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Six Flags Files for Bankruptcy

By Harry Kimball,  Newser Staff

Posted Jun 13, 2009 1:04 PM CDT
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(Newser) – Theme park operator Six Flags has declared bankruptcy, Bloomberg reports. The company has not had a profitable year since 1998 and is burdened with $2.4 billion in debt. Six Flags underwent a wide-ranging reorganization starting in 2005 when Washington Redskins owner Daniel Snyder became chairman. The company, whose 20 parks draw 25 million visitors a year, seeks to reduce its debt by $1.8 billion and eliminate $300 million in stock obligations.

The Batman roller coaster is seen at Six Flags over Georgia in Atlanta.
The Batman roller coaster is seen at Six Flags over Georgia in Atlanta.   (AP Photo)
Six Flags chairman and Washington Redskins owner Daniel Snyder.
Six Flags chairman and Washington Redskins owner Daniel Snyder.   (AP Photo)
A Six Flags park.
A Six Flags park.   (AP Photo)
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COMMENTS
Showing 3 of 10 comments
AdaptAndOvercome
Jun 15, 2009 5:20 AM CDT
So your a Palin-McCain- Joe the Plummer follower. Did you forget all the American's dimes that the Republican spent on Palin clothing, all the vacations she took on "your" dime. Of course , you did. You need to turn of Rush LImbaugh and actually read a book or watch something other than Fox. You sound like a broken Republican record...kind of snowy and rough. And just to stay "on subject". It was the Wealthy under Bush that created the mess and the Wealthy owner of the Washington Redskins is a greedy individual, just like members of his party--- and since Obama became President, we are starting to see a slow and steady recovery.
AdaptAndOvercome
Jun 15, 2009 5:14 AM CDT
Serves those greedy bastards right. An average ticket $42.00 (even for an infant who can't ride anyting it's about $28-$36), then they charge you $10-$15 dollars to park your car. So before you can get into the park a family of 4 has already spent about $175. Then they charge rediculous prices for their food and drinks, the rides are usually out of service or have 1 1/2 hour waits just to ride once. If I have to spend $300 at a park for 1 day, I'd rather spend it on a weekend getaway with the kids because that pays for a hotel and meals. Disney world/land gives you a pass for atleast 3 days for what Six Flags wants and the Branson Missouri has a theme park that costs less and lets you in for free the day before if you arrive before after 3:00, so you get a half day for free and their food and drinks are comprable to eating at McDonalds. Bet Six Flags CEO's had great salary packages and parachutes of the backs of struggling families trying to give their kids some quality and fun time.
nick
Jun 14, 2009 12:32 PM CDT
Those park conditions point to bad management. I would think that either firings have occurred or executive pay packages and bonuses have been significantly reduced, or both, since 1998.

 
Washington Redskins • debt • amusement parks • theme park • Daniel Snyder • Six Flags • bankruptcy protection • obligations

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