To simply realize that fools and their money are easily parted.
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Stenger and Quiros Ousted from Management of Jay Peak and Burke
- Thread starter thetrailboss
- Start date
To simply realize that fools and their money are easily parted.
SAM special interview with Steve Wright:
http://www.saminfo.com/special-reports/8716-special-report-jay-peak-forges-ahead-2
http://www.saminfo.com/special-reports/8716-special-report-jay-peak-forges-ahead-2
machski
Well-known member
Nice positive position and message. Sounds like Steve is the type of leader Jay needs right now.
BenedictGomez
Well-known member
I disagree 100%.
Keep in mind he was completely and totally naive during this whole cluster ****.
I'd like to see them bring someone in who has their eyes wide open and cant be so easily fooled, as this scam was easy to see. I'm not saying he perhaps isnt good at his job, but "leader" he is not. Nobody attached to this stink directly or indirectly can be named as "leader" here.
luvinjaycloud
Member
- Joined
- Feb 11, 2008
- Messages
- 41
- Points
- 6
The National Ski Areas Association seems to think Steve Wright is a leader. They just gave him an award in May. Doh!
Some people just want to see Jay blown up. Not sure why. Steve knows the mountain, the culture and its loyal customers better than anyone. To throw him in the same pot with Quieros and Stenger is short sighted. He is one of their best assets and I highly doubt he was complicit in any of the Eb-5 wrongdoings. Good Luck Steve! Keep the mountain GREAT!
Looks like while in some ways everything has changed in other ways it is just business as usual....
http://vtdigger.org/2016/09/26/u-s-senate-moves-extend-eb-5-program/
http://vtdigger.org/2016/09/26/u-s-senate-moves-extend-eb-5-program/
I do believe that Q and his inner cabinet knew of the scam. As for Bill--at some point he must have at least figured SOMETHING was amiss. As to Steve Wright--I don't think so.
BenedictGomez
Well-known member
A government program was completely corrupted to the point of absurdity?
I'm shocked.
Smellytele
Well-known member
Leahy's issue seems to be more about depressed rural vs not really depressed urban not really about protecting investors though there is a quick blurb in there about that
Exactly. Nice sidestep, eh?
MEtoVTSkier
Active member
You know for fact, or you "heard"... I doubt a court appointed receivership is going to be knowingly bouncing checks.
That is thought process as well. As a matter of fact, since a receiver really has no tie to the history leading up to the current situation I would think it is much easier for them to raise their hand and say "this guy left things even worse than we thought......the business is struggling to bridge to winter".....
Maybe it is and more will come out; but until we see some facts laid out in the Digger etc. I would pump the brakes on "Jay Peak is bouncing checks".....that being said, with this whole sham.....where there is smoke there is usually something......
LONGBOARDR
Active member
I heard that checks bounced earlier this year too, that was confirmed.
IMO probably accounting goofs since they laid off a bunch of those folks in the spring
BTW A lot of news from the mountain makes its way to the local taverns and eateries and not to Digger.
IMO probably accounting goofs since they laid off a bunch of those folks in the spring
BTW A lot of news from the mountain makes its way to the local taverns and eateries and not to Digger.
Oh I'm sure it does, no doubt. but there is a big difference between layoffs causing a ripple in the force in the Accounts Payable dept and having financial issues.
I interpreted the original post/rumor to be suggesting financial difficulties etc. and I would wait for more concrete evidence of that personally; I can completely see some transition issues and bills getting lost in the sauce between ownership groups.
Yeah internal malfunction here Riv (and hey, how are you?). I'll spare you the gory but suffice to say, we have controls set up so that checks are approved and funded in a specific order and if anything ends up being mis-keyed the system halts. Happened to two checks here and we're working to make sure it doesn't happen, or the risk is greatly diminished, again.
Hope all is well.
steve
Hope all is well.
steve
All is well; Good to hear things are as I suspected.....the A/P world can get easily messed up during any type of transition like the one JP/Burke have undergone. Which is primarily why I think pumping the brakes on any rumor mill is probably a good idea given the current situation
Hopefully it is a speed bump in the grand scheme of things.
All everyone needs to do is maintain things until the snow flies.......given the current weather.....heck I would settle for a frost let alone snow at this point......
machski
Well-known member
So, Silver Mountain in Idaho just sold for the ridiculously low price of $5 million. Many similarities to Jay (though Spokane is no Montreal) with a water park, golf course, base village and a signature gondola. Wonder if this will put a damper on the receiver's selling price hopes at Jay.
http://www.spokesman.com/stories/2016/oct/20/seattle-businessman-buys-silver-mountain-resort-in/
http://www.spokesman.com/stories/2016/oct/20/seattle-businessman-buys-silver-mountain-resort-in/
fbrissette
Well-known member
The resort price will be based on annual profits, which the receiver is trying to maximize by cleaning up management practices. I can tell you they are shaking things up at Jay. I don't know Silver Mountain, but the selling prize simply tells you that it has a hard time turning a profit. Jay Peak is within a 6 hour-drive to probably 20 million people. It's probably 20 times less people for Silver Mountain.
