Should Six Flags help restore New Orleans Park?And I was wondering of anyone else feels that they should be made to restore it back to what it was before the lease with the city?
From David SutterThe Screamscape website has some interresting pics of Six Flags New Orleans taken recently from inside the park. And I was wondering of anyone else feels that they should be made to restore it back to what it was before the lease with the city? At least help the city with restoration.
Posted March 19, 2010 at 9:14 AM
Comments in chronological order. Most recent at the bottom. Scroll down to respond.
From Michael SmithIt is my understanding that a settlement was reached and that Six Flags payed a fine and gave the city 50 or so additional acres that Six Flags owned, in exchange for being released from their 75 year contract. If both parties agreed to this, then SF has no obligation.
Posted March 19, 2010 at 10:22 AM
From Eugene KohNope. They are not doing it. Southern Stars for Nickelodeon is.
Posted March 19, 2010 at 1:50 PM
From Michael SmithI researched this a little more and it appears that the settlement was made by a bankruptcy court. According to this nola.com article:
Posted March 19, 2010 at 6:36 PM
"The Delaware court presiding over the bankruptcy of Six Flags Inc. agreed in December to allow the theme park operator to terminate its lease ...
The termination agreement called for Six Flags to make a $3 million cash payment to the city. The company also must give New Orleans 25 percent of its net Katrina-related insurance proceeds for the site if the settlement exceeds $65 million" nola.com
In a fair world, Six Flags should probably be held more responsible. They signed a 75 year deal to operate a park in a poor area of a poor city. They should have to honor that agreement. But, that's business. You sign a deal with someone, you better be sure that they can hold up their end of it.
From Michael SmithIt was reported in the article quoted in my comment above, and also on this site, that the Southern Star deal fell through. They missed some deadlines and Nickelodeon pulled out. I haven't found any indication that the Southern Star deal has a chance of happening.
Posted March 19, 2010 at 7:04 PM
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