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Hertz Places Lien on Saddleback
Hertz Places Lien on Saddleback
Company claims it was not paid for 2015 equipment rental.
Wednesday, January 6, 2016, NewEnglandSkiIndustry.com
Hertz Equipment Rental Corp. placed a lien on Saddleback on Monday.

According to the document, Saddleback, Incorporated rented equipment from the Scarborough, Maine Hertz store from June 15, 2015 through September 24, 2015. Hertz claims it is owed $9,788.89, not including interest and penalties.

On December 18, Saddleback announced an impending sale and late January opening day. According to a Portland Press Herald article earlier this week, Saddleback remains confident in this timeline. Season passholders have been offered refunds or bonus credits due to the area missing its traditional mid-December opening.

Background
The latest Saddleback saga started on July 20, 2015, when the Berry family announced they had two weeks to place an order for a replacement for the Rangeley double chairlift, or else it would close the ski area. The family was unable to obtain financing.

Heirs to a large insurance company, Bill and Irene Berry purchased the Rangeley ski area and thousands of acres surrounding it for a reported $8 million in 2003, following an announcement from prior owner Donald Breen that it would close. Two new quad chairlifts were installed in subsequent years in conjunction with a major base lodge expansion. The Oquossoc Cove Marina was added to the fold in 2009.

After obtaining is B.S. in civil engineering from Lehigh University in 1955, M.S.T. in biology-geology from Colby College in 1966, and Ph.D. in Geology from the University of Kansas in 1970, Archie "Bill" Berry Jr. joined the faculty of the University of Maine at Farmington. A longtime Saddleback skier, Berry purchased a condo near the ski area in the early 1990s and retired from UMF in 1996. Berry's son Mark worked at Sugarloaf and ran Titcomb Mountain ski area (to which Bill Berry made significant contributions).

In 1971, the U.S. Investment Corporation was founded, which would include Mount Vernon Fire Insurance Company and US Underwriters Insurance Company. On August 8, 2000, Berkshire Hathaway acquired the U.S. Investment Corporation for an estimated $160 million in stock, mainly transferred to the extended Berry family.

On July 28, 2003, Saddleback, Inc. and Saddleback Land & Timber Corp. were incorporated in the State of Maine. Bill Berry, his wife Irene Berry, and their seven children soon took ownership of the 8,000 acre Saddleback tract via their corporations.

Since 2005, Saddleback has entered into multi-million dollar financing agreements with UnitedKinfield Bank, Camden National Bank, Skowhegan Savings Bank (via Finance Authority of Maine), and Coastal Enterprises Inc.

The Berry family placed the ski area on the market in 2012.

In recent years, members of the Berry family have loaned money to both corporations.

In May 2014, the Berrys sold 1,750 acres of land to generate funds.

Rangeley Double (2012)
Rangeley Double (2012)

Saddleback in 2014




Related Stories on NewEnglandSkiIndustry.com
  • Eaton Mountain to Reopen, Saddleback to Remain Closed - February 9, 2017
  • Opening Day Yet to Arrive at Multiple Ski Areas - January 18, 2017
  • Saddleback Mountain Community Resort Announces 30% of Funds Raised Thus Far - November 30, 2016
  • Verbal Agreement Reached to Sell Saddleback - October 27, 2016
  • REPORT: Effort Underway to Operate Saddleback as Cooperative Entity - August 17, 2016


  • More Information
  • Saddleback Mountain Resort on NewEnglandSkiIndustry.com
  • Saddleback Mountain Resort on NewEnglandSkiHistory.com


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