Moving mountains
The internal shakeups at Intrawest ULC may have reached their peak as B.C.’s resort heavyweight announced its third CEO in just over two years.Long-time CEO and founder Joe Houssian retired in November 2006, shortly after the company was bought by New York-based Fortress Investment Group LLC, a sale that took the company off the stock markets and gave it some deep pockets to draw from to acquire new resorts. more...
Aging gracefully
Intrawest ULC, the venerable Vancouver-based ski-hill operator that owns Whistler Blackcomb and nine other ski resorts around North America, discovered in 2005 that it was beginning to feel the passage of time.Having started out as a ski-resort real-estate developer, it had become a retailer of sports gear, a resort owner and manager, a housing developer and the operator of a luxury adventure travel agency. By 2006 it was a wide-ranging resort conglomerate employing 22,000 people. more...
Hungry predator funds are sizing up B.C.
Once upon a time, when gigantic lizards roamed the earth, evolution divided all creatures into vegetarians and meat eaters, prey and predator. The vegetarians ate plants and thrived; meat eaters ate the vegetarians and also thrived. Also once upon a time, but much more recently, the standard business process was to build a private business and when it reached a certain size, take it public on the stock market. If you performed well, your company thrived. more...
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