The silence is deafening - re: DRI acquisition of BXG

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

I am a bit surprised that Bluegreen did not release any news about the passing deadline for the exclusivity period for DRI to reach a definitive agreement for the acquisition of Bluegreen Corp. That date was Nov 15, 2008. If I recall correctly, what it means is that Bluegreen can negotiate with other parties now. I think DRI has until Dec 15, 2008 until the deal is competely off the table.

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

Do you know something we don't? Who else is beating down the door to own BG's assets?

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

Do you know something we don't? Who else is beating down the door to own BG's assets?

Only if you didn't read the last 2 press releases from BXG on the topic.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

I don't think you can find anyone that has the available cash to complete the purchase. Unless Uncle Sam willing to give them the bail out money to purchase Blue Green.

Jya-Ning

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Why not....everyone and his brother is trying to get under the TARP.

I don't think you can find anyone that has the available cash to complete the purchase. Unless Uncle Sam willing to give them the bail out money to purchase Blue Green.

Jya-Ning

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

Government bailout for timeshare developers...

Rumor is ARDA is making a salespitch in Washington....
If Howard Nusbaum can somehow pull that off- they'll have to erect a statue of him in Orlando!

[seadog Junior Member Find all posts View Profile Close seadog]

BXG, drama

There were players at the table prior to DIA,

Equity Lifestyle Properties, (ELS) had made due diligence requests and had sent shoppers to properties, FYI

[longtimer Senior Member Find all posts View Profile Close longtimer]

Just curious - if I would purchase some resale BG points, how would ownership transfer into the DRI points I currently have? (11,500 points, Trust member). Would they automatically become DRI points, or would I have to pay a conversion fee of some sort? (I assume this is the case - nothing is free and it would be one more way for DRI to earn some money!)

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Just curious - if I would purchase some resale BG points, how would ownership transfer into the DRI points I currently have? (11,500 points, Trust member). Would they automatically become DRI points, or would I have to pay a conversion fee of some sort? (I assume this is the case - nothing is free and it would be one more way for DRI to earn some money!)

Unless DRI purchase BG which at this moment looks very unlikely, you don't have to worry about it.

If DRI do miracle and purchase BG, then it is anyone's guess which club they want to promote. Anything can happen.

Jya-Ning

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

Rumor is ARDA is making a salespitch in Washington....
If Howard Nusbaum can somehow pull that off- they'll have to erect a statue of him in Orlando!

And, they'd have to put him on a platform to make that statue 6' tall. LOL.

I think Howard will have a hard time getting financing for the timeshare industry without a short sale clause on the loans if the equity value of the timeshare is lower than the principal value on the loan.

Can you imagine what would happen to the timeshare industry if the new legislation being discussed to prevent home foreclosures is applied to timeshare loans that are underwater? It would kill the timeshare industry since ALL of the loans are underwater.

I think getting additional financing for the timeshare industry is NOT what Howard Nussbaum's main objective will be. I think it will be to unlink any foreclosure laws from Timeshare. Otherwise, the timeshare industry will stop 100% of all loans.

[longtimer Senior Member Find all posts View Profile Close longtimer]

Unless DRI purchase BG which at this moment looks very unlikely, you don't have to worry about it.

If DRI do miracle and purchase BG, then it is anyone's guess which club they want to promote. Anything can happen.

Jya-Ning

So sorry to hear the merger's probably dead. I was looking forward to having a few more exchanges closer to home in PA.

[Ryne08 Senior Member Find all posts View Profile Close Ryne08]

What lending institution do you think are willing to lend money to DRI ?

[Sister Syl Member Find all posts View Profile Close Sister Syl]

I am a bit surprised that Bluegreen did not release any news about the passing deadline for the exclusivity period for DRI to reach a definitive agreement for the acquisition of Bluegreen Corp. That date was Nov 15, 2008. If I recall correctly, what it means is that Bluegreen can negotiate with other parties now. I think DRI has until Dec 15, 2008 until the deal is competely off the table.

I just went to the website and the info on the DRI proposal is not on the site. What do you think that means?

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

I think the whole idea is completely gone.

At least in the current world ecomonic conditions.