Taunya Fagan Bozeman Real Estate Blog: Montana Real Estate Blogs

Two financial entities are battling for control of Big Sky, Montana's Yellowstone Club, which boasts memberships by some of the world's wealthiest...

Both Credit Suisse and CrossHarbor Capital with financial help offered by some Club members, are battling for control of Edra Blixseth's bankrupt Big Sky, Montana Yellowstone Mountain Club:

Credit Suisse, failing in its attempt to setup a seven-figure loan plan, argues that because it's owed over $300M by the Club it should maintain control and is trying to block a financing deal from Boston-based CrossHarbor Capital, which has offered $20 million to maintain the club through the winter skiing and snowboarding season. Some Club members, siding with CrossHarbor Capital and Sam Byrne, showed up for the Tuesday, November 25th court proceedings, agreeing to inject an additional $5 million into Cross Harbor Capital's plan.

Credit Suisse, with substantially more owed it and carrying more weight into the court room as primary creditor, is in a parlous state because if the judge sides with CrossHarbor's plan, Credit Suisse will lose its primary creditor status, which means it wouldn't be paid first, if and when the Yellowstone Club is solvent again.

In a sort of "geometric strategy," Credit Suisse offered to continue financing the club into the first week of
December 2008, hoping it may be able to scrape up enough cash to gain control, possibly close, and sell the Yellowstone Club...

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Yellowstone Club Real Estate  - Yellowstone Club Homes

Ennis, Montana Building Lots - Two 20 Acre Parcels in Lonesome Dove Ranch, Ennis Montana

Bluff Lot - $225,000

Incredible Bluff lot with huge mtn views overlooking the Madison River and valley below. For all the hunters, fishermen, outdoor enthusiasts, horse lovers...you're going to love this place. Fishing access to the Madison River. Just a few short miles to Forest Service Access for all the desired hunting and riding. Only minutes to quaint Downtown Ennis, MT and the local airport. Beautiful location!

Also Available: Interior Lot - $115,000  

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Taunya Fagan Ennis Montana Real Estate     406.579.9683      Email Taunya Fagan

Taunya Fagan Bozeman Commercial Real Estate - Bozeman Commercial Property

The Yellowstone Club, filed for bankruptcy Monday, November 10, 2008 after its inability to secure financing arrangements with its creditors and bondholders.

Yellowstone Club spokesman, Bill Keegan said the Yellowstone Club filed Chapter 11 for protection in Montana federal bankruptcy court to protect the Club and its members.

Two months ago the Club, as it is called in the area, had announced it would begin new growth in conjunction with Arizona-based Discovery Land Company, but the recent national financial collapse forestalled this method.

Ensconced in Montana's Madison Range mountains, between the Gallatin and Madison Rivers, the gated, 13,400 acre Montana ski and golf resort opened in 1999, and holds memberships for former cycling great, Greg Lemond, Microsoft co-founder, Bill Gates, and former Vice President, Dan Quayle.

"We felt this step was necessary to address short-term liquidity constraints and preserve Yellowstone Club's long-term future," Yellowstone Club CEO, Edra Blixseth said.

Taunya Fagan Montana Real Estate News

In Tuesday's national elections, Montana's two senators, Max Baucus and Jon Tester along with its one Representative, Denny Rehberg, were re-elected.

According to the State of Montana official election results on the state website, the Democratic party extended its power base; it now controls offices of the governor, the secretary of state, the attorney general, the superintendent of public instruction, and the state auditor. You have to go way back to 1848 for similar, lop-sided, one-party power in Montana.

Regardless, the Montana Democratic count in the legislature diminished somewhat due to Republicans winning a majority of the seats vacated due to term-limits. The House looks like it will come out at a balance of 50-50, and the Senate looks as though it will be 27 Republicans and 23 Democrats.

According to the Council of State Governments: Two of the three ballot measures, Ballot Issue I-155 and LR-118, passed; the third, C-44 lost:

1. C-44, which lost, would have allowed "up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock and provides an immediate effective date."
2. I-155, which won Will "allow up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock and provides
   an immediate effective date."
3. LR-188, which won, Will now "provide for the continuation of a 6-mill levy to support the state university system. The current 6 mill levy is set to expire in January 2009. This would allow it to effectively continue through January 2019."

It's interesting to note that Montana's Land Board, made up of the aforementioned offices, makes land decisions on all state logging and state oil leases, and Montana's educational system, among other agencies, counts on the proceeds from leasing state land to logging, oil, farming, ranching, and other private operations.

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 Taunya Fagan Montana Real Estate - Montana Ranches

Regularly in the top North American skiing and North America snowboarding rankings, Big Sky Resort in Big Sky, Montana has claimed the number 9 spot on Skinet's Top Ten Resorts for Challenging Terrain: 2008-2009.

Big Sky Resort is often considered one of America's top ten ski resorts in some category, be it challenging terrain, or simply BEST ski resort. The Big Sky Ski Resort has modern lifts to transport skiers and snowboarders up the slopes of regal Lone Mountain, Andesite Mountain, and Flat Iron Mountain, dropping skiers and snowboarders off for 4,350 vertical feet of down.

Big Sky, Montana, once a highly seasonal, "company town" is now a year-round, small-town, recreational destination town, home to more than 1250 residents, over 350 Chamber members, and four ski resorts.

Big Sky's small-town, big-time skiing atmosphere is great for hard-core and family snowboarding and skiing. Only 45 miles from Bozeman, Montana, it's an easy drive from Gallatin Airport to the slopes.

Montana Skiing & Montana Snowboarding: Come and experience yet another Montana adventure...

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Taunya Fagan Montana Real Estate - Montana Ski Homes

The Bridger Ski Foundation will hold its annual Bozeman Ski Swap on Saturday and Sunday, November 8th and 9th, 2008 at the Gallatin County Fairgrounds, 901 North Black in Bozeman.

Except for the first hour, this annual ski equipment flea market for everything ski- and snow-board related is open to the public. Find alpine, nordic, snowboard, and skate skis, along with poles, boots bindings, clothing, helmets, kids equipment, and more.

This is another one of Bozeman's annual events in which you may witness the camaraderie and fun Bozmanites enjoy. Simply experiencing the masses of ski equipment, the excitement, and the fun the young and old die-hard and beginning skiers have in the old fairground buildings, is worth the $2.00 admission fee (for non-members).

-Bring your Consignments on Friday, November 7 between 10am and 7pm.  Costs $1.00 for each item consigned.
-Swap opens to Club Members, Saturday 9am - 10am. (Members Only for first hour.)
-Swap then opens to General Public, Saturday, 10am - 5pm - Open to Everyone. Admission $2.00 for non-BSF members.
-Swap opens to General Public, Sunday, 10am - 2pm - Open to Everyone. Free Admission for all.

Need more information? Call 406-587-2445

Find your ski gear, and be prepared to hit the slopes of The Ridge at Bridger Bowl, Lone Peak at Big Sky Resort, Bohart Ranch's groomed nordic trails, the north side of Lone Mountain at Moonlight Basin, or the nordic trails at Lone Mountain Ranch...soon!

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Southwest Montana Ski Areas - Bozeman Skiing - Big Sky Snowboarding   

Montana Ski Homes - Luxury Ski Homes