• Welcome to AlpineZone, the largest online community of skiers and snowboarders in the Northeast!

    You may have to REGISTER before you can post. Registering is FREE, gets rid of the majority of advertisements, and lets you participate in giveaways and other AlpineZone events!

Saddleback Mountain Cooperative - Information Thread & Survey

joshua segal

New member
Joined
Jan 31, 2014
Messages
761
Points
0
Location
Southern NH
Website
skikabbalah.com
How?! Most people have work, so how many people could even make it to the meeting? Did that include people who offered money online? Sounds like they are off to a good start.
I wasn't there, but Peter debriefed me by phone after the meeting. He estimated attendance at 150. There was coverage from all the local newspapers, AP, all the local TV stations, NECN and I forget who else. He said, that the checks/pledges in hand were just from the meeting today. He felt they could not accept money until there was an agreement with the Berrys and this press conference was the official roll-out. The interest shown online is not included and when push comes to shove, he realizes that many of those who showed interest and indicated they would provide support, may not actually come through when the reality of writing a check comes along.
 

SnowRider

New member
Joined
May 11, 2006
Messages
544
Points
0
Location
The Flatlands Of MA
I don't know much about Saddleback but they need a copywriter to outline their plans. They sound indecisive and undecided. If I was an investor anywhere beyond local residents, this site wouldn't give me confidence. "Maybe we'll do this, but maybe we'll do THAT."
 

joshua segal

New member
Joined
Jan 31, 2014
Messages
761
Points
0
Location
Southern NH
Website
skikabbalah.com
I don't know much about Saddleback but they need a copywriter to outline their plans. They sound indecisive and undecided. If I was an investor anywhere beyond local residents, this site wouldn't give me confidence. "Maybe we'll do this, but maybe we'll do THAT."
Really? The plan is quite lengthy and as far as I know has not been posted publicly. Where did you see it?
 

thetrailboss

Moderator
Staff member
Moderator
Joined
Jun 4, 2004
Messages
28,139
Points
48
Location
NEK by Birth; Alta/Snowbird by Choice
Saddleback throws us a curve ball on their Facebook:

Saddlebackers, many of you by now have seen the Saddleback Mountain Foundation's announcement of their initiative to raise monies for the purchase of the mountain. We wish them well with their efforts. We continue to work with the Saddleback Mountain Foundation, in addition to the other qualified buyers who are also in the process of pursuing the purchase of the resort. When the trail is clear we will update you.

Wow. Just when we thought that was the end of the story.


Sent from my iPhone using AlpineZone
 

fiddleski

New member
Joined
Jul 21, 2015
Messages
45
Points
0
Location
Bethesda, MD; Rangeley, ME.
Wow. Just when we thought that was the end of the story.


Sent from my iPhone using AlpineZone

A long way from the end of the story. According to the foundation website:

On reaching $4 million in cash and binding pledges, SMCR, LLC will sign a purchase and sales agreement and gain exclusivity by providing a $500,000 deposit.

I take it that until the $4 mil is in hand and $500,000 put down, there's no change in status.
 

thetrailboss

Moderator
Staff member
Moderator
Joined
Jun 4, 2004
Messages
28,139
Points
48
Location
NEK by Birth; Alta/Snowbird by Choice
A long way from the end of the story. According to the foundation website:

On reaching $4 million in cash and binding pledges, SMCR, LLC will sign a purchase and sales agreement and gain exclusivity by providing a $500,000 deposit.

I take it that until the $4 mil is in hand and $500,000 put down, there's no change in status.

Exactly


Sent from my iPhone using AlpineZone
 

joshua segal

New member
Joined
Jan 31, 2014
Messages
761
Points
0
Location
Southern NH
Website
skikabbalah.com
I wouldn't hold my breath waiting for another buyer to come along. All of last year there was a stream of potential buyers that were not able to consummate a deal. As Peter said, it's just a matter of how fast the Foundation can raise the money.
 

uphillklimber

Active member
Joined
Mar 16, 2003
Messages
2,542
Points
38
Location
Bryant Pond, Maine
A bird in the hand.... I hope they can make this happen.

Joshua, I understand you are in a position of knowledge, but also have the restriction of confidentiality. Whatever you can share is appreciated, and what you can't, well.... you can't.
 

MEtoVTSkier

Active member
Joined
Jan 25, 2011
Messages
1,230
Points
38
Location
Aroostook County, ME
That ain't it. That's about 10% of it.

So says you, but that's all they threw out there, so that's all there is for the rest of us to go on. It already seems overly optimistic for the short term, so if there's 90% more that they are keeping secret, then that doesn't inspire a lot of confidence in the plan. Maybe a longer timeline would allow for it all to work, but it seems more like the Berry's are looking for a short-term solution.
 

SnowRider

New member
Joined
May 11, 2006
Messages
544
Points
0
Location
The Flatlands Of MA
So says you, but that's all they threw out there, so that's all there is for the rest of us to go on. It already seems overly optimistic for the short term, so if there's 90% more that they are keeping secret, then that doesn't inspire a lot of confidence in the plan. Maybe a longer timeline would allow for it all to work, but it seems more like the Berry's are looking for a short-term solution.

Exactly, if their plan is really to crowdfund in order to get back to operational status, plans need to be available to everyone. If I was skier outside of the immediate economic area it impacted, I would want to see more concrete plans than "zipline here, a lift there, new trails over on that mountain" before I invested. It's all wishy-washy "pie in the sky" ideas demonstrated through a quick Microsoft paint graphic.

The Balsams, no matter how overly optimistic they might be, at least have an well designed website that communicates exactly what they want to do in order to expand and develop the resort.
 

joshua segal

New member
Joined
Jan 31, 2014
Messages
761
Points
0
Location
Southern NH
Website
skikabbalah.com
Until the deal is actually closed, there are certain aspects of confidentiality that have to be maintained. What's posted is a pretty good overview. To the extent you are worried about details, the team at the Foundation has thought it out. They are a really hi-powered team of very successful people. I'm sure if you wanted to contact them pertaining a donation or a membership share, that they will accommodate your request for more information. There is a difference between keeping something secret and not broadcasting it.
 

salsgang

Member
Joined
Jan 10, 2007
Messages
817
Points
16
Location
Southern Coastal Maine
I think the co-op / Saddleback Mountain foundation model is the best viable path forward for the mountain and the region as a whole. It will be a tremendous challenge for the foundation but I will be rooting them on and helping all that I can to make this a reality. I put a post on my blog for those wanting to read a more long-winded explanation of support.

http://www.maineskifamily.com/2016/10/editorial-opinion-on-current-saddleback-situation.html
 

joshua segal

New member
Joined
Jan 31, 2014
Messages
761
Points
0
Location
Southern NH
Website
skikabbalah.com
I agree with salsang. Looking over the financials and knowing the last two owners and their horror stories, the co-op/foundation has finally come to the conclusion that perhaps its time to move beyond the "built-it-and-it-will-be-profitable-model". I can't imagine an investor in his right mind dumping more money into the mountain with the hope of profitability.
 

bdfreetuna

New member
Joined
Jan 12, 2012
Messages
4,300
Points
0
Location
keep the faith
"trails on that mountain over there" sounds good to me. I'm not investing though. If I had an extra $2000 to kick down and I lived a little closer, I would.
 

salsgang

Member
Joined
Jan 10, 2007
Messages
817
Points
16
Location
Southern Coastal Maine
As part of the fundraising effort to get to the initial $4MM the organization will be selling 'membership levels' that will entitle folks to different benefits depending on the membership level. I hear the group will be able to start accepting funds later this week.


I have been authorized to post a preview of the membership form - I have it up on my Facebook page - you should be able to view it even if you don't have Facebook as my page is public.


https://www.facebook.com/MaineSkiFamily/


Long ways to go but steps forward are being made! More info on the organizations efforts are available on their website:

http://www.skisaddlebackme.com/
 
Last edited:

AdironRider

New member
Joined
Nov 27, 2005
Messages
3,208
Points
0
2 grand for 1 adult and 1 teen/kid pass, at Saddleback. Oh you get a free drink at a restaurant.

I wish all of you luck but you aren't going to succeed with that pricing.
 

salsgang

Member
Joined
Jan 10, 2007
Messages
817
Points
16
Location
Southern Coastal Maine
2 grand for 1 adult and 1 teen/kid pass, at Saddleback. Oh you get a free drink at a restaurant.

I wish all of you luck but you aren't going to succeed with that pricing.

All comments / feedback welcome of course but it is more than just getting a season pass. Contributors are helping a community organization to purchase a ski mountain... for the community. More info on the Saddleback foundation website.

http://www.skisaddlebackme.com/
 

cdskier

Active member
Joined
Mar 26, 2015
Messages
3,739
Points
38
Location
NJ
2 grand for 1 adult and 1 teen/kid pass, at Saddleback. Oh you get a free drink at a restaurant.

I wish all of you luck but you aren't going to succeed with that pricing.

Honestly that isn't unreasonable. This is somewhat similar to shares at MRG (although at MRG you're an actual owner with a share while here that's not officially the case). MRG shares cost $2K and you don't get a season pass with that...
 
Top