(The Associated Press circulated the following on January 2.)
JACKSONVILLE, Fla. — The Greenbrier’s owner has hired New York investment banking giant Goldman Sachs & Co. to help determine what to do with the money-losing luxury resort.
Jacksonville, Fla.-based CSX Corp. says Goldman will consider options for making The Greenbrier a viable business entity in a statement released Friday.
Typically, hiring an investment banking firm signals a potential sale, but CSX spokesman Gary Sease would say only that the railroad operator is considering all options for the resort.
CSX says The Greenbrier lost $35 million in 2008 and faces more trouble this year because market for luxury accommodations is shrinking with the slowing economy.
Separately, CSX says it’s promoted general manager Michael Gordon to president and managing director of The Greenbrier.