Ninjak2

In your example, Apple would not be absolutely fine. Key employees are compensated largely in stock and many would start looking for other jobs if their trailing four years of RSU grants suddenly became nearly worthless. Now Apple could step up and issue additional RSUs to employees to keep them onboard, but that has consequences too. So you can see how a tanking stock price is extremely disruptive, even if you don't need to raise capital.

The author of this story failed at research. The Santa Clara Golf & Tennis Club is a public institution operating on land owned by the City of Santa Clara. It's the exact opposite of a ritzy, expensive club. It's closing because of developer greed, meanwhile other public golf courses in the area (San Jose Muni, Sunnyvale Muni, Shoreline, etc) are doing just fine. None of those courses would ever be mistaken for a Country Club though.