Six Flags Corporate Discussion Thread

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Re: Mark Shapiro - has he spoken since removal?

Postby downunder » Mon Jun 21, 2010 10:07 am

He's probably too busy counting his money...

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Re: Mark Shapiro - has he spoken since removal?

Postby fatdaddy » Mon Jun 21, 2010 12:33 pm

He's still floating around on his golden parachute.

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Re: Mark Shapiro - has he spoken since removal?

Postby alexinla » Mon Jun 21, 2010 12:57 pm

From what I understand, he is preparing a lawsuit against Six Flags. Will he go thru with it? Who knows..

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby RandallDuell » Mon Jun 21, 2010 1:32 pm

Thanks for the merge, I did search and didn't see any discussion about Shapiro post-Six Flags career anywhere.

In my searching, here, I did listen to the interview that this site did with him when he first took over. Do you guys think he'd be receptive to doing a followup conversation?

I don't know why I find it so fascinating, but it was really interesting to watch him come in with such a cocky attitude...only to ultimately be removed.

Interesting about the possible lawsuit, thanks for that.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby larrygator » Mon Jun 21, 2010 3:09 pm

^If he received a buyout of is suing (and I don't know if either is true) he probably has a gag order on discussing Six Flags.
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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby jedimaster1227 » Tue Jun 22, 2010 7:51 am

Six Flags Entertainment Corp., the theme park operator that emerged from bankruptcy protection last month, said Monday that three park executives are leaving the company as part of recent layoffs that the company estimates will save it $16 million a year.

The company did not disclose how many jobs were affected in the June 16 reductions, but said the move mainly targeted its New York City and Dallas corporate offices. Six Flags also is moving its CEO to the company's Dallas corporate headquarters. The estimated savings excludes severance and other costs, Six Flags said in a filing with the Securities and Exchange Commission.

"The effect of these reductions should bring the company's general and administrative costs more in line, on a percentage of revenue basis, with other companies in the regional theme park industry," the company said in the filing.

Leaving the company are Michael Antinoro, executive vice president of entertainment and marketing, Andrew Schleimer, executive vice president of strategic development and in-park services, and Mark Quenzel, executive vice president of park strategy and management.

The three executives had nearly three years left on their contracts and stand to receive their base salaries throughout that term. Antinoro receives $400,000 a year in salary while Quenzel and Schleimer each are paid $500,000 annually.

Their employment agreements also call for them to receive their target bonus for the past year, which totals $500,000 a year for Antinoro and Quenzel and $400,000 for Schleimer. The three also will receive severance and 12 months of health care and life insurance.

The company, which runs 19 theme parks in North America, filed for bankruptcy protection in June 2009, burdened by high levels of debt and declining park attendance. Its restructuring plan reduced its debt and redeemable preferred stock to about $1 billion from about $2.7 billion.
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Re: Six Flags Announces CEO Offices Moving To Dallas

Postby SFA Regular » Wed Jun 30, 2010 1:06 pm

I sure hope after all these little moves and changes that they have been making, that they still have plans for making the parks better. Seemed like Great Adventure got all the attention because the main office was in New York. So with Over Texas be getting the attention because they are the first SF park and the main office is close to there? I was so hoping the office would be moved to Washington DC. That way SFA could get at least some attention. Of course I'm just kidding. SFOT was the first SF park, so it makes sense for them to move it there.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby davidmorton » Sat Aug 14, 2010 5:18 am

13th Aug : SixFlags press release viz new Chairman, President and CEO (thats all the same guy though!)

James Reid-Anderson Named Chairman, President and Chief Executive Officer of Six Flags Entertainment Corporation

DALLAS, Aug 13, 2010 /PRNewswire via COMTEX/ -- Six Flags Entertainment Corporation (NYSE: SIX), the world's largest regional theme park operator, today announced that James Reid-Anderson has been named the Company's Chairman, President and Chief Executive Officer, effective immediately.

Mr. Reid-Anderson, 51, previously served as Chairman, President and Chief Executive Officer of Dade Behring Holdings. Dade Behring emerged from Chapter 11 in September 2002 and under Reid-Anderson's guidance, Dade Behring established itself as a leader in customer excellence, innovation and shareholder value creation. In 2007, Dade Behring was sold to Siemens AG and following the completion of the transaction, Reid-Anderson served as CEO of the Siemens Healthcare Diagnostics Division, and then was promoted to CEO of the Siemens Healthcare Sector and appointed a member of the Siemens Managing Board.

"Jim is an exceptional CEO, and he brings to Six Flags an outstanding track record of shareholder value creation," said Usman Nabi, Executive Chairman of the Board of Six Flags and Senior Partner at H Partners. "As past investors in Dade Behring, we understand the value Jim delivers to shareholders, and the Board is confident that he will repeat this success at Six Flags."

Mr. Nabi continued, "I'd like to acknowledge the tremendous work of Al Weber, who has served as Interim CEO over the last three months. Under Al's leadership, we've streamlined our operations and re-focused our organization on our core theme park business. Al's deep industry experience will complement Jim's capabilities."

Mr. Nabi will continue to serve as a Director and a member of the Executive Committee of Six Flags while Mr. Weber will transition to the role of Chief Operating Officer.

"I am very excited to be joining Six Flags' dedicated group of employees and to build upon the momentum already underway at the Company," said Reid-Anderson. "With its strong portfolio of theme parks and improved capital structure, the Company is very well positioned for the long term. I look forward to enhancing the experience for our guests and continuing to build value for our stakeholders."

Prior to joining Dade Behring, Reid-Anderson held various financial and operational positions at Wilson Sporting Goods, PepsiCo, and Grand Metropolitan PLC, and currently serves as a Director on the Boards of Brightpoint, Inc. and Stericycle, Inc. He is a fellow of the UK Association of Chartered Accountants and received an Honors Degree in Commerce from the University of Birmingham, UK.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby kenshinmac » Sat Aug 14, 2010 8:20 am

Is it just me that gets scared when I see phrases like "outstanding track record of shareholder value creation" in press releases like this? It doesn't sound good for visitors IMHO.

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Re: Six Flags Bankruptcy & Restructuring Discussion Thread

Postby nitrofan » Sat Aug 14, 2010 8:27 am

kenshinmac wrote:Is it just me that gets scared when I see phrases like "outstanding track record of shareholder value creation" in press releases like this? It doesn't sound good for visitors IMHO.

It said Weber will become the COO so hopefully he will manage the theme park side and Anderson can handle the business side.


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