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Kennywood (KW) Discussion Thread


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Whenever I hear of a park being sold, I tend to get anxious about the whole deal

 

Sometimes the deal maybe great (Rmember Ghost Town in the Sky? I'm sure that park will grow and become greater within the coming seasons)

 

But sometimes something happens when the new owners decides to change the park and make it into something different (Remeber Geauge Lake, anyone? That was a great park until it got screwed twice, first by Six Flags and then by Cedar Fair). It lefted a lot of people like this or

 

Right now, I'm keeping my fingers crossed on this.

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Can I ask a stupid question?

 

I'm not as into the coaster thing as I used to be but... what's the big deal? Nobody is going to turn it into condos, nobody is changing anything next year, they said that they were going to keep everything the same (and why not if it's profitable?)

 

This seems like a minor news story and if you didn't hear about it, you probably wouldn't even notice a difference at the park.

 

Did I miss something?

Cedar Fair said the same thing about Knott's.

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I don't believe those people are workers, since to be a worker you have to actually do work.

 

Probably the worst ops I've ever seen were on Hades. Between cycles they would slouch in the corner with their backs facing the guests. It was funny to watch.

 

Oh, and one of the ops on that stupid kiddie coaster that they won't let you ride was super rude in rejecting us. She wagged her finger at us and gave us a disapproving stare. Mind you there were no signs anywhere saying that we couldn't ride it.

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I don't know...I kind of have mixed emotions about this whole thing. Kennywood has been my home park for my entire life & counting...I would be really pissed if the overall "Kennywood Feel" started to decline because of the new owners.

 

I want to think postive...I want to think that maybe this can be a great move for Kennywood's behalf, but i'm just not sure. Like a few have mentioned before, all we can do is sit back and watch what may unfold.

 

I know one thing though, they could never totally just dismantle KP and build something else in it's place should they become tired with the park...with KP being a historic landmark and all...

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Thank god the park and some rides are Historic Landmarks, because in 15 to 20 years after the park has changed hands a few times and is a shell of it's former self the chances of someone buying it and leveling it to build a shopping center or office park are less.

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I was hesitant to respond to this topic as I haven't been able to make it to Compounce yet and (no throwing tomatoes) I had never heard of Kennywood until this topic. I do know something about a family owning a park, though. One of my father's friends owned a small kids' park in Hutchinson, Kansas in the 60's and early 70's called Clown Town, the remains of which are still around a couple of his outbuildings. (The kiddie coaster is dismantled and in one of those buildings.) Although they had a moderate amount of success with the park, it just became (if you'll pardon my French) a colossal pain in the ass to operate. There were no buyers at the time. (Too bad; they could have bought Joyland, anyway...) Long story short, they would have sold and I wouldn't have blamed them a bit. One of the most important intuitions in business is knowing when to stay in and knowing when to get the hell out.

I do agree with most everyone that I hope it doesnt become Six Flags Just Under Hartford. There is already a Six Flags Over Dead Riverside in Agawam and from what I've researched, lower crime rate and Superman: Ride of Steel are the ONLY improvements.

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Thank god the park and some rides are Historic Landmarks, because in 15 to 20 years after the park has changed hands a few times and is a shell of it's former self the chances of someone buying it and leveling it to build a shopping center or office park are less.

 

The landmarks are privately owned which offers them absolutely NO protection.

 

Source: http://www.nps.gov/nhl/QA.htm#6

 

How will Landmark designation affect my ability to make changes to my property?

 

Listing of private property as a National Historic Landmark or on the National Register does not prohibit under Federal law or regulations any actions which may otherwise be taken by the property owner with respect to the property. The National Park Service may recommend to owners various preservation actions, but owners are not obligated to carry out these recommendations. They are free to make whatever changes they wish if Federal funding, licensing or permits are not involved. (Questions regarding Federal involvement are answered in the next section.) Federal laws that involve National Historic Landmarks are listed in the Federal regulations governing this program, specifically in 36 CFR 65.2 "Effects of Designation" ©(1-7).

 

Owners should keep in mind that State laws or local ordinances may affect National Historic Landmarks if these legal mechanisms recognize and protect Landmarks, independent of Federal law.

 

Does becoming a National Historic Landmark mean the Federal government will acquire my property?

 

No. Landmark designation implies no commitment on the part of the Federal government to acquire the property.

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The landmarks are privately owned which offers them absolutely NO protection.

 

God..that puts a whole new light on things! Even though they're landmareked they have no protection against things like hsotile land acquisitions or eminent domain. I fear for not only Kennywood and Compounce, but also for Astroland's Cyclone and Deno's Wonder Wheel.

America isn't exactly known for its preservation of historic spaces, with exception to the ones involved in the Revolutionary and Civil Wars.

 

Side note: I wonder if we could get Reunidos interested in buying up Wild West World. Shame it only lasted 3 months. Now, you still have to go to Denver, OKC, or KCMO if you want thrills (no, Joyland does not count, no matter how messed up you are when you ride Nightmare.)

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OK, after letting this sink in a bit, here's a response I posted at KWC. I really think we don't have anything to worry about.

 

It's a lot of hubub over nothing. Kennywood will be just fine. Do you think Pittsburghers would ALLOW drastic changes to be made? Trust me, if there's one thing Pittsburghers can do, is pull together over something they feel strongly about, (whether its important to humanity or not,) and Kennywood touches EVERYONE that has ever lived in the city for any length of time. If they turned the park into plastic-flags, or even tried to, riots would ensue! Especially after a couple 6-packs of Iron City and a lost Steeler game.

 

So yinz calm down. Ain't nothin' gonna happen.

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Yeah, my emotions have cooled over the last couple days as well.

 

After reading what people have been saying about the new owners, I don't think they'll make drastic, disagreeable changes to the park. KW is probably about as successful as it can be, given its landlocked state.

 

And for the record, I'm not one of those Pittsburghers who's upset because the new ownership is not American. I'm only upset that KW Entertainment sold out at all. I can't imagine that they sold out because then needed the $$$, so it upsets me that they couldn't resolve whatever internal conflicts there were and selling was the only solution.

 

But if this is the best option as far as the public's long term best interests are concerned, then I'm all for it.

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It's a lot of hubub over nothing. Kennywood will be just fine. Do you think Pittsburghers would ALLOW drastic changes to be made? Trust me, if there's one thing Pittsburghers can do, is pull together over something they feel strongly about, (whether its important to humanity or not,) and Kennywood touches EVERYONE that has ever lived in the city for any length of time. If they turned the park into plastic-flags, or even tried to, riots would ensue! Especially after a couple 6-packs of Iron City and a lost Steeler game.

 

So yinz calm down. Ain't nothin' gonna happen.

 

Give me a break. What are they going to do? Fly over to Spain and burn down the corporate offices of Parques Reunidos? Kinda hard to appeal to a bunch of decision makers on another continent through a language barrier and all.

 

Changes would be slow and subtle, not cowboy-like. Let's hope that Parques Reunidos is as hands off as people are claiming.

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What I find pretty funny, is the fact that not just people in here, but people in general, think THEY know what is best for this park. I watched the PCN channel the one night when they were talking to Mary Lou and I just couldn't stop laughing at how ignorant most of the people in Pittsburgh are in regards to this issue. Quite frankly I myself was half tempted to call in and put my two cents, but the show was over by the time I had the chance. Listen, I've been visiting Kennywood for most of my life now and I totally understand how this park has affected people's lives in so many different ways, but just because Parques Reunidos is taking over doesn't mean that's going to change.

 

People point to the things that happened to parks like Knott's Berry Farm, but when Cedar Fair took over did they leave the current management in place? All Kennywoods officials will be staying after the purchase and complete so I don't know where people are getting some idea that the new company is going to come in and make drastic changes, when the people who have been making the decisions for the past who knows how many years are going to remain at the park. The only significant change I see happening with this purchase, is the park is going to have a lot more capital to work with. Maybe now they won't be so hesistant to start the new expansion, move the picnic pavilions, build the indoor waterpark and hotel, build new coasters and better rides, and the rest of the things they've been planning for the last 10 years or so. So really, all I can really say is, if anyone knows what is best for this park, it would be the people in charge of the park and the people who actually run an amusement park chain, not all the naysayers who think that this company is going to turn the park inside out and build 1,000 taco stands throughout the park.

 

Give it time people, maybe we'll see a new eurofighter next season!

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I work in HR at Castle Park, here in SoCal. We were acquired by PR in... Jeez August I think? I'm hesitant to breathe a sigh of relief, but as far as I can see, they really are a very, very hands-off company.

We've had one visit from representatives, and they were very clear to us that they had no intention of doing anything to the park, or "Putting money into something that doesn't really need it." They don't want to make every park their own personal Disneyland, they just want to sit back and share our money.

They walked around, met with the staff, answered questions, and told us to expect further communications to be through e-mail. When I asked Rolf, our park #1 what was up, his response was "That was it? I don't know, I figured they'd want to survey the land or something." Heh, the park is standing on some land that would do nicely for an extra hospital annex that it could really use, or a hotel, and our attendance has been pretty poor lately,so he figured they might decide to scrap the place. But as far as I can tell, Parques Reunidos just want their cut.

 

 

D

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What I find pretty funny, is the fact that not just people in here, but people in general, think THEY know what is best for this park. I watched the PCN channel the one night when they were talking to Mary Lou and I just couldn't stop laughing at how ignorant most of the people in Pittsburgh are in regards to this issue. Quite frankly I myself was half tempted to call in and put my two cents, but the show was over by the time I had the chance. Listen, I've been visiting Kennywood for most of my life now and I totally understand how this park has affected people's lives in so many different ways, but just because Parques Reunidos is taking over doesn't mean that's going to change.

 

People point to the things that happened to parks like Knott's Berry Farm, but when Cedar Fair took over did they leave the current management in place? All Kennywoods officials will be staying after the purchase and complete so I don't know where people are getting some idea that the new company is going to come in and make drastic changes, when the people who have been making the decisions for the past who knows how many years are going to remain at the park. The only significant change I see happening with this purchase, is the park is going to have a lot more capital to work with. Maybe now they won't be so hesistant to start the new expansion, move the picnic pavilions, build the indoor waterpark and hotel, build new coasters and better rides, and the rest of the things they've been planning for the last 10 years or so. So really, all I can really say is, if anyone knows what is best for this park, it would be the people in charge of the park and the people who actually run an amusement park chain, not all the naysayers who think that this company is going to turn the park inside out and build 1,000 taco stands throughout the park.

 

Give it time people, maybe we'll see a new eurofighter next season!

I think most people are worried about 10 to 15 years from now, when the Spanish company has a change of heart and puts new people in to replace the retiring Kennywood folks or the biggie they sell the park to someone like Cedar Fair or Six Flags.

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  • 2 months later...

There's a very interesting article in today's Pittsburgh Tribune-Review (the area's conservative leaning daily) that implies that not all of the owning families are on board with the sale.

 

Kennywood owners divided on foreign sale

By Thomas Olson

TRIBUNE-REVIEW

Saturday, March 8, 2008

 

The sale of Kennywood Park is proving not to be as smooth a ride as management had bargained for.

The deal to sell the storied amusement park and four sister venues to Parques Reunidos of Spain awaits approval from the Kennywood founders' dozens of heirs. But many, including an owner who sits on the board of directors, are not ready to punch that ticket.

 

"I am very much opposed to the sale. It's just kind of getting rammed down people's throats," said Kay Matthews, a Kennywood shareholder whose grandfather, Andrew McSwigan, co-founded the park more than 100 years ago.

 

Kennywood Entertainment, the parent company under sales agreement, is owned by the 76 descendants of the amusement park's two founding families: the Henningers and McSwigans.

 

Terms of the deal require a "super-majority" -- not just 50-plus percent -- of both family members' votes in favor, said company executives. The Madrid-based buyer is still scrutinizing Kennywood's books and properties.

"It's taking a little more time to answer all their requests for documents," said Peter McAneny, CEO of Kennywood Entertainment. He said the tentative agreement is in its third draft.

 

Management announced an agreement Dec. 11 to sell Kennywood. The deal includes the park in West Mifflin, Sandcastle Waterpark in West Homestead, and Idlewild & Soak Zone in Ligonier, as well as theme parks in Bristol, Conn., and Glen, N.H.

 

McAneny, who is not a shareholder, and a Parques Reunidos spokesman said they expect the sale to be finalized within four weeks.

 

"As leader of the family, my goal is always 100 percent," Kennywood Chairman and former CEO Harry Henninger said. But with 76 different shareholder owners, "getting 100 percent of a vote on anything is like herding cats."

 

The initial offer was about $200 million, all in cash, said some family members. Henninger declined to confirm the amount.

 

"Some want to sell, and some don't want to sell," said Andrew McSwigan, a fourth-generation owner and, since 1971, one of four directors on Kennywood's board. "I'm on the side that doesn't want to sell."

 

"Kennywood is a hometown treasure," said McSwigan, 69. "I spent my childhood out there and remember riding some rides while they were still under construction."

 

Kennywood Park is set to open eight weeks from today, on May 3. The founders formed the original Pittsburg Kennywood Park Co. in 1906.

 

Parques Reunidos owns 61 amusement, animal and water parks, mostly in the United States, and has annual revenue of more than $570 million.

 

At publicly held corporations, a "super-majority" commonly means 66 percent or 75 percent.

 

"Some have more shares than others, but nobody has the bulk of the ownership," said Jean McCague, whose father was Kennywood's president for nearly 40 years, until 1963.

 

"I'd rather it continue in the family," McCague said. "Kennywood has been in our family for so many years that I'm against (the sale)."

 

Kennywood executives would not spell out its super-majority threshold. Henninger estimated about 90 percent of shareholders at a meeting Downtown around Thanksgiving favored discussing a deal with Parques Reunidos.

 

But that meeting and the Dec. 11 sales announcement confused some owners. Some thought they were voting whether to look at offers, not to accept one.

 

"We had not signed a sales agreement," McSwigan said. "Parques Reunidos sent in an offer and wanted to look at the books, and that's all the shareholders authorized."

 

Henninger said the late-November meeting left "a lot of confusion on all levels -- the management, the board, the shareholders and the press."

 

None of the family members contacted would disclose their ownership stake. But the owners are spread around. Of the 76 owner-heirs, more than 50 percent live outside the Pittsburgh area, Henninger said.

 

Henninger said that with increasingly scattered owners, some younger members start to see Kennywood as more of a passive investment than a personal legacy. "A child might be interested in dentistry, but wouldn't otherwise have the money to pursue it" without proceeds from a sale, he said.

 

"Kennywood is Pittsburgh, and Pittsburgh is Kennywood," said Matthews, who lives in Deerfield Beach, Fla. "It'd be like selling the Carnegie Museum to some conglomerate from Europe."

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