Results 1 to 13 of 13
  1. #1
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    41,251

    Vail Inc. gets bailed out

    Well, sorta. Looks all parties are preparing for a two year hit.

    https://finance.yahoo.com/news/ski-r...220258733.html

    Let's do some livin'
    After, we die

  2. #2
    Join Date
    Feb 2012
    Posts
    292
    You're going to hate the big oil bailout that is coming...

    Sent from my Pixel 2 XL using Tapatalk

  3. #3
    Join Date
    Jun 2006
    Location
    Ventura Highway in the Sunshine
    Posts
    21,794
    Hardly a bailout, just a temporary reprieve.

    Plus you make it sound like a government bailout, which it is not, just the market functioning as a market should.

    I agree it is a constitutional right for Americans to be assholes...its just too bad that so many take the opportunity...
    iscariot

  4. #4
    Join Date
    Dec 2015
    Posts
    175
    Just wait until we all get a lump of coal for Christmas from His Hindness, little donniee dump. All praise the bounty of the divine right of money. I hear chocolate covered coal is very good for the country. "and it is going to be just beautiful..................................... "

  5. #5
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    41,251
    Quote Originally Posted by hutash View Post
    Hardly a bailout, just a temporary reprieve.

    Plus you make it sound like a government bailout, which it is not, just the market functioning as a market should.
    The market wouldn't function if the top guys weren't bailed out. This is trickle down. The executives at Bank of America, a bank that should have vanished in the last crisis, probably have homes on Vail properties.

    Let's do some livin'
    After, we die

  6. #6
    Join Date
    Dec 2015
    Posts
    175
    See the Divine Rights of MONEY IN ACTION! Praise the lord and pass the ammunition.

  7. #7
    Join Date
    Aug 2008
    Posts
    232
    I don't see the bail out there - Vail is getting a waiver of covenants in its loan facility - I don't know but if I had to guess from the context, I suspect the existing lenders are waiving either the prohibition of additional debt covenants or some of the debt ratio covenants, allowing them to take out more sub debt.

  8. #8
    Join Date
    Sep 2006
    Posts
    3,401
    Debt is king, and cash is...queen?
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  9. #9
    Join Date
    Nov 2007
    Location
    Eburg
    Posts
    13,319
    Quote Originally Posted by knowsam View Post
    I don't see the bail out there - Vail is getting a waiver of covenants in its loan facility - I don't know but if I had to guess from the context, I suspect the existing lenders are waiving either the prohibition of additional debt covenants or some of the debt ratio covenants, allowing them to take out more sub debt.
    Yup, that's likely what's happening and BOA will keep its priority position. And, yes, it's not a bailout.

  10. #10
    Join Date
    Jan 2008
    Location
    truckee
    Posts
    12,759
    Does this have something to do with skiing or skiers?

  11. #11
    Join Date
    Jan 2017
    Location
    Seattle, WA
    Posts
    892
    The question is - are they getting "special" treatment because it's a luxury brand that a lot of BoA execs have personal vested interest in?

    OTOH the ski resorts aren't going anywhere and to provide debt relief in some form or other (even indirectly) makes sense since demand / revenue will rebound.

  12. #12
    Join Date
    Jan 2017
    Location
    Seattle, WA
    Posts
    892
    Quote Originally Posted by old goat View Post
    Does this have something to do with skiing or skiers?
    Yes, if Vail goes under maybe the crowds will go away!

  13. #13
    Join Date
    Aug 2008
    Posts
    232
    Quote Originally Posted by thejongiest View Post
    The question is - are they getting "special" treatment because it's a luxury brand that a lot of BoA execs have personal vested interest in?
    IMHO, it doesn't seem like it to me. Amending covenants for a bit of flesh is a normal part of the game. BoA got higher liquidity requirements, which improves it's realizable security in a meaningful way to them. Are they getting better treatment than other corporate borrowers, doesn't look that way IMO, do corporate borrowers get better treatment than you or I.... well...

    "Does this have something to do with skiing or skiers?"

    WTF do skiers have to do with it - this is a site for dentists and over the hill skiers to bitch about the world, remember the good old days, bitch about crowds and practice our opinionated ramblings for our later years.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •