Six Flags seeks Chapt. 11 bankruptcy protection

Big Don

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[FONT=Verdana,Sans-serif]Six Flags seeks Chapt. 11 bankruptcy protection[/FONT]
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My Way News/AP
EXCERPT:
Jun 13, 9:37 AM (ET)

[/FONT][FONT=Verdana,Sans-serif] p {margin:12px 0px 0px 0px;}NEW YORK (AP) - The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the operation of its 20 theme parks in the U.S., Mexico and Canada.
Six Flags says it actually had a great year in 2008. It saw 25 million visitors and posted record revenues.
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Sukerkin

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I'm not being critical or argumentative here, Don, but what is the point you're trying to make :confused:?
 

seasoned

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I am thinking, New York has the highest taxes in the country. We can't afford the luxury of having fun anymore. We have lost so much business here, I guess fun is the last frontier to go.
 

terryl965

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Don I know the one here in Texas was down from the previous years. I hope they survive it is a great place.
 

MA-Caver

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I am thinking, New York has the highest taxes in the country. We can't afford the luxury of having fun anymore. We have lost so much business here, I guess fun is the last frontier to go.
I work at a tourist attraction and they too are feeling the econ-crunch that's been happening. Today was busy but shy of their normal numbers.
I earn an hourly wage and also tips and it seems that the tips aren't as good as they COULD be... either that or I gotta find funnier material to amuse the customers enough to make them feel good about tipping. *sigh*

But it's unlikely that where I work will suffer badly enough to face a closure or bankruptcy, they average 1/2 million visitors a year so they're doing pretty good for a 1/2 mile long show cave.
 
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Big Don

Big Don

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I'm not being critical or argumentative here, Don, but what is the point you're trying to make :confused:?
Just that the thrills and chills and loops and stuff could be in danger...
I've got $55 I can waste, I think I'll buy a couple of hundred shares...
 

Bruno@MT

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Over here, sixflags consists mainly of roller coaster style things.
I don't like roller coasters, so sixflags is not one of our go-to places since there is not much I can do there.

Perhaps this is true for more people. And if people have to watch their budget and cut back on such days out, then places where not everyone enjoys themselves are the first to get cut from the agenda.
Just a thought.
 

CanuckMA

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Those parks are pricing themselves out of existence. The large park in Toronto charges anywhere from $47 for a sngle use ticket to $57 for a 2 day ticket. That means that a family of 4 wil spend upwards of $200 just to get into the park. From there, food is overpriced and lineups are too long.
 

Empty Hands

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Six Flags has been in trouble for years. It has little to do with the economy.

Part of that has to be their business model. They pay well below prevailing wages for everyone, including their managers. They also rely heavily on children to do their work for them, including ride operation and safety. Should we be surprised? I went with my family yesterday, and they somehow managed to turn a low-to-moderate turnout into a nightmare of lines and inefficiencies.
 

CoryKS

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Went to Six Flags over Georgia this spring. We were underwhelmed. It was overpriced and overcrowded, and the rides were painfully jarring. It was like going to a strip-mall carnival that took permanent residence. Best of luck to them, but I'll stick to the Worlds of Fun/Cedar Point family of parks.

I went with my family yesterday, and they somehow managed to turn a low-to-moderate turnout into a nightmare of lines and inefficiencies.

This. I've never seen such an inefficient operation. It was like they had no idea how to run the park.
 
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