Alta Goes Backwards

According to this post on First Tracks Online, Alta is getting rid of their terrain park.

Old Farmer’s Almanac Predicts Snowy Winter

Abe Weatherwise, the predictor of weather for the Old Farmer’s Almanac says that the winter of 2006-2007 is expected to be snowy and cold. Let’s hope he’s right!

Mad River Glen to sell Single Chairs

According to this article, Mad River Glen is poised to sell all of the existing 158 chairs in order to partially offset the cost of the single chair renovation. In addition to a planned auction (minimum bid of $1,000), they are sponsoring an essay contest and selling raffle tickets! What will they think of next?

Mad River Glen Losses Expand by 25%

According to a report published on September 8th, Mad River’s losses for the 2005-2006 season were estimated (in July) at $250,000. This exceeds the previous estimate of not more than $205,000 which was disclosed to the shareholders earlier in the season.

In addition, the report also reveals that Mad River Glen will need to expend approximately $25,000 in order to repay shareholders that have turned back their shares to the mountain. The share buy-back is scheduled for October 1st which is in the 2006-2007 fiscal year.

Burton to Purchase Mad River? — Update 6

Since the transaction was effectively blocked through the transfer of the single chairlift by Mad River Glen, we have restored the earlier postings on this website.

According to this page on the Mad River Glen website, we now know the following facts about the transaction that stopped the discussions:

- Mad River Glen committed to pay Preservation Trust of Vermont (PTVT) $59,000 to transfer ownership of the single chair to PTVT.
- Mad River Glen transferred the towers, lines, return station and chairs to PTVT as well as a 100 foot wide swath of land running under the existing lift’s footprint.
- PTVT will retain ownership of the single chair assets for 50 years.
- In addition to the $59,000, PTVT will be paid additional monies by MRG relative to fundraising goals for the single chair.
- Mad River Glen is prohibited from making “Patronage Rebates” during the term of the agreement to its shareholders.
- Mad River Glen is prohibited from making changes to its by-laws during the 50 year period that the agreement exists.

Wonder why they haven’t disclosed this information before?