Monday, July 30, 2007

Who the Hell is Destiny Capital Solutions, Inc?

Edit: Okay Cedar Fair says this is all untrue. I'll leave the thoughts below as is just beause I enjoyed my detective work.

So the New York Post is now reporting that Destiny Capital Solutions, Inc. is in "fast-moving" talks with Cedar Fair for a $4.1 billion buyout of the company.

My first thought was: I've never heard of them. Who the hell are they?

Well, it appears as though Destiny Capital Solutions, Inc. hasn't done much of anything, ever. You can google it all you want but it won't get you far.

According to this article from the Gilroy Dispatch, Robert McDuff Sr. and Sam Roham created Destiny Capital as an investment company in Nevada in order to back their plan to buy and develop Gilroy Gardens in California. Their plan to purchase and expand that park met heavy resistance from the local community.

The duo appear to also work for Alliant Real Estate & Financial Services, as that organization's webpage has a blurb about Destiny Capital's Gilroy Gardens plans.

This is all strange, no?

The NYP says that when Destiny Capital realized that Cedar Fair has a management contract for Gilroy Gardens and they were seeking a buyout they jumped.

The city of Gilroy declined the initial offer to purchase Gilroy Gardens. At that point, Mr. McDuff said that "we're going to pursue it until we can't pursue it anymore." (article)

Even more strange, no?

So since then McDuff and Destiny Capital have put in an even larger offer to the city of Gilroy.

I know it's taking a big leap, but is this man/company pursuing Cedar Fair just to get one step closer to Gilroy Gardens? McDuff appears to be a Gilroy local and emotional connections to Gilroy Gardens.

This whole thing is leaving me feel uneasy. I'm not against a buyout, but there are too many question marks associated with this Destiny Capital for my liking.


Unknown said...

I think Destiny Capital Solutions, Inc might be in talks with Cedar Fair to buy Gilroy Gardens, not the whole chain.