Jay Peak bombshell

[Smellytele]

I was looking at this quote:

Goldberg plans to market the properties together as early as May, and he expects to sell the two resorts before the next ski season. The settlement, he says, clears the titles for the hotel at Burke Mountain, and the hotel complexes, condos, water park and other amenities at Jay Peak Resort. In addition, the investors now own Jay Peak and Burke mountains and the ski operations.

So with that said, even if they sold both places for 100 million (pulled out of nowhere!), that is not even close to the amount of money LPs have invested in these resorts. I don't know the exact numbers (since some have taken their money back) but lets say there are still 500 LPs involved in both resorts, that would mean that both resorts would have to sell for 250 million and that is just to return their $500,000 initial investment. I don't see that happening.

Not that it would add much but there were some other properties as well. condo in NY amongst them

 

[mbedle]

Not that it would add much but there were some other properties as well. condo in NY amongst them

I was just reading the final judgement and yes there are 14 other real estate properties he owns. Can't wait to see how this all plays out.

 

[Grizzly Adams]

So I was at Stowe today and the lady selling tickets was talking about Jay Peak being up for sale and she was hoping Vail was going to buy Jay and said she thought there was a decent chance.... I think I actually got better service and higher quality experience at Stowe today than ever before; then again it was totally empty, the shitters better be clean.

Maybe if Vail buys Jay they'll figure out how to fix the perpetually awful stench in the Stateside lodge bathrooms too...

 

[Smellytele]

Maybe if Vail buys Jay they'll figure out how to fix the perpetually awful stench in the Stateside lodge bathrooms too...

in the new lodge?

 

[VTKilarney]

The Caledonian Record ran an article today. There was some interesting information given by the receiver:
1) There is already plenty of interest among prospective purchasers.
2) Goldberg will begin marketing Jay Peak in May.
3) Jay Peak will be marketed first, and Burke after - but it is possible that they will be sold together.
4) It is impossible to say at this point in time whether or not the EB-5 investors will be made whole.
5) He does not anticipate a sale for either property to close before November, 2018.
6) The resorts got off to a good start this winter, but the weather has had an impact on skier visits.

 

[Grizzly Adams]

in the new lodge?

yes, the main Stateside Lodge.

I've been a season pass holder at Jay for several years, and the Stateside bathrooms have always smelled like pure garbage. I've been the first one in the lodge on many occasions, and even with nobody there they stink to high heaven. The custodial staff is pretty diligent, I see them making frequent rounds to clean, but nevertheless, the reek is ever present.

This is one of my very few qualms with Jay, its still my favorite mountain by far... Sorry for getting off topic here

 

[Smellytele]

yes, the main Stateside Lodge.

I've been a season pass holder at Jay for several years, and the Stateside bathrooms have always smelled like pure garbage. I've been the first one in the lodge on many occasions, and even with nobody there they stink to high heaven. The custodial staff is pretty diligent, I see them making frequent rounds to clean, but nevertheless, the reek is ever present.

This is one of my very few qualms with Jay, its still my favorite mountain by far... Sorry for getting off topic here

I knew the old ones stunk

 

[bdfreetuna]

Let's be honest. We all know Canadians just piss straight onto the floor when outside of their home Province.

 

[Edd]

Just posting a random pic of Jay Peak here. For those who don’t use the iOS app, I’ve been seeing this random gif someone posted of some douche kicking another in the nuts for months it seems. I think I’ve learned all I can from this gif and I hope my pic displaces it.

Damn, it didn’t work! WTF is up with this gif?

 

[fbrissette]

Let's be honest. We all know Canadians just piss straight onto the floor when outside of their home Province.

And all that time I though it was the New-Yorkers !

 

[VTKilarney]

And all that time I though it was the New-Yorkers !

There aren't enough New Yorkers at Jay Peak to make that stench. And New Yorkers don't eat pemmican.

 

[BenedictGomez]

Anyone (New Yorker, Faux-New Yorker, Canadian, Swazilander) have a recent Jay Trip report?

I was there on Sunday and it was fine. Wondering if the warm-up and freeze since then has left the entire place a skating rink or not.

 

[LONGBOARDR]

Anyone (New Yorker, Faux-New Yorker, Canadian, Swazilander) have a recent Jay Trip report?

I was there on Sunday and it was fine. Wondering if the warm-up and freeze since then has left the entire place a skating rink or not.

Friday was pretty slick
got close to 6 inches last night, they were able to till that into most of the trails, pretty good recovery considering.
good corduroy groomers aced it
busy but not crazy 2 minute wait on the flyer at 11:30 am 5 at the bonnie
more snow tonight then likely some rain monday night

 

[BenedictGomez]

For a PDW Saturday, I'd say it's absolutely dead here.

 

[VTKilarney]

It turns out that the Governor was tighter with Quiros than we realized.

https://vtdigger.org/2018/03/18/shumlin-stayed-quiros-fifth-avenue-pad/

 

[BenedictGomez]

The former governor also received more than $20,000 in campaign contributions from Quiros, then Jay Peak CEO and President Bill Stenger and associates.

Those are the ones I found searching public records back before this scandal broke.

I posted the filings here in this thread but a mod deleted them saying it wasn't relevant and was merely "political".

 

[thetrailboss]

It turns out that the Governor was tighter with Quiros than we realized.

https://vtdigger.org/2018/03/18/shumlin-stayed-quiros-fifth-avenue-pad/

What a joke.

 

[bzrperfspec77]

What a joke.

Couldn't of said it better myself...

However, I always find it interesting reading about those type political stories. It's truely remarkable that sort of thing happens and some get away with it. Good on VT to dig it up and get to the bottom of it.

 

[thetrailboss]

Couldn't of said it better myself...

However, I always find it interesting reading about those type political stories. It's truely remarkable that sort of thing happens and some get away with it. Good on VT to dig it up and get to the bottom of it.

He hasn't been held accountable. Yet. At last check he was a visiting faculty member of the Harvard School of Government or Public Health teaching government. :roll:

 

[Smellytele]

He hasn't been held accountable. Yet. At last check he was a visiting faculty member of the Harvard School of Government or Public Health teaching government. :roll:

Did he get the Harvard gig because he told them he is Native American?