Posted on 11/11/2008 2:18:53 PM PST by NormsRevenge
BILLINGS, Mont. – Bankruptcy Court documents show Montana's exclusive Yellowstone Club resort for the ultra-rich owes more than $343 million to creditors ranging from banks to local contractors. The residential club, which includes a members-only ski hill on 13,400 acres in the Gallatin Mountains, filed for federal Chapter 11 bankruptcy protection on Monday, along with three related companies.
The move followed what critics described as a spending spree in recent years by the club's founders, Tim and Edra Blixseth, even as the luxury real estate market stagnated. That included the purchase of at least four foreign estates and fleets of luxury jets, boats and vehicles.
(Excerpt) Read more at signonsandiego.com ...
I wonder if AIG has been there?
They wanted to give something back?
What happened to MT, the same thing as in NH and NV? It’s almost a blue state now.
Wouldn't surprise me if the membership were 90% watermelons.
Like other Western states, Montana has been "discovered" by the wealthy liberals from ... well, whatever rock they presided over. Ted Turner is one of the largest land owners in Montana.
I remember reading an article a couple of years ago about this couple. If I remember right it was a rather fawning article that told oh how smart they were.
Took a drive around America a few years ago. Stayed in Kila Montana and explored Glacier National and a whole lot more from there.
Beautiful beyond belief.
Calif. has gotten too expensive and too much of a cesspool so lots of folks and businesses have gone to Montana, Wyoming, Idaho, Etc.
Property values go through the roof. And those crazy fleeing Californians bring what they are fleeing with them.
Craziness.
“The private golf and ski community, nestled in the Montana Rockies, boasts more than 300 members, including Bill Gates and Steve Burke of Comcast. Membership costs $300,000, not counting the $18,000 in annual dues or the millions of dollars it costs to buy a home there.”
They'd rather owe it to you then cheat you out of it.
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