Former Six Flags execs offer to save failing parks

Former Six Flags Inc. executives have offered to leave retirement to help save the beleaguered entertainment company. They claim that the company's value can be raised by up to $300 million. "We'd be willing to come back out of retirement and run it for a year or two," Larry Cochran, who left as chairman of Six Flags Theme Parks in 2000, told Reuters.

"To assist the debtor and its stakeholders, a group of us who as senior executives successfully built and operated the company in the 1970s and 1980s, would be willing to return to manage the company for $1 per year with such discretionary bonus compensation as the bankruptcy court or stakeholders might deem appropriate," said Jim Prager--former Six Flags vice president--in the letter.

In addition to Cochran and Prager, the filed request also lists former chief executive officer Dan Howells, and Joe Schillaci and Del Holland, former marketing and retail executives.

Both Six Flags representatives and Prager have declined to comment. [Routers]