Shapiro knows what it takes to turn the parks around, that's for sure. But so does everyone else, and unfortunately, knowing is only half the battle; turning that ship around is the hard part. And in doing so, it's going to be tricky to draw in families AND keep the teens happy. I've said it before, rides like the Tony Hawk spinners cater to both audiences, but they need to keep adding rides, attractions, and shows like that. Most of the bigger parks have enough coasters (and there's not really anything exciting coming up that Six Flags is going to miss out on, that they haven't already got... well, save for mini-Ka's).
As I've said, I'm willing to give the guy a chance, but if they're going to "execute," it has to be at every park, not here and there. The company was already doing that in many cases, where you'd hear glowing reviews at SFGAm and nothing but complaints from SFGAdv.
I think he did say that, just not in those words. He basically said we're going to fix it. By saying they are going to fix it, he is implying it's broken. Shapiro has said several times the brand is damaged beyond what they ever believed before they ever bought the parks. He also said the value of all the land the parks are sitting on is enormous.
I havent ever seen Shapiro before and in that picture he looked very young, I always pictured him some old man...
Shapiro is 35. :)
More on Cramer
Oh man that article gives me goosebumps:
"Some businesses are so reprehensible, so impossibly exploitative that they simply must be bought. Okay, that may not sound like sage investment advice, but given the Bush administration's wanton embrace of corporate interests, investing in a portfolio of companies you couldn't stand to work for without having a camp-guard mentality, a collection of stocks so motley in morals on the face of it, might be a solid bet right now. In a country where the top 1% of households controls 57.5% of corporate wealth, if you aren't thinking about ways to profit from our squeezed middle class, if you are still stuck in the mindless chasm of politically correct investing, you could be leaving fortunes on the table."
There simply aren't enough smileys in the world to express my hapiness with Jim Cramer.
The fact that Shapiro is young has always made me wonder. I mean, he's two years older than me. I don't know anyone my age that I'd trust to run a public company. Then again, at age 27, I felt better qualified to run the public company I worked for over a bunch of guys in their 60's. :) I guess it just depends on the situation.
Yeah, but that's exactly what I find interesting. Like you said, he's basically our age. He's a guy that under different life circumstances, could be someone you or I could (in theory) hang out with. Like if one of my buddies happened to have a seven figure job as CEO of a theme park chain. How screwed up is that?
It also means he was even younger when he kicked ass at ESPN.
I'm willing to cut Shapiro some slack because he inherited a company in total disarray. It will take time to turn Six Flags around because it was such a mess. However in the interview with Cramer, he basically promised that SF will turn around this year. That sounds like an impossible promise to make, but now he stuck his neck out and promised to deliver. If he doesn't follow through with this promise, he'll find himself in trouble and people will lose all hope for SF.