And I think it's a really good time to buy Six Flags stock now if you are into that sort of thing, because I think it's going to definitely rise during the next months and years - after all these confusing news, the stock is really low at the moment. :)
*** Edited 6/26/2006 3:56:26 PM UTC by superman***
Where does Lance come up with that crap? Shapiro knew that this would freak out investors, but said it anyway, probably knowing Wall Street's reaction would not be good. Tanking your stock (and your boss's stock, i.e., Snyder) isn't something you do for a "har har, just kidding" chuckle.
I think the main point of this article is that the CEO of the company is using press releases like the latest one to its best advantage, even if the release doesn't accurately reflect the intentions of management. This sort of thing happens in business, whether or not it is the case here I don't know, but it would be interesting to see. I do know that Shapiro shared some very harsh words about the park. If they intend to sell the park (possibly to another operator) would you really expect the CEO to bash the park so much? If you were selling a car, would you tell people how badly it runs?
If Shapiro wants SFMM to be sold, then he'll sell it to whoever will give the most money. That being said, I know that as someone who's never been out there before, I would like to get out there before anything happens. If people think like me, I could see the attendance being boosted slightly once any official announcement of a pending sale is made, especially if the sale involves the land being zoned as residential land.
It's an interesting theory. Snyder was able to use the stock dive to pick up more shares. Now, it's questionable ethics to use the ceo of a company to release statements with the intent of driving the stock price down if indeed Shapiro is in Snyder's pocket.
Assuming SF stock recovers their price in the next year (and some of the parks are off to good starts for the summer - SFMM, SGADV, SFOG) and if the scare tactic works for SFEG and the other parks that may have nothing new to draw in crowds - the chain could put up some good numbers later in this year.
Again, you can make terrain, and you can build new supports. Nothing is impossible. I think the Electric Light Parade comparison is a terrible one. I don't think too many people at this point are feeling all that nostaligic for SFMM in its current state, and the way it has been for years under the old management.
How bad is the shape SFMM is in. I haven't been there since the ACE spring con in 97. It seeemed a decent park then maybe needing a few more flats but still nice. I do know that from a distance in only seeing pictures of the park that some of the beauty is gone. By that I mean Goliath being built over top of Collosus and Tatsu over Revolution. Is this park really in such shape that scrapping it is a good idea.
It seems that its problems could be fixed by instituting a few changes like no one under 18 without an adult , lower prices so that they are family friendly and some family rides.
If it were mine I'd sell Deja Vu,Scream, and Flashback and use that real estate for family attractions. Nothing against those rides but they are the easiest to get rid of. X might also be on the chopping block if its reliability is still bad.
Lord Gonchar said: Is it really that hard to believe (even for coaster enthusiasts) that SFMM was not doing good business?
I find it harder to believe they were doing good business.
Bullseye. Pure bullseye.
Besides, they're doing this to save the other big parks. Would you rather see SFGAm, or SFGAdv go instead? Thinking about the family atmospheres (Shapiro's Disney theory) of the Six Flags parks, Magic Mountain is the most lacking in this family atmosphere. Great America's family atmosphere is thriving, and Great Adventure is getting there. Magic Mountain has reached an all-time low in this area - and technical areas...
Flashback hasn't run for three years. Revolution is often plagued with problems, and it's reputation with coaster enthusiasts seems to be getting lower and lower with each year. Ninja often has technical problems, and is often closed due to wind. Psyclone is a monster anyone is crazy to ride, and often has technical problems. Deja Vu often has technical problems, and hardly ever runs. Not sure, but Riddler's was down for awhile. Superman only runs one side lately and is often down as well. Also not sure why, but Canyon Blaster was down the other day. Probably just for maintenance, however.
The park seems pretty far in the hole, now that I speculate it. I sincerely disagree with most of Lance's statements made in his opinion paper.
Sure, because we all know corporations dealing with figures in the billions will base their business decisions on an online petition ;)
IF the possibility of SFMM being sold is a mere bluff, then it's a really short-sighted one. Ok, let's see, the park has lost customers over the years due to various problems. They drum up business short-term with this supposed bluff, while not correcting the problems. People come in because they're afraid the park is going to go away, take a look around, are reminded why they stopped going in the first place, and the park has accomplished nothing.
Changing Six Flags into a Disneyesque theme park would be like taking Sears and converting it into a department store that sells designer label clothes to teens and young adults.
It cannot be done! the stigma is already established! a teen would not be caught dead in a Sears store even if its just to go washroom. People would never notice even with advertising because the brand and the stuff they always used to sell is stuck in their brains forever
Same thing with Six Flags people think high thrill amusemnt park always have and always will even if they change it and advertise it. even if they sell and dismantle Magic Mountain! Six Flags and high thrill will be in peoples minds forever no matter how Shapiro may try to brain wash people.
I agree with Jeff. Tanking your stock is definitly not something you do for the heck of it. Especially when it takes something like a 40% dive over the course of a day or so. The big thing I see is even if this whole idea of making the sale to help get rid of some of the debt it is the wrong way to go about it. Even if you get a really good deal for the land and play all your cards right you are barely going to make a dent in something like a 2.5 billion dollar debt. Business 101 is using the assest you have, putting them to work, and getting them to make you some money. SFMM is one of the chains larger assest in terms of land / rides, selling it can only hurt you. Mind you this coming from someone who does not particularlly like SFMM, how its run, or any of the experiences i have had there. But selling it off is not the way to go.
Well he got a couple million for the wyandot sale, but he is gonna have to find a serious taker for some of the other parks at this point, because one major holder of parks is outta the market. So he might have to push hard for many years to sell off parks. Magic Mountain is gonna be a hard property to sell, unless a group such as disney, busch, or cedar fair buy because these companys are the only ones that really have the money or attention to care, but i doubt any will but because they have claim to parks in the area right now besides busch, but then its a buzzsaw of competition because the other two own a park out there. So Shapiro needs a miracle out there.
As for elsewhere it seems an unlikely move for years, because these owners are doing more with what they have and would more than likely spend money within what they have then purchase more at this point. Cedar Fair is obviously outta the running, but i dont see the other two jumping quickly here either