Snyders SIx Flags "sinking fast"

[BrunellMVP?]

Even with the marketcap down to 180 million, its still be a hefty tab to privatize the company. You'd think with 27 parks, the land alone and the scrap metal, liquidation of salvageable equipment would be worth 200+ mill.

[FRPLG]

Originally Posted by BrunellMVP?

Even with the marketcap down to 180 million, its still be a hefty tab to privatize the company. You'd think with 27 parks, the land alone and the scrap metal, liquidation of salvageable equipment would be worth 200+ mill.

The land itself is probably worth over half a billion.

[BrunellMVP?]

Originally Posted by FRPLG

The land itself is probably worth over half a billion.

I was thinking the same thing...parts worth a lot more than the whole, sort of what they did with Sears not that long ago..sell the poor performing sites for cash.

[Schneed10]

Originally Posted by FRPLG

The land itself is probably worth over half a billion.

Yeah that's pretty much exactly why he bought it. He didn't care about the park business, the intrinsic value on the real estate alone made it a decent investment.

[Campbell17]

Originally Posted by Schneed10

Yeah that's pretty much exactly why he bought it. He didn't care about the park business, the intrinsic value on the real estate alone made it a decent investment.

He could always sell out.

[redwagonskins]

Originally Posted by BrunellMVP?

Even with the marketcap down to 180 million, its still be a hefty tab to privatize the company. You'd think with 27 parks, the land alone and the scrap metal, liquidation of salvageable equipment would be worth 200+ mill.

You have to wonder what kind of liabilities they have though. There are all sorts of financing issues (i.e. debt in the form of loans and mortgages among) as well as legal liabilities (i.e. people choking on cotton candy while riding the coaster ans suing for $10 mill). And did he buy the company with pure cash or does he have debt he's paying off on that as well?