Six Flags at half mast


Six Flags Inc. (SIX) announced yesterday that , barring a significant restructuring, it is likely to go bankrupt this summer. Although this news came out after the close of the market, shares dropped 10 percent to 18 cents in electronic trading. This follows a 32 percent drop this year. In mid-day trading on Friday, SIX is a smidge over 14 cents.

Unfortunately, this isn't really all that surprising. The economic meltdown of 2008 brought a massive drop in disposable income, which has led to falling amusement park revenues. While Disney, the undisputed king of the hill, has been cutting employees and imposing other austerity measures, lesser lights have been going out of business.