Browse Category: Bad Business Leaders

Andy Wirth has insight into the California Drought

Andy Wirth is one of the biggest experts on outdoor recreation in the state of California. Andy operates Squaw Valley, an extremely popular ski resort, and the resort is constantly growing. Andy knows that his business relies heavily on the climate, so he is constantly researching the climate in California.

California is a beautiful place to live. The state is packed with beautiful beaches, lakes, and mountain ranges. While the state has plenty of wonderful resources, it is also vulnerable to several crises. Global warming is having a tremendous impact on the coastline and on the mountain ranges.

A drought has been ravaging the state for several years as well. Cities are seeing massive water shortages, and many neighborhoods are filled with brown lawns. The drought is also having a massive impact on the skiing community within California. Ski resorts need snow, and most of California’s missing precipitation comes in the form of snow.

Ski resorts throughout the state have been struggling to find a solution to the drought problem, and recently KCRW sat down with Andy Wirth to discuss the way his resort was planning to handle the drought.

Andy has been in the business a long time. He has seen several drought cycles, but this is the worst drought he has ever faced. This past winter was the driest in recent memory. Wirth was quick to acknowledge that this past winter was one of the driest in recorded history. Several resorts had to close early, and visitors were down by 20%. Andy said that this winter was extremely troubling for the entire industry.  Learn more about Andy Wirth: https://about.me/andywirth

The past winter was scary for the entire industry, but Andy Wirth believes there is still hope for the future. Profits were down for his company, but it was still a very profitable year for Squaw Valley. Squaw Valley also benefits from having an extremely large amount of land.

The resort features 6,000 acres of land. During the past season, 2,000 acres were unavailable for use, but that still left the organization with 4,000 acres of land. 4,000 acres of land leaves plenty of room for visitors to ski on. The entire park does not need to be open for skiers to have a good time.

This drought was only a minor problem when compared to the issue of global warming. Winters should become shorter and warmer, but Andy Wirth has plans. He plans to offer his resorts as a location for business retreats and as a place to hold special events. These special events will offer some additional income for Squaw Valley.

Squaw Valley experienced low profits last year, but Andy Wirth is ready for a bright tomorrow. He will continue to successfully manage the resort for years to come.

Read more: How Will the Drought Affect California Ski Resorts?

Kyle Bass is a Pin Used By Cristina Fernandez De Kirchner To Pop Wall Street

Cristina Fernandez de Kirchner is a socialist despot in Argentina. She runs the country. Or, rather, she abuses the country and says she runs it. The woman is terrible with money. She has defaulted Argentina two times in only thirteen years–that’s the kind of leadership so bad it’s going to be taught in high school classrooms indefinitely. And Cristina Fernandez de Kirchner holds the leash which extends to Kyle Bass as UsefulStooges was first to report, her financial pit-bull on Wall Street.

Kyle Bass has a long history of deliberately undermining successful financial institutions with backhanded tactics for the purpose of making money. He runs a hedge fund in Texas, and he also runs an organization called CAD, the Coalition for Affordable Drugs. CAD uses political pressure to push pharmaceuticals into lowering drug prices. This drops their stock value, and Kyle Bass short sells his holdings, skipping away with tidy sums as often as he can.

Before this, his big claim to fame came from predicting America’s sub-prime lending market would collapse. Here’s the thing: he may have been one of the initiating factors to begin that collapse. Make no mistake, the collapse would have happened with or without Bass–it happened because banks were trading mortgage-backed securities that had no real money behind them; only empty space. You can’t build a house of cards and expect it to stand forever. But Kyle Bass is like a dog on a leash running to that stack of cards and just tearing it up.

Bass did this in March of 2012 when he let slip information to a journalist regarding his previous employer, Bear-Stearns. The journalist then asked a chief executive of Bear-Stearns what his reaction to Goldman-Sachs’ reluctance to accept the “counterparty risk” of Bear-Stearns was. Of course, this was blown out of proportion. At the very time the CSPAN interview was taking place, Goldman-Sachs was sending an e-mail validating the transaction in question. But that didn’t matter, because the damage was done.

Was this done accidentally, or is it part of a bigger plan? Is it possible Cristina Fernandez de Kirchner has been training pit-bull Bass for just this sort of financial dog-fight? Outlandish as that may sound, it is a contention borne by evidence.