COrporations and contracts go about as far as how much $$ is comming in. If SFKK wasn't turing a profit, they'd high tail it and the lawsuit would be cheap in comparison.
Notable quote for me: "Six Flags officials, who want to cut loose one of the company's three advertising agencies, plan to reduce radio spending and concentrate more on Internet-driven opportunities that will attract more teens."
So family-friendly only lasted 2 years, and it's back to those undesirable teens who don't spend money?
Charles Nungester said:
Bankruptcy? After you screw B&M and all the other manufactures out of millions owed them. Who you ever gonna buy from again?
Correct me if I am wrong, but doesn't SF borrow money from banks to pay off the cost of capital assets? I really don't think B&M and other manufacturers accept payment plans.
My favorite MJ tune: "Billie Jean" which I have been listening to alot now. RIP MJ.
Charles Nungester said:
They were contractually required to operate SFNO too, Like that matters?
Of course it matters. They are still paying the city $1.4 million per year in accordance with the terms of the 75-year lease, even though the park is not operating.
Some companies will enter into leasing agreements with financing /leasing companies. FITRALCO (sp??) comes to mind, as they were the actual owners of the S&S tower complex at Jazzland , they leased it to the park. The ride even had a plaque on it stating that fact, (like in case the park goes ro Sh@t, this is ours, you can't sell it.) *** Edited 1/29/2008 5:02:40 PM UTC by CreditWh0re***
This helps give security that the rides will be functional and such at opening and for some time after. If theres a lot of issues still, the company can hold the final payments until it is worked out.
If they were to sell the park, I could see a lot of the rides being moved elsewhere or sold, as SFA doesn't have a lot of terrain.
Their plan now appears to be to attract more teens. This company is doomed.
If you do that, than you have to tear down a lot of Six Flags rides, and build a lot more rides just for families. That's just stupid. Teens have money someway, and somehow. They can get a Wii that costs $300 or something like that. Why can't they buy a $125 season pass? Oh, yah I forgot that most of them are around $70. They are at the mall on Saturdays. It's crazy in those malls, and they don't look like they are dressed down. They are spending money!!
I think people confuse Six Flags with vacation. A day-cation is a whole lot different than a vacation. On a vacation, families are really willing to fork over the big bucks. If you just want to go to a Six Flags park for one day, it might not be an all spending money buffet. "How dare Six Flags put that Thomas train store after my kids ride the ride so they want me (the particular mom) to spend money."
Sea World is there but many people in San Antonio have no problem going to both. Sea World offers a different experience... additionally SFFT has broad appeal because of its well-rounded showcase of rides, great theming, and award winning shows. FT is the best show park SF owns, and one of the best show parks in the country.
SFFT has been dealing with Sea World, even Schlitterbahn competition ever since it's been around and has been doing well. Shapiro likes the park too (Might not mean too much if they boot him)...
One interesting thing, though. When Fiesta Texas was built in the early 90's it was a joint venture between USAA and Gaylord Entertainment, back when Gaylord owned Opryland. FT was themed as a "destination market musical-show park." USAA was built the property in an old rock quarry (la cantera) as part of the development of 1,000 acres they owned in Northwest San Antonio. USAA never meant to operate the park for too long... it was just an investment.
Gaylord and USAA would be out of the park by 1996, when Premier took it over (Six Flags). In 1998, bought the park and added some flats. In 1999 Fiesta Texas set a world record for industry growth, and added upwards of 15 rides including two coasters, an S & S combo triple shot tower, and many others.
In January, 2008, Gaylord purchased the Westin La Cantera resort, located just over the cliffs looking over Fiesta Texas. The La Cantera resort is something like 600 acres. Gaylord bought the property for 250,000,000 dollars. They are investing an additional 250,000,000 on improvements on an already 4 diamond resort.
Now, to my point... If Gaylord made an offer for Fiesta Texas, pledging to run it as is (no removal of rides, just take over management basically), I think Six Flags should accept the offer. The resulting 800 acre complex, would revile Sea World, and anything else seen, amusement wise, in the entire Southwest.
The infrastructure is already there... maybe its just in the wrong hands. *** Edited 1/30/2008 6:26:04 AM UTC by coasterghost***
If It Ain't Broke, It Must Be Fixed
Six Flags New England (sell)
SFNE is consistently a top-performer in the chain (and Mark Shapiro's favorite park).
As for Six Flags New England...I withdraw my comment to sell. I admit I am not very familiar with that park.
Basically its going to come down to parks that have a good balance of population market, roller coasters, family attractions, shows, expansion space, reputation, etc.
Just the viewpoint of an enthusiastic economist... ;)
Six Flags America
Six Flags St. Louis
With La Ronde, Kentucky Kingdom, and New Orleans not being able to be sold, the top ones are what I believe the least attended especially Great Escape. SFStL, and SFA have tons of land available for sale if they sold them.
Of Shapiro might do something stupid, and sell only the bigger parks because he figures they are worth a lot more money.
Magic Mountain is a case in point. Six Flags could never convince anyone to pay what they wanted for such a dud of a park and everyone knew it was a dud and wouldn't come near Six Flags' offer.
On the other hand if you take a real winner like GAm of FT, there might actually be a buyer willing to part with some meaningful cash from the sale.
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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