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Six Flags Conference Call Details, 6 Parks Possibly For Sale


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If Robb and Elissa are going to plan the SFMM-Sale party, does that mean that everyone are going to hold hands from East-to-West coast (similar to the movie Grinch Who Stole Christmas) and sing songs?....(insert tune here).....

 

"Yaa yeee yoooo...See ya Tragic Mountain (it blows)..la di da".....

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As far as I remember (Which can be quite fuzzy)-

 

The lump sum payment due in 2008 is a whole payment debenture based upon the Premier Parks takeover back in 1998- A secured note due in 2008.

 

Another point from soemthing I read earlier in the post Re: New rides and closed parks (I think it was on Tatsu...)

 

Opryland USA installed Hangman just prior to the park being closed and turned into a mall (Opry Mills, where you can still see the old River Rapids ride while walking between Opryland Hotel and the mall)

 

In any case, they've paved paradise, and put in a parking lot (next to the shops, shows and restaurants.)

 

Six Flags inc is deep DEEP into the red-ink with the massive debt overhanging it right now. Massive expansion and the first round of 'flagging' some of the smaller parks was beneficial to certain parks becoming real leaders in the chain, but came at a very steep price when money was already becoming tight (interest rates) While it brought AdventureWorld out of the dust, as it did to a few other parks, they should have slowed down their growth plans a notch or two. But that's saying that hindsight is a perfect 20/20.

 

Right now they've got to concentrate on servicing the debt to satisfy the banks which hold the loans, and QUICKLY. I cannot emphasize that enough. Cedar Fair's takeover of the Paramount Parks chain will put a squeeze in certain markets (Say, for example, the SF bay area or Washington DC) where they (Cedar fair) can and have the ability to build newer and larger crowd draw attractions. This could cause some serious grief for SFInc in those markets.

 

Bankruptcy is not a realistic option. Although it can bequick and effective, the reconstruction of the bankruptcy laws this year make it difficult to come out in the same way now (Look at how long United and USAirways spent in bankruptcy court) If you realistically think about it, if SFInc were to go into CH. 11. think about how many parks would be sold off to the highest bidder (and not necesarily Cedar Fair;) and how many would not see the light of day again. If you think that losing SFMM would be bad, imagine how people in other markets might feel- parks where land is already at a premium due to city expansion would most certainly get the ax first, as land values would be much higher. Some of the original parks could see the end of the line as well- imagine a 'last day' party at SFOG, for example, where the encroachment of people could easily spell the end of the line.

 

SFInc needs a real leader here, not just a 'sell-this, sell-that' kind of person. Selling off parts just reduces the available equity the company has for a quick fix of cash right now. While this might bring down the debt, it also puts revenue in jeopardy as some parks generate quite a bit of cash. This is very remiscent of what happened to America's first Airline- Pan Am. They had a great cash generator in the Pacific division- but hocked it to United in 1986 for cash. United survived (as a whole until 2001) but Pan Am was gone by 1991.

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Well perhaps I stand corrected as far as some of my comments are concerned...

 

Shapiro said that SFMM didn't fit into his new image of a family park. What I was trying to say earlier is that a good 50% of a family friendly atmosphere is generated by staff, and that I was upset that he has mentioned very little about the staff.

 

Well, supposivly he has had independant companys come in and survey all of the parks, and in one of the surveys regarding guest service, SFMM came in near to, or immediately in last place in the chain. On any other day, management would be like, "shit happens!" and thats the last we would hear of it until the next survey that says we're crap.

 

But now that Shapiro has shown that he's not afraid to actually sell off the park for mere real estate, the management has now actually been scared about what psyco-Shapiro could do, and are busting out a metaphorical diaper on us to catch that crap they just took in their pants in fear. That metaphorical diaper is coming in the form of the "new program"...a new guest service program/philosophy that the supervisors are all now imposing on us with urgence. Its a compination of Shapiro's guest service wishes and the managements own self-analysis.

 

So yay...we actually made an effort towards guest service.

 

 

 

 

 

How long will it last? Probably about a week or two, as they might bunt, but they never follow through. But for perhaps another post.

 

-Jahan

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duh, everyone knows working in a theme park is lucrative and very specialized!!

 

lucrative and specialized, like, say, paper filing? Or lucrative and specialized, like, say, the 500K Jack Falfas got for running KBF into the ground?

 

-Joey (who thinks SF isn't really going to sell SFMM, but has to announce the possibility as a way of letting creditors know they will sell if there is no other way to pay up)

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Who here thinks that this website could actually save Magic Mountain?

 

 

Anyone???

 

 

Didn't think so. I wouldn't wast your money on a shirt, as it really won't help (unless you like the shirt...).

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Who here thinks that this website could actually save Magic Mountain?

 

 

Anyone???

 

 

Didn't think so. I wouldn't wast your money on a shirt, as it really won't help (unless you like the shirt...).

The same was done for Astroworld. Save this, save that, the only thing that was saved was the bridge!
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I can't believe I am bumping up on posting on this thread, but here is a recent article written on July 2. Although most of these issues have already been addressed, it does provide some insight on the general thought on "why" Shapiro wishes to unload the park (and perhaps its future site plans).

 

 

Credit link: http://ktla.trb.com/news/la-me-magic2jul02,0,4955031.story?coll=ktla-news-1

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Needless to say, this is like a nightmare. I looked at that link for the 'other shirts' (not savemagicmountain.com), the green ones with 'SAVE THE MOUNTAIN' on the front. Sure, the quote is rather durastic sounding, but IT'S TRUE! I just hope we don't end up with a Marineworld type of situation on our hands...

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^LOL

if sfmm becomes a freeway

 

DAD:lets all go to magic mountain next week.

 

SON:dad didnt you hear they turned it in to a big freeway?

 

DAD:well lets go to bakersfield and go cow tippin.

 

SON:cool dad your the greatest.

 

 

Chris,save the mountain OR ELSE,-O

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