Park City Ski Patrol Strike

[Andy_ROC]

Vail Resorts Faces Potential Securities Fraud Probe Following Park City, UT, Patrol Strike​

Vail Resorts Faces Potential Securities Fraud Probe Following Park City, UT, Patrol Strike - SnowBrains

One of the nation's oldest and most respected law firms has launched an investigation into Vail Resorts for potential securities fraud.

snowbrains.com

 

[Deez]

Downhill resort skiing is a complete luxury.
As prices continue to rise, people will get pushed out.
If the mega-corporations continue to consume and control .....and don't watch out they are going to kill the industry.

 

[Harvey]

Vail Resorts Faces Potential Securities Fraud Probe Following Park City, UT, Patrol Strike - SnowBrains

One of the nation's oldest and most respected law firms has launched an investigation into Vail Resorts for potential securities fraud.

snowbrains.com

I don't understand the securities fraud allegation.

If snowbrains explained it to me I missed it.

 

[MarzNC]

Downhill resort skiing is a complete luxury.
As prices continue to rise, people will get pushed out.
If the mega-corporations continue to consume and control .....and don't watch out they are going to kill the industry.

An irony of all the negative press when VR messes up is that more people are starting to learn about places they never heard of before. Not just in the USA either. People in other countries are seeing the headlines too. There are online ski forums in N. America and other continents that are probably getting far more traffic than a decade ago where people can learn about alternatives for lift-served skiing that aren't the well known destination resorts.

Boyne Resorts, Powdr, PGRI (Jay Peak, etc.), Mountain Capital Partners (southwest, Chili), are not likely to go public any time soon. Their business model for operating individual resorts is different than Vail Resorts. Alterra opted to do another round of private funding to put off going public for a while. Alterra doesn't have the same management structure and operating approach as VR either.

 

[Brownski]

I don't understand the securities fraud allegation.

If snowbrains explained it to me I missed it.

i dont think they did. They said a law firm was investigating- presumably to see if they can bring a class action lawsuit.

 

[olddogbmxer]

Thats why I will only ski at small privately family owned resorts like Platty.
I'm trying to hit all the NY resorts over the next 2 years like Harvey.
So far I have made it to
Platty(my home mountain)
Oak Mountain
Windham(pre current status)
Hunter(pre Vail etc)
Holiday Mountain
Swain
Snow Ridge
McCauley
Bobcat(closed)
Kissing Bridge
Scotch Valley (closed)
Also all the ORDA mountains.

Still have alot to go but I'm done with corporate!
I find that alot of the smaller mountains have some great terrain despite being vertically challenged.
and many are in lake effect snow areas. Don;t need long runs to enjoy skiing and I ain't getting any younger!

 

[Andy_ROC]

I don't understand the securities fraud allegation.

If snowbrains explained it to me I missed it.

I didn't quite get it either. But here's one that provides a bit more insight.

https://www.powder.com/news/vail-resorts-unlawful-practices-investigation

In the Seeking Alpha report, it was noted that in reassigning patrollers from other Vail-owned mountains such as Breckenridge, Keystone, and Crested Butte, Vail risked "damaging workplace morale and creating an unsafe environment for guests." At this news, Vail's stock price fell by $12.29 per share, or 6.56% on January 2.

The investigation, filed by the Pomerantz Firm, concerns whether or not Vail Resorts had engaged in securities fraud and/or other unlawful business practices.

 

[Andy_ROC]

Thats why I will only ski at small privately family owned resorts like Platty.
I'm trying to hit all the NY resorts over the next 2 years like Harvey.
So far I have made it to
Platty(my home mountain)
Oak Mountain
Windham(pre current status)
Hunter(pre Vail etc)
Holiday Mountain
Swain
Snow Ridge
McCauley
Bobcat(closed)
Kissing Bridge
Scotch Valley (closed)
Also all the ORDA mountains.

Still have alot to go but I'm done with corporate!
I find that alot of the smaller mountains have some great terrain despite being vertically challenged.
and many are in lake effect snow areas. Don;t need long runs to enjoy skiing and I ain't getting any younger!

Holiday Mountain and the new owner Mike Taylor was featured on the Storm Skiing Podcast in early December. Mike sounds like a guy who's business I'd want to support. I hope they do well.

 

[Brownski]

Mike sounds like a guy who's business I'd want to support. I hope they do well.

Can confirm

 

[x10003q]

Downhill resort skiing is a complete luxury.
As prices continue to rise, people will get pushed out.
If the mega-corporations continue to consume and control .....and don't watch out they are going to kill the industry.

I am not so sure that this will kill the industry. Having access to multiple ski areas on one $500-800 pass is pretty good stuff and is contributing to the slight growth in skier visits. Unfortunately, Vail is cheaping out on snowmaking at many of the 'less important' areas. This part of the equation is not good for the sport.

The main problem that both Vail and Alterra are facing is replacing/renewing a slew of old lifts in the near future. This is what has the ability to bury these two entities.