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Stenger and Quiros Ousted from Management of Jay Peak and Burke

BenedictGomez

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In reality, you may even do the same with your own house. Sell your house to your kid for 10% over market value. Let him declare bankruptcy and go to jail for lying in the mortgage application. Now, the house is on the market for 60% of its value on a bank repo sale. Buy it back yourself. You've just made a handsome profit of ~50%

What a fantastic success story!
 

thetrailboss

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"While they waited for the promised septic, water and Act 250 permits, Meese and his partner outfitted the former airport café. They invested in equipment for a 50-seat eatery, installing a large oven, walk-in cooler and freezer."

Meese and his partner weren't very smart - if they were they would have waited until all the requirements were met before building out the 50-seat eatery. Don't blame the state for your lousy business plan.

It did seem presumptuous to sink that much money into a building that is not capable of holding their business.
 

BenedictGomez

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Developers Ariel Quiros and Bill Stenger, both of whom have been charged with fraud, had plans to bring commercial flights to the little airstrip and build a passenger terminal there.

I still cant get over this. LOL. Twenty years from now, if I hear this again, it will still make me chuckle that people believe this.
 

abc

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I still cant get over this. LOL. Twenty years from now, if I hear this again, it will still make me chuckle that people believe this.
Field of Dreams, build it and they will come!

Americans are by nature optimistic. We're a self-selected group of optimists. Our ancestors came here risking life and limb, with only a very vague outlook. But they believed it and here we are today, the greatest country in the world. It's in our genes.

It makes us gullible. But it also makes Bill Gate and Mark Zukerburg out of us too.
 

180

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Field of Dreams, build it and they will come!

Americans are by nature optimistic. We're a self-selected group of optimists. Our ancestors came here risking life and limb, with only a very vague outlook. But they believed it and here we are today, the greatest country in the world. It's in our genes.

It makes us gullible. But it also makes Bill Gate and Mark Zukerburg out of us too.

I like that attitude
 

dlague

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Jay Peak posted a link on FB to this news

June 16, 2016 (Jay, VT)- Jay Peak Resort recently completed a three-day inspection of its aerial tram. The resort, in cooperation with the state, flew in an aerial tramway specialist and worked with state inspectors to examine the tram and its operating systems. Inspectors conducted a successful load test designed to ensure that all of the conveyance’s electrical, hauling and braking systems can function normally under strenuous conditions. After passing the load test, resort personnel successfully completed and passed an evacuation drill. The team also inspected the tram’s towers and its bolting structures. All were found to be operating normally.
Engineers did find on the last day of the inspection a hairline crack to one of the components of one of the tram carriages. That part will be removed and replaced next week. After that work is complete, state officials will return for a final review.
“We’re happy the inspection process has gone so smoothly,” remarked Steve Wright, Jay Peak’s General Manager. “The resort has a long history of cooperation with the state’s lift inspectors and it’s their rigor and responsiveness that has allowed this process to move so efficiently."
The resort recently signed a $5 million contract with the Doppelmayr/Garaventa Group to conduct custom upgrades to the tram, but that work isn’t scheduled to begin until the spring of 2017 and is not required for operations this summer or for the coming winter.
Wright said Doppelmayr/Garaventa will begin work on the enhancements shortly as the improvements are all customized and will take approximately 12 months to complete. Installation of the upgrades will begin in the spring of 2017.
 

slatham

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That's a thing?

Yes, just like baseball has relievers that will come in to only face left handers - usually one and done. In this case a lift mechanic who works primarily if not exclusively on Trams. Rather different mechanics and engineering at the micro level than a chairlift.....
 
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