Almost 40 years ago, shortly after we bought our place on Whitefish Lake, we were asked by Joe Ruttger Sr. to buy stock in a new community nine-hole golf course.
Not being a golfer at the time I asked Joe, "Why should I buy stock when I don't even play golf?" His reply, "For the benefit and value of our entire community it will be a great asset."
This made sense to me so I purchased some stock. How many shares or what I paid I don't remember or much less care.
All I know is we, thanks to the efforts of a great board and staff, now have an excellent, beautiful 18-hole course along with a new up-to-date clubhouse, driving range, etc., with no additional investment.
As an investor this is what I consider a great investment, as well as a great contribution to a wonderful community!
The question then is what motivates an attorney to pay an exorbitantly high price to buy controlling interest in the club and its assets, so as to take controlling interest away from the present stockholders?
If successful, what will it do to the value of the stock of the owners who did not tender their stock, or is it only a good deal to those investors who are willing to sell out at a high price?
Again it depends on your values. Do you feel having the course under the control of an attorney who paid an exorbitant price for a few shares of a stock to gain control is in the best interest of our community? What are his real motives? Only you can decide either with your vote or your pocket book.
Let your conscience be your guide.
Vernon R.Steffens,
Plymouth/Ideal Corners