This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Resort Closely Tied To NH Primary Lies Fallow

By RIK STEVENS

CONCORD, N.H. (AP) a¿¿ Two years after the sale of the New Hampshire resort where the nation's first presidential votes were traditionally cast, no guests ply the halls.

The doors of the Balsams Grand Resort Hotel in Dixville Notch remain shut, and a few buildings have fallen to demolition crews. None of the 200 to 300 jobs that disappeared when it closed in September 2010 have come back.

Then there is the silence. The men who bought the hotel for $2.3 million, Dan Dagesse and Dan Hebert, are looking for more investors, but communication with local business leaders has trailed off.

The Balsams was one of the largest employers in the North Country, a region that has lost many manufacturing jobs in recent years. Coos County, where the resort sits, still has a 5.6 percent unemployment rate, highest in the state.

"The fact that it shut down a couple years ago was devastating," said Jonathan Brown, president of the North Country Chamber of Commerce. "It's a symbol of who we are. If it reopens in the near future, it would have a huge impact on how people are feeling about the economy in the area."

The resort, about 20 miles from the Canadian border, started as an inn in 1861 and was sold in 1895 to industrialist Henry Hale, who renamed it The Balsams. In 1918, he doubled the capacity to 400 guests. It features Old World elegance, fine dining and outdoor activities, including golf, boating and hiking. In the winter, it is popular with skiers and snowmobilers.

Brown said his group is hungry for any information about the hotel, where voters in in the wood-paneled Ballot Room were long the first in the country to choose candidates, both in the New Hampshire primary and the general election.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,318.01 +52.02 0.30%
S&P 500 2,012.17 +0.81 0.04%
NASDAQ 4,579.5520 -13.8730 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs