waterviper Posted June 26, 2006 Share Posted June 26, 2006 Didn't Wes just ask you guys not to have personally comments or attacks on this thread?? I am restraining from one now! If I can do it you can do it! Link to comment Share on other sites More sharing options...
BiCoastal Kid Posted June 26, 2006 Share Posted June 26, 2006 Oh, I'm just laughing at this thread in general. People are reacting so much to this one, but when other, classic parks like Whalom are actually basically going to be torn down, I don't see anybody making a fuss over that. When Astroworld closed all I really saw were a few "It's so sad that my home park is closing" things, and everybody else didn't care since most of the rides got moved. yet, SFMM get's mentioned and people FREAK. IDK, I find it rather.... shallow. Â Honestly, I think Astroworld had more worth saving than SFMM does.... Link to comment Share on other sites More sharing options...
GAcoaster Posted June 26, 2006 Share Posted June 26, 2006 So okay, the stock took a dive right after the announcement. I guess that signifies that those parks won't be sold? Â Â Or how does it signify anything? I really don't understand how the stock market works. Â I believe the dive in the stock price was due more to Shapiro's "we may not be able to pay our debts" statement than the possible sale of assets. Also note in the Screamscape article that Snyder bought more stock since it went down, and increased his stake. He's a smart business man and believes there is money to be made or he wouldn't keep investing. Â I personally think that selling MM and the other parks is a smart move. I'm still surprised by the move and would hate to lose it should they end up selling it for the land, but looking at the reasoning behind it, I fully understand why they are thinking of doing it. Â The value of that single park can go a long way to fixing the company's debt load, and (like with Frontier City) it is a symbol of the "old" company and their short-sighted ways. People all over agree that MM was symbolic of the problem with Premier's ownership of the company...build coasters, take out flats, don't pay to maintain anything, do everything half-assed. Â I suggest everyone go to Yahoo Finance and listen to the conference call and really listen to what Shapiro says. He's not the Grinch Who Stole Coasters, just a smart business man who is trying to fix a badly damaged company. Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 26, 2006 Share Posted June 26, 2006 Darien Lake already have a buyer? Â "Assuming" 6Fl may sell of some/all of its parks listed, DL may already have an intetrested party (in the event that the sale does happen). Â Credit Link: http://www.wben.com/news/fullstory.php?newsid=05246 Link to comment Share on other sites More sharing options...
Darien Laker Posted June 26, 2006 Share Posted June 26, 2006 ^^I agree that while it would be sad for some people to lose their home park, selling SFMM would be a great idea. Whether it stays open or not, it would be good for Six Flags to unload it and make A LOT of money off the park/land, rather than dump money which they don't have into trying to make it "fit in" as a SF park. Â I'm assuming since SFDL already basically is a semi-decent family park, they're interested in selling it because of Buffalo's declining population. I highly doubt it would sell well as just worthless land, and they're not going to make any money off of it unless it's sold as a park with the rides. It would probably cost more to remove the rides than they would make on that land alone. Â I know a lot of people seem to think they're "crazy for considering selling SFMM" and it would be "smart to sell SFDL and SFEG because nobody likes them", but I don't think it's got anything to do with that. I do think SFEG is done for, but it's more of a situation like SFMM with the land value being a huge factor. Link to comment Share on other sites More sharing options...
BeemerBoy Posted June 26, 2006 Share Posted June 26, 2006 I'm gonna agree that SFMM really should be sold off by SFI. There really is no point in trying to convert that park into something that would fit into the company's restructured business plan ("family-freindly" for those who may still be wondering). I'm actually starting to really like the idea of Busch becoming a possible suitor. It would take a massive overhaul to turn that place into something worthy of Busch status, but nothing's impossible. Perhaps sell some of the coasters to the new owner of EG? (sorry, crazy thought there) Â It really wouldn't be bad for Busch to have two properties within reasonable driving distance, a la Orlando/Tampa. A two park pass may work well, right? Â Enough of that though. Onto one perplexing question on my mind. Can anyone come up with a logical reason why SFKK is worth keeping? Yes, I have been there. Yes, it was a couple years back before the supposed "changes for the better" started taking place. Still, at the time, it seemed like a glorified carnival with no promise for any kind of expansion, which is why if someone can prove me wrong on that account, please help me understand why it would fit into long term plans for SFI. Link to comment Share on other sites More sharing options...
Darien Laker Posted June 26, 2006 Share Posted June 26, 2006 I don't think they're allowed to sell SFKK. I'm not sure exactly what's up with that, but I don't think they own the land. They pretty much won't get anything out of closing that park, other than a bunch of rides that they'll have to have scrapped or pay to have relocated. Although I suppose they could sell some of the rides, it's still not worth it if they don't own the land. Link to comment Share on other sites More sharing options...
BeemerBoy Posted June 26, 2006 Share Posted June 26, 2006 Ah, yeah, that would make a little more sense then. Thanks. Link to comment Share on other sites More sharing options...
Angry_Gumball Posted June 26, 2006 Share Posted June 26, 2006 If SFMM got sold, it's not so much of the fact of another park owner operating it that's probably driving people crazy, but the idea that one of the possible buyers are real estate...meaning more houses that people can't afford. I could care less if SFMM wasn't ran by Six Flags anymore but would still like to see the park still be operating. Â Same with Waterworld, which is the closest operating waterpark to me. (Well, there would be one closer if they ever got onto construction so they could open) Hopefully, Concord will consider keeping Waterworld open as it was mentioned on a local news channel that it's a popular hangout on those hot summer days in the bay area. I'd hate to see houses take over a waterpark as well as a themepark as my city alone (as I mentioned in a previous post) is becoming swamped with overpriced homes and lack of recreation. Â By the way, here's the clip about Waterworld (Mainly for those of us in the bay area) http://cbs5.com/video/?id=14408@kpix.dayport.com Link to comment Share on other sites More sharing options...
kk_slider11290 Posted June 26, 2006 Share Posted June 26, 2006 I just find it humorous that all these reports give the illusion the area around Magic mountain is actually nice. Link to comment Share on other sites More sharing options...
BiCoastal Kid Posted June 26, 2006 Share Posted June 26, 2006 ^It's a wonder what a good sprinkler and irrigation system can do. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 Do any of you know how hot it gets in the park during the summer? Well with the foot hills surronding the park it traps heat and it stays there all day. When i was working there in psa it was hotter then hell and i had to take 5 min cool down breaks. All i can say if you go take a bottle of water that you left in the freezer overnight you will need it. Link to comment Share on other sites More sharing options...
TriboElectric Posted June 26, 2006 Share Posted June 26, 2006 "Fitch may cut Six Flags' rating deeper into junk"Fitch Ratings on Monday said it may cut its rating on Six Flags Inc. (deeper into junk territory, citing the theme park operator's reduced cash flow and need to amend its bank covenants......... Six Flags does not have significant debt maturities until 2008, Fitch said. However, the company will be required to repay its $643.5 million term loan on Dec. 31, 2008, if its preferred stock is outstanding at that time, the rating agency said. Credit quality concerns are somewhat offset by the company's position as the largest regional theme park operator, Fitch said. Six Flags has also announced plans to sell several theme parks, cut outlays for new rides, focus aggressively on the family market and improve margins, the agency said. Fitch rates Six Flags "B-minus," six steps below investment grade. today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-06-26T165700Z_01_N26281718_RTRIDST_0_LEISURE-SIXFLAGS-FITCH.XML Â Interesting regarding the company having to pay 643.5 million by Dec 31 2008. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 Can anyone say chapter 11 cause that what going to happen if this keeps up."Six flags is a lost cause" Link to comment Share on other sites More sharing options...
TriboElectric Posted June 26, 2006 Share Posted June 26, 2006 Junkie: Not soo fast, they have lots of properties they can unload for cash. Hence all these discussions about the parks being sold to housing developers. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 Junkie: Not soo fast, they have lots of properties they can unload for cash. Hence all these discussions about the parks being sold to housing developers. Dont they own a park in mexico? why not sell that. And one last thing call me matt ok bro Link to comment Share on other sites More sharing options...
TriboElectric Posted June 26, 2006 Share Posted June 26, 2006 Sorry about that Matt Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 "electric" Exon owns the land sfmm sits on Six Flags just rents the space Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 "Darian laker'' I have lived out in the santa clarita valley for almost 20 yrs so i know who owns what out here ok Link to comment Share on other sites More sharing options...
Loser_nerd Posted June 26, 2006 Share Posted June 26, 2006 There has been a new petition started, if you would seriously like to see sfmm saved from nuclear explosions and fire Email Dan!!! Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 26, 2006 Share Posted June 26, 2006 Darien Lake already have a buyer? "Assuming" 6Fl may sell of some/all of its parks listed, DL may already have an intetrested party (in the event that the sale does happen).  Credit Link: http://www.wben.com/news/fullstory.php?newsid=05246  Now another news media report has a potential buyer interested in the purchase of 6F-Elitch Gardens Credit Link: http://www.rockymountainnews.com/drmn/real_estate/article/0,1299,DRMN_414_4798653,00.html Link to comment Share on other sites More sharing options...
map2 Posted June 26, 2006 Share Posted June 26, 2006 Interesting screamscape article, in it contains a theory about how the idea about selling the park is possibly a big publicity stunt to make people think the park is closing to increase attendance. I don't think I buy that but I hope he's right! http://www.screamscape.com/html/six_flags_magic_mountain.htm  This could be true, Sharpio worked with Disney, so this may be the only way to get attendance. Then once the "off season" starts, Six Flags will say that SFMM improved and has been taken off the "cut" list. It makes more since now, and I hope this is what it really is. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 Map2 I hope for the rollercoaster communitys sake its a bluff job just to get people to go. Link to comment Share on other sites More sharing options...
Lord Turbine Posted June 26, 2006 Share Posted June 26, 2006 ^Now that you mention it, that does sound completely logical. I know a lot of people that are planning to go during the summer now that they heard that they were going to sell the park. Â Judging by all the media coverage, this could be the most brilliant marketing stunt in the history of the park! This'll get people coming just to be there one last time, thus boosing admissions by the truckload! Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 26, 2006 Share Posted June 26, 2006 Any rumors or information regarding A-B "considering" to be a player in any of the forementioned Six Flags parks an announcement could be made as early as July 26. I am a past employee and a shareholder and hope they mention something on the matter from the webcast. Also, on an unrelated note expect information released to the regional BEC operations regarding upcoming dates for 07 project (aka-BGE 07 coaster date). I have projected the date to be around mid-August and the announcement date is suggested to be August 18th. Â Â Credit: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=bud&script=2100 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now