Quantcast
 
Read Larry Connors' blogShort Term Trading Strategies


 

Wisconsin Club could purchase Brynwood under merger

Tue. October 20, 2009; Posted: 04:50 AM
Stocks RSS
Oct 20, 2009 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- MCS | Quote | Chart | News | PowerRating -- Brynwood Country Club, which began in 1926 as a club for Jewish members, is losing its name, and it could end up being sold, through an impending merger with the downtown Wisconsin Club.

The merger agreement, which gives members at both clubs access to each location's facilities, calls for the Wisconsin Club to lease the Brynwood facilities at 6200 W. Good Hope Road for 10 years, Wisconsin Club General Manager John Constantine said Monday. Brynwood will be known as the Wisconsin Club once the merger takes effect on Nov. 1, an arrangement that ends Milwaukee-based Marcus Corp.'s management contract at Brynwood.

The agreement includes an option for Wisconsin Club, 900 W. Wisconsin Ave., to buy the Brynwood facilities, including the golf course, Constantine said.

"If we can make this work, the intent is to purchase the property in a two-year period," he said.

The clubs had previously announced that Constantine would "assume operational control" of Brynwood. That Oct. 2 statement also said Wisconsin Club and Brynwood had agreed to "provide mutual membership opportunities" in each club's facilities. But no additional details were provided until Monday.

Brynwood's 150 members will become members of the Wisconsin Club, Constantine said.

Wisconsin Club members from the downtown club can now gain full access to the Brynwood golf course, tennis courts, swimming pool and other facilities for $5,500 in annual dues, he said. Dues for Wisconsin Club members who only want access to the downtown facilities are $2,184 a year. Those members can add a limited membership at the country club, providing access to everything except the golf course, for an additional $1,416, or a total of $3,600 annually.

Current Brynwood members will have access to both the downtown and Good Hope facilities, as Wisconsin Club members, for $5,500 in annual dues, Constantine said. Currently, he said, Brynwood members pay slightly more than that amount just for access to the Good Hope Road facilities.

To boost membership, Wisconsin Club will waive its $1,500 initiation fee for people paying the higher dues to have access to both the downtown and Good Hope Road facilities, Constantine said. He said that initiation fee will be waived until the Good Hope Road club has around 350 members. He hopes to reach that goal by late spring 2010, when golf season begins.

The merger is the result of Brynwood's lagging membership. Executives from the two clubs discussed a possible merger in 2005, but no deal resulted.

At that time, the Wisconsin Club had 1,225 members, up from 400 members when Constantine was hired in 1990. The club now has 1,300 members, and it has made several renovations, including last year's $2.2 million remodeling.

The Wisconsin Club's roots date back to 1891. Its amenities include dining rooms, bars, a grand ballroom, and a concierge and shuttle service to area concerts, theater and sporting events.

Brynwood began in 1926 as a club for Jewish members who were barred from other private clubs, but it has since sought to diversify its membership.

The merger will provide value to members of both clubs, including access to Brynwood's grand ballroom, Constantine said. He has had to turn away requests by members to use the downtown ballroom because it is already booked.

The arrangement will make the Wisconsin Club the state's only private club to offer both downtown facilities and a golf course, Constantine said. He said only a small number of clubs in the United States have such arrangements.

To see more of the Milwaukee Journal Sentinel, or to subscribe to the newspaper,
go to http://www.jsonline.com. Copyright (c) 2009, Milwaukee Journal Sentinel
Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.
For full details for MCS click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [MCS]
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.