Magic Mountain ...

[mlctvt]

Just out of curiosity, what gave you the impression that Magic has so little vertical? I only ask because Magic seems to suffer from misconceptions so I thought it might be interesting to hear about what is causing those misconceptions. Not only does Magic have a lot of vertical, but it makes better use of that vertical than any other mountain under 2k in New England.

I think a lot of people just have no idea that the mountain is there, and those that do know about it think it's a small hill or just not modern enough to consider skiing there.

I have a condo at Mount Snow so I ski there almost every weekend. I buy the blackout pass and I ski other areas during the holiday blackouts.
Last year I was skiing with a bunch of other second homeowners at Mount Snow and I was talking up Magic. Most of them couldn’t understand why I wanted to ski Magic. I talked about the awesome terrain, and how I liked it better than Mt Snow. The trail layouts being “like it used to be” narrow trails more naturally cut, not large wide boulevards like some of the trails at Mount Snow. I guess several of them got sick of me talking up Magic. One guy, who’s a great skier by the way, says “I don’t understand you liking an old school mountain like Magic, today’s skis and skiing style doesn’t fit in with a mountain like Magic.” When I said “you know like the last run we took down Uncles, it’s just more challenging and fun”. Uncles by the way is one of the few narrow “old school” trails left at Mount Snow.
I couldn’t understand that a really great skier wouldn’t consider Magic, I just don’t get it but maybe there are many others that feel this way?

 

[GrilledSteezeSandwich]

Send Magic your money

 

[bvibert]

I couldn’t understand that a really great skier wouldn’t consider Magic, I just don’t get it but maybe there are many others that feel this way?

It's baffling, if they ever tried skiing there I can't imagine they'd have the same opinion, and if they did then I really don't get it. Oh well, their loss.

 

[riverc0il]

It's baffling, if they ever tried skiing there I can't imagine they'd have the same opinion, and if they did then I really don't get it. Oh well, their loss.

Unfortunately, if that coop thing does not come together, it might be everyone's loss that not enough people got there these past few years.

 

[Ski Diva]

Just read in the Rutland Herald that Magic has paid its overdue back taxes, giving it more time to sell enough shares to recapitalize the mountain and stay in business:

http://www.rutlandherald.com/article/20090818/NEWS02/908180373/1003/NEWS02

 

[bvibert]

Unfortunately, if that coop thing does not come together, it might be everyone's loss that not enough people got there these past few years.

Very true, unfortunately. I really hope that they can stay in operation...

 

[mlctvt]

Just read in the Rutland Herald that Magic has paid its overdue back taxes, giving it more time to sell enough shares to recapitalize the mountain and stay in business:

http://www.rutlandherald.com/article/20090818/NEWS02/908180373/1003/NEWS02

from the article it looks like they've only sold about 66 shares so far. They are hoping to sell 200 shares before 9/1, but that's only two weeks from now.

 

[thetrailboss]

from the article it looks like they've only sold about 66 shares so far. They are hoping to sell 200 shares before 9/1, but that's only two weeks from now.

Looks like they are close....

He said 175 people have committed but not yet given him the funds.

 

[Greg]

It's my understanding that opening this season is still up in the air. Hopefully, they can pull it off.

 

[St. Bear]

I hope they can, because I definitely was going to make it up there with the Connecticut Ski Club discount.

 

[faceplant]

Magic email from a few days back

'August 24, 2009



Dear Friends of Magic:



I am writing to provide an update on share sales and the upcoming season. First and foremost I want to extend my thanks to those of you who have purchased shares thus far. I am greatly appreciative of your support for the mountain. In terms of share sales, we are creeping up on 100 which is obviously far from the threshold goal of 300. There are still many people who have expressed an intent to purchase shares who have not done so yet. We cannot move forward with the current level of sales. There is the possibility that we could move forward with less than 300 shares are sold if it appears that the goal of 300 is attainable over the next few months. That scenario would require the assent of all of those who purchase shares to the reduction of the threshold, and it would require revising the budget to accommodate the reduced share sales.



Undoubtedly all of those who are reading this letter are surmising that the continued operation of the mountain for the 2009-10 season is in jeopardy. That is a possible outcome, but it is too early to reach that conclusion because there are many people out there who will participate who simply have not yet taken action. However, we do have considerable work to do in terms of raising capital. I fully appreciate the economic strain which many are experiencing, and like many families, Magic may need to modify its plans until the economy improves. My goal at this juncture is to keep Magic open and moving forward, and I am prepared to revise the plan and budget according to the level of support we receive provided that we reach a point where adequate funding exists to enable the mountain to remain operational for several years. It is still relatively early in the share sale process, and based upon the responses to the offering I have received, I believe that the desire and ability to support this cause exists. As such, I am hopeful that there are many more people who will participate, as we need to substantially increase share sales before we can even consider moving forward.



The time for action is now, as time is of the essence in order to properly prepare the mountain. Therefore, if you have the financial wherewithal, and if you desire the mountain to remain operational, please send in your Subscription Agreement today. Each share sold makes a difference, so this is not a time to stand on the sidelines. We need to double our subscriptions by September 4th. All of the documents, including the Subscription Agreement, can be found on www.magicmtn.com.



Thank you all for your attention to this correspondence. Together we can make this plan work, but it requires immediate action on the part of the Magic enthusiasts. Please feel free to contact me with any questions.



Sincerely,



Jim Sullivan

President'

 

[GrilledSteezeSandwich]

wow..so 200 more shares needed..yikes

 

[thetrailboss]

Not good news. Looks like we have a lot of people on the fence...or a lot of people blowing smoke. IIRC the share price was $3,000 or so, yes? I imagine that many folks are waiting for others to pony up before risking...err....investing their money on an operation that might not fly.

A few weeks ago I thought that they had 175 sold. With their deadline a few days away, and only 100 of the 300 sold, this is not good sad to say. This is not a surprise given that they only had 16,000 skier days last season I really wish them the best...unfortunately this economy and the fact that they are a weather dependent business really hurts.

 

[MommaBear]

Its just bad timing for us - we would have bought a share but the extra money just isn't there right now.

 

[thetrailboss]

Its just bad timing for us - we would have bought a share but the extra money just isn't there right now.

I think that a lot of people are saying the same thing. It is too bad, but it sounds like the owner/President is going to find some way for them to open.

 

[St. Bear]

There must be other alternatives that they're considering. The easiest would be to model Plattekill and only open for weekends and holidays. That way they save on the biggest financial burden (wages), and whatever snow they do get will last longer, helping out with the snowmaking dilemma.

 

[GrilledSteezeSandwich]

There must be other alternatives that they're considering. The easiest would be to model Plattekill and only open for weekends and holidays. That way they save on the biggest financial burden (wages), and whatever snow they do get will last longer, helping out with the snowmaking dilemma.

It seems like it would be tough to staff the place for only weekends and holidays..I would figure the Magic employees would find employment elsewhere..the best Magic can hope for is if they are bought out by another ski resort..then they will get the necassary improvements to be able to have a chance at being profitable..

 

[Mapnut]

A very hypothetical question: if you had a few million dollars (not unlimited funds) and you wanted to save Magic, would you just buy the 200 shares they need to sell to keep going - and continue buying more so you own the majority - or just buy the place outright so you have full control?

 

[St. Bear]

A very hypothetical question: if you had a few million dollars (not unlimited funds) and you wanted to save Magic, would you just buy the 200 shares they need to sell to keep going - and continue buying more so you own the majority - or just buy the place outright so you have full control?

Probably depends on if you want to run the place (buying it outright), or just keep it open (buying the rest of the shares).

 

[roark]

It's been awhile since I looked at the documents but I recall something about the existing owners retaining a majority % of the total shares... I could be totally wrong and I'm too lazy to look it up...