Mid-Atlantic Timberline, WV resort's future?

Discussion in 'General Resort Discussion' started by Dr. Bighair, Nov 9, 2018.

  1. Johnfmh

    Johnfmh Johnfmh Skier

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    I was up at Timberline over the weekend and have a few observations. First, despite the rainy weather, the Davis area seemed to be doing quite well. Lots of traffic and people came up for the Arts Festival on Saturday. Restaurants and shops in Davis teemed with people, both on Saturday when I arrived and Monday when I left. Even the valley seemed busy. People were actually lining up for gas at the filling station and some of the condos in my development were actually rented out despite Timberline being closed. Bottom line: there may be some light at the end of the tunnel once the resort’s legal issues are resolved. However, I do not see anything improving with the resort until we have new ownership. That continues to be the sticking point.
     
  2. Carolinacub

    Carolinacub Yes thats a Cubs hat I'm wearing Skier

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    anything new in the Timberline Saga ?
     
  3. jimmy

    jimmy Mixmaster Skier

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    John you get ten bonus points for the perfect literary reference.

    I hear the creditors meeting was postponed until July 3.
     
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  4. Johnfmh

    Johnfmh Johnfmh Skier

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    Would there be any motivation for the creditor group to try and negotiate with the owners before the meeting? Maybe to try and negotiate a sale before taking the nuclear option—i.e. conversion to chapter7
     
  5. Norsk

    Norsk Booting up Skier

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    I believe that the Timberline owners have asked the bankruptcy court to approve hiring an investment bank out of Philly to sell the resort (or raise capital, but I think we all know how unlikely that is under present ownership). Apparently this investment bank has experience selling other regionally significant resorts (Montage perhaps, which went through bankruptcy in the 2013 timeframe). Seems positive to me because the investment bank is unlikely to take on the project unless they believe they can get something done. Return on time and all that.
     
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  6. scottyb

    scottyb Getting on the lift Skier

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    Apparently Fred pretended to have a heart attack recently. Then drove himself to VA to a hospital cause he saying people in WV would kill him.

    Still trying to get out of their obligations. I am ill so people will not be mean to me.
     
  7. D.B.Cooper

    D.B.Cooper Booting up Skier

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  8. ChmxJoe74

    ChmxJoe74 Booting up Skier

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  9. Johnfmh

    Johnfmh Johnfmh Skier

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    Interesting. The resort is about the same size as Timberline, but I think that’s where the similarities end. There are no large resorts near Timberline like Killington or Okemo. The Mid-Atlantic also does not have nearly as much resort choice as New England. From DC, Timberline is one of just a handful of west of the Allegheny Front resorts within day-trip distance. Bostonians have many, many more choices. The Washington metro area has more people, more $, and far fewer choices. Consequently, I think the land value of the resort is probably worth a bit more, but not $12.5 million—Timberline’s fantasy price.

    PS I was in Idaho recently and went hiking at Bogus Basin. Had my scariest experience on a ski slope—a close encounter with a female mountain lion. Anyway, had a chance to talk to one of the mountain operations people at Bogus. It has a good thing going for sure. Simplot donated the land and the resort is run as a non-profit. The infrastructure there is great for what it is—they have three detachables and are installing a fourth this summer. Terrain looked awesome. Visited Brundage also and the nearby resort town of McCall—another awesome looking place. I need to visit Idaho in the winter. It”s more than famous potatoes.
     
    Last edited: Jun 19, 2019
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  10. jimmy

    jimmy Mixmaster Skier

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    @Johnfmh I don't see that big a difference. Timberline has been run as a non-profit for years. They just don't get the part about investing in infrastructure.

    I was doing one of those surveys about which states have you visited a few months back. I found it curious that I have visited every bordering state but have never been to Idaho. I agree about it being time to visit.
     
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  11. Living Proof

    Living Proof We All Have The Truth Skier

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    Jimmy,
    Just get to the Jackson Gathering this year, ski Targhee. Sort of a 2 for 1, new ski area, new state. Have a great summer, some day we will have to catch up.

    I've not commented in this thread, but, heart goes out to those who have lost a major ski area, including the local economy and those who work there.
     
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  12. scottyb

    scottyb Getting on the lift Skier

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    Did you make it out to Abay in May?
     
  13. jimmy

    jimmy Mixmaster Skier

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    Photographic evidence from @mdf . Skied freshies first day and the rest of the week was more like early March.

    jimmybeavers.jpeg
     
  14. Kayakkeith

    Kayakkeith At the base lodge Skier

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    From Timberlies page...

    Thx for sharing!

    *****

    "Homeowners:

    The immediate costs of criminal prosecution by the county for paid motel taxes, Canaan Valley PSD motions, as well as our costs for continuing the bankruptcy process in good standing have created a moment in which Timberline is now unable to continue the process in a way that benefits us all.
    We have approved a liquidation of all ski assets, both on and below ground.

    Unfortunately, The State has been unwilling to acknowledge that the owners provided infrastructure and created a utility which has supplied clean water without interruption since 1987. Presently, the Canaan Valley PSD is squatting on land owned by a debtor in possession, and using at its will groundwater resources without remuneration. At the same time, a utility which was wholly created by an owner of the resort has no information about the management, costs, and legal fees associated with the receiver. Furthermore, that attorney, employed by the receiver, has begun to bill the three debtors for his activities.

    For this reason, the owners of Timberline who are also the developers of the utility believe that the best course of action is to liqidate all ski assets in order to protect its investments. We had

    Thank you for your attention to this notice. The insistence by the Canaan Valley PSD and its and the county on its relentless and malicious criminal prosecution in order to gain both receivership and government forfeiture status, which has explicitly not been denied by the county prosecutor under advisement, has led us to this point.

    Fred Herz"
     
  15. Johnfmh

    Johnfmh Johnfmh Skier

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    @jimmy This was my first time in Idaho where I actually stopped to smell the roses and roses abound in the state. I need to make a winter trip. The only downside of the state is that it is two flights from WAS versus just one to SLC. Also, the natural snow record at Sun Valley, the closest big destination resort to BOI, has been lackluster compared to the SLC resorts.

    Back on topic, what the heck does this statement mean? Chapter 7 conversion? Clearly, the government’s (county, state, federal) strategy of putting maximum legal pressure on the owners seems to have prevailed.
     
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  16. Johnfmh

    Johnfmh Johnfmh Skier

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    The latest news is that the owners are threatening to timber the mountain to raise money for their legal expenses:



    Burning down the village to save it hardly makes any sense. This sounds like a ploy to me.
     
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  17. scottyb

    scottyb Getting on the lift Skier

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    Well for years they cut trees to pay delinquent taxes so....
     
  18. The Colonel

    The Colonel Booting up Skier

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    They apparently need money to hire good lawyers for owners to minimize chances for serious jail time for several of the owners. If they cannot sell the property for a profit, selling the trees would give them a source for cash. Not sure how this would happen play out in bankruptcy court or with the creditors.
     
  19. Johnfmh

    Johnfmh Johnfmh Skier

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    From what people are saying on Timber-lies Facebook, it probably won’t happen because of bankruptcy court rules, The US Trustee in consultation with creditors would have to approve such actions before they can go forward. I emailed a point of contact at Friends of Blackwater and they aren’t too concerned either at this point for the same reason.
     
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  20. jimmy

    jimmy Mixmaster Skier

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    Not much left but firewood now. I think he needed bail money.
     

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