Jay Peak assets frozen....

[neufox47]

I will be the first to admit that I know very little about asset management at this scale, so I will have to let those of you that actually know something about this matter take the lead.

That said, in reading that document it leaves me with a certain sense that while the value of the assets at Jay Peak may be substantial, the ability to actually generate profit in the long term is in question. The issue of the maintenance of the tram seems more than trivial and the previous management's (Stenger/Quiros) reporting of the actual viability of the business seems questionable.

Isn't this really the crux of the whole issue? EB-5 brought in funds to develop these pie in the sky ideas (which most state officials at the Fed. and state level were happy to get worked into a frenzy about) , but then they need to be effectively managed and maintained. It seems to me that that's all in question at this point. No?

Furthermore, it also seems that this is just another example of "trickle down" type thinking gone wrong.

You have to first understand the intent of that document. If the receiver was not provided the cash, yes Jay would become insolvent. Many healthy businesses would become insolvent if you suddenly cut off their financing. So the receiver needed to pursuade the court to allow it to get more cash. Therefore they paint a dire picture of what would happen if the cash is not received.

Was it a bad investment to build all the infrastructure at Jay? Maybe, but now those costs are sunk. Assuming that it sells, the new owner will pay the estimated present value of future cash flows, assuming they plan to hold the business indefinitely. That may be significantly less than the cost to build those assets. However that is irrelevant to its viability as a business. Its ability to generate operating profit is the key. If a business can generate operating profit it is generally viable to some owner. $3 million of operating profit is nothing to sneeze at and supposedly their non-skiing revenues grew this year, even though skiing revenue was down they affect non-skiing revenue.

[BigDaddy]

Well said... Econ 101. It's unfortunate for those who invested personally, but the good news is someone is going to get a great deal and Jay now has some swank digs.

[robrox]

This mornings Digger has Burke looking like a potential sale, with its swanky new hotel ready to open as soon as it has staff and some linens....but first they have to remove hunders of "Q"s form signs, brochures, beds and so on.

One good winter and they both sell, with Jay being the healthiest at the moment. We could be in for a surprise about Burke. There are many attractions and it is a smaller package. Plus, it is much closer to population centers and an interstate highway. Look for Burke being a better investment...especially as it is next door to a well regarded private school.

Nostradamus, out....

[Vt-Freeheel]

Could pick up a cheap Q sign like those old Boltin ones.

[Flounder]

Could pick up a cheap Q sign like those old Boltin ones.

In order to reset the relationship with the locals all Q signs should be used as fuel for a massive bonfire party. Lighter fluid and a couple of kegs is the only cost. Might need a bit of lighter fluid to keep the flames going as I think a lot of people would like to piss all over the Q!

[Benny Profane]

Oh bunny
Stop, just stop

If you want to convince us that you're such a gnar ski bum, you should move to a place where it actually snows, to start. But then you'll have to learn to ski powder, not rocks and dirt and old, crusty snowmaking bumps. Good luck with that.

[From_the_NEK]

In order to reset the relationship with the locals all Q signs should be used as fuel for a massive bonfire party. Lighter fluid and a couple of kegs is the only cost. Might need a bit of lighter fluid to keep the flames going as I think a lot of people would like to piss all over the Q!

I think they should be affixed to the inside of the urinals in restrooms around the resort.

[Timberridge]

If you want to convince us that you're such a gnar ski bum, you should move to a place where it actually snows, to start. But then you'll have to learn to ski powder, not rocks and dirt and old, crusty snowmaking bumps. Good luck with that.

Benny, we miss you, when are you coming home?

[neufox47]

If you want to convince us that you're such a gnar ski bum, you should move to a place where it actually snows, to start. But then you'll have to learn to ski powder, not rocks and dirt and old, crusty snowmaking bumps. Good luck with that.

Sounds like a ski off. I bet $37 on Buttah.

[TBS]

I got $37 saying Bunny will get injured loading the chair...

[Quicksilver]

I think they should be affixed to the inside of the urinals in restrooms around the resort.

Great idea.

[riser4]

I'll try that and some empty 2-liters next time.

You must have a skinny dick if yours fits in the mouth of a 2-liter. vibes.

[From_the_NEK]

It has just been officially announced Ary Quiros Jr was removed from his position at Burke this morning and is no long employed by or for any entity involved with Burke Mountain. Let the party commence!

[My Pet Powder Goat]

It has just been officially announced Ary Quiros Jr was removed from his position at Burke this morning and is no long employed by or for any entity involved with Burke Mountain. Let the party commence!

It was a good Resume builder for him. Now he can put "ski resort operator/owner" right above "intern" on his resume

[riser4]

I thought Q Burke was the dumbest name ever. When I didn't know the Q came from the owner's name, at least I was thinking WTF? And then when I found out, I was thinking what a pompous thing to do and even more WTF??? Maybe he can rename his cell block to Q or something like that.

[strawjack]

Dunfey threw this on the main page. *Dunfee or Dundee or cowhampshire guy

http://www.pbs.org/video/2365812993/

[robrox]

Thanks man. Nice piece.

A big hurrah for Ms Galloway!

[Canada1]

I'm surprised they haven't turned up dead. Foreign investors can hold a grudge and are not used to American perceptions of Justice.

[Timberridge]

https://www.bloomberg.com/features/2...thern-kingdom/

[DaveTV]

http://www.bostonglobe.com/magazine/...ewell:trending

[Peruvian]

That's a lot of words with nothing new to say.

[DaveTV]

Actually there is quite a bit of detail that I for one have never read before...

[Vt-Freeheel]

Slowly moving along.



https://vtdigger.org/2017/11/16/quir.../#.WhYtjK2ZOu4

[Woodsy]

https://www.usatoday.com/in-depth/ne...ht/3926079001/

I remember the expansion, and parts of this, but not the full scope

[Benny Profane]

This is where they're at today. Being shopped around, but, bad time for that. Awesome year to catch a powder day there, because half of their market, Canadians, are shut out.

https://castbox.fm/vb/317475722