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Saturday, January 30, 2010

INTRAWEST IS GOING BROKE AND CYPRESS HAS NO SNOW

There is nothing that we can do about the weather and it looks like the Cypress folks have it all figured out with their snow makers, wood and straw piles. But  Fortress Investment Group, the mother company of Intrawest which operates Whistler Blackcomb Ski Resorts is going bankrupt? Really? The way the government pitched the Winter Olympics to the Province made it sound like we could pave the streets with gold if we wanted too. Especially the ones in Whistler. It surprises me that this could happen.

2 comments:

Financial Student said...

I assume you're referring to the hotel owners that are going broke? If so, the story I read was a little misleading. The company is going broke due to over extending themselves and not paying back their debts and not communicating with the lenders. Has little to do with the Olympics as they own hotels all over North America.

If you're not talking about that, then sorry and ignore what I just wrote. Then elaborate :)

Unknown said...

I edited my post to clarify. You are absolutely right. I was embellishing the facts.