Intrawest owner wants Ottawa to pay $90M US: report Read mo

[Cateyes]

If you actually read any of the articles in question Fortress alludes to an agreement they made with Vanoc in 2002. It is from this agreement that Fortress feels that they are owed the $ 90 Million for use of the resort during the Olympics. Unfortunately the agreement has not been made public so we cannot confirm this information.

As the owners of GM Place were paid to lease the facility to Vanoc it only stands to reason that there would be an agreement in place to pay Fortress for the use of the resort for the Olympics as well. Whatever this lease amount is would be included in the budget. What is not clear is if the $ 90 Million WAS the agreed upon rate and Fortress is simply looking to accelerate the payment in order to satisfy payment obligations prior to the Feb 19 creditor deadline or if the $ 90 Million is an inflated amount being asked for by Fortress.

LOL......put down the crack pipe and step away from the computer.

What part of "wants the Canadian government to put up $90 million US before the Games start or it will sue." do you NOT understand???????????????????????????????

Are you an Olympics developer or something. Sheesssh.....like talking to a brick wall.

[Al Czervic]

LOL......put down the crack pipe and step away from the computer.

What part of "wants the Canadian government to put up $90 million US before the Games start or it will sue." do you NOT understand???????????????????????????????

Are you an Olympics developer or something. Sheesssh.....like talking to a brick wall.

What part do I not understand ? How about this part....

Feds put Olympic bailout rumours to rest
By Jesse Ferreras

The Canadian government is not bailing out Fortress Investments to the tune of $90 million, despite media assertions to the contrary.

A spokeswoman for James Moore, Minister of Canadian Heritage, confirmed to Pique that the federal government assumes "no responsibility" for any Games-related debt because it's protected by a multi-party agreement.

"In that agreement it clearly says the Government of Canada has no responsibility for any debt resulting from the Games," Deirdra McCracken said. "Therefore, based on that, we couldn't actually be asked to pay for a resort or any investment made by a company such as Fortress."

McCracken was responding to a Saturday New York Post story that said Fortress Investments LLC, the investment firm that owns Intrawest, was seeking $90 million from the Canadian government for Whistler Blackcomb hosting the Olympics or it would sue.

The story asserted that Fortress wanted to be paid before the Olympics or it would commence legal action. The New York Post did not identify any of its sources.

The government tune is a little different. McCracken said the story was inaccurate and that the federal government hadn't been approached by Fortress for any money. Thus it wouldn't be taking any action on a demand that apparently didn't exist.

As you seem to be an expert on “crack pipes” perhaps you should try putting yours down and take up reading for a change. You might actually learn something.

[Logitack]

the feds take no responsibility for the 90 million..........i guess gordo will have to come up with it ..... and now the costs start adding up...thank gawd gordo got that 1.6 billion bribe from the feds to cover the cost of this 90 million

[Al Czervic]

:dyinglaughing: the feds take no responsibility for the 90 million..........i guess gordo will have to come up with it ..... and now the costs start adding up...thank gawd gordo got that 1.6 billion bribe from the feds to cover the cost of this 90 million

No to throw facts at a socialist but assuming the $90 Million (yet to even be verified) was owed by B.C. as you have just suggested why then would Fortress allegedly (because even this is yet to be confirmed) why would Fortress elect to sue the Federal Government and not the B.C. Government?

There is clearly much more to the story but why rush to making conclusions without the established facts to back it up? It’s almost like some of you would rather just make it up as you go along.

[Logitack]

It’s almost like some of you would rather just make it up as you go along.

you mean like gordo and the fiberals do, al?

[Al Czervic]

It’s almost like some of you would rather just make it up as you go along.

you mean like gordo and the fiberals do, al?

I am talking about you Logitack. When I post something as being factual I am always prepared to at least try and back my facts up. I am only asking the same from you. Your post on this subject went against the known facts as they stand to date. Rather than simply evade the question why not address why you choose to deliberately ignore the factually obvious?

[mrj222]

:dyinglaughing: the feds take no responsibility for the 90 million..........i guess gordo will have to come up with it ..... and now the costs start adding up...thank gawd gordo got that 1.6 billion bribe from the feds to cover the cost of this 90 million

No to throw facts at a socialist but assuming the $90 Million (yet to even be verified) was owed by B.C. as you have just suggested why then would Fortress allegedly (because even this is yet to be confirmed) why would Fortress elect to sue the Federal Government and not the B.C. Government?

There is clearly much more to the story but why rush to making conclusions without the established facts to back it up? It’s almost like some of you would rather just make it up as you go along.

Much like the ICBC fraud scandal we will hear nothing more of this until almost a year later and when we do it will be a brief 10 second spot on global/cbc saying the money was paid and then it will never be heard of again.

Regardless of whether the money was promised or not 90M is still a scandalous amount of money to be paying whistler for the privilege of bringing them millions upon millions of dollars in business and advertising. 90M for the riches resort town but no money for schools or health care?

Surely you must see these olympics for the farce they are?

[Al Czervic]

:dyinglaughing: the feds take no responsibility for the 90 million..........i guess gordo will have to come up with it ..... and now the costs start adding up...thank gawd gordo got that 1.6 billion bribe from the feds to cover the cost of this 90 million

No to throw facts at a socialist but assuming the $90 Million (yet to even be verified) was owed by B.C. as you have just suggested why then would Fortress allegedly (because even this is yet to be confirmed) why would Fortress elect to sue the Federal Government and not the B.C. Government?

There is clearly much more to the story but why rush to making conclusions without the established facts to back it up? It’s almost like some of you would rather just make it up as you go along.

Much like the ICBC fraud scandal we will hear nothing more of this until almost a year later and when we do it will be a brief 10 second spot on global/cbc saying the money was paid and then it will never be heard of again.

Regardless of whether the money was promised or not 90M is still a scandalous amount of money to be paying whistler for the privilege of bringing them millions upon millions of dollars in business and advertising. 90M for the riches resort town but no money for schools or health care?

Surely you must see these olympics for the farce they are?

I think you miss the point that thus far the figure of $ 90 Million has NOT been confirmed. What is more odd is that the company claiming to be owed the $ 90 Million is NOT allegedly suing VANOC or the B.C Government but rather the Federal Government. Further the Federal Government denies all involvement or even knowledge of these claims. Further no action to date has even been filed in the B.C. Supreme Court. Basically I am simply following the facts as they present themselves and waiting to withhold judgement until such time it is clear exactly what is going on.

I was also commenting on why some people continually refuse to look at the facts as they stand and instead engage in knee jerk reactions and conclusions that are often false and misleading, much like the idiot who last week said the Olympics were going to be cancelled.