swampfox43, on Mar 20 2006, 12:31 PM, said:
Exactly! But the main reason the Pavilion "might" be losing money is that they have made ZERO capital investments in the park since the Hurricane Coaster opened in 2000. The park has gradually gone down since then and I assume the reason is because B&C knew they were going to close it.
The "losing money" excuse is just a sorry justification for closing it down. There are many other smaller amusement parks that are open even less days a year than the Pavilion that continue to make profits because they have good management and they continue to invest in their parks.
True, I heard on the news last night that B&C was going to close it regardless of the petition, but like I said, it won't go down without a fight.
Sadly, another historic icon lost to pure greed! The Pavilion is one-of-a-kind structure that will be replaced with some bland cookie-cutter condo, shopping complex.......that you can see anywhere....
You are so right, on all points.
My question is--why don't they just SELL it? When other corporations want to respond to legitimate complaints from stockholders regarding certain assets no longer wanted, as B&C claims they are doing, they SPIN OFF, DIVEST, or SELL that business. Let another company devote the needed investment in this long neglected cash cow! Perhaps Ripley’s-has B&C asked them if they are interested?
If B&C had ANY civic pride, they would do the right thing and SELL this treasure that everyone holds so dear to someone who wants it--even if it meant getting just fair market value. The stockholders would get their wish (unloading an unprofitable division), the people who love the place would be joyous, the city and neighboring businesses would be happy to see new owners come in for a revamp, etc., etc. What is B&C’s problem-why would any company annihilate their greatest legacy?
Burroughs & Chapin: DO THE RIGHT THING. If for no other reason, it would do WONDERS for your image, and perhaps dispel this "evil empire" representation you have in a lot of our minds at the present time. Hello, is anyone listening . . . . ?