MEtoVTSkier
Active member
More post deletions? :roll:
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Stenger and Quiros Ousted from Management of Jay Peak and Burke
- Thread starter thetrailboss
- Start date
steamboat1
New member
abc
Well-known member
Look, this whole side track started when you suggest the Jya/Burke fiasco have organized crime connect. You went to say all ponzi schemes have to have organized crime connection in order to pull it off.
So it's only natural the Madoff affair, the biggest Ponzi scheme of today, has to have organized crime connection. Otherwise, your little theory would fall apart.
To say you don't know if the Madoff affair has organized crime connection or not, there goes your supporting evidence of organized crime connection to Ponzi schemes.
BenedictGomez
Well-known member
FALSE.
Months back I originally said, "it wouldn't surprise me (exact phrase used) in the least if it turns out that organized crime is involved" given the sums involved, and the numerous unanswered questions and total lack of scrutiny (which I still think is possible), but I clearly didn't predict for certain or say that it "does" have to have organized crime involvement.
FALSE.
I never said that (in fact, that's a really dumb statement and makes absolutely no sense, especially to someone who knows something about financial fraud and works in finance).
I think I know what you are talking about here. It is rumored, and it is not my rumor, that the previous owners of Jay Peak "may" have been involved in organized crime in Canada.
This article from todays globe leads me to believe that EB5 program isn't likely to end any time soon based on what's going on VT. More oversight? Sure. I don't think they'll ever get a handle on FTE calculations though. How many FTEs does an urban apartment complex generate? Probably not as many as a hotel complex.
https://www.bostonglobe.com/busines...opportunity/0rwK4AiaTONeedVHHb0dPL/story.html
https://www.bostonglobe.com/busines...opportunity/0rwK4AiaTONeedVHHb0dPL/story.html
BenedictGomez
Well-known member
By design; because if it did, then the EB-5 program would end.
Oz falls only when the man behind the curtain is revealed to the masses.
mbedle
Well-known member
Good reading on some new stuff posted at jaypeakreeceivership.com. Interesting to note that the total shortage to complete all phases of the EB-5 project is $69,000,000. That was based on data collected through September 30, 2015 and includes raising an additional 27 million from new investors in the biotech project.
http://www.wcax.com/story/31810782/kingdom-con-sharp-contrast-to-eb-5-success-stories
Most notably, Sugarbush's co-owner comments about how the EB-5 program worked there and his thoughts as to Jay and the red flags there.
Most notably, Sugarbush's co-owner comments about how the EB-5 program worked there and his thoughts as to Jay and the red flags there.
steamboat1
New member
From the article: From ski resorts to lawn equipment, another beneficiary of $12 million in EB-5 money is Vergennes-based Country Home Products. Company CEO Joe Perrotto says during the recession they needed the money for research and development to expand their line of yard care equipment and hang onto their workforce.
"We fit under, at that time, what was called the troubled company program. So we didn't have the burden of job creation as much as job retention," he said.
Not only did they preserve all of the 135 jobs in Vergennes, but they've been able to add 10 jobs there, and grow it into the business it is today.
Sugarbush also fell under "the troubled company program" when they took $20m in EB-5 money so they didn't need to show job creation. They only needed to show job retention. They claim to have preserved/retained 400 full time jobs.
BenedictGomez
Well-known member
A completely made up financial metric, that never existed prior to ARRA (American Recovery & Reinvestment Act of 2009), a.k.a. Obama's economic stimulus, and which facilitates boondoggles. Economists mock and laugh at it.
I have good inside knowledge of this, the boondoggle and misappropriation of almost $1 TRILLION in money from all of our paycheck's in the name of "stimulus" should be considered one of the great scandals of the last 100 years. It's too much of a hot potato now because it's political, but 30 or 50 years from now, it will widely be considered one of the biggest failures and wastes of money in US history. If I have grandkids, someday when the subject comes up I'll proudly tell them I refused to play a part in its' implementation.
Harvey
Well-known member
fify
I am pretty sure that Sugarbush's position was that if they did not get the EB-5 money that they would have to close. No joke. I will let you all be the judge of that claim.
Its disturbing how you use every thread and issue to further your own political views. I dont know whether you are trying to convince yourself or others, but imho, it would be nice if you kept it to yourself.
I can tell you this, when I started skiing there regularly about 15 years ago, the place was a ghost town. there was no one there even on holidays it wasnt crowded. the facilities were in shambles, the ski school and rentals were in a temporary structure and the resort had almost nothing in terms of real estate either to rent out or sell.
I'm not sure that's sure that's true with respect to sugarbush.
Prior to the eb5 program many of the seasonal employees were kids from south america whereas afterwards, everyone is local. It was my understanding that they were statisfying the job creation requirements of the program.
Newpylong
Well-known member
I was wondering whether I logged into the Drudge Report by mistake.
fbrissette
Well-known member
It's a safe bet that the subject won't come up with your grand-kids unless you bring it up, in which case they won't listen to you anyway, because they won't give a damn.
True, but my understanding was that SB was using the "job retention" aspect of the program. And I have nothing against what they did at SB. It looks like THAT was a win-win for everyone.
MEtoVTSkier
Active member
Wow, tough crowd in here today...
I agree, SB ended in right in the middle of the of the solid success category... neither minimal nor overwhelming, but good and solid right down the middle with them still improving more as time passes.
Oh, and I thought I had read somewhere too that they used the "job retention" metric... but I don't recollect where I had seen that.
