sccard01 Posted November 3, 2010 Author Share Posted November 3, 2010 Wonder why Six Flags failed in Ed Harts Words? well... here it is http://www.youtube.com/watch?v=91QLV-uStyw also check out the Kentucky Kingdom you tube channel in the link below http://www.youtube.com/user/thekentuckykingdom Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 3, 2010 Share Posted November 3, 2010 I'm an operations guy...not a finance guy (tehe), but let me get this straight: If this passes, myself, as a taxpaying citizen of the Commonwealth of Kentucky, am going to be putting MY hard earned money into a park that has failed twice already??? That's it, I'm moving to Ohio... Feel free to correct me if I'm misunderstanding. Quote Link to comment Share on other sites More sharing options...
sccard01 Posted November 3, 2010 Author Share Posted November 3, 2010 I'm an operations guy...not a finance guy (tehe), but let me get this straight: If this passes, myself, as a taxpaying citizen of the Commonwealth of Kentucky, am going to be putting MY hard earned money into a park that has failed twice already??? That's it, I'm moving to Ohio... Feel free to correct me if I'm misunderstanding. and there are reasons why the park failed, which he explained in the video above. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 3, 2010 Share Posted November 3, 2010 I watched it and I don't really care what he has to say...MY money is not going to Kentucky Kingdom....MY money would rather be spent on gas going to Cedar Point and Kings Island. A sure thing...for now. Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted November 3, 2010 Share Posted November 3, 2010 I would visit the park once or twice a year. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 3, 2010 Share Posted November 3, 2010 Oh, no doubt. If it worked I'd go...but I really don't think Kentuckians should have their money spent on Kentucky Kingdom. Our state is too poor for that... Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 3, 2010 Share Posted November 3, 2010 And how should state government pick which businesses it will subsidize (like Kentucky Kingdom) and which must make it on their own (like, say, Beech Bend)? Also, is it fair to out of state parks like Holiday World and Kings Island that the Kentucky State Government in essence sets itself up in competition with them? Is it fair to taxpayers that a state that can't properly fund its unemployment compensation fund, Medicaid or even pay state employees to work each workday would use state credit to back up private enterprise, even if it on state property? And, I ask again, look carefully at this. What's in this for Mr. Hart? He is not doing this out of the goodness of his heart. And Mr. Bruce Lunsford, his partner, is a former chair of the Kentucky Democratic Party and ran against Mitch McConnell. But all this is probably academic. Yesterday's election, which some interpret as a stunning rebuke to government bailouts of the private sector, probably made this as likely as Holiday World buying Kings Island. It could happen, but is very, very unlikely. To put it mildly. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 Thank you Terpy. It's good to know that someone else passionate about coasters doesn't want to jump the gun just for another park, not taking in to consideration the repercussions. I'm not even sure why Kentucky Kingdom is an issue at this point. Shouldn't we worry about the states 10% unemployment rate, or the fact that Kentucky is the 4th poorest state in America before an amusement park's opening on the taxpayers dime? It honestly sickens me, despite the fact I would love more variety...it's just not worth the cost. Quote Link to comment Share on other sites More sharing options...
Dieseltech20 Posted November 4, 2010 Share Posted November 4, 2010 Yeah, Kentucky has too much on their plate to be handing 50 million to an Amusement Park. Of course the state does seem to be very stupid when it comes to money. They have spent almost 1 million on new cars for government employee's. 36k alone for Richie Farmer (The AG Commissioner) to have a shiny new Suburban. A giant gas guzzling SUV....for just ONE person? I read an article a few weeks back on the top 5 WORST states to live in and Kentucky was on it. I know everyone here is a coaster/Park lover and I am happy to be one of them....but....screw KY Kingdom. Someone wants to spend their OWN money and open the park, go for it, but leave my tax money alone. Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 Heres a new video. I hope everyone watches and listens to it with an OPEN mind. http://www.youtube.com/watch?v=MjG5GOzrWqI Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 Here are two more. http://www.youtube.com/watch?v=sfkRlciCSss http://www.youtube.com/watch?v=rYS7K8PVn4w 1 Quote Link to comment Share on other sites More sharing options...
Dieseltech20 Posted November 4, 2010 Share Posted November 4, 2010 I watched with an open mind. Nice vids with pretty pie charts and lots of guessing and hoping. Still doesn't change the fact that KY doesn't have 50 mil laying around to fund an amusement park. I suppose the development team wouldn't mind if the state fired a few dozen police and firemen and other spending cuts so they can reopen a twice failed amusement park. If it is such a good plan and such a safe bet, why not move the rides and and finance it the same way all the others do? 1 Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted November 4, 2010 Share Posted November 4, 2010 I think Ed may be board. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 I hope he works on that presentation before showing it in Frankfort. Otherwise, he may well be laughed out of town. What a poor excuse for a presentation. Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 I understand you are mad at the government, demand small government, dream for lower taxes, and are enraged with anyone who is involved with Washington but, if you take the time to do the math, this could be a huge benefit for Kentucky. It will only take 3.5 million dollars for KK take pay it's lease agreement, in the video it is explained the park will rake in 11 million dollars. If the park is one third as successful as predicted, the state will break even. The risk is not all that large. Eventually, the state could be generating an extra 11 million minimum a year. The initial investment may be large but, the long term financial gains are even larger. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 You could not possibly be more wrong about my philosophical views or my views towards the Government. The legislature, not you or me, will decide the fate of this venture. I have been a student of Kentucky politics for nearly five decades now. There is no way this proposal is going anywhere in Kentucky. As others have asked, what fire fighter, law enforcement officer, social worker, university professor, teacher or nurse do you think should lose his or her job so this can be funded? Actually, what hundreds of them? What part of that do you not understand? That is EXACTLY the issue here. You also say the state could make $11 million a year off this. Why is government then in competition with the private sector to make a profit? How is that fair? Aside from that, why should Ed Hart be allowed to reap millions at the taxpayers' risk? Banks won't finance this. They have been asked. They said no. Cedar Fair has to borrow money from banks. So does Six Flags. Why should Ed Hart (and ONLY Ed Hart and the former chairman of the Democratic Party in Kentucky) be special? Why do they get funded at the taxpayers' risk when banks say this is far, far too risky? Well? Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 Out of curiosity, do you know for a fact he asked the banks? Or is that just assumption? Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 I know that for an absolute fact. Do you actually think he would go to the state and beg for financing if he could get financed by the banks? If so, you think even less of his integrity and goals than I do. He has said during his own presentations that this CANNOT work without public sector backing. Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 Terpy, I do not doubt that you believe he asked the banks. Your reason that, "He said that this CANNOT work without public sector banking," seems more like speculation to me. If you have a legitimate source, I will have no problem aiming faith at your statement, until then, I can not and will not. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 You won't regardless. I work with the banks every day. I know who was asked and what the answers were. And you will not see past your obvious deep seated love for Kentucky Kingdom and desire to see it operate again. I understand that. But this will not fly. Quote Link to comment Share on other sites More sharing options...
Truth Seeker Posted November 4, 2010 Share Posted November 4, 2010 If that is true then, why don't you just post your source? I'm not trusting you until I see actual evidence. Quote Link to comment Share on other sites More sharing options...
sccard01 Posted November 4, 2010 Author Share Posted November 4, 2010 This whole bond thing isn't just about Kentucky Kingdom, its about the whole state. With this bond, The state of Kentucky will bring in Hundreds and Hundreds of Jobs into this viewing area. We wouldn't be loosing any jobs by the way. More hotels, tourist attractions, etc will start to make money once again, also bringing a lot more money into the state of Kentucky. We all know Kentucky Kingdom failed in the past for obvious reasons, but did it fail with Ed Hart? umm... I think not. Why are you all against the park being successful? Everyone knows the park can (or will) be successful. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 Heres a new video. I hope everyone watches and listens to it with an OPEN mind. http://www.youtube.com/watch?v=MjG5GOzrWqI So if I'm a "tenant" of an apartment, I can ask my landlord for the money to my rent??? No, because I would have gotten the apartment, planning on paying my own rent...which is what I feel like Hart is saying. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 If that is true then, why don't you just post your source? I'm not trusting you until I see actual evidence. Mr. Hart will be asked that specific question during the legislative hearings (I wonder by whom....). I don't provide sources and really don't care whether you trust me or not. As I said before, all that matters at this point is whether the legislature in Kentucky approves this scheme. What you think, or I think, matters not one whit, except to the extent that we can influence the legislature. I am confident of my abilities there, and will do what is appropriate at the right time to protect the industry that I love so much and do so much for. ...Everyone knows the park can (or will) be successful. If everyone knew such a thing, they'd be lining up to invest in the park and no state backed bond would be necessary. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 If this were to somehow pass...I would want to be admitted into the park whenever I so choose, being as I would feel like a part owner, and my money is already invested in it. If you want to put your money into it...buy a few shares of their stock...don't make me pay for it. Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted November 4, 2010 Share Posted November 4, 2010 Why does he need a source? It is common sense. He obviously can get financing through conventional methods. If he could, he would have secured said financing and be able to open the park in 2011. But instead he is trying to rely on the state of Kentucky to help finance his project. I don`t understand why people think that it is a good business decision to try and reopen the park, especially with the backing of the state of Kentucky. The Louisville market has some stiff competition with Kings Island and Holiday World short drives from the city. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 Btw, to anyone else who cares...ALWAYS trust Terpy. Never, since joining this website, have I received false information from Mr. Interpreter. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 4, 2010 Share Posted November 4, 2010 ...I don`t understand why people think that it is a good business decision to try and reopen the park, especially with the backing of the state of Kentucky. The Louisville market has some stiff competition with Kings Island and Holiday World short drives from the city. ...and Beech Bend, which competes while PAYING state taxes which would be used in part to fund its competitor. If I were the owner of Beech Bend, I'd be beyond livid. Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 This whole bond thing isn't just about Kentucky Kingdom, its about the whole state. With this bond, The state of Kentucky will bring in Hundreds and Hundreds of Jobs into this viewing area. We wouldn't be loosing any jobs by the way. More hotels, tourist attractions, etc will start to make money once again, also bringing a lot more money into the state of Kentucky. We all know Kentucky Kingdom failed in the past for obvious reasons, but did it fail with Ed Hart? umm... I think not. Why are you all against the park being successful? Everyone knows the park can (or will) be successful. We doubt it because WE pay taxes and it's OUR money. If I felt confident, I'd invest at my own will...not because I'm forced to. This has got to be one of the most ridiculous business propositions of ALL time. If Hart truly wanted to re-open KK, then he would find the investors to fund it, instead of greedily "bumming" (for lack of better words) of the state and it's citizens. To all: Just curious...is Ed Hart a resident of KY? Quote Link to comment Share on other sites More sharing options...
fighting31irish Posted November 4, 2010 Share Posted November 4, 2010 Also, how can I feel confident in a business plan that does not have enough investors to support itself??? Granted, it's a recession but that seems shady to me... Quote Link to comment Share on other sites More sharing options...
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