Big Burke announcement

[thetrailboss]

Here are some thoughts on the latest VTD article from this morning from me:

1. Again, interesting that Davis now is aiming his criticism at Stenger and Q.
2. I see that the "we will pay you soon" refrain from Stenger is back....
3. I'm not sure what he means by "amenities" portion...I take it that is the Aquatic and Bike Centers?
4. Looks like a big part of the pissing match between DFR, Q, and Peak CM has to do with "extra" charges for late payments, mileage, etc.
5. One hand is not talking to the other....Q says Hotel will open November, Stenger says "30-45 days", and Ary thinks not even next year.
6. They did not have enough money...only $45.65 million in October...and work on the Hotel did stall due to lack of money.


In the end I think that they were too optimistic with their plans and in their abilities to raise money.

 

[VTKilarney]

I know I sound like a broken record, but it is so upsetting to see a hotel that completed (or nearly completed) sitting idle. My one hope is that they figure out a way to get the hotel up and running.

 

[the original trailboss]

He only knows what he has been told like all the rest of us. Of course he has historically had a positive spin on most subjects. I'm sure he has A LOT of money tied up in the condos he has built and why would he want to take a negative path.



However, now we are all here wallowing in this mess as the situation seems to be ever sliding closer toward a worst case scenario. The Negative Nellies ended up being right and now they can rub the starry eyed hopeful's noses in it. But what good does that do for anyone other than make yourselves feel better for being able to say "I told you so!"..

I'm thinking Canary in the coal mine is closer than negative nellies............

 

[VTKilarney]

I'm thinking Canary in the coal mine is closer than negative nellies............

The people accused of being "negative" have been correct. That's the bottom line. Assuming that people don't support thought police, it's not productive to criticize factual correctness. It would be more appropriate to criticize those whose beliefs proved to be way off base - not that I would ever do that because sharing differing opinions makes for healthy conversation. I obviously have no problem telling someone that I believe they are wrong, but I would never begrudge their right to share their opinion.

 

[mbedle]

I think that is clearly the plan for the "Exit Plan" and to pay off the investors.

I am pretty sure that is what they did up at Jay.

 

[mbedle]

The people accused of being "negative" have been correct. That's the bottom line. Assuming that people don't support thought police, it's not productive to criticize factual correctness. It would be more appropriate to criticize those whose beliefs proved to be way off base - not that I would ever do that because sharing differing opinions makes for healthy conversation. I obviously have no problem telling someone that I believe they are wrong, but I would never begrudge their right to share their opinion.

Good answer - I've said that before on this forum. I've tried to offer a different perspective on this post and other posts, by being an outsider and in business. And sometime I get it right, but most times I'm way off base. Doesn't matter, its just good conversation.

 

[thetrailboss]

Sorry to be the bearer of more bad news......

 

[VTKilarney]

1) First and foremost, my thoughts are with the affected employees.
2) It's troubling to see that the Rapid Response Team will be on-site because this suggests that the layoffs are quite deep. I am glad that the Rapid Response Team will be available as a resource, though.

It was very clear from the pass holder meeting that staffing was going to be VERY lean as we move forward. It's a real catch-22. You need quality customer service to draw people in, but if you can't afford sufficient staffing how can you provide quality customer service? This is getting dangerously close to a death spiral.

 

[VTKilarney]

I just noticed that LSC News 7 also has a blurb about Peak CM's Jerry Davis threatening legal action if his bill is not paid. As Trailboss noticed, it appears as if Mr. Davis is becoming much more vocal about his displeasure with Mr. Stenger and crew. Since Peak CM had been tapped to construct AnC Bio (at least according to their webpage), this may be a sign that Mr. Davis has become much less confident in his likelihood of getting future work from Mr. Stenger and Mr. Quiros.

 

[VTKilarney]

FYI, here is the new general manager at Q Burke:
http://www.mei-vt.com/chief-executive-officer-1.html

It looks like he has brought at least one person with him. The layoff announcement was issued by Andy Barter, who is still listed as the human resource director for Mike's Electric.
http://www.mei-vt.com/human-resources-director.html

Hopefully Andy didn't get Ary too upset by spelling the company name incorrectly on the layoff announcement.

 

[thetrailboss]

Random thought: this may be a smokescreen or a play to get the State to approve of the remaining expenses for the Hotel. It is an election year and certain elected officials would hate to see people laid off. In addition, it's the end of the season and they lay off most of their staff anyway this time of year. So this just seems to be stating the obvious and trying to get attention.

 

[VTKilarney]

My gut tells me that this is not the case. Elected officials are no longer willing to even have their photograph taken with Stenger and Quiros. I don't see them sticking their neck out under these circumstances.

Judging by what was said at the passholder meeting, I think that the cuts are going to be very deep and very real.

 

[thetrailboss]

My gut tells me that this is not the case. Elected officials are no longer willing to even have their photograph taken with Stenger and Quiros. I don't see them sticking their neck out under these circumstances.

No, the point being to pressure the DFR and State to move things along.

 

[VTKilarney]

No, the point being to pressure the DFR and State to move things along.

Except that the state is only holding about $1.25 million of the $5.5 million owed. So even if this strategy works, where does it get them?

 

[halfpintvt]

Random thought: this may be a smokescreen or a play to get the State to approve of the remaining expenses for the Hotel. It is an election year and certain elected officials would hate to see people laid off. In addition, it's the end of the season and they lay off most of their staff anyway this time of year. So this just seems to be stating the obvious and trying to get attention.

They usually operate the campground and the mountain bike park. The Base Lodge hosts LI's prom, a Mother's Day Fun Run, a Fourth of July Celebration along with many other events. It's unfortunate they can't find something else for "Little A" to do as he has single handedly destroyed Burke's image and product in a way that no other owner (relative of an owner) ever managed to do. I know, " he went to ski school" in Spain. He must not have had a very good grasp of Spanish because I don't think he learned very much. If the Mountain folds it will be due to his arrogance and mismanagement and not the lack of a hotel.

 

[thetrailboss]

Except that the state is only holding about $1.25 million of the $5.5 million owed. So even if this strategy works, where does it get them?

Yes, but getting that $1.25 million out and into Davis' hands is progress. Get it? And read the not-so-veiled jab at the State.

 

[thetrailboss]

They usually operate the campground and the mountain bike park. The Base Lodge hosts LI's prom along with many other events. It's unfortunate they can't find something else for "Little A" to do as he has single handedly destroyed Burke's image and product in a way that no other owner (relative of an owner) ever managed to do. I know, " he went to ski school" in Spain. He must not have had a very good grasp of Spanish because I don't think he learned very much. If the Mountain folds it will be due to his arrogance and mismanagement and not the lack of a hotel.

Don't forget he was an "intern" at a hotel as well. :roll:

 

[VTKilarney]

Yes, but getting that $1.25 million out and into Davis' hands is progress. Get it? And read the not-so-veiled jab at the State.

True.


.

 

[oldtimer]

BTW- The long term, very dedicated, and very caring HR women was let go last week and immediately ESCORTED out of the building. awful.

 

[VTKilarney]

BTW- The long term, very dedicated, and very caring HR women was let go last week and immediately ESCORTED out of the building. awful.

I know her. She is an absolute class act and was 100% dedicated for years despite being paid very little.