Sunday, June 14, 2009

Six Flags files for Chapter 11

What? No bail out for amusement parks? Oh that's right our elected cockroaches are in the process of raising taxes on all of the "things" we common people do for enjoyment, like drink sweet drinks, drink alcohol and eat fatty foods. How dare we ask them to help amusement parks?

From San Francisco Business Times:

Debt-ridden amusement park operator Six Flags has filed for Chapter 11 bankruptcy reorganization.

The New York-based chain of parks, which runs Six Flags Discovery Kingdom in Vallejo, has been trying to renegotiate terms with lenders on hundreds of millions of dollars in debt.

Six Flags parks, including Discovery Kingdom., will continue to operate as usual under reorganization.

I guess they are not "too Big to fail", Huh? But notice that they say they are "reorganizing". I wonder if we let all the rest of these companies "reorganize", what would happen? Any thoughts?

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