Posted Wednesday, April 18, 2007 9:42 AM | Contributed by browntggrr
Summit supervisors gave unanimous approval Tuesday to a zoning change and subdivision request Sutterlin said was crucial to his plan to purchase the park land. The park needs the land sale money in order to prepare to open May 26. Summit’s zoning changes officially go into force Sunday, and the judge’s approval of the land sale is the next significant hurdle the park must clear to open.
Read more from The Meadville Tribune.
I believe this Sutterlin guy is the same person who bought Erieview's Frightzone for Conneaut. That tells me that he isn't just trying to scam his way into building condos but is actually interested in Conneaut Lake Park.
It's another band-aid for wound that's never going to heal.
My point is that they are not giving up areas previously used for amusements.
Chuck, who thinks if the debts are paid, this park has a opportunity to improve and grow some. Most of the debt wasn't incured by the current overseers and in some cases is more than ten years old and adding interest.
hopefully this will be the shot -in-the arm that the park needs to continue on.
tumble bug anyone!!!
I don't think it's the cure but it shure eliminates the NO POSSIBILITY of breaking even or making a profit.
That being gone is sure a step in the right direction.
Uh... isn't that what being profitable is?
The place doesn't have to be profitable. It only has to cover expenses...
It's not a charity. It's a business. Businesses that can't do better than break even cease to exist.
I don't see why every business has to be a profit machine. There are plenty of businesses that exist because the people running them have a passion for what they do instead of a drive to make heaps and heaps of money. Just the other day I read an article in Fortune Small Business about a former stock broker that made millions on Wall Street and is now running a small general store in Vermont. The business is currently losing money but he claims he'll be happy if it breaks even in the next year and keeps him busy in his "retirement". Obviously the guy, who knows how to make a lot of money, feels that a business venture of his breaking even is a good idea. I'm not going to argue with his logic, and I doubt that many people on this site have made as much money as he did and are in a position to tell him that he's wrong.
Sorry Jeff, but I don't think everyone subscribes to your logic. Not everyone's in it for the money... some are in it for the passion... the love... the enthusiasm. And as long as those people are paying expenses and drawing some kind of salary for themselves, they seem perfectly happy. Conneaut does not have to turn a profit in order to survive, it just has to pay the bills.
In the case of the Small Business guy in Vermont, he HAS money. He doesn't need the general store to be profitable, he's fine either way. But if he didn't have that security and was relying on the store to survive, he'd be a lot less carefree. In fact, the ridiculous profit he earned previously is the exact reason why he can be so nonchalant with the general store.
Same with an amusement park. Whether the owners are stockholders, corporations or a local family - assuming the lack of complete financial security - they gots to get paid. :) If the park supplies their income, then it is profitable and it's a business. If the park does not supply them income and they earn a living in another way, then the park is a hobby. Something they enjoy doing, but not their livelyhood.
Say a park like Conneaut does break even. By definition (to me) that means their revenue equals operating expenses. Anything extra (money for future Cap Ex, a 'rainy day' or whatever) is profit. A business has to be profitable in order to grow and to a lesser exent survive. Things that cost you money or at best, that you break even on are hobbies or interests, not businesses (or at least they won't be for long :) )
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