ABR
Posts: 277
Registered: 3/22/2003
Rank: Silver Critic
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 7/26/2007 9:12:50 PM
I just wanted to comment on Wild West World's closure. I'm sure most of us have seen the widely published letter from the CEO about the closure.
Even though I had never been (and was never planning to) I think this is a real shame. A man had a dream, he tried to fulfill it, but the powers that be worked against him.
It just makes me think... I have heard of this Walt guy who had a dream way back when and tried to fulfill it in California, and also Florida. He was believed to be a wild man, but followed his dream, and saw it be a major success. A Texas gas man also had a dream, after visiting Walt's, and saw his "flags" turn into dollars.
I feel this guy could have been the next Walt Disney (not on Disney's cale of course), but seeing his dream come true and delighting people of all ages. If only he had opened the park a year later...
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
Rank: Platinum Critic
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7/27/2007 7:15:16 AM
This looked like quite a unique and interesting park and it's a shame mother nature had to work against the park. Hopefully someone will purchase this park soon.
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mrceagle
Posts: 13804
Registered: 6/9/2001
Rank: TPC News Minister
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7/27/2007 11:56:29 AM
it dose look like a nice park. and I'm sure if the weather hadn't have been so bad they may still be open. It was a great dream and a great looking park. I hope some one steps up to the plate and buys this park. I think ProParks, palace, or Hershand would profit greatly from this park. maybe even Kennywood.
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
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7/27/2007 6:41:05 PM
I think Kennywood wants to only have parks in the Northeast and not expand way towards the west. Does Palace Entertainment even buy amusement parks? I think that PARC might be a nice fit.
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mrceagle
Posts: 13804
Registered: 6/9/2001
Rank: TPC News Minister
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7/27/2007 8:18:11 PM
Yes and NO. They own Castle park in Arizona and Boomers in Fl which is more park then FEC. So a smaller park wouldn't be out of the question.
I don't see keenywood buying it either but I think it woudl be a good fit for them. which is why I mentioned them.
I don't see PARC adding any parks to there ownership
Proparks is possible they seem to have Alabama adventure squared away for the most part and there was talks of them wanting to expand.
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
Rank: Platinum Critic
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7/27/2007 9:53:24 PM
Proparks has saved a park before so maybe they can do it again. From what I heard they did a good job with Alabama Adventure, so hopefully they will get a chance to work their magic on this unfortunate park.
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mrceagle
Posts: 13804
Registered: 6/9/2001
Rank: TPC News Minister
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7/27/2007 11:48:32 PM
Hersheld is the only other Company dollywood wants anotehr park maybe this is an easy option but it woudl need to have allot of expansion room.
But I think Ppr parks could do the most with it and keep the original idea alive.
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
Rank: Platinum Critic
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7/28/2007 6:29:18 AM
When do you think Wild West World will be purchased, by anyone?
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ABR
Posts: 277
Registered: 3/22/2003
Rank: Silver Critic
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7/28/2007 10:55:34 PM
If premier parks was still in business (as "premier parks", before the Six Flags buyout) I think this park would be right up it's alley. You never know who might step out of the dark and purchase this park. Obviously, it would have to be someone with deep pockets. I'm not sure about companies like "PARC", they already have their hands full with some recent aquisitions, you need to make sure you are stable before adding more atop.
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Canobie Coaster
Posts: 2694
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7/29/2007 6:51:38 AM
^ True. But whoever buys the park probably should try to invest in an indoor section of the park just incase the weather is bad again. Then if it's nice outside there is an indoor and outdoor section of the park.
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mrceagle
Posts: 13804
Registered: 6/9/2001
Rank: TPC News Minister
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7/29/2007 2:45:26 PM
I don't see that hapening. and the chances of the weather being this bad again in the next few years is very slim.
Deep pockets no. The park is only indebted for 24 million. So a park that could afford around 35-40 million would be fine. That woudl give them enough money to Pay off the debt and in turn take over the park. and operate for the first few years. They would also keep money in place for a slight expansion over the next few years.
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
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7/29/2007 4:18:49 PM
I remember reading that originally Wild West World was to add a major coaster in 2009. I wonder if whoever buys the park will deliver on that old promise before the park hit bankruptcy.
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mrceagle
Posts: 13804
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7/29/2007 7:46:55 PM
If the Company is still wiling the complete the sale I would imagine so. You want to build up the attraction. also do allot of Surveys, ask for zip codes of were ticket buyers are from, and better advertising.
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Canobie Coaster
Posts: 2694
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7/30/2007 8:33:07 AM
http://sanantonio.bizjournals.com/wichita/stories/2007/07/23/daily28.html
More bad news for the park. The Blue Valley Bank is hitting the park while it's down. They have asked a federal bankruptcy judge to seize some of Wild West World's rides. Meanwhile, the park's attorney is saying that they need to keep the park as a whole to make a sale. I hope that Wild West World remains together in one piece.
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mrceagle
Posts: 13804
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7/30/2007 3:01:43 PM
Ya I just saw that. they want the Flume, Ferris wheel and the action arm. The ferris wheel alone is worth the owed money so asking for 3 rides is simply robbery.
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Canobie Coaster
Posts: 2694
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7/31/2007 12:07:05 PM
Their ferris wheel wasn't anything special as I could see and like you said, it's just unfair that they can take the log flume and the action arm (one of their few thrill rides).
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coaster05
Posts: 6207
Registered: 2/29/2004
Rank: Platinum Critic
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7/31/2007 3:33:21 PM
They owe money how is seizing their assets unfair. Also how can you open a park and not have enough money to weather (pun) one rainy season. Bad weather happens all the time, especially in Kansas. This guy didn't have enough left over to ride it out another month. Gimme a break. Dude is an idiot and he overextended himself. I see no one buying this park because it is in F#$%ing Kansas. It also failed miserabley, didn't the other park in Kansas go under this year also?
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mrceagle
Posts: 13804
Registered: 6/9/2001
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7/31/2007 3:34:43 PM
It doesn't mater is the ferris wheel was Special or not the main point is that ride was purchased new and it didn't have much time to depreciate. not enough to make the Flume and action arm worth having. There trying to take advantage of the situation and I hope the judge doesn't fall for it.
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coaster05
Posts: 6207
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7/31/2007 3:46:31 PM
They are not trying to take advantage of anything. So if I buy a car drive it two montsh and resell it you think it hasn't had massive depreciation. Plus the company will incur cost of taking the ride down and transporting it also. How should they recoup that expense since the owner has no money.
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mrceagle
Posts: 13804
Registered: 6/9/2001
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7/31/2007 3:56:33 PM
The Ferris wheel is a million on it's own. The action arm bought new is 600,000 dollars. the Flume was used and bought for 300,000 dollars. all these rides were Bought Through Rides-4-U. But thats adds up to nearly 2 million. So your saying the depreciation and removal costs will be around 1.1 million? That sounds extremely High. those rides should last what 15 years. Do the depreciation yourself it comes no were near that. basically they are saying it will cost them 1,000,000 for the removal coasts.
Or they can wait Since a years depreciation will not be that much. and they will get there money from a sale. There are allot of small chains out there that look for properties like this. if it doesn't get sold in a year then give then The Ferris wheel and the flume.
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coaster05
Posts: 6207
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7/31/2007 4:17:32 PM
Your car depreciates 30% when you drive it off the lot. No matter what you say the ride is now used and will be sold accordingly. Also seeing as the owner went bankrupt he is in no real position to bargain. Again business 101, give it a try.
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mrceagle
Posts: 13804
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8/1/2007 2:56:41 AM
Put business aside and take accounting. Purchase - Market value/Expected life time. That will give you your depreciation for each year. now divide that by 12 to get the per month depreciation.
wisdom is offering a 1 year old coaster for $240,000 The ride is $300,000 new. i know because it's the one removed from Six Gun City.
Yes it's up to the Bankruptcy Judge who I can only hope he has enough common sense to look at the resale value of these rides and say no.
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Miracles can be made with a rock!
"Get a good idea and stay with it. dog it and work at it until it's done, and don right." Walt Disney
Message updated 8/1/2007 3:00:51 AM by mrceagle
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coaster05
Posts: 6207
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8/1/2007 8:16:50 AM
No iteme depreciates equally each month, the largest drop comes when the item goes from new to used. Offering is not the same as sold.
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mrceagle
Posts: 13804
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8/1/2007 4:07:18 PM
Tue But those rides could easily sell for more then 900,000
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coaster05
Posts: 6207
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8/1/2007 6:08:56 PM
Go to Coasterbuzz the rides in question are actually leased.
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Canobie Coaster
Posts: 2694
Registered: 7/26/2005
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8/1/2007 9:35:37 PM
That explains why those were the 3 mentioned.
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mrceagle
Posts: 13804
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8/2/2007 12:08:30 AM
Quote:
coaster05 said:
Go to Coasterbuzz the rides in question are actually leased. |
That changes everything. taking what is theirs is a very deferent situation.
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Canobie Coaster
Posts: 2694
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8/2/2007 7:00:13 AM
This is fairer because the ride's were leased. Still, sad to these those 3 rides go.
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coaster05
Posts: 6207
Registered: 2/29/2004
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8/2/2007 9:19:39 AM
^Why is it sad the park is closed and has no money, is it better for the rides to just sit there and rot?
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mrceagle
Posts: 13804
Registered: 6/9/2001
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8/3/2007 12:27:14 AM
That's being extremely dramatic don't you think. If there is a company truely interested in the park they will have it before the end of the year.
The Leasers beast chance of selling will likely be a deal at IAAPA Through Rides-4--U
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