Six Flags (NYSE:SIX) is creeping ever lower. The company reported disappointing guidance and will take a charge of about $30 million. The next stop for SIX is bankruptcy. SIX was inducted into my list of worst managed companies in the United States.
Here is a thought. Eddie Lampert buys up the $2.5 billion of debt for pennies on the dollar, takes control of the company in bankruptcy court, sells the amusements off to other operators for scrap metal and then owns the prime SIX real estate for well below market value.