This company had a hell of a run in the last 5 years or so, some of it resulting from the addition to the S&P 500 index and the resulting forced buying. A conseqence of this stock price movement is employee enrichment through stock options. Although I'm not by any means familiar with the company's compensation structure I assume that many mid to high level employees were granted generous stock options. Although it's not wise to count your chickens before they hatch per se, it's certainly human nature to do so. Consequently, these folks are seeing their Vail condos disappear before their eyes as the stock price declines. At today's price options granted in 2004 and before are in the money, afterward mostly not.
This is entirely speculation but I wonder if the management will engage in some sort of short term price manipulation to keep the stock price artificially high through the next expiration dates (whenever that is)? This would be at the expense of longer term financial stability.
Sorry to be the conspiracy theorist here, just thinking out loud.