Q&A: Bill Stenger: President of Jay Peak

Vermont Business Magazine, May 01, 2003

Stenger: Stratton is owned by Intrawest. They're a wonderful company. I know the leadership and they are great people. But they paid so much for Stratton and have so much debt there that they said they were going to have to appeal to the very highest level of that market in services and real estate in the East. And they have.

I don't chose to do that for a couple of reasons. One, we're physically not in that position, and secondly, what I mentioned to you a minute ago. I don't want this sport to appeal to only the wealthiest 10 percent of the populace. I want 75 percent of the marketplace to be able to enjoy it and afford it if they want to. That's why if you were to compare our price structure, our access and our programs across the board, we're the most accessible, affordable ski area in Vermont, and we take care of our Canadian market as well as our Vermont market.

I don't criticize Stratton for its positioning. They're doing what they think is right for them, but for us, and one of my passions for the sport, is access. I want people to have access to skiing. You'll see people from all economic backgrounds at Jay.

VBM: We've obviously hit a lot of things that are important to you, but is there anything else that you feel we should discuss?

Stenger: I mentioned earlier the interrelationship of the economy The brand of Vermont is so special, and it is so important that it be maintained, that it's critical that businesspeople and others in the state understand the interrelationship that this economy has.

I'm in travel, but I'm very concerned about my education and healthcare community. Do they have what they need? I know doctors locally who are incredibly frustrated by their liability rates now. I'm in the midst of the most beautiful agricultural part of Vermont - Franklin County over that mountain and Orleans County over my shoulder. The agriculture community is struggling. I can't be in the ski business and not care about that.

IBM, magnificent company that it is, is facing some tough decisions about whether they enhance this facility in Vermont or do more in New York State or somewhere else. So I'm worrying about their needs. One of the things IBM is struggling with right now is how do they get more affordable electricity. There's a comparable site in New York at Fishkill. Their power bill at Fishkill for a comparable plant is $40 million a year less. Now how many years will tick by before the leadership at IBM says, look, if we're going to invest $1 billion or $2 billion to retool a plant, maybe we ought to be looking at enhancing the size of Fishkill and let the Vermont plant slide?

We don't want that to happen. As a member of the ski industry and a business person, I can't have blinders. The Vermont brand is an inclusive brand it's the people, it's the countryside, it's the environment, and it's the commerce. It's a very unique, interwoven balance. Most people don't think of education and healthcare as industries, but if you take all the primary schools and secondary schools and high schools, the 23 colleges and universities and all the hospitals in Vermont, you have one of the state's largest employers.