Wide Waistlines, Fat Wallets And Bally Can't Make Money

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It's no secret that high BMIs and high media awareness about healthful activities have lead to Americans opening up their wallets to donate to the coffers of gyms, health clubs and spas all over the place. Money is ripe for the picking, yet Bally Total Fitness just doesn't seem to know how to harvest it.

According to a Reuters report released today, Bally's chairman and CEO, Paul Toback, is resigning effective immediately and the company is looking at cash holding 10 to 20 percent lower than last year's.

While Fast Company's blog on the news offers up a look at a gym that's doing things right, we'd love to know what Bally did so wrong. Our guess is that it has something to do with the stuck-in-the-eighties decor and TV commercials...
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