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Re: Manhattan Club Lawsuit (by Dennis C.):

There are many different goals being sought by various dissatisfied TMC owners. I've been an owner since 1999. Here is a list of wants that i've heard about:

- the ability to get into a unit with reasonable advanced reservations rather than the 9 months-to-the-day-at 9am policy & procedure currently in practice. Most of us were told that 72/24 hours would be sufficient time to reserve/cancel (a major attraction for the investment)

- priority booking over internet sales (hotels.com & others..., RCI, Interval International, Disney or other exchange systems'.. and other relationships & management deals (exchanges were not part of the system "back then")

- lower and/or slower growing annual maintenance fees (I knew that the first years were subsidized by TMC, and that the MF's would increase... we didn't know by how much.)

- ability to sell a share on the open market, without the TMC having first rights of refusal.. allowing the marketplace to set the price... instead of TMC being able to control the price/value of the unit/time.

- ability to sell back a unit to TMC at a reasonable price (Not the pay current PAY-THEM-TO-TAKE-IT-OFF-YOUR-HANDS scheme)

- ability to permanently terminate the relationship somehow... and not pass on the deed/interest to ones estate/ inheritors, and the burden of PERPETUAL maintenance fees, without ruining ones credit or other aspects of ones financial status.

- return on investment (many were told that the value of say... a 20,000/week 'forever' investment would increase and be a highly marketable and value-increasing investment in NYC)

- some combination, or all of the above and PUNISHMENT for Eichner and others

- return of some/all of the monies (maintenance fees) that people paid in...yet were unable to actually reserve and use the time for which they paid.

- I guess there are some owners that are so bittered by the relationship, that they also want some kind of 'pain & suffering' compensation as well.

I'm not sure what the NYSAG is 'going for', or what might happen in the end, but, many of the owners (20,000?) are totally fed up with their inability to 'get in' and the growing maintenance costs.