From Bankrupt to Giddyap

Old ranches never die, they just become ranchettes. A new residential enclave is coming alive on the site of a Montgomery, Texas ranch once owned by Gary Akin, who was embroiled in a financial scandal and eventually declared insolvent. A Houston paper says the 458-acre site, named Perfection Ranch, has been bought and will become a luxe community -- complete with 14-acre lake and one of the largest private indoor riding arenas in the United States.