Q Investments threatens second meeting!

Q Investments said Thursday that it may call for another special meeting of Cedar Fair unitholders if a resolution to making paying cash distributions a higher priority fails to pass.

The Texas investment firm forced a special meeting on Tuesday to consider two proposals.

One proposal, to appoint a new chairman of the board with no prior ties to Cedar Fair, received so many votes that the current chairman, Dick Kinzel, announced that it appears to have passed.

Please read the complete article here: http://www.sanduskyregister.com/news/2011/jan/13/qbully011410smxml

Kinzel Voted Out As Chairman

This morning the unitholders of Cedar Fair successfully voted to remove Dick Kinzel, current CEO and Chairman of the Board, from his position as Chairman of the Board. The vote was to split to the two positions to ensure one person can not be in both positions. The new chairman is not permitted to have any ties with Cedar Fair. Many investors have been unhappy with Kinzel’s performance due to the closure of Geauga Lake, purchase of Paramount Parks, trying to sell the company to Apollo Management, and general disrespect for unit holders by canceling a meeting with extremely short notice. This measure was expected to pass.

A second vote also took place to change the financial goals of Cedar Fair to increase the dividend instead of being focused on paying down the debt. This vote remains too close to call at this time. This measure has brought out the different mindsets of the variety of investors in Cedar Fair, such as Q Funding who wish to see the short term goal of increased dividend, compared to those interested in the better long term goal of eliminating the debt.

Kinzel is expected to remain as CEO until his retirement in early 2012.

For more information and to join the discussion, please visit http://www.cpforums.com.

Gift Shop

The Cedar Point Coliseum, built in 1906, still stands at Cedar Point.

Merry Christmas from The Point Online! Give the gift of Cedar Point this Christmas with authentic Cedar Point postcards from the early 1900s during the Boeckling Era.

Authentic Cedar Point Historic Postcard$10 – Sold and shipped through The Point Online, these postcards are authentic and give a glimpse into the past at Cedar Point. Most postcards are from the 1900s to 1930s. Postcards are all in good condition, may be used or unused, and feature recognizable landmarks at Cedar Point such as the beach, pier, or buildings. LIMITED QUANTITIES AVAILABLE – Order before our supply sells out!

Cedar Point Images of America – In 1870, Louis Zistel began ferrying passengers from Sandusky to the Cedar Point Peninsula’s beer garden and sandy beaches. In 1888, the Grand Pavilion was built, housing a massive theatre, bowling alley, photographic studio, and kitchen, and shortly thereafter, the resort’s first roller coaster was installed. George Boeckling transformed the resort into a self-sufficient city and amusement park, but the park suffered badly in the 1930s economic depression. However, after Cedar Point changed hands several times in the 1950s, it became one of America’s leading amusement parks. Today, the park is best known as the world’s largest amusement park and the “Roller Coaster Capital of the World.” Purchase on Amazon.com.

Experience The Point: Unofficial Guidebook to Cedar Point – Cedar Point Amusement Resort is quickly becoming one of the Midwests most popular destinations. With over 75 rides, show, and attractions, two waterparks, four hotels, and a campground what used to be a small park has turned into a multi-day resort. Experience The Point: Unofficial Guidebook to Cedar Point 3rd Edition provides every little detail needed to plan a successful trip to Cedar Point. Completely updated and redesign from previous editions, the 3rd edition features tips, money-saving secrets, and information on every ride attraction and much, much more. Purchase on Amazon.com.

Cedar Point: Queen of American Watering Places – The most extensive look at Cedar Point’s history, this book takes a look at the historic ups and downs of Cedar Point starting in 1870. Purchase on Amazon.com.

Roller Coasters in the RAW – Roller Coasters in the RAW! No cheesy music! No annoying commentary! No silly antics! JUST ROLLER COASTER FOOTAGE …RAW!!! This 2-Disc DVD includes professionaly filmed front seat POV (point of view) of 30 roller coasters including: Maverick, El Toro, Tatsu, The Voyage, Renegade, Boardwalk Bullet, Kingda Ka, Troy, SheiKra, Kentucky Rumbler, Balder, and MORE! Purchase on Amazon.com.

Save at Indoor Water Parks this Winter!

Save this winter at the indoor water parks in Sandusky! Don’t get stuck in the cold this winter, take a vacation to an indoor water park and enjoy the slides while it could be snowing outside!

The Point Online continues to negotiate with the hotels in Sandusky to obtain the lowest rate possible for our readers. We currently are able to accept reservations to Great Wolf Lodge and Rain Water Park.

Great Wolf Lodge offers rooms starting at $139.53. At Ohio’s first indoor water park, families will enjoy a rustic setting throughout the entire resort. The indoor water park is a constant 84 degrees and features a four-story interactive water fort, water slides, lazy river, activity pool, a hot tub, and more. The resort also features several restaurants, stores, and offers great kids activities throughout the day. Great Wolf Lodge’s Indoor Water Park is open year-round. For more information, view Great Wolf Lodge on our Travel Reservation System.

Rain Water Park is located at the Quality Inn and Suites entertainment complex. This complex features Rain Water Park, bowling, laser tag, arcade, and popular Thirsty Pony restaurant. Rain Water Park is open only Friday, Saturday, and Sunday. For more information, view Quality Inn and Suites on our Travel Reservation System.

For a complete search of available hotels, start your search in the box on the right of this screen or call 1-800-780-5733 and use Promo Code 92407.

If you have questions, please contact mike@thepointol.com.

New in 2011 – WindSeeker

WindSeekerCedar Point has announced that it will introduce WindSeeker, a 30-story-tall swing ride to the Sandusky, Ohio, amusement park/resort for next summer. WindSeeker will tower above everything around its location on the beach, rising almost as high as the Millennium Force roller coaster’s giant first hill.

In the early 1900s, the Cedar Point Beach was a hub of activity as families played in the sand or frolicked in the lake. One of its most popular attractions was the Sea Swings that would dip riders into the cool waters of Lake Erie as it spun in a circular motion.

Now 100 years later, Cedar Point will add a 21st century version of that thrilling ride to the park for next summer.

The new WindSeeker will be a 301-foot-tall tower that will spin riders nearly 30 stories above the Lake Erie shoreline. Seated in two-person swings that will allow their feet to dangle, riders will slowly begin rotating in a circular motion as the swings ascend the tower. At the top, the swings will be reaching speeds between 25-30 mph, flaring out almost 45 degrees from the tower. WindSeeker will be able to accommodate 64 riders (32 swings) at one time.

“Spinning almost 300 feet above Lake Erie and the Cedar Point Beach will be a very exciting ride experience for our guests,” said John Hildebrandt, the vice president and general manager of Cedar Point. “Day or night, WindSeeker will provide riders with dramatic views of the park and the Cedar Point Peninsula. It will be an extremely popular addition to Cedar Point.”

WindSeeker will be positioned near the present location of the Ocean Motion swinging boat ride and will extend the park’s midway onto the Cedar Point Beach. At the end of the season, Ocean Motion, built in 1981, will be dismantled. It is currently available for sale.

In comparison to other Cedar Point rides, WindSeeker will climb nearly two stories higher than the cabin on the park’s Space Spiral observation ride and is only a few feet shorter than the first hill on Millennium Force. Another swing ride, the Wave Swinger that opened in Frontiertown in 1979, is 31 feet tall and has a top speed of approximately 9 mph.

The ride is manufactured by Mondial, a 23-year-old Dutch-based company. WindSeeker will cost approximately $5 million to build. Riders must be at least 48 inches tall and will be secured with individual over-the-head lap bars with interlocking seat belt.

Overall, Cedar Point will add more than $6 million in capital improvements to the park for 2011.

A Cedar Point Press Release

Cedar Fair CEO Kinzel sues Merrill Lynch, Bank of America

Cedar Fair CEO Dick Kinzel and his wife, Judy Kinzel, have filed a $30 million federal lawsuit against Merrill Lynch and the brokerage company’s new owner, Bank of America, accusing the companies of ripping them off.

The Kinzels say the companies were failing financially and were desperate to raise cash in any possible way.

The lawsuit, filed in recent weeks in U.S. District Court Northern District, alleges Merrill Lynch in March 2009 sold 167,900 Cedar Fair units the Kinzels owned in their private account.

Please read the complete article at the Sandusky Register.