On Thursday Bloomberg (via Buisiness Week) reported homeowners with $1 million plus mortgages are defaulting at about double the rate of other U.S. homeowners. In September payments on about 12% of mortgages over $1 million were 90 dyas or more late.
Over the past year we’ve seen many luxury ski resort developments based on a real [...]
In a previous post, There Goes the Neighborhood, I wondered about the future of the Yellowstone Club now that economic sanity is being valued even by people with enough money to live frivolously indefinitely. Has all the bad PR and gloating by critics and schadenfreudenistas permanently branded the YC as a new kind of toxic [...]
The Rossignol Group (Rossignol, Dynastar Look and Lange) announce plans to layoff 30% of its workforce (mostly in Europe) citing declining sales and excess inventory. They hope to return to profitability in two years. Their Dynastar brand alone, has 290,000 pairs of unsold skis! (Which they scrapped most of ????- What a waste!) Ski retailers [...]
