Wednesday, September 06, 2006

Cruel Cruel Summer

It seems that those high brow time share resorts that let you pay a few hundred thousand clams for the right to visit "destinations" (including fly fishing resorts) around the globe haven't exactly had a stellar year.

"This summer's Chapter 11 filing by industry pioneer Tanner & Haley rocked the nascent sector. In its quest to avoid refusing member travel requests at properties that were already booked, Tanner & Haley entered into costly leases to offer compatible digs. It proved to be an unsustainable practice, and coupled with a few unsuccessful investments, it meant reorganization seemed to be the best strategy for the company to get back on its feet"

Link to the article via (The Motley Fool and MSNBC)

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