Anyone own Cedar Fair
My understanding of the situation is that a number of years ago (I'm thinking late 70s, early 80s) Cedar Point Inc re-organized as a limited partnership, and took the name Cedar Fair LP using parts of the names of the two parks the company owned at the time.
A long, long time ago, all the land was owned by the resort company; restaurants, rides, and attraction owners leased the land from the resort. Over the years, the resort company acquired the various buildings and businesses, and took the name Cedar Point Inc. at some point.
I'm not at home or I'd research my CP books for more exact info.
Cedar Fair is owned by shareholders.
A long, long time ago, all the land was owned by the resort company; restaurants, rides, and attraction owners leased the land from the resort. Over the years, the resort company acquired the various buildings and businesses, and took the name Cedar Point Inc. at some point.
I'm not at home or I'd research my CP books for more exact info.
Cedar Fair is owned by shareholders.
Cedar Fair is a LIMITED PARTNERSHIP which owns and operates the parks we all know and love...
CF was formed in around 1983 and was formed with the foresight to hold off any sort of "takeover" by a Corporate Giant...Mariott was big into amusement parks back then. In the 70's and early 80's CP was a publicly traded stock.
In another thread we can discuss the merits of a Limited Partnership and the differences between a limited Partnership and a Publicly traded company.
Cedar Point has had leasees in the Food and Games areas of the park but as for the rides...that had to be many moons ago. I believe that most of the leasees are now "out" of CP and Cedar Fair controls over 95% of what we see today.
Technically CP is "owned" by UNIT Holders of Cedar Fair. *** This post was edited by Old Timer Tim on 1/12/2001. ***
CF was formed in around 1983 and was formed with the foresight to hold off any sort of "takeover" by a Corporate Giant...Mariott was big into amusement parks back then. In the 70's and early 80's CP was a publicly traded stock.
In another thread we can discuss the merits of a Limited Partnership and the differences between a limited Partnership and a Publicly traded company.
Cedar Point has had leasees in the Food and Games areas of the park but as for the rides...that had to be many moons ago. I believe that most of the leasees are now "out" of CP and Cedar Fair controls over 95% of what we see today.
Technically CP is "owned" by UNIT Holders of Cedar Fair. *** This post was edited by Old Timer Tim on 1/12/2001. ***
Tim said it best...listen to the man!! CPQOAWP has a good description saying basically what tim just said!!!
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http://www.msu.edu/~armbrus9/cp.html
Jeffrey Spartan
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http://www.msu.edu/~armbrus9/cp.html
Jeffrey Spartan
Do the "Unit" holders get any special benefits, such as attending conventions and giving them input on what they think Cedar Fair should do next? I am a share holder in some company's and they have conventions and send ballots for us to vote on what the company should do next.
*** This post was edited by Joe E. on 1/12/2001. ***
*** This post was edited by Joe E. on 1/12/2001. ***
Unit holders don’t get the same say in L. L. P. affairs that share holders get in a regular corporation. Occasionally, there is a proxy to vote on a special issue, offered when the trustees feel it’s appropriate. This was the case last summer, when the C. F. unit holders were asked to approve a restructuring of the retirement and compensation packages for the top management, among other things. If one wanted to, they could have traveled to Knott’s in CA to vote in person and attend the unit holders meeting. However, under normal circumstances, the unit holders of C. F. get no say as to how things are run.
I suspect that a major unit holder (some one owning more than a million units) might get to go to lunch with some of the directors, or something like that, and get some more attention than the rest of us. This is simply a guess on my part, based on how the world works and not knowledge of C. F. L. L. P. In the seventies, major owners of Cedar Point got a permanent metal pass to the park and complementary funday tickets. When I was a boy, our neighbor was in that position, and I was treated to Cedar Point on a number of occasions as a result. I understand that there are a few of the gold metal passes still around, and they are still being honored at C. P.
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- Raptor Dave *** This post was edited by CPDave on 1/14/2001. ***
I suspect that a major unit holder (some one owning more than a million units) might get to go to lunch with some of the directors, or something like that, and get some more attention than the rest of us. This is simply a guess on my part, based on how the world works and not knowledge of C. F. L. L. P. In the seventies, major owners of Cedar Point got a permanent metal pass to the park and complementary funday tickets. When I was a boy, our neighbor was in that position, and I was treated to Cedar Point on a number of occasions as a result. I understand that there are a few of the gold metal passes still around, and they are still being honored at C. P.
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- Raptor Dave *** This post was edited by CPDave on 1/14/2001. ***
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