Mount Snow changes Snowmaking plan!

[threecy]

and for ALL of the things that we are complaining about right now, Killington was not upfront about them, instead they waited until AFTER the initial pass deadlines to announce them

If I recall, the Pico announcement was made pretty early on. The Stage 1 decision may have been made in part as a result of season pass sales.

 

[millerm277]

If I recall, the Pico announcement was made pretty early on. The Stage 1 decision may have been made in part as a result of season pass sales.

How about the children's program rates?

Don't forget, they didn't announce the Skyeship Stage 1 decision....it was pried out of them, thanks to someone posting an email from the top confirming it.

 

[threecy]

How about the children's program rates?

Don't forget, they didn't announce the Skyeship Stage 1 decision....it was pried out of them, thanks to someone posting an email from the top confirming it.

Childrens program rates? As far as I know, they didn't tell anyone who had prepaid their childrens programs that they owed more money.

Regarding the Stage 1 issue, I don't know how it all shook out, but often times people near the ski industry like to think they influenced a decision or forced an announcement when they really didn't. Couple that with the internet, and who knows what's going on. I don't read K-Zone, so I don't know what happened over there, though.

 

[snowman]

Childrens program rates? As far as I know, they didn't tell anyone who had prepaid their childrens programs that they owed more money.

Regarding the Stage 1 issue, I don't know how it all shook out, but often times people near the ski industry like to think they influenced a decision or forced an announcement when they really didn't. Couple that with the internet, and who knows what's going on. I don't read K-Zone, so I don't know what happened over there, though.

I don't even know if I'm required here anymore. Threecy is running a pretty good counterpoint program here to all this foolishness. :smile:

 

[snowman]

Wow - you really don't know what you're talking about. If there was any doubt as to the veracity of the ASC numbers, the buyer could have insisted on a carve-out audit of K-Mart's financials for the last few years. This step is generally only taken when the acquiror os a public company themselves but can be used in many other situations. That would resolve a lot of the questions right there.


Get a clue.

Oh, I have a lot of clues. It doesn't even take a detective to put this one together. It all starts and ends in Texas. There's a saying in Texas. "Everything is bigger in Texas". The fact is, everything is NOT bigger in Texas, it's the same size. They just TELL you it's bigger. The saying came about from the fact people from Texas tend to be the biggest BSers in the land. I caught a fish thisssssssss big. Not convinced? Let me tell you a story about a little company called Enron. Oh yes Enron. How do we stretch to Enron? We don't. Why don't we? Because we don't have to! Enron and Oak Hill capital are intertwined in the same "good ole boys" club.

So, why would a company from Texas (which knows nothing about skiing) buy into a failing skiing company? Because they weren't in it to run it, they were in it to make a quick buck in an Enron like fashion. It's not even 5 seasons since they first started the buyout and already they're out, free and clear. There are a million and a half ways to cook a companies books. The thing is, only 500,000 of them are illegal. Enron got caught when they got so greedy they ran thru all the legal ways and strayed into the illegal ones. However, all that aside, it doesn't even take a corner store operator to figure out the best way to cook ASC's books. It's staring you right in the face. Your beloved all 4 one pass. That gives them the ability to assign ALL of ASC's revenues for the entire year to just one of their resorts if they so desire. Where that's a bit radical, the books are probably cooked whereby pass visits at areas are assigned values POST ski season (like one visit at K is worth $70 while one visit at Attitash is worth $7) to twist and bend the numbers to suit needs. Better yet, when you're selling a resort, you don't have to give the buyer full disclosure on what's going on at your other resorts, you just have to give them disclosure on what's going on at the one they're buying, so it's that much more difficult to try and figure out what the real picture is. The all 4 one also gave them a vehicle to move profits/losses to states with a better taxation scenario during the holding period. Where it would surprise no one if Attitash lost a million dollars in one season, it also wouldn't surprise anyone if they lost 3. You take a skim from those resorts which everyone knows are slumping and use them to pump the profits at K to command a premium price. Resorts like Attitash don't sell on earnings because they've been left to bend and twist in the wind for so long that people buy them as "fixer uppers". A fixer upper sells on what it's assets are worth. It wouldn't matter if Attitash made 500k or lost 3 million last year, it would still sell for the same price. K however, was sold as a going concern and the new owners understood who they were buying it from and are conducting themselves accordingly in a due dilligence fashion for the 2007-2008 ski season.

Nevertheless, be my guest and have another glass of Kool-Aid.[

I'll take a a berry punch please. My throat is dry from explaing the ways of the world to you. BTW, nice Kool-Aid stand you're operating there. I'm not sure how far you'll get giving your Kool-Aid away for free though..... Hmmm...that reminds me of .... lol

 

[bvibert]

Does anyone else have anything to say about Mount Snow and their plan changes? Let's get this back on topic or I'll close it, this KMart battle is going no where fast. :roll:

I would have split the KMart posts into a new thread, but there were more of those than actual Mount Snow posts, so I gave up...

 

[Greg]

Does anyone else have anything to say about Mount Snow and their plan changes? Let's get this back on topic or I'll close it, this KMart battle is going no where fast. :roll:

I would have split the KMart posts into a new thread, but there were more of those than actual Mount Snow posts, so I gave up...

Agreed. There are plenty of other threads to discuss Killington.

 

[Vinny]

Oh, I have a lot of clues. It doesn't even take a detective to put this one together. It all starts and ends in Texas. There's a saying in Texas. "Everything is bigger in Texas". The fact is, everything is NOT bigger in Texas, it's the same size. They just TELL you it's bigger. The saying came about from the fact people from Texas tend to be the biggest BSers in the land. I caught a fish thisssssssss big. Not convinced? Let me tell you a story about a little company called Enron. Oh yes Enron. How do we stretch to Enron? We don't. Why don't we? Because we don't have to! Enron and Oak Hill capital are intertwined in the same "good ole boys" club.

So, why would a company from Texas (which knows nothing about skiing) buy into a failing skiing company? Because they weren't in it to run it, they were in it to make a quick buck in an Enron like fashion. It's not even 5 seasons since they first started the buyout and already they're out, free and clear. There are a million and a half ways to cook a companies books. The thing is, only 500,000 of them are illegal. Enron got caught when they got so greedy they ran thru all the legal ways and strayed into the illegal ones. However, all that aside, it doesn't even take a corner store operator to figure out the best way to cook ASC's books. It's staring you right in the face. Your beloved all 4 one pass. That gives them the ability to assign ALL of ASC's revenues for the entire year to just one of their resorts if they so desire. Where that's a bit radical, the books are probably cooked whereby pass visits at areas are assigned values POST ski season (like one visit at K is worth $70 while one visit at Attitash is worth $7) to twist and bend the numbers to suit needs. Better yet, when you're selling a resort, you don't have to give the buyer full disclosure on what's going on at your other resorts, you just have to give them disclosure on what's going on at the one they're buying, so it's that much more difficult to try and figure out what the real picture is. The all 4 one also gave them a vehicle to move profits/losses to states with a better taxation scenario during the holding period. Where it would surprise no one if Attitash lost a million dollars in one season, it also wouldn't surprise anyone if they lost 3. You take a skim from those resorts which everyone knows are slumping and use them to pump the profits at K to command a premium price. Resorts like Attitash don't sell on earnings because they've been left to bend and twist in the wind for so long that people buy them as "fixer uppers". A fixer upper sells on what it's assets are worth. It wouldn't matter if Attitash made 500k or lost 3 million last year, it would still sell for the same price. K however, was sold as a going concern and the new owners understood who they were buying it from and are conducting themselves accordingly in a due dilligence fashion for the 2007-2008 ski season.



I'll take a a berry punch please. My throat is dry from explaing the ways of the world to you. BTW, nice Kool-Aid stand you're operating there. I'm not sure how far you'll get giving your Kool-Aid away for free though..... Hmmm...that reminds me of .... lol

I've been holding off to reply to all this goop, but sorry, I'm going against my nature and lashing out. (Already know it's a bad move. Sorry all.) Did you major in gibberish? This is UN-believable garbage.

Oh, and you're also way wrong about all K-whiners being 15-60k non-business types.

Won't post again, so load your sightless gun and shoot away. I've had my last say on this.

 

[AdironRider]

Is snowman even an accountant, or have any form of education in "cooking" books. I do, and hes full of it. Hes making assumptions across the board to make his points.....

 

[bvibert]

This thread has run its course. It's obvious that it's not going to get back on topic...