# Another DC in trouble ...



## pwrshift (Jan 18, 2009)

Yet another Destination Club appears to be in big trouble as you can read at the link. UE's solution seems to be a special assessment to avoid bankruptcy and came as a complete surprise to members.

http://www.destinationclubforums.com/f14/redemption-resignation-private-escapes-1180.html

The President of a competitive DC has commented on the sad news of the problems for High Country Club, Lusso, Quintess, Ultimate Escapes, M Private Residences, and the list goes on and on...

_"There has been a huge breach of trust in the industry, which will make it hard for anyone to trust this product again. Fundamentally members refundable deposits should have been treated as sacred, and protected at all costs. So even if the business model failed the money could be returned no matter what."_ _- Nick - Distinctive Holiday Homes_

Bear in mind that the membership fees at risk now range from $30,000 to almost half a million dollars per member, plus annual dues ... with promises that members will get their membership fee back when resigning appears to be the real risk to trusting any private company with your funds.

These members have invested a great deal of money in blind faith of the promised concept of DC's and they must all be rethinking their commitments now as everyone awaits which DC will be next.


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## PerryM (Jan 18, 2009)

*Rumors will kill UE before the truth will...*

I think this is the link to UE and the 2009 special assessment.

This assessment will be shielded from the public since all UE members signed a NDA to prevent news like this being released to the public.

When an entire industry hides behind NDAs you know that there is something that really really stinks beneath.

Let's see if the assessment leaks out.

Here is a little more that is oozing out.

What the clowns running the DCs don't understand is that the rumors are much more harmful to them then the truth.

I keep telling my 4 - 12 year old students this:

*The truth is simply what happened.  When you hide or distort what happened that's not telling the truth is it.*

It just doesn't get any more basic than that DC industry.


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