Eastern Ski Area Finance 101

EMSC

Well-known member
1) find a geographically far away lender so poor that the bank fails
2) Have the FDIC take over your $35M worth of loans
3) end up in such a situation, that no one will really pay much attention to if you are or are not performing on your loan for quite some time to come...

All of this of course refers to Greek Peak, my favorite Eastern destination (and I might even ski there in late 2012 too!). All the fun details at: http://www.pressconnects.com/articl...goes-under?odyssey=tab|topnews|text|FRONTPAGE

Supposedly GP was going to blow money on a new lift and ~$1.5M of snowmaking upgrades this coming summer too... Haven't heard yet if those plans are gone or not...
 
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