RailRider Posted October 23, 2008 Share Posted October 23, 2008 Cedar Fair This will be the 86th consecutives quarterly cash distribution by the company. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 24, 2008 Share Posted October 24, 2008 And until the Paramount Parks acquisition, the company used to pay distributions from earnings, not from borrowed funds. Quote Link to comment Share on other sites More sharing options...
RailRider Posted October 24, 2008 Author Share Posted October 24, 2008 True but they still pay distributions. Quote Link to comment Share on other sites More sharing options...
cholderfield Posted October 24, 2008 Share Posted October 24, 2008 True but they still pay distributions. - For now... Quote Link to comment Share on other sites More sharing options...
pkimike Posted October 24, 2008 Share Posted October 24, 2008 It is my guess that CF is in pretty good shape right now. If they were desperate they would have taken the bids for GL that they felt were to low. It appears that if they get into trouble they still have the option of getting rid of that property, even at a low rate to pay some bills. Don't they also own some land in Michigan? They might be able to work out a deal with Santa Clara too. We'll know for sure after November 6. It seems like they had a year of profit and will reopen in the spring (except KBF) when things have calmed down. I also bet a lot of the $500 million extra they borrowed is still there. I am not saying things won't get bumpy. I have been through enough to understand that. I just think they have some options. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 25, 2008 Share Posted October 25, 2008 When all of a company's property is pledged as a collateral for loans...it cannot be sold for a low price, or any price--for that matter, without the express consent of the lenders. If a sufficient price was not attained, the lenders would not approve...the better to have it still available in the event of a bankruptcy or forced sale. These are not good times for real estate values. You will note that even beleaguered Six Flags has not recently sold real estate. Separately, Cedar Fair DOES have a parcel of land near Canada's Wonderland on the market, according to the last conference call. Quote Link to comment Share on other sites More sharing options...
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