Money?
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A LOT. There was a rumor circulating among employees (as I'm sure there is every year) about our paychecks are from profits made in the '80s, but I'm sure that's nonsense. Jeff -- would you know any type of figures?
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PO!NT OF VIEW - A Different Look at Roller Coasters
http://www.crosswinds.net/~justmayntz/thrills/
** Updated April 4, 2001 **
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PO!NT OF VIEW - A Different Look at Roller Coasters
http://www.crosswinds.net/~justmayntz/thrills/
** Updated April 4, 2001 **
CrystalKat: Those kinds of rumors are untrue and silly... probably started by some bitter employee who didn't get their way.
According to the annual report, the net revenue was up in 2000, but I would expect that given the acquisition of the two new water parks. Like any other business, they have a balance sheet, and it has a fair amount of detail.
I think that the most interesting number in the annual report is the one about long-term debt. Right now it sits at $300 million. I don't know where it came from, but I'm going to assume it had a lot to do with the purchase of Knott's Berry Farm and the water parks. Kinzel told CoasterBuzz that they generally don't do capital improvements unless they know that there's a quick pay-off.
So how much do they make in a day? Well, if you count park admission averaging $25 (we'll shoot low for discounts and season pass holders) and in-park spending around $34, multiplied by a busy day of 30,000 guests, you're looking at $1.7 million. That's not counting Soak City or the resort rooms, which are generally booked solid.
That sounds fantastic, but now consider the army of people that is required to run the park. The seasonals are all at $7.25/hr. (assuming they finish their contract). Take a coaster like Magnum with a crew of eight working around 14 hours. That's $812 and doesn't count the area supervisors, the mechanics on call, the wheels that need to be replaced, the electricity to run the ride, the DJ, the off-season rehab and inspection, brake shoes, fog for the tunnel, chain replacement every two or three years, or the fact that it cost $8 million to build the ride in the first place.
If you think the ride operation is expensive, pick any food joint in the park. Some have huge crews that have to prepare, cook and serve massive quantities of food.
Then start to factor in all of the management and park-wide services that involve things like marketing, purchasing, wardrobe, employee food service, parking, environmental services, year-round maintenance, etc. That's a lot of people to pay.
And don't forget the millions of partnership units that investors have. They get more than $1.50 per unit every year.
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Jeff
Webmaster/Guide to The Point
Futuristic bow-wow... do the dog catcher!
According to the annual report, the net revenue was up in 2000, but I would expect that given the acquisition of the two new water parks. Like any other business, they have a balance sheet, and it has a fair amount of detail.
I think that the most interesting number in the annual report is the one about long-term debt. Right now it sits at $300 million. I don't know where it came from, but I'm going to assume it had a lot to do with the purchase of Knott's Berry Farm and the water parks. Kinzel told CoasterBuzz that they generally don't do capital improvements unless they know that there's a quick pay-off.
So how much do they make in a day? Well, if you count park admission averaging $25 (we'll shoot low for discounts and season pass holders) and in-park spending around $34, multiplied by a busy day of 30,000 guests, you're looking at $1.7 million. That's not counting Soak City or the resort rooms, which are generally booked solid.
That sounds fantastic, but now consider the army of people that is required to run the park. The seasonals are all at $7.25/hr. (assuming they finish their contract). Take a coaster like Magnum with a crew of eight working around 14 hours. That's $812 and doesn't count the area supervisors, the mechanics on call, the wheels that need to be replaced, the electricity to run the ride, the DJ, the off-season rehab and inspection, brake shoes, fog for the tunnel, chain replacement every two or three years, or the fact that it cost $8 million to build the ride in the first place.
If you think the ride operation is expensive, pick any food joint in the park. Some have huge crews that have to prepare, cook and serve massive quantities of food.
Then start to factor in all of the management and park-wide services that involve things like marketing, purchasing, wardrobe, employee food service, parking, environmental services, year-round maintenance, etc. That's a lot of people to pay.
And don't forget the millions of partnership units that investors have. They get more than $1.50 per unit every year.
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Jeff
Webmaster/Guide to The Point
Futuristic bow-wow... do the dog catcher!
Wow! I had no idea that CP was in debt like that, but then again, I never really thought about it. Running the park is horrifically expensive, yet tremendously profitable at the same time.
Jeff - yeah, I figured the rumor wasn't true - I was never unhappy with my paychecks. :) With such a playground to work in?
I remember the day there were less than 200 guests: the monsoon of '97 (May), when the park closed at 6pm and only a very few rides could even open because of the torrential rains. We kept hearing different numbers, from 8 guests to 36 to 97, but I know it wasn't many!
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PO!NT OF VIEW - A Different Look at Roller Coasters
http://www.crosswinds.net/~justmayntz/thrills/
** Updated April 4, 2001 **
Jeff - yeah, I figured the rumor wasn't true - I was never unhappy with my paychecks. :) With such a playground to work in?
I remember the day there were less than 200 guests: the monsoon of '97 (May), when the park closed at 6pm and only a very few rides could even open because of the torrential rains. We kept hearing different numbers, from 8 guests to 36 to 97, but I know it wasn't many!
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PO!NT OF VIEW - A Different Look at Roller Coasters
http://www.crosswinds.net/~justmayntz/thrills/
** Updated April 4, 2001 **
For a company the size of Cedar Fair, 300 million isn't bad. Does anyone know if CF has floated any bonds in the past? That is the key question, because that is included in the debt figures. I've tried to find any info, but have been unsuccessful so far. Also, The last dividend announced was for .39/share, went x-dividend 4/2, and will be paid 5/15. I tell you, if you play the market (I work in it, so I do) CF is a great company to be invested in. Of everything in my portfolio, it's the only stock that has gone up in this market as of late.
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UCSigep
"Did you make a copy? Because if you made a copy, we could watch the copy."
*** This post was edited by ucsigep on 4/9/2001. ***
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UCSigep
"Did you make a copy? Because if you made a copy, we could watch the copy."
*** This post was edited by ucsigep on 4/9/2001. ***
Saturday October 14th a day before closing I was there!!!!!!! Man the Raptor had a 4 hour line rob! and I had to wait 45 minutes for the ferris wheel! 1 day I can Remember It was Insane...I even remember the employee saying It was deffiantly 1 of the most busiest days of the year...
Greg *** This post was edited by CP2000andBeyond on 4/9/2001. ***
Greg *** This post was edited by CP2000andBeyond on 4/9/2001. ***
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