Six Flags thriving in down economy despite possible bankruptcy

Posted Tuesday, March 31, 2009 9:43 AM | Contributed by Jeff

Six Flags, which touts itself as "the world's largest regional theme park company," thinks that even in this down economy, it's doing okay. But at the same time, it's on a possible track for bankruptcy.

View the video from CBS News' Early Show.

Tuesday, March 31, 2009 9:52 AM

This is a pretty good clip to watch. The reporter puts Shapiro on the spot about the debt.

I have to say, this piece made me realize just how far Six Flags has come in the last few years, and it's a shame that they're still having to deal with The Burke Factor.

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Tuesday, March 31, 2009 1:28 PM

I never really knew just how much Six Flags was able to turn things around, but with that statement about turning a profit I do hope that they are able to pull out if this just fine.

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Tuesday, March 31, 2009 1:44 PM

Awesome story. I'm still gay for Shapiro.

That video story makes all the naysaying on forums like this seem really out of place in contrast. The complaints and supposed issues just aren't real world scenarios in most cases.

Contrary to what pretty much everyone thought back in 2006, with the exception of a few who 'got it' (smile), these guys made all the right moves and it's showing as they begin their fourth season at the helm. If they just get through this debt thing they inherited, SF has it going on like never before and possibly like no one else currently does.

The company at the end of this decade is an entirely different beast than it was during the beginning years of the decade.

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Tuesday, March 31, 2009 4:25 PM

I also watched this video, it shows you two major things that are going on with six flags. You are looking at a very optomistic ceo, who seems to be the right guy for the job. I had never really seen much of the guy and you hear about all the bad press they get. He must be doing something right when he for the first time in the 40-some odd years that they've been a company they actually turned profit last year. Sure some of his business strategies have hurt our wallets, but he getting people to spend money there regardless. He also seems very genuine about wanting to keep running with this job.

I also look at the employee spotlighted on the show. It shows how much our economy is down when a woman has a professional job and has to work at an amusement park to make ends meet after she loses her other job. I take the idea that she is very serious about the job, but now overhead restucturing and bankruptcy could cost her job again possibly.

That piece was actually one of the better news stories i have ever seen on amusement parks. Sorry Jeff, the announcement of maverick finishes slightly second for me.

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Tuesday, March 31, 2009 8:05 PM

That was brilliant. It may have been a news clip, but it also served as a 4 1/2 minute commercial for Six Flags. Not only were the parks touted as an option for families who are battling their own economical challenges, but they also addressed the new management driven turn around at the parks.

Families who may have a bad taste in their mouth about prior Six Flags experiences could give it another try this summer.

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Wednesday, April 1, 2009 6:43 AM

They should send him to GM next!

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Wednesday, April 1, 2009 1:47 PM

Am I the only one who remembers an interview when Shapiro took over, that he was walking through SFOG and pointed at Goliath and said something along the lines of 'You won't see big rides like that anymore' because they don't have a good ROI???

And now it's 'his favorite' ???

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Wednesday, April 1, 2009 1:57 PM

I'm not sure what personal opinion has to do with business acumen, Rob.

As CEO he doesn't want to build those big rides because of ROI. As a guy riding coasters he likes it because it doesn't go upside down.

Now if it had said it was one of the best business moves the park had made - then he's being hypocritical. :)

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Wednesday, April 1, 2009 8:14 PM

Ok.. I'll agree with that, they are two different things but it's still just kind of funny.

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