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Six Flags Nearing Bankruptcy

According to typical recession logic, it would make sense to vacation at, say, a local Six Flags instead of Disney World, except: The New York Times reports that Six Flags “has a payment of nearly $300 million to holders of preferred stock due this year that it has no way of paying. So for several months now, the company, which is run by Mark S. Shapiro, and its advisers have been discussing a restructuring agreement with its bondholders that would keep the company out of bankruptcy court.”