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Hawaii Superferry Awaiting Its Next Assignment In Virginia

Our last update in the saga of the Hawaii Superferry wasn’t a positive one. The company had filed for bankruptcy, and the once mighty catamarans were in the process of heading out of Hawaii’s warm water paradise. As of this week, it looks like the ships are planning to call Norfolk, Virginia their home while they await their final fate.

The Alakai, one of two high speed ferries, arrived in Virginia this week. The other is on its way and should arrive before the end of the month. They were in Alabama for a little bit, but the US Maritime Administration feels that a home in Virginia is better for insurance reasons. They were also a little bit worried about hurricane season—good thinking.

At this point, it’s pretty much a guarantee that these vessels will never find their way back to the islands. However, they may have a busy schedule ahead of them. Rumors suggest that the Navy is looking into leasing both of them. For now, if you’re looking for a used high-speed ferry, and have some cash, you could get a hell of a deal on these two.

Related Stories:
· Ferries From Bankrupt Hawaii Company Land in Norfolk [Virginian-Pilot]
· Hawaii Superferry Is Grounded and Lonely [Jaunted]
· Ferry Travel coverage [Jaunted]

[Photo: hawaii]

Theme Parks / Amusement Parks / Six Flags / Theme Park Travel / Roller Coasters / Recession Travel / Recession / → All Tags

Six Flags Doing Great, Declares Bankruptcy

As we discussed back in March, the Six Flags amusement park chain has been in dire financial straits for a while, straining under more than $2 billion in debt. Efforts to restructure that debt proved fruitless, so the company is now seeking Chapter 11 bankruptcy protection. As the AP points out, operations at the company's 20 parks in the U.S., Canada, and Mexico won't be affected by the filing, but one has to wonder what kind of entity will emerge on the other side.

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Hawaii Superferry / Hawaii Travel / Ferry Travel / Environment / Recession / → All Tags

Bankruptcy Is The New Destination of The Hawaii Superferry

When we last heard about the Hawaii Superferry, it wasn’t up to much ferrying. Due to potential negative environmental impact, it was ordered to stay at dock until further assessments could be completed. But when you own a huge, expensive boat and it’s not carrying passengers day after day, bad things are bound to happen.

Thus, it was no surprise to learn that the company which runs the ferry filed for bankruptcy protection earlier this week, claiming that because it had to stop operations the money simply dried up. They’ve reported that they have between $50 and $100 million in debts, but only $10 million in assets at most. It doesn’t take someone like Ben Stein to figure out that economic math problem.

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Film Festivals / Free / Movie Travel / Recession / Screen on the Green / HBO / Facebook / Washington / → All Tags

The Recession Puts a Kibosh on DC's Outdoor Film Festival

Looks like free outdoor movies are joining music festivals on the list of things that won't live through the recession. HBO has announced that it's pulling the plug on DC's popular Screen on the Green series, which brings out thousands every summer for free classic movie screenings on the National Mall.

In what could be construed as a diss to DC, HBO will continue to sponsor this year's Bryant Park Film Festival, which is basically the exact same event, but in Manhattan, and kicks off with a showing of The Sting on June 15th. Given that DC already copes with a minor New York inferiority complex, Washingtonians are not happy, and nearly 2,000 of them have joined the Save Screen on the Green facebook page.

No word yet on whether Obama plans to bailout the film festival, but rumor has it The Kennedy Center is planning to step in with its own summer film series on their terrace level·also a picturesque spot, although considerably smaller than the Mall.

Related Stories:
· Screen on the Green Rescue Efforts Underway [DCist]
· Film Festivals coverage [Jaunted]
· Movie Travel coverage [Jaunted]

[Photo: voteprime]

Theme Parks / Amusement Parks / Theme Park Travel / Roller Coasters / Recession Travel / Recession / → All Tags

Six Flags on the Brink of Bankruptcy: Downgrade to Five Flags Possible

It's not just banks and homeowners that are in trouble these days. Even giant theme park operators are struggling as people curtail their leisure spending in the face of job losses and economic contractions. The latest victim is the Six Flags company, which is suffering under a staggering debt load of $2 billion and an environment in which more and more vacationers are slashing their budgets and staying close to home. The company's shares fell to a mere 16 cents on Friday, reflecting fears that the company would have to file for Chapter 11 bankruptcy protection. Six Flags is currently trying to restructure its debt, and is hoping that a three-year turnaround plan is able to bear fruit this season, but that remains to be seen as the U.S. remains mired in a recession.

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