Tom Doak,
How many NLE's do you have? I know of two up in northern Mich which are NLE due to owner issues, definitely independent of the gca..
Any others?
It's a long list:
High Pointe
Black Forest [I think; they were still scraping along until last year]
Charlotte Golf Links [that's 3 of my first 5; it was only a 25-year lease so it was destined to close from the start]
Beechtree
The Sheep Ranch
Aetna Springs 9 holes [had it stayed open it would have been destroyed by fire this summer]
Bay of Dreams [finished but never really opened]
Wicked Pony [abandoned due to financing issues during the financial crisis in 2008 with nine holes grassed]
Simapo Island [finished but never opened due to Chinese government mandate]
So that's 20% of my new designs, gone. Capitalism at its finest I guess.