Six Flags CEO may get $3 million restructuring bonus

Posted Wednesday, April 15, 2009 8:09 PM | Contributed by Lord Gonchar

Six Flags Inc., the U.S. theme-park owner facing possible bankruptcy, set a $3 million “success bonus” for Chief Executive Officer Mark Shapiro, to be awarded if the company restructures its debt out of court or goes through Chapter 11 reorganization. The bonus is part of an employment agreement with Shapiro extended through April 1, 2013, Six Flags said in a regulatory filing yesterday. Five other managers also had contracts extended with such bonuses. The accords keep the base salaries at current levels.

Read more from Bloomberg.

Sunday, April 19, 2009 4:21 PM

If it is somewhere that I can visit 90+ times a year for 50 bucks, please tell me. I am from the southeast, and has to be enjoyable for my 15 year old daughter.....Thanks

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Sunday, April 19, 2009 6:38 PM
Carrie M.'s avatar

wild ride said:
I don't know how many times it has happened and neither does Six Flags.

Great, it looks like we both agree that you have no evidence for what you accuse Six Flags of doing outside of this story you tell.

wild ride said:


And you don't need to suggest that I work on anything. You should check your own grammar and spelling first........Peace

Riiiigggghhhttt. I will do that.

I was just trying to let you know that if you continue to offer up anal-rrific retorts to everything that challenges you, you will not last very long here.

You will get challenged on this site. Everyone does. It's how we end up having some really great discussions.


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Monday, April 20, 2009 6:57 AM

Not a story, I have all the fact's in black and white. I love a challenge, and will keep coming back with fact's. If that is deemed anal by you, then, I am sorry that you don't posses the skills to debate without launchung a personal attack.....Peace

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Monday, April 20, 2009 7:07 AM

wild ride said:
I can make that claim simply by looking at the numbers..... Pre Shapiro, stock trading at 12.00 plus per share, today, under Shapiro for 3 years .19. a 98% loss. Since the 1960's never once heard the word's bankruptcy and six flags in the same sentence. Go back and read what I said. No, the balance sheet is not Shapiro's doing, but as CEO it is his job to fix it, plain and simple. He knew it going in, and has not fixed it. I mean, that is why he makes the big bucks right?

Actually, no, pre-Shapiro was around 3 bucks a share. It boosted up to 12 bucks when Shapiro first got on board. Unfortunately, Wall street is not patient for a turnaround, so after time the shares dropped. You can't look at the price of SF stock to determine a CEO's worth.


My favorite MJ tune: "Billie Jean" which I have been listening to alot now. RIP MJ.

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Monday, April 20, 2009 11:40 AM
Jeff's avatar

wild ride said:
Not a story, I have all the fact's in black and white. I love a challenge, and will keep coming back with fact's. If that is deemed anal by you, then, I am sorry that you don't posses the skills to debate without launchung a personal attack.....Peace

What reality do you exist in, man? No one is personally attacking you, and you've yet to offer any facts.


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Monday, April 20, 2009 12:55 PM

I think all of us have either worked with or dealt with someone who made us think to ourselves "what (or who) did you do to get this job?"

On the idea of pay and performance bonuses-- churro guy knew going in what his pay and responsibilities were going to be. Unfortunately, there's not too much he can do above and beyond his responsibilities that would either make the park or the shareholders enough money to merit a performance bonus.

Now if a churro guy's park had a large increase in attendance or revenue, or if it won an award for best churros, or even if enough people went to HR and said churro guy is doing an outstanding job, then I'd say by all means reward him with a bonus or pay increase. But just to show up and do the job you were hired for, doesn't deserve a bonus, whether you're the guy selling churros or the CEO.

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Monday, April 20, 2009 1:24 PM
Jeff's avatar

It's not that simple. I've worked jobs where the bonus was part of the package. Some companies even spread the joy based on how the company performs as a whole (like a percentage of your pay, adjusted with a multiplier based on certain goals the company does or doesn't reach).

You have to pay talent to retain talent. Shapiro and his team, as best I can tell, are talent.


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Monday, April 20, 2009 3:55 PM

Not a story, I have all the fact's in black and white. I love a challenge, and will keep coming back with fact's. If that is deemed anal by you, then, I am sorry that you don't posses the skills to debate without launchung a personal attack.....Peace

Why would anyone bother to attack you? You're doing a fine job of discrediting your arguments all by yourself.

PS: the plural of fact is facts.


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Monday, April 20, 2009 4:03 PM
rollergator's avatar

^The plural of apostrophe is 's... ;)

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Monday, April 20, 2009 5:13 PM

Very good!!!! You get an "A" and a cookie today.

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Wednesday, April 22, 2009 5:40 PM
ApolloAndy's avatar

I especially liked the part where Wild Ride implied that if you don't agree with him or her, you're not patriotic. The logic is overwhelming.

Too bad I haven't seen Capt. Obvious in these parts for some time now...


Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."

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