The Interpreter Posted May 4, 2009 Share Posted May 4, 2009 Analysis: Playing Business Hardball Backfires http://www.forbes.com/feeds/ap/2009/05/03/ap6370769.html Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 8, 2009 Share Posted May 8, 2009 The city of New Orleans is giving Six Flags amusement park until Monday (may 11) to decide a plan of action. New Orleans wants Six Flags to rebuild and reopen the park which was destroyed by hurricane Katrina four years ago.... http://www.katc.com/Global/story.asp?S=10324549 More: http://www.wxvt.com/Global/story.asp?S=103...;nav=menu1344_2 Quote Link to comment Share on other sites More sharing options...
KIfan1980 Posted May 8, 2009 Share Posted May 8, 2009 http://www.wxvt.com/Global/story.asp?S=103...;nav=menu1344_2 Quote from story: Six Flags spokeswoman Sandra Daniels calls the threat a "save-face tactic" and says the city's contention that the company violated its lease has no merit. Does the city of New Orleans not have better things to do with its officials time and taxpayer money? The park is not going to be reopened, it wasn't a money maker, and the company has been paying its lease. Government can't force a company to ..(oh wait, scratch that - alhtough I don't think anyone is bailing out SIX). At some point, you have to look at reality, you may not always like it, but you always have to live with it. Maybe this should be the approach taken by all sides here. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 11, 2009 Share Posted May 11, 2009 Time's Up: http://www.wdsu.com/news/19428071/detail.html Quote Link to comment Share on other sites More sharing options...
Oldiesmann Posted May 12, 2009 Share Posted May 12, 2009 What is New Orleans expecting to gain from this? They seem eager to have the park reopened, but they aren't offering any assistance or incentives to Six Flags for the project. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 12, 2009 Share Posted May 12, 2009 And it's not like Six Flags has any money laying around to give them, either.... Quote Link to comment Share on other sites More sharing options...
Oldiesmann Posted May 12, 2009 Share Posted May 12, 2009 My point exactly. New Orleans wants the park reopened, but they don't seem to be willing to help, and SF obviously can't afford to do it themselves. I doubt the federal government has any stimulus money set aside for amusement park restoration projects either. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 13, 2009 Share Posted May 13, 2009 Six Flags Prohibited from removing assets (From SFNO) After Restraining Order: http://www.wwltv.com/topstories/stories/ww...s.1d2b79f2.html Quote Link to comment Share on other sites More sharing options...
alon504 Posted May 13, 2009 Share Posted May 13, 2009 Reopening SFNO would be foolish-the whole city is on borrowed time anyway. As I said in a previous post, I had relatives barely escape with their lives in Slidell, and the fact they went back and lived in the fema trailer up until a year ago baffles me. One cousin is so traumatized from it, he stayed here in Ohio, and is still struggling. I would never live in a bowl. Why dump millions of dollars into a property in such a major flood zone, when it could happen again? Ignorant comment #1. Sorry your relatives were that traumatized, but, perhaps therapy would help. Over 1.3 million have returned to the area thus far, so, most of us are doing just fine. In any case, the bottom line is Six Flags is in violation of their lease and New Orleans is suing Six Flags for that reason. The company has stolen insurance money from the city, and has also moved rides from the site, which is another violation of the lease. New Orleans isn't blowing smoke....the lawsuit has teeth or they wouldn't be moving forward. It's pretty clear that Six Flags is in violation of the lease. Here's more: http://www.wwltv.com/topstories/stories/ww...s.1d2b79f2.html .....and more: http://www.neworleanscitybusiness.com/upto...cfm?recid=24708 More than likely, this could be the suit that pushes the company over the edge and into bankruptcy. Their CEO even mentioned that to city officials a couple of weeks ago. The basic attitude of New Orleans is this..."Oh well, if you would have followed the lease, we wouldn't be in this situation would we? Then you shall fall into bankruptcy." For those that suggest New Orleans offer economic incentives to re-open. That isn't necessary and isn't something the city should have to do...we did that in round 1 with Six Flags and that is the exact reason why New Orleans is suing...because they have broken the original agreement in several ways. This is our city...we have been working our backends off to no end for almost 4 years now and our city is looking gorgeous as ever and we're flying high with more visitors to the area than ever before. Sales tax collections are ahead of pre-Katrina figures in New Orleans. We are back. We may not have been ready for Six Flags two years ago, but, we are now, and now, it is time for us to address the theme park. It wasn't on the forefront of our minds two years after the storm. If Six Flags would have been involved with recovery in New Orleans like hundreds of other companies that are thriving today in the city, they wouldn't be facing this lawsuit. They would be preparing to open up Six Flags New Orleans for Summer, 2009 that should be open to serve the 4+ million individuals that call the Central Gulf Coast home. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 13, 2009 Share Posted May 13, 2009 Claims made in a lawsuit are allegations, not necessarily statements of fact. The jury will determine the facts, as the judge will determine issues of law...unless the matter is settled out of court, as is likely. As an aside, most leases require the landlord to provide a suitable site with access to utilities and peaceable possession. Has the city delivered that? Most suits have more than one story to them...and hard cases often make bad law. Quote Link to comment Share on other sites More sharing options...
alon504 Posted May 13, 2009 Share Posted May 13, 2009 Claims made in a lawsuit are allegations, not necessarily statements of fact. The jury will determine the facts, as the judge will determine issues of law...unless the matter is settled out of court, as is likely. As an aside, most leases require the landlord to provide a suitable site with access to utilities and peaceable possession. Has the city delivered that? Most suits have more than one story to them...and hard cases often make bad law. There are businesses and homes all over in the area with beautiful landscaped yards, of course there is electricity and running water. Electricity and basic infrastructure is available in the entire footprint of New Orleans and has been since 2007, when the very last areas were repaired. Quote Link to comment Share on other sites More sharing options...
Monroe Posted May 13, 2009 Share Posted May 13, 2009 ^^^Barking up the wrong tree, they will get nothing out of Six because Six has nothing, we also have not heard the last from Six on there side of the story. The city is started in the right direction by the court order for non removal of assets, but I think they should just ask Six to walk away and redevelop the area into Ponchartrain Beach again. It was better then any ways, until Six moved in. (Man where have I heard that one before, too bad change took so long to come around.) Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted May 13, 2009 Share Posted May 13, 2009 Actually, the horrid Jazzland was the first park at that site. Six Flags actually improved upon that.... Quote Link to comment Share on other sites More sharing options...
Monroe Posted May 13, 2009 Share Posted May 13, 2009 ^Yes I stand corrected, Pontchartrain Beach was on south shore. I guess that I just had Pontchartrain on the brain, never made it to Jazzland until Six got a hold of it. Quote Link to comment Share on other sites More sharing options...
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