Vermont Auditor: Should the State Re-Evaluate Ski Area Leases?

[bdfreetuna]

Invasive species are a serious threat. Imagine if those money trees started spreading uncontrollably.

Oh it's been imagined.

http://www.johnnymarijuanaseed.com/legendof_jms.htm

 

[thetrailboss]

So here's an article from VT Digger that offers more detail as to some of the other concerns:

http://vtdigger.org/2015/01/20/ski-area-leases-state-land-badly-outdated-auditor-finds/

While I understand some of the concerns about liability insurance and other issues, the result is still the same in my mind: a contract is a contract. The State can't, in good faith, now cry about the deals being bad.

Someone mentioned Vermont Yankee. Though my memory on this issue is not what it used to be, the fact is that the State had a memorandum of understanding with VY over operations and other issues. A few years into it the political winds changed and the State reneged on some of the deal. What happened? Lawsuit city and VY eventually closing. While some activists are cheering, the State racked up millions in legal fees and now has lost more millions in taxes...err...revenue. A pyrrhic victory in my book.

 

[steamboat1]

It's funny that when New England has shortages of energy they get extra energy from the Three Mile Island plant here in NY. Three Mille Island is a nuclear power plant. There are cries here in NY to shut it down also.

Another thing that I find funny is the reason they shut VY down is because they're afraid of what may happen if radiation is leaked into the atmosphere. The funny part is even after VY is shut down that nuclear waste isn't going anywhere. It's going to be stored on site indefinately. There are no nuclear waste repository's in the U.S. The Yucca Mountain nuclear waste repository project was canceled by our present administration.

 

[thetrailboss]

It's funny that when New England has shortages of energy they get extra energy from the Three Mile Island plant here in NY. Three Mille Island is a nuclear power plant. There are cries here in NY to shut it down also.

Another thing that I find funny is the reason they shut VY down is because they're afraid of what may happen if radiation is leaked into the atmosphere. The funny part is even after VY is shut down that nuclear waste isn't going anywhere. It's going to be stored on site indefinately. There are no nuclear waste repository's in the U.S. The Yucca Mountain nuclear waste repository project was canceled by our present administration.

Exactly. The biggest irony is that Vermont will be stuck with all the costs and none of the gains of VY.

 

[Glenn]

VT is interesting for sure.

VY closing will have a really big impact on the local SoVT economy. The local area doesn't have the capacity to replace that number of well paying jobs. I'm sure the impact on businesses around the plant will be felt as well.

I'm sure rates will go up. I read a number of letters in the local papers up there about how renewables (solar and wind) will solve the power issue. I'm just wondering how this will work on a windless night.

It can be a little aggravating to look at your tax bill and realize you can't do a darn thing when it comes to voting as a second homeowner.

 

[BenedictGomez]

There are no nuclear waste repository's in the U.S. The Yucca Mountain nuclear waste repository project was canceled by our present administration.

Solely for political reasons; and not before tens-of-millions of dollars from American's paychecks were flushed down the toilet.

 

[BenedictGomez]

I read a number of letters in the local papers up there about how renewables (solar and wind) will solve the power issue. I'm just wondering how this will work on a windless night.

Yes, right after they exhaust their supply of unicorn tears and clean burning magical pixie dust!

 

[jimmywilson69]

but the same NIMBYs that don't want nuclear also make the permitting of wind and solar projects very difficult. So apparently they are okay living like cavemen...

 

[thetrailboss]

Yes, right after they exhaust their supply of unicorn tears and clean burning magical pixie dust!

You guys are thinking way too logically.....

 

[steamboat1]

You guys are thinking way too logically.....

That's because for the most part we don't live in VT. & aren't constantly bombarded with propagander from VT. public radio (VPR). By the way VPR is not supported by government. It's main supporter is the PEW organization.

 

[VTKilarney]

Here's is the auditor's report:
http://blackpearl.wcax.com/documents/SAOSkiResortLeaseReport.pdf

Keep in mind that in a very liberal state, Vermont's Auditor is a liberal's liberal. He was formerly the Research Director for the Peace and Justice Center in Burlington.

While I think there is a lot to be said for standardizing ski area leases, I'm having a very hard time understanding why resources were spent on this study given that one lease is up in 2037 and all of the others aren't up until the 2050's.

Of all of the business out there, ski areas are pretty darned good at plowing money back into capital improvements, which equates to jobs and increased tourism. I'd hate to be responsible for upsetting that apple cart.

 

[thetrailboss]

Here's is the auditor's report:
http://blackpearl.wcax.com/documents/SAOSkiResortLeaseReport.pdf

Keep in mind that in a very liberal state, Vermont's Auditor is a liberal's liberal. He was formerly the Research Director for the Peace and Justice Center in Burlington.

While I think there is a lot to be said for standardizing ski area leases, I'm having a very hard time understanding why resources were spent on this study given that one lease is up in 2037 and all of the others aren't up until the 2050's.

Of all of the business out there, ski areas are pretty darned good at plowing money back into capital improvements, which equates to jobs and increased tourism. I'd hate to be responsible for upsetting that apple cart.

The answer is simple: they want mo money


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[BenedictGomez]

Keep in mind that in a very liberal state, Vermont's Auditor is a liberal's liberal. He was formerly the Research Director for the Peace and Justice Center in Burlington.

While I think there is a lot to be said for standardizing ski area leases, I'm having a very hard time understanding why resources were spent on this study given that one lease is up in 2037 and all of the others aren't up until the 2050's.

If he's truly as liberal as you say, he's obviously after money. Don't think for a minute that just because these mountains all have legally binding contracts, that Vermont cant break them. No other entity could break such a set-in-stone binding contract, mind you, or they'd be sued for all they're worth, and quickly lose - but the government can do whatever it wants.

And if you dont believe that, just ask the folks who were legally secured creditors of Chysler, whose assets the Obama Administration gave to the Unions instead (who were unsecured creditors). Unprecedented. But that's what government can do since it's all-powerful.

 

[SIKSKIER]

I have the answer for Vt.All liberals....off with their heads.

 

[joshua segal]

I have the answer for Vt.All liberals....off with their heads.

I hope that is in a Lewis Carroll parody as opposed to ISIS/ISIL.

 

[SIKSKIER]

Ya,probably said in bad taste.

 

[bdfreetuna]

 

[MadMadWorld]

The governor is a Democrat.


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Democrat...socialist....I don't see much of a difference!

 

[thetrailboss]

I think they're going to have a hard time trying to rewrite these contracts.....


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[BenedictGomez]

I think they're going to have a hard time trying to rewrite these contracts.....

Legally it shouldn't be possible. But breaking the contracts must be what the State of Vermont is exploring.

Why else would the State Auditor investigate this in the first place given the next lease up doesn't come due for almost 18 years!

You're left with only two logical possibilities:

A) This is typical government inefficiency & a waste of money from Vermonter's paychecks
B) The State of Vermont is exploring the option of breaking those contracts and making millions

Frankly, if Vermont's State Auditor is a man of such high financial talents, he should "investigate" the nearly 1/2 BILLION DOLLARS that Jay Peak has received through EB-5 with thus far no hard financial auditing.