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Dan Snyder‘s juxtanothing theme park chain, Six Flags, is back in the news. For all the wrong reasons.
Snyder’s sub-Mensa-esque brainchild, the network of stand-alone kiddie hair salons known as Six Flags Rollercoaster Cuts, opened its first outlet in West Hartford, Ct., and started hawking costly coif makeovers with dumbass names — The Glammy, Zoink, Big Kapow and Blama Jama — to breeders of young New England bluebloods.
Yet the liberal media was only tweeting about the parent company’s economic woes.
Seems Vegas is torn over what will come first: Snyder’s company going bankrupt or 64 1/2 seed Morehead State getting bounced from the NCAA Tournament. (Gimme Morehead in that pool!)
In a conference call with Six Flags investors this morning, Snyder’s cohort Mark Shapiro pinned Six Flags’ sorry chances for staying afloat on a failure to communicate with his major creditors.
I’m no Ben Bernanke, but I’d say the hole Six Flags finds itself in is probably related to both whatever communication breakdown Shapiro is whining about, plus the fact that his company is MORE THAN $2 BILLION IN DEBT!
Yet before we credit all of Six Flags’ problems to Snyder’s ineptness, let’s gander at Mark Shapiro’s portfolio.
Shapiro’s run with Snyder at Six Flags, during which the company’s stock has gone from $11.93 a share down to 14 cents a share this morning, has been documented here.
But there’s a lot more failure where that came from.
On May 9, 2008, Shapiro was elected to the board of directors of the Tribune Company. On Dec. 9, that corporation filed for Chapter 11 bankruptcy.
On Nov. 12, 2008, Live Nation named Shapiro to its board of directors.
Stock in the company traded at $7.84 on the day Shapiro was brought on board.
Today, Live Nation stock (LYV) was going for $2.64.
Shapiro is also a member of the United States Travel and Tourism Advisory Board.
The U.N. World Tourism Organization forecast a few weeks ago that a massive “tourism slump” was about to hit the U.S.
So maybe it’s not Snyder? Maybe it’s really The Curse of Mark Shapiro that’s put Six Flags on the brink of nothingness?
Maybe we owe the Redskins owner an apology for all this Six Flagging muckraking?
Keep the dial right here for all the breaking news in Snyder’s Six Flags soap opera.