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Well, it seems almost impossible,

but some small independent ski resorts are still thriving in the era of giant ski resort conglomerates.

Two years ago, a Colorado private equity company called KSL Partners got together with another investor

and launched a multi-billion-dollar conglomerate called

Altera Mountain Company. It quickly snapped up big-name ski resorts, including Steamboat Springs,

mammoth resorts in California and Deer Valley Resorts. Altera's enormous rival,

Vail Resorts went on a buying spree, too, and neither has stopped scouring the country for acquisitions.

Bottom line, these dueling megacorporations, as the Wall Street Journal call them,

...