Six Flags Corporate Discussion Thread

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Postby EnglndPatriots6 » Thu Jun 18, 2009 8:28 pm

i seriously think SF business dept. is retarded or something. they just decided out of the blue to build a new park in dubai, and they are supposed to be getting a new coaster next year for magic mountain from what ive heard. they really arent the smartest company financial wise. as long as kentucky kingdom doesnt close ill be happy tho lol. but i demand they add more rides to the park

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Postby astroworldfan1 » Thu Jun 18, 2009 8:47 pm

EnglndPatriots6 wrote:as long as kentucky kingdom doesnt close ill be happy tho lol. but i demand they add more rides to the park


You want SF to add rides to add rides to SFKK. But, if they add rides, SF will add to their debt...

-Tatum

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Postby Airtime&Gravity » Thu Jun 18, 2009 8:56 pm

EnglndPatriots6 wrote:i seriously think SF business dept. is retarded or something. they just decided out of the blue to build a new park in dubai, and they are supposed to be getting a new coaster next year for magic mountain from what ive heard. they really arent the smartest company financial wise. as long as kentucky kingdom doesnt close ill be happy tho lol. but i demand they add more rides to the park


1. Learn grammar
2. Six Flags is Not building the park in Dubai. They are licensing the name to Tatweer who who actually build the park. Just like how Disney doesn't own Tokyo Disneyland. Also, they didn't just decide to do it out of the blue as these parks take years to plan and build.
3. Cedar Fair has a lot of debt, and if Six Flags can reduce their debt to $600 million, Cedar Fair will have a lot more debt. Using you're logic, Cedar Fair shouldn't be adding any rides either.
4. You complain about other parks receiving additions, and then as Astroworldfan said, you want Kentucky Kingdom to get rides. However you don't want the cost to be added to their debt.
5. Umm, the new management has been turning the company around, and bankruptcy will help with their massive debt load. If the new management continues what they are doing, hopefully they can finally be in the black.

Airtime-at least you don't know bout the park being built in Qatar...oops - &Gravity

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Postby EnglndPatriots6 » Thu Jun 18, 2009 9:06 pm

astroworldfan1 wrote:
EnglndPatriots6 wrote:as long as kentucky kingdom doesnt close ill be happy tho lol. but i demand they add more rides to the park


You want SF to add rides to add rides to SFKK. But, if they add rides, SF will add to their debt...

-Tatum


lol pretty much :P we haven't received a new ride other then a waterpark ride in the last 6 years. well i didn't know they was licensing it to that guy over there. i just saw on their site they was building it. seriously wherever u all go u get new rides we have to endure the same boring crap every year . seriously u would think the same thing if u had only KK to go to. and as far as i can tell their management hasn't been doing aything different then they always do, and my grammar is fine, thats the way we talk where im from.

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Postby Airtime&Gravity » Thu Jun 18, 2009 9:13 pm

^Yeah, well everywhere else, the first letter of a sentence is capitalized, "I" is used to represent yourself, and "you" is used to refer to someone else.

Hmm, I guess the family that I have in Kentucky must be the unique ones down there since they use the same rules relating to grammar that I listed above.

To the mods, sorry for being a backseat mod.

More news:

NEW YORK (AdAge.com) -- Theme-park giant Six Flags has filed for bankruptcy, a move that normally signals a cut in marketing spending. But in this case, Chapter 11 figures to be good news for Mr. Six.

Six Flags is doing its best to protect its image online with a PR blitz.

"Our biggest challenge today is that the public is more familiar with 'bankruptcy' because of AIG and Chrysler," said Mike Antinoro, exec VP-entertainment and marketing at Six Flags, adding "But you hear that word, and it's closely associated with 'closed.'" So Six Flags, which derives more than 80% of its annual revenue from late spring and summer, is buying additional interactive inventory to help spread the word that its parks are very much open for business as it restructures its $2.4 billion debt.

More than 'open'
"We're redirecting our message online," said Mr. Antinoro. "We're focusing on reassurance: We're not just 'open'; we have new attractions and rides in every single park, and longer hours and more operating days than ever before."

Mr. Antinoro declined to speak specifically about how much money Six Flags would spend to "reassure" its customers. However, another insider familiar with the company's finances said the company spends some $60 million annually on all of its marketing. Thanks to the restructuring of its debt, at least five Six Flags markets -- New York, Los Angeles, Chicago, St. Louis and Springfield, Mass. -- are slated to actually receive between 10% and 15% increases in their advertising and marketing resources, the insider said. Ogilvy North America is Six Flags' agency.

In the meantime, Six Flags is doing its best to protect its image online with a PR blitz. It's purchased search terms such as "Six Flags bankruptcy" at major search engines like Google and Yahoo so that an FAQ page on Six Flags site can direct them to factual information about the minimal effect on operations. And CEO Marc Shapiro spent much of his Monday afternoon answering questions at a bloggers' roundtable, fielding questions from financial and theme-park bloggers about the impact of the restructuring on new roller coasters.

Hiring an agent
The company has also deployed a dedicated "social-media agent" to monitor and respond to online chatter on Facebook and Twitter. "There's a great need for accurate information right now [online]," said Mr. Antinoro, adding that those who are talking about Six Flags on Facebook and Twitter are "really the most loyal and most engaged with us and our brand, even if 'loyal' doesn't mean they always agree with us or think everything we do is great."

In a separate interview, Mr. Shapiro, meanwhile, said he is doing his utmost to market Six Flags as a 12-month-a-year business. Six Flags, he noted, is "looking at and pursuing brand extensions" such as Six Flags Rollercoaster Cuts, a children's boutique and hair-salon offering a multi-media haircutting experience for kids, replete with roller-coaster barber chairs and big-screen TVs simulating coaster rides. Six Flags, he said, will be opening another Rollercoaster Cuts soon, at the King of Prussia mall in Pennsylvania in the next few weeks, with others to follow.

"It's a low-cost-of-entry business, and it serves as a marketing machine for us," said Mr. Shapiro, "The idea is to get these kids while they're young. And as we get out from under this debt, you'll see us experimenting in all sorts of marketing efforts that turn us into a 12-month [a year] business. We're just as much about the experience as the rides."



Link

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Postby EnglndPatriots6 » Thu Jun 18, 2009 9:26 pm

Sorry jeez its just the way my family only, basically, talks when they send messages and stuff so its a habit.

Thanks for the link by the way. I didn't really keep track of the Dubai park since its not a US park. I just heard about it and thought they was crazy for doing, without knowing specifics. I guess that explains things.

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Postby Airtime&Gravity » Thu Jun 18, 2009 9:30 pm

^Sorry for being an @$$, but I saw an opportunity after you're second post, and I took it. Text writing is quick, but it is just a pain to read.


So what is everyone's thoughts on what Six Flags has been doing the past few days. Was the new loan a good idea, or will it hurt them? Also, will the increased advertising help convince people that they are still open, or do you think most people already know it and it is a waste of money?

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Postby MagicMountainMan » Thu Jun 18, 2009 9:38 pm

This is just a floating rumor, but apparently the bondholders are going to try and buy up the stock to get a majority share of the company and then get Six Flags to liquidate.

I admit I was one that fell for their EBITDA and thought that they were doing great. However once I looked into it I now think that it's going to take a miracle to get this company back on its feet all in one piece. I just don't see Six Flags being able to pull through this without selling off parks, temporarily closing some of the parks, or subscribing to massive layoffs.

However I would be a very happy man (okay boy) to see myself proven wrong.

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Postby EnglndPatriots6 » Thu Jun 18, 2009 9:39 pm

lol its ok. It gets to be habit forming quick.

So far at KK i think they are really making some attendance increases but its not like it used to be. I'm really worried we might lose KK even if its not a good park its still Louisville's only place for fun and its the only other park other then beech bend so they better figure something out in this renegotiating.

^ Same. They do have some smaller parks they could sell that really suck. Actually i just remembered they are doing that as we speak, The back half of KK where Twisted twins and the log ride are closed for 2 years to help with the money problem.

But didn't the NYSE remove the Six Flags corp. from all trading activity as a result of chapter 11?

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Postby rcroques » Thu Jun 18, 2009 10:01 pm

MagicMountainMan wrote:This is just a floating rumor, but apparently the bondholders are going to try and buy up the stock to get a majority share of the company and then get Six Flags to liquidate.

I admit I was one that fell for their EBITDA and thought that they were doing great. However once I looked into it I now think that it's going to take a miracle to get this company back on its feet all in one piece. I just don't see Six Flags being able to pull through this without selling off parks, temporarily closing some of the parks, or subscribing to massive layoffs.

However I would be a very happy man (okay boy) to see myself proven wrong.


Liquidate? As in sell parks to different companies?

God I hope not... I'd hate to see Freestyle Magic Mountain...

Sincerely,
R.C.

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