Golf club buy helped investors

Golf club buy helped investors

There are 13 comments on the Lebanon Daily News story from Oct 4, 2010, titled Golf club buy helped investors. In it, Lebanon Daily News reports that:

The Milton S. Hershey School, the nation's largest residential school for impoverished children, purchased a money-losing golf course at the inflated price of $12 million in 2006, saying it needed the course as "buffer land" for student safety.

Join the discussion below, or Read more at Lebanon Daily News.

Morbius

Myerstown, PA

#1 Oct 4, 2010
Gee, gotta wonder if the same people involved in this golf course and running the Hershey School also sit on the EIT Board...
Who

Lebanon, PA

#2 Oct 4, 2010
Who were the original members.....anyone from Lebanon County put up money?
Funky Tut

Lancaster, PA

#3 Oct 4, 2010
THIS is why the economy will not recover. This situation is an example of what is going on behind the scenes in all facets of our society...the super rich making the world in their image, breaking the rules to suit their needs, and taking money that they should be investing in the future of all people and using it to buy themselves expensive toys and crap for their own personal amusement while the next generation rots. And they have you all convinced its for the safety buffer zone of your family.
The Oil Man

Chicago, IL

#4 Oct 4, 2010
"Neither Lenny nor Zimmerman would comment, despite repeated attempts to seek their accounts."

You don't say.

Sarcasm aside, this was a great piece Mr. Fernandez.
iLL Eagle

Lebanon, PA

#5 Oct 4, 2010
Who wrote:
Who were the original members.....anyone from Lebanon County put up money?
John Caporaletti. He got his mits in all kinds of crap like this.
Mr Golf

Lebanon, PA

#6 Oct 4, 2010
iLL Eagle wrote:
<quoted text>
John Caporaletti. He got his mits in all kinds of crap like this.
I know that he owns like 6 or 7 courses in the area, and a couple more along the east coast.....I don't think he had any involvement in this Hershey project though!!!!
Golly

Lebanon, PA

#7 Oct 4, 2010
"The point is ladies and gentlemen that greed, for lack of a better word, is good." Gordon Gekko from Wall Street
Great Report

Lancaster, PA

#8 Oct 4, 2010
Thank you to The Philadelphia Inquirer en Se~or Roberto Martinez for fact finding and publishing what the local media will not do as not to lose Sponsors.

Good Job!
ggg

Harlan, KY

#9 Oct 5, 2010
Wow, I wonder what kind of back room deals were going on to get this done. They could have picked this up for next to nothing....Lenny didn't want to comment...there's a surprise...most likely would have to take the 5th amendment.
gretnabear

Lancaster, PA

#10 Oct 5, 2010
"The PA state agency responsible for overseeing the Hershey School and determining whether there has been a breach of fiduciary duty is the Office of the Attorney General."

headed by current two term Attorney General Tom Corbett , and candidate for the office of Pennsylvania Governor.
1PUTT

Palmyra, PA

#11 Oct 5, 2010
Yes... the current owner of two golf courses in Lebanon county. Was even paid to manage the then Wren Dale...
Morbius

Myerstown, PA

#12 Oct 7, 2010
gretnabear wrote:
"The PA state agency responsible for overseeing the Hershey School and determining whether there has been a breach of fiduciary duty is the Office of the Attorney General."
headed by current two term Attorney General Tom Corbett , and candidate for the office of Pennsylvania Governor.
Looks like something is going to happen:
http://www.pennlive.com/news/patriotnews/inde...
vian51

Philadelphia, PA

#13 Oct 7, 2010
Greed doesn't even come close to what is going on here. All of those responsible for this fiasco should be held accountable.
They, the managers have been fleecing Trust Monies for years, money meant for Orphans wanting and needing a good home.

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