Peak Resorts: The New ASC?

[180]

that moat is going to catch a lot of folks

 

[doublediamond]

What is this moat you guys speak of? Any pics?

 

[yeggous]

What is this moat you guys speak of? Any pics?

Yes, pics or it didn't happen


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[drjeff]

I've witnessed many times over the years that what gets done to a trail in the off-season often ends up looking nothing like what that same trail looks like come the beginning of the season, even sometimes if they rough seed the area with some grass to help with potential erosion issues.....

 

[catskillman]

The Moat is there!!! It is built with concrete sections that look like a brick wall. It is under the 6 pack, apparently for drainage I hear. You can't miss it. It has to be 30 ft long and 10 wide at least (from memory)

 

[steamboat1]

http://vtdigger.org/2016/09/09/mount-snow-blames-project-delay-federal-eb-5-scrutiny/

 

[FBGM]

http://vtdigger.org/2016/09/09/mount-snow-blames-project-delay-federal-eb-5-scrutiny/

Lols ship is sinking.

 

[deadheadskier]

Do you want it to?

I don't disagree with you. Things don't look good. I just hope they turn things around as they've done such a good job running Wildcat. It could still use a few million more in snowmaking upgrades, but what they've done is the best it's ever been and they deliver the longest ski season in the state there. So for my needs, I'm really happy with Peaks. I'd be nervous about new ownership at the Cat

 

[Los]

Do you want it to?

I don't disagree with you. Things don't look good. I just hope they turn things around as they've done such a good job running Wildcat. It could still use a few million more in snowmaking upgrades, but what they've done is the best it's ever been and they deliver the longest ski season in the state there. So for my needs, I'm really happy with Peaks. I'd be nervous about new ownership at the Cat

Having skied Wildcat a handful of times in the past two years and absolutely loving it, I agree. What they having going on now is phenomenal. A change of the guard would make me nervous too.

 

[steamboat1]

The job creation is just not there. A new base lodge creates next to zero new jobs since it's just replacing an existing base lodge. A new water supply creates next to zero new jobs since the mountain already has nearly full snowmaking coverage. There is no way a few new condo's will create over a thousand new jobs required by the $52M EB -5 investment. I'm not saying they're stealing money, they're just not meeting the requirements of the program.

And I don't want to hear the BS about about increased skier visits bringing more jobs to the area. Mount Snow operates at near capacity now.

 

[Jully]

Isn't there some way to declare that it's job preservation? I thought that was part of an eb5 venture for Saddleback awhile back.

 

[steamboat1]

Isn't there some way to declare that it's job preservation? I thought that was part of an eb5 venture for Saddleback awhile back.

I believe you're referring to Sugarbush which was declared a "troubled business" & only had to show job preservation. I don't think Mount Snow qualifies as a "troubled business".

 

[JimG.]

I think it's funny that they "blaming" federal oversight for the delays.

If VT had done basic due diligence to begin with maybe the Jay fraud never would have happened. Businesses that "blame" oversight for delays make me nervous. Makes me think they are hiding something too.

So now the VT mess will screw up skiing in other places like NY and NH. The Slutsky family must be giddy over their good timing selling Hunter. Hope we get to ski there in the future.

 

[sull1102]

Really hoping they can pull through this, they certainly have a plan based off everything they have done this summer. Snow is not at capacity yet, skier visits could increase a good bit, bad example, but this winter there were only a couple of Saturdays or Sundays that the Grand Summit had a line at all. A new lodge at Carinthia would employee more people than the current building just because it will be noticeably larger. I'm talking a couple of jobs here, not 100's or even 25, but new jobs will be created.

 

[steamboat1]

We're talking 1,040 jobs. The amount of new jobs that would need to be created from $52M of EB-5 investment.

 

[drjeff]

Once again everyone the jobs created by EB-5 investment don't all have to be at Mount Snow. The jobs created, both full and part time can be within the general area.

So Mount Snow/Peak Resorts in no way will, nor were they ever supposed to per EB-5 regulations, be adding over 1000 full time employees to their payrolls. We're talking cumulative job creation here, and that also includes any jobs created by the Hermitage Club in this number since they are within the geographic area as well.

Personally do I think that full number of jobs created will be reached, even within say a 50 mile radius? Not likely.

Having been a property owner in that area for almost 10yrs now and seeing how the community runs and has gone through significant ebbs and flows economically, do I feel that it will have an undoubtedly positive effect on the general economy of Southern VT from builders to service industry jobs to direct ski industry jobs? Yes

Now we can get back to Steamboat expressing for the umpteenth time that this entire concept makes no sense to him.... :Rolleyes:

 

[steamboat1]

Personally do I think that full number of jobs created will be reached, even within say a 50 mile radius? Not likely.

Glad we agree.

 

[BenedictGomez]

Once again everyone the jobs created by EB-5 investment don't all have to be at Mount Snow. The jobs created, both full and part time can be within the general area.

Most of them (we'll define this as >=50%+1) are "created" via creative and fraudulent accounting, the kind of which if an entity not backed by the government pulled off with revenue, lowered expenses, tax rate, etc.. or any other manipulated figure or financial statement metric, would see people fired or even hauled off to jail depending on the scale. Do it under the umbrella and/or with government blessing, and it's A-okay. Everyone involved knows this is going on. E-V-E-R-Y-O-N-E.

 

[JimG.]

Now we can get back to Steamboat expressing for the umpteenth time that this entire concept makes no sense to him.... :Rolleyes:

Frankly it makes no sense to me either. EB5 is a scheme to get foreigners to invest large sums of money in return for fast track citizenship.

The jobs created are no more than window dressing for publicity and VT isn't doing any better of a job monitoring that than they did monitoring the mess at Jay.

 

[cdskier]

Frankly it makes no sense to me either. EB5 is a scheme to get foreigners to invest large sums of money in return for fast track citizenship.

The jobs created are no more than window dressing for publicity and VT isn't doing any better of a job monitoring that than they did monitoring the mess at Jay.

Agreed...I understand that indirect job creation counts, but I still see no way anywhere near 1000 jobs would be created by this project somehow. I can see a handful of jobs being created...but even 100 would be a stretch from my perspective. This isn't anything against Mt Snow and what they are trying to do. I just don't see how EB-5 is justified for this (and many other projects). EB-5 needs to be much stricter with this job creation metric.