Saddleback Meeting

[jimk]

You don't run a business successful with that type of thinking. Not only to we want the both areas open but we also want to run Slide Brook every day if we can. Pinching pennies is not a long-term strategy. Creating value and getting paid for it is.

Best wishes in your new business model with Alterra and Sugarbush. Thanks for all you did over the years to make Sugarbush great again!

 

[danimals]

https://www.skijournal.com/new-owners-hoping-to-make-saddleback-one-of-the-top-resorts-in-the-east/

Some good stuff here.


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[bdfreetuna]

They have my total support!

Interesting about the "opportunity zones". Maybe rural areas should qualify as well as mismanaged urban areas?

 

[2Planker]

Mainada, this is the part of Maine referred to as occupied Canada, so yes, it does exist!

Haven't heard that term in 20+ years...
But, YES Mainada is indeed real. Our neighbor was born and raised 30 miles north of Rangely.
Most speak French in them parts....
World's Best Poutine is from the Bistro !!

 

[mister moose]

Haven't heard that term in 20+ years...
But, YES Mainada is indeed real. Our neighbor was born and raised 30 miles north of Rangely.
Most speak French in them parts....
World's Best Poutine is from the Bistro !!

I've been to Ft Kent, St Andrews, Eastport, to name a few blended towns. I've also been to Machias Seal Island, the last disputed territory between the US and Canada. That would be the real Mainada.

Very interesting history. A larger than life Mainer by the name of Barna Beale ran off the British in the war of 1812, and from then on it was the US. In the later 1800s Canada asked to put a light house there, (for shipping routes up to New Brunswick) and the US said sure. So the Canadians have had a lighthouse keeper in residence there since it was built. Still does. None of this mattered much until 12 mile territorial fishing rights were established. Canada said it's ours, we have had possession for over a hundred years. The US said no way, we just let you use it.

And so every day a descendant of Barna Beale goes out to the island with the biggest flag you ever saw on a 40 foot fishing boat. And in an age of solar cells and automated lights, Canada keeps the light manned.

 

[thetrailboss]

Bump.

Looks like Arctaris bought the place for $6.5 million?!

And they are asking locals to each "donate" $5,500 each to a non-profit for the area that will go towards the purchase. That is concerning.

They are still committed to $38 million in new infrastructure, no HS lifts are coming.

https://bangordailynews.com/2019/12...owners-to-pitch-in-on-resorts-revitalization/

 

[Smellytele]

Bump.

Looks like Arctaris bought the place for $6.5 million?!

And they are asking locals to each "donate" $5,500 each to a non-profit for the area that will go towards the purchase. That is concerning.

They are still committed to $38 million in new infrastructure, no HS lifts are coming.

https://bangordailynews.com/2019/12...owners-to-pitch-in-on-resorts-revitalization/

Actually asking the condo owners not really the “locals” but still concerning.


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[thetrailboss]

Actually asking the condo owners not really the “locals” but still concerning.


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True. Sounded like condo owners and others who rely on the resort.


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[WinS]

Best wishes in your new business model with Alterra and Sugarbush. Thanks for all you did over the years to make Sugarbush great again!

Thank you.

 

[thetrailboss]

According to LiftBlog.com, Arctaris has announced that the closing for the deal has been postponed now until January.

Hope that is not a bad sign.

 

[MEtoVTSkier]

From SnowJournal:

The Finance Authority of Maine (FAME) was scheduled to review Saddleback’s request to participate in FAME’s commercial loan guaranty program in support of this transaction. Given the complexity of this transaction involving support from both federal and state government partners, FAME requested that the Berrys and Arctaris consider advancing this discussion from their December meeting to their January board meeting.

 

[thetrailboss]

Looks like things are pushing forward.....

https://www.theirregular.com/articles/saddleback-update-fundraising-goals-outlined/

 

[Newpylong]

Promising!

 

[jimmywilson69]

I hope this works for them, but $5 million in "donated" money is a lot to ask for... Hitting their first goal is good. Doubling that in the next 18 days seems aggressive.

 

[NYDB]

I don't get the donation thing. Why does the new biz need 'donations'?

Why didn't people donate 5 mil years ago. Possibly could have kept the place open

 

[thetrailboss]

Looks like another delay.

https://www.centralmaine.com/2020/01/15/saddleback-loan-guarantee-meeting-postponed/

 

[EPB]

Looks like another delay.

https://www.centralmaine.com/2020/01/15/saddleback-loan-guarantee-meeting-postponed/

Sounds like a smaller scale Balsams saga all over again.

 

[MEtoVTSkier]

Looks like another delay.

https://www.centralmaine.com/2020/01/15/saddleback-loan-guarantee-meeting-postponed/

Same article that was posted on the 15th. Reads more like it is on FAME's end, wanting more info, than anything. Should be interesting if they reach their fundraising goal by the end of January...

 

[MEtoVTSkier]

Loan approved. Closing by the end of the week.

https://www.boston.com/news/skiing/2020/01/27/heres-the-latest-on-saddleback-mountain-in-maine

 

[Edd]

[emoji106]


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