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  1. #701
    Quote Originally Posted by ghughes20 View Post
    It sounds like little hope to get things running this season. Very unfortunate for the owners. It seemed like there was some hope during the summer that they might figure out something for this season. Seems less likely each day.
    I mean to me this really sounded like the white flag was being waved and it's all over. The one guy is being hired to "winterize" the place and basically batten down the hatches and lock up on the way out.

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  2. #702
    It may be a long shot....if things are taken care of and shut down properly, could help if financing does come along. Just won't be happening for this ski season.
    SoVT

  3. #703
    https://www.dvalnews.com/news/hermit...urns-adversary

    Oh boy, now they can't even repay a $410k loan from April of this year, man this is going downhill as fast as it possibly can. Has anyone even seen or heard from Jim Barnes in the last 6 months? Seems like he ran away and hid. I also wonder if all the members who had snowmobiles in storage at the club were able to get those back now that the trails are getting very close to opening.
    2014-2015
    11/3- Sunday River
    11/9- Bretton Woods
    12/13- Bretton Woods
    1/18- Wachusett
    1/25- Watatic
    1/29- Wachusett

    www.skibigsquaw.com

  4. #704
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  5. #705
    That is a perfect example of the craziness of that place, that you have you create a shell company that you are the manager of just to come up with money to build a chairlift

  6. #706
    Quote Originally Posted by icecoast1 View Post
    That is a perfect example of the craziness of that place, that you have you create a shell company that you are the manager of just to come up with money to build a chairlift
    Yeah, not only that but a six pack heated bubble chair lift that costs 2x more than what they need. Why? I get the place is for the elite but no wonder they couldn’t pay their bills. What a complete sh!t show.


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  7. #707
    Once that lawsuit is cleared up those investors will have zero trouble finding a new owner that's willing to pay over $7 million for that lift.

    Sent from my Pixel using AlpineZone mobile app
    2014-2015
    11/3- Sunday River
    11/9- Bretton Woods
    12/13- Bretton Woods
    1/18- Wachusett
    1/25- Watatic
    1/29- Wachusett

    www.skibigsquaw.com

  8. #708
    Quote Originally Posted by sull1102 View Post
    Once that lawsuit is cleared up those investors will have zero trouble finding a new owner that's willing to pay over $7 million for that lift.

    Sent from my Pixel using AlpineZone mobile app
    If it comes to that. The mountain will re open at some point. It's just a matter of how rough of shape it's in when it does.

  9. #709
    Quote Originally Posted by icecoast1 View Post
    That is a perfect example of the craziness of that place, that you have you create a shell company that you are the manager of just to come up with money to build a chairlift
    I don't know enough about the financials of the club, but this could be, and very likely served some purpose as such, just a way to limit liability.

    Lots of businesses will place certain assets into separate holding companies in case of shit hitting the fan, it doesn't bring the rest of the organization down with it. In this case, if someone was to fall from the lift and sue, they conceivably would only have to liquidate one lift vs the whole operation depending on the judgement.

    It is easy to hate shell corporations but they do serve a purpose in lots of situations. Given homeboys track record he probably abused it from there, but the CPA that set it up probably had good intentions.
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  10. #710
    Quote Originally Posted by icecoast1 View Post
    If it comes to that. The mountain will re open at some point. It's just a matter of how rough of shape it's in when it does.
    I've become more and more doubtful of that as time roles on here. It's had such a troubled history. A lot of stuff is going to be ripped out soon here, snowmaking equipment, groomers, etc. I also don't view that lift as 100% essential to operation, you could use the Pomas for a whole lot cheaper and build from there.

    Sent from my Pixel using AlpineZone mobile app
    2014-2015
    11/3- Sunday River
    11/9- Bretton Woods
    12/13- Bretton Woods
    1/18- Wachusett
    1/25- Watatic
    1/29- Wachusett

    www.skibigsquaw.com

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