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Ragged- Auction March 1st

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Author Post
oldtimer
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Posted: Jan 31, 2007 - 7:35 PM GMT

Joshua pointed this out on another Ragged thread but I think it may deserve it's own. Interesting to put it on the block while still operating. I wonder if the mortgage holder is hoping for a big snowfall in late feb, groom it up and find a buyer?? Or perhaps they have just run out of patience.


http://www.pesco.com/servlet/SelectAuction.do?auctionId=1539

I am no lawyer, but I have to assume that a mortgage holder cannot host a sale without the owner's consent or a foreclosure? Or did I just miss that step.


shenty
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Posted: Jan 31, 2007 - 8:21 PM GMT

Or maybe the owners decided to auction it. In the Mass housing slump, some homeowners have resorted to auctions rather than take a low ball bid.

I hope some group buys the mountain and is willing to pour the capital it needs to turn it around and breathe some life into it.

__________
There's no waiting for friends on a powder day.
summitchallenger
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Posted: Jan 31, 2007 - 8:39 PM GMT

Wow. It has come to this.
zephyr
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Posted: Jan 31, 2007 - 9:58 PM GMT

Thats pretty crazy, guess i have to turn in my prepaid pass....

__________
ski whaleback. that is all.
weedywart
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Posted: Jan 31, 2007 - 11:22 PM GMT

Quote:
In the Mass housing slump,
There's no slump. Things have just gone back to a semblance of normalcy. After 9/11 real estate got a big shot in the arm by Greenspit and the treasury when the sent morgage rates down to near nothing.
Quote:
I hope some group buys the mountain and is willing to pour the capital it needs to turn it around and breathe some life into it.
What's wrong with the mountain? In my opinion it was a terrific tele ski 10 to 15 years ago but they decided to do too much with expansion plans for the fixed heel turkeys.

sboarder
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Posted: Feb 01, 2007 - 4:43 PM GMT

Some more info here

http://www.citizen.com/apps/pbcs.dll/article?AID=/20070201/CITIZEN_01/102010280&SearchID=73270838226060
shenty
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Posted: Feb 01, 2007 - 5:23 PM GMT

sboarder, I turned it into a link for you

Ragged Mountain in crisis

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There's no waiting for friends on a powder day.
bobd
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Posted: Feb 01, 2007 - 5:50 PM GMT

Interesting article in the newspaper...I imagine that the present owners could keep the mountain...maybe it will be even better, or is it possible that someone will get it for..say 5 million???? But would anyone do that?

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ski fast
elcamino57
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Posted: Feb 01, 2007 - 6:40 PM GMT

No ROI in the ski business! Unless you have deep pockets or maybe some slot machines, It is all about location and realestate to survive this volitale market, it is like the food business, you need lots of movement, aka bodies to make up for the expenses. Ragged is tucked away in a weird location. I drove up there in the fall of 05 and there is nothing around it for support. They need like a village like Stratton for a draw, but would that work? It will be a real shame if it closes for I have not been there yet and would like to try it someday.
Maybe they should do a cooperative like MRG. Just wait and see what happens. Goodluck.
DrJeff
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Posted: Feb 01, 2007 - 8:14 PM GMT

Maybe ASC will get in on the auction
kayaker
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Posted: Feb 02, 2007 - 12:33 AM GMT

The situations may be different, but Tenney's decision to shut down for the year while they get their act together looks better and better. At least all they have to cover are their fixed costs while Ragged has to cover both fixed and variable costs. They must be losing money with each chair that passes the bullwheel.

I skied Ragged both before and after they shutdown and I really like the place. The first glade I ever skied was their "Glade Trail" on the original mountain. The addition of Spear Mountain was a real plus. However, if you don't have the infrastructure (lifts that pass inspection, top to bottom snowmaking) you don't have anything.

Let's hope this place stays open.
LASTRRUN
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Posted: Feb 02, 2007 - 7:49 PM GMT

Ya know...Ragged really isnt such a great place AND you cant get there from here. Shut it down and let the moose play!

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lastrun
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Posted: Feb 03, 2007 - 1:04 AM GMT

Quote:
Ya know...Ragged really isnt such a great place AND you cant get there from here. Shut it down and let the moose play!


Sorry, but it is still about 2hr from Boston so the cant get there from here does not apply. I'm bitter about Ragged because I think they duped 300+ kids (ski east) and parents into season passes knowing they would make no effort on man made snow. The terrain is quite good for a midsized area, you just have amature owners that used the ski area to try and leverage their other interests.

joshua segal
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Posted: Feb 03, 2007 - 10:00 PM GMT

I was at Ragged today.

The 6-pack is running, and while they are counting it as 4 runs, it's one-way down from the top and it was a bit crowded. I had students taken out by out-of-control boarders in both classes that I taught today.

They finally have a supplimentary compressor on premises and were running guns all day on Newfound Ridge and are clearly planning to open more terrain.

They do not look like a place that is "throwing in the towel." That said, there are at least three credible rumors about Ragged's future, but the truth is: I do not believe any of the sources has true insider info.

Between now and March 1, (or sooner if settled quicker) I would guess that most of what we have heard is very much in the category of speculation.

__________
Joshua Segal
weedywart
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Posted: Feb 04, 2007 - 12:04 AM GMT

Quote:
I had students taken out by out-of-control boarders in both classes that I taught today.
That's terrible. Perhaps you shouldn't take students out on weekends.


bobbutts
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Posted: Feb 04, 2007 - 5:14 PM GMT
Edited: Feb 04, 2007 - 5:16 PM GMT

Quote:
That's terrible. Perhaps you shouldn't take students out on weekends.


I think the point is bc there is 1 trail serviced by a 6-pack
the problem isn't weekends, it's Ragged's lack of snowmaking.

The solution isn't skipping weekends, it's going to a resort that takes making snow seriously like everyone else in this region.
summitchallenger
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Posted: Feb 06, 2007 - 1:53 AM GMT

I guess that part of their troubles does have to do with the Six-Pack:

Quote:
The resort was sued in 2002 by the company that installed their "Six Pack Summit Express," touted as the only six-passenger, high-speed chairlift in New Hampshire. Leitner-Poma of America, Inc., which installed the chairlift for $1.8 million in 2001, claimed Ragged Mountain still owed the company more than $1 million in Sept. 2002.


This, and other details of their problems, can be found HERE
MissDaEast
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Posted: Feb 06, 2007 - 1:56 AM GMT

Quote:


This, and other details of their problems, can be found HERE


I can't get HERE from here.
summitchallenger
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Posted: Feb 06, 2007 - 2:30 AM GMT

Trying again...here is the whole link...cut and paste I guess.

http://www.concordmonitor.com/apps/pbcs.dll/article?AID=/20070205/REPOSITORY/702050305

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