Six Flags Financial Crisis Capitalistic Enterprise Business 10A Edward Bayone May 7, 2010 Table of Contents A. Introduction B. Financial Crisis C. The Economic Environment D. Competition E. Changes F. Conclusion G. Exhibits H. Work Cited 3 5 8 9 10 12 13 15 “This year is very much about stabilizing the company and keeping it on the rails while at the same time pursuing growth avenues on the marketing and international front.” -Mark Shapiro, Six Flags CEO A. Introduction Founded in Texas, Six Flags is the world’s largest regional theme park (by the quantity of properties it owns) that provides world class, thrilling entertainment for families, teens, and young adults. Since 1961, when Angus G. Wynne started the chain, …show more content…
Recently, it was been declared on May 6, 2010 that the Kentucky Kingdom will not be reopening for the summer of 2010 due to the financial crisis.2 To visit Six Flags, two options can be made regarding purchasing a ticket. A consumer may either purchase a season pass or a one-day ticket. The price for the 2010 season pass is around $75 once the season begins, but if purchased before the season begins, the price is reduced to about $55. For daily tickets, general admission is around $42, people under 54” by height is around $31, and two year old children or under are admitted free of charge. However, if the tickets are bought online, then everyone pays the price of a child at around $31. There are also group discounts for groups of 15 or more, in which case, the price is around $25 per person. For those who do not want to wait in line and wish to get special treatment at the park, such as private sessions with Bugs Bunny (the mascot), the tickets are $249 each.3 Ticket prices vary based on location by a few dollar amounts, but are mostly about the same. The prices that have been listed here are based on the Massachusetts park located in Springfield. Six Flags wishes to have a reputation for “value-packed thrills” and therefore has a lower price than other competing parks. For example, Kings Dominion, which is a rival theme park in Virginia for the Baltimore, Maryland Six ^° ^ ^f #<° n . Bubny, Paul. “Six Flags
Six Flags, Inc. is the largest regional theme park operator in the world. Currently Six Flags operates 18 parks in the US, one in Canada and one in Mexico. In the aggregate, Six Flags’ theme parks offer over 800 rides, including more than 120 roller coasters. The following questions pertain to Six Flags’ goodwill.
In order to ensure the enjoyment of all guests, theme parks must establish entertainment and activities for people of all ages. When Walt Disney World was created, the co-founders intended to bring magic to all age groups. To ensure this, they created a plethora of attractions to entertain all types of people. For children, the park has low thrill rides that include Toy Story Mania, an interactive ride featuring the characters Buzz Lightyear and Woody, and Tomorrowland Speedway, a ride for children to drive miniature race cars (McNesby, 2017). Children may also enjoy character greetings and autograph signings from characters like Mickey and Minnie Mouse, Goofy, and Cinderella. These characters can be found wandering the park or reservations may be made to dine with
Six Flags Over Georgia is the largest amusement park in all of Georgia, and as a result they employ a large amount of employees. During the course of the trial, one witness stated that “the majority” of Six Flags’ park employees were affiliated with one gang or another. Six Flags was well aware of this issue with gang related conflicts being a frequent line of discussion during park security briefings. Less than a year prior to Martin's attack, a gang related drive by shooting resulting in the injury of three Six Flags employees. Six Flags management was so concerned with how this incident would be portrayed in the media, that they
Have you ever been to six flags? It's located in Atlanta Georgia and it is filled with amazing rides and superhero merchandise and souvenirs. Six flags atlanta has rides that make you wanna run away from it or just wanna to get on and make yourself sick after repeating.
Cedar Fair has amusement parks in 9 states and also in Toronto, Canada. It owns 11 parks including Kings Island. It also owns two water parks. It’s headquarters are in Sandusky, Ohio and they have an amusement park called Cedar Point there. Matthew Ouimet is the President and CEO of the company. Earlier in his life, he served at Disneyland and has plenty of amusement park experience. The company Six Flags owns Six Flags Great America. Their headquarters are in Grand Prairie, Texas. The founder of Six Flags, Angus Wynne, opened the first park of their company in 1962 in Texas. They own 13 Amusement park and is the second largest theme park company in the US following
Unit 38 Business and the Economic EnvironmentLearner name Assessor nameSameeha Hussain/Antonio ZarroDate unit issuedUnit DeadlineDate unit submitted by student27/01/1419/04/14 Criteria referenceTo achieve the criteria the evidence must show that the learner is able toAsst Task no. Assessor initial date when metPASS CRITERIAP1 Explain the effects of changes in the economic environment on a selected business P2 Identify how government policies impact on a selected business P3 Identify the impact of government spending on a selected businessP4 Explain how both fiscal and monetary policy decisions have affected a selected businessP5 Describe the impact of international factors on a selected business M1 Analyse the implications of
Amusement parks are in the umbrella of the hospitality industry. One of its goals is to provide entertainment for all guests. It has been that way since the beginning and has been advancing ever since. If anyone had to say it the best, it will have to be the father of the amusement parks, Walt Disney. “Here you leave today and enter the world of yesterday, tomorrow and fantasy” (GoodReads). He understood that how important amusement parks are, how keeping the original charm that the guest grew to love and advancing that park to make the guests continue to enjoy the park for years to come. Understanding the past, present and future of the amusement park will show how these parks have lasted for years and years.
Six Flags is synonymous with thrills, laughter, and screams of joy. However, in June, 2006, investors were not laughing. As KMGH Denver reports (2006), shares of Six Flags Inc. dropped sharply on Friday when debt rating agencies lowered their outlooks on the amusement park operator after it said attendance and revenues had fallen. (para 2).
One of the primary factors that can be attributed as to have led the recent financial crisis is the financial deregulation allowing financial institutions a lot of freedom in the way they operated. The manifestation of this was seen in the form of:
“Since 2007 to mid 2009, global financial markets and systems have been in the grip of the worst financial crisis since the depression era of the late 1920s. Major Banks in the U.S., the U.K. and Europe have collapsed and been bailed out by state aid”. (Valdez and Molyneux, 2010) Identify the main macroeconomic and microeconomic causes that resulted in the above-mentioned crisis and make an assessment of the success or otherwise of the actions taken by the U.K government to resolve the problem.
are one of the leading reasons people vacation to many destinations. The theme park market is
Busch Gardens is an amusement park located in Williamsburg, West Virginia and opened in 1975 (Spiller, 2014). It hosts a European theme and holds many events throughout the year to draw in guests. Their assortment of beautifully decorated awarding winning athletic for 22 years has given them a well-known reputation throughout the world (Spiller, 2014). The park has a variety of events that keep spectators visiting the site like their unique foods from around the world, the various shops for shopaholics to enjoy, several live shows, and many rides that visitors could find exciting and thrilling.
Competing amusement parks has upgraded their attractions to attract more consumers and Disney is has recently strategizing this approach to a more concentrated perspective. This can ultimately lower their revenues until the plan is complete.
The Walt Disney Company Parks and Resorts strive to be the leader in innovative and creative family entertainment in the world. The mission of The Walt Disney Company Parks and Resorts is to provide “magical” experiences to all guests that visit our Parks and Resorts. We use technology, innovation, and imagination to create a unique entertainment experience comparable to nothing else.
Risk related to events even before the War on Terror began, the Sept. 11, attacks dealt a harsh blow to America financial standing (DePietro, 2017).sintressing the future role in which finance leadership is evolving. Equally alarming this crisis that influences an organization's decision-making, based on significant external and uncontrollable factors. Some of these aspects that remained obtainable in this discussed involve the economic factors, legal, political, and social conditions technological changes. The change of Interest rates in