Developer Ron Lewis files for Chapter 11 reorganization

Developer Ron Lewis files for Chapter 11 reorganization
Prolific builder says he was hurt by housing market’s dive

http://www.canyoncourier.com/content/de ... ganization

Wishful thinking if he thinks the economy is going to get better.

I could have told him so- actually, I did tell him so.

Ron should have closed up shop back in 2008 and laid low for a while, but he had to keep going.

I think the stuff he was doing at Shaffers Crossing was way too ambitious- but no-one was going to talk Ron out of it.

He's not alone- lots of good people are making bad moves these days, the economy really sucks if you are a builder or developer in this area these days.

I know I got out at the right time.

Case- Shiller predict minimal recovery for 10-20 years. And up here the real wealth comes up via 285 ---- $$$ 4.00/gal gas is a big factor. We bear a double burden, consequently - oh well fly fishing season is here.

akilina wrote: Developer Ron Lewis files for Chapter 11 reorganization
Prolific builder says he was hurt by housing market’s dive

I don't normally ill-wish folks, even when I think they've brought troubles on themselves. In this case, however, it couldn't be happening to a more deserving individual.

can you say karma? what a jerk.

Wonder what the length of time will be on his payment plan. Hope the newspaper follows up.

And look at all the unsecured creditors. Don't think I would want to be in that line.

Too bad he didn't have to reorganize sooner and not develop Shaffers Crossing.

The guy was really nice initially but I think he got a fat head about how good he was, most people look good in their business when the economy is good, and went overboard developing everywhere and not really listening to people's concerns. You would have thought he would have learned something from the Bear Mtn Vista residents and Glen Elk. I don't know about BMV but Glen Elk is loaded with attorney owners. He messed with the wrong snake pit.

I would be interested too in knowing how long a payment plan he gets. If it is really long then he might have a chance to pay back his creditors, but I don't think so. If he waits til the economy gets better, it won't, he is going to wish that he sold assets at a fire sale now rather than later.