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Grieving, Belated II
Posted by: Dale Franks on Monday, August 04, 2008

I don't want to dwell on the Astroworld lament from my previous post, but, in digging around a bit online, I found what is probably the last satellite image of the park before it closed and was shut down.

The last picture of Astroworld

Compare and contrast, with the current view.

Astroworld is just an empty field now

Sadly, Six Flags, even though they ousted the incompetent Kieran Burke as CEO, is still in desperate trouble. they haven't made a profit in years, as the debt service on their two billion dollars in debt far exceeds their operating profit. They are paying $200 million a year in interest payments, with an operating profit of 33.3 million.

At $1.03 a share, SIX is almost a penny stock. And it's got a moderate sell recommendation from almost everybody. If mark Shapiro can turn SIX around, then he's a genius. Or a magician.
 
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At first glance I thought the sat picture was a cross section of some sort of machine engine.
 
Written By: Harun
URL: http://
I’m with you on the demise of Astroworld. I moved back to the Houston area last year after a seven-year absence. Driving on the South Loop just isn’t the same. Used to you would drive by and see the park across from the Dome. Now it’s just a wasteland. You would expect something will be built on the spot eventually, especially with the Reliant Stadium (spit) across the road, but I haven’t heard anything so far.
 
Written By: Ryan
URL: http://
Interesting parallel, here.
I mentioned, in the othter post that our Midtown PLaza has closed and will be torn down shortly. THe idea was that PATEC communications was about to build it’s new world HQ where midtown used to be.

Only one problem, now, is that PATEC has essentially turned itself into a penny stock recently and doubts have begun to surface, if after tearing down Midtown, PAETEC will ever build there.

I should tell you that if this falls apart as it appears it now will, this is one of a long line of similar failures by the city. Touristy areas that fall apart in a few years when major players leave due to high rents imposed to pay for the city’s grandiose ideas... and a ferry service between Rochester and Toronto, whose deal fell apart even before the advertised trial period was up... again, too pricey.


As for SIX, I find that interesting as well. UNtil just recently they woned nearby Darien Lake... and while in ownership, put millions into the place. I wondered why it was no longer Six flags, now I know. Funny thing; From the top of their biggest coaster, you can see about 25-30 miles to the west, another Amusment park, Fantasy Island, which has been on Grnad Island for most of 100 years now. Both parks are going strong, apparently.
 
Written By: Bithead
URL: http://bitsblog.florack.us

 
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