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MSNBC.com: Six-Flags files for Bankruptcy Protection


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I imagine this will give Six Flags the opportunity to engage in some minor shake-ups at the end of the summer, possibly selling off a couple of their poorest performing parks as long as the "patient" is in surgery anyway.

But Six Flags' only major problem is their debt. They are doing a somewhat better job of operating parks than they used to, and that's turning out to be good enough. (Charging $15 to park doesn't hurt the bottom line either.)

Get rid of the debt, continue operating their parks like responsible adults, and they're probably back to breakeven or better -- even despite the recession.

This bankruptcy is a problem 12 years in the making. Most reasonable people called the Premier Parks/Six Flags buying spree an idiotic decision back then, and it certainly looks that way now. But I can't imagine anything will happen to their better parks. They still pack 'em in by the tens of thousands per park almost every day.

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