In December 2006, WSI conducted a 15-for-one reverse stock split, further reducing to about 50 remaining shareholders in order to provide a tax advantage as a Subchapter S corporation. Again, all shareholders without enough shares to exchange for a post-split share were required to cash-out their stock. WSI's handling of the reverse split was criticized and resulted in animosity within the local community, where there were objections to the timing of the related announcements and the loss of a community connection to the resort by the