Six Flags AstroWorld Closing Down

[n0jaa]

A Houston landmark is closing its doors at the end of October. It seems that the property AstroWorld sits on is more valuable than the park itself.

Keep this up, and in 30 years, no one will have any place to go for entertainment. Maybe the world WILL resemble H. G. Wells' future in his book, "The Time Machine."

Read the full story here: AstroWorld Closing Its Doors (http://abclocal.go.com/ktrk/story?section=local&id=3436934)


Paul, N0JAA.

[KG4CGC]

Quote[/b] (n0jaa @ Sep. 14 2005,18:47)]A Houston landmark is closing its doors at the end of October. #It seems that the property AstroWorld sits on is more valuable than the park itself.

Keep this up, and in 30 years, no one will have any place to go for entertainment. #Maybe the world WILL resemble H. G. Wells' future in his book, "The Time Machine."

Read the full story here: #AstroWorld Closing Its Doors (http://abclocal.go.com/ktrk/story?section=local&id=3436934)


Paul, N0JAA.
Nor will the working class have a place to live that they can call their own because someone will say it's not being used to its potential.

[ac4ut]

The problem with Six Flags is that every time it has been sold it has failed to retire any debt and the accumulated debt service has become enormous.
Add that to declining attendance and skyrocketing insurance premiums due to risk exposure from liberal minded juries and you have the formula for disaster in the amusement industry.

[KG4CGC]

Quote[/b] (ac4ut @ Sep. 14 2005,19:06)]The problem with Six Flags is that every time it has been sold it has failed to retire any debt and the accumulated debt service has become enormous.
Add that to declining attendance and skyrocketing insurance premiums due to risk exposure from liberal minded juries and you have the formula for disaster in the amusement industry.
OK, everyone should wear helmets, elbo and knee pads, full combat knee boots and body armour and bullet proof goggles. Soccer Mommy Approved! Then and only then, may you enter the park.

[K0RGR]

Amusement parks have been taking it on the chin in recent years. I was shocked to find out they closed Opreyland a few years ago.

It's not just amusement parks.

I would like to see just how many big jury awards there really have been for amusement park accidents, and how much insurance rates have skyrocketed because of them. I would wager that there have actually only been a handful of awards, but the insurance companies have used them to justify outrageous rate hikes.

It's similar to medical malpractice suits. All the awards for all of the medical malpractice lawsuits in Minnesota last year did not come close to equalling the salary of the CEO of just one of our HMO's. Forget all the V.P.'s and executives in the huge firm.

Yes, sue-happy people and 'liberal' juries probably don't help, but I don't think that's all there is to it. Until somebody says "NO", this vicious circle will continue.

[KA8NCR]

Quote[/b] (ac4ut @ Sep. 14 2005,16:06)]The problem with Six Flags is that every time it has been sold it has failed to retire any debt and the accumulated debt service has become enormous.
Add that to declining attendance and skyrocketing insurance premiums due to risk exposure from liberal minded juries and you have the formula for disaster in the amusement industry.
I didn't know that personal injury attornies were left-leaning except when making sharp turns to keep behind the ambulance.

[KA8NCR]

Quote[/b] (K0RGR @ Sep. 14 2005,16:49)]Amusement parks have been taking it on the chin in recent years. I was shocked to find out they closed Opreyland a few years ago.

It's not just amusement parks.

I would like to see just how many big jury awards there really have been for amusement park accidents, and how much insurance rates have skyrocketed because of them. I would wager that there have actually only been a handful of awards, but the insurance companies have used them to justify outrageous rate hikes.

It's similar to medical malpractice suits. All the awards for all of the medical malpractice lawsuits in Minnesota last year did not come close to equalling the salary of the CEO of just one of our HMO's. Forget all the V.P.'s and executives in the huge firm.

Yes, sue-happy people and 'liberal' juries probably don't help, but I don't think that's all there is to it. Until somebody says "NO", this vicious circle will continue.
This year hasn't been kind to the amusment industry. Attendance has declined across the board, just after most of the parks made substantial capital investments.

Cedar Fair and Disney seem to be the only ones that eek out continued revenue growth, but I just took a look at Cedar Fair's financials on Edgar and it ain't pretty.

[n0jaa]

Quote[/b] (ac4ut @ Sep. 14 2005,19:06)]The problem with Six Flags is that every time it has been sold it has failed to retire any debt and the accumulated debt service has become enormous.
Add that to declining attendance and skyrocketing insurance premiums due to risk exposure from liberal minded juries and you have the formula for disaster in the amusement industry.
That's probably why they still have over $2 billion in debt. Plus the fact that people will sue for every little thing anymore.

[ac4ut]

Quote[/b] (K0RGR @ Sep. 14 2005,16:49)]Amusement parks have been taking it on the chin in recent years. I was shocked to find out they closed Opreyland a few years ago. #

It's not just amusement parks.

I would like to see just how many big jury awards there really have been for amusement park accidents, and how much insurance rates have skyrocketed because of them. #I would wager that there have actually only been a handful of awards, but the insurance companies have used them to justify outrageous rate hikes.

It's similar to medical malpractice suits. #All the awards for all of the medical malpractice lawsuits in Minnesota last year did not come close to equalling the salary of the CEO of just one of our HMO's. #Forget all the V.P.'s and executives in the huge firm.

Yes, sue-happy people and 'liberal' juries probably don't help, #but I don't think that's all there is to it. #Until somebody says "NO", this vicious circle will continue.
I am in the industry and help defend the claims. There haven't been so many more claims but the awards are bigger now,some ludicrous, and insurance are not so forgiving as when they raked in big returns on investments in the stock market.

[KI6ADA]

The sad thing about it is people are not getting out to spend time with their families. Yes it cost money to operate Amusement parks. What is the next American Family vacation? Jury Duty? "Wait in line with Daddy while momma meets the judge in his chamber". http://www.qrz.com/iB_html/non-cgi/emoticons/mad.gif

[kf6rdn]

Quote[/b] (KG4CGC @ Sep. 14 2005,16:09)]OK, everyone should wear helmets, elbo and knee pads, full combat knee boots and body armour and bullet proof goggles. Soccer Mommy Approved! Then and only then, may you enter the park.
It's funny you say "soccer mommy..." there was a big hubbub in the soccer community to have kids wear "protective gear" from heading soccer balls, they thought there was some issue about brain damage.

It may still be going on for all I know, but last I saw the soccer purists were winning. The issue is more running into each other, more then hitting the ball itself.

But for anyone that plays, wearing something like this would be akin to a long distance runner, running in levis or somesuch.. yeah it could be done, but....

[W5MJL]

Personally, I am glad to see astroworld close. It has not been kept up to snuff by six flags, and it is a dangerous place from a gang standpoint. It's no longer a place to take your kids unless you want them to become the leader of the hood.

[KD4LEI]

I am shocked to hear of it closing. I used to go there with my parents and never got the chance to get on The Texas Cyclone. I was too young and small to get on that ride. I remember XLR8 and some of the other fun rides. It's a shame this is happening, sad to see it close. http://www.qrz.com/iB_html/non-cgi/emoticons/sad.gif

[k4kyv]

Opryland closed several years ago allegedly because of a couple of seasons of declining attendance. They turned it into a mall. It's now "Shopryland."

This was a big blow to the hotels and restaurants in Nashville.

As a consolation, try the Yazoo brewery on Friday and Saturday nights for some excellent handcrafted beer served with crusty bread and exotic cheeses.

[n2nh]

What ever happened to <span style='color:darkorange'>DOLLYWOOD</span>?

Here we've lost Freedomland, Dreamland, Luna Park, Palisades Park, Steeplechase Park and will eventually lose 6 Flags over Great Adventure. That old guy can only dance so long.

http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
http://www.sixflags.com/parks/images/cleardot.gif

[KD6NIG]

I know we have lost a few waterparks here in California-a huge one in Manteca closed recently, because the insurance to cover the place was no longer affordable due to claims at other waterparks.

I know the land value is part of it, but I wouldn't be shocked if the insurance on these places is killing them also. And, the more that close, the less that are in the paying pool for that type of insurance-probably will climb even more.

[n0jaa]

Quote[/b] (n2nh @ Sep. 16 2005,15:21)]What ever happened to <span style='color:darkorange'>DOLLYWOOD</span>?

Here we've lost Freedomland, Dreamland, Luna Park, Palisades Park, Steeplechase Park and will eventually lose 6 Flags over Great Adventure. #That old guy can only dance so long.

http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
http://www.sixflags.com/parks/images/cleardot.gif
You could always go to Neverland. I'm sure MJ would welcome anyone with open arms!

http://www.qrz.com/iB_html/non-cgi/emoticons/wow.gif

Paul, N0JAA.

[W0LPQ]

2NH: We just returned from 3 days in Gatlinburg....Dollywood is still there ... bouncing along.

73

Bill, W0LPQ