Phildozer
New member
My prediction:
"Stowe will have new owners within three months."
"Stowe will have new owners within three months."
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Stowe prediction
- Thread starter Phildozer
- Start date
Work for AIG? :lol:
drjeff
Well-known member
Who knows, maybe all 300 odd million of us 
snowmonster
New member
...as rumors swirl that AIG will seek more federal assistance...
hardline
New member
based on what? and who is willing to pony up the money right now. its not like the place isnt making money so its not going to be a fire sale.
billski
Active member
Kinda telling/sad that AIG already wants to change the terms of the bailout deal it previously agreed to.
Imagine if I tried to do that with my lender!
Imagine if I tried to do that with my lender!
snowmonster
New member
Then you and I would be in bakruptcy by now. But, you and I are not Too Big To Fail.
Warp Daddy
Active member
NO surprise there ! The D word which will NEVER be in our national discourse again is getting closer
billski
Active member
Lemme guess. Les Otten? :flag:
Phildozer
New member
billski
Active member
ahem. I see "stupider" things going on with bailout money today :roll: next shoe to drop is mismanagement. Naah, the Feds will make all the right choices. They probably don't even know who Otten is :???:
billski
Active member
AIG is generally transparent to the customers. Mount Mansfield Corp. actually operates the resort. Other than ticket pricing, MMC hasn't gotten in the way of the skiers/riders very much. They've improved many things such as lift capacity and always maintained top notch trail grooming. It's always been the most expensive resorts, but most skiers/riders have become accustomed to "getting what you pay for." I think the new SML will attract/divert the high end dollar from perhaps some of the local real estate owners, but that's not necessarily a bad thing. It's a careful relationship between the townies and MMC. They both know they need each other, though townies/stores/bars/restaurants need MMC more than the other way. So often times, while some townies complain about the SML expansion (see Stowe Reporter), most keep their mouths shut so as to not bite the hand that feeds them.
One local ski weather prognosticator who we are all familiar with, likes the mixing of various socio-economic levels of society, from SML to the groups that put 12 people into a 3BR condo or stay in motels in outlying areas.
drjeff
Well-known member
Listening to the CNBC channel on Sirius as I was driving home yesterday, lots of talk that AIG will announce the biggest quarterly loss in US corporate history this week. Something in the neighborhood of 60 BILLION last quarter, and that's factoring in the 150 odd BILLION of bailout cash they've already gotten
GrilledSteezeSandwich
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cool..as long as the mountain stays the same..I wonder if the new owners will continue to open at 730AM on weekends and Holidays...it's a nice touch..
I don't necessarily agree with this statement. The town of Stowe was a tourism destination long before skiing existed. As a former resident for several years, numerous people came to visit town in the winter who weren't skiers. Summer time was equally if not more busy than winter too and it's not like people were going there to ride the Alpine slide or Gondola. Stowe has always been an fantastic piece of skiing real estate, but the town is what has made it special and differentiated it over the years.
My perspective of MMC when I lived there is that they were pretty good to the locals. Provided you worked for a Stowe Chamber of Commerce business, you could get a season pass for a very reasonable price; in 2000-2001 it was $250 for the mid-week pass. The local ski bum race series on the mountain every Tuesday was a blast and the mountains race department always put a lot of work into it.
One of the big reasons for Stowe's resurgence has definitely been the leadership of Hank Lunde. The couple of times I met him, he was a genuinely nice guy and realized the importance of the town and the locals.
Many locals they I still speak with wished that the Village and golf course never was built up there. That's a Vermont mentality in general though; the people of the state are very resistant to change, most often because they're transplants from other parts of the country and get there hoping it will remain the same forever.
RISkier
Active member
Wouldn't surprise if Stowe was sold though the number of interested buyers may be dwindling with the current economic situation. A few months ago I heard a rumor that Hank Greenberg was trying to buy Stowe. The person from whom I heard the rumor works at Stowe. They also said they didn't think Greenberg would be able to pull it off.
Phildozer
New member
I'd heard that one too.
I'd put that rumor just above the Mogul Mogul buying the joint.
billski
Active member
I saw a quote from Hank in the Wall Street Journal. He chose his words very carefully. He indicated that he would be interested in participating in the purchase, if it ensures the survival of something he loves so much. Read another way, he'd be interested in going in as a shared partner on the investment.
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