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March 2010

Industry Reports :: March 2010

SKI MARKET DISSOLVED... STOWE SOLD... CANADIAN SKI COUNCIL WEIGHS IN ON HELMETS... POWDER RIDGE DEAL FALLS THROUGH... OBITUARIES... PEOPLE... SUPPLIER NEWS... CORRECTION

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Ski market dissolved
After filing for bankruptcy protection, eastern retailer Ski Market was sold in auction on February 1 to a restructuring company that is liquidating the remaining assets by the end of March. The liquidation ends a 40-year retailing history in Massachusetts, Connecticut and Rhode Island. According to published reports, the liquidators, Gordon Brothers, will sell all inventory, furniture, and equipment, and will pay Ski Market a little over 75 percent of the cost value of the merchandise, an estimated $1.3 million. The funds will be used to pay off Ski Market’s primary lender, which is owed $2.55 million.


Stowe Sold
In late 2009, Chartis acquired Stowe Mountain Resort from the beleaguered insurance giant AIG. Chartis was formed in the summer of 2009 as a separate subsidiary of AIG that took over AIG’s property-casualty and general insurance business. For its part, AIG is spinning off many of its programs following the $182 billion in federal bailout money it received last year after nearly going under and announced last May that it would divest itself of certain properties, Stowe among them.


CAnadian Ski council weighs in on helmets
The Canadian Ski Council (CSC) released its policy on helmet usage at Canadian ski areas. It reads: “The Canadian Ski Council recommends wearing helmets for skiing and riding. Skiers and snowboarders are encouraged to educate themselves on the benefits and limitations of helmet usage. The primary safety consideration, and obligation under the Alpine Responsibility Code, is to ski and ride in a controlled and responsible manner.”

CSC research shows that helmet usage in Canada is increasing steadily, with over 50 percent of participants wearing helmets. Among youth, that number climbs to 90 percent.


Powder ridge deal falls through
Snow Time Inc., with partner CDF & Associates, pulled out of a deal to buy the former Powder Ridge ski area in Connecticut, citing high electric and tax costs. Powder Ridge closed its doors in 2006 and the 250-acre area was bought by the town of Middlefield for $2.55 million. The State had even sweetened the deal for potential buyers with a $540,000 grant for development, in the hopes of creating a year-round recreation destination.


Obituaries
Olympic bronze medalist Jimmie Heuga, a star of the 1964 Olympic Winter Games and one of the U.S. Ski Team's greatest ski racers, died in early February, on the eve of the Olympics in Vancouver and 46 years to the day after he won his medal. Heuga was 66.


People
The National Ski Areas Association has appointed John Fagan of Duane Morris as special counsel.

Two-time World Champion Lindsey Vonn was named Female Athlete of the Decade by NBC’s Universal Sports.

Greg Porcino is the new GM at the Hidden Valley Club, N.J.

At Sun Valley, Idaho, Brian Callahan is the new terrain park manager and Peter Columbo is its new terrain park builder.

Keystone, Colo., named Jeff Hill as the new director of mountain operations.

Intrawest promoted Patrice Malo to president and COO of Mont Tremblant Resort in Québec. Also at Intrawest, Whistler Blackcomb, B.C., welcomed new corporate chef Michael Crane.

Three new members will be inducted into the Canadian Ski Hall of Fame: Hans Niederhauser, Hugh Smythe and Jimmie Spencer.


Supplier News
Leisure Trends Group reorganized its management team: Charlie Cooper is now VP and GM of the company; Julia Day is now VP of sales and marketing; Bill Thomas became VP of information technology; and Jim Spring will continue as president, but also added chief creative officer to his list of duties.

Idaho Sewing for Sports, Inc. has signed a deal to become the authorized dealer for Sans Gear NZ’s Short StopZ. The system features Krush KushioNZ technology, an energy-absorbing snow­sports impact protection product. For more information, contact Pete Northcutt at (208) 983-0988 or idsewing@idsewing.com.

Prinoth is taking over direct distribution of its Alpine products in the Midwest, assuming responsibility that was previously handled by Track Inc. Prinoth will open its own facilities to manage Midwest sales, service and parts distribution, and incorporate this new site into its existing network of regional distribution centers. The transition will be complete by this spring.


Correction
In the January 2010 issue of SAM, we incorrectly referred to F. Scott Pierpont in our Industry Report section. Our apologies!