Ogden Newspaper Says Powder Mountain In Play With California Company
Powder Mountain in East Eden, Utah, 19 miles northeast of Ogden, is reportedly in play as Summit Series, a company based in Malibu, Calif. is apparently in the due diligence process. The report surfaced in the Ogden Standard-Examiner.
The newspaper reports that Summit was founded in 2009 by Elliott Bisnow. He is also co-founder with his father, Mark Bisnow, of Bisnow Media, which publishes business newsletters in 18 cities. Summit says on one of its websites that it hosts “invitation-only events that connect and inspire a new generation of leaders to succeed in business and in life.”
The company recenty hosted a “basecamp” at Squaw Valley, Calif. that it claims attracted 650 business leaders. The newspaper said Summit leaders declined to comment on the story.
However, multiple sources have told the newspaper that Summit sent out an email sales pitch looking for investors to help finance a purchase of Powder. That email, which they asked to keep private, said in part: “The goal is to create a culture year-round for innovation, entrepreneurship, and kindness.”
Powder Mountain would become a permanent home for Summit Series that has, in the past, attracted speakers such as former President Bill Clinton and Dallas Mavericks owner Mark Cuban.
More than a dozen Summit officials are renting multiple homes in the Eden area, a local resident told the Standard-Examiner. Powder Mountain has been owned by Western American Holdings since 2006. There are seven lifts and some 7,000 acres of terrain, both inbounds and in backcountry.
What It Means: Due-diligence is just that. But, if the purchase is made, it will probably be acceptable in the local area as long as the ski area remains open to the public. Still, it is a rather unusual acquisition.
Photo: Powder Mountain courtesy Backcountry.com