Six Flags Corporate Discussion Thread

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Postby EnglndPatriots6 » Fri Jun 19, 2009 10:07 am

Well they bought KI. And im just saying they have like all the major parks in the Ohio Valley Region. If they took KK i wouldnt mind, maybe we would get a new coaster or something.

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Postby coolcalicoaster » Fri Jun 19, 2009 10:17 am

^Hey goatdan, you state that you have money invested in the industry, so obviously you are only going to make the one side of the argument that you did. Its called a conflict of interest!

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Postby goatdan » Fri Jun 19, 2009 10:35 am

coolcalicoaster wrote:^Hey goatdan, you state that you have money invested in the industry, so obviously you are only going to make the one side of the argument that you did. Its called a conflict of interest!


I am?

I have my money invested in common stock, which is all about to be absolutely worthless, so if anything making the argument that I did makes it even stronger. I invested my money in the common stock relatively recently (around the start of the new management) believing that the new management team was on the right path. I still think they are, but I'm going to lose a lot of money with this most recent turn of events.

Cedar Fair on the other hand I've been a shareholder of for over 10 years now. While the stock price has dipped to about half of what I paid for them, the fact they gave out sizable dividends each year means that I have made my money on them already, and the share price is basically gravy. I'm waiting, however, to see if they rise again as there is new talk amongst investors that they may actually be a great value right now, and their share price is back on the rise a bit. If they rise like I expect, I'll liquidate my holdings. If not, the risk of them going lower is offset by their large dividend that is worth nearly 10% of their value, so I'll hold onto them for that. Doesn't mean I think their business plan is a good one.

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Postby coolcalicoaster » Fri Jun 19, 2009 10:46 am

^I'm just playing goat. Relax a little. I am impressed by your knowledge of the subject, even if I don't agree with all that you say.

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Postby goatdan » Fri Jun 19, 2009 10:56 am

^^ No, I'm not really worked up about it, I'm just pointing out that if there was an argument for me to naturally make because of my investment, it would be that Six Flags has no idea what they are doing, and I can't believe I lost so much money on them, and I should sue them because I had no idea that I might lose so much money on them!

But, as a responsible investor I did my homework before I invested, and I even told some people when I was investing that this would go in one of two ways -- they would magically find a way to start pulling out of debt, in which case the company would be earning tons of money and the stock would be a spectacular investment, or they'd do bankrupt and I'd lose everything. It was a risk worth taking to me, but a gamble that isn't going to pay off.

That's not going to stop bondholders and other shareholders from taking them to court though because they lost money in them. Everyone loves the stock market when they make money, but they point at others when they lose. I'd expect in the next couple months a lot of Six Flags bond / share holders to start doing a lot of pointing. New Orleans (with the rent thing) was the first group to start a lawsuit. I'd expect many more.

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Postby coolcalicoaster » Fri Jun 19, 2009 11:03 am

I see what you are saying. Well I hope for a rebound on some of you other stock to make up for the loss you took on the Six Flags stock. I would be interested to here how things are going over time.
Good luck to ya Dan.

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Postby rcroques » Fri Jun 19, 2009 7:22 pm

The only reason that Cedar Fair will buy a park that is already in their market is so that they can shutter it.

Now, Kings Island didn't really go that way (keep in mind, I don't know how far it is from Cedar Point). Yet Geauga Lake was shuttered, and in my honest opinion, it was so that they could monopolize the area they're in.

So, that said, I hope to God or whoever controls these things that Cedar Fair keeps their hands off of Six Flags. Cedar Fair is really turning into a company which I see failing in the future just like Six Flags has failed in the past.

Now, to the fact that Six Flags Magic Mountain is getting a new coaster in the next year... the money has most likely already been secured for that project. Look at DCA... that project is safe (even though there have been layoffs and cutbacks) because the money was already secured at an earlier time. I don't see us getting anything past 2011, but these two next years, we're getting coasters. And I support it because it increases SFMM's competitive viability against a heavily loaded California theme park environment. Just look at the park now... parking went out to gravel on a Thursday. When Premier had it, it NEVER went out to gravel but on a weekend. We're a busier park then we were.

I'm more than willing to admit Six Flags has made mistakes... but right now, I think they're destined to rise from the ashes. They already have, in my eyes.

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Postby PeoplemoverMatt » Fri Jun 19, 2009 8:11 pm

Now, to the fact that Six Flags Magic Mountain is getting a new coaster in the next year... the money has most likely already been secured for that project.


I believe back at WCB, either Tim or Jay said that money-wise, they were currently working on 2011. That would confirm the financial finality of anything built in 2010.
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Postby DBru » Fri Jun 19, 2009 8:27 pm

EnglndPatriots6 wrote:Well they bought KI. And im just saying they have like all the major parks in the Ohio Valley Region. If they took KK i wouldnt mind, maybe we would get a new coaster or something.


Let's think about this one...Geauga Lake was Cedar Point's closest competition. SFKK is Kings Island's closest competition.

So if Cedar Fair was to buy SFKK...

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Postby rcroques » Fri Jun 19, 2009 8:42 pm

PeoplemoverMatt wrote:
Now, to the fact that Six Flags Magic Mountain is getting a new coaster in the next year... the money has most likely already been secured for that project.


I believe back at WCB, either Tim or Jay said that money-wise, they were currently working on 2011. That would confirm the financial finality of anything built in 2010.


Indeed.

As I said, it's a tourism arms race in Southern California... Magic Mountain needs its weaponry in order to stand a chance.
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