Why I outta.... . .
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Qft
People can tease about him all day, but the guy has been as successful a ski area developer in New England ski history as anyone.
jerryg
I appreciate the back up man, but we're wrong. BG has spoken.
I'm sure you'll love this, but he actually is wrong. SKI went public in 1997, I remember it very well as I know someone from college who was involved.
Well, I'm quite grateful that LBO ran his company so irresponsibly. I've enjoyed his infrastructure improvements every year for the past 30 seasons.
It doesn't matter what they save if they are not bringing in the revenue.
Well, I'm quite grateful that LBO ran his company so irresponsibly. I've enjoyed his infrastructure improvements every year for the past 30 seasons..........one person here apparently doesn't find that at all impressive.
BG - this it the type of logic I have to deal with
BG, I seriously doubt that LBO will make the same mistakes again.
I'll make you a deal.
You give me $200,000,000, and I'll build you the most impressive hotdog restaurant this side of the Mississippi.
I'm not going to promise you that the company wont be financially crippled and nearly bankrupt 5 years from now, but the heavy infrastructure and beautiful real estate in my dead hotdog company will still have plenty of value, so it will still be there long after I piss your $200,000,000 away, because somebody else will buy it for far less.
Imagine all the people who will be "grateful" that I destroyed shareholder equity.
Apparently the massive destruction of money is a "success" as long as something I enjoy is created by it.
With no real estate development possible, if Wildcat was truly running in the red, the old owner would have closed it long ago. Since Peak bought it, it has combined management costs with Attitash, which obviously improves the bottom line, and they have made massive snowmaking efficiency/pipe improvements, which means they can either make more snow for the same amount of money, or they can make the same amount of snow for far less. The HKDs and SnowLogics are far far more efficient than the Ratnik ground guns they used to run. Revenues don't matter. Profit does. And the summer improvements heavily improve their profit margin.
They will always need to rely on diesel compressors unless PSNH forks over money to improve the electric lines through the notch.
Did you buy your first ski resort at 30 years old and grow it from one of the smallest in New England to the second largest???? I'm not asking you to own the largest ski resort company, let's just start with one ski area.
hundreds of jobs still around because of LBO. that's a fact you can't deny