Yellowstone Club Goes Under
It looks like hotel mogul Barry Sternlicht, Microsoft co-founder Bill Gates, and Hollywood boss Peter Chernin may need to make some adjustments to their 2009 vacation itineraries: The Yellowstone Club, the invitation-only private ski and golf resort in Montana for the exceedingly wealthy, filed for Chapter 11 bankruptcy protection yesterday. Club officials say the resort will remain open for the ski season, but its long-term prospects are unclear. The good news is that the club's 340 members will no longer have to fork over $16,000 a year in membership dues. The not-so-good news: Their $250,000 initiation fees just went down the drain. [AP]