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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #100 on: May 10, 2011, 11:09:30 PM »
Joe Logan reports that a new management company has been hired- www.CanongateGolf.com   of Atlanta:

www.myphillygolf.com/detail.asp?id=8612

Canongate currently manages 2 other area courses,both in Chester County- Hartefeld and Broad Run.

The current LuLu President is a VP of another golf management company.

« Last Edit: May 10, 2011, 11:16:17 PM by Steve_ Shaffer »
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #101 on: September 27, 2011, 05:04:09 PM »
There seems to have been a recent exodus of some long standing members(about 20) to  other clubs in the area- Blue Bell and Commonwealth.

Needless to say, this will reduce cash flow next year, if there is a next year.

The new management company may be on the way out.

The course had a bad summer with the high heat and humidity followed by Hurricane  Irene and subsequent heavy rains. I've heard that 4 holes are now closed for repair.

The good news is that some new potential buyers are lurking.
« Last Edit: September 27, 2011, 05:46:18 PM by Steve_ Shaffer »
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Joe Bausch

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #102 on: September 27, 2011, 05:14:14 PM »
Quote from: Steve_ Shaffer on September 27, 2011, 05:04:09 PM
There seems to have been a recent exodus of some long standing members(about 20) to  other clubs in the area-

This could be viewed as a positive for the club and the remaining members.
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #103 on: September 27, 2011, 05:32:11 PM »
Joe,

Perhaps, but not for cash flow.
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Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Joe Bausch

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #104 on: September 27, 2011, 05:34:39 PM »
Quote from: Steve_ Shaffer on September 27, 2011, 05:32:11 PM
Joe,

Perhaps, but not for cash flow.

Yes, probably not for immediate cash flow.

But for long term health, it could be just what is needed.
« Last Edit: September 27, 2011, 05:55:25 PM by Joe Bausch »
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

Joe Bausch

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #105 on: September 27, 2011, 05:59:53 PM »
I played LuLu earlier this summer with a couple of GCAers and it was in fine shape.   I snapped photos of the course a couple of falls ago, then added in a few from earlier this summer, so a combo photo album of well over 100 pics (1400 pixels wide) are available here:

http://xchem.villanova.edu/~bausch/images/albums/lulu/

Enjoy!

 ;D
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

Mike Hendren

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #106 on: September 28, 2011, 03:14:51 PM »
Quote from: Joe Bausch on September 27, 2011, 05:59:53 PM
I played LuLu earlier this summer with a couple of GCAers and it was in fine shape.   I snapped photos of the course a couple of falls ago, then added in a few from earlier this summer, so a combo photo album of well over 100 pics (1400 pixels wide) are available here:

http://xchem.villanova.edu/~bausch/images/albums/lulu/

Enjoy!

 ;D


Joe, would you consider the 2nd to be an Alps w/ Punchbowl or is that a stretch?

Mike
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Joe Bausch

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #107 on: September 28, 2011, 03:26:05 PM »
Quote from: Michael_Hendren on September 28, 2011, 03:14:51 PM
Quote from: Joe Bausch on September 27, 2011, 05:59:53 PM
I played LuLu earlier this summer with a couple of GCAers and it was in fine shape.   I snapped photos of the course a couple of falls ago, then added in a few from earlier this summer, so a combo photo album of well over 100 pics (1400 pixels wide) are available here:

http://xchem.villanova.edu/~bausch/images/albums/lulu/

Enjoy!

 ;D


Joe, would you consider the 2nd to be an Alps w/ Punchbowl or is that a stretch?

Mike

Mike, I think that is a pretty good description of the hole.  And it is a good one!
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #108 on: November 03, 2011, 08:44:38 PM »
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #109 on: December 13, 2011, 08:28:35 AM »
Here's the latest from Joe Logan. Semi-private? Recapitalization of debt? Longshot?

http://www.myphillygolf.com/blogs.asp?blogid=1
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Mike Hendren

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #110 on: December 13, 2011, 09:35:56 AM »
I hope the clubhouse renovation is only a fraction of the proposed capital improvements of $800,00.   The frumpty upstairs metal locker room oozes comfort and the grill is more than adequate.  Why financially jeopardize a fantastic golf course for a few more creature comforts?  A new roof and HVAC is understandable.  As much as I love LuLu I wouldn't want to belong to a club that is that short-sighted.  The last thing this club needs is a self-inflicted wound.

Mike
« Last Edit: December 13, 2011, 09:38:17 AM by Michael_Hendren »
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Jeffrey Conners

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #111 on: December 13, 2011, 05:30:03 PM »
I agree with Mr. Hendren about the clubhouse.  The money should go into maintaining the course, which is a lot of fun to play.

I must say that Glen Ross Partners, LLC is an unfortunate name for a new venture hoping to attract investors.   
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Mike_Trenham

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #112 on: December 13, 2011, 05:46:20 PM »
Show me the Glengarry leads.
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Patrick_Mucci

Re: LuLu CC to be sold?
« Reply #113 on: December 13, 2011, 06:25:58 PM »
Steve,

I've long held that a country/golf club should NEVER have a penny of debt.

Debt, at a country/golf club is often the kiss of death.

It's a short sided perspective that creates debt.

I blame the leadership and members who allowed the club to acquire debt.

Without debt, their problems would be far more manageable.

"PAY AS YOU GO", is the best policy.
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #114 on: December 13, 2011, 08:01:49 PM »
Pat,

I think the "Recap" proposal is a longshot. I could be wrong but time will tell.

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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
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Ben Hogan “The most important shot in golf is the next one”

Bruce Katona

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #115 on: December 16, 2011, 10:10:56 AM »
Anyone hear/read any more on the outcome of the membership meeting?
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #116 on: December 16, 2011, 01:19:38 PM »
My understanding is that the members were given until tonight to make   their decision to "invest."
« Last Edit: December 16, 2011, 03:15:37 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”

Bruce Katona

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #117 on: December 19, 2011, 12:35:51 PM »
any more news Steve?

Thanks, Bruce
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Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #118 on: December 19, 2011, 04:11:40 PM »
Bruce,

Take a look at the new comments in the recent article.



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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 #119 on: December 24, 2011, 01:17:15 PM »
For some reason, Joe Logan's recent article has been removed.


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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
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Ben Hogan “The most important shot in golf is the next one”

Steve_ Shaffer

  • Karma: +0/-0
Re: LuLu CC to be sold?
« Reply #120 on: January 03, 2012, 11:39:19 AM »
I understand that the club's refi proposal referenced in the removed Joe Logan article did not materialize.

The club's centennial is this year. What happens remains to be seen.
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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 #121 on: January 11, 2012, 05:27:55 PM »
The saga continues. More news is expected this weekend.


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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 #122 on: January 16, 2012, 07:28:42 PM »
Joe Logan reports on his interview with the club President. "January is the month of reckoning"
They are down to 72 equity mebers.


http://myphillygolf.com/detail.asp?id=10753
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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 #123 on: January 26, 2012, 01:49:11 AM »
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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 #124 on: January 26, 2012, 09:45:58 AM »
Breaking news....Joe Logan reports a new deal is close. A long term  lease offer is on the the table:

"The basic thrust is that, under the terms to be set forth in a long-term lease-management agreement, RAM is willing to invest significant funds, to be used for working capital, necessary investment in specific Greens equipment that we currently lack and urgently need, and capital improvements to the clubhouse," Muller wrote to members. "The golf course will remain as the club’s greatest asset, and its conditions have our complete focus."

http://www.myphillygolf.com/detail.asp?id=10792&pid=20

RAM's website is not informative: http://www.ramgolfmanagement.com/About-Us.html

What other courses/clubs do they manage besides Yardley CC?

Here's the CEO:

http://www.linkedin.com/pub/danny-mays/34/8b3/945
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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."
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