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Jay Peak bombshell

thetrailboss

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One thing confuses me in the article. They keep mentioning Newport CITY.That's not Newport Center? Or are they talking about Newport which is on the south shore of Memphremagog?

Yeah it is confusing....I will need to defer to someone who knows the exact boundaries. There is Newport City, Newport Town, and Newport Center.
 

kingdom-tele

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newport town and newport center are the same place, newport city is a different town altogether

we have differnet schools, taxation, municiples, etc

the boundry is along the west side of the lake for the most part.
 

dlague

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It is the City of Newport and the location overlooks the lake. Newport center is the neighboring town.


.......
 

Abubob

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So is this property they're talking about?

Screen_Shot_2014-09-25_at_12_24_55_PM.png
 

mbedle

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yes - that is the property. What I found interesting or at least coincidental was that the plant use to manufacture ski clothing...
 

dlague

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yes - that is the property. What I found interesting or at least coincidental was that the plant use to manufacture ski clothing...

Yup former Bogner plant which is also the reason there used to be a vigneron outlet in Newport many years ago!



.......
 

BenedictGomez

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That Brent Raymond guy still has his job? Things sure do move slowly in Vermont.

Mark my words, he'll be gone soon.

But in typical government (zero accountability) style, he'll likely either:
A) Transfer
B) Resign
C) Take a job elsewhere

rather than "technically" be fired.

My guess is, the only reason he still has his job, is that if they do get rid of him it's an automatic admission of failure. That's also "very government".
 

BenedictGomez

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In an email to the state, one of the investors, whose name was redacted by state officials, says he can’t understand why Raymond isn’t acting in an independent capacity, “unless the representations by the state of Vermont and its Regional Center are in and of themselves misrepresentations to induce investors?

Noooooooooooooooo.

You don't POSSIBLY think, do you?

Capt._Obvious.jpg
 

BenedictGomez

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the governor made comments about the state’s level of oversight of the investment program that were inaccurate and needed to be removed from a promotional video produced by Jay Peak. Shumlin incorrectly said the projects are audited.

Audited? Why on earth would they ever need to be audited?

It's not as if they're receiving HUNDREDS of MILLIONS of dollars or anything.

Oh.........wait........


This story makes Vermonters look like the uneducated & backwards hicks that judgmental & arrogant New York City and Boston tourist types already think they are.
 

BenedictGomez

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Holy crap, I hadn't had a chance to finish the full article.

“Moreover, you will recall that a couple of years ago we asked you to hire an outside auditor to do just that and you (Stenger and Quiros) reported to us that it was too much of an expense and that you would rely upon the overall audit done on Jay Peak rather than a separate audit focused exclusively on EB5,” Kessler wrote. “So, the reality is an audit of Jay Peak’s EB5 projects is not performed by the State OR Jay Peak.”

I'm at a complete loss for words.
 

VTKilarney

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I know that people are quick to say that "they got what they deserved." But that's absurd. First, we don't know what they were promised. Second, it's pretty cold hearted to not give a crap if someone was mislead or ripped off. Second, This is going to have an impact on ALL business in Vermont to attract funding - including ski areas.

I'm willing to bet that the final chapter of this story is far from written.
 
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