Burton to Purchase Mad River?

[Big Game]

Originally Posted by madskier6

Most MRG shareholders are not interested in getting cashed out at a profit.

Indeed. And the Coop's purpose (so I understand) is not even to maximize shareholder revenue. So really, to initiate a shareholder D's suit on that basis that the baord is not maximizing returns would get no where.

Rather, a stronger case (assuming the facts were there) would be in that current management is not fulfilling its mission in securing the future of MRG.

Now would a shareholder's D case succeed? It would be tough. There would have to be serious mismanagement. I could be wrong, but I don't think anything is there. But compared to constitutional claims (although that gimpy golfer case makes me think twice) a shatreholder's D suit at least has a chance.

Wait...thinking about that gimpy golfer case. What if you were a snowboarder who couldn't ski because of bad knees and only could snowboard. Bring a suit under ADA? Of course the counter-argument would be there are other places to snowboard, but not other places to play professional golf. And if you snowboard, I think its difficult to claim you're disabled. And what kind of gimpy snowboarder would be able to handle the terrian at MRG? And what kind of snowboarder would sue for access? I just don't think a snowbaorder would do that.

On the other hand, and I really don't want to start a flame war or anything, but something I read on the internet about this skier was running late at Nordstrom's and backs his Lexus SUV into a lightpole because his was too distracted talking on his cell phone to his broker, but then he later claimed that the lightpole gave him emotional distress and sued the mall owner for creating such a hazard.

Again, I have no idea if the above is true. But something else I read was written in the bathroom at the orphanage I volunteer is "Skiers have city hands. From counting money all day."

Please, no attacks. I am just a simple messenger.

[JennyRousseau]

Originally Posted by Big Game

Indeed. And the Coop's purpose (so I understand) is not even to maximize shareholder revenue. So really, to initiate a shareholder D's suit on that basis that the [board] is not maximizing returns would get no where.

MRG is a for-profit corporation, owned by shareholders, *not* a non-profit cooperative.

The Board has every reason to maximize shareholder value as well as fulfill it's mission statement to "preserve and protect" General Stark Mountain. I feel that the board should be held accountable for their actions if they were shown to decrease shareholder value. Anyone who believes that the Board wouldn't have any liability has been hanging with the Canadian snowboarding team for far too long.

Jenny

[SkiDog]

Originally Posted by JennyRousseau

I think that's an insane statement and ignores the truth.

MRG is a for-profit corporation, owned by shareholders, not a non-profit cooperative. The Board has every reason to maximize shareholder value as well as fulfill it's mission statement. And I feel that the board should be held accountable for their actions. Anyone who believes that the Board wouldn't have liability (and liability to each member personally) has been hanging with the Canadian snowboarding team for far too long.

Jenny

Sorry...BUT SEE BELOW


Mad River Glen
by Mitch Kaplan

Mad River Glen

Courtesy, Mad River Glen/TJ Greenwood
Mad River is the standard by which all others eastern resorts are measured. Now owned and operated as a non-profit membership cooperative

M

[David Metsky]

Originally Posted by JennyRousseau

MRG is a for-profit corporation, owned by shareholders, not a non-profit cooperative.

No, you are wrong. The MRG Co-operative is a non-profit cooperative.

Section 1.3 - Purpose. The purpose for which the Cooperative was formed is to preserve and protect the forests and mountain ecosystem of Stark Mountain in order to provide skiing and other recreational access and to maintain the unique character of the area for present and future generations. The Cooperative shall be operated exclusively on a cooperative and nonprofit basis for the primary and mutual benefit of its owners and other patrons.

People should read up a little on this before replying.

-dave-

[SkiDog]

Another source....

http://skiamericacanada.com/madriverglen/index.html

Mad River is America's only skier-owned, nonprofit cooperative.

M

[SkiDog]

Originally Posted by David Metsky

No, you are wrong. The MRG Co-operative is a non-profit cooperative.


People should read up a little on this before replying.

-dave-

I know...right??? Blatantly comes out like they've "got the facts" when they couldnt be more wrong...geez it dosent take that long to find that information at all.....and on the FIRST post...

Hmmmm off on the wrong foot????

M

[David Metsky]

To be fair, there is the Mad River Corporation, the former owners of the ski area. That company (owned mostly by Betsy, IIRC) still has significant land holdings abutting the ski area. That's not part of the Cooperative and there may be some confusion on that part. But the ski area really is a non-profit cooperative, which may be a hard concept to grasp.

-dave-

[noski]

Originally Posted by SkiDog

I know...right??? Blatantly comes out like they've "got the facts" when they couldnt be more wrong...geez it dosent take that long to find that information at all.....and on the FIRST post...

Hmmmm off on the wrong foot????

M

What's the snowboard term for "wrong" foot forward? Goofy?

[JimG.]

WOW! Take off a few days and I come back to this.

You guys are as serious as a heart attack!

Try to start a little theoretical conversation and you wind up with a room full of lawyers.

You should all be ashamed of taking this nice little ski related thread and turning it into an episode of Perry Mason.

Bleeeeeeeeeeeeeeeeeeech!

[marcski]

I'm looking forward to JennyRousseau's retort and 2nd post if there will be one.