Yellowstone Club files Chapter 11

[deadheadskier]

Oh, how the rich, high and mighty have fallen

http://news.yahoo.com/s/ap/20081111..._bankruptcy;_ylt=AnvlzafA.GvOZKPcBZJSPRJvzwcF

Does Greg Lemond really need another 39.5 million?

 

[MrMagic]

wow
thanks of the link

 

[GrilledSteezeSandwich]

Greg LeMond got screwed of an agreemen and Blyth is a real jackass.

 

[eastcoastpowderhound]

Oh, how the rich, high and mighty have fallen

http://news.yahoo.com/s/ap/20081111..._bankruptcy;_ylt=AnvlzafA.GvOZKPcBZJSPRJvzwcF

Does Greg Lemond really need another 39.5 million?

nope...but it sounds like the developer, Blixseth, was playing fast and loose with other people's $$$.

I hear its a good spot on a powder day...freshies every run.

poor rich folks, I hope the gvt will help bail out the yellowstone club

 

[GrilledSteezeSandwich]

A friend of mine in Montana helped build many of he homes at the Yellowsone club and he said the lack of environmental regulation is astounding..Blixseth was fined a large sum by the EPA(maybe a different agency) for polluting wetlands and alot of these huge homes are built on slopes so steep..land slides will take them right off of their foundations..

 

[deadheadskier]

..land slides will take them right off of their foundations..

like much of the coastline in California. I tell you, when they have land slides every few years out there and mansions come tumbling down, I don't feel sorry in the least....same with homes built right on the coast in hurricane zones. PLENTY of land to develop in this country and some areas just aren't meant for building on.

 

[hardline]

A friend of mine in Montana helped build many of he homes at the Yellowsone club and he said the lack of environmental regulation is astounding..Blixseth was fined a large sum by the EPA(maybe a different agency) for polluting wetlands and alot of these huge homes are built on slopes so steep..land slides will take them right off of their foundations..

i was following a thread on the yellowstone club on TGR and at one point LeMond actually chimed in. it seems there are a lot of people in the area pissed about the wholoe,thing. i get the feeling that Blyth really is a sleaaze ball.

 

[riverc0il]

According to that article, Yellowstone has more employees than members I don't begrudge wealthy people their riches... but I also don't feel bad when their exclusive private clubs go belly up. I am sure something will be done to ensure Yellowstone comes out of bankruptcy alive and well.

 

[deadheadskier]

The staff to member ratio doesn't surprise me in the least. Most 5 Star, Preferred Resort or Relais-et-Chateau caliber properties require a two to one staff to guest ratio. There are several resorts in the east that can make similar claims.

 

[mattchuck2]

I wonder how Warren Miller feels about this?

I can't say I have much sympathy for the wealthy landowners, though . . . didn't you need something like $5,000,000 net worth to be accepted in the "club"?

 

[thetrailboss]

Whoa. Trailboss Realty may be called to handle the re-sale of this fine property as well :wink:

 

[GrilledSteezeSandwich]

I wonder how Warren Miller feels about this?

I can't say I have much sympathy for the wealthy landowners, though . . . didn't you need something like $5,000,000 net worth to be accepted in the "club"?

I think it used to be a $3million net worth..plus a 6-figure initiation fee..5-figure annual dues..and the purchase of a homesite is required..The Yellowstone club is large by east coast standards and small by Rocky mountain standards..I remember it being about 2400 vert...From Liberty bowl up on Big Sky..the YC looks tiny because it's at a much lower elevation. When I lived in Montana, my old roommate was a liftee at the YC. He made $12 an hour and was also paid mileage..but he was subject to random drug testing. Apparently the few chutes off the top would stay untracked for days and there was fresh cord open to close.

One thing that's for sure is the Yellowstone club brought Billions..yes Billions of dollars into the Southwest Montana economy..all of these wealthy people need to be catered to and there were construction jobs galore paying top dollar. It will be interesting to see what happens with the Yellowstone Club..

 

[ccskier]

The staff to member ratio doesn't surprise me in the least. Most 5 Star, Preferred Resort or Relais-et-Chateau caliber properties require a two to one staff to guest ratio. There are several resorts in the east that can make similar claims.

I think Topnotch staffs close to 1000 people during peak seasons.

 

[GrilledSteezeSandwich]

I think Topnotch staffs close to 1000 people during peak seasons.

Dang..my buddy used to work in the Spa..nice place but for such an upscale place..they paid like $7 an hour

 

[jaywbigred]

Man, how the mighty have fallen. I remember (i think in college) when they announced this place was opening, all I could think was "well, there is something to shoot for".

I too do not bemoan people their money if they earned it in a legit way (and that includes inheriting it), i.e. legally/ w/o ripping people off ...and use it wisely. This, of course, includes philanthropic pursuits, as well as a willingness to spend (read, inject back into the economy) rather than just sitting on it/hordeing it.

I mean, if I had invented silent velcro (name that movie...), and became filthy rich, what would I do with the money? You can sure as heck bet I'd spend decent amounts in the pursuit of my passion for skiing, and the Yellowstone Club would def. have been in the running. They would have had to throw in a couple of seeded mogul runs, though, to get me to join...

 

[GrilledSteezeSandwich]

Man, how the mighty have fallen. I remember (i think in college) when they announced this place was opening, all I could think was "well, there is something to shoot for".

I too do not bemoan people their money if they earned it in a legit way (and that includes inheriting it), i.e. legally/ w/o ripping people off ...and use it wisely. This, of course, includes philanthropic pursuits, as well as a willingness to spend (read, inject back into the economy) rather than just sitting on it/hordeing it.

I mean, if I had invented silent velcro (name that movie...), and became filthy rich, what would I do with the money? You can sure as heck bet I'd spend decent amounts in the pursuit of my passion for skiing, and the Yellowstone Club would def. have been in the running. They would have had to throw in a couple of seeded mogul runs, though, to get me to join...

I totally agree with you except for the seeded mogul runs..it snows way to often in Montana and the Yellowstone club gets way to little traffic for good mogul runs..

 

[mattchuck2]

No way . . .

I can think of 4 other mountains in Montana that I'd rather spend my imaginary wealth at . . . Plus a bunch right over the Border in BC . . . Mmmm . . . Revelstoke . . .

 

[eastcoastpowderhound]

I totally agree with you except for the seeded mogul runs..it snows way to often in Montana and the Yellowstone club gets way to little traffic for good mogul runs..

they could hire the CLITS at $12/hr to form bumps for the membership.

 

[deadheadskier]

Dang..my buddy used to work in the Spa..nice place but for such an upscale place..they paid like $7 an hour

Depends on what you did. My gf in town at the time was a massage therapist there and got paid $32/hour in 2001.

I remember at the time thinking that she made in 20 hours what took me 40 hours to make managing a bar and momentarily thought about a career change, but that thought faded quick when I realized I'd have to be rubbing backs like yours :lol:

 

[Johnskiismore]

On the thought of having an extraordinary amount of money........ I think I'd buy Powder Mountain in Utah, and pay people to run it for me, and you'd all be invited!