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Daniel Snyder, owner of the Washington Redskins football team, bought an 8.8 percent stake in Six Flags Inc. and said he hopes to influence management to maximize the amusement park operator's value, perhaps through a merger or sale, a securities filing shows.
Read more from Reuters via Yahoo.
UPDATE: Bill Gates' investment company, Cascase Investment LLC, is also unhappy with Six Flags' performance. That company owns 11.8% of Six Flags.
Read more from The Puget Sound Business Journal.
Guess only time will tell to see if Snyder's "influence" will either help or hurt the company
anyway...sorry about that....Snyder is, while a terrible interference sometimes to the team he owns, a very intelligent business man. so hopefully he can offer some help to the struggling Six Flags....
Tim....who can see it now, a new ride at SFA based on some kind of Redskins legend....lol :)
I was calling for Burke's resignation/dismissal last season and I second Jeff's call this seaon. The Burke way isn't working. Sounds like Dan Snyder has been to SFA recently.
*** This post was edited by coasterguts 8/31/2004 10:22:16 AM ***
This is the SOB that charges parking to the opposing team for their busses!
I can only imagine how much parking will be at SFA, 2 miles down the street it's $25 for the football game.
PLEASE NO SNYDER
Sam
A very intelligent business man hires the right people and puts the decision making in their hands. He doesn't try to run all aspects of a company when he knows nothing about said aspects.
It would seem to me that Danny boy is more of the "same old, same old" SF corporate mentality. If there's a problem, throw money at it. If that doesn't work, throw more money at it.
*** This post was edited by coasterguts 8/31/2004 1:06:24 PM ***
As someone already said, this'll be nothing more than same-ol-same-ol ... then again, we might see a few more $25-$50 million paperweights than we would have without extra financial backing ...
Edit: Okay, I did read in an article that he might seek a position on the board. However, what makes him any more qualified to direct a turnaround than Burke or any other finance guru already on the board? The one experienced theme park person helping drive the bus (Story) is no longer with the company.
*** This post was edited by bigboy 8/31/2004 2:27:11 PM ***
http://seattle.bizjournals.com/seattle/stories/2004/08/30/daily13.html
"The Wall Street Journal, citing unnamed people close to him, on Tuesday said Snyder believes he can help turn Six Flags around by revamping its marketing. They said this could involve putting logos, videos and product displays in parks, and issuing Six Flags coupons elsewhere."
Sounds like he's really got a great idea of what problems the company faces.
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