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Ultimate Rollercoaster > Discussion Forums > Roller Coasters, Parks & Attractions > Holiday World Turmoil

Holiday World Turmoil

CarolH

Posted:
1/9/13 at
9:31:07 PM

I found this very interesting.

Control of Holiday World at stake in legal battle

Re: Holiday World Turmoil by RobLec RobLec Profile at 1/9/13 10:08:23 PM
Interesting, yes, but very long and detailed "legaleze". If I understand correctly, she basically wants more money for her share of the park. As I recall, in the past she has never really wanted to have anything to do with the place.

Thank you Carol. It will be interesting to see how this plays out. Will we be seeing you at HWN?

Re: Holiday World Turmoil by chitlins73 chitlins73 Profile at 1/9/13 10:10:43 PM
What a mess!!!
Re: Holiday World Turmoil by CoasterFanatic CoasterFanatic Profile at 1/9/13 11:50:18 PM
Which has to be hard on the entire family/buisness in general. They had offers several years back and Im glad it wasn't sold to Morgan or Six Flags. But like Kennywood. Too many hands in the kitty causes problems.

I have no idea where things stand other than what was stated and have no real thoughts on it other than I hope the park survives and all do well in the end.

Chuck, who's statement on Kennywood was the formers owners statement that several families were involved in the ownership and it was getting difficult to keep everyone happy. So they sold and paid everyone off and were out.

Charles Nungester 323 coasters and holding for two years now LOL Last coaster ride. HWN 2011
Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/9/13 11:51:51 PM
Typical of so many family businesses. It's either estate taxes owed or ownership battles like this that result in so many "family businesses" falling into the hands of big corporations after the death of an owner-operator.
--
Eric
Ultimate Rollercoaster Moderator
Re: Holiday World Turmoil by Overbanked Overbanked Profile at 1/10/13 3:59:56 AM
Holiday World announced their new president & CEO Matt Eckert.

www.newsplusnotes.blogspot.com/2013/01/holiday-world-names-new-park-president.html

Re: Holiday World Turmoil by drachen drachen Profile at 1/10/13 9:52:48 AM
It seems that Lori has claimed (and won) that Koch Development didn't buy her out appropriately after Will's death - which means she wanted more money and got it.

But not only did she get it, she got control of the park, ensuring that her children get it when they are ready, as she said "Regardless of the outcome, the park will continue to be owned and operated by members of the Koch family." Dan is out.

Dan, of course, is appealing/countersuing. It seems, without knowing all of the details, that the company was evenly split between Dan, Will, and Natalie. Dan and Will apparently bought Natalie out, in some sort of agreement that left Will as majority owner.

So, the question is: Which side has the best interest of the park in mind? Is Dan the "outsider" as he once left Santa Claus for Florida to do his own thing, having to return when Will died?

Or is Lori the in-law "outsider" that is trying to take the park from what remains of the original Koch family?

Interesting. Poor Pat...

Either way, Eric is right. This is how small, traditional family business die, and get taken over by a corporation.

I hope that doesn't happen here, but if a large company comes in and says they'll pay both sides their money (and then some), both sides may just take the deal.

Cedar Fair's Holiday World? Six Flags Holiday World? Palace Entertainment's Holiday World? I shudder at the thought...

drachen
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Re: Holiday World Turmoil by RobLec RobLec Profile at 1/10/13 11:06:06 AM
drachen said:

So, the question is: Which side has the best interest of the park in mind? Is Dan the "outsider" as he once left Santa Claus for Florida to do his own thing, having to return when Will died?

Or is Lori the in-law "outsider" that is trying to take the park from what remains of the original Koch family?

Interesting. Poor Pat...

Cedar Fair's Holiday World? Six Flags Holiday World? Palace Entertainment's Holiday World? I shudder at the thought...

I'm hoping that if it happens, it might be the Herschend Family Holiday World.

My take on the blood feud is that Dan, as a lawyer, is basically just an administrator at heart, who stepped in to keep things running following his brother's untimely passing. He was just running a business of which he happened to be part owner, but never really wanted to own a theme park.

Will's widow IMO probably saw HW as "the other woman" that likely consumed too much of her late husband's time, and now that he's gone is primarily interested in preserving the park for Will's children... if they may ever be interested.

Sad part is there is probably no one who will care for the place the way Pat has and Will did.

* This post was modified at 1/10/13 11:24:43 AM *

Re: Holiday World Turmoil by drachen drachen Profile at 1/10/13 1:00:56 PM
RobLec said:

I'm hoping that if it happens, it might be the Herschend Family Holiday World.

My take on the blood feud is that Dan, as a lawyer, is basically just an administrator at heart, who stepped in to keep things running following his brother's untimely passing. He was just running a business of which he happened to be part owner, but never really wanted to own a theme park.

Will's widow IMO probably saw HW as "the other woman" that likely consumed too much of her late husband's time, and now that he's gone is primarily interested in preserving the park for Will's children... if they may ever be interested.

Sad part is there is probably no one who will care for the place the way Pat has and Will did.

Yeah. Dan always seemed to be putting on a "happy face". There is something about him that says "I'm really not into this...".

But then that begs the question: Why is he countersuing? Is he protecting the park's interest? Or is he protecting his financial interests?

And what is Lori's intent? Is she protecting the park's interest? Or is she trying to get more money out of the Koch family? Right now, she has the park. Will she now sell, or does she truly plan to keep it "in the family" (Will's)?

I actually have a lot of questions...

How does Kentucky Kingdom/Bluegrass Boardwalk fit into all of this? It had to play a roll, right?

What was Lori's roll in KDC before the December ruling?

If Dan and Will bought Natalie out, what is her roll now with KDC? Was she not to be the CEO of Bluegrass Boardwalk?

Does Dan have kids that he's looking out for?

* This post was modified at 1/10/13 1:07:53 PM *

drachen
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Re: Holiday World Turmoil by frontrow frontrow Profile at 1/10/13 7:22:48 PM
What a mess. How do they plan to continue to market Holiday World as a family park, when their own family is a mess. Some people, including myself, may look at this as an act of corporate greed. They are fighting over millions of dollars and control and power of a multimillion dollar corporation. Sounds like corporate greed to me. As an enthusiast, I'm going to visit Holiday World regardless. I do think this will be upsetting to some of the local residents. I work with a lot of people from that area. The people I work with, are not coaster enthusiasts, but they are very proud of Holiday World. They are proud how a small family park has become a world class destination, right in their back yard. Any time I mention Holiday World to these coworkers, they are well informed about the park's history, management, and future plans. I guess the local news really keeps these people informed. I'm curious what their reaction is now. This was the last step in transforming Holiday World from a local family business to a large corporation.
Re: Holiday World Turmoil by drachen drachen Profile at 1/10/13 7:51:33 PM
frontrow said:

What a mess. How do they plan to continue to market Holiday World as a family park, when their own family is a mess. Some people, including myself, may look at this as an act of corporate greed. They are fighting over millions of dollars and control and power of a multimillion dollar corporation. Sounds like corporate greed to me...

This was the last step in transforming Holiday World from a local family business to a large corporation.

I agree with you, Ken. There is nothing "family" and down to earth about millionaires fighting over millions of dollars.

How does it happen? Well, this all started with either the Koch family short-changing the late Will's wife, or with Will's wife feeling she got short-changed. Either way, it seems as if it was Lori who started the litigation process.

What's missing from the news article is, if Lori simply wanted to be made whole on what she feels she was short-changed, why was she awarded control of KDC and therefore Holiday World? That's not what the 2002 agreement between the siblings stated.

drachen
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Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/10/13 8:13:27 PM
frontrow said:

Sounds like corporate greed to me.

Wait a second.

This is not a family problem per say (based on the type you're implying), nor does it having anything to do with corporate greed, which by the way means what? Does it mean that in the United States it's now a crime for company to make money and be successful. I hate that term "corporate greed". It's a meaningless, nonsense term fueled by our current President who wants to pit people of different classes against each other.

The fact is most corporations are publicly held companies and their success benefits the shareholders and you can be one if you choose to buy their stock. Publicly traded corporations are thus owned by the public (shareholders) and the success benefits those who own shares in the company.

This issue with Holiday World ownership instead is with regards to complicated agreements and fulfillment of those agreements as a result of an untimely death of an owner. The transfer of business ownership from one individual to another is never a simple task. In some scenarios, no matter what sort of agreement, it's impossible to accomplish because it requires a great sum of cash or liquidity which individuals often don't have.

Based on the stories I've read it appears that there are three issues. One, a disagreement over the valuation method to determine what the company is worth and thus what the individual shares are valued at. Two, a shortage of cash or ability to borrow to execute the transaction. Three, a disagreement on whether an existing liability should be credited against the monies owned towards the buyout of Will's shares.

* This post was modified at 1/10/13 8:20:22 PM *

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Eric
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Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/10/13 8:19:34 PM
drachen said:

There is nothing "family" and down to earth about millionaires fighting over millions of dollars.

That's not fair to say that a millionaire shouldn't care about money or receiving their fair share in a transaction. The same basic rules apply to people of any financial means.

What you're implying is that if you have enough already you shouldn't care if you get screwed here or there because there is plenty more where it came from.

That's not how successful people become millionaires. People who can't value a dollar don't become rich because they throw their money away.

* This post was modified at 1/10/13 8:21:05 PM *

--
Eric
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Re: Holiday World Turmoil by frontrow frontrow Profile at 1/10/13 9:21:23 PM
Eric_Gieszl said:

frontrow said:

Sounds like corporate greed to me.

Wait a second.

This is not a family problem per say (based on the type you're implying), nor does it having anything to do with corporate greed, which by the way means what? Does it mean that in the United States it's now a crime for company to make money and be successful. I hate that term "corporate greed". It's a meaningless, nonsense term fueled by our current President who wants to pit people of different classes against each other.

The fact is most corporations are publicly held companies and their success benefits the shareholders and you can be one if you choose to buy their stock. Publicly traded corporations are thus owned by the public (shareholders) and the success benefits those who own shares in the company.

This issue with Holiday World ownership instead is with regards to complicated agreements and fulfillment of those agreements as a result of an untimely death of an owner. The transfer of business ownership from one individual to another is never a simple task. In some scenarios, no matter what sort of agreement, it's impossible to accomplish because it requires a great sum of cash or liquidity which individuals often don't have.

Based on the stories I've read it appears that there are three issues. One, a disagreement over the valuation method to determine what the company is worth and thus what the individual shares are valued at. Two, a shortage of cash or ability to borrow to execute the transaction. Three, a disagreement on whether an existing liability should be credited against the monies owned towards the buyout of Will's shares.

This is why I could never have a career in business. I have things like a conscience, morals, and values. I'm not a wealthy man, and I never will be. I am, however, a very successful man. I have managed to do the things that are important to me. Whether it's riding the best coasters in the country, or fly fishing the best streams in the country, or going to the best NASCAR tracks, or playing golf on the top notch coarses, I have been fortunate enough to do those things. When you money and power dictate your success or failure that is called greed. When you own a multimillion dollar corporation and pay your workers minimum wage in order to make more millions, that is corporate greed. Corporate greed is real and prevalent in this country. When all you care about is how much money you can make, that is greed. I actually care about people, especially my family. I'm not going to get into a political debate. My family is the most important thing to me. I want everyone in my family to accomplish their hopes and dreams. I love sharing my hobbies with my family. The point I'm trying to make is Holiday World was a very small park started by a family. Throughout the years that family worked hard together in order for it to grow and prosper. Now that family is in turmoil over money and power. I'm sure there were hard times between Santa Claus land and the current Holiday World. Because the family shared the same passion, they got through it and succeed. Now Holiday World is no different from Six Flags or Cedar Fair. Money is now their benchmark for success. They have forgot what started that park; passion, hard work, envisions, and family values.

Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/10/13 9:32:13 PM
You clearly don't get what I said.

People don't go into business for "social reasons". The purpose of a business is to make money.

What did you think Holiday World was in the business of? What is any business owner in the business of doing?

When I go to work every day I'm not there to change the world or to be there because I like to work. I go to collect a paycheck and I'm going to make sure I make as much as I can possibly make. Corporations making money is no different than an employee collecting a paycheck or seeking a promotion and raise.

Lastly, you pay workers what's appropriate for the task they perform. Most theme park workers make minimum wage because there is little to no skill requirements in the tasks they perform. However, most minimum wage jobs are performed by high school or college age workers who move on to jobs that require more skill and thus pay more later in life. Few people spend a lifetime working in a minimum wage position.

So since you hate corporate greed I want to ask that you do the following:

1. Don't ask or seek any further promotions or raises in your lifetime or else you're being greedy.
2. If you make more money than you need now I want you to write a check to your employer right now and return the money to him. You didn't need it so you were greedy to take it.
3. If you own any stocks, have a 401k or any other form of retirement please sell them all and rid yourself of them right now. Most of these investments grow thanks to corporate profits and I wouldn't want those profits (greed as you've called them) enriching you.

Thanks.

* This post was modified at 1/10/13 9:36:14 PM *

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Eric
Ultimate Rollercoaster Moderator
Re: Holiday World Turmoil by frontrow frontrow Profile at 1/10/13 9:41:42 PM
Eric_Gieszl said:

You clearly don't get what I said.


People don't go into business for "social reasons". The purpose of a business is to make money.

What did you think Holiday World was in the business of? What is any business owner in the business of doing?

When I go to work every day I'm, not there to change the world or to be there because I like to work. I go to collect a paycheck and I'm going to make sure I make as much as I can possibly make. Corporations making money is no different than an employee collecting a paycheck or seeking a promotion and raise.

Lastly, you pay workers what's appropriate for the task they perform. Most theme park workers make minimum wage because there is little to no skill requirements in the tasks they perform. However, most minimum wage jobs are performed by high school or college age workers who move on to jobs that require more skill and thus pay more later in life. Few people spend a lifetime working in a minimum wage position.

So since you hate corporate greed I want to ask that you do the following:

1. Don't ask or seek any further promotions or raises in your lifetime or else you're being greedy.
2. If you make more money than you need now I want you to write a check to your employer right now and return the money to him. You didn't need it so you were greedy to take it.
3. If you own any stocks, have a 401k or any other form of retirement please sell them all and rid yourself of them right now. Most of these investments grow thanks to corporate profits and I wouldn't want those profits (greed as you've called them) enriching you.

Thanks.


I have a well thought out rebuttal to that, but I'm not going to state it. Apparently you and I are completely different people and look at the things in totally different perspectives. This conversation is starting to get away from rollercoasters and amusement parks. The the last thing I'm going to say is I hope Holiday World does prosper and the family finds a way to solve their differences.

Re: Holiday World Turmoil by CoasterFanatic CoasterFanatic Profile at 1/10/13 10:00:19 PM
drachen said:

RobLec said:


I'm hoping that if it happens, it might be the Herschend Family Holiday World.

My take on the blood feud is that Dan, as a lawyer, is basically just an administrator at heart, who stepped in to keep things running following his brother's untimely passing. He was just running a business of which he happened to be part owner, but never really wanted to own a theme park.

Will's widow IMO probably saw HW as "the other woman" that likely consumed too much of her late husband's time, and now that he's gone is primarily interested in preserving the park for Will's children... if they may ever be interested.

Nobody bought Natalie out. Will, Dan and Natalie bought Bill Sr. Out shortly before his passing. Will being majority share at 49 percent.

The agreement was for if anyone passed. The other two would buy those shares out at a set price. It didn't happen, At least at THE SET PRICE so Lori is HOLDING Will's shares at the moment.

Its none of my buisness but thats the gist of it. Dan and Natalie still have their shares, Just not control. and the operations are being handled by the former park controller now as GM of the park per Lori's request as majority owner.

My best to everyone that they come through this.

Charles Nungester 323 coasters and holding for two years now LOL Last coaster ride. HWN 2011
Re: Holiday World Turmoil by drachen drachen Profile at 1/10/13 10:08:06 PM
Eric_Gieszl said:

drachen said:

There is nothing "family" and down to earth about millionaires fighting over millions of dollars.

That's not fair to say that a millionaire shouldn't care about money or receiving their fair share in a transaction. The same basic rules apply to people of any financial means.

What you're implying is that if you have enough already you shouldn't care if you get screwed here or there because there is plenty more where it came from.

That's not what I meant at all. I think you know that you and I see these sorts of things in the same light...

What I was trying to say is that the idea of millionaires fighting over millions of dollars won't go over to well with a general public that has always held the Koch family in high regard.

I think both families have every right to secure whatever money they can for themselves. It just won't go over well in the public's eye. The Koch's won't get much sympathy there, only backlash.

drachen
Coaster to Park Ratio: 4.87 / Steel to Wooden Ratio: 2.57 / Wooden Coaster Percentage: 28%
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Re: Holiday World Turmoil by CoasterFanatic CoasterFanatic Profile at 1/10/13 10:12:05 PM
Im with Eric on this. This is Buisness and I don't see that the family can't all sit at the super table and be a family.

Some think HW is the only holding the family is involved in. WRONG, There are other propertys and investments as well.

I agree with Eric, Dan (Via Promisory note) Probably tried to get loans not available to buyout Lori. Remember, Securing FUNDING (LOANS) has been a major problem for many people EXPECIALLY IN THIS BUISNESS. NO LESS THAN THREE have tried to get backing for Kentucky Kingdom.

Some of this SO CALLED GREED is Companies no longer able to get LOANS are holding off on raises and benefit increases SO THEY CAN FUND THEIR OWN INVESTMENTS IN ITSELF. Securing those peoples jobs for the future as well as the companies success.

McDONALDS, Couldn't even get Bank financing for it's McCAFE investment which the eventually did themselves and its a BILLION DOLLAR SUCCESS.

Greed isn't always bad and is often MISTAKEN AS SUCCESS over failure.

By the GREED FORMULA CF should not invest in Gatekeeper and possibly grow and at least maintain its throughput. But instead give that 25 million to the employees and BE OUT OF BUSINESS WITHIN THREE YEARS.
Chuck

* This post was modified at 1/10/13 10:15:36 PM *

Charles Nungester 323 coasters and holding for two years now LOL Last coaster ride. HWN 2011
Re: Holiday World Turmoil by drachen drachen Profile at 1/10/13 10:21:53 PM
CoasterFanatic said:

Nobody bought Natalie out. Will, Dan and Natalie bought Bill Sr. Out shortly before his passing. Will being majority share at 49 percent.

The agreement was for if anyone passed. The other two would buy those shares out at a set price. It didn't happen, At least at THE SET PRICE so Lori is HOLDING Will's shares at the moment.

Its none of my buisness but thats the gist of it. Dan and Natalie still have their shares, Just not control. and the operations are being handled by the former park controller now as GM of the park per Lori's request as majority owner.

My best to everyone that they come through this.

I agree Chuck. I hope only the best comes out of this.

For reference, the article states that Will and Dan purchased Natalie's shares from her.

"Will and Dan Koch purchased the shares from their sister, Natalie Koch, just months before Will Koch’s death. That sale, sources tell the Journal-Democrat, was based on negotiations between the siblings"

Whether that's the truth or not, I don't know.

So, what did the judge order? That Lori is now the majority shareholder? It seems that she wanted out (her payout) after Will died. But now she's in control and fires her share-holding brother-in-law who was serving as Park President?

There is more to this than has been told. It's a shame it has to be done so publicly now.

drachen
Coaster to Park Ratio: 4.87 / Steel to Wooden Ratio: 2.57 / Wooden Coaster Percentage: 28%
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Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/11/13 1:36:08 PM
drachen said:

What I was trying to say is that the idea of millionaires fighting over millions of dollars won't go over to well with a general public that has always held the Koch family in high regard.

Oh, I agree, but the current public attitude is largely based on the press and our President who portrays the wealthy as the enemy of most.

Apparently, they tried to mediate a resolution, but that failed. I don't think that the one side really cares what the public thinks.

Regardless, the public shouldn't view it as negative. This is exactly what the courts are for to resolve disputes. When you have an agreement both sides need to hold up their end of the deal and that applies for people of all financial means.

--
Eric
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Re: Holiday World Turmoil by drachen drachen Profile at 1/11/13 3:46:50 PM
Eric_Gieszl said:

but the current public attitude is largely based on the press and our President who portrays the wealthy as the enemy of most.

Yep. But I'll refrain from getting too far into the political side of things. It's interesting that we've had two threads recently that have spun political (this one and the Seaside one). Perhaps a new website is in order Eric...

ultimatepolitics.com ?

Eric_Gieszl said:

Apparently, they tried to mediate a resolution, but that failed. I don't think that the one side really cares what the public thinks.

Interesting. Which side are you referring to, Lori's or Dan's? I would imagine that Dan would care what the public thinks...

drachen
Coaster to Park Ratio: 4.87 / Steel to Wooden Ratio: 2.57 / Wooden Coaster Percentage: 28%
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Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/11/13 5:25:06 PM
Lori's side, but neither side may be worried about the court of public opinion. The fact is the issue has to get resolved and if a court of law is the place to do that then so be it.

No political site at this time. Maybe next week.

--
Eric
Ultimate Rollercoaster Moderator
Re: Holiday World Turmoil by mrccj12 at 1/13/13 9:30:52 PM
Dan has been involved with the park for 40 years, the widow danced in 1984 and has not worked there since. As per a formal, legally binding agreement, upon the unfortunate death of his brother, Dan was to take over and gain full control of the park. As his brother Will expected, the park has thrived under Dans leadership and achieved record sales and profitability.

In order to fulfill Wills clear, legally documented intention to pass the park to Dan, Dan had to leave his Florida law practice built over 20 years, commit to spending significant time away from his children, take on numerous personal and business related financial obligations, work 90 hour weeks in season and temporarily move in with his mom (not easy at 48 years old).

The widow falsely stated that Dan was returning to his law practice. Dan can return to his Florida law practice and may do so at some point but recent reports that he has done so are inaccurate. Against the wishes of his brother, the widow fired Dan from his own company, one started by his mom and dad. For now, in a gross disregard for Will Kochs desires, Dan waits for the trial appeal and his chance to reclaim what will wanted upon his death.

We can all surmise the facts, but the only definite written fact is the one Will Koch signed stating that Dan should get the park. It is an insult to the deceased to ignore his wishes. Greed, Greed, Greed. Is $30 million plus not enough for the widow? We should pray for her and give her the collection plate next Sunday.

Re: Holiday World Turmoil by CarolH at 1/14/13 8:54:03 PM
The widow has a name. While Lori has not "worked" at the park since 1984 she was Will's wife & the mother of his children. Please show some respect remember behind every good man, stands a great woman.

Interesting that this is your 1st and only post in this forum.

* This post was modified at 1/15/13 7:04:02 PM *

Re: Holiday World Turmoil by CoasterFanatic CoasterFanatic Profile at 1/15/13 9:06:28 AM
CarolH said:

The widow has a name. While Lori has not "worked" at the park since 1984 she was Will's wife & the mother of his child. Please show some respect remember behind every good man, stands a great woman.


Interesting that this is your 1st and only post in this forum.

Well said! That is all.

Charles Nungester 323 coasters and holding for two years now LOL Last coaster ride. HWN 2011
Re: Holiday World Turmoil by Eric_Gieszl Eric_Gieszl Profile at 1/16/13 1:45:00 PM
Agreed, well said. Those of you who are calling Lori greedy are being equally disrespectful to Will.
Re: Holiday World Turmoil by Overbanked Overbanked Profile at 3/25/13 2:01:29 PM
Oh boy, things continue to be uncertain concerning HW's future ownership, with all of this family drama.

www.courier-journal.com/apps/pbcs.dll/article?AID=2013303240105

Re: Holiday World Turmoil by drachen drachen Profile at 3/25/13 2:43:04 PM
As I read that article, I find myself more on Dan's side than Lori's.

If the price per share on the buy-out was not adequate for Lori, and even if it was not correct, the decision the judge should have made was to require payment of a correct price - not hand the entire company to Lori.

I also feel Lori was in the wrong to sue for control of the park.

Will had 60% of the stock. Dan had 40%. They were the owners, not Lori and the children. There was no "succession" plan in place if one died, just that the remaining brother had to buy the other shares within 210 days.

The buyout happened, just not at the price Lori expected/wanted. So, her response is suing for control of the company? I don't think so.

Dan should get the company. Lori, and the kids, should be made whole on Will's share's values and cut ties.

drachen
Coaster to Park Ratio: 4.87 / Steel to Wooden Ratio: 2.57 / Wooden Coaster Percentage: 28%
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Re: Holiday World Turmoil by depotrat at 3/25/13 3:37:47 PM
This mess seems to be Will's fault. Why would he put a formula in the sale agreement that would not yield a fair market price? Seems to me that Dan is within his rights to only offer what the agreement set. If he had died first it would have been the same in reverse. I do not see how a price paid to a living sibling has anything to do with the agreement between the brothers.

Unless there is more here than what was in the story it seems odd how the judge ruled and I would expect a reversal during the appeal process.

Re: Holiday World Turmoil by RobLec RobLec Profile at 3/26/13 9:06:08 AM
I'm sorry to say that unfortunately Holiday World is now completely off our family's radar. Watching this blood feud going on has not made me feel any more comfortable with what we might hope to experience if and when we might ever return to the park. As mentioned in my earlier reply in this thread, Will's widow never gave a damn about the place while her husband was alive. Dan had at least been remotely involved in its operation. He does not need to own the park, but the park needs a family member who loves the place and is intimately involved with it's successful operation. HW was always a labor of love for Will and his parents, but now it has evidently become nothing more than merely a cash cow... one that I will not feed.