coasterjunkie91350 Posted June 26, 2006 Share Posted June 26, 2006 "kumba" Do you think this is really just a stunt to get people to come back to the park? If so its brilliant Link to comment Share on other sites More sharing options...
TriboElectric Posted June 27, 2006 Share Posted June 27, 2006 Doubtfull although perhaps Snyder wanted to buy some cheap stock. Though I do not think he would buy the shares if he did not think the company would rebound. So he has to make it rebound although he knows he can always sell off parks to pay the debts as a fallback. Â Daniel Snyder purchased 500,000 shares for about $5.92 per share after the stock plunged more than 26% last Friday following the company's announcement that an EBITDA (earnings before interest, taxes, depreciation and amortization) shortfall may put the amusement-park operator in default of its bank credit agreement. Snyder's purchase last week boosted his holdings to 11.4 million shares, Credit:http://http://online.barrons.com/google_login.html?url=http%3A%2F%2Fonline.barrons.com%2Farticle%2FSB115133540183490798.html%3Fmod%3Dgooglenews_barrons Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 27, 2006 Share Posted June 27, 2006 ^Coasterjunkie***  No. Not a stunt (in my opinion). I have read the article from the screamscape site, but some of his information really couldn't be back up by facts. Of course, it is his site and he pondered upon an opinion from his perspective (which was interesting).  Most people may (or may not) know that the Staubach company (owned by former Dallas Cowboys QB-Roger Staubach) recently did a complete analysis of all of the parks. In fact, Snyder (per the request of Shapiro) hired Staubach Co. to perform the corporate analysis of all logistics/operation of the park chain. All of the information ranged from: 1. Lease issues (current and expiring dates). 2. Land ownership and value. 3. Pending sponsorships (expiration dates). 4. Land value (each park). 5. Overall assets. 6. Current business model...and so on.  The 'preliminary' report was done just in time before the next 6F shareholders meeting. After that conference call/meeting, a decision was apparently made. Hence, the Shapiro announcement regarding the 'strategic (exploratory) plans' on putting the listed parks on the chopping (selling) block.  The banks, the accumulated-debt (payback by end of 2008) and current shareholders and so on have apparently received enough information from the Staubach Co. that the decision was made to release the information that exists today.  Six Flags Corp. has retained his (Staubach) services to further review the potential yield of selling some of its assets and park(s) to reduce its debt-load and payback some of the creditors. The park-chains credit rating has also dropped within the past week as well and shares are plummeting. Therefore, the information is based on "fact" and not rumors that are still floating around.  To back up the claim/information, here is a credit link:  http://roger.staubach.com/about.php   I still think the sale of most, if not all, of the parks(listed) is a healthy thing for the overall success of the park-chain; especially if they wish to remain in business as a corporate (and public) entity. MM may indeed fetch the largest $$ buyer and the business model of Shapiro's vision of a "family-themepark' really makes sense in unloading some of the "thrill parks" that do not fit into its current vision or business model. **Tiburon 503-has also posted some interesting viewpoints also (p. 17).  **note- I find it quite ironic that (I am a Cowboys fan) Snyder (owner-Redskins) and Staubach (former Cowboys player & HOF) are actually working together; especially considering the rivalry among the two NFL teams and passion for "winning"*** Link to comment Share on other sites More sharing options...
ParkTrips Posted June 27, 2006 Share Posted June 27, 2006 "kumba" Do you think this is really just a stunt to get people to come back to the park? If so its brilliant  No, not only do I doubt its a stunt, even if it were, I wouldn't consider it to be "brilliant" especialyl since they haven't said they WILL sell it. For all we know, it is never going to be sold.  re: Snyder buying stock -- those 500,000 shars are less than 5% of his current holdings, I mean its cool and all, but not TOO significant, IMO, as a 5 million share purcahse would have been  I just find it humorous that all these reports give the illusion the area around Magic mountain is actually nice. heh, I thought Valencia was a pretty nice area :-\  today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-06-26T165700Z_01_N26281718_RTRIDST_0_LEISURE-SIXFLAGS-FITCH.XML Interesting regarding the company having to pay 643.5 million by Dec 31 2008. And I think THAT is why the stock is falling more than anything, which should not have been any suprise since the 2005 annual reprot made mention of that idea (them not being able to meet creditor obligations) Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 27, 2006 Share Posted June 27, 2006 I just met a lady who work for a unknown real estate oc She says her co. is looking at sfmm real close but not to build homes. Link to comment Share on other sites More sharing options...
Angry_Gumball Posted June 27, 2006 Share Posted June 27, 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! Â Couldn't they get in trouble for pulling such a trick like that? Would that be classified as "False Advertising" or misleading? The theory is very interesting though and I wonder if this could be also used toward their other parks like Waterworld, SFEG, SFDL and so on. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 27, 2006 Share Posted June 27, 2006 Its more serious then we thought the park is just not making any $$$. I know we all love sfmm but it looks grimm that shapiro will keep it . Link to comment Share on other sites More sharing options...
Lord Turbine Posted June 27, 2006 Share Posted June 27, 2006 You know what's the worst part about all of this? Half of their debt is because of the 300 million dollar Tatsu. Â Once again: Shapiro, just stop the asshatery and wait things run their course - let the park regain back the money. Let it be for 3 years, then see what happens. Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 27, 2006 Share Posted June 27, 2006 You know what's the worst part about all of this? Half of their debt is because of the 300 million dollar Tatsu. Once again: Shapiro, just stop the asshatery and wait things run their course - let the park regain back the money. Let it be for 3 years, then see what happens. Turbine the cost of tatsu was 30 million. The park is worth close to a billion dollers so get your prices right kid. Link to comment Share on other sites More sharing options...
ParkTrips Posted June 27, 2006 Share Posted June 27, 2006 um, you say that Magic Mountain is worth a billion dollars, and then chastise someone for not having accurate information  Oh, and Tatsu cost $21M according to the rcdb Link to comment Share on other sites More sharing options...
UberBeavis Posted June 27, 2006 Share Posted June 27, 2006 Magic Mountain was once a good park, probably not ever really a great park, but those years are long gone. Most of the employees don't care, so why should the guests care? The park doesn't fit with the new Six Flags rebranding efforts; it steered away from the ORIGINAL Six Flags intent of clean, thrilling theme parks. It's doubtful that any operator would come in to pick up the mess that the park has become - it would take a LOT of capital just to get the park profitable. Link to comment Share on other sites More sharing options...
arrowfanman Posted June 27, 2006 Share Posted June 27, 2006 ^ The park already is profitable, as far as I can understand. Â And your right...most employees dont care. As a matter of fact, a lot of management doesn't care, to be quite honest, unfortunately. But then again, despite Shapiro crusading for a family atmosphere, I havn't hear him say much about him improving guest service standards. He seems too focused on manufacturing a family park...not operating one....planting flowers, performing shows, cutting the grass, painting buildings, and installing family rides is all he talks about. And thats cool! Really, it is! But I havn't heard much about ensuring that every staff-member watering the flowers, performing those shows, cutting that grass, working in that building, and operating that ride...I havn't heard much about ensuring that they have a smile on their face. That they are pleasant to be around. That they aren't having water-fights. And no...I'm not guilty of engaging in a water-fight. Â Truth is, when you get down to it, the way the employees work, act, and treat guests is a good 50% of what makes a pleasant atmosphere a pleasant atmosphere. And I havn't heard him dedicate that much of his spit into telling us that he'd improve that. Â Sorry to go off topic, but I needed to find some reason to say my interpretations. Â -Jahan Link to comment Share on other sites More sharing options...
SLUSHIE Posted June 27, 2006 Share Posted June 27, 2006 ^ I think there was an interview posted a while ago where he talked about staff training. Link to comment Share on other sites More sharing options...
martinb Posted June 27, 2006 Share Posted June 27, 2006 Couldn't they get in trouble for pulling such a trick like that?  Thats what I thought, its a very greedy idea, and if the GP found out it was a hoax, it would put them off going back ever again.  Interesting: http://www.ihatepetitions.com/SaveMM/petition.html  -Martyn  [edit] *500th Post* w00t Link to comment Share on other sites More sharing options...
coasterjunkie91350 Posted June 27, 2006 Share Posted June 27, 2006 I hate to get every one hopes up but the local real estate companys are drooling over sfmms land. So i predict a deal will be reached by next fall. Link to comment Share on other sites More sharing options...
Loser_nerd Posted June 27, 2006 Share Posted June 27, 2006 ^^ If any one needs a good laugh just read the petition. Didn't it already get posted somewhere else? Kevin Coley wrote WHY DID SIX FLAGS HAVE TO RUIN MAGIC MOUNTAIN? THERE IS NOTHING "MAGIC" ABOUT IS ANYMORE! IT SHOULD BE CALLED SIX FLAGS TRAGIC MOUNTAIN! Link to comment Share on other sites More sharing options...
martinb Posted June 27, 2006 Share Posted June 27, 2006 Is this seriously happening? It seems too unreal to be true, this is a park that I've always wanted to visit, along with Cedar Point, even though I'm British, I'd be absolutely gutted if it closed down, it would be a major blow to all entusiasts all over the world. Â I really hope that this is some kind of a hoax, or at least another Theme Pakr chain buy it. Â Why have Six Flags started selling all their parks, it started a while back with the European parks in Holland & Belgium, and now more & more seem to disapearing in America. Â How many did they own? And how many would they own after the sale of the current 6 parks? Â -Martyn Link to comment Share on other sites More sharing options...
trustkill22 Posted June 27, 2006 Share Posted June 27, 2006 Half the problem of them selling the parks is that they are in tons of debt and in the Theme Park Industry it means nothing about the rides its all about the money. Places build rides to try and bring people to the park to make money. They will not care about anyone saying "The park has great rides" etc. Â Look at Myrtle Beach Pavillion, People say that it was the heart of Myrtle Beach and that it had lots of history and great rides but, when the park starts losing money they wont listen to anyone saying how great the park is and just sell it to real estate for the money. Â Oh ya and its still not a for sure thing it just a thought so dont go around freaking about SFMM will be sold. Link to comment Share on other sites More sharing options...
Tiburon503 Posted June 27, 2006 Share Posted June 27, 2006 If Shapiro can't transition Six Flags Magic Mountain into a "family park" (which is nothing more than marketing B.S. If SF decides to call it a 'family park" tomorrow; guess what? It is.); he's too inept to run a Dairy Queen let alone a theme park company. There's no reason SFMM can't transition. This park is prints money and has a good land footprint. (One time value realized by an asset sale hurts the long term viability of Six Flags as a whole.) He was hardly the wunderkind at ESPN that people make him out to be (Cold Pizza? Playermakers? The only success he saw at ESPN was poker). Â I'll miss you Six Flags. The electric company will turn the lights off when Mark and Dan forget. Link to comment Share on other sites More sharing options...
map2 Posted June 27, 2006 Share Posted June 27, 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! Â Couldn't they get in trouble for pulling such a trick like that? Would that be classified as "False Advertising" or misleading? The theory is very interesting though and I wonder if this could be also used toward their other parks like Waterworld, SFEG, SFDL and so on. Â I'm not so sure about this, so correct me if I'm wrong, but I don't really think he's advertising the possible selling of the park. On the SFMM website it does not say anything about the park possibly being for sale. Sharpio has the freedom of speech, to say whatever he wants to say. Besides he's not really saying that the park is closing, we're just assuming that the park is closing because he put it out to the media. He can't control whether this gets on the news or not once he has already made the statement. I'm not so sure, but I don't think he's misleading us, because he still hasn't said if the park was going to close or not. It's kind of like putting a house on the market. You can keep it out there as long as you want, you can give it to whoever you want as long as that person has the money, and you can take the house off the market at any time. Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 28, 2006 Share Posted June 28, 2006 If Shapiro can't transition Six Flags Magic Mountain into a "family park" (which is nothing more than marketing B.S. If SF decides to call it a 'family park" tomorrow; guess what? It is.); he's too inept to run a Dairy Queen let alone a theme park company. Â ^I can send the number for Mark Cuban who can teach him management techniques in running a Dairy Queen...lol Link to comment Share on other sites More sharing options...
SLUSHIE Posted June 28, 2006 Share Posted June 28, 2006 ^ Attempt at quoting - unsuccessful. Link to comment Share on other sites More sharing options...
Jon Sabo Posted June 28, 2006 Share Posted June 28, 2006 Yes. I know..lol I didn't want to post the entire quote, but at least refer to the person who wrote it. Oh well. Link to comment Share on other sites More sharing options...
Tiburon503 Posted June 28, 2006 Share Posted June 28, 2006 Yes, I purposely stole that bit from Cuban. He's on the money with that statement. It's tailor made for Mr. Shapiro and Mr. Snyder. Link to comment Share on other sites More sharing options...
speedracer Posted June 28, 2006 Share Posted June 28, 2006 Here's a few slivers of hope: Â But don't expect housing to be built on the park anytime soon, Kyser said. Recent development projects have run into roadblocks concerning traffic and water issues, and community opposition, he said. Â "In most people's viewpoint, any new development in Santa Clarita is overdevelopment," he said. "Because they've seen a lot of rapid growth and they don't like the result." Â http://www.dailynews.com/santaclarita/ci_3973919 Â And: Â NEW YORK (AP) -- In a June 22 story about Six Flags Inc. mulling options for several of its theme parks, The Associated Press reported erroneously that the company may explore closure of the parks. Â Instead, if Six Flags cannot sell the parks, the company will consider selling the land for real estate development purposes and then dismantling parts of the parks and redeploying them for use at other Six Flags properties. Â http://biz.yahoo.com/ap/060623/six_flags_parks.html?.v=1 Link to comment Share on other sites More sharing options...
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