Big Burke announcement

[from_the_NEK]

http://www.dfr.vermont.gov/sites/de.... Quiros et. al. COMPLAINT SIGNED & FILED.pdf

 

[from_the_NEK]

I wonder if this will stay on schedule at Jay?

https://www.pca.org/porsche-parade

 

[BenedictGomez]

Is this how vail enters the east coast market?

I was thinking that myself.

It makes much more sense for SKIS though, problem is, SKIS just suffered a terrible season and is cash-strapped. Then again, if they could acquire Jay Peak on the cheap at distressed levels......you never know.

 

[BenedictGomez]

Why would Vail buy Burke?

Nobody will want Burke.

Which is why, my guess is Vermont will push for a conditional acquisition of BOTH resorts as a requirement for purchase.

 

[WWF-VT]

Spent $2.2 million to purchase a Trump Place condominium for Quiros in New York

Quiros living large in NYC FTW !

 

[tnt1234]

This is nuts!

 

[oldtimer]

which would you rather have- Burke (2 new lifts and medium sized hotel with established summer activities nearby) or Saddleback( better terrain, more snow, more condo owners, lifts suck)

 

[mister moose]

An important difference for ongoing health of Jay and Burke is the how the receiver will operate the resorts. They have no local experience or knowledge,and are professionals at plain uninspired management. They do not have a stake or interest in making it succeed. They are only charged with exercising normal fiduciary possession and operation. This means very conservative operation, and extrication of their receivership fees, regardless of the revenue generated by the resort. An important difference at Burke is their fees could exceed earnings. The resort may not be in better shape in the years they have control. There may be no investment in snowmaking infrastructure, as there is no certain return.

My personal guess on Stenger is he was the boiled frog in this, and Quiros lit the fire. They are both in hot water.

 

[VTKilarney]

Prediction: the feds split Q and Stenger. They get Stenger to rat on Q. Q goes away. I want to believe that Stenger got caught up in this and was not the brains behind the scam.

I think that this is VERY likely if there are criminal indictments. The SEC filed their case in Miami. That ought to tell you who they see as the problem.

Even if Stenger rats he could see the inside of a jail cell. The allegations are that bad.

 

[tumbler]

This is so entertaining! Such drama in the ski business! Sad for the people that are unemployed from this though. There shouod be some funding from this mess for them.

I think that Jr did not know and/or understand this whole thing. Yes, he did benefit from it but i think he was pawn in the game for his Dad and Stenger. I actually have a small amount of sympathy for him because he was doing what he was told and not what he wanted.

 

[xwhaler]

which would you rather have- Burke (2 new lifts and medium sized hotel with established summer activities nearby) or Saddleback( better terrain, more snow, more condo owners, lifts suck)

It's an interesting debate and I won't derail this thread but other than the Rangeley the lifts are all fairly new and don;t suck at the 'Back.
The terrain at SB is vastly superior to Burke but access is easier at Burke not to mention the hotel.
Don't sell Rangeley short however....for my $ it is the premier 4 season destination in New England with loads of established activities.

 

[yeggous]

This is so entertaining! Such drama in the ski business! Sad for the people that are unemployed from this though. There shouod be some funding from this mess for them.

I think that Jr did not know and/or understand this whole thing. Yes, he did benefit from it but i think he was pawn in the game for his Dad and Stenger. I actually have a small amount of sympathy for him because he was doing what he was told and not what he wanted.

This is a strong possibility. His role was not to ask too many questions or blow the whistle on daddy. That is why he could never do anything or be fired. It would create even bigger problems.

 

[MEtoVTSkier]

which would you rather have- Burke (2 new lifts and medium sized hotel with established summer activities nearby) or Saddleback( better terrain, more snow, more condo owners, lifts suck)

All you need to do at Burke is bring back the rental compressors, and you would be killing it. That should help fund what remains to be fixed upgraded.

 

[thetrailboss]

All you need to do at Burke is bring back the rental compressors, and you would be killing it. That should help fund what remains to be fixed upgraded.

:lol:

 

[VTKilarney]

William Kelly should be getting very nervous right now.

 

[JoeB-Z]

I think that this is VERY likely if there are criminal indictments. The SEC filed their case in Miami. That ought to tell you who they see as the problem.

Even if Stenger rats he could see the inside of a jail cell. The allegations are that bad.

The SEC complaint seems to have a lot of carve outs for Stenger. Like not freezing his assets. Bet he flips on Q. VT has a parallel complaint also.

Ary probably working like hell on his resume, citing his strong leadership skills.

 

[sull1102]

All you need to do at Burke is bring back the rental compressors, and you would be killing it. That should help fund what remains to be fixed upgraded.

How long will it be until Jay and Q get a new owner? Are we talking about this new Kansas group trying to operate the mountain(s) next winter? Wonder if say Vail or Powdr(not a chance in hell Peak does anything) came out and showed interest in taking over this summer, could they?

 

[thetrailboss]

We now know why there was a huge PR effort the last two weeks by Q.

Wonder if folks are still standing with Q now? Anyone other than his defense attorneys? Hello? Buehler?

 

[BenedictGomez]

There will not be a quick resolution, this will probably drag out for a few years.

 

[VTKilarney]

I give Burke about a 25% chance of operating next winter. There is no way that the receiver is going to believe that it can operate in the black. The best chance is for a buyer to stop forward.

I'm actually glad that Ary Jr. was not fired last spring. Now there is no scapegoat.