Cedar Fair board knocks Q proposals

Cedar Fair's board of directors says that two proposals from Q Investments will hurt the amusement park company's long-term prospects and disrupt the company's search for a replacement for CEO Dick Kinzel, who is retiring.
Tom Jackson
Dec 13, 2010

Cedar Fair's board of directors says that two proposals from Q Investments will hurt the amusement park company's long-term prospects and disrupt the company's search for a replacement for CEO Dick Kinzel, who is retiring.

The letter sent to all Cedar Fair investments points out that the board's position is unanimous, and that the Q Investments proposal is even opposed by the two new members that Q Investments placed on the board, Eric Affeldt and John Scott.

Unitholders will be voting on the two proposals in a special meeting next month. Q has asked unitholders to tell the company to emphasize paying cash dividends over paying off debt, and to separate the jobs of chief executive officer and chairman of the board.
 

 

Comments

6079 Smith W

During the talks to take Cedar Fair private with Apollo Mgmt., I'd written not to automatically assume that Q Funding was a friend to the small investor.

These guys have backers to which they are beholding and are looking to make a profit on their investments, perhaps not in the long-term interest and health of the co.

Never assume that the interests of the "big boys" are the same as the small retail investor - 'cause they're usually not.

Through several diversified mutual funds I am an indirect investor.

 

Cowboy

Well I am a direct investor and I say jack up the dividend baby!!!

6079 Smith W

@ Costanza:

So you really feel that (FUN) is in such a good cash position that it can afford to increase the div'd payout? I'm surprised that they've re-instated the div'd at all.

IMO, your only advantage as a direct investor is that you have far more to lose on this dog of a stock.

"Shrinkage", ya know? :)

 

Cowboy

If they don't, they will not have investors anymore.........think about.   And no....I don't know about shrinkage....sounds like a personal problem....You might want to get that checked....Ha ha ha ha ha

Browndog271

Its time for a change,  he hired all his kids and was getting a piece of the company in the Appollo deal,  then the company would go public in a couple years and he would have made 100MM,  now go figure why he liked the deal.  As to Finances,  Duh,  his broker on that mess was his son.