Coffee at Jamie's on Main St

Having coffee at Jamie’s, by the window, occasional glances at the passers by on main St, scanning the  NY Times. Patty served me after being introduced by Sam from the general Store. She was complaining, “I’m 34 why do I only get set up with 24 y.o. guys?” Sam’s cue.

Sam is the genial guy about town, knows everyone, and is the consummate town host, or at least he has been to me! Everyone in Stowe is 2 degrees of separation from him. From the inventor to the Oscar nominated actor. Stowe is a small town, and if it wasn’t for the ski resort would be non existent in mine and other folk’s eyes. The mix of the urbane and the folksy down home create opportunities for intercourse. The “Kindle” coexists with the lack of wireless coverage, and creates pleasant small town exchanges that refugees from the big NE cities encourage. It is after all the openness and confidence of the big city folk that creates the small town atmosphere. The small town folk seem more suspicious and wary of interaction with strangers. Yet we big city folk are drawn to the Rockwellian view of small town life, and is one of a pleasant exchange of light conversation. The reality I’m sure is somewhat different. I’m drawn to the anonymity of NYC life. In Manhattan one can completely avoid interaction of any depth, but without ever being alone. I can walk the streets of the city with the aloofness of James Dean or the texture of one of those lid century b&w photos. Nobody knows me, but all who casually pass, and I mean the most casual pass, know I belong to the city. Our Manhattan neighborhoods are mere blocks, our dogs are better known than the patrons of the local wine store, our local coffee spot, the pizza joint. That is our anonymous world. Faces are known, remembered, or at least our preference in coffee, but we are nameless members of our neighborhood. Names for our dogs asked and remembered, but rarely requested of us, and even less seldom given. I’ve lived 20 years in one small 9 number zip code, & I’m mis-known as the Australian by the coffee shop owner. Maybe that’s me, but that’s the way I prefer it. With the greyhound and the Alaskan, I was known as the greyhounds Dad, ( a common NYC naming convention…”oh I banged into …insert dogs name…owner today”) or as the Alaskans boyfriend. I think I prefer the descriptor as naming convention. It implies and establishes connection without a wordy verbose explanation. 

Of course I’m not known as the Alaskans anything now. I’m the recent ex…recent enough to still wonder what happened. Unclear what precipitated the break-up. My past experience in NYC is that there’s usually someone else. People get bored, no matter how wonderful you may be, the grass is always greener. Invariably all that’s happening is a change from rye to bluegrass. When the Alaskan said it was over, it came from nowhere. There was no inkling, although she’d even admit she’s a difficult one, and although the saying goes past history is no guarantee of future results, in relationships that is untrue. She has a history of short term relationships, most lasting mere months, and the less time spent together, the duration of the coupling, measured in months is longer. Long distance relationships are even preferable for duration. Our relationship was full and seemed content, directed and good for both. 

She wants, as she put it a few weeks ago in a text “Time alone, I do like you in my life but I can’t commit right now, I want time alone” The words “time alone” were repeated 3 times. So even a complete idiot can figure out the essence of the message, leave me alone. So the Alaskan has all the cards. So will she make an attempt at a return? Who knows, I mean at this point I don’t know and she doesn’t either. 

My opinion of the Alaskan is heavily influenced by the fact that I’d prefer she was in my life right now. I’m alone, and enjoy the company of others. When I meet some other attractive athletic blonde girl, my type, I’ll be as happy as a clam. ( BTW what makes a clam the metaphor for joy?) 

Snow Condition Disparity and a good jog

2-4” light fluffy snow. Ran the Stowe rec path. Cold, Temp around 30, sunny and light wind. Running along thru fields kicking up fresh new snow. It reminded me of the Clydesdale Bud commercials, couldn’t help but smile. While not fast running, the resistance of the snow, the need to lift feet higher out of the snow, & the extra care placing ones feet, made it a high quality workout. Ran for near enough to an hour. Exhilarating, a real runners high today. If my smile was an indicator I was definitely having more fun than the few cross country skiers or snow shoe-rs I saw. Maybe up there with the Labradors I encountered along the trail.

 Snow Conditions: 

Stowe Reporter December 31 Page 17

 Snow in Stowe reached 24” at the Mansfield snow measuring stake the morning of Dec. 22. By Dec 29 the level had fallen to 7”

 Stowe.com Web site, Dec 31 ….33" at the Mansfield Stake why the 26” disparity on the Mansfield stake?

Introspection on Year End

The “New Year” marks the passing of the old, and the prospect for a new Start.

 Most it would appear have a period of introspection. Well I sure do. 

This new year I thought I’d be spending it with the Alaskan, well that didn’t come to pass. Jacques Prevert the French philosopher poet summed it up well enough:

 The Dead Leaves

 Oh I wish so much you would remember

 those happy days when we were friends.

Life in those times was so much brighter

and the sun was hotter than today.

Dead leaves picked up by the shovelful.

You see, I have not forgotten.

 Dead leaves picked up by the shovelful,

 memories and regrets also,

 and the North wind carries them away

 into the cold night of oblivion.

You see, I have not forgotten

 the song that you sang for me:

 It is a song resembling us.

 We lived together, the both of us,

 you who loved me

 and I who loved you.

 But life drives apart those who love

 ever so softly

without a noise

 and the sea erases from the sand

 the steps of lovers gone their ways.

 So for the few girls who were part of my life in the past many years, here’s to you.

 

 

Yikes-really bad ski fashion

Observing the multitudes of skiers and boarders from the Lodge today, all I could think was where was the missing link to Jean Claude Killy? ...how is it possible that this is the legacy of such a “sexy” sport.

The “fashions” on display should be rated…my new role...ski fashionista. Abominable taste for the most part, but I will also …gladly …and on the rare occasion I see something “fashionable” post that here for your perusal and opportunity to enjoy, and emulate.

 Snowboarders in particular appear to exhibit horrific taste…The young men who tend toward scraggly beards and oversize pants… the more that you look like you’ve just finished working at the local Mobil station and worked under the car the better. Grease oil stains and just generally the more filthy the better. At one point  when I needed a jump start for my car I mistakenly 

approached  a snowboarder, that’s an easy mistake.

I’ve skied in some of the great resorts of the world and there is no way your average Cortina or Zermatt visitor would dare be seen dressed like some of these folks as they parade down the main street each evening. Yet here it is considered the “norm”

So from now on I will publish the truly heinous in ski fashion…and the well coifed…I’m sure there will be less of the latter, but here’s hoping for a surprise in that direction.

Where’s a Nikki Beach where ostensibly the good looking go? Or a Club 66? Is there a market here for that? I mean the Matterhorn is decidedly tacky, and full of the aforesaid badly dressed and presented. A season of watching will tell. 

The stores in the new Spruce Lodge include an elegant Ralph Lauren store. On display a range of fashion suited for lounging at the Lodge. Did I see any one outfit stylishly worn? No.

Stowe Ski report vs Actual Photos

This is the official Snow report from the stowe website. And these are photos taken Sunday Afternoon. Do you see any correaltion? In 2005 AIG paid $1.6billion fine for irregularities. Did that include ski report embellishment? The ski Report vs Photos: You be the judge

• Base: 30°
• Summit: 20°
• Trails Open 54 (20.4 Miles)
• Lifts Open: 11
• Primary Surface
  • Machine Groomed/Loose/Frozen Granular

• Average Base Depths
• Snowmaking: 28" - 54"
• Natural Snow: 10" - 20"
• Mt. Mansfield Stake: 30"
• • Snowfall
  • Last 24 Hours: 0"
  • Last 48 Hours: 0"
  • Last 7 Days: 14-18"
  • Season Total: 120"
  Winter returned last night and was welcomed by Stowe's groomer fleet and snow makers. We groomed 42 trails overnight including Liftline & Nosedive, and we're making snow on Upper Lord, Upper Ridgeview, Ridgeview & Sunrise. The forecast includes seasonable temperatures and light snow tonight and possibly again on Wednesday. The Medium & Small Terrain Parks are open. We're just about done making snow for the half-pipe and we'll start constructing it shortly. We'll have igloo village building at Spruce today, live entertainment in our base lodges, and Warren Miller's latest movie, "Children of Winter", this evening at the Vermont Ski Museum in Stowe Village. The new Winter Cottage located at Spruce Peak is now open with lunch hours 11a-4p daily, Apres-Ski 4-7p daily, and Sunday Brunch from 11a-4p. The FourRunner Quad is scheduled to open each day at 7:30 a.m. through January 4th--the earliest start time in Vermont.
  
• 
  

Dismal-Rain.

Saturday – dismal! Ski resorts when it rains are dismal. The expectation is of snow and sunshine and the thrill, adrenalin rush of a high speed run.

When it RAINS its just plain dismal. The day was meant to be spent in the company of others on the lifts and runs, followed by a couple of celebratory beers at the après ski joint of choice. The celebratory beers turns into commiserating beers, starting at the earliest hour feasible.

 The alternatives to skiing? (The aforesaid drowning of sorrows at various bars exempted) include, according to my own witness at the Stowe Visitor center, in no particular order:- Visiting Ben & Jerry’s Ice Cream factory, taking a tour of the multitude of craft shops, visiting a dairy, or as one couple requested looking at covered bridges…now that makes sense as the “cover” will protect you from the misery of rain.

 Visited The Shed, famous apparently for the creation of  “The Shed-ache” –their beers having as much as 7% alcohol content. The bar section includes free popcorn...Ate the burger, OK, nothing to write home about…and the place was reasonably full with a smattering of unattractive, badly dressed, overweight woman. Seriously, skiing used to have the Jean-Claude Killy sexiness to it…that has obviously gone the way of the dodo bird. Still looking for an attractive woman in this town. Is that too much to ask? I mean the economy is dismal, surely its not too much to ask for an occasional glimpse of an attractive athletic gal? 

Rimrocks tavern an unprepossessing Tavern, its clientele notable for the need to be carded. Enough said. 

AIG & Stowe-continued

Mr Cornelius  Vander  Starr founded AIG in Shanghai in 1919. In 1946 bought property in Stowe and by acquiring disparate interests in the Stowe area created  the Mt Mansfield Company. Mr Starr’s AIG company was a private company. He could do any thing he liked. Mr Starr was introduced to the prospective resort as an investment. 

In 1969 Hank Greenberg was personally selected by Mr Starr to take the helm of AIG. Mr Starr passed soon there after. In 1970 AIG went public.

In 1970 from the estate of CV Starr AIG acquired the Mt Mansfield Company. A strange and odd acquisition for a publicly traded company. In its defense public companies did lavish a whole host of perks on there executives in that era. IBM owned a golf course for example. And historically the “company town” offered employees recreational facilities.

Mr Greenberg of course was enamored of everything Stowe, and many AIG executives have homes in Stowe. Mr Greenberg was obviously enamoured of everything Starr too. Since being “removed” from AIG front office in 2005 following an accounting scandal that required the payment of a $1.6 billion fine, ( that’s a big fine!)…Mr Greenberg went on to start C V Starr an insurance company. 

Back to Stowe.

Mr Greenberg is a famously competitive person, combative would describe him well. Skiing was a passion. So in the early 2000’s after much consent from Vermont Governement an ambitious expansion for Stowe was planned. It seems from what I’ve read that Mr Greenberg was very involved. Planning a $400 million expansion with AIG’s money. $200m has been spent and the balance is in offering. 

AIG is/was a trillion dollar balance sheet company. AIG gives no mention in its Public filings to Mt Mansfield Company in its annual report. In  AIG's most recent annual report The word "Stowe" is not to be found and there's only a single line in the SEC filing that reveals the insurer's 100% ownership of Mt. Mansfield Company--the official corporate name of the ski resort.There is no breakdown on its balance sheet, no sales figures no nothing. The estimated taxable sales at Mt Mansfield Company are $40m.

So what’s a company with a trillion dollar balance sheet, once the 18^th largest corporation in the world doing with a ski resort? Is this a personal boondoggle? The private playground of a former CEO?

The company has to wind out positions and divest itself of assets.

The Mt Mansfield Company is clearly on the offering block. It will only sell at a big discount to current investment in this climate. Who is in the hunt? Mr Greenberg himself. 

According to estimates that I’ve read the Mt Mansfield Company might bring $85-125million. Considering over $200m has been spent in the last few years on expansion backed by AIG…that seems a good deal. 

According to an article in the “Stowe Reporter” Mr Greenberg has plenty of available funds as he hedged his considerable AIG stock with many market participants in PVF’s Prepaid Variable Forward Contract. These trades mean that he has realized the value of AIG stock as of a past date, in this case back in 2005. Guess what, a major make out for Mr Greenberg, and several hundred million dollar losses for among others Citibank and Credit Suisse. 

Support in Stowe for AIG and Mr Greenberg appears to run high. Of course why wouldn’t it. AIG’s involvement has meant an extremely deep pocketed investor in a small town in Northern Vermont. The personal endorsement and “plaything” of as powerful CEO as Mr Greenberg makes it a sacrosanct project within the larger Corporation. 

What will happen? The Mt Mansfield Corporation will be sold, and based on what I’ve read and heard Mr Greenberg will be involved. Who else in today’s economic climate would invest in a ski resort in Vermont?

8.15am Mt Mansfield

Christmas Day

Merry Christmas.

Overnight 20 knot plus winds, rain. Melts at least 8” snow.

Morning conditions – Dismal. Just windy and raw.

Still the sun comes out.

Spruce Lodge the new base lodge…is sparsely populated. The slopes threadbare in many places. Most of the mountains lifts are closed due to high winds. Went for a jog. Little happens.

 

In the category of just plain asinine.

Asinine def: adj, foolish, unintelligent, or silly; stupid

 Driving in from NYC late Tuesday night, as chance would have it, the absolutely most banal, intolerably stupid song was playing on the Country station. It is difficult to imagine the total idiocy of the lyrics. So here is the chorus, repeated ad nauseum:

‘Cause I’m a country boy, I’ve got a 4-wheel drive

Climb in my bed, I’ll take you for a ride

Up city streets, down country roads

I can get you where you need to go

’cause I’m a country boy

 

If someone above Pre K or 2^nd Grade wrote this unmitigated crap its difficult to imagine. No somewhat intelligent person could possibly write this drivel and be at all self satisfied. Could they?

 

What moron wrote this drivel? In my research I found out that it is the country performer Alan Jackson. A major star in the world of country music, no less. 

In all fairness the majority of  Song Lyrics show little intellectual thought. But the above lyric proves the old adage that given enough time, computers and an infinite number of monkeys they could produce the entire works of Shakespeare. In the case of the above lyric, I believe they used the limited supply of monkeys at the Bronx Zoo and an old Dell laptop. 

Dinner at Harrisons Restaurant, Main St Stowe

Apparently it was the town meeting in Stowe, various selectmen returned to the tiny restaurant at the 3 way stop sign in Stowe. The meetings agenda how to ensure the relevancy of the main Street with all the millions spent up at the base of the mountain. The access road has so much of the shopping and the nightlife. I’ve heard these debates all over the eastern Seaboard. Everybody talks about how much they love the small town centers, but then won’t go there because lack of parking or whatever…I dined at the bar, among my new dining companions, 4^th generation “Stowers” ( if there is such a thing) said they’d heard it all before!

 We talked about the key event of the winter the upcoming Stowe Derby Feb 22^nd 2009. I’m ready. His advice, “don’t get overtaken by any girls”

 We covered the essential reasons why I was here. AIG, business, Prozac, girls. This of course now became a mantra for my new found acquaintances. “ Do you know anybody who takes prozac?” …the interesting response, “No. Do you want some?” Ummm….

 The group of characters included various selectman, the sock salesman, the dutch guy, the town high school history teacher, and surprisingly, directly across the bar, one of his pupils, studying for the final test of the year, on the final day of the year. Is that possible? Is that legal? Can you make this up? She was with her family, but they were sitting at the bar.

 Monday my first day in Stowe, and the evening was interesting. Temperature 12, friggn’ cold. Must figure out about this dry gas stuff for the gas tank on my trusty Saab!

Greyhounds and X-Country Skiing

Adopt a Greyhound

I passed this car today on Main Street in Stowe.

The ex, aka The Alaskan, loved dogs, as do I. Both of our tastes tended toward Labradors. The rambunctious personality aptly fitted our own. The Greyhound, had many names, Noodle, the Creature, GA, (greyhound athlete), Saurus, so many it was crazy. He was 6 or so, and a fine fellow. A true goof. I never had much kinship with greyhounds, the GA, changed all that. He has a “keen” sense of humor. He was always making jokes at

 the expense of all. He was an extremely stylish fellow, invariably kited out in custom collars and fine jackets that best displayed his handsome profile. GA was a couch potato, the occasional forays into a “trot” or god forbid a gallop, were rare indeed. But seeing this big lug run this Autumn in an open field in Litchfield County was a wondrous sight. The GA just lopped along with such grace, and the shear joy on his face was palpable to all. I was so looking forward to seeing him run on the beach, and taking him to the mountains. But he wasn’t mine. He’s back in NYC with the Alaskan, looking forward to his forays to the NY Wine Exchange for his evening treat.

 Of course I can’t imagine how the big lug would do in this cold weather…expected to be -10 tonight. I’ve been told to put “dry gas” in my cars fuel tank. I have no idea what the hell this is, where to get it or whether or not the TSA lets you take it on a plane ( I suspect not!)

X-Country Skiing.

One of my goals, to X-country ski 15k in under 50 minutes, started today. Investigating the purchase of appropriate equipment. That would be , Skis, boots, poles, bindings ie everything! I have cross country skied 2. Once to walk the dogs in New Hampshire…it really wasn’t “skiing” or even exercise more like a hike in the woods. To meet my goals…I must have equipment…makes sense? I’m looking to replace my jogging kick, about 7 miles a day 5 times a week with the x-country skiing. ( I mean who could run around Stowe with all this snow. So, its exercise driven, and challenge driven. I mean how hard can this be?

In this quest, I headed up to Trapp Family Lodge, of Sound of Music Fame. No I didn’t see liesel, or Julie Andrews for that matter, but it almost feels as if you should have your passport stamped. While the signs were in English, I did feel as if I’d ausfaht-ed into a lttle piece of the Tyrol. The only problem they decided to build this place on top of a hill, and it was blowing snow everywhere, and freezing…not really conducive to anything let alone giving me much enthusiasm for getting out and skiing. There was a perfectly comfortable cabin with stylish Norwegian inspired clothing. (Do Austrians and Norse people get on? I must check) I am of course looking for Sven, ( the imaginary ski instructor to get me to my 15k time) I’d prefer a gorgeous blonde Nordic goddess, but unfortunately they seem to be in short supply up here, from my first impressions. And on top of that they all look rather…how can I put this “granola-ry”. I’m used to lithe, athletic blonde NYC girls, who happen to spend an exorbitant amount of time removing the “granola-ry” about them. Well coiffed, exfoliated, and bereft of most body hair. That is another subject matter entirely, that I will leave well enough alone.

$500 for the ski equipment. Whoa! I thought it would be like $250. Its $200 for the trail pass, for the season, apparently. Still that’s better “value” than the $89 for a days lift ticket Christmas Day at Mt AIG-Mansfield. 

AIG and Stowe?

How on earth did an erstwhile insurance company, financial services company ever get involved in owning, operating and developing a ski resort? And even more importantly why has no one questioned this purchase and continued operation.

How many other ski resorts or “resorts” does AIG own.

What is the payback or ROI on  AIG’s Stowe investments.

What is the “Value added” that Stowe brings to the AIG family?

What was the decision making process that took executives away from their core competencies to concentrate on the acquisition & management of a ski resort?

At what level were these decisions made?

What was the modus operandi for similar size acquisitions? Were there any?

Is/ was this the best use of intellectual capital?

Is /was this the best use of invest able capital?

Is there something not “quite right” ?

Is there some self interest being served here?

Tyco’s former CEO was imprisoned and his lavish lifestyle put firmly in the public eye. His taste for million dollar bacchanalian Sardinian exploits and $ 6000 shower curtain or was that the cost of the waste paper bin? I really can’t remember the exact details, but the drift was one of personal excess at the expense of share holders. Of course Tyco didn’t need a government backed $ 150 billion plus facility to get it through the current crisis. And frankly the extent of his malfeasance in this current climate seems downright “modest”

Would AIG’s management have served there fiduciary responsibilities better if they’d managed there credit swaps risk operation ( well obviously in hindsight) instead of spurious time spent on managing Stowe? How much time of senior management has been spent on this division? What was the genesis of the idea? I intend to get to the bottom of this. Why? Because it’s a weird acquisition for an insurance company!

If my speculation is true. The CEO purchased Stowe because he has a house in Stowe, and he could then control his personal backyard for his own good. Isn’t that the same as

 

 

Bailout, why?

Since September 15^th 2008 my world in New York City changed, as did a lot of peoples. Lehman went down, AIG got rescued, the US Governemnt gave us TARP, Citi Group almost fell, sales of everything plummeted.

Like so many of us it was like watching a slow speed car chase, every day we were barraged with news of doom and gloom. My friends were getting laid off from good paying finance jobs, and frankly these jobs or equivalents in terms of pay may very well never come back. The Government stepped into save the big companies in an unprecedented interventionism. My situation? I am CEO of my own company, a start up, I take risks. I build or try to build companies. I work hard and think differently. My customers all over the US were all depressed, their sales just stopped. So I’m stuck with a warehouse of inventory. My own factory in SE Asia. And suddenly sales were anemic. The collective ‘we” were all riveted to the news cycle of big finance collapse, and we were all losing sales. Toyota’s sales plummeted 40% in a month. Those numbers are unfathomable, and frankly NO ONE could anticipate or budget for such a mind blowing drop.

I worried, what business owner wouldn’t.

At the same time my “current love of my life” unexpectedly, out of the blue and dramatically ended our relationship. I think the exact words were, “I don’t think I see us together in the long term” and its “just my intuition” Well who am I to argue with the intuition of the Alaskan, ( Born and raised in Alaska) So I left, the next week she wanted me back, we spent the weekend. But her intuition hadn’t changed.

Now I’m at a bit of a loss with this breakup…there is no other person…she’s just well…the Alaskan…an enigma wrapped up in a …well you know the rest.

That was Thanksgiving. So what to do?

I forecast that the first 3 months of 2009 in New York are going to be very depressing. The financial news, layoffs, unemployment, bailouts etc is going to feed us a steady dose of disappointment. With the new administration strategically dumping out as much of the bad news as possible. Lets face it everything that can be blamed on the Bush /Republicans will be and probably some more. Obama and his team will look like saviors if they give us any improvement, so make a low base from where you start. So look for the abd news.

I want to avoid the TV news cycle, CNBC,  NY times, WSJ as much as I can. I want to remove myself from the constant internet. I am an information junky.

So if this prediction is right…I’d say I’m pretty safe in my assumptions… and with my current unattached status why not remove myself from NY, Bailout, so to speak for my sanity. So that’s what I’m doing. 

My goals, simple.

Read.

Write.

Work.

X-Country ski, I never have really…but my goal is to be able to ski 15k in 50minutes…I think that’s a good time.

Downhill ski…as often as possible…I’m fussy…conditions have to be perfect..powder, and preferably a helicopter…but a chairlift will do.

Not worry…

Read the NY times once per week…Sunday.

Check the internet once per day…for emails and research only.

Go from DJIA, VIX, GDP assessments to New snow, outside temperature, miles skied. 

Figure out where the next business opportunity lies. After all no one is going to employ me… 

Enjoy the simple things in life.

Make some new friends, connect with people.

So that’s the goal. Will I be able to do it?

So these are the questions?

Will I find a new business opportunity?

Will the Alaskan come back?

Will I keep away from the Internet?

Perchance a new romance with a “new love of my life”?

I’ve bailedout of NYC. It cost the US treasury zero. I am available to solve GM’s problems if asked. I’d do it for 25% of Rick Waggoners salary and that’s $4m for me. AND I’d personally guarantee the bailout loan…

 

Leaving NYC

This morning I embarked on my sojourn. The bailout. Overnight 8” of snow fell. Just cold enough to snow, and just warm enough for some freezing to take place, the car was frozen in a veneer of icy crud. The temperature 19 d F. Leaving at 6am the roads were slippery but empty. 

The drive was punctuated by weird stoppages. Accidents perhaps? Traffic jams? Nope. The snow plow crews on the highway work in this intentional pattern as many as 5 across the highway, going about 30 mph…and effectively shielding the road from any forward momentum. Of course the little new snow on the highway didn’t need plowing anyway…a mere dusting on the road, but I guess in these economic times the crews determined they needed the money. Mike Bloomberg got criticized a year or so back as he wasn’t going to plow or salt unless the snowfall was of a plow able quantity saving the taxpaying citizens money. Seems smart to me. Well obviously they don’t have that kind of sense in Massachusetts.

 

The roads were slippery, but if reasonably sensible didn’t seem a problem. A number of cars weren’t so lucky and their exits off the highway into the snow banks must’ve been the result of idiocy of some type.

Arrive in Stowe at midday.

Stowe…the sign announces…, the very first building, a motel, has a large and ominous “Foreclosure” sign. Ah… so much for riding out the bailout economy in Stowe. Of course I guess its apropos that Stowe Ski resort is owned by AIG. A little known fact. The former CEO of AIG has a house in Stowe. Coincidence? What right does AIG have in owning Stowe? This seems a little outside their core competency? Of course “competency” at AIG is debatable, based on their risk management skills, and the fact that at last count the US treasury had poured over $ 100 billion into this company, with surprisingly little public outrage, in comparison to the US Auto industry who only wanted a paltry $25 billion, and only managed a pathetic $14b. jeez Larry Ellison of Oracle could’ve written that check out and still had plenty of change to pursue his indulgences.

So the ski resort is under the management of the US treasury. Do treasury employees get discounted lift tickets? Stowe resort is proud to note on there employment opportunities web site, “Stock Option plan” included. What exactly does that mean? Shares in AIG? A greater share of indebtedness to Uncle Sam? Does this mean that we the US taxpayer have now invested in a resort in Northern Vermont? Will we only be allowed to ski on US made skis, no Rossignols? Inquiring minds must know.

2pm Have housing secured, a rustic vintage house, a 2 minute walk to the middle of Stowe.

There is no TV, no wi-fi signal available for me to pirate. No radio, in fact no furniture. Yet.