The Fall of 'New Money' Country Clubs
Filed under: Wealth
It has certainly happened before and as much as it stinks to draw another comparison to the Great Depression it seems country clubs made of 'new money' may follow the same path as one-third of the clubs did back then. Across the U.S. clubs are shutting their gates and greens one after another from the Gold Creek Golf Club in Dawsonville, Georgia to Golf Club of California in San Diego. Even Sea Island in coastal Georgia, which once ranked near the top in golf courses of the nation, recently laid off 400 employees.
As quickly as individuals came into fresh cash it disappeared on Wall Street and the like. $85,000 entrance fees once meant to keep the unworthy out have been reduced to free! I guess the 'old' clubs will continue to hang on -- that's how they earned the term 'old'.
12 Common Workout Myths Debunked
Forbidden America: Cold War-Era Map Shows No-Go Zones For Soviet Tourists
Powerball Jackpot Winning Ticket Purchased In Florida
Tenants: Stench of Death Makes St. Louis Complex 'Unlivable'
Chili's Waitress Fired Over Facebook Post Insulting 'Stupid Cops'
Courtney Stodden Has A Sex Tape
Man Takes Dump In Background Of Instructional Workout Video
Ricardo Cerezo, Facing Eviction, Finds $4.85 Million Lottery Ticket
How Kidnapping Suspect Passes Time Behind Bars
2013 Billboard Music Awards: Arrivals Photos From the Blue Carpet!
MIT's cheetah robot runs faster, more efficiently, can carry its own power supply (video)
Police Investigate Student Shooting Death
Forever 21 Worker Fired After She Tells Her Traumatic Story
2013 Billboard Music Awards: All the Winners!
LOOK: Dolphins Make Rare Underwater Find
Taylor Swift Q and A: What Does She Splurge on in Las Vegas?
River Lost 150 Pounds: 'There Is Hope. Grab Onto It'
Radio Host Makes Shocking Claim About Shooting Hillary Clinton
PHOTOS:Eva Longoria's Almost Wardrobe Malfunction At Cannes
These American Companies Refused To Sign The Bangladesh Safety Accord
Obama Approval Rating Not Hurt By Scandals
Marine Reunited With Four-Legged Friend
PREGNANT!
PHOTO: Looking Good! Chaz Bono Loses 65 Pounds
Teen Who Died During Her First Solo Drive May Have Been Texting
Former OJ Attorney Gives Shocking Testimony
Student Shot Dead During Botched Home Invasion
Guess Which State Boasts The Most Million-Dollar Homes?
McDonald's Store Owners Fear Fast Food Chain Becoming Too Slow
New Leads In Case Of Missing British Girl