Tamarack sees an opportunity. Thanksgiving is coming up. The temperatures seem right. So why not get some base on the runs? Can do with the snowmaking system at the resort.
Who is this new management? Credit Suisse bought much of the resort out of bankruptcy last March for $80 million (as opposed to its approximate $250 million loan). Hard to say whether the bank is still involved. The new management company starting up the snow machines and planning for Thanksgiving is reported to be part of
“new ownership and management” of the resort: a holding company called New TR Acquisition Company or “New TRAC,” to own the resort and its assets, with the exception of Village Plaza, Osprey Meadows Golf Course and the Arling Center.
More on this at The Boise Weekly.
Tamarack, it seems, is like all good things. Too much money is thrown at a project at its beginning. Much of it is lost or wasted. Bankruptcy ensues and a new group steps in to take the project to the next step in its evolution. There is a hard logic in this, and a good bit of optimism about what others had started. A bit of a wonder of “economics” and something more.
Bankruptcy laws keep the evolution of human energy and investment going. Good thing such laws have been and are continuing to develop. The laws are not just American. Other countries and cultures have such laws. They have been with us since time immemorial.
The genesis of such laws can be found in many cultures and religions. For example see some thoughts of the members of a law firm in South Carolina. Or, go to see the Islamic Finance Project at Harvard.