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Zimmy

Nessie is lonely.
Silver Donor
Sep 28, 2013
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This is just another reason I am bearish on the Seas stock. If there is one thing that history bears (see what I did there) out it's that it abhors uncertainty. Also the zoo cuts several weeks ago were clearly a harbinger of things to come.

When leadership seems to be in a constant state of flux and your major investors are... unreliable... it does not spell good things for the future.
 

Zachary

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Sep 23, 2009
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I renamed this thread to make it a more general catch-all for the continued management shuffles that seem to be taking place at SEAS right now.

I hope these people who are jumping ship don't know about an iceberg in the water somewhere in the near future...

According to the recent investor notes SEAS published, John Reilly gave up half a million dollars in SEAS stock by leaving when he did...

Special Interim Chief Executive Officer Award
On March 2, 2018, the Compensation Committee approved a one-time award of restricted stock units for Mr. Reilly with a grant date fair value of $500,000 in connection with his appointment as Interim Chief Executive Officer. The award was intended to vest in full on the third anniversary of the grant date subject to his continued employment with us. This award was forfeited upon Mr. Reilly’s resignation in March of 2019.
 
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Zimmy

Nessie is lonely.
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Sep 28, 2013
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Time to put on my properly shielded and bonded copper foil hat...

<insert mouth breathing>

That sounds like he was guilty of something REALLY terrible and fessed up to it before it went public. Makes we wonder if the SEC was about to bring the hammer but agreed to not if he left, quickly. Certainly not unprecedented in corporate America.
 
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Mar 16, 2016
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Time to put on my properly shielded and bonded copper foil hat...

<insert mouth breathing>

That sounds like he was guilty of something REALLY terrible and fessed up to it before it went public. Makes we wonder if the SEC was about to bring the hammer but agreed to not if he left, quickly. Certainly not unprecedented in corporate America.

Putting mine on....this along with the falling through of the deal with the Chinese company, and I think one of the two sides was caught lying about the deal with either the valuation o what they had to back their offer.
 

Zachary

Administrator
Sep 23, 2009
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That sounds like he was guilty of something REALLY terrible and fessed up to it before it went public. Makes we wonder if the SEC was about to bring the hammer but agreed to not if he left, quickly. Certainly not unprecedented in corporate America.

Assuming you're talking about Reilly here, that seems really unlikely. The notes state that the company asked him to stay on in his previous COO position after they brought in the new CEO. There were what, 15 days between SEAS naming their new CEO and Reilly turning in his letter of resignation?

Maybe it's all just happenstance, but to me the intriguing part is how many positions of power in the company have been vacated in the last year, not any one specific departure. The churn seems to be monumental.
 

BGWnut

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Sep 24, 2018
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As I understand Manby had always been clear to the board that he never intended to renew his contract. He was always planning on only being here for 3 years. The board had simply hoped they could convince him.

Reilly makes sense in that he didn't want to step back down from being the CEO and I can't really blame him.

Mark Pauls is the one that really surprised me. My guess would be that he got a job offer somewhere else that he just couldn't turn down.
 
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GrandpaD

Curve Flattener.
Aug 3, 2017
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If I were Reilly, I'd have walked. Much of the recent growth happened under his watch and I assume most of the new attractions coming in the next few years bear his stamp of approval. And yet SEAS decided they wanted another leader. Speaking from experience, it's a difficult situation to become second banana after you've lead the bunch.

In regards to Pauls, as well as Reilly, you usually don't make a move unless you already have a place to land. In both cases, I wonder if there were non-compete clauses in their contacts; preventing them from joining a direct competitor for a certain period of time.
 
Mar 16, 2016
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In regards to Pauls, as well as Reilly, you usually don't make a move unless you already have a place to land. In both cases, I wonder if there were non-compete clauses in their contacts; preventing them from joining a direct competitor for a certain period of time.
I’d be confident in saying they do even without seeing anything. Last thing SEAS would want is them landing at another park and being able to green light a similar project much faster or open at the same time and steal some of SEAS spotlight.
 

BGWnut

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I’d be confident in saying they do even without seeing anything. Last thing SEAS would want is them landing at another park and being able to green light a similar project much faster or open at the same time and steal some of SEAS spotlight.
Even if there is a non compete clause there are still laws that prohibit you from using your knowledge of your previous employers plans to your benefit at a new position
 

Jonesta6

Glumble
Feb 14, 2019
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I feel like Airtime Thrills did a good job of putting into video what's been discussed here and making the issues wider known - Hillpath Capital being the largest one it seems.
 

Sir Griffondor

DrachenFire matchstick
May 4, 2021
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60
I'm back 😹 in action.
Wonder when Pantheon will be in action lol...
I'll like to thank all you for allowing me to see the light.
I've since did much digging and it's a very real possibility SEAS could be going bankrupt. It's also becoming more likely SEAS will not see a large return on there roller coaster investments.
I'm sure alot of you guys know this, yet you support.
It's kinda sad you jump on me but continually carry on a pipe dream. The writing is on the wall most you all feel it too. Just admit Pantheon may not run until 2022 when BGW could be sold.
All this talk about how great SEAS is doing is nonsense.
 

Sir Griffondor

DrachenFire matchstick
May 4, 2021
99
39
60
I'm back 😹 in action.
Wonder when Pantheon will be in action lol...
I'll like to thank all you for allowing me to see the light.
I've since did much digging and it's a very real possibility SEAS could be going bankrupt. It's also becoming more likely SEAS will not see a large return on there roller coaster investments.
I'm sure alot of you guys know this, yet you support.
It's kinda sad you jump on me but continually carry on a pipe dream. The writing is on the wall most you all feel it too. Just admit Pantheon may not run until 2022 when BGW could be sold.
All this talk about how great SEAS is doing is nonsense.
And yes after more research the company is even more Pathetic than I originally thought was possible. They had multiple theme park deals internationally fall thru, furloughed the employees 90%( other chains retained employees), and didn't want to pay for the coasters.
While I know this is a Pantheon forum, truly the real issue is SEAS and how bad this chain is currently doing.
 
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Nicole

Administrator
Jul 22, 2013
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Arlington, VA
Once again, this is NOT a Pantheon forum. You incorrectly posted your views on SEAS in the Pantheon thread. So, I have moved them here, where they belong. (I asked you to use this thread previously.)

Please stop misstating what other people have said. It is obvious you haven’t actually read any of the discussions relevant to your posts. As I said before, you should actually read other threads, before you claim to know what anyone thinks about SEAS.
 
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Mar 16, 2016
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Lack of showing work + failing to understand the market + parroting the same opinion as fact over and over sounds more like a spurned lover than someone who understands what the facts are. Have fun screaming at clouds.
 

Jahrules

Possibly the 1-millionth Pantheon thread viewer.
Advisory Panel
Feb 3, 2019
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Lack of showing work + failing to understand the market + parroting the same opinion as fact over and over sounds more like a spurned lover than someone who understands what the facts are. Have fun screaming at clouds.

Carry the 1...
 

Nicole

Administrator
Jul 22, 2013
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Arlington, VA
And Pantheon still isn't open and SEAS still doing a pathetic job. Yet you still here holding on to hope your right...keep waiting

Right about what? You still have no idea what anyone here thinks. And you seem to assume our nearly 4000 members agree on anything.
 

horsesboy

DarKoaster stalker
Advisory Panel
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Jun 16, 2013
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And yes after more research the company is even more Pathetic than I originally thought was possible. They had multiple theme park deals internationally fall thru, furloughed the employees 90%( other chains retained employees), and didn't want to pay for the coasters.
While I know this is a Pantheon forum, truly the real issue is SEAS and how bad this chain is currently doing.
Sea actually has weathered the Pandemic better then most park chains. Disney and Cedar both were harder hit when you look at the raw numbers. Yes some of their actions in regards to employees and contractors seem mean spirited and I do believe that they deserve some backlash for that but they were also in a worse financial state to begin with and had the added expenses of the annimal care that many other
chains didn't. Almost every chain furloughed or laid off large numbers of employees. They also were one of the first chains to open parks back up and resume operations. For comparison KD didn't open till DECEMBER and that was only for 2 weeks before shutting back down and oy this weekend reopening on a limited basis.
 
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