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Yellowstone Club files for Bankruptcy - owes $343 Million to creditors

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SkierX
Posts: 16253 - Karma: 538
http://ap.google.com/article/ALeqM5hHhxB87PnN_KTu7n9MRxVlE8eslwD94D2ID80

Insane.
Nov 12 2008 1:04PM
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cobra_commander
Posts: 16909 - Karma: 4,682
what the fuck, they spent to much money and now they want the tax payers to bail them out. Fuck that. suck on it you elitist fucks. you will just have to ski the same runs as the rest of us.

But if they don't get the money to open, that will be some damn good skiing right off Big Sky.
Nov 12 2008 1:13PM
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Tinga
Posts: 11349 - Karma: 2,333
"Over the next two years Tim Blixseth bought a chateau in France, a golf resort in Scotland, a villa in Mexico and an estate in the Caribbean."

damn i wish i had a chateau
Nov 12 2008 1:20PM
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Shpadoinkle
Posts: 10437 - Karma: 84
I am so over these fucking bailouts. NO MORE!
Nov 12 2008 1:24PM
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skiminnesota
Posts: 9093 - Karma: 429
where is the bailout for the people in america who have been responsibly with their money?


god dammit i want a bailout!
Nov 12 2008 1:29PM
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Korbit
Posts: 684 - Karma: 54
blixseth is such a fucking prick.
Nov 12 2008 1:33PM
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Aenigma
Posts: 11256 - Karma: 424
I really, really dislike having to live next to these people.  There isn't much that would make me happier than seeing all them financially ruined--save for seeing them do something with their money that benefits someone other than themselves...ahhh, but they "earned" their place in society.  I will bow down and feel sympathetic now.
Nov 12 2008 1:36PM
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SkierX
Posts: 16253 - Karma: 538
Let the club sink, let a public venture open up there instead, and let the bills actually be paid.

They defaulted on multi-million dollar loans back in 2005, yet were still buying new property and million dollar ventures.
Nov 12 2008 1:39PM
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bigkicker
Posts: 1270 - Karma: 87
I worked on the golf course there this summer and probably played almost 15 rounds of golf on the clock, it was so dope.  Yeah shit was shaky all summer up there, this wasn't really a big surprise.  Their clientele are so loaded, it's going to be interesting to see how this pans out.   
Nov 12 2008 2:57PM
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cobra_commander
Posts: 16909 - Karma: 4,682
the main problem is that by going chapter 11, they will protect themself from those creditors, so the working people who built those houses, and did work for them on credit won't get a dime while the rich stay rich.
Nov 12 2008 3:00PM
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Bagels
Posts: 1022 - Karma: 1,306

They wouldn't need a bailout, hence they're responsible?

Nov 12 2008 3:52PM
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triebby
Posts: 8670 - Karma: 2,189
Exactly, fuck bailouts. If you let the system work things out the it's supposed to, everything would take of itself. If you run your business and spend your money wisely, then you'll be fine. If you don't, then you deserve to get pwn3d.
Nov 12 2008 4:12PM
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wrenegade
Posts: 6631 - Karma: 41
Seize everything and sell it off. $343 million in debt and an estimated $778 million in assets? Fuck the club, those debts should be paid. Even a fire sale should be able to recoup the money.
Nov 12 2008 4:15PM
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SkierX
Posts: 16253 - Karma: 538
Absolutely agree.
Nov 12 2008 4:49PM
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skiminnesota
Posts: 9093 - Karma: 429
so i get to pay for bailouts of people that cant keep their financial states under control. whats fair about that, if they get a bailout, then i want a bailout too!!!!!!!! 

Nov 12 2008 5:12PM
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mtsteez03
Posts: 748 - Karma: 122
fuck the club, i  work up there and cant stand the people, i hope it closes and we can shred the fuck outa that place
Nov 12 2008 5:49PM
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freezed
Posts: 12973 - Karma: 500
agree
Nov 12 2008 5:54PM
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Shpadoinkle
Posts: 10437 - Karma: 84
Me too, Justin! I'm living in Keystone! I'm fucking poor!
Nov 12 2008 5:59PM
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ferrinski86
Posts: 774 - Karma: 10
yeah, i have no problem with letting that place fail. if you cannot run your company profitably than you do not deserve to run a business. especially since its only a 8 year old business/ resort.
Nov 12 2008 6:28PM
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