{"id":33761,"date":"2013-02-05T10:09:26","date_gmt":"2013-02-05T15:09:26","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=33761"},"modified":"2013-02-05T10:09:26","modified_gmt":"2013-02-05T15:09:26","slug":"hedge-fund-mogul-clashes-with-swiss-over-ski-slopes","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2013\/hedge-fund-mogul-clashes-with-swiss-over-ski-slopes.html","title":{"rendered":"Hedge Fund Mogul Clashes With Swiss Over Ski Slopes"},"content":{"rendered":"<p>BusinessWeek &#8211; Since hotelier Tobias Zurbriggen can remember, the business of running Saas-Fee has been a local affair. Now, the Swiss ski resort neighboring the Matterhorn is feeling the heat from a New York-based financier.<\/p>\n<p>Edmond Offermann, a nuclear scientist turned millionaire working for hedge fund Renaissance Technologies LLC, invested 15 million Swiss francs ($16.4 million) in 2010 to revive Saas- Fee\u2019s struggling ski-lift company.<\/p>\n<p>\u201cIt\u2019s like a hobby, which completely got out of control,\u201d Offermann, 53, said in an interview from Long Island, New York. He wants to shake things up by managing hotels and the ski-lift operator in one company controlled by a single chief executive.<\/p>\n<p>The franc\u2019s 30 percent appreciation against the euro during the past five years is making his project more difficult as skiers look for better deals in euro-zone countries. Offermann is now seeking funds from international investors to finance new lift projects and connect Saas-Fee to Zermatt to make the valley less vulnerable to seasonal swings and competition from neighboring Austria, Italy and France.<\/p>\n<p><a href=\"http:\/\/www.businessweek.com\/news\/2013-02-04\/hedge-fund-mogul-clashes-with-swiss-villagers-over-ski-slopes\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BusinessWeek &#8211; Since hotelier Tobias Zurbriggen can remember, the business of running Saas-Fee has been a local affair. Now, the Swiss ski resort neighboring the Matterhorn is feeling the heat from a New York-based financier. Edmond Offermann, a nuclear scientist [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33761","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=33761"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33761\/revisions"}],"predecessor-version":[{"id":33770,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33761\/revisions\/33770"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=33761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=33761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=33761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}