How long until the fire sale?

[loafman140]

How long is this racket going to go on until the berry's say enough is enough? Hoping it doesn't come to selling off lifts but, value is value.

Any guesses? 1-2 more years maybe?

[Glade Monkey]

Yurt is "open" but looking as tattered as the deal to buy the place

[Tightline]

I don't think a fire sale will happen. The owners are wealthy. They are trust fund kids at the core. They don't appreciate what is happening to the working man. If they did they would be finding ways to generate income at the mountain. There are ways to generate income to pay their debt service, but they don't need the $$. Where there is a will there is a way!

[Glade Monkey]

Sounds like the SB downpayment was $400K. Wonder if Mr. Li will be coming after that?

https://www.brisbanetimes.com.au/national/queensland/why-did-a-chinese-developer-give-campbell-newman-s-brother-in-law-5-million-20180706-p4zq00.html

[Andrew B.]

Sounds like the SB downpayment was $400K. Wonder if Mr. Li will be coming after that?

https://www.brisbanetimes.com.au/national/queensland/why-did-a-chinese-developer-give-campbell-newman-s-brother-in-law-5-million-20180706-p4zq00.html

If the Berry's did proper due diligence before accepting the money I would assume they have no issues.

[b632]

Hopefully the Berry’s don’t have any problems with the deposit issue but this much i know, when the lawsuits start EVERYBODY involved gets sued... innocent or not

[Andrew B.]

Hopefully the Berry’s don’t have any problems with the deposit issue but this much i know, when the lawsuits start EVERYBODY involved gets sued... innocent or not

true true

[SpillwayEast]

I agree that there wont be a fire sale. The owners are very wealthy and this is just an under performing asset in their portfolio............I have to imagine they have made a lot of money off their investments with the recent gains of the stock market. I dont have the answer but hopefully the resort can get back to full operating potential soon.

[Glade Monkey]

We know why Seb Sour isn't talking but how about something from these others who are at least located in our same hemisphere?
Jim Quimby will head up Mountain Operations.
Rangeley residents Greg Andrews and Perry Williams will complete the management team along with former Portland Fire Chief and current Majella CEO - Western Region, Fred LaMontagne. Mr LaMontagne will serve as the resort’s CEO and focus on longrange planning and strategic operations

[dickc49]

Does every one have their Mega Millions so whom ever wins can revive Saddleback?

[redrider]

Hey Jeremy, is it time yet?

[Glade Monkey]

Piling on...with a 2nd $5million fraud charge and their vacant hotel burned down
http://www.newenglandskiindustry.com/viewstory.php?storyid=714

[ottoclave2]

On a related note, it's kind of depressing that the only news items in the Maine section of newenglandskiindustry.com are ones about the Saddleback train wreck. Nothing about any positive developments at SL/SR/etc. minus the one about the Boyne purchase.