Posted Wednesday, November 2, 2005 7:25 PM | Contributed by coasterguts
Diaco Investments LP, which holds a 9.8 percent stake Six Flags Inc., said in a regulatory filing on Wednesday that this is the wrong time to put the company up for sale. Diaco said it intends to grant its consent in favor of Red Zone LLC, an investment firm owned by Washington Redskins football team owner Daniel Snyder.
Read more from Reuters via Yahoo.
*** This post was edited by coasterguts 11/2/2005 9:45:51 PM ***
Charging more for "premium" parking may work for the NFL, but not the amusement park industry.
I'm not sure if it works or not, but many amusement parks have premium parking policies. Six Flags Great Adventure, Universal Studios Florida and IOA are parks I visited this year that offered premium parking. There are always people willing to spend more for premium service, so they should implement this in any park that can garner enough profit to pay for the additional routing and staffing requirements.
Hersheypark (yes, I know, not a Six Flags park) is probably the best candidate for premium parking, since the parking lot design means that there are limited parking spots in close proximity to the park gate. I can't think of a smaller park that operates a parking lot tram.*** This post was edited by greatwhitenorth 11/3/2005 9:10:02 AM ***
Just to be fair and I'm not pro-Snyder. I don't think we've seen Snyder's ideas just the ones Six Flags "says" aren't working and wants us to see.
*** This post was edited by coasterguts 11/3/2005 9:13:30 AM ****** This post was edited by coasterguts 11/3/2005 10:42:10 AM ***
Instead there's a whole lot of talk like "ability to enhance the share value," "...our sales process," "potentially destructive of shareholder value," "obtain maximum value for all Six Flags stockholders."
It's pretty apparent where the present and potential future mindset of the company is. The only difference is between the devil you know and the one you don't. No matter which side prevails in this battle, and whose "vision" is implemented, I think that any improvement in the experience for the average park-goer will be totally coincidental, or at least will be well-financed by the customers.
First before I respond let me say that I work for a company that sells to Six Flags and I have personally met and or spoken to middle and senior management staff members at Six Flags headquarters in Okalahoma. In short let me say that I was not impressed. The current Six Flags management is similar to what you what see at a government contractor supporting an overbudget mediocre government project. They lack the vision of it's individual park managers and more importantly fail to understand the needs of its customer or consumer. For those of you who have never worked in the government sector this comparison is far from a compliment to Six Flags, Inc.
As for the potential hostile take over of Six Flags I say let RedZone LLC take a shot. I say this both as a customer / park patron, but also has a professional in the business sector. He can't do any worse than the current team, which in my mind has slowly ran the business into the ground. Keep in mind that the primary goal of Six Flags sellling the company is not what's good for the park, the rides, or consumer, but what is good for the stock holder or more importantly individuals within the management ranks that stand to loose or gain during the sale or acquisition of Six Flags (i.e. employee stock options). I am not saying that Mr. Synder has all the anwsers, but what I am saying Six Flags currently lacks the vision and the ability to be successful and you should take whatever they release in public with a grain of salt. It is very obvious the current senior management team is ineffective and what Six Flags needs is fresh perspective from those who have not drank from the Oklahoma punch bowl. Also one other reason I site Dan might be the man, he sees the value of not randomly selling off Six Flags assets, such as Astroworld in Houston. Six Flags goal of selling this 36-year old park has nothing to do with its operations or profits (which have been hampered by Oklahoma), but how it can make the stock holders a quick buck by selling the demolished property to the local area sports authority or developer.
Anyway anyone interested in reading about that fiasco can read all about it on http://www.saveastroworld.com. It is not my site, but it does link you to a number of other coaster related sites.
*** This post was edited by Services_Manager 11/21/2005 12:38:13 PM ***
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