Update on New Orleans and Six Flags

[Pizza]

Here's an update for everyone. Last week Six Flags was given an ultimatum. Here's that news story: http://www.nola.com/newsflash/index.ssf?/base/national-13/1241724720140540.xml&storylist=hurricane

Fast forward to today. Six Flags tells New Orleans they were not in default of their lease, not true. They were removing rides and didn't reopen the park, Im sure you've probably already heard this junk. Anyway here's the current news. New Orleans won an injunction in the civil district court against SF. Here's an interview with the city attorney: http://www.wwl.com/New-Orleans-taking-Six-Flags-to-court/4382327

The city also got a temporary restraining order on Six Flags preventing any further removal of rides, exhibits, etc and hearing will be held on May 26th. Here's that news story: http://www.nola.com/business/index.ssf/2009/05/city_granted_temporary_restrai.html

Now that I've updated you on that, I'll continue to update you if anything new comes up.

[Mike Robinson]

I think Six Flags has taken everything it wants out of the park, the Batman: The Ride and didn't the S&S towers go also?

Fact is Six Flags certainly can't afford to reopen the park, the couldn't even afford the park when they purchased the lease.

I don't think anything the courts say will make much of a difference. Six Flags is going to go into Chapter 11 and NOLA is going to get pennies on the dollar for what they could have gotten by taking the original offer.

I really think the park is gone. Six Flags, under Burkes "Leadership" costs us both Parks.

Makes we want to say:

Dear Six Flags,

Remember us?

Sincerely,

The Gulf Coast.

[wiyoh20]

The Mayor is just simply wasting taxpayer dollars. That park will NOT re-open! Being that the park was pretty much totaled, you would be basically be building a new park. No one wants to have thier fingers in that park, except Danny Rogers. I know I am preaching to the choir on this one, but I would see where maybe a tenative 5 or 10 year lease would have been more whats the word? Practical! Than a 75 year lease, that was !@#$%^&* insane! I don't know what on this earth was going on in Burke's mind during his reign of Six Flags, making good, sound, business decisions was NOT one of his strong points.
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[Mike Robinson]

[wiyoh20]

Well, the City really has nothing left to stand on, they screwed themselves by not taking a decent offer a couple years ago. Chapter 11 actually will be the best route to get that park out of the Six Flags portfolio and off of the map once and for all.
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[Pizza]

The city isn't planning on reopening the park. They just want to get Six Flags out of the way so that they can develop something on the property, it isn't doing anything by sitting there. Three possible developments would be a sports complex (IMO, stupid idea), Danny Roger's idea, and a waterpark (IMO, the best idea). The waterpark would not be the one Danny Rogers is wanting to build along with the themepark, it's something totally different, just a waterpark. I think economically it would do the best, it would be cheaper to build than refubishing the themepark, and it is probably in the best interest of the residents of N.O. and surrounding areas since it's so hot and humid. We have Blue Bayou but it is a little farther away than the SFNO property. So whenever the city gains control of the land, IMO, should build a waterpark.

[Mike Robinson]

I think a Waterpark would be great and would work.

[ThatTh*ngGirl]

[ThatTh*ngGirl]

You can't fix stupid..

Although the reader comments (only 2 at this time) are hil-larious.

http://www.nola.com/business/index.ssf/2009/05/city_granted_temporary_restrai.html

City granted temporary restraining order against Six Flags
by The Times-Picayune
Tuesday May 12, 2009, 1:28 PM
The city of New Orleans received a temporary restraining order against theme park operator Six Flags today, one day after a deadline set by the city for the company to resolve a dispute regarding its defunct amusement park expired.

The temporary restraining order prohibits Six Flags from "removing any exhibits, rides or other assets at the site," City Attorney Pena Moses-Fields said.

Negotiations between City Hall and the theme park operator broke down last month after the embattled company restated that it would not reopen its eastern New Orleans theme park or pay the city to back out of its lease.

A hearing will be held on the matter May 26 at civil district court in New Orleans.

I'm under the impression Six Flags doesn't own any of this stuff anyway, and what actually DOES belong has long since been removed..

[wiyoh20]

Bottom line the city is still on the hook for thier bad investment. It is NOT Six Flag's fault the park was built in the swamp near the 9th ward. Granted that Katrina did not devistate the park then we would have a park still up and running. Or if Six Flags had the money to rebuild the park they may have. You cannot expect someone that is 2+ BILLION in the hole to be able to handle the task that is at hand.

You most certainly cannot fix stupid I agree. You cannot expect the same offer you were given two years ago to still stand, just a little too late now.

Sad thing is that is just a perfect example of our fine leadership in the City.
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[ThatTh*ngGirl]

The transaction itself was poor all around. Six Flags may not have built the park, but they sure did figure it was worth a good financial rescue.

Did you know about Ray Nagin coming thisclose to foreclosure on his little condo located in my area, which is where he stayed in Katrina's aftermath? So close to foreclosure it made the news, though some last-second deal was made. Fine example of someone who is leading NOLA to this.