He's at it again!

[Snowjob]

Most of you remember ASC and Les Otten. Not much has changed - grand plans but needs someone else's money.

https://www.bostonglobe.com/business/20 ... story.html

[hillbangin]

Most of you remember ASC and Les Otten. Not much has changed - grand plans but needs someone else's money.

https://www.bostonglobe.com/business/20 ... story.html

That EB thing is working out really well for Jay...........

This guy is a clown.

[Bubba]

Most of you remember ASC and Les Otten. Not much has changed - grand plans but needs someone else's money.

https://www.bostonglobe.com/business/20 ... story.html

That EB thing is working out really well for Jay...........

This guy is a clown.

It actually has worked out very well for Jay in terms of supporting their growth. For Quiros, not so much.

[yiddle on da fiddle]

Given the STELLAR history the EB5 has enjoyed?....OMFW......is this man...in Boston parlance....ratahdid?..guess he feels he still carries enough clout n swagger to muscle pretty much anything thru. Anyone remember 1999...2000..out in Steamboat...this BRILLIANT bumpah stickahs..."More 'Boat...less Otten "? YUP....they lovedhim THAT much. Douchabag

[machski]

Not for nothing, but the Balsams was a small, small ski area in its day. What LBO wants to do is very ambitious. So ambitious that not many people in America have that type of $$ just hanging around in their accounts/portfolios. So yes, he needs multiple funding sources. Banks, as a rule, consider ski resorts, especially basically brand new ones, as a risky investment. It remains to be seen if he can piece this together and make a go at it. I do know a few people who are already sold and put their refundable deposits down.

[Big Bob]

Mach, are you rerferring to people who have sold real estate at Sunday River and are looking to move to the Balsams? I thought the state had already approved the $28 million loan guarantee a few years back and they were looking for a fresh appraisal on the project before the closing. I too am interested in this project if it ever gets completed. Someone had told me they had skied there years ago and it was some of the best snow they had ever skied on in the east. Plus all of the lifts will be new!

[machski]

Mach, are you rerferring to people who have sold real estate at Sunday River and are looking to move to the Balsams? I thought the state had already approved the $28 million loan guarantee a few years back and they were looking for a fresh appraisal on the project before the closing. I too am interested in this project if it ever gets completed. Someone had told me they had skied there years ago and it was some of the best snow they had ever skied on in the east. Plus all of the lifts will be new!

Nope, friends of my wife who ski primarily in NH now but are attracted by the entire resort experience package the Balsams is proposing ( eyond just the skiing). They are super excited and put their deposit down last year. I hope it works out, only an hour up the road from SR (closer than SL even), so day trips from our condo would be a breeze. A lot of hurdles to making his vision into reality though. All the delays are emblematic of this.

[Seacoaster]

I looked at putting a deposit and decided against it. Yes, the natural snow in that are is quite consistent, I think it followers a similar path as the Jay cloud. However, the resort lacks accessibility and vertical.

[rogman]

I would not dismiss Les Otten too quickly. He had a lot of successes in New England skiing before his ultimate downfall. If there is anyone who can pull this off, it is him. Here's the problem: nationwide skier visits are flat at around 55 million/year, and around 12 million/year for the northeast, and have been for a long time. This resort is too remote to grow the sport, it will merely siphon off visitors from other areas. Same size pie, but 1% of it nationally, and 5% of it locally, will now go to the Balsams if they are successful. It is not a sustainable model.