Stenger and Quiros Ousted from Management of Jay Peak and Burke - Page 101

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  1. #1001
    Quote Originally Posted by thetrailboss View Post
    Here's the order.

    http://www.burlingtonfreepress.com/s...down/85299034/

    The final two paragraphs pretty clearly require the work to be completed to the State's satisfaction before opening.

    Yes, the order earlier does leave a little bit of wiggle room, and I'm sure Jay will try to negotiate. A handful do share your thoughts that they will get a "work approved", but done later, compromise, but I am skeptical.


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    Word here is that the contract is signed.
    Load test is in a week (it is done 2x annually normally)
    it can run if it passes and the work upgrade will start incrementally with the big work in spring 17.



    that tram has been subjected to multiple inspections examinations and testing by engineers-mechanics and inspectors from everywhere. I don't have a problem riding it til the upgrade.

    the new management group is getting a lot of work done here. employees are upbeat and things are looking better weekly. Huge sighs of relief, this winter will be good at the Peak

  2. #1002
    fbrissette's Avatar
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    Quote Originally Posted by LONGBOARDR View Post
    the new management group is getting a lot of work done here. employees are upbeat and things are looking better weekly. Huge sighs of relief, this winter will be good at the Peak
    My feeling from yesterday's homeowner meeting is that indeed things are heading in the right direction. Really looking forward to next winter.

  3. #1003
    I'm glad that the tram message is straightened out and that some positive news is being spread. Go Jay!


    .

  4. #1004
    Quote Originally Posted by VTKilarney View Post
    I'm glad that the tram message is straightened out and that some positive news is being spread. Go Jay!


    .
    VTK,

    the support and good wishes are most appreciated.
    Both the trajectory for Burke and Jay are excellent.
    the experience of the receiver and the unbelievably greatskills and kindness of the interim management group are quite apparent.
    Thank goodness, NEK gets the karma it's earned

  5. #1005
    Quote Originally Posted by xlr8r View Post
    If I were the new owners Jay planning long term, I would remove the Tram and demolish the Sky Haus.
    This. It's so obvious.

    The problem is, there are no "new owners", and the management company is only incentivized to keep the place going, not to upgrade it.

    But pouring all these millions of dollars into repairing a 50+ year old technology that is now going to be 25% LESS efficient than even its' prior already inefficient iteration makes absolutely no sense.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  6. #1006
    MEtoVTSkier's Avatar
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    I can understand why they want to keep it, but it really doesn't make any sense to spend that kind of money for something that only is going to move probably 270 people per hour up the hill.

  7. #1007
    I think the Tram will be fixed and stay for much of the exact same reasons why Mad River Glen spent the $$ to overhaul the single a few years back.

    First it's really one of the few "iconic" lifts in the East and that DOES have some marketing value and helps distinguish Jay from all other Eastern resorts less Cannon. Second, just like what MRG wanted to do with keeping capacity limited for snow quality on terrain that really can't take the kinds of "assaults" that say 1200/1500/1800+ people an hour that either a fixed grip or detachable lift could send up there.
    '07--08 season: 51 Days, '08-'09 season: 55 Days, '09-'10 season: 41 Days, '10-'11 season: 49 days, '11-'12 season: 40 Days '12-'13 season: 57 days, '13-'14 season, 60 days '14-'15 season 60 days, '15-'16 season 52 days, '16-'17 season: 50 days, '17-'18 season 52 days, '18-'19 season 45 days '07-'19 seasons: 612 Days

    '19 - '20 season:

  8. #1008
    The Tram is not anywhere near as iconic as the Mad River Single chair. Not even close (frankly, I don't even consider the Jay Tram iconic at all).

    In terms of marketing value, I've never heard anyone land on Jay Peak as their vacation choice due to the tram. But if it perhaps does admittedly has some slight value in that regard, it certainly costs them more by those of the opinion that it's toxic, and now, remarkably it's going to be "25% worse". I very much doubt if Jay Peak had an acquirer with reasonable funding capabilities, that they would "invest" roughly $5 Million into this aged relic, which will now be 25% poorer than before. It was bad enough running at 100%.

    EDIT: It's probably pretty apparent I'm having a hard time fathoming all of this.
    Last edited by BenedictGomez; Jun 6, 2016 at 4:18 PM.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  9. #1009
    Here is a different way to look at it: The receiver's job is to maximize the SALE PRICE of an asset he is working to sell ASAP. Let us assume that the word that they are spreading is true, i.e. with the $5 million plan they WILL have the tram running for the upcoming season and maybe this summer. To sell the asset he needs to be able to convince someone that there is a viable business model & part of that convincing is clearly happy stakeholders. These include the current property owners, season ticket holders and the locals. Next summer he may be showing potential buyers around and he can say- a) "It is all working, and we have a loyal and happy customer base." OR b) "Well, we didn't feel the tram was worth $5 mil & yea, some people are bitching, but really, this will be better for you the potential buyer in the long term."

    Cash is not really his problem today- if he can convince the judge, then they seem to be able to access what cash is available in the Q assets & maybe borrow against whatever equity exists.

    This company is not in the ski business, nor even the report improvement business. They are in the business of polishing the chrome, getting smiles on the customers and getting out of dodge w/o doing any damage.

    Would I do it under those circumstances? maybe.

  10. #1010
    It looks like the tram won't be operating next week, but next winter is definitely doable:
    http://vtdigger.org/2016/06/07/feder...jay-peak-tram/

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