Monday, May 9, 2011

Company News and Company Blues

The Sandusky Register has an interesting article detailing newly released court documents regarding the wrongful termination suit Jack Falfas has filed.

Was Rock Band Live! really that bad?  Seems that Dick Kinzel may have thought so, according to the report.  Seems the $1.6 million show was part of the rift between the two executives, leading to a phone call that led to the resignation / termination of Mr. Falfas.  The difference between resignation and termination is now the fodder for the lawsuit that has been filed.

In operations news, the company also released some generally uneventful 1st quarter earnings.  Cedar Fair hopes to have a solid season from its new "leading-edge attractions and family-friendly shows."

Six Flags recently announced a two-for-one stock split, as well as a quarterly cash distribution of six cents per share.  Neither moves are something that a company who isn't doing well is typically able to do, so that's good news.

I also noticed an interview in April's edition of Funworld with CEO James Reid-Anderson.  Both new to the job and the industry, James has already made some noticeable changes in the company since taking charge last August.  I was pretty on board with what I was hearing him say until this: "If you look at our lineup for 2011, it is fantastic— probably the most exciting overall lineup in a decade for Six Flags."  Do you guys agree with that assessment?


Ryan said...

I'm excited that Six Flags is off of its hind quarters again and doing well again, but honestly until Cedar Fair can drop all of this nonsense (and Q) they will not be very (if at all) successful.