Windham Mountain Going Private?

[Harvey]

Why is this so important to you? To make a dividing line? What do you gain from it?

You are good with numbers and could probably tell me in what percentile a $200,000 net worth puts you when compared to the rest of the world. I'm curious about it, so I'd gain an answer.

A quick google shows me an article that says if your net worth is a million, you are in the top 1% worldwide. No idea if the source is credible. I'd like to know the percentage for lower numbers that might be more relevant. Like $100 or 200k.

What net worth gets you into the top 20%?

I guess my point is, before we slam the rich, let's get realistic. It could be some people we don't actually think are assholes.

ETA: this article says that $500,000 puts you in the top 20% in the US. How does that rank worldwide?

The net worth it takes at every age to be richer than most people you know

The typical American household has a net worth of about $97,300. Here's the net worth it takes to be part of the top 20% of Americans at every age.

www.businessinsider.com

 

[Andy_ROC]

Can you explain this to me, or cite an example? Not sure what you are saying.

If Wyndham goes private then thousands of people that use it today are displaced. Leaving it only for the rich while the working class people are effectively kicked out. Or let's talk about western mountain towns where people spend millions on large swathes of land/homes that sit empty most the year. It's well documented and discussed on this website on how generations of working class families that make town life possible have been priced out. Teachers, public safety, road workers, shop owners, resort employees, utility workers etc - - - all the people that are required to make a town livable can no longer afford to live in the communities they serve.

Seems ruined to all those people.

Of a less benign nature;
Those that turned pick up trucks into $100K luxury fashion accessories, they've helped drive up the cost for those that actually need them to do work.

Burning Man used to be a cool event for the counter culture--- now billionaire's helicopter in with security teams and have exclusion zones.

Concuring Mount Everest used to be for the expert climber and adventurer with the skills to accomplish such a feat. Now $100K will get you a team that will help you every step of the way. Its become a trash heap.

Plenty more examples if you put your mind to it.

Yeah so excess consumption by the rich people displaces and leaves the majority with less, thus what I mean by ruining it.

 

[Harvey]

Anytime anyone creates anything good

This is a bit dramatic.

We've created some nice glades at Plattekill and — so far — it hasn't been swooped and ruined by the "financial economy."

PS What is the financial economy? Am i part of it because I have a 401k?

Who here VETS the companies they invest in? I don't. I invest in a TSM fund, so I own all the companies, good and bad. Not proud of it, it's just so much easier.

 

[Harvey]

If Wyndham goes private then thousands of people that use it today are displaced. Leaving it only for the rich while the working class people are effectively kicked out.

Do you blame the owners or the customers or both?

The bigger question is, how would you fix it?

I think skiing has become a sport for the monied because it has huge fixed costs, aka snowmaking, detachable lifts, and the rest of it.

 

[Andy_ROC]

..... Plattekill and — so far — it hasn't been swooped and ruined by the "financial economy."

Yet

 

[Ripitz]

top 20% in the US.

Harv! Pretty soon you’ll be with me in the 1% of 1% when you join the elite Midweek Skiers Club!

 

[Low Angle Life]

Yet

Private ownership via a single individual/family serves as a protection for Plattekill, not dissimilar from how Belle is protected by state ownership. We live with an economy run on debt and interest, that creates an implicit need for growth, in private ownership models like Plattekill that need for growth can be carefully navigated just as Laszlo has by not taking on institutional debt. This plays into the whole "whats the difference between Catskill Mountain" look at the two that are the most fucked up, they both are owned by or tied to institutional wealth.

 

[MC2]

You are good with numbers and could probably tell me in what percentile a $200,000 net worth puts you when compared to the rest of the world. I'm curious about it, so I'd gain an answer.

I don’t need to be “good with numbers”. I just need to type $200,000 into that link I put up 2 pages ago:

I guess my point is, before we slam the rich, let's get realistic. It could be some people we don't actually think are assholes.

I guess I don’t see anyone “slamming the rich” in this thread. If you think that the statement “Rich people buy things & ruin things that were once cool” is too mean to rich people, you should say that.

Also, for the thousandth time, nobody said: “every rich person is an asshole” so I don’t know why you are trying to say that someone said that.

 

[Harvey]

View attachment 21210

Is this US or World?

“Rich people buy things & ruin things that were once cool”

Mean? No idea. I'm saying it's seems overly simplistic.

I go back to my original question. How would you fix it?

 

[Andy_ROC]

Is this US or World?



Mean? No idea. I'm saying it's seems overly simplistic.

I go back to my original question. How would you fix it?

I see part of the problem is that real estate went from being something that was purchased to live on or to farm, and turned into something that is collected, invested, rented etc. Example there's people on the finger lakes that don't even live in the area/state that bought up properties, torn down what was there and built huge mansions so they can visit a couple times a year.

How do you solve it? Not sure, but I'd look into steep vacancy taxes but I'm not sure the data supports their effectiveness. So I really don't know.