In the big picture, has Cedar Fair positioned itself to be more profitable? The final solution to many problems is better earnings (I won't pretend to know how much is the right amount), but look at the road map. Carowinds has gotten two new coasters in the last two seasons, one looking to draw more crowds in with the Nascar theming. Kings Dominion has gotten a decent coaster from Geauga, a kick butt coaster with I305, and some other rides from Geauga. Kings Island got DBack last year, World's of Fun got Prowler, Canada's Wonderland got Behemoth the year before. I'm sure I'm missing things, and they've also gone to more family friendly things with the light displays at CPoint last year, and other parks getting them this year. If the economy is really improving (and/or people's perception is it's improving) will higher attendance help Cedar Fair with it's debt issues?
Towards the bottom line, the dividend is currently gone, I'm a stock holder so while I do miss that, I think it should've been done sooner. I gotta think not licensing with Nickleodeon will save some big dollars (might take a year or two to realize)
Might a park or two be sold off? Possibly. Look up in the Mercury news for a recent article on CGA and the 49ers stadium.
I'm rambling but I'd like to think things aren't necessarily bleak.