Toggenburg Mountain Sold

[Emily]

While not the same as state owned and funded ski areas, let’s not forget that Senator Schumer was able to obtain close to $2 million in funds from the FDIC to keep Greek Peak afloat after the prior owners filed for bankruptcy.

 

[Campgottagopee]

Greek Peak afloat after the prior owners filed for bankruptcy.

Filed for BK, again.

Be nice if they didn't have to worry, like ORDA, about going broke, eh RJ?

 

[tirolski]

My guess:

The Adks and Cats are not the same.

For my own selfish reasons I like it the way it is in the Adks. Slow progress, old schoolish, no slopeside, pretty uncrowded really.

Daks got the blue line with a lot more boonies it it.
It’s old school all right and there aren’t many of em.

 

[tirolski]

There is accountability, it is just that the ORDA money losers are mostly the other venues. Maybe these other venues should be run by the Federal government since they actually serve so few people, but are important for national teams.

How about the US Olympic Committee and the planet's olympic committee kickin in some $ to those things?

They won’t even let Harvey post Olympic badminton videos when he wants to, so it seems like we’ll have to wait.

 

[Emily]

Filed for BK, again.

Be nice if they didn't have to worry, like ORDA, about going broke, eh RJ?

Enough with the whole RJ thing. A fellow blog member who I’ve skied with recognized my name and reached out to me a few days ago to explain the whole RJ confusion and how the two of you used to go head to head. I was also told that I shouldn’t have said anything disparaging about the Meier’s, as that is treading on sacred ground in your eyes. For that I apologize.

I don’t mind if you and I don’t always agree, but please stop with the RJ name calling nonsense. Unlike you, I registered with my first name.

 

[Tjf1967]

While not the same as state owned and funded ski areas, let’s not forget that Senator Schumer was able to obtain close to $2 million in funds from the FDIC to keep Greek Peak afloat after the prior owners filed for bankruptcy.

Between loan relief and an the insurance claims sounds like GP has gotten quite a few dollars for pennies. Any guess how much they were able to collect?

 

[Campgottagopee]

Between loan relief and an the insurance claims sounds like GP has gotten quite a few dollars for pennies. Any guess how much they were able to collect?

Some would like us to believe that's true when in fact it's the opposite. Schumer gave them a 2 million dollar loan, not loan forgiveness. I promise you whatever ins monies they got they spent 2 - 3 times that in rebuilding.

 

[Emily]

The $2 million in financing occurred as part of the bankruptcy filing while Greek Peak was operating under receivership. This was never repaid as part of the asset auction.

 

[Campgottagopee]

The $2 million in financing occurred as part of the bankruptcy filing while Greek Peak was operating under receivership. This was never repaid as part of the asset auction.

You are correct. My bad. Just another loan that the previous owners didn't pay back.

 

[Emily]

You are correct. My bad. Just another loan that the previous owners didn't pay back.

Why the negativity towards the prior owners? They kept the resort afloat for more than 50 years. They turned the place into a four seasons resort by adding the lake, hotel, and adventure center. As a result, their wedding business exploded into nearly 100 weddings a year.

You seem to really think highly of the current owners, but they couldn’t keep Toggenburg open for six years.