Facebook Twitter Instagram
    FeedTheHabit.com
    • Home
    • Gear Reviews
      • Mountain Biking
      • Road Biking
      • Bike Commuting
      • Trail Running
      • Skiing
      • Outdoors
      • Water Sports
      • Vehicles
    • News
    • Trip Reports
    • Videos
    FeedTheHabit.com
    News

    No More Private Powder for the Yellowstone Club?

    Jason MitchellBy Jason MitchellNovember 11, 20084 Comments2 Mins Read

    You may not be aware of the super-exclusive Yellowstone Club Ski and Golf Resort outside of Bozeman, Montana, but if you were and if you had shelled out the $250,000 membership initiation fee, $16,000 annual fee and had built a multi-million dollar vacation home there, you’d likely be aware of the fact that they just filed for bankruptcy protection. Ouch!

    So, while all the super-exclusive members of this club can still go to their posh homes around the 14,000 acre Yellowstone Club, they will not be riding up the resort’s five chairlifts anytime soon. In fact, with the credit market as tight as it is today, Credit Suisse may just decide to take ownership of the property and use it for executive retreats.

    The resort is a great idea if you’ve got the money, but it sounds like the whole idea went to their heads with rumors of extravagant spending, private yachts and jets. Sound like any other money-grubbing companies over the past few years? Yeah… deja vu.

    For more details on this train wreck, visit the Yahoo News story.

    Here’s the news release on the Yellowstone Club’s bankruptcy filing:

    Bozeman, Mont., Nov. 11, 2008—The Yellowstone Club filed for Chapter 11 bankruptcy protection yesterday, with a combined debt of $344 million and assets listed at $1.1 billion. The club is seeking court approval for a $4.5 million loan from Credit Suisse—to which it already owes $307 million—that would allow the resort to remain open and operate this winter, and asked for an expedited hearing for that purpose.

    Over the past year, the club missed loan payments to Credit Suisse and has been trying to get construction back on track. In September, it contracted with Discovery Land Co. of Scottsdale, Ariz., to manage the club and build out the residential community, infrastructure and amenities. The club has blamed the economic and real estate downturns and tight credit markets for its squeeze. Critics have cited runaway spending on luxury jets, yachts, and foreign estates.

    ShareTweet
    Previous ArticleSalomon XT Wings Trail Running Shoes Review
    Next Article Julbo Run Photochromatic Sunglasses Review
    Jason Mitchell
    • Website
    • Twitter

    A native of the Pacific Northwest, Jason quickly developed a love for the outdoors and a thing for mountains. That infatuation continues as he founded this site in 1999 -- sharing his love of road biking, mountain biking, trail running and skiing. That passion is channeled into every article or gear review he writes. Utah's Wasatch Mountains are his playground.

    You Might Also Like

    Fresh Wheels: Pivot Mach 4 SL Gets Both Racier & Rowdier

    May 24, 2023

    Join Zwift “Ride Like King 15” Rides May 19-21

    May 17, 2023

    Fresh New Bikes from Cervelo, Pinarello and Vitus

    May 12, 2023

    4 Comments

    1. broke on November 12, 2008 1:08 am

      you all think this is funny for the millionaires loosing their money, but some of us are relaying on the yellowstone club to pay for our houses. real funny

      Reply
    2. Jason Mitchell on November 12, 2008 8:14 am

      I seriously doubt you actually have a place at the Yellowstone Club, but no I don’t think it’s funny, but a sad reality of what happens when greed and opulence goes to your head. The concept is awesome and if I had the dough, I’d love my own private resort and amazing vacation home.

      As we see time and time again, the people at the top think they are entitled to something, so they squander their supposed wealth on expensive toys and make poor investment decisions that end up hurting the innocent. In this case, the innocent happen to be the upper crust, which goes to show that everyone gets the shaft when bad apples are left in charge.

      Reply
    3. peppi on November 12, 2008 10:09 am

      follow the links to yahoo for more info

      Reply
    4. Seth Wallace on November 12, 2008 11:46 am

      This same thing happened at Promontory in Park City. As a project engineer it has put my job at risk and has caused much greater impacts on the Park City economy. The people it really hurts are the ones in the construction and service industry.

      Reply

    Leave A Reply Cancel Reply

    Most Popular
    8.9

    Zipp 303 S Carbon Wheelset Review

    November 4, 2021
    9.2

    SRAM Rival XPLR eTap AXS Groupset Review

    August 12, 2022

    Moosejaw Ice Fort 25 Quart Hard Cooler Review

    May 17, 2023

    Wahoo ELEMNT Rival Multisport GPS Watch Review

    March 9, 2022
    8.5

    Canyon Lux Trail CF 7 Review

    November 28, 2022

    SRAM Rival/GX AXS Mullet Gravel Kit Review

    September 17, 2021
    9.1

    Review: 2023 Trek Domane+ SLR 9 eBike

    December 5, 2022
    9.6

    Trek Domane SLR 9 AXS Gen 4 Review

    May 10, 2023
    9.1

    Bontrager Aeolus Pro 37 TLR Wheelset Review

    June 18, 2020

    Review: Hoka Challenger 7 Road/Trail Shoe

    May 15, 2023
    Follow Us
    • Facebook
    • Twitter
    • Instagram
    Advertisement
    Our Latest Posts
    • Review: Outdoor Vitals Tern Ultralight Merino Hoodie
    • Fresh Wheels: Pivot Mach 4 SL Gets Both Racier & Rowdier
    • Shimano S-Phyre Magnetic GR Sunglasses Review
    • Moosejaw Ice Fort 25 Quart Hard Cooler Review
    • Join Zwift “Ride Like King 15” Rides May 19-21
    • Review: Hoka Challenger 7 Road/Trail Shoe
    • Fresh New Bikes from Cervelo, Pinarello and Vitus
    • Trek Domane SLR 9 AXS Gen 4 Review
    • Pearl Izumi Attack Air Bib Shorts Review
    • Artilect Supermoon Bio Hoodie Review
    About Us
    About Us

    Since 1999, we have delivered in-depth gear reviews, articles and content. We feature a small staff of savvy, experienced writers who love to review outdoor gear.

    External links to Amazon, REI, Backcountry and other retailers include affiliate codes that give us a small commission on each sale.

    To contact us or learn more, go to our About Us page.

    © FeedTheHabit.com 1999 - 2023. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.