Bluegreen stock and health of company

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

Stocks almost 2 bucks now. Company almost doubled in market cap

As I mentioned, I believe the stock dropped below $1/share because the overall market looked bleak and the company was not releasing any news. So, investors probably thought the company had a cash problem. Once they released their income statement and balance sheet, it looks like they are still on course to be fine for 2009.

Couple that with the more positive news lately regarding the residential real estate market and the new programs to help financial institutions and the outlook for Bluegreen doesn't look bad. Most importantly, they need to make it through the economic downturn and the credit crunch. Once those go back to normal, so can the overall operations of the company.

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

While in Myrtle Beach, we were stopped by the "get information here" booths that also set you up with a timeshare tour and as a premium you can get show tickets. So...we ended up at Wyndham . We did write on our sheet that we are Bluegreen owners. Some guy eventually sat down with us and asked if we were at all interested. I said no, not really. He then informed me that BG has closed all sales offices and was in real trouble.

He said he had a bunch of BG sales people in applying for work. I told him he was wrong. I told him that I am pretty sure that BG still has sales offices at each location for the owners update. I got my tickets and we left. It was a great show, 'Good Vibrations' and somewhat free.

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

Bluegreen is still selling. There are just more focused in their efforts. A lot of the OPC activities have ceased. An OPC is a "Off Premise Contact" who is affectionately known as a body snatcher whose role is to get people to sales tours.

Here is Kona where I am at now, the only resort offering OPC tours is Shell Vacation Club. Wyndham has stopped all their OPC activities. But, I still got invited to an owner update, which I opted out of attending.

Wyndham is in the same predicament as Bluegreen relative to the credit crunch and lack of available financing for customers. They, too, have laid off a ton of people and have seen their stock price plummet to multi-year lows. This malaise is impacting the entire timeshare industry. Nobody is immune. It's just the strongest that will survive this nuclear winter.