Mike
F*** Socialism!
The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the operation of its 20 theme parks in the U.S., Mexico and Canada.
Six Flags says it actually had a great year in 2008. It saw 25 million visitors and posted record revenues. But executives are trying to lighten a $2.4 billion debt load that they say is unsustainable.
Saturday's bankruptcy filing came after an earlier plan to negotiate an out-of-court deal with creditors failed.
Six Flags shares have traded below $1 since September. They closed at 26 cents on Friday
Six Flags seeks Chapt. 11 bankruptcy protection - Yahoo! News
I haven't been to one in years. Like all those type parks, things are overpriced and the lines are too long. But my boys sure enjoyed it when they were younger. It always seemed to be as good for the money as King's Dominion or the other parks. Another American icon falls due a poor economy being made only worse by the Socialists running the country (into the ground.)