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Thread: PE’s role in ruining ski towns
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04-25-2024, 08:57 AM #1
PE’s role in ruining ski towns
As goes Montana…
I guess it’s not just ski towns, but all this makes me kind of glad I’m not young now. The way things were is not how they’re going to be.
[Letter from Big Sky] Slippery Slope - How private equity shapes a ski town
Bunion? Harry?
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04-25-2024, 09:34 AM #2
Same.
Get it while you can.dirtbag, not a dentist
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04-25-2024, 09:56 AM #3Registered User
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PE is ruining EVERYTHING. Ski towns are a sore point but it’s a huge problem when PE acquires a company, saddles it w debt while siphoning cash, then declaring bankruptcy and leaving a trail of unemployed people wondering what happened
Guillotine time
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04-25-2024, 10:04 AM #4
Alterra 60% PE owned
https://coloradosun.com/2024/04/24/c...-smith-skiers/
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04-25-2024, 10:07 AM #5
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04-25-2024, 10:27 AM #6
They are ruining healthcare, too.
Big Sky = puke
Yeah the skiing is great, but everything else about that place is nauseating.
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04-25-2024, 10:30 AM #7
This.
And it's not just PE, imo. It seems like many large corporations are being run no differently than PE firms. Cut costs, buyout competition or sell off sections, break unions, all that matters is endless growth and next quarters stock price. Companies like Boeing and GE have addressed problems with their product and workforce by doing stock buybacks. Stock buybacks used to be illegal. Nursing home neglect, planes that fall out of the sky, giant trucks with huge blindspots: This shit is killing people!
And don't even get me started on property investors.
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04-25-2024, 10:33 AM #8
That article has been out about a week. It is very well researched and pretty easy to follow and from my POV, damn accurate. (except that Lone Peak is NOT a long dormant volcano).
Buddy of mine is quoted in reference to Tim Blixeth, “very much a chode”.......I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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04-25-2024, 10:44 AM #9
Since many seasonal workers do not vote, Roundy wasn’t exactly surprised when he was trounced...
...private interests to gradually take hold of local democratic processes....Merde De Glace On the Freak When Ski
>>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<
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04-25-2024, 10:56 AM #10
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04-25-2024, 10:59 AM #11
The particular geography (geology?) of the Big Sky/Bozeman/Yellowstone area is also somewhat isolating. Not like the way Whitefish just kinda bleeds into Kalispell after a while. That may have something to do with it too. Big Sky is a cutout from Nation Forest in an offshoot from a long canyon that inconveniently separates it from Bozeman, so it's very much its own insular little place. It's hard for me to even think of it as a town. It seems like more of a ski resort with runaway development surrounded by mostly undeveloped mountains in designated Wilderness area. I know it's not far from Bozeman or West Yellowstone, but in many ways, it's a world away.
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04-25-2024, 10:59 AM #12
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04-25-2024, 11:02 AM #13
It's called the ring of fire for a reason.
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04-25-2024, 11:15 AM #14
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04-25-2024, 11:24 AM #15
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04-25-2024, 11:27 AM #16
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04-25-2024, 12:08 PM #17
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04-25-2024, 12:09 PM #18
Fortunately there are tons of podunk towns and podunk hills w surprisingly good skiing. PE can't ruin everything
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04-25-2024, 12:31 PM #19Registered User
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Yeah but unfortunately since the BIG money is buying up the most desirable areas now in certain smaller "podunk" places there is a newish phenomenon where one single ultra rich individual is buying up every piece of available land. And then also inserting themselves(or their people)into positions of power within local government to make regulations more friendly towards them. Enjoy everything now that you still can but don't go peaking behind the curtain or you might not like what you see..
Ok time to go fishing with the dogs and not think about such things.
Sent from my SM-S236DL using Tapatalk
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04-25-2024, 12:45 PM #20
I'll just go xc skiing on national forest. That can't take that
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04-25-2024, 12:50 PM #21
Was my 3rd year at Big Sky and the trail map did claim Lone Peak was the remains of an ancient Volcano. But we had hired this smart ass guy named Andy who had a real Geology degree. During a meet and greet he called the head of Marketing (now COO) out on that by informing him "Ummm Lone Peak is actually a Christmas Tree Lacolith" and went on to describe the erosion process that created what we now see. Taylor was polite and the next season there was no more mention of Volcano's.
I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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04-25-2024, 12:57 PM #22Merde De Glace On the Freak When Ski
>>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<
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04-25-2024, 12:59 PM #23
Yea, but now there is also this...
MBA grads are increasingly exploring entrepreneurship through acquisition (ETA). These aspiring entrepreneurs want to purchase small businesses and update various processes with basic technology to spur growth.
Looking to Sell Your Business? There's a New Class of MBAs Looking to Buy
For every newly minted MBA/CEO wannabe who "grew up in the county" and wants to settle in with a long term investment in a local business, I wonder, similar to the "promise" of private equity, how this phenom is actually going to play out?The past is a foreign country; they do things differently there.
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04-25-2024, 01:00 PM #24Merde De Glace On the Freak When Ski
>>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<
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04-25-2024, 01:01 PM #25
Years ago I thought about buying into Big Sky, but I'm glad I didn't because the place has a lot of issues. I'm happy to ski there 30-40 days a year as a tourist with a gold pass, which IMO isn't very expensive when you consider the value I get out of it ($2,187 including tax for next season, after cashing in my rewards). It's nice to ski a couple days a week and then GTFO.
Last edited by yeahman; 04-25-2024 at 01:33 PM.
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