Stenger and Quiros Ousted from Management of Jay Peak and Burke

[yotefan]

Oh I imagine that Ary is there to show them where things are...and that he will probably be gone soon. However, he never did know where things were. When the Sherburne Lodge had a fire sprinkler break in January he had no idea where the water main valve was.

Is anyone aware of the sprinkler break in the new hotel? I heard the fire department had to break the new doors open with the jaws of life because Ary was unavailable to unlock the doors.

 

[VTKilarney]

Apparently Electric Mike is still at Burke. He seems to be trying to rally the troops and distance himself from Ary.

That's funny because at the last pass holder meeting he couldn't gush enough about what an honorable family the Quiros' are.

 

[56fish]

Bit off topic but you ought to look at Camelback Pa's summer business with the Camelbeach Water Park, a real money maker. Couple of similarities with Jay and Burke with a brand new hotel and the difficulties they went through to get it up and going but it is selling well from what I understand (may I add pretty nice too). Big difference in the location.

Alex

Lake Hopatcong, NJ

Location, location, location.....as well as smarts at the top. 7 Springs in w PA makes some serious non-skiing cash. As to dhs class back in '99....Jay looked a lot like pre-hotel Burke at the time.

 

[MEtoVTSkier]

That's funny because at the last pass holder meeting he couldn't gush enough about what an honorable family the Quiros' are.

And yet, didn't Mike's Electric just file a lien this last week?

 

[yotefan]

And yet, didn't Mike's Electric just file a lien this last week?[/QUOTEJe
Jerry Davis is suspect as well.

 

[VTKilarney]

And yet, didn't Mike's Electric just file a lien this last week?

Maybe that's why he needs the job.


.

 

[yotefan]

Is anyone else concerned about internet security as far as their IT staff goes? I'm not sure I'd book a room or buy a pass with my credit card with the current system.

 

[MEtoVTSkier]

Maybe that's why he needs the job.

Gee, by the looks of the Mike's Electric website, it's a successful business operating in multiple states. :roll:

Doesn't look like he needs a job at Burke with everything else he has going on... Must be another reason why he was there...

https://www.facebook.com/MikesElectricInc/?fref=ts

 

[Hawkshot99]

Saying that you believed Jay lost money during summer is almost a water is wet comment. Very few ski areas so much as break even during the summer. The three ski areas I worked at and had access to their financials did not turn a profit during summer. Snowshoe had massive weekend events, but was a ghost town midweek. The only reason they stayed open at all was to sell real estate. Another of those areas was Stowe, but pre-hotel days. The third was Wisp, which is located right on Deep Creek Lake, MD; a popular summer destination.

Back in 99' with your class, I would agree with you very much so for 90% of resorts.
However times have changed massively with the costs of energy, insurence, payroll. ... Resorts needed to come up with ways to make $ year roumd or face going out of buissnes.
Like you I can not speak for Jay, but I had 6 yrs of a management position at a resort (Jiminy Peak) and still talk to the owner of the resort several times every winter.
While the winters will bring far more $ through the register, the amount of costs that exist in the winter are so much greater than summer activities. For reference Jiminy does DH Mtn biking, alpine slides, arial coarses and many other rides. They also do a lot of weddings and conferences. Weekends are very busy, but with camps and other groups, the weekdays are still quite busy.
Overall there is more PROFIT in the summer than winter.

 

[BenedictGomez]

Bottom line: BenedictGomez is being proven right in every way.

I haven't arrived at perfection yet though.

I still need a Federal Indictment, but then I'll be like....

Spring semester of 1999 one of my senior classes in UVMs hospitality program was ski area management. One of the seminars had the GM from basically every ski area in the state. Stenger was there, Tim Meuller from Okemo, Hank Lunde from Stowe, Otten; a who's who in VT skiing.

Sounds like a day you wouldn't want to miss class.

 

[HowieT2]

Back in 99' with your class, I would agree with you very much so for 90% of resorts.
However times have changed massively with the costs of energy, insurence, payroll. ... Resorts needed to come up with ways to make $ year roumd or face going out of buissnes.
Like you I can not speak for Jay, but I had 6 yrs of a management position at a resort (Jiminy Peak) and still talk to the owner of the resort several times every winter.
While the winters will bring far more $ through the register, the amount of costs that exist in the winter are so much greater than summer activities. For reference Jiminy does DH Mtn biking, alpine slides, arial coarses and many other rides. They also do a lot of weddings and conferences. Weekends are very busy, but with camps and other groups, the weekdays are still quite busy.
Overall there is more PROFIT in the summer than winter.

I think you're right. Over the last 5 years many resorts have become more 4 season. I know sugarbush does good business in the summer. They have events almost every weekend. Marathons, triathlons, bike races. Kids camps. And foliage season is packed.

 

[halfpintvt]

Gee, by the looks of the Mike's Electric website, it's a successful business operating in multiple states. :roll:

Doesn't look like he needs a job at Burke with everything else he has going on... Must be another reason why he was there...

https://www.facebook.com/MikesElectricInc/?fref=ts

Mike's is a successful business but Jay Peak and Burke owe him over $900,000 in unpaid fees. He paid his workers but "Q" didn't pay him so he probably needs every dime he can raise.

 

[MEtoVTSkier]

Mike's is a successful business but Jay Peak and Burke owe him over $900,000 in unpaid fees.

But were they regular prices, or EB5 prices?

 

[JoeB-Z]

But were they regular prices, or EB5 prices?

One thing for sure is that now they are going to be the receiver's and bankruptcy judge's prices. This does bring up the good point that anyone who is seen to be in cahoots with Quiros and Stenger as to ripping off the EB5 investors is very unlikely to collect on amounts purportedly owed.

 

[freeski]

This does bring up the good point that anyone who is seen to be in cahoots with Quiros and Stenger as to ripping off the EB5 investors is very unlikely to collect on amounts purportedly owed.

Hmmm... That is an excellent point.

 

[VTKilarney]

VTDigger has a couple of good articles that were posted today. The one recapping Quiros' testimony to the SEC will save you a lot of reading.

 

[MEtoVTSkier]

Part 1 http://vtdigger.org/fullimagestory/jay-peaks-path-fraud/


Part 2 http://vtdigger.org/fullimagestory/eb-5-part-2/

 

[VTKilarney]

Part 1 http://vtdigger.org/fullimagestory/jay-peaks-path-fraud/


Part 2 http://vtdigger.org/fullimagestory/eb-5-part-2/

I liked the video featuring the governor saying how safe the program is because of the state's oversight.

 

[JoeB-Z]

More than oversight. Shumlin says the program is "audited" by the state.

 

[BenedictGomez]

Who says this to Federal investigators?

“It’s terrible what that son of a bitch did. I will — when this SEC gets over with, I’m going to go over after that man, I promise you. I will kill that man for what he did,” Quiros said.