Will Watersound North still go ahead?

**iqueequeg** · 06-14-2006, 01:48 PM

I�m just wondering for curiosity�s sake if people think Watersound North will still go ahead as planned. Nothing is selling at Watersound West, which it seems to me has more to offer than Watersound North. If there is a significant delay at Watersound North, that would also have implications for the Watersound Beach club, since I would presume it would mainly interest owners at Watersound North.

St. Joe was also having some trouble with its environmental permits, but I don't know if that's been sorted out or not.

Opinions?

**Beachbummett** · 06-14-2006, 01:58 PM

Watersound West lots are selling. We own a lot at Watersound Beach Lot #42. When we were at the new club opening a couple of weeks ago I met a guy that just bought two of the lots at Watersound West.

Watersound North is still a go.

**josebby** · 06-14-2006, 05:39 PM

I'm thinking WaterSound North will attract a different buyer pool than the other two WaterSounds. I understand the price point will be less, but with some great amenities. With the Beach Club option, which would provide a great beach experience just a few minutes down the road, it could do very well. We can only hope it does.

**SHELLY** · 06-14-2006, 11:44 PM

Originally Posted by iqueequeg

Opinions?

JOE is going to have a heck of a time coming up with the cash to support the infrastructure AND pay execs AND pay dividends AND keep up with those growing advertising expenses. (Note last quarters's negative cashflow from operations)

JOE's quarter ends in June, some info might leak out before then--but I have my doubts. They probably want to try to keep the illusion going.

I do know that it will be another down quarter--and WAY off year-over-year earnings (The stock topped out around this time last year) (Talk about a textbook "head and shoulders" !)