VAIL: PROFITS SET RECORD
Broomfield-based Vail Resorts Inc. reported an 11.3 percent net income increase in the third quarter compared to a year ago. Still, on Wall Street the company's stock fell more than 5 percent as its results still came in below forecasts. Ending on April 30, Vail Resorts netted $87.3 million, and its overall revenues increased 14.7 percent to $423.8 million, the Rocky Mountain News reported. A 26 percent increase in international visitors is thought to have helped offset the decline in U.S. skiers as the nation's economy continues to falter.
WOLF CREEK: SUIT SETTLED, FINALLY
Developers for the Village at Wolf Creek and ski area owners have settled a lawsuit that dealt with disputed agreements for the proposed base village development, boundaries, and breaches of contract. Although suffering a series of legal setbacks, developer Bob Honts said he plans to go ahead with the development proposal to handle 10,000 people at the base of Wolf Creek Ski Area, the Rocky Mountain News reported. The suit was finally dismissed after four years and five days of back and forth between the parties.
STEAMBOAT SPRINGS: HIGH CORN PRICES AFFECTING RANCHERS
With prices nearing $6 a bushel for corn, ranchers are feeling the pinch. Rising grain means increased input costs for cattle, utlimately driving down the price for calves. Ranchers in the Steamboat area produce mostly calves and yearling, which eat grain at the feedlots, the Steamboat Springs & Pilot reported. Cattle accounts for 70 percent of agriculture in Routt County, where Steamboat Springs ski resort is based.
