Stenger and Quiros Ousted from Management of Jay Peak and Burke

steamboat1 · May 6, 2016

Shumlin Removes Stenger From Council of Economic Advisors

http://www.sevendaysvt.com/OffMessa...ves-stenger-from-council-of-economic-advisers

Edd · May 6, 2016

JPTracker said:
Hostile Takeover attempt by Stenger backfired

http://www.newenglandskiindustry.com/viewstory.php?storyid=431

For anyone working in the ski industry, this is fascinating stuff. Quiros is certainly a...."Quiroosity"!!!!

Thank you. I'll take my high fives as I walk out the door.

tumbler · May 6, 2016

HowieT2 said:
I dont disagree with anything of that.
It wasnt until ASC's plan for the hotel was rejected and they had corporate cash flow issues that they started skimping on everything from maintenance to marketing. But the point was that when summit took over there was more than ordinary costs hiding.

fwiw-with respect to the snow making pipes, Win has said that the old pipes going to upper ripcord, organgrinder and jester limit what they can pump through to 2500gpm despite having roughly 4000gpm capacity at LP. So early season, when temps are marginal down low, they can't even utilize the capacity they have on the upper mountain. I think that's the next capital project on the list.

and totally agree about the clock tower. there used to be a clock on the sign by the super bravo but that came down last season. annoying and I suspect they dont have one intentionally.

Ripcord pipe is pre-ASC and dead heads at the top of Ripcord. ASC put in the pipe on Grinder and Jester, that is a loop and is good size pipe. The project would be new pipe on Ripcord that ties into Grinder/Jester. Not sure if the booster pump house is 100% online either.

Tough year, hopefully everyone keeps their job. I doubt any capital projects this summer and i dont blame them either.

thetrailboss · May 6, 2016

steamboat1 said:
Shumlin Removes Stenger From Council of Economic Advisors

http://www.sevendaysvt.com/OffMessa...ves-stenger-from-council-of-economic-advisers

And it only took what? Three weeks after the SEC suit to do it?

benski · May 6, 2016

tumbler said:
Ripcord pipe is pre-ASC and dead heads at the top of Ripcord. ASC put in the pipe on Grinder and Jester, that is a loop and is good size pipe. The project would be new pipe on Ripcord that ties into Grinder/Jester. Not sure if the booster pump house is 100% online either.

Tough year, hopefully everyone keeps their job. I doubt any capital projects this summer and i dont blame them either.

I assumed the bottleneck was lower downspout. I also assume the additional power needed to pump water to the top of the mountain reduces capacity.

BenedictGomez · May 6, 2016

I find it difficult to believe Stenger was attempting to mastermind the hostile takeover of a private company.

thetrailboss · May 6, 2016

BenedictGomez said:
I find it difficult to believe Stenger was attempting to mastermind the hostile takeover of a private company.

Agreed.

BenedictGomez · May 6, 2016

steamboat1 said:
Shumlin Removes Stenger From Council of Economic Advisors

Stenger has a degree in political science, then worked his life at ski resorts, and he's an "economic advisor" for the State of Vermont?

Maybe I should move back to Vermont and try to get on the Council of Legal & Regulatory Advisors. I have no legal education, I'm not a lawyer, and I really know nothing about the law, but it sure sounds like it might be interesting.

fbrissette · May 6, 2016

steamboat1 said:
Shumlin Removes Stenger From Council of Economic Advisors

http://www.sevendaysvt.com/OffMessa...ves-stenger-from-council-of-economic-advisers

Shumlin should remove himself.

benski · May 6, 2016

BenedictGomez said:
Stenger has a degree in political science, then worked his life at ski resorts, and he's an "economic advisor" for the State of Vermont?

Maybe I should move back to Vermont and try to get on the Council of Legal & Regulatory Advisors. I have no legal education, I'm not a lawyer, and I really know nothing about the law, but it sure sounds like it might be interesting.

Though he may not be the best person, without him they lack any representation from the tourism industry and who know how many people in that industry wanted that position.

HowieT2 · May 6, 2016

tumbler said:
Ripcord pipe is pre-ASC and dead heads at the top of Ripcord. ASC put in the pipe on Grinder and Jester, that is a loop and is good size pipe. The project would be new pipe on Ripcord that ties into Grinder/Jester. Not sure if the booster pump house is 100% online either.

Tough year, hopefully everyone keeps their job. I doubt any capital projects this summer and i dont blame them either.

agreed.

thetrailboss · May 6, 2016

BenedictGomez said:
Stenger has a degree in political science, then worked his life at ski resorts, and he's an "economic advisor" for the State of Vermont?

Maybe I should move back to Vermont and try to get on the Council of Legal & Regulatory Advisors. I have no legal education, I'm not a lawyer, and I really know nothing about the law, but it sure sounds like it might be interesting.

Seriously, all you need is to know the right people. The Shumlin Administration and a certain renewable energy developer could not understand what was wrong with having that developer serve on a state committee that doled out state subsidies, at least 2/3 of which HAPPENED to go to developer's company. What was wrong there?

fbrissette said:
Shumlin should remove himself.

He was at 30% approval rating last month.

mbedle · May 6, 2016

BenedictGomez said:
Stenger has a degree in political science, then worked his life at ski resorts, and he's an "economic advisor" for the State of Vermont?

Maybe I should move back to Vermont and try to get on the Council of Legal & Regulatory Advisors. I have no legal education, I'm not a lawyer, and I really know nothing about the law, but it sure sounds like it might be interesting.

I don't think anyone on that board has a degree in economics. Its an advisory board from many different businesses in Vermont. I work on a planning committee and don't have a degree in community planning.

abc · May 7, 2016

mbedle said:
I don't think anyone on that board has a degree in economics. Its an advisory board from many different businesses in Vermont. I work on a planning committee and don't have a degree in community planning.

Are those mostly paid or unpaid positions? If unpaid, how many business men/women are willing to give up their valuable time serving on the board unless they have a particular agenda that would benefit their very own business.

SIKSKIER · May 7, 2016

Does MSSI have some culpability in this at all?Just reading one of the VtDigger articles on how Q financed the purchase of Jay.One has to wonder if MSSI knew he was using the eb-5 funds to buy it since the money was transfered right before the sale and the amount they recieved was the same as the total of the 2 tranfers with the balance to be paid in installments down the road.

Harvey · May 7, 2016

I thought I read that they did know, told him it was no bueno, but it went down anyway. Not positive about that.

BenedictGomez · May 7, 2016

SIKSKIER said:
Does MSSI have some culpability in this at all?Just reading one of the VtDigger articles on how Q financed the purchase of Jay.One has to wonder if MSSI knew he was using the eb-5 funds to buy it since the money was transfered right before the sale and the amount they recieved was the same as the total of the 2 tranfers with the balance to be paid in installments down the road.

I recall reading in an article that MSSI strenuously warned them not to use EB-5 money, which makes you wonder if Quiros and company were so stupid as to actually tell them, or if MSSI perhaps had an inclination and were simply covering themselves by warning against it. The article wasn't detailed on this subject, but that's an important distinction. A third possibility is MSSI might have "suspected" EB-5 was going to be used, but didnt give a ratz behind once they covered their bases by specifically warning Jay Peak against it.

machski · May 8, 2016

Would MSSI have any culpability on EB-5 money someone else used? After all, they are a Canadian company so how would a US program THEY themselves did not use spill back on them?

cdskier · May 9, 2016

http://vtdigger.org/2016/05/09/sec-quiros-wants-asset-freeze-lifted-to-pay-for-luxury-items/

This guy is unbelievable:

The SEC filing shows Quiros wants, for example, $8,904 a month to pay for his daughter’s expenses, $5,000 a month for his son, $5,056 for leases on luxury vehicles, $3,000 for storage of a military vehicle collection, $6,665 for expenses related to his luxury New York condo and $6,650 for personal assistants.

Quiros also lists business expenses, including $15,000 a month for a restaurant and $15,583 for Vermont property taxes.

BenedictGomez · May 9, 2016

cdskier said:
This guy is unbelievable

It's really amazing.

I mean, the whole thing is completely moronic on his part given the dire situation he's in, and this is not going to yield ANY potential sympathy that might be useful in court at a later date.

But the bolded bit below? Asking for money to help pay for a multi-million dollar condo that you STOLE?!?!?!?

The SEC filing shows Quiros wants, for example, $8,904 a month to pay for his daughter’s expenses, $5,000 a month for his son, $5,056 for leases on luxury vehicles, $3,000 for storage of a military vehicle collection, $6,665 for expenses related to his luxury New York condo and $6,650 for personal assistants. Quiros also lists business expenses, including $15,000 a month for a restaurant and $15,583 for Vermont property taxes.

The only two plausible explanations I can think of for this are:

1) A desperate (and futile) attempt to maintain that the NYC real estate is in fact legitimately owned
2) Just a giant **** you to the SEC

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