How our Economy Pushes Six Flags The United States economy is an ever-changing and dynamic system. It is a structure that is made up of people who make critical financial decisions every hour of every day. Every organization, from Wall Street giants to the guy selling hot dogs on the street, is effected by the movements of the overall economy. These economic movements, or trends, can push sales for some, or put others out of business. Though they are intangible, these forces can still be measured, studied, and presented in the form of economic indicators. They can take the form of anything from the productivity of the overall economy, to the supply of money in it. This paper will review the economic indicators Consumer Sentiment Index and the Unemployment Rate and see how they affect theme park giant, Six Flags. …show more content…
At a price tag of 3 million dollars, the first Six Flags park, Six Flags over Texas, opened in Arlington Texas in the year 1961. (When first park opened) Since then the company has grown to 18 parks, 16 in the United States, 1 in Canada, and 1 in Mexico; and is currently the world’s largest theme park company. (The biggest) Last year 25.6 million guests attended a Six Flags park (six flags attendance), posting $1.2 billion in revenue. (Six flags makes money). Ticket transactions accounted for approximately 55% of sales revenue with the rest being from food, games, merchandise, and other income sources. (six flags report, page
Six Flags works off of project control charts, which enables the managers to see different flow charts. This helps the managers to see how the project is coming along with the
Oreo Cookie and Six Flags Commercials - Nostalgia for Sale Many television commercials choose to feature a contrast between youth and maturity as their subject. An “Oreo Cookie” commercial, for example, features a little girl who is about four years old mimicking her grandfather’s actions in eating a cookie. Another commercial advertises the popular theme park, Six Flags Great Adventure. This commercial, entitled “The Six Flags Dancing Man,” features an elderly man dancing like an enthusiastic child.
Initially, these parks were developed as a marketing tool for the Anheuser-Busch American brewing company. Each of the parks were to feature hospitality houses with samples of the Anheuser-Busch products. Since 1933, Anheuser-Busch has been associated with the Clydesdale horses that were housed in stables in all of the Busch Gardens parks. And eventually, rides and attractions were added to the parks until it completely turned into a full theme park while still promoting Anheuser-Busch. Then, Busch Entertainment Corporation was created in 1959 as a subsidiary of Anheuser-Busch Companies to run the various parks. Today the Corporation is known as SeaWorld Parks & Entertainment (Galarraga, Collette, Denny, & LeBrasseur, 2010).
In 2012, the new CEO of Cedar Fair Entertainment announced a new Long Term Growth Strategic plan for the company. The plan is known as the FUNforward and financial goals for the Company. The CEO is headed in this direction because of the significant barriers to entry and a loyal high-repeated customer base as well as the significant momentum that they have created for the Company over the past two record-setting years (Rotting Flesh Radio RSS, 2012). For example, Kings Dominion is one of the largest theme parks on the East Coast and the loyalty of the younger generation is outstanding. The park is located in an area that is very convenient off of interstate 95. Most parents use the theme park as a baby sitter. They drop their kids off in the morning and pick them up in the afternoon after work. The park is so big and it caters to the younger generation and it adds a new ride every couple of years to make the park even more attractive to its customers.
Six Flags Entertainment Corporation prides itself on entertaining millions of families each year as the worlds largest regional theme park company with 18 theme parks spread across North America (Six Flags, 2013). Six Flags primary source of revenue comes from providing world-class entertainment to families and individuals who pay for admission into its parks to ride its coasters, themed rides, and water park attractions. Six Flags has had its ups and downs during its 50-year history but over the past three years it has remained a strong company with total assets increasing year over year. The following analysis will show the financial health and well being of Six Flags Entertainment Corporation.
Six Flags Over Georgia is a theme park containing anything from sweet treats to fun rides. Six Flags provides many activities for all ages. It is not at all uncommon to see famous cartoon characters, such as bugs Bunny, roaming around the park. Olde r children and adults who possess strong stomachs may enjoy riding the various roller coasters available. For example, The Ninja, is my favorite. The Ninja goes up and down steep hills and even loops upside down. Six Flags also has water rides availabl e to keep people cool. My favorite is Thunder river. Last June, I was lucky enough to get caught under the waterfall. Six Flags also has games to play and many souvenir shops. As for the sweets I mentioned earlier, the funnel cakes are absolutely deli cious. I would highly recommend Six Flags as a place to go when visiting the Atlanta area.
In 2001, after the longest period of economic expansion the country has witnessed historically, the United States of America entered into its tenth recession since the end of World War II. A recession transpires when at least two quarters of a year are plagued by a sharp downturn of the country’s gross domestic product or GDP. More specifically, when a recession occurs, unemployment increases resulting in less consumer spending which is associated with poor business performances. Studies by the National Bureau of Economic Research (NBER) concluded that during March of that year, a pinnacle in business occurrences declared the end of the expansion and the arrival of an inevitable and damaging though short recession. In a state of urgency, the president at the time, George Bush, encouraged Congress to ratify a stimulus package plan which would seek to improve the standing of the economy. The NBER theorized that the infamous act of terrorism which took place on September 11th placed an even greater strain on the already damaged financial system because it wreaked havoc on many markets and businesses such as the airline industry. Many times, a recession occurs due to economic disasters that are enough of an impact on society to disrupt expenditures of large-scale businesses and individual citizen households. Consequently, aggregate demand decreases along with employment. Factors such as international conflicts, technological fluctuations and the endeavors of monetary legislators all contribute to the overall American economic status.
The United States’ economy has slowly been recovering since the Great Recession ended in 2009. The country’s gross domestic product has increased steadily since the end of the recession (1). The consumer price index has slowly increased as well (2). The civilian unemployment rate has decreased significantly from its peak of 10.0% in October of 2009 (3). It has not decreased smoothly; rather, there were many small spikes caused by several short increases in unemployment each year (3).
The economy has been progressing, new inventions, and ideas have funded America's economy. However, There were times when America's economy had dropped to a sudden standstill and many
Simpson, David. "Tourism Investment and Arrivals Growing in Mexico." Leisure Tourism (2012): n. pag. Journal of Leisure Research. Web. 2 Dec. 2013
Universal Studios Theme Parks, commonly and also known as Universal Parks & Resorts.The theme parks were owned by Seagram through the ownership via Universal Studios.This is the type subsidiary of NBC Universal or a division of Comcast. The industry of the Universal is Theme park operator. Universal Studios was founded on July 15, 1964; 51 years ago. The headquarters is located in Orlando, Florida, United States. Nowadays, there are fours current theme parks and resort that is Universal Studios Hollywood(Los Angeles, California, United States; wholly owned), Universal Orlando Resort(Orlando, Florida, United States; wholly owned), Universal Studios Japan(Osaka, Japan Licensed to USJ Co., Ltd.) and Universal Singapore (Resorts World Sentosa,
Disneyland marked the onset of theme parks in the nation, which was carved out of a fantasy tale and it has been the leader for 60 years. And, there was virtually no competition to the attraction quotient that attracted people and tourists to visit the theme park.
ii. The economy is said to be experiencing recession when demands for certain products and services shrink. When demand falls, the prices will also decrease. When this happens, companies will not be able to make a lot of profit. To survive in the industry, they needed to cut some of their staffs. During this period of time, the rate of unemployment is rising. When they do not have enough workers, the productions are not as numerous as during the ‘booming’ state. Because of the...
Keeping up to date with all the latest and most important economic headlines around the world is a part of my daily routine, as well as reading newspapers and economic magazines, adapting my studies to the real ...
When it first opened, there was moderate controversy over the lack of African American employees. Since 1963, civil rights activists have pressured Disneyland to hire people of different races to make the park more diverse. Back then Disneyland had a number of temporary rides and shows that passed through rather quickly. This was because the park only had about half the number of attractions it has now. When Disneyland first opened guests were charged separately for admission to the park and attraction tickets. According to the website mouseplanet accessed on November 16 2015, “Adults could get into the park for $1 and rides cost between 10-30 cents.” Since its opening, Disneyland has undergone a number of expansions and major renovations. This includes the addition of New Orleans Square in 1966, Bear Country in 1972, and Mickey's Toontown in 1993. As stated in the article Then and Now on the pbs website accessed on November 16 2015, “Tickets to enter the park now cost around $85.00.” Since the opening the park has restored many classic attractions such as Space Mountain, Jungle Cruise, and the Haunted