SIX Valued less than $1/share

by **BP317** on March 14th, 2009, 10:45 pm

"We’re not going out of business,” Bloomberg quotes Speed as saying.

by **monsterfan99** on March 14th, 2009, 11:47 pm

FParker185 wrote:Six back, relax, and enjoy the ride. Chap 11 bankruptcy is just about the only thing that can save Six Flags, all it would do is restructure the debt and the company would restructure into a more profitable entity.

Either that or find 300 million people to each donate $1 to Six Flags

I consider my dollar to be park of either the $65 parking pass or the $8.00 corn dog and wet fries.

by **onyxhotel08** on March 15th, 2009, 11:17 pm

I'm game for going them a dollar...even $5! Just stay open for the next 100 years as I don't intend to go to any other park for a while...

by **Ilovthevu'** on March 17th, 2009, 10:41 am

Don't they owe $130 million to the people in August? Well, isn't there new improvements spending per year about 100 million? How about forgetting new projects for this year than? I know you have to have maintenance money, but forget Bucanneer Battle, retheming of Medusa & Superman, Wiggle's World, and so on.

In the press release for Six Flags, it's says per capita went up partly because of "rentals". I wonder what rentals means. Lockers, maybe??? Hmmm.. Six Flags profit is non other than advertising like mad in park, - rides, - live shows, - ads on tvs, + lockers, and Shapiro was always talking about that if it's not that busy, you don't have so workers come into the park as if it were packed. Attendance increase is based on let the people come in cheaply mentality.

They are making the parks too much of a value. If they get to 3 years from now, and you raise the prices, the people are going to not come because they are so used to $29.99 admission. A carnival wristband is more expensive per hour than Great America is. That's kind of ridiculous considering Great America probably has 125 million in that park while a carnival might have 4 million.

by **Goku1910** on March 17th, 2009, 1:09 pm

you bring up a good point....I don't know why people complain (My dad being one) that $50 is too expensive for a ticket!

There should be no complaining, even $50 is a good deal. The Season pass is an even MORE Ridiculous example!

by **monsterfan99** on March 17th, 2009, 2:38 pm

Ilovthevu' wrote:Don't they owe $130 million to the people in August? Well, isn't there new improvements spending per year about 100 million? How about forgetting new projects for this year than? I know you have to have maintenance money, but forget Bucanneer Battle, retheming of Medusa & Superman, Wiggle's World, and so on.

In the press release for Six Flags, it's says per capita went up partly because of "rentals". I wonder what rentals means. Lockers, maybe??? Hmmm.. Six Flags profit is non other than advertising like mad in park, - rides, - live shows, - ads on tvs, + lockers, and Shapiro was always talking about that if it's not that busy, you don't have so workers come into the park as if it were packed. Attendance increase is based on let the people come in cheaply mentality.

They are making the parks too much of a value. If they get to 3 years from now, and you raise the prices, the people are going to not come because they are so used to $29.99 admission. A carnival wristband is more expensive per hour than Great America is. That's kind of ridiculous considering Great America probably has 125 million in that park while a carnival might have 4 million.

In planning coaster trips this year, I can tell you the following parks with much less are more then SF Great America discount tickets (using the $30 price point.)

Hard Rock Park - $40 and just removed the ride I was traveling to
Adventureland in Iowa - $31
Knobel's - Around $33 for all day ticket and does not include the Haunted Mansion or 2 other things

Hell, Beech Bend is $24 a day for a pass.

by **RagingBullFan** on March 17th, 2009, 4:46 pm

In August 09 SF owes roughly $300 Million in PIERS.

In Feb. '10 SF Owes $130 in notes.

Total debt for Six Flags as of Dec. '08. $2.7 Billion.

Fitch credit rating also believes that Default is inevitable.

http://www.businesswire.com/portal/site ... ewsLang=en

by **BP317** on March 17th, 2009, 4:53 pm

Knobel's - Around $33 for all day ticket and does not include the Haunted Mansion or 2 other things

How many rides are you planning to go on? Phoenix/Twister are like $2.50 and the rest of the rides are $0.75-$1.50. Why would you buy a $33 ticket?

by **monsterfan99** on March 17th, 2009, 8:16 pm

SFGAm07 wrote:
Knobel's - Around $33 for all day ticket and does not include the Haunted Mansion or 2 other things

How many rides are you planning to go on? Phoenix/Twister are like $2.50 and the rest of the rides are $0.75-$1.50. Why would you buy a $33 ticket?

We were looking to do a full day there. Plus, I like to ride coasters 3-4 times if the lines are short and have no clue when I would go back. So right there is 10 a coaster plus Flying Turns is 2.50 also. However, if we just made a quick stop there for the coaster, would defiantly not get the wrist band.

FYI, I just looked up the price and the wrist band is $37.00. So much for getting one of those.

by **w00dland** on March 18th, 2009, 4:34 pm

RagingBullFan wrote:In August 09 SF owes roughly $300 Million in PIERS.

In Feb. '10 SF Owes $130 in notes.

Total debt for Six Flags as of Dec. '08. $2.7 Billion.

Fitch credit rating also believes that Default is inevitable.

http://www.businesswire.com/portal/site ... ewsLang=en

And unless they unload about 10 parks in 4 months they will default, because with today's credit market I really don't see a whole lot of debtors saying "Ah its okay, we know that you're good for the 300 million eventually, its not like we've been having trouble giving out loans or anything lately"

I don't see the company just plain going under, but they will definitely be getting some chapter 11 protection in the near future, even if they had the most incredibly profitable summer ever (which for some reason I just don't see happening) they won't even come close to what they owe in the next 9 months.

by **Goku1910** on March 18th, 2009, 4:37 pm

But what technically will happen if Chapter 11 is filed??

Doesn't Bankruptcy last for 7 years?

(I haven't had Govmnt. class in high School yet sop I don't know Economics....)

by **bigb7965** on March 18th, 2009, 5:26 pm

^ Am govt' doesn't teach economics....

by **Goku1910** on March 18th, 2009, 5:42 pm

I have one semester each...like half of it is focused pm Econ.

by **monsterfan99** on March 18th, 2009, 7:49 pm

Goku1910 wrote:But what technically will happen if Chapter 11 is filed??

Doesn't Bankruptcy last for 7 years?

(I haven't had Govmnt. class in high School yet sop I don't know Economics....)

With Chapter 11, they basically get a 2nd chance. The debt is restricted (some wiped clean) and the company gets a new plan. It also can basically wipe away any stocks that are out, but not always (K-mart was that way and their stocks went from around $.50 to $20 in 2 years.)

The 7 year deal is mainly for the credit rating.

by **monsterfan99** on March 18th, 2009, 7:50 pm

w00dland wrote:
RagingBullFan wrote:In August 09 SF owes roughly $300 Million in PIERS.

In Feb. '10 SF Owes $130 in notes.

Total debt for Six Flags as of Dec. '08. $2.7 Billion.

Fitch credit rating also believes that Default is inevitable.

http://www.businesswire.com/portal/site ... ewsLang=en

And unless they unload about 10 parks in 4 months they will default, because with today's credit market I really don't see a whole lot of debtors saying "Ah its okay, we know that you're good for the 300 million eventually, its not like we've been having trouble giving out loans or anything lately"

I don't see the company just plain going under, but they will definitely be getting some chapter 11 protection in the near future, even if they had the most incredibly profitable summer ever (which for some reason I just don't see happening) they won't even come close to what they owe in the next 9 months.

Well, for the PEIRS, they do have an approved loan. The parks are doing great and should continue with people taking less true vacations and more one day trips. The ship is turning in the right direction, just hope they didn't step in a year or so too late.

by **onyxhotel08** on March 19th, 2009, 1:11 am

Six Flags will be fine was long as they stop putting all their eggs in one basket which they seem to be getting better at each year. I still stand behind my suggestion of having ONE season (2012?) where NOTHING new gets installed. Fix up necessary maintenance problems but stop thinking people will not go to a park like Magic Mountain or any of those that get remodeled rides/kiddie areas if something doesn't get put in every year.

by **RagingBullFan** on March 22nd, 2009, 1:43 am

Do they have a PIERS approved loan? It was my understanding their only available credit line was a $300 million revolving credit line that they use for their daily operations budget, if they were to use that they would have no money for things such as maintenance, food inventories, etc...

by **FParker185** on March 22nd, 2009, 2:19 am

Yeah, that's my understanding as well. SF has that line of credit they use for operations. As of right now they don't have anywhere near enough liquid $$ on hand to come anywhere near paying off the PIERS or any other debt.

And if they choose a year to do nothing ride wise and fix infrastructure and do cosmetic maintenance(which is a great idea), it should be next year, then they can save some $$, make the parks look real nice and top notch, then in 2012 when the 50'th comes around and they do all their additions at all the parks, then that will bring a lot of people into the parks who would be impressed by how the parks look and are maintained, and hopefully also by much improved operations, and they would keep coming back after seeing that their local park isn't the hole it once was.

Although as far as I can tell right now, at least for next year at SFGAm, this is not the case. If that is the case, judging solely by what I've heard. 2012 at SFGAm will be less than impressive I'd guess. Either kids area or flat ride package or something. I doubt we'd see 2 major infusions of capital back to back. Of course plans change often.

by **onyxhotel08** on March 22nd, 2009, 11:35 am

We just got a kids area in 2007 and don;t really have room for another one...our last major coaster was in 2003...

by **cycamps** on March 31st, 2009, 6:47 pm

Here's a video that was on CBS News recently about Six Flags. Shapiro was interviewed in the video, and they talked about the current state of the company. http://www.cbsnews.com/video/watch/?id=4902854n

by **Goku1910** on March 31st, 2009, 8:20 pm

^ Great Find!

Hopefully those Creditors restructure!

by **onyxhotel08** on April 1st, 2009, 12:17 am

I feel so bad for them. They are really trying. Well, the every-year-a-ride-at-SFMM hurts them but if Shapiro ran things back int he day there would be no multi-billion dollar debt.

by **Goku1910** on April 1st, 2009, 6:51 am

^But he actually got people to visit the parks!

Don't forget.

by **DejaVu2001** on April 9th, 2009, 6:41 pm

SIX is being delisted from the New York Stock Exchange.

http://www.cnbc.com/id/30141529/for/cnbc/

by **Jackluver18** on April 9th, 2009, 7:29 pm

Oh great that's not good

SIX Valued less than $1/share

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