"Q" Removed From Burke Mountain Brand | Receiver Finds $1 Million In Operational Savings @JayPeak

"Q" Removed From Burke Mountain Brand | Receiver Finds $1 Million In Operational Savings @JayPeak

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"Q" Removed From Burke Mountain Brand | Receiver Finds $1 Million In Operational Savings @JayPeak

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When Ariel Quiros acquired Burke Mountain in 2012, the accused Ponzi scheme operator added a “Q” to the resort’s now infamous brand. Turns out, the Q might just be the first thing to go.

Related: Jay Peak Inc. Busted By SEC As A Ponzi Scheme

According to Vtdigger.com, the newly appointed receiver Michael Goldberg as well as Leisure CEO Steve Olsen are ditching the Q in what many see as a symbolic move away from the ski area’s dark past. So far, resort employees have been tasked with removing the Q from all branded materials within the resort including signage, linens, and web materials.

And while the ski area has a long way to go before becoming free of its Ponzi past, Goldberg and Leisure CEO, Steve Olsen are finding operational savings left and right. So far, the two have located and apportioned $300,000 to keep Burke Mountain Resort running for the time being.

Operational savings at Jay Peak exceed $1,000,000!

According to Goldberg, those operational savings are the result of Quiros and Bill Stegner neglecting to efficiently manage day-to-day resort functions. Instead, the two were focused on acquiring investments to cover up their financial blunders.

One of those financial blunders includes leaving contractors unpaid and unhappy. As of now, Goldberg is moving towards a resolution that will properly compensate the contractors responsible for construction on the former Q Burke Hotel. However, when and how much the contractors will be paid remains unsure.

Find the entire VtDigger.com article here: SEC RECEIVER NOW IN FULL CONTROL OF BURKE

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