News: Kinzel signs pact to stay to 2012

http://www.pointbuzz.com/news.htm?id=1058

While I sit here and cry about my own poor professor's salary, I can't argue that Mr. Kinzel is a man who really has lived what some call the "American Dream." He certainly has worked his way up the ladder from his early days at the Point, and he's a credit to that work ethic and an example to which others can look.

While I don't agree personally with every decision he's made for Cedar Point, I look forward to continuing to see him on the midway--he's always extremely polite and gracious.

As a northern Ohioan, I'm also pleased he's apparently decided to keep headquarters here.

Congratulations, Mr. Kinzel, and thanks! *** Edited 12/19/2006 12:24:07 PM UTC by Western Cruiser***

Does anyone know how much Shapiro brings in? Looking at how large Cedar Fair is now, $1.2 mil isn't really all that big of a salary I guess.

I agree that Kinzel has done an amazing job bringing Cedar Point and now Cedar Fair to the place it is. Like cruiser said, he really is a testament to working your way up the "ladder" in a company and becoming successful. Kudos to him for that.

I'd be lying if I didn't say I'm a little disappointed he's keeping the top spot for so long though. It just seems he's run his course and its time for a fresh perspective on things. Stay with the company as a consultant or something, but let someone with fresh ideas take the helm. I know I have no idea what is involved with all the decisions a company like that has to make, but it seems like they could use someone that understands and embraces technology to cut costs and boost efficiency.

Regardless, I wish him the best of luck and hope Cedar Fair continues to succeed in the industry. Second to Disney, they're my favorite and I hope that continues for quite some time! :)

1 million dollars is the most the company can write off, I think. He gets the rest in stock options, bonuses, etc etc

^^ Agreed about the technology. Mr. Kinzel is a great guy and I love the "American Dream" story that goes with his career. That being said, Cedar Fair, in terms of operations, is lagging far behind in technological advances. Someone up there needs to realize that technology is good in other instances besides roller coasters. To really turn Cedar Point into a resort, much needs to happen in terms of technology. Chain-wide, they took a step back with the parking stickers. I just hope that Mr. Kinzel can embrace technology and allow the company to grow even larger than it already has.

I like that he is staying around for at least a little while longer. Especialy with having just made the Paramount aquisition. Wait until things calm down a little.

I agree about the parking passes. Something like EZ-Pass systems they have on Tollways would be nice.

I think it's cool they added the "Hot Spot" to Donut Time. There is always someone using those computers. I'd be interested in seeing a revenue comparison from 2005 to 2006 for Donut time. Maybe other places around the park could benifit from this technology.

I also like the idea of having a couple places around the park with a digital readout of aproximate wait time for rides. Also, indication if a ride is down for mechanical reason or such. For example: When I'm with a group of friends it's frustrating to walk from Millennium Force all the way to Top Thrill Dragster just to see that it is not opperating. I'm not saying they need them all over the place, but maybe one on the Iron Dragon/Wildcat Midway, one on the Top Thrill Dragster Midway. One up near Raptor/Maxair, and one back by Skyhawk/Maverick. It's just a thought. I realize that would likely be a big expense item, but it seems like something a World Class Resort would have in my opinion. And something guests would appretiate and use.

*** Edited 12/19/2006 2:29:11 PM UTC by Jason Hammond***

I'll echo the above comments. I'd really like to see Jack Falfas in that spot now. I think his California experience can bring a lot of fresh ideas to the table.

I'm not sure I understand Kinzel's motivation. The Paramount Parks "turn around" (which weren't failing in the first place) is going to happen regardless of who is at the top because they company culture has been firmly placed at every park. The potential of those parks will be realized in a year or two I'm sure.

Well, if you've walked that far and found that TTPOS is not working, you could always hop on the real coaster that's right across the midway.

Why does it seems like some of you people don't like Richard Kinzel? He has done a heck of a job. He really helped turn Cedar Point around and make Cedar Point what it is today. Jeff I think the aquisition of the Paramount Parks was a great Idea. The company that owned them in the first place didn't really care as much as Cedar Fair does. At least this way Cedar Fair can bring in a couple record breaking coasters. Kinzel is a good man and I am glad he'll be around until 2012.

But there always comes a point where its time to let go. DK has done a great job, there is no doubt about that. But there are aspects of the park that are visibly lagging BECAUSE of a lack of change at the top.

This isn't anyones fault, when somethings not broke, why fix it (unless you're a lawyer or safety guy). But a change at the top would go a long way towards getting those areas up to snuff.

It has nothing to do with whether or not people like the guy. I think he's a top notch and classy guy. I give him all the credit in the world for the development of the company. He in turn would tell you (and said on the CoasterBuzz podcast last year) that a lot of the credit also goes to the skilled people who work for him. I like the guy, and as a unit holder, I'm very happy with his performance to date.

All that being considered, I think the markets that the company serve are changing rapidly, and the world in general is changing in ways that require a lot of new thinking at the top. For decades it's fair to say that you built a nice ride every other year, your attendance increased, and that's that. It isn't that simple anymore. What happens when the company can't increase attendance significantly (CP is already there, in my opinion), and there aren't any more parks to buy? How do you compete with video games, the Internet, etc.? Remember, his entire professional life experience is with Cedar Fair. He's been able to learn on the way, but the company is now a billion dollar enterprise with complex problems that may require outside experience.

There are no haters... we all like Dick Kinzel, especially as coaster enthusiasts. But in terms of the continued development of the company, a lot of people here agree that it's time to explore new directions.

Shawn Meyer said:
Why does it seems like some of you people don't like Richard Kinzel? He has done a heck of a job. He really helped turn Cedar Point around and make Cedar Point what it is today. Jeff I think the aquisition of the Paramount Parks was a great Idea. The company that owned them in the first place didn't really care as much as Cedar Fair does. At least this way Cedar Fair can bring in a couple record breaking coasters. Kinzel is a good man and I am glad he'll be around until 2012.

I don't think anyone was saying that the acquisition was a bad one. The Paramount parks are a group of already successful parks. Now Cedar Fair owns them and will do what they think is right to keep them that way (which doesn't always mean adding a record breaking coaster). Kinzel is a great leader, but like others have said, when there's been the same man at the top for what will be well over 25 years there isn't as much potential for new things.
*** Edited 12/19/2006 3:57:22 PM UTC by Vince982***

Jeff nailed it. The amusement park industry is a mature industry. Any growth for the next decade or so will be incremental at best. The whole paradigm for how to be successful as a park operator is evolving rapidly. Kinzel has done a superb job bringing the chain to where it is now. Having met him once I can attest he is, indeed, a class act. But it just may be that regime change might be more beneficial sooner, rather than later.

I've worked for the man and knew him as well as I could...but certainly not as well as others. I have seen all the good he has done for the company and I have seen the areas of neglect.

As an investor I'm comforable knowing that he will be at the reins. As a former employee I'm sorry that some other things won't get the fresh, open-mindedness of a new leader.

As has been mentioned, he has woefully neglected the infrastructure of the parks in the past, most certainly in terms of technology. I think he has failed the employees in many areas, and most certainly the seasonal employees.

He has stifled the creativity and ingenuity of his full time staff and I think that really leaves us wondering what the potential of the parks could be. Again, I fully appreciate the growth of the company under his watch.

But, what if...?

Jack Falfas needs to take over the reigns. Agreeing with Jeff and all others above, Kinzel is a great man and has done so much for the company. Mr. Falfas would continue leading the company in the right direction, but would add a new twist to it that I'm sure everyone would like.

Don't take it the wrong way, but let's all just hope that the CP&LE Railroad has a fighting chance with the ''Kinzel Administration'' in charge for another six years.

:(

There are good things and bad things that come of this, in my opinion.

I'm somewhat surprised to hear such talk about Mr. Falfas taking over. While I understand why some of you don't want to see Mr. Kinzel in that position anymore, I've never heard great things about Falfas, and was far less than anxious for him to take over the company.

*** Edited 12/19/2006 8:42:24 PM UTC by DBCP***

Do you know what this means? Another retirement with a bang. ;)

But seriously, from what I've heard (I forget where I heard it), the board usually agrees with most of the things he says, so regardless of wether he's there or not, I'm guessing quite a few things would turn out...atleast a bit similar to the way he would've wanted it.

Kinzel can still B**** up a storm if a department goes over budget. His edge is still razor sharp. The issue is that he leads the company and the direction that it takes, and it might not be the best.

Personally, I would put in an OC3, then network the entire park and the resorts. They could then install all kinds of technology. Wait time boards could be placed in the park so you know if Raptor is a walk on.

I'd love to see "Snoopy's Swipe & Select" debit cards. Put a card reader or a few in every shop and food stand. I've seen card readers on vending machines too.

Also, you could have "Charlie's Point to Purchase" fingerpint debit where you don't even need a card. Just press your finger on the scanner and grab your items. Fingerprints are better than cash or debit because you can't lose it. Just register and your good to go for the given time period. Could be used to admit by fingerprint to the park, a new generation "FreeWay" as well as resort room and VIP area access.

You don't have to worry about stamps washing off if they have your fingerprint in the system.

The lockers aren't hard to use, but so many people use them incorrectly and CP profits from the quarters put in them. CP could be in the cool club if they put in automated lockers like at IOA and have a card reader or finger print scanenr on them. For those who want to pay directly, it would have a cash/change eater on it If you forget your locker number, it can tell you.

The use of fingerprints raise all kinds of red flags.

I agree, I am quite scared whenever someone mentions tying a fingerprint reader to something financial/personal as this is. I'd much rather carry around a mag-stripe card tucked away in a pocket. That idea, however, I do agree with as it would be quite beneficial. Whatever can be done to make the actual in-park experience better I appreciate. Maybe even for the one day guests, they could allow you to put X dollars on the card, then just use it whenever instead of cash every time. But then, I'm in Cisco after all, I'm to be expected to pretty much be able to do all of this by the middle of June '08.