Dick Bass Sells Majority Interest in Snowbird to Cummings

First post here, but have been lurking for a while. I've been at the 'Bird for three seasons and heard the rumor two weeks ago that Cummings was looking to buy Snowbird.

Snowbird just released this press statement on the deal: http://www.snowbird.com/partnership/

Salt Lake Trib on the deal: http://www.sltrib.com/sltrib/money/5793 ... p.html.csp

Snowbird said that Bass is still chair of the company and that Ian Cummings is a majority owner. They indicate (indirectly) that the new capital will be used for the summit lodge and a renovation of the Snowbird Center and Cliff Lodge.

They also say that Snowbird will be SEPARATE from POWDR; current management remain (for now).

Your thoughts? Good? Bad?

I'm taking a wait and see on this one. I hope that they do not shorten the season, cut services, or increase prices astronomically.
 
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