Category: Big Bear Businesses

EBBIE Award for Excellence in Business

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Bear Mountain Resorts Shareholders Approve Sale to Mammoth Mountain

Big Bear, CA, November 3, 2014 – With the final shareholder votes tallied, the Snow Summit Ski Corporation, a long standing icon of the Big Bear Valley, will change hands perhaps later this month.The official count of 68% in favor and 11% against the sale was announced at the annual stockholders meeting. Thus the sale of Snow Summit and Bear Mountain to Mammoth Mountain was ratified. The largest concern expressed at the November 2, 2014 stockholders meeting seemed to be access to free lift tickets and parking privileges. President and CEO Dick Kun stated that that it was a good deal for the shareholders who will receive in the neighborhood of $600.00 per share, but also draws to a close any future stockholder privileges. He further went on to explain that their aging management team along with winter resort industry consolidation was what helped lead them to the sale decision. In addition, Mr. Kun, the major stockholder, told the audience that during the negotiation process, “they never lost sight of shareholder concerns, and getting the highest possible price per share or return on investment.” In order to complete this transaction, the Forest Service must issue a new use permit, but according to Brent Tregaskis, newly named area General Manager, “this should not be an issue as Mammoth has the highest reputation as a resort operator.” According to others on...

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City Council Reaffirms Restrictions on Large Weddings at Alpenhorn B & B

Big Bear Lake, CA, October 28, 2014 – The Big Bear Lake City Council was asked to consider an appeal from the Alpenhorn Bed and Breakfast regarding large weddings conducted on their grounds. Earlier this month, the city’s planning commission approved a conditional use permit allowing weddings, but limited the size to 49 guests and in addition required the construction of an ADA compliant bathroom on the grounds. Linda Carpenter, owner of Alpenhorn, appealed the decision stating that limiting the number of guests will hurt her business. Her attorney added, “the restrictions are not needed and are overreaching”. The council chambers were filled with neighbors who objected to noise, parking issues, and party goers associated with a wedding business conducted in their neighborhood. After hours of testimony and discussion, the council voted 5 to 0 to uphold the planning commission’s original decision reaffirming the restrictions. Alpenhorn Bed and Breakfast, which is located at 601 Knight, near the Middle School in Big Bear Lake, will have 90 days to comply with the Conditional Use Permit in order to continue with weddings at that location. In addition, the council approved being a host city for Special Olympics athletes participating in the 2015 World Games scheduled for next summer. Also, conceptual approval was given for a Stanfield Cutoff parking lot which would provide the needed space for a bike lane on the...

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Busy Labor Day Weekend in the Valley

Big Bear, CA, Sept. 4, 2014 – As the unofficial end of the summer season, Labor Day Weekend and all the visitors it brings to the valley is something local businesses in Big Bear look forward to every year. Judging by the never ending line of traffic heading west from Big Bear City towards Big Bear Lake and the checkout lines at the grocery store, there were a lot of people enjoying what our valley has to offer. According to the MWD, many of those visitors were out on the lake. On Saturday afternoon there were 545 boats on the water and on Sunday there were 352. This is double the number of boats out on a typical Saturday or Sunday. There were also 571 boat launches from the two public ramps. These numbers are similar to 2013, however last year Sunday was the busy day. From an informal survey of several restaurants both in Big Bear Lake and Big Bear City, most said it was their busiest weekend of the summer. Also, the private home rental businesses reported over 95%...

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First Mountain/First National Deal Falls Through

Big Bear Lake, CA, July 17, 2014 — First Mountain Bank announced today the termination of the definitive agreement with First National Bank of Southern California that provided for the acquisition of First Mountain Bank by First National Bank of Southern California. A condition of the transaction required First National Bank to obtain regulatory approval of the agreement. Unfortunately, First National Bank’s regulator, the Office of the Comptroller of the Currency, would not approve the acquisition under the terms and conditions of the agreement. Also, the modifications required by the Office of the Comptroller of the Currency would not have provided the benefit to the First Mountain Bank shareholders and community as negotiated in the definitive agreement. Jack Briner, Chairman and CEO of First Mountain Bank, stated, “While we regret that the regulators were unwilling to approve this transaction as agreed to by the parties, First Mountain Bank is moving on and looking forward to continuing its operations from its offices in Big Bear Lake, Running Springs and Lucerne Valley. First Mountain Bank posted a profitable first half of 2014 and is currently welcoming new customers and SBA borrowers. As of June 30, 2014, the Bank had $134.8 million in assets, $88.5 million in loans, and $292 thousand in net income for the first six months of 2014.” First Mountain Bank is expected within a few days to issue...

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