Greenbrier Hopes to Revive Business
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Posted: 9:52 AM Jan 3, 2009
Greenbrier Hopes to Revive Business
CSX says The Greenbrier lost $35 million in 2008 and faces more trouble this year because market for luxury accommodations is shrinking with the slowing economy.
Reporter: The Associated Press
Email Address: news@wsaz.com
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CHARLESTON, W.Va. (AP) - The Greenbrier's owner has hired New
York investment banking giant Goldman, Sachs & Co. to help
determine what to do with the money-losing luxury resort.

Jacksonville, Fla.-based CSX Corp. says Goldman will consider
options for making The Greenbrier a viable business entity in a
statement released Friday.

Typically, hiring an investment banking firm signals a potential
sale, but CSX spokesman Gary Sease would say only that the railroad
operator is considering all options for the resort.

CSX says The Greenbrier lost $35 million in 2008 and faces more
trouble this year because market for luxury accommodations is
shrinking with the slowing economy.

Separately, CSX says it's promoted general manager Michael
Gordon to president and managing director of The Greenbrier.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


Latest Comments

Posted by: gvn on Jan 4, 2009 at 03:41 PM

If I remember correctly wasn't it Goldman, Sachs & co. that A. James Manchin (state treasurer)put in charge of the State's investment fund and they churned away a hundred million in losses and brokerage fees. The State had to take them to federal court to recover that money. I would't tust them to tell me the time of day. They (CSX) could bring in gambling and prostitution, then rename it "The Last Resort."
Posted by: rolyan on Jan 4, 2009 at 10:00 AM

I agree with CLS, Oh boo hoo. Make it where working people can afford to come there or close it down.
Posted by: Tom on Jan 4, 2009 at 09:22 AM

AWWWWWWWW,Those poor rich guys-Maybe the gov.can bail out the Greenbrier too.
$310,000,000
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