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Taunya Fagan Bozeman Real Estate: Montana Homes - Land - Ranches

Dazzling and Refurbished - Ellen Theatre Hosts "A Christmas Carol" - Bozeman, Montana Holiday Events

Refurbished and dazzling, The Ellen Theatre on Main Street, in Downtown Bozeman, Montana will host the Charles Dickens story, "A Christmas Carol," from December 7 through December 23, 2008. Photo Frank Simpson Poster - Permission Willie Eide of the Ellen Theatre

Presented by Montana Theatre Works, the play begins Friday, December 5, 2008 at 7:00 PM until 8:30 PM. This classic Christmas story, with 38 characters, is directed by Bozeman's local theatre veteran, Todd Hoberecht. This a highly recommended play to see!

Bozeman's Ellen Theatre opened for the first time on December 1, 1919, and has played its share of parts, including that of movie house, strip tease venue, vaudeville house, wedding venue, high school playhouse, and now returning as Montana Theatre Works' playhouse.

For Ellen Theatre Information and Showtimes, click the link or call 406-570-6199.

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Big Sky, Montana: Short-Term Financing at Yellowstone Club Through Spring 2009

From Moonlight Basin to the Yellowstone Club, most of the Big Sky, Montana ski resort concerns have been fixed for the winter and it's snowing here in southwest Montana. The skis are sharp, the bodies are willing, and 2-4 inches of snow are forecast for this evening; Big Sky's skiing and snowboarding season is here.

Even the Yellowstone Club is back in business, which means work through the winter for its many employees. Because of a Loan by Boston's CrossHarbor Capital of $20 Million, YC Ridgethe Yellowstone Club in Big Sky, Montana will survive winter 2008-2009. Bankruptcy Judge for the District of Montana, Ralph B. Kirscher, Esquire, approved short-term financing Wed., November 27, 2008 that will allow the exclusive Yellowstone Club, Big Sky, MT, to keep its doors open through the Big Sky, Montana 2008-2009 ski season.

Judge Kirscher, said he will let CrossHarbor Capital of Boston, Massachusetts lend the Yellowstone Mountain Club $20 million at 15% interest, enough to pay its 600 or so employees through the winter, all of which means the Big Sky economy should remain busy and fairly vibrant through Spring 2009. The Yellowstone Club's debts hover around $400 million, with about 77% of that owed to a Credit Suisse-managed investor group.

The Butte, Montana judge was unconcerned, to the chagrin of Credit Suisse, that the ruling would give Cross Harbor additional control over the Club, which is not what Credit Suisse was hoping for. Judge Kirscher wrote that even if the true value of the Yellowstone Club's "assets is only half" of what it claims, "Credit Suisse is still over-secured."

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Taunya Fagan Big Sky Homes - Big Sky Montana Real Estate

Geometric Strategy at The Yellowstone Club, Big Sky, Montana

Two financial entities are battling for control of Big Sky, Montana's Yellowstone Club, which boasts memberships by some of the world's wealthiest...

Both Credit Suisse and CrossHarbor Capital with financial help offered by some Club members, are battling for control of Edra Blixseth's bankrupt Big Sky, Montana Yellowstone Mountain Club:

Credit Suisse, failing in its attempt to setup a seven-figure loan plan, argues that because it's owed over $300M by the Club it should maintain control and is trying to block a financing deal from Boston-based CrossHarbor Capital, Yellowstone Club Warren Miller Lodgewhich has offered $20 million to maintain the club through the winter skiing and snowboarding season. Some Club members, siding with CrossHarbor Capital and Sam Byrne, showed up for the Tuesday, November 25th court proceedings, agreeing to inject an additional $5 million into Cross Harbor Capital's plan.

Credit Suisse, with substantially more owed it and carrying more weight into the court room as primary creditor, is in a parlous state because if the judge sides with CrossHarbor's plan, Credit Suisse will lose its primary creditor status, which means it wouldn't be paid first, if and when the Yellowstone Club is solvent again.

In a sort of "geometric strategy," Credit Suisse offered to continue financing the club into the first week of
December 2008, hoping it may be able to scrape up enough cash to gain control, possibly close, and sell the Yellowstone Club...

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Yellowstone Club Real Estate - Yellowstone Club Homes

Yellowstone Club Files Chapter 11 Bankruptcy - Big Sky Montana

The Yellowstone Club, filed for bankruptcy Monday, November 10, 2008 after its inability to secure financing arrangements with its creditors and bondholders.

Yellowstone Club spokesman, Bill Keegan said the Yellowstone Club filed Chapter 11 for protection in Montana federal bankruptcy court to protect the Club and its members.

Two months ago the Club, as it is called in the area, had announced it would begin new growth in conjunction with Arizona-based Discovery Land Company, but the recent national financial collapse forestalled this method.

Ensconced in Montana's Madison Range mountains, between the Gallatin and Madison Rivers, the gated, 13,400 acre Montana ski and golf resort opened in 1999, and holds memberships for former cycling great, Greg Lemond, Microsoft co-founder, Bill Gates, and former Vice President, Dan Quayle.

"We felt this step was necessary to address short-term liquidity constraints and preserve Yellowstone Club's long-term future," Yellowstone Club CEO, Edra Blixseth said.

Taunya Fagan Montana Real Estate News

Montana Election Results 2008 - Montana's 2008 Elections

In Tuesday's national elections, Montana's two senators, Max Baucus and Jon Tester along with its one Representative, Denny Rehberg, were re-elected.

According to the State of Montana official election results on the state website, the Democratic party extended its power base; it now controls offices of the governor, the secretary of state, the attorney general, the superintendent of public instruction, and the state auditor. You have to go way back to 1848 for similar, lop-sided, one-party power in Montana.

Regardless, the Montana Democratic count in the legislature diminished somewhat due to Republicans winning a majority of the seats vacated due to term-limits. The House looks like it will come out at a balance of 50-50, and the Senate looks as though it will be 27 Republicans and 23 Democrats.

According to the Council of State Governments: Two of the three ballot measures, Ballot Issue I-155 and LR-118, passed; the third, C-44 lost:

  1. C-44, which lost, would have allowed "up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock and provides an immediate effective date."
  2. I-155, which won Will "allow up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock and provides
    an immediate effective date."
  3. LR-188, which won, Will now "provide for the continuation of a 6-mill levy to support the state university system. The current 6 mill levy is set to expire in January 2009. This would allow it to effectively continue through January 2019."

It's interesting to note that Montana's Land Board, made up of the aforementioned offices, makes land decisions on all state logging and state oil leases, and Montana's educational system, among other agencies, counts on the proceeds from leasing state land to logging, oil, farming, ranching, and other private operations.

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Taunya Fagan Montana Real Estate - Montana Ranches