May 26, 200619 yr That Ohio river plays the role of a very definite psychological boundary separating north/south, enlightened/unenlightened, etc... lol.
June 15, 200618 yr From the 6/15/06 Toledo Blade: Cedar Fair to offer stock for 2nd time since IPO Proceeds will help finance acquisition By HOMER BRICKEY BLADE SENIOR BUSINESS WRITER SANDUSKY - Cedar Fair LP, which operates Cedar Point and six other amusement parks nationwide, is offering stock to the public for just the second time since its initial public offering in 1987. This time, Cedar Fair hopes to raise up to $250 million to help finance its $1.24 billion acquisition of five parks owned by Paramount Parks Inc., of Charlotte, N.C., a unit of CBS Corp... Contact Jon Chavez at: [email protected] or 419-724-6128. http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20060613/BUSINESS06/606130323/-1/RSS04
June 15, 200618 yr Isn't Charlotte where Duke Energy is? Or Raleigh or something. Damnit we keep losing business to NC
June 16, 200618 yr Isn't Charlotte where Duke Energy is? Or Raleigh or something. Damnit we keep losing business to NC What company have we lost to North Carolina, except Cinergy?
June 16, 200618 yr None that I'm aware of but if this happens then that makes 2. I was just making it seem worse than it is, that's all.
June 17, 200618 yr i love above on this thread how some of the southerners are getting so worked up because the northern ohio yankees bought kings island. too funny! :laugh: Was that some wise ass remark that Cincinnati is Southern? Watch yourself buddy, I don't take kindly to Cincinnati being called southern. You should know better! :roll: huh? err, that was about southern ohioans, as in more than halfway down. thats ok it's good to see move-ins go native hardcore & god bless ya for it. i wondered if anyone been to king's island yet and noticed any changes? we are talking about going in july.
June 18, 200618 yr None that I'm aware of but if this happens then that makes 2. I was just making it seem worse than it is, that's all. I don't think you read that right. Paramount Parks is based in Charlotte. If this sale goes through it will be bought out by an Ohio company so in a sense it is Ohio buying out a North Carolina company.
June 19, 200618 yr You will not see any changes yet, because the deal is not done. After the deal is complete (should be end of June or so) you still will not see much changes. They have even annouced that next years new attraction has already been bought. Also, there has been some talk that Cedar Fair may move their headquarters to Charlotte, NC from Sandusky. So, this may turn out to be a North Carolina company being bought by an Ohio company to become a North Carolina Company. We shall see.
June 21, 200618 yr From the 6/20/06 Toledo Blade: PHOTO: Cedar Fair's flagship park, its water park, and nearby hotels pulled in $210 million last year. ( THE BLADE ) PHOTO: Knott's Berry Farm is Cedar Fair's second-largest income source. PHOTO: Kings Island, near Cincinnati, had $108 million in revenue in 2005. Kings Island had more visitors, Cedar Point more income in '05 Rare disclosure for amusement parks By JON CHAVEZ BLADE BUSINESS WRITER Rivals for years, Kings Island amusement park near Cincinnati outdrew Cedar Point in Sandusky in attendance by nearly 200,000 visitors last year. But in generating income, Cedar Point won by a demon drop over Kings Island. In what is a rare disclosure of amusement park revenue, Cedar Fair LP told potential lenders last week that its flagship site, Cedar Point, and its water park and nearby hotels pulled in $210 million in 2005... Contact Jon Chavez at: [email protected] or 419-724-6128. http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20060620/BUSINESS06/606200357/-1/BUSINESS
June 27, 200618 yr From the 6/27/06 Toledo Blade: Cedar Fair proposes loan terms for purchase SANDUSKY - Cedar Fair LP, owner of seven amusement parks including Cedar Point, proposed terms on $2.09 billion of loans to fund the purchase of the Paramount Parks unit of CBS Corp., said a person involved in the deal... http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20060627/BUSINESS06/60627001/-1/BUSINESS
June 30, 200618 yr Good bye Paramount Parks, hello Cedar Fair! Hopefully Cedar Fair will bring some needed changes to the new acquistioned parks. CEDAR FAIR, L.P. COMPLETES ACQUISITION OF THE PARAMOUNT PARKS SANDUSKY, OHIO, June 30, 2006 -- Cedar Fair, L.P. (NYSE: FUN), today announced that it has completed its acquisition of the Paramount Parks from CBS Corporation (NYSE: CBS), in a cash transaction valued at approximately $1.24 billion. Cedar Fair will assume the complete operations and management of the parks immediately. “The completion of this acquisition is great news,” said Dick Kinzel, Cedar Fair’s chairman, president and chief executive officer. “The five Paramount properties are well-run, top-tier parks in good locations with the potential to do even better. The acquisition brings us access to new markets with attractive demographics, such as northern California, the Carolinas, Virginia / District of Columbia and Toronto. We now have a well-balanced portfolio of operations with four parks producing annual attendance over three million visitors each (Cedar Point, Kings Island, Knott’s Berry Farm and Canada’s Wonderland) and, on a proforma basis, no single park contributes more than 22% of revenues based on 2005 results. Our combined operations now include 12 amusement parks, five outdoor water parks, one indoor water park and six hotels, and will entertain approximately 25 million guests annually.” The five Paramount Parks consist of Canada’s Wonderland near Toronto, Canada; Kings Island near Cincinnati, Ohio; Kings Dominion near Richmond, Virginia; Carowinds near Charlotte, North Carolina; and Great America located in Santa Clara, California. Kinzel added, “Cedar Fair’s employees as well as many employees from the Paramount Parks have a long history and strong reputation within the industry. They have demonstrated their ability to drive solid returns on investments and are ready and anxious to begin integrating these five great family-oriented parks with our current properties.” Kinzel concluded by noting that the Partnership will issue an additional press release in the near future to provide updated 2006 earnings guidance, which will reflect the revenues and cash flow of the Paramount Parks from the date of the acquisition, and information on the Partnership’s long term financing. Cedar Fair’s other amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott’s Berry Farm near Los Angeles in Buena Park, California; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania; Valleyfair near Minneapolis/St. Paul, Minnesota; Worlds of Fun, located in Kansas City, Missouri; Geauga Lake & Wildwater Kingdom near Cleveland, Ohio; and Michigan’s Adventure near Muskegon, Michigan. The Partnership’s water parks are located near San Diego and in Palm Springs, California, and adjacent to Cedar Point, Knott’s Berry Farm and Worlds of Fun. Cedar Fair also owns and operates the Castaway Bay Indoor Waterpark Resort in Sandusky, Ohio. Cedar Fair’s flagship park, Cedar Point, has been voted the “Best Amusement Park in the World” for eight consecutive years in a prestigious annual poll conducted by Amusement Today newspaper. Some of the statements contained in this news release constitute forward-looking statements. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Partnership believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, competition for consumer leisure time and spending, adverse weather conditions, unanticipated construction delays and other factors could affect attendance at our parks and cause actual results to differ materially from the Partnership’s expectations. In addition, risks and uncertainties concerning the acquisition include, but are not limited to the ability of the Partnership to combine the operations and take advantage of growth, savings and synergy opportunities. http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=15&mode=story&story_id=77
July 7, 200618 yr yay for king's island, ohio welcomes your ownership and profits out of california and back to the state of ohio!
July 8, 200618 yr I am hoping for season passes that include both King's Island and Cedar Point for the 2007 season.
July 9, 200618 yr i hope they build some kick ass coaster that sits 4 across and isnt 1 second long like top gun, face off, outer limits (although i do love this ride), and pretty much every other ride paramount built excluding sob. seriously though, was it me or were most of paramounts rides generic and short? hopefully cedar fair brings back originality.
July 9, 200618 yr ^It's not just cedar point...it's like that pretty much everywhere. I love the Son of Beast for that very reason. They run more coasters on the track at one time so the lines move along a lot quicker; it's awesome. I always liked riding Top Gun though becasue there was never any line, even though the ride itself is pretty sorry.
July 21, 200618 yr ^I grew up in Sandusky, and worked at Cedar Point and local hotels while growing up. I would wager that more people come from Greater Cleveland than anywhere else, but that the Michiganders have the largest local impact, due to the fact that they are much more likely to stay over night. Clevelanders tend to drive in and out on the same day, since it's only an hour away for most, and much less than an hour for many west siders. I'm a lifelong resident of Erie County (all 21 years, God I'm old :-D ); and I wholeheartedly agree with Ewoops' assessment. You just notice the Michiganders more, because they are crazy drivers.....
July 25, 200618 yr Well its official...Cedar Fair sucks! Since taking over they have encountered a safety concern/lawsuit reguarding the Son of Beast and all of the negative press that came with it. And now they have cancelled WinterFest (not that I am too concerned about this). Maybe Paramount should buy Cedar Point and: wreck Millenium Force and then shut down their water park.....seems logical to me.
July 25, 200618 yr Well its official...Cedar Fair sucks! Since taking over they have encountered a safety concern/lawsuit reguarding the Son of Beast and all of the negative press that came with it. I don't think this was Cedar Fair's fault. Paramount knew that ride had faulty wood from the start. They and the ride manufacturer sued each other over Son of Beast.
July 25, 200618 yr Well its official...Cedar Fair sucks! Since taking over they have encountered a safety concern/lawsuit reguarding the Son of Beast and all of the negative press that came with it. And now they have cancelled WinterFest (not that I am too concerned about this). How strange is it that Winterfest was cancelled the day after the first of many lawsuits were filed against Kings Island and its owner, Cedar Fair. Does it surprise me that Winterfest was cancelled? Not at all, the Merchandise department at KI has a rough enough time making a "reasonable" profit during the main season. But, to me it looks as though the announcement that Winterfest was cancelled was made more to get people to stop talking about how the park was being sued and to getthem to focus upon how sad it is that the nostalgic Winterfest is gone.
July 25, 200618 yr Well its official...Cedar Fair sucks! Since taking over they have encountered a safety concern/lawsuit reguarding the Son of Beast and all of the negative press that came with it. And now they have cancelled WinterFest (not that I am too concerned about this). How strange is it that Winterfest was cancelled the day after the first of many lawsuits were filed against Kings Island and its owner, Cedar Fair. Does it surprise me that Winterfest was cancelled? Not at all, the Merchandise department at KI has a rough enough time making a "reasonable" profit during the main season. But, to me it looks as though the announcement that Winterfest was cancelled was made more to get people to stop talking about how the park was being sued and to getthem to focus upon how sad it is that the nostalgic Winterfest is gone. Maybe they'd get "reasonable" profits if they had "reasonable" prices :-P I'm not paying 5 dollars for a Kings Island water bottle! and Im not paying 4 dollars for a 1 ounce container of futuristic ice cream! The only thing futuristic is the pricing.
July 25, 200618 yr Maybe they'd get "reasonable" profits if they had "reasonable" prices :-P I'm not paying 5 dollars for a Kings Island water bottle! and Im not paying 4 dollars for a 1 ounce container of futuristic ice cream! The only thing futuristic is the pricing. Exactly! I know several season pass holders, and most of them either bring their own food in a cooler in their car, or they get a hand stamp and leave the park for a bite to eat. Also, I did not go to Winterfest because of the price.
July 26, 200618 yr Maybe they'd get "reasonable" profits if they had "reasonable" prices :-P I always thought my swimsuits were priced reasonably. Especially at the end of the season when they get halved in price. We won't talk about the price of a locker rental though... :laugh: I would expect Cedar Fair to do some pricing changes for next year. Cedar Point is their flagship park, and it costs less to visit that park than it does to visit PKI, which will in all likelihood be KI by April of next year. I would also expect there to be one gimmick item that will be ridiculously cheap such as the cotton candy is cheap at CP. Maybe you'll even see all the stores and food stands open on a consistent basis, which is something that PKI doesn't like to do, as they would bend over backwards to save money by closing low performing stores and restaurants during the day to save labor. One thing is for certain though, there will be quite a few changes next year, and while the changes may not be as dramatic as Geauga Lake's transformation it still hopefully will be noticeable for the better.
July 26, 200618 yr how sad it is that the nostalgic Winterfest is gone. Bah, it was reopened for one season and it wasn't the success they thought it would be. After all The Beach Waterpark has cheaper admission to their Holidayfest and if you are a Beach season ticket holder you got in for free while a PKI season ticket holder had to pay another $19 per person to get into the Winterfest. Hardly nostalgic... As for prices, people need to get out of their bubble, any amusement park I have ever been too over charges for merchandise. Even church festivals... ever see those prices? I am hoping that we will see news soon that a 2007 season pass at PKI will get you into Cedar Point for free.
July 27, 200618 yr I am hoping that we will see news soon that a 2007 season pass at PKI will get you into Cedar Point for free. Just to give you a hint of prices to come... Cedar Point/Geauga Lake Combo Pass: $130.00 I am sure it will be cheaper than that price in the short term but I wholly expect the price to be that much if not more during full season for any combo pass.
August 12, 200618 yr From the 8/12/06 Enquirer: Kings Island lays off 15 Owner restructures operations BY ALEXANDER COOLIDGE | ENQUIRER STAFF WRITER Kings Island said it has laid off 15 employees as its new owner Cedar Fair restructures and integrates the amusement park into its operations. Sandusky-based Cedar Fair, which also owns Cedar Point and Knott's Berry Farm, said the move on Thursday eliminated some overlapping functions since two new managers have assumed oversight... Email [email protected] http://news.enquirer.com/apps/pbcs.dll/article?AID=/20060812/BIZ01/608120337/-1/rss
September 8, 200618 yr From the 9/7/06 Toledo Blade: Cedar Fair to keep headquarters in Ohio SANDUSKY Although Cedar Fair LP had suggested it might move its headquarters from Sandusky to North Carolina, a company official said yesterday the amusement parks company wont do that... http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20060907/BUSINESS06/60907008/-1/RSS04
October 14, 200618 yr From the 10/9/06 Dispatch: Cedar Point parent to offer 2007 pass good for parks nationwide Monday, October 09, 2006 Marla Matzer Rose THE COLUMBUS DISPATCH The recent purchase of Paramount Parks by Cedar Fair will mean savings for tourists who frequent both of Ohios top amusement parks. The company that now owns Cedar Point and Paramounts Kings Island is offering a 2007 season pass good for admission to all 12 of its amusement parks for $125, $35 more than a season pass for Cedar Point alone... [email protected] http://www.dispatch.com/business-story.php?story=dispatch/2006/10/09/20061009-F6-03.html
November 20, 200618 yr From the 11/4/06 Toledo Blade: Cedar Point ups daily ticket price by $2 to $41.95 for 2007 season By JON CHAVEZ BLADE BUSINESS WRITER SANDUSKY - Cedar Point, which this year lowered its daily admission price by $5 to help customers hit hard by a struggling economy, has raised its 2007 gate price by $2. Analysts said the move is partly because the amusement park on Lake Erie is getting a big new ride next spring and partly because its lower prices this year failed to boost attendance.... Contact Jon Chavez at: [email protected] or 419-724-6128. http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20061104/BUSINESS06/611040387/-1/BUSINESS From the 11/1/06 Cincinnati Business Courier: Cedar Fair's revenues soar, profit drops Cincinnati Business Courier - November 1, 2006 The acquisition of Paramount Parks produced higher third-quarter revenues for Cedar Fair Entertainment Co., but didn't do much to boost profits. The Sandusky, Ohio-based theme park company posted net income of $132.9 million, or $2.42 per share, compared to $170.8 million, or $3.11 per share in the year-ago quarter. Revenues jumped to $542.1 million from $317 million in third-quarter 2005... http://www.bizjournals.com/cincinnati/stories/2006/10/30/daily33.html?from_rss=1
December 4, 200618 yr Cedar Fair is up to their eye balls in debt. This is a really bad time for them to have went into this much debt, since the US economy is going into a recession in 2007. Before 2010 I think Cedar Fair will be looking to unload two or three of the parks to stabilize the company financially.
December 20, 200618 yr From the 11/28/06 Fostoria Review Times: Fostoria, Danville: A tale of two cities By RUSS ZIMMER staff writer Fostoria could be twins with the Illinois city it has been pitted against by an integral manufacturer. ThyssenKrupp Crankshaft Company announced plans last week to consolidate its machining operations, and then to proceed with a $40 million expansion, in Fostoria or Danville, Ill... http://www.reviewtimes.com/News/backissues/2006/Nov/ar_news_112806.asp#story3
December 20, 200618 yr From the 12/5/06 Fostoria Review Times: Fostoria stands ready to sacrifice By RUSS ZIMMER staff writer Community officials knew sacrifices would be necessary to keep ThyssenKrupp Crankshaft and its 400 jobs from leaving Fostoria and Monday revealed how far those leaders are willing to go. The first formal steps were taken by Fostoria Community Schools and will likely be followed by Fostoria City Council tonight. A resolution will be presented to Fostoria City Council tonight with provisions for real estate and municipal income tax abatements... http://www.reviewtimes.com/News/backissues/2006/Dec/ar_news_120506.asp#story2
December 20, 200618 yr From the 12/7/06 Fostoria Review Times: Word on TK plant coming next week By RUSS ZIMMER staff writer The president of ThyssenKrupp Crankshaft told a Fostoria contingent to expect word from the company by the end of next week, Mayor John Davoli said this morning. During a meeting Wednesday with the head of the manufacturer which recently announced what will either be a celebrated boon or devastating blow to Fostoria, Davoli said he sang the city's praises... http://www.reviewtimes.com/News/backissues/2006/Dec/ar_news_120706.asp#story5
December 20, 200618 yr From the 12/11/06 Fostoria Review Times: Fostoria awaits TK decision By RUSS ZIMMER staff writer ThyssenKrupp officials are expected to decide this week whether it will locate its consolidated crankshaft machining operations in Fostoria or Danville, Ill. City officials are awaiting word after hand-delivering their incentive proposal to the company's corporate headquarters in Danville last wee... http://www.reviewtimes.com/News/backissues/2006/Dec/ar_news_121106.asp#story2
December 20, 200618 yr From the 12/15/06 Fostoria Review Times: TK decision set for next week By RUSS ZIMMER staff writer Whether 391 employees at the ThyssenKrupp Crankshaft plant will be joined by 50 new colleagues or be out of a job will be announced early next week. Word had been expected as late as today, according to previous statements by Mayor John Davoli... http://www.reviewtimes.com/News/backissues/2006/Dec/ar_news_121506.asp#story2
February 1, 200718 yr From the 12/20/06 Fostoria Review Times: TK's decision: Tell 'ya later By RUSS ZIMMER staff writer With no decision expected from ThyssenKrupp Crankshaft for months, the city plans on using the interim to continue wooing the company. Because of "new financial considerations," ThyssenKrupp's executive board will hold off on selecting a host city for its consolidated facility, according to a Wednesday afternoon press release from the company... http://www.reviewtimes.com/News/backissues/2006/Dec/ar_news_122106.asp#story3
February 1, 200718 yr From the 1/4/07 Findlay Courier: ThyssenKrupp announces layoffs at two facilities FOSTORIA -- ThyssenKrupp Crankshaft, which laid off 45 employees at its Fostoria plant last month, has followed that up this week with the elimination of more than 60 jobs at its Danville, Ill. machining operation. However, these latest layoffs are not related to the company's consolidation plan, expected to be announced next spring, which will close one of the plants... http://www.thecourier.com/Issues/2007/Jan/ar_news_010407.asp#story5
February 6, 200718 yr From the 1/11/07 Sandusky Register: Cedar Fair reports attendance down in northern parks By BRANDI BARHITE | Thursday January 11 2007, 7:52am SANDUSKY Attendance at Cedar Fair's northern parks, which includes flagship Cedar Point, was down 2 percent in 2006. The partnership -- which owns and operates 12 amusement parks, five outdoor waterparks and one indoor waterpark -- still believes lowering admission prices was a good strategy, said Stacy Frole, director of investor relations. But higher gas prices combined with a bad regional economy affected attendance at the northern locations, she said... http://www.sanduskyregister.com/articles/2007/01/11/business/131187.txt
February 7, 200718 yr Cedar Fair is up to their eye balls in debt. This is a really bad time for them to have went into this much debt, since the US economy is going into a recession in 2007. Before 2010 I think Cedar Fair will be looking to unload two or three of the parks to stabilize the company financially. Who says that we are going to have a recession in 2007? Latest government figures show we aren't nearing anything close to even a slow-down let alone a recession.
February 7, 200718 yr Cedar Fair is up to their eye balls in debt. This is a really bad time for them to have went into this much debt, since the US economy is going into a recession in 2007. Before 2010 I think Cedar Fair will be looking to unload two or three of the parks to stabilize the company financially. Who says that we are going to have a recession in 2007? Latest government figures show we aren't nearing anything close to even a slow-down let alone a recession. Are you talking about those same government figures that said we should not see a huge increase in foreclosures in 2006 and that the construction and residential industries should see a soft landing in 2006. Foreclosure levels in the US are skyrocketing by the day, all the big builders now are posting major loses (financial and in jobs) and the inventory of vacant unsold homes are now at record levels. Yes, we are going into a recession in 2007. If you don't believe me that fine, but I would be happy to have this conversation again in the fall to see if you still don't believe we are IN a recession by then.
February 7, 200718 yr Yeah...and not to mention, with the talks swirling about NE Ohio seceding from the state...thats gotta cause some economic instability for everyone, with all the uncertainty :wink:
February 8, 200718 yr Cedar Fair is up to their eye balls in debt. This is a really bad time for them to have went into this much debt, since the US economy is going into a recession in 2007. Before 2010 I think Cedar Fair will be looking to unload two or three of the parks to stabilize the company financially. Who says that we are going to have a recession in 2007? Latest government figures show we aren't nearing anything close to even a slow-down let alone a recession. Are you talking about those same government figures that said we should not see a huge increase in foreclosures in 2006 and that the construction and residential industries should see a soft landing in 2006. Foreclosure levels in the US are skyrocketing by the day, all the big builders now are posting major loses (financial and in jobs) and the inventory of vacant unsold homes are now at record levels. Yes, we are going into a recession in 2007. If you don't believe me that fine, but I would be happy to have this conversation again in the fall to see if you still don't believe we are IN a recession by then. Well if Winwar can't talk about rollercoasters cause he hasn't ridden as many as others...what the hell makes you the expert on the national economy vs. the likes of the chairman of the Fed who ain't calling for one? If the GDP is growing in the 3rd quarter of this year...I don't wanna hear that it's a "recession" 'cause of this reason or that either. I hate that stuff. If I'm wrong and GDP shrinks, I'll admit you are right. I have a pretty good feeling you'll be wrong though. :)
February 8, 200718 yr Yeah...and not to mention, with the talks swirling about NE Ohio seceding from the state...thats gotta cause some economic instability for everyone, with all the uncertainty :wink: Don't even joke about that, it will be like Black Tuesday, D-Day, The Day After and The Day After Tomorrow all rolled up into one. And that's just for the folks living in Y-Town. ;)
February 8, 200718 yr ^^I don't know...even though they are claiming this year will be fine; I am also hesitant to believe it. This administration has been claiming that the economy is doing well. When you could ask most people and they would disagree. Much of the growth the economy has seen has come in the construction market with the big development booms. And since we are beginning to see the housing market tank, logic would say that the economy is either going to struggle....or have to pick it up in another sector. I would hope that most people don't fall head over heels over a statement out of the feds. Through history the feds have been known for making stuff seem fuzzier than what they really are (errr propaganda anyone). Its in the feds best interest (especially political interests for republicans) to make the economy appear to be rosier than what it really is. The economy may very well be fine this year...but I won't hold my breath either. I have a believe it when I see it attitude when it comes to this kind of stuff now.
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