Re: Danny Snyder's Six Flags
Date: June 22, 2007 09:55PM
Little Boy Danny may be a stakeholder in the six flags (NYSE:SIX) biz , but it is a pubicly traded company. The corporation is the one who may or may not be liable not Danny.
And yes, Six Flags has insurance.
There are really no Federal standards for the safety of amusement park rides, although there may be state laws and regulations (got that FRIENDLY ATTORNEY? You can not sue for amusement park safety violations in a federal court, OSHA being the exception but then the injured would have to of worked at the amusement park and other conditions would have to be met).
From what I have heard, Texas, where the accident happened, is pretty lenient for safety standards at amusement parks, again that is what I have heard - not legal advise.
The whole amusement park park industry is pretty much self regulated, and quite frankly, they do a pretty good job overall. When was the last time you heard about an accident at Kings Dominion or Disney? The accidents are few and far between and with the millions of people visiting amusement parks and fairgrounds every year, the chance of an accident, historically speaking, is very very small.
Six Flags is traded on the New York Stock Exchange under the the name "SIX". If you own a diversified portfolio of mutual funds, you are probably invested in Six Flags. Thus, you are a stakeholder, sort of. Again there are laws about what mutual fund participants can call themselves, but you are a stakeholder.
Danny is a stake holder in Red Zone LLC, you may see his name or Red Zone LLC listed as the owner of the 10 million shares. Oh, FYI, Cascade Investment is a private investment firm owned by and managing investments of a man named Bill Gates of Redmond Washington.
Corporation and insurance company may be liable. Danny and Bill are not loosing any sleep tonight, trust me.
I hope we all learned something today.
5% Owners Shares Owned
Snyder (Daniel M) 10,921,300
SNYDER (DANIEL M) 10,921,300
Jana Partners [New York] 10,220,955
Cascade Investment 10,210,600
Tracer Capital Management LLC 8,000,000
Dimensional Fund Advisors 7,990,347
Fidelity Management & Research 5,991,
Wallace R Weitz & Co 4,739,100