wow
cool to see the hill from back in the day
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wow
cool to see the hill from back in the day
Shows the old Magic Mile alignment
Attachment 495685
Carried skis up MSH yesterday w/ the boy…we had some decent turns under beautiful skies. Rim/top has a lot of rock showing thru.
(holy fuk that’s a long walk carrying before skinning; snow starts above 5k — my 53yo body is kinda wrekt today. Reconsidering some life choices as I limp it off… :) )
Attachment 495857
Attachment 495855
Attachment 495856
He managed to inadvertently drop a rocky talkie somewhere, so if anyone finds one up there…
Probably too late in the season to have done this outing given the length of dry walking, but we had a good time nevertheless
Rad man! I hope to be doing the same, though when my boy is 19 I’ll be 60.
Powder Corp is selling Bachelor.
If only we could build a CoOp in time.
God help us, but I can only think of a few corporations who will be in a position to buy :(
Meet the new boss
Same as the old boss
Won't get fooled again
Probably. I wonder what it means for IKON in coming years?Quote:
Originally Posted by interloper
Probably. I wonder what it means for IKON in coming years?Quote:
Originally Posted by interloper
Powdr just sold Killington to local pass holders.
Powdr is keeping Copper though, so it’s not like they are only scaling down to smaller resorts.
So I wonder if getting Bachelor off the books is because it needs too much maintenance and equipment replacement that will tie up capital? There is also no real estate play here to motivate the other bigs of Vail and Alterra.
So who is the right buyer? MCP would be a wild one.
powdr corp culture and values. Buy it,over charge for everything, run it into the ground, and sell it.
@Schralph - Good points about capex needs and lack of real estate opportunities to cover up operating incompetence. Gonna put a damper on price.
Does MCP actually own any assets or do they run stuff for institutional investors?
@Interloper - we may have not yet plumbed the depths of shitty resort management.
Looking back, a lot of what has happened at Mt Brokenchair recently makes sense. My theory:
- the C-suite guys kept denying McCleod’s requests for capital improvements.
- shit started breaking
- C-suite fired McLeod and installed John Merriman. He was Vp-finance at Copper. Before that he was a high level finance guy at Time Warner Telecom. His last job there was selling the company.
- Merriman reports back. “You have a shitload of capex necessary - replace NWX & Summit, rehab OBX, renovate/expand Sunrise and West Village lodges, renovate PM lodge. Revenue growth is limited by housing in Bend. I think you should find a bigger sucker”.
- Powdr was already getting into the resort concession business. They have a lot of experience selling overpriced food to tourists.
- Powdr got an unsolicited offer to sell Killington which just completed. So they decided to pare way down to just the resorts with the best fundamentals, and redeploy the cash.
It was a couple of homeowners and passholders who also happened to be venture capitalists or investment bankers from BostonQuote:
Originally Posted by Hood26
Of course, but a handful of deep pockets who actually ski there isn’t so bad.Quote:
Originally Posted by TBS
Has the asking price been advertised yet?
Maybe Phil Knight would buy Mt.B?
Or Chuck Shepard?
On 9/7 I will once again be parking cars under his tutelage. Will check his temp for buying Mt B
Not a bad idea.Quote:
Originally Posted by TBS
Local Group is exploring options!
https://www.centraloregondaily.com/n...MDd6pxX3TQ&ai=
totally ready to welcome another independent back
Happy to talk to the ring leaders about some of our trials and tribulations if any of you guys know the players.
Yeah, a Bend substitute teacher (and ski instructor) and the owner of two cannabis dispos in the valley are sure to have the financial and management clout to get a deal of this size done…:rolleyes:
This sounds like the “community effort” to buy Mt B in 2001. Back when the price was $25 million. Sound and Fury, Signifying Nothing.
I'd kick in $37,000 and 5 tons of bacon to sweeten the pot
Are those the backgrounds of the ones leading the charge? Hopefully a priority will be to get some VERY SOLID business and finance experience on their side to help drive this forward.Quote:
Originally Posted by TBS
https://unofficialnetworks.com/2024/...ya3szkHzT4_YNw
A push for local ownership
Set up a Gofundme site and have at it. They can make a movie, "We Bought a Ski Resort." Can Matt Damon ski? What about Keanu Reeves?
A LinkedIn search for Chris Porter and Dan Cochrane gave me two guys in Bend with those backgrounds.Quote:
Originally Posted by puma
NFW a community deal is gonna get done.
@toadman, securities law prohibits use of GFM or other crowdfunding methods for raising debt or equity capital.
Whatever happens hope the mtn is better for you all. Had a fun time skiing w TBS and skinny ski guy a couple yrs ago!
Y'all come back now.Quote:
Originally Posted by byates1
Thinking about price Powdr wants for Mt B
Anybody know what Crystal sold for in 2018?
Seems like that would be the closest comparable - same vertical, less acreage, some real estate.
Vail paid $64 million for Stevens. 1100 acres, 2000' vert, no real estate, bigger local market
The price of the Crystal Mountain ski resort in Washington when it was sold to Alterra Mountain Company in 2018 was undisclosed.Quote:
Originally Posted by TBS
John Kircher purchased the resort in 2017 from Boyne Resorts for $40 million. Kircher was the resort's CEO and president for 20 years before buying it from a company co-founded by his father.
^^^Thanks
Reading further, Kircher traded shares of stock in Boyne for the assets of Crystal. This was all part of CNL Lifestyle Properties (owner of Boyne Resorts) liquidating their holding as part of becoming a REIT. In a lot of these large liquidations there are huge deals to be had on individual properties.
Given that Steven sold a year later at a 50% markup to Kircher’s purchase of Crystal, There had to be some big issues besides economics involved.
Will likely see Chuck and Matthew tomorrow and will lobby them to buy Mt B
Heard from a ski shop owner in the valley that Mr. Shepherd is possibly interested in Bachelor.Quote:
Originally Posted by TBS
Talked for a bit with Chuck yesterday.
Short answer - he’d be interested if the price were $30 million, but not at the $180 million price he’s been told Powdr is looking for.
He’s been contacted about possibly operating MtB for local buyer groups. In his mind there’s no way to generate a return on investment at that price. Also a more complicated operation than he and Matthew want to deal with.
I see there’s a Mt B pass holder party tomorrow night. No doubt Merriman and team will be peppered with questions they can’t/won’t answer.
Anybody going? Report back
First beer on the house. $5 beers there after. 5/7pm. That is all.
After just a few days of public crowdfunding, the group seeking to purchase Mt. Bachelor ski area from corporate ownership raised more than half its funding goal to cover administrative costs.
More on ^^^
https://www.bendbulletin.com/localst...DEQQTIzBGJNnvQQuote:
Calling itself Mt. Bachelor Community Inc. the local group launched a website and a GoFundMe page this week. Donations ranged from $10 to $1,000, all going toward a $35,000 goal to pay for legal fees, insurance and supplies.
IOW they've raised about $18k in three weeks. WOAH!!! Assuming they can get lenders to pony up half of the $200 million, at this rate they’ll have the equity portion raised in (reaches for calculator) - 1,389 years!
Powdr isn’t going to even open up their books unless a prospective buyer can first show they’ve got the financing to complete the deal.
And no fucking way $35000 will cover even a tiny portion of the legal fees needed to make this deal happen - even if the school teacher and the real estate appraiser have a couple of experienced M&A lawyers and a couple of experienced securities lawyers on tap who are willing to work for free.
If their plan is to remove half of Bend’s population and require the remaining residents to maintain day jobs, then I’m ready to pitch in.
Attachment 500539
Give me your money.
https://www.chronline.com/stories/tw...of-pig,362527?
Two West Linn men have been indicted for an alleged sexual assault of an animal.
Anders F. Martenson and William C. Duffy face two counts each of felony sexual assault of a pig and a third count of encouraging sexual assault of an animal.
The two men, both 23, are set to make their first appearance in Clackamas County Circuit Court on Oct. 10.
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The indictment alleges that in August 2022 the men caused the pig to touch the sex organs and mouth of a person.
Defense attorney Neil J. Evans is listed in court records as representing both men. He didn’t respond to a request for comment sent Wednesday.
Woke up to snow as I walked the dog this morning. Nice to see Ullr awaken from his slumber to drop us a reminder that winter is coming.
https://www.mtbachelor.com/the-mountain/webcams