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Show Page eleven The National Enterprise , July 14, 1976 Vail Associates Earnings Up 28 THE NATIONAL I Vail Associates, Inc., (OTC8.50, 9.00) operator of a Colorado mountain resort, announced a sixth consecutive year of growth in net income and earnings per share. VAIL Richard L. Peterson, president, said that net income for the recently completed fiscal year ending April 30, 1976, was $1,746,000, compared to $1,291,000 for the prior year, with earnings per share (on a fully diluted basis) of $1.28. This represents a 28 increase over last year's results of $1.00 per share (fully diluted). Peterson credited in- steps in improving the Companys financial structure. The two financings replace short term bank debt at variable interest rates with longer term debt at fixed interest rates. He added that, in anticipation of continuing visitor demand, the Company has underway a $2.3 million capital expenditure program on Vail Mountain, including the construction of new' trails, expansion of Vails lift capacities and the construction of a snack food facility in the Northeast Bowl. Peterson also said that Vail Associates anticipated additional capital expenditures for design modifications on both Gondolas as a result of the recently published findings of the Colorado Pas- creases in mountain visitor attendance, as well as mountain-related income as the primary reasons for this year's results. He also noted that strengthened demand in the Vail real estate market, notsenger Tramway Safety ably the success of the com- Board, which cites major panys Northwoods develop- design deficiencies as a pos-11 ment project in Vail Village, sible cause of the Gondola. enabled the Vail Associates accident on March 26, 1976. Real Estate Department to Vail Associates voluntarily contribute significantly to this closed Gondola I following the accident, pending findings of fiscal year's results. These the investigation, since it was Said Peterson, results, combined with several of similar manufacture and financings cently, have completed enabled re- Vail Associates to significantly strengthen its financial position during the past 12 months." He cited the issuance of $3.5 million in Sports design. In closing, Peterson said, "We arc confident that the growing demand for Colorado skiing, the maturing nature of the Companys operations and its financial posture evidence excellent prospects for the coming year, despite the substantial expenditures anticipated for gondola design Facility Revenue Bonds in December, 1975, and the sale of a $1.3 million mortgage on the LionsHcad gondola terminal building and office com- modifications. plex in April, 1976, as major dont want to overdo this thing but it keeps bothering me. We dont have 200th birthdays every day and as Fate Now 1 would have it the one that we did have came on a Sunday. Im not the type of person who gets all worked up long in advance. But when a big event like a world series or a super bowl or a bicentenial finally hits, Im usually ready. So, by the 3rd of July I was pretty excited. You know, the rks, whole hotdogs, talking about what a great if you country we live in, etc. The only problem is that we happened to live in Utah nothing happened. I was told that are a religious people who keep the Sabbath. All of us did whetherwe liked it or not. The Fourth of July in Utah was celebrated on the 5th! in 1 once knew a girl in school who had a birthday January. Too close to Christmas she said so she celebrated it during the summer. Seemed to make sense. The only in problem of course was that it really wasnt her birthday June. And it wasnt the 200th birthday of the great country on whole July 6th. So there I was watching Walter Cronkite. The nothing! nation having a heck of a time and in Utah certain to frustration people around Ive mentioned my here. One answer I get is Why didnt you go out of town if I have to? This is you wanted to celebrate? Well why should part of the United States isnt it? of the state wanted to keep the I dont care if 99 Sabbath. The other 1 should have got a few Roman candles. The holiday across this nation was on Sunday. The have been holiday was the 4th of July. It certainly should celebrated on that day. I would have been delighted had we done it all again on the 5th. But we certainly should have had something on the 4th! thing-firewo- What is it about people that makes them think that their way has to be everyone elses way? How many times have you heard people say that this is a Christian country? Ive always wondered how an American Jew likes hearing it. Why cant we see that one of the revolutionary ideas 200 years ago was that churches and government were separate. We arent a Christian country. We are a country with a lot of Christians living in it. Dont ask me why our coins say that In God We Trust. Or that' the pledge of allegiance declares that we are one nation under God. Frankly. I think it would be more in keeping with my understanding of the United States to take God off our money and out of our pledges. But its not a big deal and I can live with both. Forcing young children to deliver a prayer in school is, on the other hand, deeply offensive. Prayer is a private thing in my opinion. The local school officials have no business telling your child what and when to pray. Why is it so hard to let the other guy do his thing if it doesnt hurt you. Had this area provided fireworks for my family and many of my friends would that have forced anyone to not keep the Sabbath? Surely the city fathers could have found someone who The Prince Column by John Prince could work on Sunday in good conscience. We dont ask the Sabbath keepers to move church to Monday just because the super bowl is on. Hell no! We say look go to church if you want or stay home and watch football. Now that I think about it, why didnt they move church to Monday. After all. we have plenty of Sundays in a year. How many 200th birthdays do we have? Partner, Prince, Linglieinrich & Greer. |