AsthmaField
Outta bounds
- Messages
- 26,489
- Reaction score
- 44,544
Shows what a Grade-A ******bag this guy really is.
--Clip from article--
The Commanders owner gained control of Six Flags by leading a stockholder coup. In October 2005, he addressed a letter, along with former ESPN executive Mark Shapiro and Commanders co-owner Dwight Schar, to "Fellow Stockholder." That letter, filed with the Securities and Exchange Commission, blasted the abilities of then-reigning board Chairman Kieran Burke and declared that folks would have "done better by hiding their money under a mattress" than investing in Six Flags under Burke. Snyder bragged that he, the owner of the "the most valuable [team] in U.S. sports," would make everybody richer. That pitch fired up the base enough to get Burke ousted and Snyder put in charge. As Snyder was putting his plan in place, and adding big names like Jack Kemp and Harvey Weinstein to his board of directors, Six Flags stock sold for $11.93 a share. Snyder controlled 10,921,300 shares at the time, according to SEC filings, making his Six Flags holdings worth more than $130 million.
But then the coaster started rolling downhill. As of last week's settlement, those shares are essentially worthless—SIXFQ was trading at 1.7 cents this morning, and it's trending toward zero.
Link: http://www.slate.com/id/2252716/
--Clip from article--
The Commanders owner gained control of Six Flags by leading a stockholder coup. In October 2005, he addressed a letter, along with former ESPN executive Mark Shapiro and Commanders co-owner Dwight Schar, to "Fellow Stockholder
But then the coaster started rolling downhill. As of last week's settlement, those shares are essentially worthless—SIXFQ was trading at 1.7 cents this morning, and it's trending toward zero.
Link: http://www.slate.com/id/2252716/
