Letter: Ex-Skico employee milked the system
November 14, 2014
I consider myself a liberal. That said, the Aspen Skiing Co. loss to the Cherretts for their bankruptcy blew me away. Hmmm. A $500,000 loan, a starting salary of $300,000, a signing bonus of $75,000 and participation in an incentive plan for additional compensation. And they still own a home in Jackson Hole, which can't be a small asset.
"Paul (Cherrett) hoped that (his Colorado residence) would appreciate in value so that when it was sold, the Cherretts would realize a profit," according to the bankruptcy court's ruling ("Skico loses bankruptcy fight with ex-exec," Nov. 13, The Aspen Times). That later "evaporated." All of us in the Roaring Fork Valley lost money over the past years. Maybe we should all file for bankruptcy. For me, I think the bankruptcy laws should be changed.
Shame on you, Paul, but congratulations for milking the system.
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