6 Flags seeks Chapt. 11 bankruptcy protection

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.)
 

bcp

In My Opinion
maybe they can get a bailout and obama can madate our entertainment needs along with our driving, energy, food, habits, housing, banking and credit.

seems like a good addition to his dynasty
 

hvp05

Methodically disorganized
It always seemed to be as good for the money as King's Dominion or the other parks.
I think the comments in that related thread would disagree on this. When I wanted to go to a park, I would always choose Busch Gardens, King's Dom., or Hershey over 6 Flags. Which begs the question: how are those other parks faring in this environment?
 
T

toppick08

Guest
Been to both the parks in Georgia and Texas, many years ago, and they were both nice...:shrug:........never been to the old Wild World location.
 

Mike

F*** Socialism!
I think the comments in that related thread would disagree on this. When I wanted to go to a park, I would always choose Busch Gardens, King's Dom., or Hershey over 6 Flags. Which begs the question: how are those other parks faring in this environment?

I just hate to see any of them go bankrupt. I think the sagging economy is playing the biggest part in their revenue loss. I imagine all the big parks are being hit hard. Seems like they are all offering some "two-fer" deal or admission reduction promo.

There is probably a fair amount of mismanagement, in which case failing is an option. I would just hate to see the one local to So. MD close condidering there are so few places for kids to go around here...
 

SG_Player1974

New Member
Six Flags seeks Chapt. 11 bankruptcy protection - Yahoo! News

Like all those type parks, things are overpriced and......


Here we have our answer. The retail sales at establishments like this are outrageous!! Admission is somewhat inflated however, when you take a family of 4 to the park and have to spend $75 to eat lunch, that is just ridiculous! It is along the same lines as professional sports. You pay $300 for tickets and then you have to pay $30 for a hotdog and beer!!!
The sooner these types of entertainment establishments realize that the over-inflated admission and concession prices just wont fit in todays economy, the sooner they will be able to keep their companies out of bankruptcy courts!
 

Mike

F*** Socialism!
Six Flags seeks Chapt. 11 bankruptcy protection - Yahoo! News

Like all those type parks, things are overpriced and......


Here we have our answer. The retail sales at establishments like this are outrageous!! Admission is somewhat inflated however, when you take a

I, like you, believe these prices are too high. But they post admission signs at the gate - and let's face it, if the prices were cheaper the lines would be longer and I'd bet the criminal content inside would be higher. I'd be willing to pay more for less time in lines, more on the rides. I never take the family to these places expecting a deal. It always pizzes me off to pay for parking to go in and blow a wad of cash.:bigwhoop:

I heard a story on Fox over the weekend that the bankruptcy comes after a year of record setting attendance.

That obviously points to mismanagement of the parks - we know they probably are not paying the kids working there much salarywise. Given the last few horrendous accidents at 6 Flags, their lawsuit insurance must be shy-high.
 
Top