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Breaking News About Cedar Fair Acquisition


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I have heard it straight from the horses mouth that Dick Kinzel will not be retiring after this seasson. In fact part of the deal between CBS and Cedar Fair is that Mr. Kinzel oversee the addition of the new parks and that he remains at the helm for the 08 seasson atleast.

There will be a press release soon about this.

Edited by RailRider
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Well, wasn`t he supposed to retire at the end of 2007 anyway? Not really news there. But if he postpones his retirement, than that is news. I think overall that would be a good thing. He seems to be a very hands on CEO that takes pride in having well run parks.

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Right, CaastersRZ! In fact, his contract runs until January 2008. Nothing in the deal with CBS that has been made public requires he stay until then (and just why would CBS care? This is a cash deal...that's what they wanted...out, and with cash to pay off some of their own debt).

Instead, Mr. Kinzel's current Cedar Fair contract requires/allows him to stay until at least January 2008. And his pride and his expertise will no doubt have him stay longer, provided his health and life situation allow that.

Nor is this news, much less breaking. This was in the business press nearly a week ago:

http://www.crainscleveland.com/apps/pbcs.d...26021/1025/2020

That all being said, hopefully the executive bench at Cedar Fair (and Paramount Parks) is a lot more than one deep. They are going to need a LOT of really good people to pull this off.

And some people WILL leave. They always do when something like this happens. Some by choice. . .

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You must forgive me I added this topic late last night. He will be delaying his retirement atleast for another year and will be working the 2008 seasson as the head of CedarFair.

Kinzel is the man that made Cedar Point great and he is a great story of someone who started at the very bottom and made it to the top.

We will see Mr. Kinzel walking around KI during the seasson this year, like he strols around CP. If you should happen to see him say hello, he is one of the nicest men you will ever meet.

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When i worked at CP two summers ago - he was seen regularly. He would chat with the employees etc, he seems very personable. More so than others on the CP totem pole.... However, you can tell that this guy rules CF with an iron fist. Good luck trying to stop him to say hi, because he will already have stopped you.

oh and about the extesion onto his CF contract, there was an article in the sandusky register about him staying longer.... The Sandsuky Register is not exactly the most noteworthy newspaper, so you have to take it with a grain of salt...

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I seriously doubt he retires after 2007 now. This acquisition is too big of a thing for him to leave the helm. For those who don't know, Dick Kinzel is about the most hands on, no frills CEO I've ever heard of. This is a man that started out as a fry guy at Cedar Point and rose through the ranks, with no formal college education, to the top of the company. He's the one responsible for the coaster building of the last 20 years by Cedar Point, and also the one responsible for making Cedar Fair the successful, profitable company it is today. Doesn't seem to be much for theming a park, but sure knows how to run one.

As a fan of both Cedar Point and Kings Island, I'm glad (and KI fans should be too)that the park and it's siblings were sold to a company whose sole purpose is operating amusement parks, and not one like Universal, who seemingly keeps sending their parks further down the food chain.

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Considering his talent, I am glad that Mr. Kinzel will stay on longer. I am confident that he will help make Kings Island an even greater park than it is now with the help of the current, awesome staff that works there now.

Have a great day!

Italian Chef

chef.gif

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Considering his talent, I am glad that Mr. Kinzel will stay on longer. I am confident that he will help make Kings Island an even greater park than it is now with the help of the current, awesome staff that works there now.

Have a great day!

Italian Chef

chef.gif

I am quite certain that will be with the help of SOME of the current staff. Some will want to leave, some will want to stay, and some will get left...

That's the way it always is. I doubt this will be any different.

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He not only wants to stay on for awhile longer, but also it is a requirement from CBS for the deal to work.

Lets just say I had quite the interesting breakfast up north late last week!

Also as previously mentioned Mr. Kinzel started out working in food services at CP and worked his way through the ranks. He also lives on the pennisula, thats why you will see him quite frequently at CP.

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I hear you, but I still cannot imagine why CBS would care about who manages Cedar Fair, once they have been paid the cash they wanted out of this deal.

CBS isn't even the owner of the Nick licensing or Paramount theming. Viacom is.

In any event, it is all interesting, and we will watch with great interest.

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Did Dick Kinzel make Worlds of Fun, Michigans Adventure, Valleyfair, Dorney Park, and Knotts Berry Farm coaster capitals of the world also. NO! I am not saying Cedar Fair will not add some great rides in the future for KI. But, just because they made Cedar Point the coaster capital does not mean KI will get the say treatment. I just really don't believe that CF will not dump 20 to 30 million dollars every 3 or 4 years into KI like they do CP. Remember, CP is 'still their flagship park'.

Paramount treated PKI as their flagship (the favorite child) now we get to find out what it will be like to be a step child.

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Well, Cedar Fair has still added some major rides in their parks. Every park except Michigan`s Adventure has a B&M now, with Worlds of Fun getting one this year. Hopefully, that means that PKI will finally get that B&M creation! But, PKI will be one of their four parks that have attendance of more than 3 million. So I doubt that KI will be completely neglected.

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Agreed, Cedar Fair will not ignore KI but, I think to many people on here think that when they build a B&M it will be the tallest, fastest, longest B&M of its kind in the world. (or Intamin, etc...) They have only done that at CP not the other parks.

Yes, I do think a B&M is coming to KI in the future along with an Intamin coaster.

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I actually think that CF may invest in a large coaster project at KI in forthcoming years. Honestly, I think we'll see a large coaster project at the park a lot sooner than if the park had not changed hands.

I can say in all sincerity that a P Park Exec once shared with me (about 2 years ago) that the parks had absolutely no intention of pursuing a large coaster project in future seasons.

CF has had a great track record of re-investing product into the well-established parks that they obtain. Both Knott's and World's of Adventure have seen large coaster additions in subsequent years.

CF, specifically Dick Kinzel, is not shy about going ahead with large installs with the best and most reliable manufacturers. Al Webber was hell bent on only installing things he considered "technical marvels." Heck, at the ACE Conference a few years back, he gave a huge speech about how he wanted Paramount Parks to be known and the "innovators" in the industry. Problem was, they sacrificed the quality of the coaster installs by depending upon unreliable manufacturers that promised them the sun, moon and stars.

Although I am not counting on a major install at KI extremely soon, I can't help but get my hopes up. It's about time that KI had a large coaster that was highly enjoyable, highly re-ridable, and highly fun. Something that guests will get off of, then run right around and ride again.

Shaggy

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Maybe I confused some of you, but I wasn't saying that Dick Kinzel was going to have a bunch of new coasters built at KI. Just stating what he has done for that park as well as the others in the chain. I think Shaggy is correct in thinking that since it has changed hands, we can expect a large coaster investment sooner than was planned by Paramount.

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a. There are already about six zillion coasters there, installed by the former Six Flags management, even though the park's infrastructure is not capable of handling the crowds the coasters potentially could.

b. The park is virtually empty these days (ask those who went the the Geauga Lake extension of Coaster Mania). Reasons? Everything from the animals at Sea World being gone to the bad rep left by Six Flags to the Cedar Fair construction of the waterpark with non-union labor in a very highly unionized area.

c. Other Cedar Fair (and now Paramount Parks) competing for limited capital investment funds.

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Shaggy, I believe you meant that there had been coaster installs since Cedar Fair took over Worlds of FUN, (not Worlds of Adventure...where there not only have been no such installs, but aren't likely to be)

Thanks for the correction. I did mean World's of Fun... complete typo. In addition, they also have made 2 significant installs at Dorney as well.

Shaggy

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SixFlags ran GL in to the hole. Given time it will come back, thats why CF went the waterpark route and is leaving the new construction of coasters alone for awhile. CedarFair has a tough job rebuilding that parks entire image.

Cedar Fair also has some big things instore for the 07 seasson. Wait till they release the details about Maverick at CedarPoint. Why do you think construction has already started? Not to mention the changes that will take place at what were formerly Paramount Parks. Also the 07 seasson pass will let us in to all CedarFair parks...

08 seasson will be the addition of a great new coaster at KI and the possible install of Nick theming at existing CedarFair parks. Thats just my humble opinion.

Sit back and enjoy the ride.

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