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  1. #31

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Now that I would agree with. To me, Six Flags has always been rather behind the times with how their Season Pass program is structured. Keeping admission to all Six Flags parks included would be fine, but change it to a 12-month Annual Pass. It comes off as slightly disingenuous that people are paying the same price while, with each passing day, the Season Pass will be good for one less than Season Passes sold the day before, and thus are worth slightly less than Season Passes sold the day before.

    My hasty quick-fix solution: Raise cheapest 12-month Pass to $99, and make it valid for 365 days from date of purchase/first use in case of upgrade. Make sure a full 12-month calendar is available so people know when off-season closures are.

    "Who among you is wise and understanding? Let him show by his good behavior his deeds in the gentleness of wisdom." -- James 3:13

  2. #32

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    I don't entirely see how it's disingenuous. Most entertainment venues off passes that are distinctly season-based. I'd always assumed the Annual Pass Disney offers is a simply result of the fact that they're open year-round and don't have a distinct operating season. Look at sporting venues, ski resorts, performance centers. All offer a pass that is for a given season.

    I think the 12-month pass is all but unnecessary when there is a distinct and pre-determined season.

    The price of said pass, however, is ridiculous.
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  3. #33

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    SFMM, though, is open 12 months a year, though some of that is weekend-only. Other places in the country where it snows, yeah it's a season similar to a ski resort, but that doesn't happen at SFMM. SFMM can be open 365 days a year if they could afford it. Even though that'll never happen, SFMM's off season weekend operation makes it a perfect test subject for a 12-month Pass, IMO.

    It's just something I'd like to see come to SFMM given the market it competes in.

    "Who among you is wise and understanding? Let him show by his good behavior his deeds in the gentleness of wisdom." -- James 3:13

  4. #34

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Ah, true, forgot about SFMM. I suppose then the 12-month pass would made sense there, but it would take an effort to coordinate that with the other parks. Not that it couldn't be done, the technology for validating passes is not that complicated, but I'm not sure that's really the best place for the company to be focusing its attention.

    But if by whatever stroke of fate SFMM ends up as a solely owned/operated park, I can certainly see the logic behind the idea, and would even hope to see it.
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  5. #35

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    and one more thing. is six flags really busy on spring break just like disneyland? Im thinking of buying a ticket at my union site for only 26 bucks. which is the cheapest of them all I think.

  6. #36

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Quote Originally Posted by Rex Dopey24 View Post
    and one more thing. is six flags really busy on spring break just like disneyland? Im thinking of buying a ticket at my union site for only 26 bucks. which is the cheapest of them all I think.
    I would imagine that the Saturdays would be fairly busy as the hours are 10:30 am to 10 pm. If it does end up being crowded, I'd suggest buying a Flash Pass once you're in the park

  7. #37

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    thanks.

  8. #38

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Spring Break is traditionally a busy season, and the past couple of weekends have been pretty crazy @ SFMM. Each day I've seen the primary guest parking lot about 90% full.

    "Who among you is wise and understanding? Let him show by his good behavior his deeds in the gentleness of wisdom." -- James 3:13

  9. #39

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    In an attempt to get this thread back on topic

    Debt holder keeps Six Flags at bay - The Boston Globe

    NEW YORK - Six Flags Inc. chief executive Mark Shapiro said one of the theme park owner's biggest debt holders refuses to meet with the company on restructuring.


    "One of our principal debt holders who holds a significant amount of our senior notes due 2010 has thus far resisted a consensual restructuring," Shapiro said on a conference call.


    Six Flags, whose 20 amusement parks include one in Agawam, Mass., is seeking to restructure before the mandatory Aug. 15 redemption of $287.5 million of Preferred Income Equity Redeemable Shares. Failure to refinance or restructure the PIERS before the redemption date would constitute a default under the company's credit facility, which would hasten due dates for long-term debt and have a "material adverse effect" on operations, Six Flags said.

    Debt holders may receive equity in Six Flags by the end of the year, whether the company restructures out of court or files for prearranged bankruptcy, finance chief Jeffrey Speed said.
    Can't say I'm surprised the debt holders are unwilling to meet. They're not the only ones in this economy who want what is owed to them.
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  10. #40

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Quote Originally Posted by sarki7
    Can't say I'm surprised the debt holders are unwilling to meet. They're not the only ones in this economy who want what is owed to them.
    Except they have to know, because it's basic concept in business, that no debtor recoups all it's owed from a liquidation. The whole reason for a debt restructure is to get a better deal than a flat liquidation. It's like a foreclosure - everybody loses.

    "Who among you is wise and understanding? Let him show by his good behavior his deeds in the gentleness of wisdom." -- James 3:13

  11. #41

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    I actually think Six Flags is trying to do the right thing by meeting with the debtor to try and re-negotiate. The debtor will likely get more out of the deal (albeit at a longer term agreement) than they would with a liquidation.


  12. #42

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    Re: Six Flags announces that there is 'Substantial Doubt' that it will survive

    Assuming the company can actually get out of debt, of course!

    Quote Originally Posted by PeoplemoverMatt View Post
    Except they have to know, because it's basic concept in business, that no debtor recoups all it's owed from a liquidation. The whole reason for a debt restructure is to get a better deal than a flat liquidation. It's like a foreclosure - everybody loses.
    Of course they know. It seems pretty obvious they're trying to get whatever money they can now, as opposed to throwing good loans after bad and ending up in the same place in the future.

    Sorry, but it looks like they're not betting on SF to succeed. Can't say I blame them.
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