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Mike Bernstein states: >I'm not a lawyer, nor do I play one on TV, but my understanding of the >lifetime pass language is that they were to be honored by Sherburne Corp >and its successors for as long as they operated on State land. Not a lawyer, but work in the acquisitions department of a large corporation, right? And, as such, should be familiar with the contract issues in takeovers. And also have easy access to lawyers that know this parc backwards and forwards. In general, when you buy a company, you get the contractual obligations, good and bad. Of course, since the beginning of history, people have tried to creatively wiggle out of contracts. The current preferred method for this is bankruptcy court, highly favored by airlines and auto parts suppliers for breaking union contracts. It's not always an ethical choice, and it is a choice. GM took the low road and put Delphi into bankruptcy. Ford, chose not to do this with Visteon. Anyway, back to Killington. Since companies are always looking for ways to cheat the system, there are legal impediments that exist. For example, there are legal limits on the games companies play with contract employees. Basically, if your interaction with your contract employee is substantially the same as with regular employees, you have to pay his employee taxes. And Powdr seems to be having it both ways, dumping the employees and lifetime passes while still holding on to the ski area lease with the state of Vermont. I have know idea what this lease states, but it wouldn't surprise me if there were a provision that outright sale of the lease rights were prohibited. That's one potential negative outcome of this for Powdr, maybe dumping the lifetimers is legal, but the increased scrutiny could turn up other irregularities in the way they handled the lease or employees. Just my thoughts, Mig - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SkiVt-L is brought to you by the University of Vermont. To unsubscribe, visit http://list.uvm.edu/archives/skivt-l.html