McKenna provides the fodder today with a post about Kieran Burke, the man forced out at Six Flags during Sndyer's doomed takeover of the company. Burke and his partners recently won the rights to operate two amusement parks Snyder sold off as his ego drove Six Flags into bankruptcy. In your face, Snyder. In. Your. Face.
Investors, Snyder's letter said, were being so shortchanged by Six Flags management that they would be better off "hiding their money under a mattress" than investing in the company with Burke running the show.
The pitch worked. Snyder was named on 58 percent of the ballots in a proxy vote and was installed as chairman by the end of 2005. That put Burke out of work.
As history shows, other than that letter, not much worked out for Snyder during his time with Six Flags. The world's largest amusement park chain began heading toward insolvency soon after Snyder took over. When Six Flags emerged from Chapter 11 bankruptcy last year, Snyder was no longer a part of the bright future he had argued for.
But before hitting bottom, Snyder had sold Frontier City and White Water Bay from the the Six Flags stable. Burke's current company, Premier Attractions Management, just won the right to operate the two parks.
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