BFC Financial's losses continue to grow...

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

BFC Financial widens Q2 losses - South Florida Business Journal

Do you think this will have an impact on the club? They have lost a ton of money the last few years...

[rapmarks Moderator Find all posts View Profile Close rapmarks]

surprised to hear it. My neighbor works for Bluegreen in sales/marketing. I am sure his salary is $400 K a year. He just bought two lots in the neighborhood to build a new house, over 5000 square feet plus walk out basement plus a garage big as my house. He knows he will have a hard time selling his current house, to which he has poured in at least 120 grand changing things. he also owns a weekend condo about a half hour away that is bigger than his current house. He is late 30's, no children, wife doesn't work. The long term sales staff seems to be doing well too.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

BFC Financial widens Q2 losses - South Florida Business Journal

Do you think this will have an impact on the club? They have lost a ton of money the last few years...

I wonder if this might revive the Blugreen purchase by DRI from several years ago? That deal was pretty much done, contingent on financing, and scuttled when the financial markets collapsed and DRI's financing for the purchase evaporated.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I wonder if this might revive the Blugreen purchase by DRI from several years ago? That deal was pretty much done, contingent on financing, and scuttled when the financial markets collapsed and DRI's financing for the purchase evaporated.

I would be surprised if a DRI deal is revived simply because that deal was for a strategic premium. If DRI will only pay market rate, the management team is better off simply having BFC spin off the shares through a public offering. Bluegreen is profitable, so it is not a net negative to BFC. I'd like for Bluegreen simply to undertake a leveraged buyout and go private.