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The Yellowstone Club, also Yellowstone Ski Resort, is a private residential club, ski resort, and golf resort located in the state of Montana, USA. The Rocky Mountain ski and golf club is located in eastern Madison County, just west of Big Sky, Montana, south of Bozeman and northwest of Yellowstone National Park. ==History== Entrepreneur Tim Blixseth purchased approximately 100,000 acres of timberland, partly in purchases from Plum Creek Timber and engaged in swaps of land with the U.S. Forest Service and the Federal Government ("Gallatin Land Exchanges"). 〔(Gallatin Land Exchanges )〕 〔("Here's how Blixseth did it" ) By Scott McMillion, Bozeman Daily Chronicle, Jun 12, 2013〕 This land swap process was enabled by two specialized acts of Congress in the 1990s.〔("Paradise Lost" ) by William D. Cohan, Fortune Magazine, Feb 5, 2008; Laws: (i) S.489 - Gallatin Range Consolidation and Protection Act of 1993 and (ii) Gallatin Land Consolidation Act of 1998 〕 Blixseth ultimately ended up with a large amount of developable land adjacent to the Big Sky Resort in Montana. 〔 The Yellowstone Club private ski resort was developed by Blixseth and used as collateral for a $375 million syndicated loan where the proceeds were used for other purposes, including an effort to build an exclusive luxury vacation club based on acquiring resort properties around the world. This venture failed, Mr. Blixseth and his wife divorced and the Yellowstone Club entered bankruptcy in November 2008. 〔 During its peak season, almost 650 people are employed at the club.〔(Bozeman Daily Chronicle: Trickle-down economics )〕 The club was featured on CNBC's lifestyle show ''High Net Worth'' with Tyler Mathisen. Cyclist Greg LeMond, an early investor and homeowner/member, sued the club in 2006, saying club founder Tim Blixseth and his former wife Edra Denise (Crocker) Blixseth had borrowed $375 million from Credit Suisse Group and took $209 million for themselves as a dividend, jilting him and other investors. The suit was settled in 2008 for $39.5 million.〔(Los Angeles Times/Bloomberg News: Cash stops flowing at Yellowstone )〕 Ms. Blixseth eventually agreed to pay Mr. LeMond and others a $21.5 million settlement; she paid only $8 million of that amount and Mr. LeMond and others joined the group of her creditors in her personal bankruptcy.〔("Checkmate at the Yellowstone Club" ) by Amy Wallace, ''The New York Times'', June 13, 2009 (p. BU1 6/14/09 NY ed.). Retrieved 6/14/09.〕 Other members identified in, or cited in, the ''Times'' report were Burt Sugarman, a Beverly Hills businessman, and his wife, the ''Entertainment Tonight'' host Mary Hart; Steve Burke, the chief operating officer of Comcast; Bill Frist, the former Senate majority leader; Todd Thomson, the former head of Citigroup’s private banking unit; Robert Greenhill, founder of the investment bank Greenhill & Company; Annika Sörenstam, the Swedish golf star; Frank McCourt, the former owner of the Los Angeles Dodgers; Jim Davidson, a founder of Silver Lake Partners, a private equity firm in Menlo Park (CA); Brian Klein, a former Goldman Sachs vice president who now runs an investment management firm in Seattle; Peter Chernin of the News Corporation; Barry Sternlicht, hotelier and CEO of Starwood Capital Group; and Gary Riesche], a venture capitalist with Qiming Venture Partners. Jack Kemp, the late U.S. politician, was on the club’s honorary board of directors with Mr. Quayle, among others. The ''Times'' said that as of June 2009, Yellowstone Club had about 250 members. It said membership cost a minimum of $250,000 to join, plus the cost of a $5 million to $35 million mountainside home, plus annual dues of about $20,000, according to members.〔 The Yellowstone Club is one of several developments that has been the subject of litigation between investors and Credit Suisse. The investors have accused Credit Suisse of fraudulently inflating the value of the developments in order to generate higher fees for itself. The core of the allegations centered on a new appraisal methodology conceived of by Credit Suisse executive David Miller, who in internal emails is referred to as Credit Suisse’s Dr. Frankenstein. The Swiss bank has repeatedly denied the allegations. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「The Yellowstone Club, also Yellowstone Ski Resort, is a private residential club, ski resort, and golf resort located in the state of Montana, USA. The Rocky Mountain ski and golf club is located in eastern Madison County, just west of Big Sky, Montana, south of Bozeman and northwest of Yellowstone National Park. ==History==Entrepreneur Tim Blixseth purchased approximately 100,000 acres of timberland, partly in purchases from Plum Creek Timber and engaged in swaps of land with the U.S. Forest Service and the Federal Government ("Gallatin Land Exchanges"). (Gallatin Land Exchanges ) ("Here's how Blixseth did it" ) By Scott McMillion, Bozeman Daily Chronicle, Jun 12, 2013 This land swap process was enabled by two specialized acts of Congress in the 1990s.("Paradise Lost" ) by William D. Cohan, Fortune Magazine, Feb 5, 2008; Laws: (i) S.489 - Gallatin Range Consolidation and Protection Act of 1993 and (ii) Gallatin Land Consolidation Act of 1998 Blixseth ultimately ended up with a large amount of developable land adjacent to the Big Sky Resort in Montana. The Yellowstone Club private ski resort was developed by Blixseth and used as collateral for a $375 million syndicated loan where the proceeds were used for other purposes, including an effort to build an exclusive luxury vacation club based on acquiring resort properties around the world. This venture failed, Mr. Blixseth and his wife divorced and the Yellowstone Club entered bankruptcy in November 2008. During its peak season, almost 650 people are employed at the club.(Bozeman Daily Chronicle: Trickle-down economics )The club was featured on CNBC's lifestyle show ''High Net Worth'' with Tyler Mathisen.Cyclist Greg LeMond, an early investor and homeowner/member, sued the club in 2006, saying club founder Tim Blixseth and his former wife Edra Denise (Crocker) Blixseth had borrowed $375 million from Credit Suisse Group and took $209 million for themselves as a dividend, jilting him and other investors. The suit was settled in 2008 for $39.5 million.(Los Angeles Times/Bloomberg News: Cash stops flowing at Yellowstone ) Ms. Blixseth eventually agreed to pay Mr. LeMond and others a $21.5 million settlement; she paid only $8 million of that amount and Mr. LeMond and others joined the group of her creditors in her personal bankruptcy.("Checkmate at the Yellowstone Club" ) by Amy Wallace, ''The New York Times'', June 13, 2009 (p. BU1 6/14/09 NY ed.). Retrieved 6/14/09.Other members identified in, or cited in, the ''Times'' report were Burt Sugarman, a Beverly Hills businessman, and his wife, the ''Entertainment Tonight'' host Mary Hart; Steve Burke, the chief operating officer of Comcast; Bill Frist, the former Senate majority leader; Todd Thomson, the former head of Citigroup’s private banking unit; Robert Greenhill, founder of the investment bank Greenhill & Company; Annika Sörenstam, the Swedish golf star; Frank McCourt, the former owner of the Los Angeles Dodgers; Jim Davidson, a founder of Silver Lake Partners, a private equity firm in Menlo Park (CA); Brian Klein, a former Goldman Sachs vice president who now runs an investment management firm in Seattle; Peter Chernin of the News Corporation; Barry Sternlicht, hotelier and CEO of Starwood Capital Group; and Gary Riesche], a venture capitalist with Qiming Venture Partners. Jack Kemp, the late U.S. politician, was on the club’s honorary board of directors with Mr. Quayle, among others.The ''Times'' said that as of June 2009, Yellowstone Club had about 250 members. It said membership cost a minimum of $250,000 to join, plus the cost of a $5 million to $35 million mountainside home, plus annual dues of about $20,000, according to members.The Yellowstone Club is one of several developments that has been the subject of litigation between investors and Credit Suisse. The investors have accused Credit Suisse of fraudulently inflating the value of the developments in order to generate higher fees for itself. The core of the allegations centered on a new appraisal methodology conceived of by Credit Suisse executive David Miller, who in internal emails is referred to as Credit Suisse’s Dr. Frankenstein. The Swiss bank has repeatedly denied the allegations.」の詳細全文を読む スポンサード リンク
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