• Welcome to AlpineZone, the largest online community of skiers and snowboarders in the Northeast!

    You may have to REGISTER before you can post. Registering is FREE, gets rid of the majority of advertisements, and lets you participate in giveaways and other AlpineZone events!

Haystack / Hermitage news

NY DirtBag

Active member
Joined
Jan 13, 2016
Messages
717
Points
28
Location
Mecox, NY / Winhall, VT
What aspect didn't smell right?

What I want to know is how much risk and loss Barnes put on the line. I don't know what his take was, but didn't Barnes sell his waste management company for hundreds of millions of dollars prior to starting Hermitage?

I think knowing his worth would really put his defaulting on debt obligations in perspective.
Did he sign checks that his wealth couldn't cash or has he refused to pay bills he can clearly afford and decided to use every means he has to screw over local vendors and the local municipality

Sent from my XT1635-01 using AlpineZone mobile app

No doubt it is the latter.
 

thetrailboss

Moderator
Staff member
Moderator
Joined
Jun 4, 2004
Messages
28,445
Points
48
Location
NEK by Birth; Alta/Snowbird by Choice
What aspect didn't smell right?

What I want to know is how much risk and loss Barnes put on the line. I don't know what his take was, but didn't Barnes sell his waste management company for hundreds of millions of dollars prior to starting Hermitage?

I think knowing his worth would really put his defaulting on debt obligations in perspective. Did he sign checks that his wealth couldn't cash or has he refused to pay bills he can clearly afford and decided to use every means he has to screw over local vendors and the local municipality

Sent from my XT1635-01 using AlpineZone mobile app

It seemed too ambitious and I also wondered about the money piece as you mentioned.
 

sull1102

Member
Joined
Oct 8, 2010
Messages
712
Points
18
Location
Boston, MA
It's the latter. He has the money 100%. Ownership of the club is a bit murky as far as how much exactly does Barnes own vs the members. Last year I was told over and over again that the club was all set because they had enough members signed up to be self sustainable. The whole concept of him not paying off basically any of the Berkshire loans is pretty much right in line with what would be expected of this type of character... He made his money in the trash business, who else was involved with the trash business once upon a time?

Sent from my LG-H820 using AlpineZone mobile app
 

bigbob

Member
Joined
Jul 10, 2007
Messages
474
Points
16
Location
SE NH
The rumor I heard the other day was he was caught fooling around with a you lady by his wife and she had he locked out of all the bank accounts!
 

sull1102

Member
Joined
Oct 8, 2010
Messages
712
Points
18
Location
Boston, MA
The rumor I heard the other day was he was caught fooling around with a you lady by his wife and she had he locked out of all the bank accounts!

Unless this is a new young girl, which is semi realistic, that rumor is over a year old now. Practically all of Southern Vermont knew about the first go around when the girl was supposedly pregnant.

Sent from my LG-H820 using AlpineZone mobile app
 

sull1102

Member
Joined
Oct 8, 2010
Messages
712
Points
18
Location
Boston, MA
Oh wow, I guess to some extent I kind of hoped for his wife and kids that wasn't the case. They always seemed like nice people and that's a tough thing to go through.

Sent from my LG-H820 using AlpineZone mobile app
 

Vaughn

Member
Joined
Feb 26, 2017
Messages
146
Points
18
It might be easier to list stuff Hermitage did actually pay for at this point.

Lifts - no
taxes - no
local vendors - no
utilities - no
 

tnt1234

Active member
Joined
Sep 12, 2014
Messages
1,221
Points
38
Interesting read: https://liftblog.com/2018/03/03/as-the-hermitage-faces-foreclosure-what-about-the-lifts/

Based on this, it would seem the likely course of action would be Chapter 11, followed a few years later with the members buying back the club for cents on the dollar?


Ha! A high end member co-op! A rich man's MRG.

"Pull your lexus right up tot he ticket counter Mrs. Got Rocks - you are working the snack bar today..."
 
Top