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Sports Industrialists

AMERICAN SKIING CFO MOVES TO VT RESORT IN RESTRUCTURING

          American Skiing Company (ASC) announced the resignation
     of CFO THOMAS RICHARDSON.  Richardson moves to ASC's
     Sugarbush, VT, affil where he will serve as Managing Dir. 
     ASC CAO CHRISTOPHER HOWARD will assume the CFO position in
     the interim.  ASC has retained the firm of HEIDRICK AND
     STRUGGLES to conduct a CFO search (ASC).  In ME, Dean Lunt
     reported that an analyst said ASC hopes to fill Richardson's
     position in 60 to 90 days.  ASC spokesperson SKIP KING said
     that Richardson's move "reflects a recognition" by him and
     the company "that his strongest skills are on the operations
     side."  Bear, Stearns & Co. analyst CHRISTINE LUMPKINS said
     that the move is "part of the growing pains for a company
     that is learning the ropes of being a public company and has
     made some miscues in managing the expectations of Wall
     Street."  Those "mistakes are reflected in the company's
     stock price," which stood at $9.125 on Monday after opening
     at $18 in its IPO.  Lumpkins: "They really need someone who
     has experience dealing with the public markets and working
     in the public arena" (PORTLAND PRESS HERALD, 8/25). 

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