Saddleback aims to open

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Comments

  • marcski said:

    That being said, the odds that SB will ever operate again as a commercial ski area are very slim (IMO).
    Let's hope you're wrong, Joshua.  One thing to keep in mind is that the Berrys also own a condo or house or something like that at Saddleback.  If they sell off the ski area piece by piece, the value of their personal real estate investment greatly diminishes.  I'd like to think that when push comes to shove, they will be willing to accept less money and keep the area intact and viable, rather than liquidate it, sell off the pieces, and end up with a few more dollars in their pocket.  It will be interesting to see, for sure.  Hopefully they're not Republicans.  :)


    The value of a condo is peanuts compared to what the Berry's invested in the mountain. I'm not sure that would have any influence on their decision.
    Currently, the condo fees that are coming in are covering most of the carrying costs associated with holding on to the property.  The condo owners are in a bind: Among other things, if they stopped paying the fees, Rangeley is not picking up the plowing, the trash removal - probably even the water supply is in jeopardy. 
  • I missed this on NESI. With all the legal stuff against Majella
    here and in Australia, I don’t see them having much interest in, or being able to
    complete the sale and run Saddleback. Do the Berrys have the ability legally to
    drop the deal Majella?


    Prospective Saddleback Buyer Talked of Arranging Hostesses 'So We Don’t Have to Get the Bloody Brothel Licence'

    Prospective Saddleback Buyer Talked of Arranging Hostesses 'So
    We Don’t Have to Get the Bloody Brothel Licence'

    Majella is facing multiple lawsuits
    in Australia.

    Wednesday, May 2, 2018, NewEnglandSkiIndustry.com



    Saddleback Base Lodge, March 18, 2018



    Majella CEO Sebastian Monsour was planning to set up "private
    entertainment spaces" from Australia to the United States with special
    arrangements "so we don’t have to get the bloody brothel licence,"
    the Courier Mail reports.



    According to the Courier Mail, Monosour told employees, "You never tell
    the wives this."



    The Courier Mail also reports that La Trobe Financial won a $659,184.84 default
    judgment against Majella in March and that an entity named Hays successfully
    sued over an outstanding $34,569.15 invoice in February. Queensland Business
    Monthly reports that multiple individuals have not been paid wages from
    Majella.



    In addition, the Courier Mail reports a foreign Majella investor is suing
    Monsour and Majella in Queensland Supreme Court for "misleading and
    deceptive conduct" and that Monsour is claiming “privilege against
    self-incrimination."



    Background

    The latest saga dates back to July 2015, when the Berry family, owners of
    Saddleback, announced the Rangeley double was "at end of its useful
    life" and that operations would cease if the lift could not be replaced.
    The lift was not replaced and the ski area sat idle for the following two
    winters.



    On June 28, 2017, the Berry family announced Saddleback was being sold to the
    Majella Group
    . At that time, Majella announced the sale would be
    completed later in the summer and that a new fixed grip quad chairlift and
    T-Bar would be installed in 2017. At the time, Majella did not commit to
    operating in 2017-18.



    On September 18, 2017, Majella declared "dominoes have fallen into
    place" and that "physical work is starting" and that "the first step will be taking down the existing Rangeley
    lift
    ." As of mid December, the chairs remain on the Rangeley
    Double. However, chairs were removed from the other lifts and remain on the
    ground, now buried in snow. Saddleback's lifts have not passed state inspection
    since November 2014.



    Also on September 18, with regard to a 2017-18 reopening, Majella posted,
    "only thing that is going to hold up or delay this process is Mother
    Nature" and that Majella was "committed to opening in some capacity for the
    2017-18 ski season, assuming Mother Nature does not deliver an early winter
    with heavy snow."



    On November 9, Majella announced delays in the sale, while also
    adding uncertainty to a 2017-18 reopening by stating it "will not be a
    full opening, rather a limited operation that, if possible, will allow our
    Saddlebackers and their families to return and enjoy the mountain in some
    capacity."



    On November 21, NBC Portland reported it had "learned exclusively that the money isn’t there," adding "if the
    group doesn't come up with the money soon, the deal could fall apart
    entirely."



    In March 2018, NBC Portland released leaked audio in which Monsour stated
    "I have a very very very small amount of funds" and that
    "opening the mountain at Saddleback for the Saddleback Resort is not a
    primary concern for us."



    Saddleback did not operate during the winter of 2017-18.


  • edited May 15
    I already posted that on the last page of this discussion.
    - Sam
  • I already posted that on the last page of this discussion.

    Sorry, I checked p.5-6 before posting. It still took me x2 to see yours, no headline threw me.
  • the story is so bizarre I think a lot of us needed to read it twice  ;))

  • Why are the Berries still even talking to these people?
  • This whole bit about buying a ski area with no money and opening a brothel sounds like a potential plot for the next Adam Sandler film.  

  • This whole bit about buying a ski area with no money and opening a brothel sounds like a potential plot for the next Adam Sandler film.  
    Dum an dummer 911
  • This whole bit about buying a ski area with no money and opening a brothel sounds like a potential plot for the next Adam Sandler film.  
    What it shows is that either no due diligence was done on Majella, or if it was done, it was done incompetently.  If I had to guess, I'd say it's the former. 

    This all comes across that the Berrys telegraphed a position of desperation. 
  • edited May 17

    This whole bit about buying a ski area with no money and opening a brothel sounds like a potential plot for the next Adam Sandler film.  
    What it shows is that either no due diligence was done on Majella, or if it was done, it was done incompetently.  If I had to guess, I'd say it's the former. 

    This all comes across that the Berrys telegraphed a position of desperation. 
    The Berrys are running a Clown Show.
    This is from the Friday, October 20, 2017, NewEnglandSkiIndustry.com article on page 2 of this thread:

    The
    Majella Group has had no previous involvement in the ski industry.
    Majella's founder is Professor Frank Monsour, the son of Lebanese
    immigrants who became an accomplished Oral & Maxillofacial Surgeon
    in Australia. The CEO of Majella Group is Monsour's son, Sebastian
    Monsour. In 2012, the Sydney Morning Herald claimed
    Sebastian Monsour "gained unauthorised access to City Hall, lied about a
    football career and now has come to the attention of the FBI in the
    United States."

    Are you kidding me? Anybody with half a brain could see this was not happening. How about the next paragraph from the same article? If you live in Maine you would have had to be deaf and blind not to have noticed that Sebastian Monsour and Majella had no clue about real estate development and operations, let alone developing and operating a remote ski area in the middle of Nowhere, Maine.

    Since the
    acquisition, the City of Portland has twice placed tax liens on
    Majella's office building for failure to pay property taxes. In
    addition, multiple mortgages have subsequently been taken out on the
    property, including a $1.4 million mortgage with Camden National Bank
    around the time Majella reportedly placed a deposit on Saddleback.




  • edited May 17
    IMHO Saddleback is going to be permanently on NELSAP. I'm waiting for lifts and assets to be sold off. The fact that no other potential buyers have come along in three years is very telling.

    Ski Conditions Report: A detailed report describing the snow conditions on the mountain the day of your visit. Skiers should become familiar with the following snow surface descriptions: Ice: Packed Powder, Slush: Packed Powder, Frozen Granular: Packed Powder , Packed Powder - A thin covering of snow over bare earth.

  • sugarloaf said:

    IMHO Saddleback is going to be permanently on NELSAP. I'm waiting for lifts and assets to be sold off. The fact that no other potential buyers have come along in three years is very telling.

    SMF is there and has put in a bonafide offer.  The Berrys have pretty much stone-walled them.
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