Investing in Wellesley Country Club

The Boston Globe writes about how some country clubs are reducing fees in light of the bad economy in an effort to attract newcomers and not lose current members. Though it does say that schmantzier clubs don’t have to worry so much about defectors:

“Observers say that the most prestigious clubs, like the Country Club in Brookline, should not have trouble hanging on to members because it’s not just a privilege to be admitted, it’s an investment. It’s less painful to quit a place that cost a few thousand dollars’ entry fee than to jump ship from the Wellesley Country Club, where initiation now costs $50,000.”