by The Editors on October 1, 2009
Intrawest, the company that operates nine resorts in North America, wants everyone to protect themselves by wearing helmets when they ride on their mountains, according to a press release sent out today.
Intrawest will recommend that all skiers and snowboarders visiting its resorts wear helmets and there will be mandatory helmet requirements for all children and youth(1) participants in Ski and Snowboard School Programs as well as all students participating in freestyle terrain park programs, regardless of their age.
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by The Editors on January 30, 2009
Fortress Investment Group LLC, the investment group that owns Whistler Blackcomb has had its stock slide 96 percent since it went public in February of 2007, according to a story on Bloomberg.com, and now things are looking even worse.
“The more I’ve learned about Fortress, the less comfortable I’ve become,” says Jackson Turner, who follows the company at New York-based Argus Research Co. “There’s just this drip, drip, drip of bad news.” He recommends selling the shares. Only one of nine Fortress analysts tracked by Bloomberg rates them a buy. . . . Fortress is a prime example of what happens when the secretive world of hedge funds collides with the public disclosure required of listed companies. Two years after its initial public offering, Fortress remains a tangled web of subsidiaries and partnerships that analyst Turner says is anything but transparent.
Good luck with the coming Winter Olympics, huh?
[Link: Bloomberg.com]
by The Editors on October 20, 2008
Fortress Investment Group, the private equity fund that purchased Intrawest in 2006 for $2.8 billion has reportedly approached potential and existing lenders about a refinancing of $1.4 billion of Intrawest’s senior debt according to a story in the Financial Times.
Fortress controls Intrawest via a $1.37bn equity stake. With Intrawest’s debt trading at less than 70 cents on the dollar, Fortress has approached potential and existing lenders to discuss a refinancing involving $1.4bn in senior debt. Fortress is putting in $100m of additional capital to preserve its equity’s value. . . . People familiar with Fortress, which operates hedge funds and private equity vehicles, say there is a low probability Intrawest will file for Chapter 11 bankruptcy protection.
Low probability? We guess that’s a good thing, right?
[Link: Financial Times]
Intrawest, the company that operates nine resorts in North America, wants everyone to protect themselves by wearing helmets when they ride on their mountains, according to a press release sent out today.
