It made a Chicago paper which surprises me in itself.
My favorite MJ tune: "Billie Jean" which I have been listening to alot now. RIP MJ.
NOT PROFITABLE ENOUGH FOR A COREPERATION!
I can't believe they'd publish the asinine claim that the park was bought to be closed, so Cedar Point would make more money. It's like saying Toyota will stop making the Camry because it's cutting into revenue from the Corolla. Stupid.
The Toyota Camry is a mid/full size family sedan while the Corolla is a small/mid size sedan aimed at younger people and those that can't afford a Camry. The two cars compete in two different parts of the market, while Cedar Point and Geauga Lake competed in one market. Besides, Toyota isn't going to kill off either of its most popular models, despite the fact they're both snoozefests. It's not unreasonable to think many people in northern Ohio made a decision at some point... the decision being Cedar Point of Geuaga Lake.
*** Edited 10/25/2007 1:40:04 PM UTC by Rob Ascough***
I guess there will always be some people who can't or refuse to "get it" and some that do.
Seriously, Cedar Fair failed, and that's that. Probably the only thing everyone can agree on is that it's time for regime change.
Kinzel's name is synonymous with Cedar Point- he's going to go down in history as the man that built the park into one of the largest regional theme parks in the world with rides like Magnum, Raptor, Millennium Force and Top Thrill Dragster. I think he felt Geauga Lake to be a threat on some level and that guided many of the decisions made with that park. Maybe I'm way off base, but unless someone's figured out a way to get inside the guy's head anything is possible. There are plenty of CEOs driven by ego- Jobs, Eisner, Weinstein and Welsh are just a few that come to mind. And when you're at the top, it's easy to pass off ego-driven decisions as ones that make sense.
* edited to denote that some folks don't have an off-season *** Edited 10/25/2007 2:20:42 PM UTC by ProgRay***
For fun, imagine the business case. First off, you'd just close it, not "pretend" to try and run it for four seasons. After all, public companies don't exist to pacify hurt feelings.
Second, there's no business case for it. Tens of millions of dollars worth of interest payments for the financing, along side millions of annual taxes, plus the operating loss itself, is not going to justify even 200,000 extra guests at Cedar Point. Besides, we've been over it many times that CP's best years in recent memory were 2000 and 2001, the same years that Six Flags had their highest count. Clearly people do not go to one place or the other.
Yeah, it's easy to pass off decisions as ego driven, but in this case not beyond the original purchase driving that ego.
Oddly enough, in the interview I did with Kinzel in 2000, he said:
A lot of people think we put the rides in because of ego, to say we’re the biggest and the best, but that’s not really the truth. The truth is they’re good business decisions to put those rides in, and the timing has to be right.
Cedar Fair is selling it for the same reasons the other groups sold it. They are able to make more profit from selling it than operating it. That doesn't mean they didn't make a profit operating it. It just means they made MORE by selling it.
You must be logged in to post