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Kemah Boardwalk and Bullet Discussion Thread


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Since a category 2 storm isn't bad, I'm sure the coaster is fine, but the base might be flooded. Now if Dean goes where predicted(south or Corpus Christi), the opening might be delayed since it will probably be a bad storm even up by Huston. Hopefully it can weather(no pun intended) the storms, and hopefully the owners open it on time.

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Since a category 2 storm isn't bad, I'm sure the coaster is fine, but the base might be flooded. Now if Dean goes where predicted(south or Corpus Christi), the opening might be delayed since it will probably be a bad storm even up by Huston. Hopefully it can weather(no pun intended) the storms, and hopefully the owners open it on time.
If the "owners" can get there heads on..

 

Business

 

 

 

Aug. 17, 2007, 12:00AM

Landry's dispute is still up in the air

Judge orders restaurant chain, bondholders to try for settlement

 

 

By PURVA PATEL

Copyright 2007 Houston Chronicle

 

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GALVESTON — A dispute between Landry's Restaurants and its bondholders remained unresolved Thursday after a federal court hearing during which CEO Tilman Fertitta testified that a ruling against the company would force it to halt all new projects.

 

Landry's is asking U.S. District Court Judge Samuel Kent to make permanent a temporary restraining order against bondholders who've called for the immediate repayment of $400 million in notes.

 

The Houston company fell into technical default, the bondholders say, after it failed to file its 2006 annual report on time. The company said the delay was necessary because it was conducting an investigation into past stock-option granting practices.

 

Kent ordered the two sides to try to work out an agreement on their own and to return to his courtroom on Monday if they failed.

 

Fertitta said all major developments — including additional plans in Las Vegas, where the company owns the Golden Nugget Casino, and projects slated for Houston and Galveston — would be put on hold while the company focused on generating enough income to pay off the notes, if the court sided with the bondholders.

 

"I'd just as well go on vacation, because we will be just sitting there," he said.

 

Fertitta said the company could use backup financing it arranged last week with banks to pay off the bonds, but it's costly, he said.

 

The company's standby financing comes with a one-time $5 million fee and a higher interest rate of 11 to 12 percent, which amounts to at least $15 million a year in additional interest, and must be paid off in two years, Fertitta testified.

 

He added that the loan would lead to a loss in liquidity of more than $200 million.

 

Proceedings paused midday and attorneys for bondholders and Landry's tried to negotiate a deal. But those talks broke down, Fertitta said after the hearing.

 

"All we're looking for is a deal that's better than the bank deal," he said.

 

Kathy Patrick, an attorney for the bondholders Post Advisory Group and Lord Abbett Bond-Debenture Fund, said she hoped the two parties would come to terms.

 

"It's not for lack of trying," she said after the hearing.

 

During his opening remarks to the court, Landry's attorney Anthony Buzbee referred to the bondholders as "sharks," seeking to extort money from the company.

 

He said bondholders asked Landry's to pay $4 million just to meet and negotiate. He said the bondholders were trying to force Landry's into an involuntary bankruptcy.

 

After the hearing, Patrick said her clients were not sharks, but managed mutual funds and pension funds.

 

"These are individual investors," she said. "Bondholders have been willing to negotiate and arrange a fair deal that reflects the realities of Landry's situation."

 

When the notes were called, and bondholders demanded $4 million just to negotiate, Fertitta said he felt help- less.

 

"I've never felt totally trapped into a corner," Fertitta testified. "I can usually handle a lot of situations, but I truly in my heart did not know what to do."

 

Some vendors are nervous and credit-rating agencies have cut the company's corporate-debt ratings and may not raise them because the interest payment on the standby financing is so huge, he said.

 

But upon cross-examination by Patrick, Fertitta acknowledged that if Landry's has to use the standby credit, the company would not go bankrupt, have to close any restaurants or have to lay off employees.

 

Patrick also noted that Landry's had made statements that it knew its bonds were immediately payable after bondholders called them.

 

"They gave you five months, sir," she said. "When they accelerated the notes, they asked you to pay."

 

Fertitta said he didn't know who the bondholders were or to whom to make out a check even if he were to pay.

 

When Patrick said Landry's could pay the trustee, U.S. Bank, Fertitta said, "I don't think it's nice of them to ask for it on that day after sitting on it for five months."

 

To which Patrick responded, "As you're apt to say, Mr. Fertitta, this isn't about niceness. This is about contracts."

 

The one that says "Landry's may seize to exist" i can't find.

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I just drove by a few minutes ago and they are steadily working on the concrete out front- Looks like finishing work to me....

 

Hopefully we get to ride before Dean makes an unwelcome appearance....

 

Its going to be close I think. We will really know when we are getting close when we see the Coaster test running all day for several days. If its not to that point by this weekend then Dean might put a hamper on it all.

 

-GG

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Friday update. Tests were run last night and the data has been processed. One piece of track needs adjusting then they should be ready to get the 100 or so hours of testing they need to get. Its really close and is getting very near their calculated speeds on the first hill.

 

Expecting more data testing Saturday and the weather should be OK.

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I'll be there late afternoon.

 

I'm going to help pup install some things on his house that will allow him to easily put up plywood over the windows if a storm comes. So my morning and early afternoon will be spent hauling wood up and down ladders and such...

 

after all I put him through today, it's the least I could do for him!

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I went out at lunch time today. It was hot and sunny. It might've been around 2:15 p.m., Bullet started testing testing laps again around 7-8 times. I took some video. Seemed to run okay from street level. Drove back into Houston and it was pouring rain. Tx Dept highway marquis were flashing "HURRICANE FORMING NEAR GULF... MAKE SURE YOUR GAS TANKS ARE FULL". Don't know if the rain reached Kemah or not.

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Not much rain at Kemah today. We won't really have a good idea of where that hurricane is headed until next Wednesday. Not sure why they want to get Houston all panicky this early.

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You got to get prepared now I lived in Florida with the 04 storms. Its already a cat 4 so its going to be a very strong storm. And by Wensday it will to late to leave they will know where its going by then.

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What, according to the sign I am supposed to keep my gas tank full. The storm won't even hit until next Thursday/Friday if it even hits at all. By then I will run out of gas 2-3 times with normal driving. Am I supposed to stop every time I burn 3/4th a tank and top it off? No thanks. Give me my normal traffic time estimates. When Monday rolls around, then change the signs over.

 

People overreacted during last hurricane. People as far as 60-70 miles inland were evacuating. I lived here during Alicia and lived about 30 miles inland. They loose steam pretty fast when they hit land. On top of that, Houston isn't the bowl that New Orleans is. When Houston flooded bad it was cause of weeks of rain then a tropical depression that stalled. Hurricanes don't stall that soon, they keep on going. Way more people evacuated last time than need be which is why he had the worst gridlock in a major city ever.

 

Its one thing to be aware of the storm and have the right supplies, another thing to cause more fear and anxiety than necessary. I'm willing to bet the local news will spend half the show (yes, it is a show, not news anymore) touting the storm.

 

-GG

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Its people like you who get stuck in the middle of a cat 4 or 5 because they thought it would be nothing!

Your taking the Florida attitude of Hurricanes one didnt hit last year so nothing can get us! Or the attitude ive been through one even if it was small I can go through them all. Then you want to leave and you cant because they closed the road out!

I lived in Florida for 9 years up until last year I lived in Orlando and even that far inland its pretty bad.

Have you ever been through a major Hurricane your self ive been through a cat 3 in Orlando.

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Wow! I just watched the 2 teting videos and I am very impressed. The only new upcoming wooden roller coaster I have gotten excited about was Thunderhead at Dollywood. I am planning on addiing this place on my road trip (along with Hard Rock Park). I'm very excited to ride this coaster next year. I am very impressed with its compact layout. I really enjoy crossovers on wooden coasters (why I love Thunderhead so much). So it says that this coaster will have the most crossovers than any other coaster ever built. Does this mean it takes Thunderheads record, or am I confusing my facts? Although i am very impressed by this coaster, Thunderhead still owns any wooden coaster out there (Including El Toro & Voyage). This coaster may make it into my top 3 woooden coaster chart.

 

1. Thunderhead (Air Time & Crossover Goodness) (16 Rides)

2. Voyage (3 Rides)

3. El Toro (3 Rides)

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Go Thunderhead its my favorite woodie. I have 107 rides on it though the advantage of season passes and planning on going to the park on dead days for two seasons! This looks amazing too though.

 

 

EDIT: Weather Channel just got the latest update on Dean.

Wind: 145 mph/Pressure: 936

Only 10mph from being a cat 5

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Its people like you who get stuck in the middle of a cat 4 or 5 because they thought it would be nothing!

 

First of all, I've lived in Houston all my life and never been 'stuck' in a category 4 or 5 storm. Alicia hit us dead on in 1983, it was borderline Cat4. I remember going outside a few minutes while the eye was over us. We lived about 30 miles inland and in a very sturdy building. Secondly, I never said that if this storm comes our way, it would be nothing.

 

Have you ever been through a major Hurricane your self I've been through a cat 3 in Orlando.

 

As I said I have lived in Houston all my life. I've been through every Hurricane throughout that time with Alicia being one of the strongest.

 

I never said a Hurricane can't hit us. I'm saying its too early to tell everyone to go fill up their gas - it will be empty by the time it hits. Its too early for people to panic. The local radio station heads off with a terrifying news blurb telling people to brace themselves etc, then the meteorologist who at least has some sense corrects them and states "Well, I wouldn't go that far. If you haven't done your annual Hurricane preparedness now is a good time." I don't disagree. but getting people put up in a frenzy this far in advance is ludicrous. There is a balance to be met.

 

Now, come Monday or Tuesday, when we know more then people can decide if they need to evacuate, in fact, the City will tell you. Right now they still have it projected from way deep in Mexico to Louisiana. Its anyones guess.

 

This is way off topic so I'll leave it at this.

 

-GG (Rant Mode=Off)

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You got to get prepared now I lived in Florida with the 04 storms. Its already a cat 4 so its going to be a very strong storm. And by Wensday it will to late to leave they will know where its going by then.

 

They didn't know where Rita was going until about 12 hours before it hit. 3 million people evacauted the Houston area but no one evacuated to the east of here...and guess where they had to hurry up and evacuate when they realized the storm was going further to the east?

 

While you can see a hurricane coming days and even weeks in advance...predicting where it will hit certainly isn't an exact science.

 

Anyways...hope the current models are correct and the storm stays to the south of here. I want them to finish Bullet so I can finally ride it after watching them build it for 9 months!

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Here's a Google Earth pic of the Boardwalk with the area that Bullet sits in shaded and marked. The red lines are a rough estimate of the track layout.

404552319_Picture1copy.jpg.31300c3c5aea463d19999410b0a377e7.jpg

Yeah, I know it's squiggly. I'm using a thumb-controlled trackball instead of a mouse, cut me some slack!

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This is one one really compact coaster, and like someone above said, it is amazing how a little parking lot turned into such a large coaster. However, it looks like it is more turns than hills, like a GCI, but it should still be a great coaster nonetheless. While there will probably be plenty of airtime, it just doesn't seem to have as many hills as I'd like. Now there are probably many hills inside the structure,(so don't get upset and think I'm stupid) but from the outside, it seems to have a few too many turns. Granted, since it is a compact space, there will be a lot of turns, but Balder and Viper are also compact, yet they have plenty of airtime and turns when needed.

 

 

Edit: I just looked at the rendering again, and there are more hills than I thought, and there appears to be more airtime than I previously thought there would be.

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^It really is amazing how many hills are hidden inside the layout. I personally count 10 turns and 13 hills, so there's a ton of them. First time riders will definitely be surprised.

 

I also just watched the animation, and noticed something. In the animation, the drop under the station goes into a curve that has a small hill following it that leads to the next turn. However, IRL, it appears that the turn is under the brake run, then there's a small hill to get under the station, and then another hill that leaves from under the station. I'm not complaining, looks like more airtime for us, and plus a crazy headchopper!

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After watching that video, I actually can’t wait to ride this thing!! Although, it will probably be next year now.

 

I bet landry's are a bit peed about the amount this thing has been delayed.

 

Can’t Waite to see an actually POV of it!!!

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