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Stowe Mountain Resort up for sale

post #1 of 18
Thread Starter 

As said in the article in the Burlington Free Press, this is no surprise, but it does make a skier wonder who will buy it, and how will it reflect on the resort itself.

 

 

Quote:

AIG: Stowe Mountain Resort for sale

 BY DAN MCLEAN, FREE PRESS STAFF • MAY 13, 2009 

Stowe Mountain Resort, owned by AIG, is officially for sale. 
AIG spokesman Peter Tulupman confirmed the ailing insurance giant is selling the iconic Vermont resort during an interview with The Burlington Free Press this morning.

Tulupman declined to comment on how much American International Group Inc. — which is mostly owned by the U.S. government after a sequence of federal bailouts in the wake of Wall Street’s collapse last fall— is seeking for Stowe which includes the lavish Stowe Mountain Lodge and the mountain’s operations.

 AIG has received a surprising number of unsolicited bids from qualified buyers, Tulupman said. He declined to say who the potential buyers are or if any are from Vermont.

Stowe’s worth was estimated to be at least as much as Killington, which sold in 2007 for $85 million, Doug Nedde, co-owner of Bolton Valley resort, said last fall.......

 

See full story here 

 

 

 

 

post #2 of 18

Maybe a co-op?

post #3 of 18

 

Quote:
Originally Posted by Paul Jones View Post

Maybe a co-op?


Sure. I'll chip in $100.

post #4 of 18

Me too.  Now we need about 870,000 more to join

 

post #5 of 18

If I chip in £100, do I get extra privileges?

post #6 of 18

 

Quote:
Originally Posted by Wear The Fox Hat View Post

If I chip in £100, do I get extra privileges?

 

Maybe a gallon of maple syrup per year?

post #7 of 18

I'm interested.

What's the snow report for the next 10 years?

post #8 of 18

How about AIG transfer the title to the USA Federal gubbernmint in exchange for some of the money they owe us.  Make it a free public park with very cheap parking or some other plan to keep up maitanance and facilities.  Then it can be ours. 

 

 

Sorry WTFH, no fuzzy ferners allowed  Or should we just exclude Canadians?

post #9 of 18

 

Quote:
Originally Posted by crgildart View Post

How about AIG transfer the title to the USA Federal gubbernmint in exchange for some of the money they owe us.  Make it a free public park with very cheap parking or some other plan to keep up maitanance and facilities.  Then it can be ours. 

 

 

Sorry WTFH, no fuzzy ferners allowed  Or should we just exclude Canadians?



 

Well most of the ski area is already in a public park (Mt. Mansfield State Park) but of course nothing is free.

post #10 of 18

 

Quote:
Originally Posted by crgildart View Post

Or should we just exclude Canadians?


Don't do that, you'll put us ski instructors out of business.

post #11 of 18

 

 

Quote:
Originally Posted by epic View Post

 


Don't do that, you'll put us ski instructors out of business.

 

OK we'll let them in if they bring us good Canadian beer.

post #12 of 18

Oxymoron, eh?

post #13 of 18

In all seriousness, if Stowe were to go the co-op route, I'd be good for a couple of grand to be one of the "founders"

post #14 of 18

 

Quote:
Originally Posted by RootDKJ View Post

In all seriousness, if Stowe were to go the co-op route, I'd be good for a couple of grand to be one of the "founders"


Ditto, and I'm roughly 10 hours away...  I could decide to live closer, with proper motivation...
 

 

 

aaron

post #15 of 18

--


Edited by comprex - 6/8/2009 at 12:06 am GMT
post #16 of 18

So.... anyone polished their crystal ball lately? Mine says resort sale is imminent. Reason being we have known all along that as soon as the guvmint bought AIG, the resort would eventually be sold. IMHO - the announcement of the sale means something. Like they have offers, know how much they think the resort is worth and want to flush out other potential buyers.

post #17 of 18

GM AKA US and the UAW bought it as a fun place to have meetings and get together.    100M was the sale price...petty change drawer with the leftovers of the Billions we have already poured in.     

post #18 of 18

Chinese bought it as a test area for their new Hummers.  How do you say, "your door is ajar", in Mandarin?  Had to use US talent so they hired a lot of former Chrysler executives to run it.

 

The investment package was was secured by AIG.  They found a small group of Mexican investors to put up the cash, who said they had a lot of cash to invest.

 

The only real fear is that radical fundamentalist Canadians will come into Vermont on student visas and fill the lift towers with beer like they did @ Whistler/Blackcomb.

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