UPDATED: Large investors not happy with Six Flags performance
Posted Tuesday, August 31, 2004 4:05 PM | Contributed by coasterguts
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.
Well, if there ever was a big spender in the world of sports (next to Steinbrenner and Jerry Jones) Snyder is it. He thought that just by "buy" high-priced players would led the skins back to the super bowl, think again money boy. I wouldn't take any advice from him and if they did, I would take it with a grain of salt.
Guess only time will tell to see if Snyder's "influence" will either help or hurt the company
hey, as long as he has Gibbs as team president, he cant screw up any more freaking draft or player calls.....he should have let the coaches run the team for the last decade, maybe we would have one some games!!!
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 don't even think it matters what kind of business man he is as along as he can put pressure on the company to shake up its management. Let's be realistic here, the Burke way isn't working, and it hasn't been for years. Any large stake holder should be making noise. Bill Gates' holding company is another that should be up in arms.
I don't know if Synder got Joe Gibbs out of retirement or if Joe Gibbs wanted to come back and coach football. Dan just provided the money to make sure Joe came back to the skins. Regardless... Dan Snyder is brilliant at marketing. His marketing talent has made the Redskins one of the financially stronger teams in the NFL. He owns a stadium capable of holding 91,000 people. The biggest in the NFL. However, you have to pay $25 per parking per game and one has to wonder if we will be paying $5 for Hot Dogs, $7 for Beer, $3.75 for soda and $1000 for Season Passes before long.
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 ***
Anything has got to be better than Burke and Co. I'd say give the guy a shot, he is obviously seeing oppurtunities that are being missed and fills the chain would be successful if they would use those oppurtunities. When he bought the Redskins, he was the youngest owner in the NFL. He owned his own marketing company prior to becoming an owner. The guy hired Joe Gibbs because he wants to win. If you could, he would hire Dick Kinzel as the turn around specialist for SF?
*** This post was edited by coasterguts 8/31/2004 1:06:24 PM ***
Yes it is impulse-ive. He went out and hired what he thought was the best talent that could field a winning a team. Each one of those coaches said they could do the job. He gave Steve Spurrier a good set of talent, he couldn't do the job and now he is watching from the sidelines. BTW, a good part of the team Snyder hired is still with the Redskins this season.
Isn't everyone acting a little silly by thinking that this is going to have some kind of impact on the operation of the company? Everyone thought the same thing about Gates and we all know that his purchase really didn't mean a whole lot when it comes to how the company operates.
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 ***
"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.