[MMike]

http://seattletimes.nwsource.com/html/sports/2010845385_apolywhistlerskiresortassetsseized.html

Wow....whodathunk!!

 

[DirtMcGirk]

"Each qualified bidder must be a financial institution or other entity that has the financial wherewithal to purchase the membership interests in immediately available funds on the closing date," the public auction notice said.

So, time for a Ride Monkey bake sale?

 

[drkenan]

Holy crap - I'm already planning my August trip. Somebody better grab that b1tch NOW.

Oh...and Da Peach better be ready for my triumphant return.

 

[stevew]

whistler isn't the only resort up on the block....

The sale includes more than a dozen resort properties including Mont Tremblant in Quebec, Steamboat and Winter Park in Colorado and Squaw Valley in California.

 

[DirtMcGirk]

Nancy Cushing ran Squallywood into the ground well before Intrawest got their greedy little hands on it. **** that place, and Nancy. That place, and its $1900 season passes had this coming a long time ago.

 

[TheTruth]

Awwww, steamboat is a great place to ride who ever rides there knows.

 

[mammothpunks]

Nancy Cushing ran Squallywood into the ground well before Intrawest got their greedy little hands on it. **** that place, and Nancy. That place, and its $1900 season passes had this coming a long time ago.

I paid $360 for my squaw pass this year. Cant ski on saturdays in january and february, but no one wants to deal with the gapers on those days anyway.

 

[CBJ]

As I understand a big part of Intrawest is real estate which has been pretty crappy lately so I am sure its what have brought the company down.

 

[Da Peach]

Holy crap - I'm already planning my August trip. Somebody better grab that b1tch NOW.

Oh...and Da Peach better be ready for my triumphant return.

Yeah, I oughtta be back into "A-line hero" shape by then. Friggin' shoulder...

 

[MMike]

What's also somewhat interesting (to me), one of our (sort of) competitors is owned by Intrawest. They are a helicopter operator (heli-skiing, heli-tourism, long line work etc...). If they are for sale too, I wonder what the impact of that would be......

 

[SkaredShtles]

The Great Implosion.

This should make things interesting...

 

[Da Peach]

They're talking about having to fly snow from Whistler down to Cypress for the Olympics. On the news this morning they were saying that having to fly in more than 80% of the snow isn't practical, so they might have to move the snowboarding and freestyle up to Whistler if it doesn't start snowing at Cypress.

Quick! Design a snow shovel/bucket for helicopters!

 

[CRoss]

As I understand a big part of Intrawest is real estate which has been pretty crappy lately so I am sure its what have brought the company down.

Intrawest is owned by larger company called Fortress. Fortress bought Intrawest on 100% loaned money. This past December Fortress could not make the loan payment(500+ million) so the lenders have seized Intrawest from Fortress.

Fortress had no idea what they were doing when they bought Intrawest, otherwise they would not have used 100% loaned money and paid more per share then what Intrawest was currently worth.

 

[SkaredShtles]

Intrawest is owned by larger company called Fortress. Fortress bought Intrawest on 100% loaned money. This past December Fortress could not make the loan payment(500+ million) so the lenders have seized Intrawest from Fortress.

Don't forget they've (the creditors) apparently have arranged an auction right in the middle of the Olympics to sell off Fortress/Intrawest's assets.

 

[CRoss]

I wonder if they are selling the lease to Winter Park or does Denver take over?

 

[SkaredShtles]

I wonder if they are selling the lease to Winter Park or does Denver take over?

It's all going to be VERY interesting...