ASC'S FOURTH-QUARTER REPORT SHOWS ALMOST $1.5 MILLION LOSS
STEAMBOAT SPRINGSAmerican Skiing Company, owner of the Steamboat ski Area for the time being, announced its fourth quarter results this week, a full three months after the end of the fourth fiscal quarter in July.
ASC says it is in final negotiations to sell the Steamboat Ski Area and still plans to close the transaction before the first of the year.
The company reported a net loss of $141.6 million in 2001 and took a $52 million write down in the fourth quarter as a result of its plan to sell Steamboat.
ASC had obtained a 17-day extension on the deadline for filing its fourth quarter report, saying that filing prior to the sale of Steamboat might cause it to report misleading numbers.
NEW WATER RATES DEVISED TO HIT HEAVY WATER USERS THE HARDEST
STEAMBOAT SPRINGSCity water rates will likely be going up the most for the consumers who use the most of it, City Council members asserted Tuesday. The council wanted to encourage people to conserve water.
If the City Council follows its consultant's advice, water rates in the city will likely go up before the end of the year in order to bring in 11.28 percent more revenue than they currently do. Sewer fees will probably stay at the same level as they are right now, but tap fees for both sewer and water hook-ups also could be raised.
STEAMBOAT SKI AREA PUSHES BACK OPENING DAY TO NOV. 30
STEAMBOAT SPRINGSFor the first time in two decades, officials of the Steamboat Ski Area have decided to postpone opening day of the ski season.
The reason was as clear as the cloudless skies over the Yampa Valley on Friday and the numerals on the temperature sign at a downtown bank: 65. As in 65 degrees.
Set to open on Nov. 21, the ski area now won't open before Friday, Nov. 30.
"Due to the extremely unusual weather pattern across Colorado, we have had to postpone opening day for the first time in twenty years," ski area President Chris Diamond said. "Our snowmaking crews are taking advantage of every opportunity to make snow and the weather forecast is favorable for the resort over the next month."
In past years, Steamboat has oaccasionally opened with minimal terrain and quickly expanded available ski runs and lifts as late November storms have swept into the valley. Last season, Steamboat opened four days early. But the double whammy of minimal snowfall and warm temperatures have made it extra tough on the ski area this November.