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Jay Peak bombshell

sull1102

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Wow, I mean how are there not many government officials and others going to at least some country club jail for a couple years for these games. This is nuts.
 

thetrailboss

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It looks like Mr. Raymond is still in the EB-5 business.

Right. Nobody who was on the State side of the deal has suffered any real consequence. Moulton became President of VTC. Shumlin did opt not to run for reelection (perhaps as a result of this) but, at last check, is now adjunct faculty at Harvard.

From my POV the video of Shumlin looking into the camera and telling potential investors that the State "audits these projects" when it did not is particularly damning. Of course I imagine he will say that he was "told" to say that, perhaps by Stenger, but that State seal of approval is pretty bad.
 

thetrailboss

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Not good.


“This is particularly critical now,” Goldberg’s filing stated of the funds, “where the receiver is desperately in need of liquidity to support the operations of the Jay Peak Resort and the Burke Mountain Hotel during these unimaginable times involving (i) a global pandemic; (ii) the closing of the American/Canadian border (through which many of the Jay Peak Resort and Burke Mountain Hotel patrons cross); and (iii) the off-season for both properties.”
 

VTKilarney

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As sympathetic as I am to Goldberg, he made a deal. It will be interesting to see how these funds are categorized.
 

BenedictGomez

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It looks like Mr. Raymond is still in the EB-5 business.


It's absolutely astounding.

Recall that years ago before any of this scandal was publicly known, he was the guy I wanted answers from most, and he was the guy that was about 1/3 of what made my Spidey senses tingle because I knew he did not have the background or education to be doing what he was doing. In essence, he was the perfect gimp. And all of them involved are going to get off 100% free and in the clear. If they were going to get nailed, it would have been someone in the Trump Administration to do so, the Biden Administration will let this thing slide, because #1 it makes government look terrible, and #2 there are very powerful Democrats here who are in need of protecting.
 

Zermatt

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Mar 13, 2016
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how do the economics on indy pass work? anyone know?
Some % to the operators of the Indy Pass.

Remainder split at end of season based on scans?

That seems like the most logical way, but is counter to typical season pass discounts as resorts really want money early not late.... and why would an A list ski area like Jay Peak want to share equally with some dump ski area (literally on a landfill) in Iowa?
 

Killingtime

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Jan 16, 2018
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how do the economics on indy pass work? anyone know?
Check out the Storm Skiing Podcast with the founder of the Indy Pass. He talks about it. Last year each resort got about $48 per person per visit. I'm pissed I didn't get to use it for a Jay trip this year. Only used my Indy five times.
 

KustyTheKlown

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Check out the Storm Skiing Podcast with the founder of the Indy Pass. He talks about it. Last year each resort got about $48 per person per visit. I'm pissed I didn't get to use it for a Jay trip this year. Only used my Indy five times.

thanks i will find that pod. but that makes no sense to me. i used the $200 pass 8 times (jay2, magic2, bolton2, cannon1, berkshire1) - so far. there wasn't $48x8 revenue generated from my pass.
 

1dog

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Oct 2, 2017
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It's absolutely astounding.

Recall that years ago before any of this scandal was publicly known, he was the guy I wanted answers from most, and he was the guy that was about 1/3 of what made my Spidey senses tingle because I knew he did not have the background or education to be doing what he was doing. In essence, he was the perfect gimp. And all of them involved are going to get off 100% free and in the clear. If they were going to get nailed, it would have been someone in the Trump Administration to do so, the Biden Administration will let this thing slide, because #1 it makes government look terrible, and #2 there are very powerful Democrats here who are in need of protecting.
It constantly astounds me how much faith and trust people place in government - especially at higher levels - to solve problems, or worse put capital to work properly 'investing' and 'caring for the children'.

Barr was a disappointment in the end. Said the right things, rarely executed. How much money did the public lose? How much is the litigation going to cost? Place that against things that state government should be doing but isn't, and you get a decent picture of waste.

1616951799948.png
 

urungus

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Slightly off topic, but what does the green “check mark with a P” mean on the Jay Peak trail report (eg Upper Exhibition, Northwest Passage)

9F924961-123B-4EDD-A97D-E90E79466DCC.jpeg
 

VTKilarney

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JoeB-Z

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So the State failed to protect the investors and to be consistent the State decided not to protect the investors again?
 
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