Stockholder questions Avalon Holding’s spending habits

VIENNA — A Boardman psychiatrist has a prescription for Avalon Golf and Country Club — stop spending so much money upgrading golf courses.

Dr. Anil Nalluri, who owns 10 percent of the stock of Avalon’s parent company, questioned the company’s spending habits at its annual meeting today at its Squaw Creek course.

Dr. Nalluri noted that Avalon Holdings’ cash reserves have been reduced from $21 million to $5 million in the past 10 years.

He said he is concerned because golf course operations are not profitable despite the money spent to acquire and upgrade Squaw Creek and the former Sharon Country Club. The company also owns the Avalon Lakes course next to its Howland headquarters.

Ronald Klingle, Avalon chairman and chief executive, told him that he thinks the investments will pay off for the company.

For more information, see Wednesday’s Vindicator or www.vindy.com.