came before it, but it's seems pretty explicit that they would only need to sell just one Associate membership in order to accept the resignation of a Trial member.

I'm leaving because I bought entry-level memberships to both HCC and ER with the intent of dropping one and upgrading the other. After a year, I decided to go with ER, but it wasn't an easy decision as HCC met my expectations and it was a WHOLE lot cheaper. In retrospect, I'm kind of glad ER has my deposit, otherwise I would have lost much of it in the stock market!

TravelGuy · 10-17-2008, 09:20 PM

Quote:

Originally Posted by pwrshift

I thought I had read here that HCC had NO resignations pending ...

Mr. P.

That was true earlier in the year. The most recent HCC update was a 3% resignation rate (as of last week). This seems very acceptable considering that the "Trial" membership program was designed to allow easy resignation after the first year, if the member chooses to do so. Also, I'm sure that the current economic "conditions" have increased resignations at all DCs. Such is the cycle of economic life. Now if we could keep the Markets to losses of only 3%!

10-09-2008, 07:49 PM	#1
Brian222golf Member Join Date: Dec 2007 Posts: 34 Club: High Country Club - Corporate	HCC, Wall Street, resignations I was wondering if any members have spoken with HCC to see if this wall street crises is effecting their business. Are they still planning on purchasing the properties that they talked about in the Sept. news letter? Are there any members on the resignation list? Have they continued to increase the membership? Any answers??

10-09-2008, 08:34 PM	#2
Steamboat Bill Senior Member Join Date: Nov 2007 Posts: 363 Club: High Country Club	re: HCC, Wall Street, resignations I spoke with Heath a few days ago about the same things. He said business is still going well, but I did not get the numbers from him. He did indicate that a few potential members mentioned the economy to him and that may influence their decision making. Some potential new members are looking at joining HCC as a way to simply enjoy some of their money that they pulled out of the market as they feel it is almost free money. I can only wish that I would have converted more of my stocks to fixed income. It is hard not to get depressed at the melt-down, but it really makes me appreciate the finer things in life - my family and the vacations we enjoy together. The three weeks of HCC travel during 2008 were definitely highlights of the year January in Stowe June in Big Island Hawaii June in Maui

10-09-2008, 10:22 PM	#3
pwrshift Senior Member Join Date: Nov 2007 Posts: 344	re: HCC, Wall Street, resignations In a way I'm glad I bought a fair number of US stocks over the last year ... recently the Cdn dollar fell to 90 cents as our commodities fell along with everything else. The rise of the US dollar against the Cdn$ partially offset losses on the US stocks for me...nice change from previous years. Canada's exports always prospered when our dollar was low, but as the largest trading partner of USA we're feeling the pinch here too. Fear is catching. I'm on holiday in the US right now for two weeks and hate turning on the TV.

10-09-2008, 11:08 PM	#4
Bourne Senior Member Join Date: Nov 2007 Location: 60601 Posts: 485 Club: High Country Club, Pinnacle Yachts	re: HCC, Wall Street, resignations Subtle points regarding HCC that go a long way in this environemnt... 1. HCC grew from 300 to 375 this year. Though multiple properties came online, only Cancun and Lake Tahoe are new dollars spent. Maui and Steamboat were private equity. Bulk of money for OBX was paid prior to 2008 and Costa Rica/Breck are leases. The point I am driving is HCC is hoarding cash and not spending ahead of the curve. 2. Cash infusion at the starting of the year did not directly translate into more properties. It was either used to pay down loans or bulk up cash in hand. 3. Personal opinion. Steamboat Ranch house is an insurance policy that is probably not going to come online. Had reservations about the location/viabiliy of the property from a DC standpoint. HCC is probably in a strong position financially. Let's see how they play the downturn out. __________________ The Nile is a river in Egypt......

10-10-2008, 03:01 PM	#5
safigan Junior Member Join Date: Apr 2008 Posts: 22 Club: High Country Club, Exclusive Resorts	re: HCC, Wall Street, resignations One data point: I've been on the resignation waiting list for 2 months.

10-10-2008, 05:10 PM	#7
safigan Junior Member Join Date: Apr 2008 Posts: 22 Club: High Country Club, Exclusive Resorts	re: HCC, Wall Street, resignations I have an introductory 7-day membership. I'm on the resignation list, but I don't know how many others are on it, where I am on the list, or when I can expect them to accept my resignation.

10-13-2008, 04:43 PM	#10
safigan Junior Member Join Date: Apr 2008 Posts: 22 Club: High Country Club, Exclusive Resorts	re: HCC, Wall Street, resignations Sorry for the delay in replying, I don't check this board regularly. I have a TRIAL membership. Here's what my agreement says: "The Club has established a schedule of Members who would like the Club to sell their Membership and the date of their request and will sell one resigned Membership (based on priority of the date of the resignation) for every two new Memberships, of an equivalent class, that are sold by the Club (for example, a Trial member with up to 7 days of usage would need the Club to sell 1 new Associate Membership)." To me, the example changes my whole interpretation of what came before it, but it's seems pretty explicit that they would only need to sell just one Associate membership in order to accept the resignation of a Trial member. I'm leaving because I bought entry-level memberships to both HCC and ER with the intent of dropping one and upgrading the other. After a year, I decided to go with ER, but it wasn't an easy decision as HCC met my expectations and it was a WHOLE lot cheaper. In retrospect, I'm kind of glad ER has my deposit, otherwise I would have lost much of it in the stock market!

10-17-2008, 12:23 AM	#12
Phila Family Senior Member Join Date: Jun 2008 Location: Bryn Mawr, PA Posts: 108 Club: High Country Club	re: HCC, Wall Street, resignations and why go with ER when you seem to have nice impressions of HCC?

10-17-2008, 10:17 PM	#17
Tedpilot Senior Member Join Date: Nov 2007 Location: Oklah