F Lanni asked:


Real Estate is going through some of its most difficult times in 30 years. Financing is becoming almost impossible, even for Bobby Ginn.

Bobby Ginn quotes that:

* Over the past year, we have offered several different buyer incentives for the Villas at Reunion Square in an effort to protect property values, close out the project, and continue with my original vision. We have had some success with these incentives, but, due to the downturn in the real estate market, some prices have fallen even below the incentives that we have offered.

* It is for these reasons that we’ve made the decision to lower the purchase price on a number of developer-owned units at the Villas. We hope that by offering these units, and the amenities and Ginn One Club membership that will accompany them, at prices more in line with the current market, we will be able to stay the course and complete the vision for Reunion.

I am one of Reunion Resorts biggest supporters and believe things will eventually turn around, and issues like below should be addressed and not just blame the bad market and sales that were cancelled.

On July 1st it was reported that Ginn Clubs & Resorts missed principal and interest payments yesterday on its first- and second-lien debt, sources said.

Interest payments are subject to a three-day grace period, but there’s no grace on the principal, sources noted. Lenders have agreed to forebear from exercising remedies for 30 days, but haven’t waived the default. Ginn’s loans are in the Standard & Poor’s/LSTA Index.

As part of the forbearance agreement, Lubert-Adler is kicking in $5 million of equity that will be used for operations, according to market sources. It will not be used to make payments on the Credit Suisse-led loans.

The company has already been in active talks with lenders regarding a restructuring of the company’s $675 million credit facility. Those negotiations are ongoing, sources added.

Ginn’s first-lien debt is quoted at 45/50 this morning, with the second-lien at 10/20, sources said. There was a small trade in the first-lien last week near 50 and the paper has been quoted at 47.5/52.5 since then. The second-lien loan was not active, quoted at 17.5/22.5 last week, down from 35/45 in early June.

The loans back the development of five communities by the Celebration, Fla.-based company. The properties are Tesoro, a mature community in Port St Lucie, Fla.; Quail West, a mature community in Naples, Fla.; Hammock Beach River Club in Palm Coast, Fla.; and the Laurelmor and Grand Bahamas projects, both of which include golf courses and single-family and condominium homes.

Than President Robert Gidel released this statement:

Today, Standard & Poor’s will release a statement that indicates two Ginn affiliated companies, Ginn-LA CS Borrower, LLC and Ginn-LA Conduit Lender, Inc. did not make a principal and interest payment on a non-recourse $675 million credit facility led by Credit Suisse. It will also state that we have reached a 30-day forbearance agreement and are actively negotiating with our lenders.

There are four communities involved in this credit facility:

* Ginn-LA St. Lucie, Ltd., LLLP, which owns Tesoro

* Ginn-LA Quail West, Ltd., LLLP, which owns Quail West

* Ginn-LA Laurel Creek, Ltd., LLLP, which owns Laurelmor

* Ginn-LA West End Limited, which owns Ginn sur Mer

Due to the ongoing slowdown in the residential real estate market, it became clear that it would not be possible to meet the homesite sales objectives necessary to make payments due under the credit facility.

We have been discussing these issues with the lenders for the purpose of seeking ways to restructure the terms of the credit facility. Today’s announcement of the forbearance provides an environment for both us as borrowers and the lenders to continue to work toward a restructuring of the credit facility, which we believe will occur in the next 30 days and will permit each of the communities to be completed as planned.

Even though sales throughout our industry have been lagging, nearly all development work has been completed at Tesoro and Quail West. While there is work left to do at Laurelmor, we have commenced work on much of the infrastructure, including the paving of miles of roadway and substantially completing the delivery of water and electric to the homesites.

Ginn-LA West End Limited previously set up accounts which contain the funds necessary to complete the infrastructure and the initial 18-hole golf course at Ginn sur Mer. These funds are not subject to the credit facility and are unaffected by the current situation, which means there will be no disruption to the continued development of the Ginn sur Mer project or the operations and development of Old Bahama Bay. The properties that are owned by Ginn-LA OBB, including the resort core of the Ginn sur Mer project, are not subject to this or any other credit facility.

The Credit Suisse-led credit facility only affects these four communities. All of our other communities, including Reunion Resort & Club, Hammock Beach, the Conservatory, Bella Collina, Old Bahama Bay, Tesoro Preserve and Cobblestone Park, are separately funded and will maintain operations in accordance with business demands.

This situation has no impact on our ongoing business operations throughout the company. In fact, we are creating new initiatives to create better experiences for our Members as we speak. We recently announced the formation of the Ginn One Club, which will provide reciprocity to our Members at select Clubs and Resorts throughout our portfolio.

In addition, we are finalizing plans to complete amenities at our Clubs and Resorts including an expansion of the Waterpark at Reunion Resort & Club which will feature a Members-only area, expanding our pool and food and beverage venues at the South Tower Plaza at Hammock Beach, completing the lobby area and tennis pro shop at Yacht Harbor Village, completing the Social and Equestrian center at Bella Collina and finishing the Clubhouse at Cobblestone Park, among other projects.

These important and significant issues effect The Ginn Company and its Name, and I believe we should have been notified before the media notified us. Issues were raised in the last live meeting held by CEO Bobby Ginn at his last live meeting that to please tell us the news whether good or bad, and keep the communication lines open so that everyone is on the same page. I think some of the news of missing payments and some of the restructuring that is going on should have been mentioned in today’s release.



Leon

infomerse asked:


Using rope and knots.

April

grravitie from cebu asked:


I need a hammock that I can bring with me during our trek. I need it to be light and durable. I prefer the nylon - taffeta material.
thanks for all the replies. i need to buy it asap if possible. the shipping for online hammocks are taking a couple of weeks. i needed a lightweight hammock that i can easily stuff inside my bag.

Francis

Philip Augustus asked:


anyone have a hammock inside their house?
not in the yard. but in the house?

Roy

Dave Grohl Wanna Be!!!! asked:


A military one would be cool but it doesnt have to be on. Also if there was one that was waterproof so if its raining you can still be in it that would be even cooler. These two are optional but the water proof idea I would really want. Thanks!

Wanda

yupyup asked:


I have two 4×4 posts and was told that for a hammock i would need to dig the holes 5 ft down-put the 4×4 posts in and then back fill with cement. Problem is the ground is extremely hard and I am tapping out at 4 ft. Does 5 ft seem right as far as the depth needed for a hammock?

Lynn

Terro White asked:


Lying in a hammock under a tree in your front yard with the sun on your face and a gentle breeze swinging it side to side is a beautiful summer picture you can’t get out of your mind.  So you have the front yard, the tree and the occassional sun but there is one big piece missing.  You don’t have a hammock!  This is where I ask you, why not?  Suffering from uncertainty and doubt as to which one to get?  This article will help you make up your mind. 

Earlier hammocks used to be made from the bark of a tree called “hamack” hence the name.  These days most hammocks are made either from ropes or fabric.  The most common of these two is the rope hammock. 

The rope hammock is made from, well you guessed it, rope.  These ropes wrap themselves around a person supporting his or her body.  There is no fabric used at the base.  These only rely upon the cotton or nylon rope used to make them.  Being very strong they can hold up a person’s weigth easily.  These are very low cost and easily affordable.  Also due to the spaces between the ropes they catch  air easily allowing you to enjoy a summer breeze without your back getting all sweaty.  However as with all good things a rope hammock also has its disadvantages.  Firstly, as these are made from rope or nylon they are more susceptible to growing mildew and mold when exposed to wetness.  Hammocks are for outdoor pleasure mostly so this is a big drawback.  Secondly, despite being very strong they can be extremely unstable and hard to balance. 

The hammock that is most sought after is the kind made from fabric.  These have a base that is made from fabric unlike the rope hammock swings.  This makes them more stable and the chances of falling when getting in or out are decreased manyfold.  These are more comfortable as there are no annoying ropes digging into your body.  Little children can use them more safely as there is no danger of them having their fingers or toes twisted in the ropes.  But fabric hammock swings are not without some disadvantages either.  On a hot summer day, they do not allow for the air to circulate hence leaving you uncomfortable with perspiration. 

An important thing to keep in mind is that both kind of hammocks come in two varieties:  with spread bars and stave-less.  Hammocks with bars, contrary to popular belief, are less comfortable then their bar-less counterparts.  This is because the latter can mould itself around the body in a better manner. 

Both types of hammocks are available in several varieties such as:

1.    Portable Hammocks

2.    Camping Hammocks

3.    Folding Hammocks

Hammocks are surprisingly cheap with the rope variety being the cheapest.  Decent fabric hammocks may also be found for under a $100.  But remember, this is the price of the hammock alone.  If you do not have trees to hold the hammock then you will have to make an extra investment in purchasing a hammock stand.



Maureen

Galia Ivanova asked:


So, you are sitting around, or maybe you are standing up, and you think to yourself “My goodness, if only I had a place to relax. A hammock would be nice!” Many, many people have had this same thought, so you certainly are not alone!

Well, what if you have a baron backyard with nowhere to hang a hammock. A common misconception is that hammocks only come with two ties on each end to tie to a tree or other hanging post. Well, with the technology craze of this generation, and with everything from cell phones to laptops getting smaller and smaller by the day, portability is on the rise. Introducing: The portable hammock.

Allow me to present a possible scenario to you. You are sitting on your porch when your significant other comes walking up to you asking for a place to relax. You ponder, and you remember coming across this article. A light bulb that seems to be residing in your brain somewhere flips to the “on” position, and suddenly you are a hero. You tell him or her that you have got the greatest plan in the world. You are going to purchase a portable hammock.

Your partner becomes confused, “But, we do not have anywhere to hang a hammock,” says you partner, “how do you expect to take a portable hammock out here?” You then would explain to your partner that the essence of a portable hammock is the fact that it is so portable, and so convenient, that all you need to have your new relaxation spot up and running is a vacant spot on the ground anywhere you like. You can place it in your backyard, at the porch or deck, at the beach, in the woods when camping and many more empty stops on the ground. Eureka! Problem solved.

Portable hammocks are the most convenient option for finding the simple joys in your everyday life. Take one outside and listen to the birds sing their songs in trees. Or, here is the best part, you can even set up your portable hammock in your very own living room. Yes, portable hammocks are slowly but surely hitting the mainstream waves of indoor décor. And that is not only my opinion.

Can you not just picture it in your head right now? Imagine, sipping a cherry limeade with a straw, swaying back and forth on your portable hammock, in your very own living room. We think this is the perfect addition for any individual looking for a little bit more individuality in their living area! You can set up your portable hammock in your bedroom too. It is very comfortable and can serve you greatly as a bed instead of your regular bed.

So, while you are in the market for a piece of furniture to relax and have great time in it, we urge you to keep in mind the attractive convenience, and fun, that a portable hammock can present to anyone of all ages!



Cheryl

Paul Yates asked:


In the summertime there’s nothing like lazing around in the back garden and having an afternoon nap under the shade of a tree swinging gently in a hammock. I’ve tried to make hammocks in the past and they’ve never worked very well and all because of one simple design flaw called the spreader bar.

The spreader bar is something that I’ve learned about while doing my research into buying a hammock for my backyard and it really is the single most important factor to consider when buying a hammock. The spreader bars are at each end of the hammock and do exactly what they say which is to spread the bed out so it does not collapse in on you when you get in it. So when looking to buy a hammock take special care to check the quality of this important part.

Other areas to check for good quality are also the straps and the links chains. Again, make sure that these are robust to ensure that your safety is not compromised.

So what other marketing gimmicks are there out there to try and confuse you? There’s a lot of differentiation made by the origin of manufacture some being Mayan, Brazilian or Nicaraguan for example. There’s many more but these seem to prevail. All this means is that in general the hammock has been hand crafted using naturally fibres and this has two important impacts:-

1. It’s more comfortable than the traditional rope hammock

2. The weave can be a little loose and so care is required when getting in and out and no sharp objects

Moving back to the traditional rope hammock for comparison, these can be made out of cotton or polyester. The tighter weave making the cotton version more robust than the hand crafted works above and it’s still pretty comfortable compared to rope hammocks made out of polyester. The advantage of the polyester is that the hammock is significantly more durable so basically it comes down to a trade off between comfort and durability.

The poolside hammock demonstrates this perfectly. It’s certainly the least comfortable but the needs of a poolside hammock differ considerably. The essential feature is that the hammock is quick drying and to a lesser extent it’s also designed to be colorful and both these factors determine the type of fabric used and this is at the expense of comfort.

So there’s no real mystique to buying a hammock, there are some choices that you need to make depending on the functionality that you want and you may have to compromise on comfort but that’s about it. Once you’ve made your choice for fabric then it’s time to look at the quality of the spreader bars and make sure that these are sufficiently robust to ensure that your purchase lasts a long time.

It terms of setting it up, a hammock does require two trees in close proximity otherwise you are probably better acquiring a hammock stand as well but if this is more equipment than you can handle then maybe it’s time to consider a hanging chair?



George

Dana B asked:


I am getting a ferret and its about $130.00……okay and my friend is buying me the cage….cause i dont really got money lol……..does anyone know how i can make a homeade ferret hammock NO SEWING PLEASE! i dont know how to im 13……..okay any websites,pictures,instructions would be good thanks!

Greg