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Bob Harris

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LuLu CC to be sold?
« on: May 21, 2009, 11:50:20 AM »
It is my understanding that the Board of Governors voted to accept a proposal to sell the club to a local golf club management firm.  The proposal now goes to the membership for final approval.
« Last Edit: January 26, 2012, 09:29:29 AM by Bob Harris »
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Joel_Stewart

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #1 on: May 21, 2009, 02:00:38 PM »
I had a converstaion today with a person in the golf business saying there are a number of groups out there that are trying to buy golf courses on the cheap.   Will be interesting to see the price?
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Rick Sides

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Re: LuLu CC to be sold?
« Reply #2 on: May 21, 2009, 09:22:59 PM »
Do you think LuLu will remain private?
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Mike_Cirba

Re: LuLu CC to be sold?
« Reply #3 on: May 21, 2009, 09:36:13 PM »
What a totally depressing turn of events.

Hopefully, the golf course will survive because it's very worthy and I do understand the economic forces that cause a membership to seek alternatives.

Tough times suck.
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Kyle Harris

Re: LuLu CC to be sold?
« Reply #4 on: May 21, 2009, 09:50:52 PM »
Quote from: MCirba on May 21, 2009, 09:36:13 PM
What a totally depressing turn of events.

Hopefully, the golf course will survive because it's very worthy and I do understand the economic forces that cause a membership to seek alternatives.

Tough times suck.

Why depressing?

This happens a lot.
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Mike_Cirba

Re: LuLu CC to be sold?
« Reply #5 on: May 21, 2009, 09:52:46 PM »
Quote from: Kyle Harris on May 21, 2009, 09:50:52 PM
Why depressing?

This happens a lot.

Because I have some friends who are members and I know how much they love that golf course and how much work they put into it over the past decade or so to get it back closer to the original Ross vision.
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Bob Harris

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #6 on: May 21, 2009, 09:55:13 PM »
Quote from: Rick Sides on May 21, 2009, 09:22:59 PM
Do you think LuLu will remain private?

Yes, the plan is to stay private.  For the business plan to be successful, retaining the current membership is most important.
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #7 on: May 21, 2009, 09:56:02 PM »
LuLu was mentioned in this article:

http://www.timesherald.com/articles/2009/04/20/sports/doc49ed3031e3200615388728.txt

The management company that is interested currently operates another nearby private club. Perhaps they're thinking of a dual membership arrangement.

From what certain members of another management company said recently to me, there are very few private clubs around that are worth more than 2M is this market.

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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Mike_Cirba

Re: LuLu CC to be sold?
« Reply #8 on: May 21, 2009, 09:56:57 PM »
Perhaps I'm missing the point.

My limited understanding was that the future viability and/or existence of the golf course and membership was in jeopardy.

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Kyle Harris

Re: LuLu CC to be sold?
« Reply #9 on: May 21, 2009, 09:58:23 PM »
Quote from: MCirba on May 21, 2009, 09:52:46 PM
Quote from: Kyle Harris on May 21, 2009, 09:50:52 PM
Why depressing?

This happens a lot.

Because I have some friends who are members and I know how much they love that golf course and how much work they put into it over the past decade or so to get it back closer to the original Ross vision.

This is probably the best way to keep that vision alive and breathing.

*Just saw your latest post* Yes, no reason to panic or jump the gun. Economies of scale are working in Lulu's favor here.
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #10 on: May 21, 2009, 10:00:46 PM »
I think the only thing that may be in jeopardy here is the continued existence of their "quaint" but outdated "throwback" clubhouse.

« Last Edit: May 21, 2009, 11:19:38 PM by Steve_ Shaffer »
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Kyle Harris

Re: LuLu CC to be sold?
« Reply #11 on: May 21, 2009, 10:01:27 PM »
Quote from: Steve_ Shaffer on May 21, 2009, 10:00:46 PM
I think the only thing that may be in jeopardy here is the continued existence of their "quaint" but outdated clubhouse.



Wonder if that opens up the possibility of restoring the 12th tee to its original location.
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Mike Hendren

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #12 on: May 22, 2009, 09:14:19 AM »
I read this thread with great disappointment yesterday as I was sporting my LuLu shirt and enjoying the inevitable questions about one of the best logo's in golf. 

Gib Papazian once commented about a course to the effect that "why does architecture need to be any more than this?"  That sums up my feelings about LuLu.  I have been fortunate to play many courses that are greater that LuLu, but would rank it highly on places I'd like to be a member, INCLUDING the rather frumpy clubhouse and help yourself lemonade on the patio.  In so many ways it reminded me of where Holston Hills was just a couple of decades ago before it was "discovered" by the cognoscenti.  The phrase "golf as it was meant to be" has been co-opted by slick marketing campaigns, but geniunely fits both Holston Hills and Lulu perfectly. 

The membership appears to have exercised solid stewardship over their club and course over recent years and I fervently hope that continues, though the profit motive often diminishes what is great about almost any enterprise.   

With apologies to Lee Buck Trevino, I love LuLu and I don't even know her last name.

Bogey
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Two Corinthians walk into a bar ....

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #13 on: August 10, 2009, 11:49:12 AM »
Breaking news: Lulu rejects purchase offer,open space money is possible

http://montgomerynews.com/articles/2009/08/09/ambler_gazette/news/doc4a78fe7d7a350581962151.txt
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #14 on: August 10, 2009, 08:34:08 PM »
I was asked in a private message how a club with only 131 equity members could turn down an offer and survive. The answer is that LuLu offers an annual membership without an initiation fee and sells a decent number of these including other types of non-voting memberships plus they have a fairly active banquet business.


http://www.lulucc.com/golf/proto/lulucc/request_membership/request_membership.htm
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #15 on: August 10, 2009, 09:23:04 PM »
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #16 on: September 22, 2009, 12:02:34 PM »
Open Space money approved by township....More breaking news:

http://www.thereporteronline.com/articles/2009/09/13/news/srv0000006351928.txt
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Jim_Kennedy

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #17 on: September 22, 2009, 12:20:11 PM »
That's good news, course gets saved and town gains open space. It's a model that can be adopted elsewhere.
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"I never beat a well man in my life" - Harry Vardon

Mike Sweeney

Re: LuLu CC to be sold?
« Reply #18 on: September 22, 2009, 12:45:59 PM »
Quote from: Jim_Kennedy on September 22, 2009, 12:20:11 PM
That's good news, course gets saved and town gains open space. It's a model that can be adopted elsewhere.

Jim,

If the taxpayers get some sort of rights to access the course (weekdays, off season, weekend afternoons......), I agree with you. Otherwise it looks like taxpayer money being used to preserve a private club that can't support itself. If I am a non-member taxpayer and now I just get to continue to drive past the same club that is using my tax dollars, then it has a bad taste in my view. I don't know the town or the area, but that is my view from afar.

$2.0 million is alot of money, IMO.
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JESII

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #19 on: September 22, 2009, 02:15:06 PM »
LuLu is about 5 minutes from my home and is a really cool course, as much fun as you could ever want to have on a golf course...I hope this provides an opportunity for the membership to rebound strongly over the next several years. LuLu is a great asset in the Philadelphia golf community.
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astavrides

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #20 on: September 22, 2009, 02:23:07 PM »
Quote from: Jim Sullivan on September 22, 2009, 02:15:06 PM
LuLu is about 5 minutes from my home and is a really cool course, as much fun as you could ever want to have on a golf course...I hope this provides an opportunity for the membership to rebound strongly over the next several years. LuLu is a great asset in the Philadelphia golf community.

How is it a great asset to those in the Philadelphia golf community who don't belong to and don't want to belong to a private club?
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Jim_Kennedy

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #21 on: September 22, 2009, 02:39:21 PM »
Mike,

Yes, access would be a very good thing and some should be required, but I don't know if that should be a deal breaker. It doesn't appear that the club will be relieved of their property tax burden, possibly just the difference between open space and development land. It's almost like the best of both worlds, i.e., an open space, tax-paying, employee hiring entity that doesn't put the substantial burden on the system that homesites would.
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"I never beat a well man in my life" - Harry Vardon

JESII

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #22 on: September 22, 2009, 02:41:36 PM »
Alex,

I didn't realize private clubs were excluded from the Philadelphia Golf Community. What's the point of that? What then does consist of the Philadephia Golf Community?

I do not and have no intention of buying season tickets to any of the local sports teams, am I allowed to be a fan?
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Bob Harris

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #23 on: September 22, 2009, 03:09:40 PM »
Quote from: Jim Sullivan on September 22, 2009, 02:15:06 PM
LuLu is about 5 minutes from my home and is a really cool course, as much fun as you could ever want to have on a golf course...I hope this provides an opportunity for the membership to rebound strongly over the next several years. LuLu is a great asset in the Philadelphia golf community.

I agree, but would LuLu be any less of an asset to the community if like Commonwealth, French Creek, Hartefeld, The Ace Club, Galloway, Hidden Creek  and at least 10 of other local courses, the course was owned by a management company rather than by the members?     
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JESII

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #24 on: September 22, 2009, 03:22:40 PM »
Not sure Bob...my comment was more pointed at the nature of the golf course as opposed to the ownership structure.

I seem to recall some wording in the purchase offer about keeping it as a golf course for a couple of years and took that as a sign that the plan would be to turn it to housing when the market turned...maybe I read it wrong and that housing was never intended. Which is it?
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