Exactly. Can't grab money from over here, so we just try and grab it from over there.
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Stenger and Quiros Ousted from Management of Jay Peak and Burke
- Thread starter thetrailboss
- Start date
Exactly. Can't grab money from over here, so we just try and grab it from over there.
I guess this is why I'm not a crook, but who could sleep at night after building this house of cards?
More incredible, who could steal 50M from the house of cards and think everything would be ok? How could you sleep a single night in that manhattan 2.5M apartment (or whatever it cost), knowing your whole lifestyle was based on fraud?
Incredible.
And even more upsetting, I mean, really upsetting....who could stand the thought of fucking up a great mountain? Jesus christ.
I mean, I really like the new Jay....I think they struck a good balance between maintaining an old school vibe, but keeping pace with the times, and providing the amenities that are simply needed to financially survive in the tough entertainment industry. But it was all bullshit. It was all a crock of lies, built on stolen money.
Well, OK, maybe I'm looking at this wrong - I guess I should be happy that at least the crooks used the stolen money to forge a good identity that some future non-crook owner can build on....
More incredible, who could steal 50M from the house of cards and think everything would be ok? How could you sleep a single night in that manhattan 2.5M apartment (or whatever it cost), knowing your whole lifestyle was based on fraud?
Incredible.
And even more upsetting, I mean, really upsetting....who could stand the thought of fucking up a great mountain? Jesus christ.
I mean, I really like the new Jay....I think they struck a good balance between maintaining an old school vibe, but keeping pace with the times, and providing the amenities that are simply needed to financially survive in the tough entertainment industry. But it was all bullshit. It was all a crock of lies, built on stolen money.
Well, OK, maybe I'm looking at this wrong - I guess I should be happy that at least the crooks used the stolen money to forge a good identity that some future non-crook owner can build on....
So, the other thing I noticed this year, first time I saw the stateside lodge - the thing is WAY cheaper that the tram side stuff....
I know it's billed as the budget hotel, the cheaper side of the mountain, but the bar and lobby and stuff.....way more spartan than the tram bars and restaurants. They totally cheaped out on the later project. I guess they knew they were running out of cash.
I know it's billed as the budget hotel, the cheaper side of the mountain, but the bar and lobby and stuff.....way more spartan than the tram bars and restaurants. They totally cheaped out on the later project. I guess they knew they were running out of cash.
BenedictGomez
Well-known member
Tells you how stupid they think the average Vermont resident is.
The most flabbergasting part of yesterday's press conference was when the women (missed her name and position due to crappy BFP buffering) said (Paraphrased), "Vermont is the safest EB-5 program in America because it has government oversight". AMAZING!!! The gall to even THINK to say this anymore, let alone yesterday.
I STILL remain in a complete state of wilder as to exactly WHAT the employees of Vermont's EB-5 Regional Board do?
It's obvious they were more active participants, lobbyists, and cheerleaders for EB-5 rather than a legitimate oversight board, and we know they didnt do the financial analysis that was a major part of their job. So what exactly is it that these employees do here? My suspicion which I believe is highly likely correct, is they're nothing more than overpaid government workers, making government salaries well in excess of what most hard-working Vermonters could ever dream of making, all for spending most of their day twiddling their thumbs, and filing an occasional EB-5 document.
$$$$$
I have confirmed this from talking to Jay employees.
All non essential employees are scheduled to take a five week furlough at the end of the season. This was in place before all this eb5 stuff erupted.
The Tram is in need of a 4 million dollar upgrade to its electrical systems. This has already been paid for and scheduled and should happen at the end of the fall before the season starts.
This was all in place weeks ago.
VTKilarney
Well-known member
Does this mean that the waterpark will shut down? My family's summer pass begins on May 1st. If so, at least it's a loss that is easily absorbed.
from_the_NEK
Active member
Web site announcement says no change in day to day operations for golf, water park, hotels etc....
VTKilarney
Well-known member
Excellent news for me and for Jay Peak. Thanks for posting that.
Don't use the waterpark so I don't know about that.
But I assume they would at least keep the Hotel Jay, Ice Rink & water park open.
VTKilarney
Well-known member
If they want to sell the property they are going to want it to appear to be as robust as possible. This could be a good sign.
xlr8r
Active member
- Joined
- Feb 7, 2009
- Messages
- 963
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So is this paid for by EB-5 as well. 4mil seems awfully high for just electrical work. Maybe Everything at Jay has a 100% markup.
VTKilarney
Well-known member
Could Mike's Electric be doing the work by any chance?
The work needed can only be done by the Tram manufacturer.
BenedictGomez
Well-known member
There's no way a sale is going to come quickly.
They haven't even got a handle on the financial mess, let alone commenting the legal mess.
VTKilarney
Well-known member
Good point. I got excited there for a minute.
But at least for Burke, where are they going to get any capital to run the place? The only source they are going to have is from EB-5 investor's money. I doubt those investors are going to want to run a money-losing ski area.
sull1102
Member
Maybe they simply won't find any cash to run it and blame everything on Q with a hope of forcing the new Jay owner to take Burke. Then again the State really wants that hotel under the same control as the mountain suggesting there's some kind of plan here. They must know Burke isn't a cash cow.
ss20
Well-known member
Stop. Re-read the highlighted portions. Go back and read thousands of posts on the "Big Burke Announcement" thread. Then you'll find the flawed logic in your "The State must know..." argument :smile:
