Forest Dunes & Black Lake

 BG5 ·  
BG5BG5 Members  1163WRX Points: 127Posts: 1,163 Platinum Tees
Joined:  in Midwest #1

Wow....def two of my favorite courses in Michigan but I was blindsided on how much money was put into both of these properties. See the articles below and the Detroit Carpenters Pension Fund invested $41 Million dollars into Forest Dunes and then sold it to Let Thompson later for around $3 million.

Black lake on the other hand owes $61 million to the UAW. Great courses but I bet this rubs alot of people the wrong way.

Forest Dunes Article

https://www.freep.com/story/money/business/2019/11/12/risky-deals-carpenters-union-pension-crisis/3907578002/

Black Lake Article

https://www.freep.com/story/money/cars/2019/11/13/uaw-ethics-reform-corruption-scandal/4179706002/

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Comments

  • HackerDaveHackerDave Members  1439WRX Points: 139Handicap: 13.5Posts: 1,439 Platinum Tees
    Joined:  #2

    Pure corruption. Most of that money just went "poof". I believe at least two pension funds have owned Forest Dunes before Thompson bought it. The first time I played there, I looked at all the empty lots and thought "Who would buy here?" Maybe the lake lots, but the rest would make a horrible investment. There is NOTHING around it.

    Posted:
  • GolfWRXGolfWRX Warning Points: 0  11 Members Posts: 11 #ad
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  • cassel191919cassel191919 Members  208WRX Points: 64Posts: 208 Fairways
    Joined:  #3

    there is just no way anybody with a brain would expect to sell 1,200 houses at 350k avg at forest dunes.

    Posted:

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