Obamanomics to the rescue? Ski areas say NYET!

By
Real Estate Agent with 1st Action Real Estate
11-20 obamanomics & ski areas
Obamanomics to the rescue?
The Associated Press
November 20, 2008, 1:08PM ET 

3 Colorado ski resorts bracing for layoffs

Ski resort workers at three Colorado mountains are bracing for layoffs as a Canadian resort operator says the poor economy will force job cuts.

Intrawest Corp. this week did not say exactly how many jobs will go at its three owned or operated Colorado resorts -- Copper Mountain, Steamboat Ski & Resort and Winter Park. But the Vancouver-based resort operator says the drop in business at its resorts is unlike anything it has experienced in recent years.

The company employs 22,000 workers during the peak winter season in Canada and the United States.

Intrawest also operates Canada's Whistler-Blackcomb ski resort, a major venue for the Vancouver 2010 Winter Olympic Games.

Awrighty then. I heard this report on the radio today and had to rush home and see if my old home town, Telluride, was among the towns feeling the pinch. But as the above quoted article points out, they've dodged the bullet for now although  The Telluride Daily Planet  reported last week that the resort will be raising the price of its daily lift tickets to $92 this season.

$92.00! For a day of skiing. Holy Mother of all that's Holy! And that doesn't even cover lunch at the lodge, a little apre' ski vino, breakfast, dinner, a place to sleep, airfare to get there - not to mention skis, boots, gloves, goggles, poles, fuzzy hat, latest trendy outfit, etc. That's just $92 to stand in line for 4 hours, ride lifts for another 2 hours and if you're lucky, get in an hours worth of quality board time. But that's not my point. 

Here's my point - who is traveling to Colorado (or anywhere for that matter) to pay these kind of prices for a day in the snow? 

Is it poor people? Ahhhhh, NO. 

Is it middle income working class people? Ahhhhh, not many. 

Is it rich people?* Yes indeedy it is, or at least it was. 

Sorry, what was that? Rich people? Rich people are feeling the effects of the ecomony? Rich people are concerned about the impact of Obama reducing capitol gains? Rich people are worried their investments are declining in value, home values are in the tank and stocks are in the swirly? 

It would appear so. 

So the rich are feeling the pinch and they're cutting back on that mid-winter ski trip to Colorado. 

Does that mean the rich are hurting? No, it just means they're watching where their discretionary income is spent and that doesn't include a trip to Steamboat this year. Or instead of going twice, they're only going once - whatever.

So who's getting hurt. 

Rich people? Naw, they're just cutting back, remember. 

Poor people and working class people? Ah, there's the rub. 

They're the ones getting laid off because the rich people aren't showing up in adequate numbers to support their jobs.  So now they'll go on unemployment (to share that wealth) and access the social services of Copper Mountain. Maybe they'll even lose their homes to foreclosure. Of course with visitors down, revenues are down, hotel guest taxes are down & meal receipts are down so there's less taxes coming in to the city coffers - yet they are faced with growing unemployment. Bad luck for the cities too I guess.  

WHY? Because the rich are getting pinched but the poor suffer for it. And Obama wants to pinch the rich even more. Yeah, that makes sense now. I can see how that would bail us out. I'm sure glad 52% of the electorate is mathematically challenged. Probably a lot of the working class people making ends meet working the ski lifts voted for Obama. As Bill Engvahl might say - Here's yer sign. 

Well, that's just my opinion. I could be wrong.  

* For the purposes of future revenue enhancement strategies central to Democratic Principles (I.E. taxes), Rich People are defined as those making in excess of $250,000, $200,000, $150,000, $72,500, $48,200 - ah hell, if you gotta job, you're rich. Send in your paycheck, sucka.

Remember, Don't wait to buy real estate - Buy real estate and wait.
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' Obamanomics to the rescue? Ski Areas Say NYET!'
THE OPINIONS IN THIS COMMENTARY ARE STRICTLY GENE WUNDERLICH's PERSONAL OPINION. WHILE ANY REASONABLE &/or RATIONAL PERSON SHOULD AGREE, THESE VIEWS MAY NOT REFLECT THOSE OF ACTIVERAIN, COLDWELL BANKER RESIDENTIAL BROKERAGE OR ANY  LOCAL, STATE OR MENTAL INSTITUTION.
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Show All Comments
Rainer
19,679
Beverly Bayer
BAYER APPRAISALS - Moreno Valley, CA

So you voted to get a tax cut - now you may lose your job, great.  The plan to punish success and reward failure - does not work in the long run.  Beverly

Nov 21, 2008 06:33 PM #1
Ambassador
1,903,555
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

* For the purposes of future revenue enhancement strategies central to Democratic Principles (I.E. taxes), Rich People are defined as those making in excess of $250,000, $200,000, $150,000, $72,500, $48,200 - ah hell, if you gotta job, you're rich. Send in your paycheck, sucka.

Gene- That got me going! It is amazing how people hate the rich, when that is what makes the jobs, that is who spends the money, rich are who give money to charity and the poor. If they feel the pinch then donations will also go down. What is it they don't get?

Nov 21, 2008 09:48 PM #2
Rainmaker
367,837
Kevin Robinson
Twin Falls, ID
High End Vacation Homes

Good post Gene. The class envy BS that has shoved down the throats of fools is coming to fruition.

Nov 22, 2008 08:48 AM #3
Rainmaker
563,876
Mike Saunders
Lanier Partners - Athens, GA

Gene - a good example of sh*t flows downhill trickle down economics, it works both in good times and bad.

Nov 22, 2008 09:04 AM #4
Rainmaker
86,992
Israel Barden
RE/MAX Big Bear Village - Big Bear Lake, CA

I am working very hard so I can pay the extra tax. It's too bad Bush screwed things up so bad. If he had done a halfway decent job, their is no way Obama would have gotten elected. I really wish McCain would have won in 2000. He would have handled this much better. I voted Libertarian, by the way.

Nov 22, 2008 10:49 AM #5
Rainmaker
563,876
Mike Saunders
Lanier Partners - Athens, GA

Israel - Bush had a lot of help, the majority of at least 535 people in congress.

Nov 22, 2008 11:08 AM #6
Rainmaker
225,023
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

Isreal - it's too bad you wasted your vote on Bob Barr although I gotta tell you in many ways the Libertarian platform makes more sense than anything out of the 2 major parties. They're kind of what the Republican Party used to be - less control, localized decision making, less taxes etc. I've liked them for 20+ years but they never seem to get organized enough to make any progress. When I lived in Arizona years ago a friend of mine was actually their Presidential Candidate one year. I've forgotten the year or his name but he really educated me on what the Libertarian party is about and I can certainly support much of it.

Mike - yes it does work in both good times and bad. Just because the rich get richer doesn't necessarily mean the poor get poorer.

N & K - I am amazed that people can't see how simple this economic reality is. You can't help the poor by destroying the rich, you can't boost wage earners while weakening wage payers and you don't strengthen the weak by weakening the strong. Anybody who can't understand that... is probably a Democrat.

Nov 22, 2008 12:08 PM #7
Rainmaker
563,876
Mike Saunders
Lanier Partners - Athens, GA

Gene - I may have not been clear, I mean it does work both ways, when those with more money spend more, those with less money get more and vice versa.

Nov 22, 2008 02:29 PM #8
Rainmaker
225,023
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

MIke - no argument here. and it's those with more money that create the jobs for those with less money, whether they do it directly through their own company or whether they do it through supporting the general economy - like the ski industry, the housing industry, the auto industry. When times are tough the people with money just dial it back a notch. The people with oless money have no place to dial back to. They're out of work, out of a house, out of a car - looking to Mr. Obama for his magic answer.

Nov 22, 2008 04:27 PM #9
Rainmaker
112,119
Eliese Pivarnik
Colorado Group Realty, LLC - Steamboat Springs, CO
GRI, RSPS, ABR Broker/Owner Colorado Group Realty

I live in Steamboat where the mountain opens in three days.  This is going to be a great year--No lift lines!  No problem getting reservations! 

As far as real estate, our prices are lower than they've been in years and the inventory is such that a buyer can find the perfect place and not just settle for what is available.

The best part for those that come to Steamboat or buy a place here?  They get to live the Colorado lifestyle and de-stress from all the @#$*&^$ going on in the rest of the world.

SteamboatHomeSales.com

Nov 23, 2008 09:16 AM #10
Rainmaker
225,023
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

I hope you guys have a great season. How's the snow? I know in Telluride the snow has been a little late again - last year they had to delay opening a week but once it started they had one of their highest snow years ever. It will be a great year to be a local - as you mentioned, no lift lines, no wait at restaurants. Not too good for the town but very convenient if you're a local wit a job, The market in Telluride hasn't suffered much price reduction but sales are way off. We used to come to Steamboat a lot when I was in college at CSU. Great mountain and nice little town.

Nov 23, 2008 01:31 PM #11
Rainer
73,665
Sabrina Kelley
ERA The Herman Group - Woodland Park, CO
Pikes Peak Region Realtor, Teller, Park and El Paso County Colorado

Check out the latest media results for Obama holding off on placing some constraints on the upper echelon's income.

Nov 24, 2008 01:35 AM #12
Rainmaker
225,023
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

It apparently sounded better on the campaign trail than it does in real life - as most of us already know. Well, it's not the first change in his platform and, by all impression, it will be far from the last. Change indeed. Wait till he gets the whole Clinton clan in there. Then we'll see what gets changed. In the meanwhile - I know Telluride is opening tomorrow right on schedule. I hope the rest of your ski areas have a terrific season and that there's enough 'rich' folks left to keep the rest of us in jobs.

Nov 26, 2008 07:55 PM #13
Rainmaker
86,992
Israel Barden
RE/MAX Big Bear Village - Big Bear Lake, CA

Our ski areas still are not open. The weather has not been condusive to snow making. It was an economic disaster for our town. Thanksgiving weekend is usually one of the busiest weekend's of the year up here. No snow = no tourists = no money for the town.

Dec 02, 2008 12:00 PM #14
Rainer
100,660
Cheri Smith
Prudential Gary Greene, Cypress TX - Cypress, TX
Realtor Prudential Gary Greene

Well, I hope things get better. You are right about the rich keeping the poor in jobs. What I thought was funny though was that they said on the news that the polls said there wouldn't be many travelers this Thanksgiving on the roads even though gas prices were down. Well, hate to burst their bubble but the roads between Houston and Shreveport were more backed up than any year I have ever seen them!! We waited 20 minutes to get on the freeway. It was 1/10th of a mile! We put the GPS on detour and went around finally. I've never seen traffic so bad in some of these areas. No one travelling....right! The media is a joke. They need to get their heads out of their rear ends and wake up to reality. I hope OBama can do the same, cause if he follows through on his original plan he will sink this ship.

Dec 02, 2008 01:05 PM #15
Rainmaker
225,023
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

I know last year Telluride couldn't open on Thanksgiving either due to lack of snow and not even cold enough to make it. However, they managed to open a week later and went on to have one of the highest snowfall winters they've had in 2 decades. Here's hoping it gets cold and starts snowing for you soon Israel. Winters like this tend to put a lot of shoestring marginal businesses out of biz and that's bad for everybody.

Dec 02, 2008 01:05 PM #16
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Rainmaker
225,023

Gene Wunderlich

Realtor & Legislative Liaison
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