The Alps Melt and a Swiss Ski Resort Goes for $1

The New York Times has the skinny on the fate of small Alpine ski stations in the face of melting snows brought about by global warming. Recently, Bruno Prior, a British entrepreneur, snatched up the ski resort of Ernen for one Swiss franc. After suffering heavy losses (and no snow), the Ernen ski-lift company was forced to shut down the four ski lifts. In an act of desperation, Ernen decided to give away the lifts to the investor who could best assist the village. With plans to invest as much as $45 million to build new hotels and lifts, Prior saved the small village from an uncertain fate.