Six Flags Skips Another Quarterly PIERS Dividend

[The Interpreter]

Talk about artful press release writing:

http://www.marketwatch.com/news/story/six-...}&dist=hppr

I don't care what they say, this is NOT good and it is not a good sign.

[The Interpreter]

A tiny bit more on this:

http://www.forbes.com/feeds/ap/2008/10/17/ap5571383.html

[Beast1979]

So Six Flags is still in pretty poor shape.

[The Interpreter]

And will stay that way until such time as the company is sold, rescued or taken over in a hostile takeover...one of which I predict will occur prior to or by next August.

[Beast1979]

And I've learned to take your word for things like that.

Sell your SIX stock!

[The Interpreter]

Actually, SIX may be a good investment that will pay off handsomely. Or you could lose every dime. It is VERY high risk. With high risk comes the potential to make much moola, or lose every nickel. Only money you can afford to lose should be invested in SIX. Not one nickel that you cannot.

[Cory Butcher]

This is not good for them. They are obviously playing with their pawns hoping that Cash Flows move the right way and the lenders relax. I will say that if you can save the money on the dividend, add to your net income and earning, impress investors, and relax the lenders; than a 10 percent interest rate on money that would need to be borrowed to pay back the PIERS could be a worthwhile investment. This does not look good however.

The Redskins are doing well, maybe Mr. Snyder can give SIX some needed infusion of capital!

[RailRider]

I think the leak is getting bigger. Yup this puppy is going under.

Terpy I would agree about the buyout or takeover. I would look for a company overseas to acquire SIX and they will then trim a lot of fat from the company.

[Beast1979]

[dreammode] How awesome would that be if Cedar Fair bought Six Flags? Then we could get Passes to all the CF AND SF Parks! [/dreammode]

[RailRider]

^

^

It would be absolutely awful if Cedar Fair bought Six Flags. Seeing as Cedar Fair is having growing pains with the Paramount purchase, could you imagine the issues with Six. After all they had to cut GL loose, because of a majority of the issues Six created at that park, you will see those same issues to some extent at other Six parks. Not to mention that CF would shortly go under after acquring Six because their cash flow would freeze from the massive debt load.

I am confident the CF will steer clear of Six and the only possibility I see is them possibly acquiring a park or two during bankruptcy.

I would be all for CF purchasing a single park that has a coaster with a Night Row

[tigellinus]

^^BUT....maybe Beast1979 should re-focus his question and ask about CF managing the SF parks for some investment company NOT in the business of running amusements!

[The Interpreter]

Really? May I point out that those who have hired Cedar Fair in the past to manage their attractions (or that Cedar Fair inherited with the Paramount Parks acquisition) do not seem to be renewing:

* Mall of America (once Camp Snoopy, managed by Cedar Fair...now Nick Universe, licensed from Viacom)

* The Star Trek Experience attraction at the Hilton in Las Vegas...contract not renewed

* Gilroy Gardens...remains to be seen, but it appears there is little to no prospect of Cedar Fair and the city renewing the existing arrangement

[tigellinus]

^^I was never offering a referendum on CF's managerial skillz...I was just mentioning how CF could still be a part of SF without actually buying them.

I'm actually more of a fan of SF's management than CF's, to be honest!!

[BoddaH1994]

^^I was never offering a referendum on CF's managerial skillz...I was just mentioning how CF could still be a part of SF without actually buying them.

I'm actually more of a fan of SF's management than CF's, to be honest!!

Why? It's definitely better to call a CF park home than a Six Flags park. Cedar Fair is adding things to parks in terms of capital improvements, entertainment options, special events, etc. Two Six Flags parks have closed major areas, they've opted to replace many live shows with DVDs, and the overall state of the company is nothing short of unstable.

[tigellinus]

^^You bring up a lot of good points, so maybe I stand corrected.

But for me, the Flash Passes at SF are a huge plus, and CF goes over-board at times with safety.

Not to mention, SF is VERY hard-core with enforcement of some of their rules, particularly with the smoking policies and code of conduct.

If you smoke in a non-designated place at many SF parks, you're done!!...ejected for the day, no questions asked. At KI, a smoker in the SOB line is the expectation.

[RailRider]

Not to mention, SF is VERY hard-core with enforcement of some of their rules, particularly with the smoking policies and code of conduct.

If you smoke in a non-designated place at many SF parks, you're done!!...ejected for the day, no questions asked. At KI, a smoker in the SOB line is the expectation.

Really I have never seen park regulations enforeced at a Six park, matter of fact I find that overall most of their employees could care less about their job, park or the guest expereince. I know there are exceptions and the corporate culture has gotten somewhat better under Shapiro, but still my experience has been completely different with Six and I still find them very lacking in guest services.

[tigellinus]

^^I can't speak for every park.

[Beast1979]

Cedar Fair goes overboard with Saftey?

You ever wonder WHY they do? Have you noticed how many accidents and injuries have happened at Six Flags Parks?

[The Interpreter]

Excuse me....

Safety first.

Safety always.

Safety all ways.

Please define how one can possibly go "over-board" on safety.

Surely, tgellinus, you aren't one of those people who thinks that there can be "acceptable losses" on rides, as an exec at a certain ride company (no, I will NOT say which one) once testified during a deposition.

As for you, BEAST1979, no company has a monopoly on accidents or injuries, many of which, it is later determined, are the sole fault of the injured person.

My head hurts.

[RailRider]

Safety first.

Safety always.

Safety all ways.

Hey thats our motto for our annual fireworks extravaganza. After all the 4th would be no fun if you lost a finger or an eye.

Seriously though and business wheter amusement or not should have safety of employees and their guests as their #1 priority. If not there are plenty of lawyers that will make it their business to put said company out of business.

[tigellinus]

Please define how one can possibly go "over-board" on safety.

The un-needed seatbelts on Vortex and Flight Deck (and the troika) are an example, in addition to the "tame-ing down" of rides like Mean Streak (first drop trim) and reversing the backwards Racer...oh, I didn't want to forget the "check...check...check..." either!

Surely, tgellinus, you aren't one of those people who thinks that there can be "acceptable losses" on rides, as an exec at a certain ride company (no, I will NOT say which one) once testified during a deposition.

Haha...no...I'm not that Intamin dude...it's just, IMO, I could never see CF building El Toro or T-Express as they currently exist (with the U-bars, and negative-g dynamics).

[Beast1979]

I really don't see how a company could not want to be safe rather than sorry.

[RailRider]

^

But Cedar Point still hasn't put the OTSR on Top Thrill Dragster that acompany Kingda Ka and they have been adding new g filled coasters like Renegade, the upcoming Prowler and if CGA's is ever started.

The reasson you dont see something like El Toro or TExpress has nothing to do with the coaster, but more the builder. Cedar Fair has had some issues with Intamin and they are moving towards other builders right now.

[tigellinus]

^^I don't disagree...but how do you explain-away the seat belts and "check's" all post facto??

[RailRider]

You dont want the seatbelts? Why? They are not a henderance by any means.

I want a seatbelt, because what if a lapbar fails?

Should people just be allowed to sit in a train and as soon as they are in, dispatch it? Sounds safe to me.

[CoastersRZ]

Well, the seat belt thing goes back to the old saying "better be safe than sorry." Furthermore, I`m sure that some of the seat belt additions were stipulated by Cedar Fair`s insurance company and/or Cedar Fair could secure better liability insurance if these were installed on the rides, saving them money in the long run, not to mention the fact that they keep park guests safer, and can prevent future injuries or harm to riders. Injuries on rides can have an adverse effect on the perception of the park, which can result in decreased attendance and a real hit to the bottom line of a park. (However, I was a bit perplexed when I went to Cedar Point last year and both Troika and Iron Dragon did NOT have seat belts, when the comparable rides at Kings Island had seat belts installed last year).

In regards to the operators saying "check" when checking the restraints, it is intended to keep the operators alert, while also signifying to the guest that there restraints have been checked.

Cedar Fair would rather build extra safety features into their operations than risk all the negative publicity that comes with accidents. And most accidents are typically the result of rider misconduct. In the state of Ohio, there are laws which govern rider responsibility on amusement park rides. Part of the law states that riders must not act in a way that will contribute to injury of themselves or others. Furthermore, the law states that riders must abide by all posted and verbalized rules and warning. Failure to do so is technically breaking the law. While some of these extra safety requirements do not directly address the rider conduct laws, part of the increased safety features are to build in redundancies, and hopefully prevent "stupid people from doing stupid things."

And not all the rides that Cedar Fair has been installing have featured seat belts. Behemoth features only lap bars, and presumably, Diamondback will also feature just lap bars without seat belts.

[Beast1979]

Six Flags did add the extra restraints on Revolution, but I think that was for insurance only.

[tigellinus]

^^It could be hearsay, but I heard that was done because part of the Blood's gang initiation was to change seats in the middle of the ride!?!

So needless to say, the OTSR's put the end to that...

[The Interpreter]

And yet again:

http://investors.sixflags.com/phoenix.zhtm...&highlight=