About the Canyons, effectively, they should't consider the cost of investments, but just the fact if they're making money actually with it... <BR> <BR>if the operating costs are not so bad and the area is profitable even though not enough to pay the investments, that's not so bad. But with all the super lifts they built, it's hard to believe they're able to making $$, just with the maintenance of the equipments... with so few skiers. <BR> <BR>About Mammoth, I've some difficuly to understand it can be one of the most popular ski area in US, even though it's sitten over a gigantic bomb that almost exploded in the late 70s (or is it early 80s ?) Dave McCoy probably had a deal for the resort, with the additional risk to have big $$ on an active volcano (especially as 1986 was not so far of the volcanic event). May be it was another reason to not invest a huge amount to join the mountain with Sierra. <BR> <BR> <BR>(from the University of North Dakota volcano website) <BR> <BR><I>Mammoth Mountain (11,050 feet), is a composite volcano made up of about 12 rhyodacite and quartz latite domes extruded along the southwest rim of Long Valley caldera from 200,000 to 50,000 years ago. Mammoth Mountain is one of the eruptive centers that developed late in the evolutionary cycle of the Long Valley caldera complex</I> <BR> <BR><I>A sequence of earthquakes which began in 1978 generated much interest in Long Valley caldera and the Mono-Inyo Craters volcanic field and the possibility of an eruption. Earthquake activity culminated in mid-May 1980 when four magnitude 6 events were recorded in a 2-day period. Volcanologists interpreted the earthquakes, accompanying ground deformation, and an increase in activity at fumaroles as an indication of magma movement beneath the caldera. The magma did not rise to the surface. The activity prompted the U.S. Geological Survey to publish a study on the potential hazards of future volcanic eruptions (Miller and others, 1982). Volcanic unrest continues at Long Valley. In 1994, geologists investigated an area of 75 acres (30 hectare) that contained dying forest. They studied the gas in the soil and found carbon dioxide concentrations of 30-96%. Additional details are provided on a USGS homepage. The Survey continues to monitor the caldera and provides current information on the Long Valley homepage.</I>