Word: skying
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Dates: during 1970-1979
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...Murchison's glass-and-aspen vacation house is probably worth $500,000. For years, anyone thought to be a hippie was not overly welcome, and longhairs found it difficult to get work and a pad. Youthful counterculturists discovered that Vail was not the best place to be a ski bum, particularly after local police pulled some tough drug busts. When Minger showed up for the job wearing a mustache four years ago, some locals told him that he was unacceptable. Only lately has Vail Associates, which runs the ski area, dropped its rule that bearded residents could...
...valley below the jagged Gore Range, and 15 years ago the area was nearly as empty as when the Utes roamed it in the days before the white man. It was developed by Peter Seibert, 48, a well-muscled, jovial man, who has dreamed of building a ski town ever since he was a boy in Bartlett...
...World War II, Seibert joined the 10th Mountain Division, which trained at Camp Hale, 20 miles away from what is now Vail. Fighting in the Italian Apennines, Sergeant Seibert was wounded three times in three days. He lost a kneecap, and doctors said that he would never ski again. But in two years, after extensive surgery, he was on the slopes at Aspen as a member of the ski patrol. Later he taught skiing, raced, worked as a logger and studied three years on the G.I. Bill at Lausanne's Ecole Hôtelière. All the time...
...lift passes and a half-acre lot. The lot had to be built on immediately. "That was an ingenious idea," recalls Texas Financier Dick Bass, one of the early investors. "The obligation of shareholders to build on their property gave Vail a lot more houses much sooner than other ski developments." By late 1961, Seibert and friends had $1,500,000, including $500,000 in loans from the First National Bank of Denver and the Small Business Administration. They were ready to build...
...Seibert alone, he moved up from president to chairman. As the new president, the company recruited Richard L. Peterson, a Harvard M.B.A., now 37. The two men also brought in several other business-school grads, giving Vail professional management. Last year the company grossed $6,700,000 from lifts, ski school, restaurants and land sales, and earned $812,100 after taxes. Expanding, it recently spent $4,600,000 for 2,200 acres at Beaver Creek, seven miles from the main development; the area is scheduled to open...