Six Flags Corporate Discussion Thread

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby coasternut » Tue Dec 28, 2010 4:39 pm

Chroniq wrote:Of Note-- Screamscape reported that Six Flags removed all of the branding from Great Escape and intimidated that they were possibly prepping for a sale.


Was the misuse of "intimidated" a typo or a Freudian slip?? :p :lol:
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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby Chroniq » Tue Dec 28, 2010 4:47 pm

^lol .. Sorry.. I've typed intimidatour and intimidator too often on these boards..... I meant intimated.....


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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby ginzo » Tue Dec 28, 2010 5:06 pm

Chroniq wrote:Since statements without any proof are frowned upon here, I will share this.. I was told that the park is about to actively shopped from an executive of the Corocan Group. I'm told that this sale is not a fire sale and that Six will market it privately and only sell it if the correct price is found.


It's not hard to believe they would quietly try to sell some of the smaller properties. Maybe the Spanish are looking to pick up more American parks.

I'd be surprised to learn of efforts to sell the larger properties after the EPIC FAIL they had trying to sell SFMM a few years back.
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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby carolinacaniac » Tue Dec 28, 2010 9:53 pm

That would probably depend on the property they are trying to sell. I am sure that one larger park could be much more attractive than another could be. While I don't know this for sure, I would almost guess that SFOG could get a better asking price than SFMM since it is more well rounded of a park, and from what I saw in my visit to SFOG (havn't been to SFMM yet), it seems to be a better park in general. SFOG also does not have the competition that SFMM has, as it can pretty much hold its own on the Atlanta market, while SFMM competes with Disney, Sea World, Knott's and Legoland for the Southern CA market.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby John Knotts » Tue Dec 28, 2010 11:17 pm

^ yeah I'd be willing to bet that Six Flags wouldn't get a single offer for SFMM, and it has nothing to do with the quality of the park. First, they wouldn't get anything close to what they would want for it, and the city would fight them tooth and nail the whole way. Shipiro already tried it, and got his A$$ handed to him. His tune change real quick soon after that. At this point both SFMM and SFOG are parks that they should definately want in their line up, along with SFGad, SFGam, SFDK and Texas. I also don't think SF could sell of SFOG even if they wanted to.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby CoasterGuy06 » Wed Dec 29, 2010 12:16 am

Six Flags doesn't even own SFOG or SFOT...

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby jedimaster1227 » Mon Apr 25, 2011 7:55 am

http://www.businessweek.com/ap/financialnews/D9MP02600.htm

An arbitrator has awarded $23.65 million to the former chief financial officer of Six Flags Entertainment Corp. over his departure.

Interest and attorney fees could increase Jeffrey Speed's win, but the company said Friday it disagreed with the ruling and was considering an appeal.

Six Flags said costs from the case would be treated as a restructuring charge.

The company said the arbitrator sustained some of Speed's claims and denied others. It did not describe other details of the case.

Six Flags said in a news release last September that Speed had left "to pursue other opportunities."

It said Friday that Speed also filed a claim with the Department of Labor "relating to his discharge."

Speed joined Six Flags from Euro Disney while Washington Redskins owner Daniel Snyder was chairman of the board. Snyder was ousted when the company emerged from bankruptcy protection in May 2010, and Speed left the company four months later.

Six Flags, based in Grand Prairie, Texas, operates 19 theme parks in North America. It reported in February that in 2010 it earned $599 million, including a $732.5 million equity infusion, and had revenue of $976 million. It emerged from bankruptcy court protection in April 2010.

Speed testified during the bankruptcy proceeding that the "taint" of going through reorganization hurt ticket sales. He said the company saw a huge increase in calls from visitors, asking if the parks were open.
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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby David H » Mon Apr 25, 2011 4:11 pm

It's interesting that part of the Snyder regime is now testifying that a reorganization had tainted the chain and cost the company ticket sales, since people didn't know if they were open. Especially when you consider that they were the ones who did pretty much the exact same type of reorganization a few years prior to that, kicking out Shapiro and company.

Or is their argument that reorganizations that put us in power are good for the company, but reorganizations that take us out of power are bad for the company?

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby jedimaster1227 » Thu May 05, 2011 8:15 pm

http://www.prnewswire.com/news-releases/six-flags-announces-two-for-one-stock-split-and-quarterly-cash-dividend-121314924.html

Six Flags Entertainment Corporation (NYSE: SIX) announced today that its board of directors has approved a two-for-one split of the company's common stock in the form of a stock dividend of one share for each outstanding share. The number of Six Flags Entertainment Corporation's outstanding common shares will double to approximately 54 million. On June 27, 2011, each shareholder of record at the close of business on June 15, 2011 will receive an additional share of stock for each outstanding share.

The company's board of directors also declared a quarterly cash dividend of six cents per share of common stock to shareholders of record as of May 31, 2011. The dividend will be payable June 13, 2011.
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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby ParkTrips » Thu May 05, 2011 8:43 pm

WOW. It pains me, as someone who lost money on the old PKS/SIX, to see the stock doing that well. d'oh!

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