Hermitage Cash Flow Shortage

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  • obienickobienick expert
    Posts: 1,102
    Brattleboro Reformer in an article from last week, says a tax sale is in the works for June
  • rickbolgerrickbolger expert
    Posts: 1,322
    DrJeff said:

    his arrogance/ego has to at some point, has to be squashed with reality!!!!!

    Unfortunately, not necessarily.  I get the feeling this guy doesn't play by the rules.  And sometimes karma doesn't play by its rules.  

  • jaytremjaytrem advanced
    Posts: 170
    Latest Deerfield Valley News article...

    http://dvalnews.com/view/full_story_obits/27561181/article-Club-s-woes-continue?instance=home_news_left
  • SullySully intermediate
    Posts: 31
    Big news in there is a couple paragraphs down. Barnes' attorney representing him and the club in the defamation lawsuit has asked the courts for the okay to no longer represent Jim. Is it possible that his personal financial picture is as bad as the clubs? That would not help the situation, but would explain a lot.
  • DrJeffDrJeff advanced
    Posts: 379
    Sully said:

    Big news in there is a couple paragraphs down. Barnes' attorney representing him and the club in the defamation lawsuit has asked the courts for the okay to no longer represent Jim. Is it possible that his personal financial picture is as bad as the clubs? That would not help the situation, but would explain a lot.

    Not sure if it's his financial situation or ego that is the issue.

    Apparently he's been spotted a few times in the last few weeks, when it's not actually snowing in the Valley, driving around in his Bentley convertible, with the top down....

    If the club goes full liquidation bankruptcy, I've heard a few members insinuate that he'll be facing basically a class action lawsuit from roughly 600 members for breach of contract, in addition to all the other lawsuits already in the works.....

  • rickbolgerrickbolger expert
    Posts: 1,322
    This guy sounds like a real peach.   One thing in his, uh, "defense"  -- maybe the convertible top is broken and he can't afford to fix it  :-??

  • mtsnow123mtsnow123 advanced
    Posts: 420
    I enjoyed looking up the people in the article who were suing and what they do for work. A townhome for >1 million, wowzir!
  • rickbolgerrickbolger expert
    Posts: 1,322
    Yep.  I can't speak for everybody here.  All I can say is when someone creates a real estate holding company for a vacation condo, well, that's just something I'm not very familiar with.  Now if you want to talk about the search filters on Air BnB...

  • SullySully intermediate
    Posts: 31
    The bit about the Rolls being out is pretty interesting actually. It's very early to be pulling antiques out for a drive and it's barely kinda sorta warm enough for the top down. UNLESS you are going to sell soon(the market for convertibles always goes up in May) and want to take advantage of every last hour...
  • newmannewman advanced
    Posts: 421
    Maybe he had the top down to smoke a nice cigar.
  • SullySully intermediate
    Posts: 31
    I'll attach it later, but there's an article in the Deerfield Valley News today stating Berkshire Bank wants to foreclose on Monday and get the club into the hands of a receiver who was involved with Yellowstone Club.
  • mtsnow123mtsnow123 advanced
    Posts: 420
    Just read the article. Really hard news to see. It really sums up all the financial problems that have recently come to light, including tax payments and even utility payments.
  • SullySully intermediate
    Posts: 31
    Can we change the title of this thread seeing as we are FAR beyond just cash flow shortages. This thing is starting to snowball fast.
  • lotsoskiinglotsoskiing expert
    edited April 20 Posts: 1,135
    Wow, $83k just in electric bills unpaid, and that is just the start. Sad.

    Very sad for the locals who are out jobs and/or owed contracted services payments. At least there are other games in town (unlike the folks in E Burke area) but still painful for them.
  • newmannewman advanced
    Posts: 421
    lotsoskiing said:

    Wow, $83k just in electric bills unpaid, and that is just the start. Sad.


    Very sad for the locals who are out jobs and/or owed contracted services payments. At least there are other games in town (unlike the folks in E Burke area) but still painful for them.
    Didnt something happen with Mt Snow not allowing Hermitage employees skiing privilege due to some ongoing between the two areas? I hope the management at Snow doesn't have a thing like don't hire anyone with Haystack on there resume. When Intrawest took over Vernon Valley Great Gorge, for years the management of Mountain Creek did not like anyone from Hidden Valley up the street. If that is going on there, finding work for the folks dumped at Haystack will be a bigger challenge.
  • mtsnow123mtsnow123 advanced
    Posts: 420
    I remember reading something here on SJ about Mount Snow allowing employees to work at both places at the same time. Could of remembered that incorrectly.
  • joshua_segaljoshua_segal expert
    Posts: 2,136
    mtsnow123 said:

    I remember reading something here on SJ about Mount Snow allowing employees to work at both places at the same time. Could of remembered that incorrectly.

    The missing word in your posting was NOT! Mount Snow would not hire bands (maybe others) who played/worked at the Hermitage.  Don't know if that was still the case.
  • DrJeffDrJeff advanced
    Posts: 379
    joshua_segal said:

    mtsnow123 said:

    I remember reading something here on SJ about Mount Snow allowing employees to work at both places at the same time. Could of remembered that incorrectly.

    The missing word in your posting was NOT! Mount Snow would not hire bands (maybe others) who played/worked at the Hermitage.  Don't know if that was still the case.
    Their policy at the time was simple. Employees could work for Mount Snow OR the Hermitage. Didn't matter what the job description was....
  • SullySully intermediate
    Posts: 31
    Hopefully with the place really going up in flames the unwritten policy changes at Mount Snow because it absolutely was viewed as being a traitor if you went to the Hermitage.
  • lotsoskiinglotsoskiing expert
    Posts: 1,135
    DrJeff said:

    joshua_segal said:

    mtsnow123 said:

    I remember reading something here on SJ about Mount Snow allowing employees to work at both places at the same time. Could of remembered that incorrectly.

    The missing word in your posting was NOT! Mount Snow would not hire bands (maybe others) who played/worked at the Hermitage.  Don't know if that was still the case.
    Their policy at the time was simple. Employees could work for Mount Snow OR the Hermitage. Didn't matter what the job description was....
    Wow, that sounds, well, illegal, unless they have them sign a non-competition agreement or the like. 
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