Intrawest's troubles threaten Olympics: report

Swede

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Wed Jan-20-10 01:07 PM
Original message

Intrawest's troubles threaten Olympics: report

Source: CBC

A fight between Wall Street financiers could push the Whistler Blackcomb ski resort into insolvency and threaten the Vancouver Olympics, a U.S. newspaper report suggests.

According to a story in Wednesday's New York Post, creditors who have loaned $1.4 billion US to the ski resort's owners, Intrawest ULC, are threatening to foreclose on the company and effectively seize control of the resort.

Among numerous ski resorts in Canada and the U.S., Intrawest owns the Whistler Blackcomb resort, which is set to host all the ski events at the Winter Olympic Games next month.

Read more: http://www.cbc.ca/money/story/2010/01/20/intrawest-whistler-olympics.html

This could be a disaster for the Vancouver Olympics.

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rd_kent

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Wed Jan-20-10 01:13 PM
Response to Original message

1. Wow!!!!!This could be bad, very bad!

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HeresyLives

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Wed Jan-20-10 01:13 PM
Response to Original message

2. I doubt the govt would allow that.

AFTER the Olympics maybe, but not before or during.

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WriteDown

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Wed Jan-20-10 01:22 PM
Response to Reply #2

4. So do you think the Canadian governent will just payoff the loans?

That should be interesting.

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HeresyLives

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Wed Jan-20-10 01:26 PM
Response to Reply #4

5. Maybe, or maybe they'll just use

a security version of a restraining order. :rofl:

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WriteDown

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Wed Jan-20-10 01:28 PM
Response to Reply #5

7. Seems like someone should pay....

or at least point me to the trough where there giving out this free money. :)

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HeresyLives

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Wed Jan-20-10 01:36 PM
Response to Reply #7

8. Nobody will give out free money./nt

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bergie321

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Wed Jan-20-10 01:20 PM
Response to Original message

3. I am sure

Foreclosing on the Olympics will help Wall Street's image...

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Downwinder

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Wed Jan-20-10 01:27 PM
Response to Original message

6. NBC might have a lot of time on their hands. n/t

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