arby wrote:While I want this part of the topic to die, I do feel the need to point out the positive aspects with some factual data.
The former Dick Kinzel entourage did consider selling the park in 2009. They are also the ones who did overpay for Paramount parks. Why did they do that? Because they saw the big potential in growing Cedar Fair in the long term.
Since 2009, Mr. Kinzel retired and the board of directors looked outward to find a solid CEO to run the company and move it forward. They brought in Matt Ouimet who had experience in areas they were lacking, mainly targeting families of all ages and not just thrill seekers. Looking at the big players out there, that is really what draws in the crowds and money.
Since Mr. Ouimet took over, they have restructured their debt several times and now have it under control. They do have a plan to pay it down and are using proven business tactics to do so. While their growth has been relatively slow and steady, they know that because in order to get to the next level they have to pay out more than normal just to get the key Cedar Fair parks up to snuff. That in turn should continue to increase their revenue and allow them to pay off the debt sooner.
If you look at their debt and say they are bankrupt, the same probably goes for most of us here, since not many of us are able to pay cash for our houses and cars. We owe more than we make in a year but work hard at our jobs in order pay our monthly debt payments and focus on removing the debt all together, not considering ourselves bankrupt. Mr. Ouimet keeps mentioning focusing on investments with a high ROI (return on investment) and I think they are doing good in that perspective.
The stock market keeps an eye on these things much closer than we do. So instead of focusing on everything in the picture left of the red line, I focus on the big positive that is indicated on the right of the red line, which is more the present and less the distant past.
FUN.PNG
Also, people fail to realize that stakeholders always look forward, Your value today is based on future growth potential. Over on TPR someone came on the other night and slammed Kings Dominion by saying the reason the park is not getting the Carowinds treatment is because over the years they had been give preferential treatment. Yet, Carowinds, which had been fairly neglected had managed to keep up with them in attendance and revenue. Of course Rob, called him a 'dick' and banned him. From a profit point of view, the guy was telling the truth. The situation suggests the park was undeserving it's market. The same can be said for Canada's Wonderland. KD has had a boat load of money thrown at it but currently the growth potential is not there. Apparently I-305 did not deliver the expected boost. Like at Cedar Point, CF will continue to pump money into Carowind's and Wonderland until the growth levels out. This is why it is important that we keep buying passes and keep visiting the park. As some have said over and over, the heads at CF know what they are doing. The water park, and Scarowinds likely account for a huge chunk of profits for the park, Thunder Road did not. Honesty, Thunder Road lost it usefulness as a profit generating entity decades ago. It was just taking up space and costing money to keep running.
Yes I liked Thunder Road and hated to see it go, no a waterpark is not my favorite thing to do, but I am able to step back and see the big picture. All those screaming little kids filling up the wave pool and pooping and urinating in the water are going to bring me my Giant Frisbee and another coaster real soon. So bring on the slides, the new entrance, and I might even come over lay on a lawn chair and watch dirty little kids play in nasty water, but I'm not getting in.
I don't get it, I had perfect credit for years until I went in debt. Which by the way the credit agency has been more helpful than Verizon Wireless ever was. I ain't never had a credit card either and except for a secondary account with Verizon all my bills have always been on time. So please explain your post.
Umbrella drinks with fun collectors cups would be cool to have while lounging around the pool or reclining in your cabanas and enjoying the scenery. Now if we could get them to have people come out and replenish the drinks instead of me walking to Schooners....I would be rooted for the Summer.