Six Flags Bankrupt Surprise Surprise

Six Flags, Inc (OTC:SIXF) announced bankruptcy to avoid a huge debt repayment in Aug. The new management team did inherit a ridiculous balance sheet which was saturated with debt and are now doing the only thing possible. The timing is savvy and if investors are surprised then shame on you. This one has been marinating for a long time. Summer is here people are starting to spend money at the amusement parks but this year the spend will be down because the economy stinks.

The question becomes do you believe in amusement parks as an investable business model or should it be taken private by savvy investors who know how to maximize value and do not freak out if the gate is low on any particular day.