Jay Peak bombshell

[VTKilarney]

I heard that rumor a couple of weeks ago from a very reliable source.


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[fbrissette]

I heard that rumor a couple of weeks ago from a very reliable source.

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Good grief. This project is supposedly fully EB5-financed, which means the money should be there.

 

[thetrailboss]

Good grief. This project is supposedly fully EB5-financed, which means the money should be there.

Exactly. "Supposedly" fully funded.

 

[VTKilarney]

I am sure that Stenger will say that DEW allegedly walking off is a "good thing" for the EB-5 projects.


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[thetrailboss]

I am sure that Stenger will say that DEW allegedly walking off is a "good thing" for the EB-5 projects.


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They needed a well-deserved break because they were working SO hard!

 

[River19]

They needed a well-deserved break because they were working SO hard!

"Everything is fine, everyone is Happy !!!!!"

 

[BenedictGomez]

 

[burski]

Another VT Digger Article on Jay - http://vtdigger.org/2015/08/19/jay-...il&utm_term=0_85838110bc-86bba5dbb4-286333017

This appears as it ultimately could affect West Bowl.

 

[BenedictGomez]

This appears as it ultimately could affect West Bowl.

SPOILER ALERT: The West Bowl in not happening.

 

[fbrissette]

SPOILER ALERT: The West Bowl in not happening.

I don't think this is the biggest hurdle to the West Bowl project anyway.

I can tell you that Jay Peak has been going crazy those past few months on erosion control all over the place, including high up on the mountain. They have laid out geotextiles everywhere, relayered rocks on most stream and are putting hay all over bare grounds. I had already figured out that they had failed their requalification on stream quality.

 

[LONGBOARDR]

I don't think this is the biggest hurdle to the West Bowl project anyway.

I can tell you that Jay Peak has been going crazy those past few months on erosion control all over the place, including high up on the mountain. They have laid out geotextiles everywhere, relayered rocks on most stream and are putting hay all over bare grounds. I had already figured out that they had failed their requalification on stream quality.

I didn't think that west bowl was going to happen either, with them not paying contractors on time for current projects.
Even if they got Eb-5 money for a lodge and hotel, where is 25 million for lifts going to come from?
To be honest, I am ecstatic, it is so easy to ski West Bowl and the woods and wildlife are amazing.
The depth of snow there is often breathtaking.
I was hiking in west bowl and vicinity last week, there was a good amount of suspended sediment in some of the streams so that does not help JPRs case

 

[ss20]

I'm just gonna leave this here...

http://www.newenglandskiindustry.com/viewstory.php?storyid=304

How's EB-5 been working for you guys?

 

[BenedictGomez]

If I'm a foreign investor looking at EB-5 choices in Vermont (assuming I've done research and know my azz from my ears), you'd better believe I'm investing my money in SKIS rather than Jay Peak / Burke.

A publicly traded company with open financials routinely filed with the SEC, is a wee-bit better bet than what might be lurking behind Door number 3 at Jay Peak / Burke.

 

[VTKilarney]

New article:
http://vtdigger.org/2015/10/27/dissident-tram-haus-investors-file-formal-complaint-with-state/


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[BenedictGomez]

I never heard what happened with the forensic accountant who started sniffing around. I'm surprised VTDigger hasn't provided an update on that end.

Also.....

While it is unclear the scope of the federal regulatory review, Donegan has said state regulators are looking forward, not backward, at Jay Peak projects

The Feds are clearly looking at the prior work, and with obvious good reason.

And I wish the Feds would intervene with the forward projects as well, because the Vermont State crew has proved itself intellectually unfit to handle the accounting for a 5¢ lemonade stand.

 

[thetrailboss]

This is not going away.

 

[HowieT2]

curious what the effects are of the weakness of the canadian dollar on Jay. I assume they count on a lot of canadian customers.

 

[machski]

curious what the effects are of the weakness of the canadian dollar on Jay. I assume they count on a lot of canadian customers.

Last I knew, they take CAD at par with USD. So they may take a slight loss depending on their client ratio given the weak CAD.

 

[thetrailboss]

Last I knew, they take CAD at par with USD. So they may take a slight loss depending on their client ratio given the weak CAD.

+ 1. They rely HEAVILY on the Canadians to cross the border. They've taken CAD at par for a long time.

 

[VTKilarney]

Lodging is only 50% at par, IIRC.


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