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Canaan Timberline Joint Pass
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Updated yesterday
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one year ago

Did anyone see Timberline just announced this?

 

Any chance we can get a combined season pass?

 

Also implied they are installing some type of electronic ticket checking system….

one year ago

sohcrates wrote:

Did anyone see Timberline just announced this?

http://www.wvgazettemail.com/outdoors-recreation/20170620/canaan-valley-timberline-offering-joint-resort-lift-ticket

Interesting commentary about saving 350 jobs, having to be open at the same dates and the always questionable “revenue sharing” to be tracked by a bean counter.

one year ago

I think this is good news.

Reading the article, I think the offer will be a joint resort season pass?  But could it be for single day tickets?  What will this mean for current holders of a season pass to only one of the mtns?  In any event, I think this is a great development for visitors or regulars who want to maximize the nice synergy of two fine mtns in close proximity.  Curious how they will ensure both mtns open and operate on same dates, but go for it!

one year ago

Well, now Canaan announced the “deal” isn’t yet a “deal”.  Apparently Timberline jumped the gun.

one year ago

sohcrates wrote:

Well, now Canaan announced the “deal” isn’t yet a “deal”.  Apparently Timberline jumped the gun.

Classic Timberline. Nothing like being a little premature. Maybe an angle to put more pressure on CVR to go through with the deal?? 

http://www.wvgazettemail.com/outdoors-recreation/20170621/canaan-valley-official-says-timberline-partnership-not-a-done-deal

 

one month ago

Has anyone heard any more update on this topic?  

one month ago

Is that just so typical or what from da valley.  Well, I hope it does go through and that both places prosper.  Pray for a good winter.

one month ago

teleman wrote:

This is the latest TL news:

http://www.psc.state.wv.us/scripts/WebDocket/ViewDocument.cfm?CaseActivityID=495505&NotType=%27WebDocket%27

Thanks for the info.  So, Timberline is still in deep trouble financially.  Has there any recent news or actual movement of both (Canaan & Timberline) to be merged for snow lovers? 

one month ago

you know, since one is public and one is private that does not seem too likely, unless, creepy thought, timberline got the management rights to canaan valley ski area …. oh no….

one month ago

teleman wrote:

This is the latest TL news:

http://www.psc.state.wv.us/scripts/WebDocket/ViewDocument.cfm?CaseActivityID=495505&NotType=%27WebDocket%27

….that and the power company shut their power off several weeks ago for non-payment of bills. I drove by last weekend and the place has been abandoned, looks more like a junk yard than a four season resort. There are broken snowguns, busted groomers, and parking signs from ski season toppled over and strewn across the parking lot. 

one month ago

Power was shut off to most of the resort, however a few lights were on inside the hotel…or maybe they’re running on a generator. Oh, and the website continues to say the Timbers Pub opens everyday at 11am, plus the chairlift rides begin at 10am Saturdays and Sundays.

LOL.

I can assure you there is no Timbers Pub (lights out, furniture piled up on itself, etc), and no chairlift rides.

Forensic financial audit will commence shortly….

one month ago

piusthedrcarve wrote:

teleman wrote:

 (Canaan & Timberline) to be merged ……

The blind leading the blind?

one month ago

SCWVA wrote:

piusthedrcarve wrote:

teleman wrote:

 (Canaan & Timberline) to be merged ……

The blind leading the blind?

They both screwed the pooch last season

one month ago

I sent this onto some friends.  We’ll see what happens.  As a reference I have a fairly big network of friends in the hedge fund/investment world who are looking for deals like this.  Raising $10-15m isn’t a big deal if there’s some sort of return attached.

I think buying from the state would be relatively cheap.  It’s the working capital you’d need to restart operations.  

Back of the envelope is maybe $5m?  Possibly more if they upgrade a lift.  If I were a buyer the first thing I’d do is upgrade the lodge and upgrade the lifts and snow making.  Then advertise like crazy dates that it’d be open and stick to it.

They could probably spend $250-500k on Facebook advertising alone.  You could target everyone within a 3hr range who has an interest in skiing.  Then bombard them with ads and deals raising awareness.

5 days ago

bonefish wrote:

teleman wrote:

This is the latest TL news:

http://www.psc.state.wv.us/scripts/WebDocket/ViewDocument.cfm?CaseActivityID=495505&NotType=%27WebDocket%27

….that and the power company shut their power off several weeks ago for non-payment of bills. I drove by last weekend and the place has been abandoned, looks more like a junk yard than a four season resort. There are broken snowguns, busted groomers, and parking signs from ski season toppled over and strewn across the parking lot. 

 

Latest (6/19/2018) regarding Timberline Four Seasons Utility….

http://www.psc.state.wv.us/scripts/WebDocket/ViewDocument.cfm?CaseActivityID=497978&NotType=%27WebDocket%27

3 days ago

Interesting read.  Seems the ski resort is still taking out extra money according to the financial investigation.  I wonder at what point this becomes illegal?

The situation seems dire for the valley as a whole.  There is unreliable water and the unreliable water utility doesn’t always pay the sewer utility, which could imperil it.

I found it substantial that the engineering team made a recommendation!  When the engineers are so worried about the status of the infrastructure you know the situation is bad.

You can find the utility’s financial statements on the WV website.  Without their debt (which a BK could discharge) they could be profitable and maintain their lines.

3 days ago

Unbelievable how long the courts lets this drag on.  At the end of all of it, the public utility should end up taking this over. 

2 days ago

oddballstocks wrote:

 I wonder at what point this becomes illegal?

Exactly what I was wondering after reading! I am no lawyer, isn’t this a clear case for fraud and embezzlement? From that Document according to the PSC the Owners of Timberline have:

-          Failed to collect payment on water and sewer services provided to affiliates, in light of a Commission order to do so, with arrearages increasing to $168,078

-          Encumbered utility revenues and facilities to secure debt to the benefit of an affiliate, both historically and currently

-          Failed to collect the ordered repayment for improper affiliate transfers of cash, while increasing the amount transferred from Timberline Utilities to affiliate entities since January 2015 to $257,182

-          Participated in a distribution in excess of retained earnings to shareholders

2 days ago

I have a bit of experience in regulated industries, and I have to say that if half of what is alleged in the Commission filings is accurate, then in pretty much any other state, Timberline Utilities would already have been taken over by the regulators in some fashion.  This is “open and shut case” type of misconduct, in a regulated company environment.

 

2 days ago

It looks to me that this is a case of a busines that is so under capilized that it needs to rob Peter to pay Paul. They are either unable to generate enough revenue or are so overloaded with debt that they need to decide who to pay first. It would seem to me that Timberline will either become insolvent and enter into bankruptcy or they will need to sell the place.

2 days ago

Snow Smith they are already insolvent. They are making a list of creditors. Anyone who previously wanted to buy the place will probably wait for the liquidation sale at this point. 

yesterday
Anyone wanna rescue it a la Blue Knob? :D

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