American Skiing Company
American Skiing Company
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Product Details
American Skiing Company
Certificate Type
Common Stock
Date Issued
October 11, 2001
Canceled
No
Printer
American Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) by 8" (h)
Additional Details
NA
Historical Context
The American Skiing Company was one of the largest operators of alpine ski, snowboard and golf resorts in the United States. Its resorts included Sunday River and Sugarloaf, in Maine and The Canyons in Utah.
In 1980, Les Otten, the son of a German immigrant, purchased the Sunday River resort for $840,000 from the Sherburne Corporation. Sunday River included one double chair and a couple of surface lifts at the time. Sunday River slowly grew to become New England's second most popular resort in the 1990s. According to a USA Today story, Otten, an imaginative marketer, "sent a truck down to Boston, where it dumped mountains of snow on the Common. The message: 'The skiing is great at Sunday River, so come on up'."
In 1994, Otten formed LBO Resort Enterprises Corp and purchased Attitash Bear Peak in New Hampshire. By 1995, Sugarbush, Vermont was added to the portfolio of LBO resorts.
In 1996, Otten purchased Mount Cranmore in the Mount Washington Valley of New Hampshire. Later that year, Otten sought to purchase S-K-I Ltd., owners of Killington, Mount Snow, and Haystack, Vermont, Waterville Valley, New Hampshire, and controlling interest in Sugarloaf, Maine. Because of monopoly concerns, the company was only allowed to purchase Killington, Mount Snow, Haystack, and Sugarloaf. Upon acquiring S-K-I Ltd., LBO Resort Enterprises was renamed the American Skiing Company.
By 1997, the company expanded west, buying Wolf Mountain in Park City, Utah. It quickly was transformed into The Canyons, now the largest resort in Utah. In 1998, the company, now known as American Skiing Company went public on the New York Stock Exchange and purchased Heavenly, California and Steamboat, Colorado from Kamori International.
By the time the new millennium rolled around, Les Otten had left the company amidst a huge debt crises; their earnings had not kept pace with their growth. As the huge debts racked up, ASC was forced to sell Heavenly to Vail Resorts, Steamboat to Intrawest, and Sugarbush to a group of investors.
In January 2007, rumors surfaced that ASC might be in the process of selling Killington and Pico to Powdr Corporation, and Attitash and Mount Snow to Peak Resorts. It was later confirmed in a letter to the All For One pass holders that Mount Snow and Attitash had been sold to Peak Resorts and that Killington and Pico have been sold to SP Land Company, LLC, who will join with Powdr in a new venture to operate the two mountains.
In June 2007, ASC announced plans to sell Sunday River and Sugarloaf to Boyne Resorts.
Finally in July 2008, it was announced that American Skiing Company's last remaining and flagship resort, The Canyons had been bought by the Talisker Corporation for $100 million, setting the stage for the dissolution of the company.
Related Collections
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
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Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
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Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.