The end of a great KC company...

[petegz28]

China firm buys AMC to form world's largest cinema chain

http://www.cnn.com/2012/05/21/busine...html?hpt=hp_t3


AMC Theaters was one of the great KC based companies for decades. Founded by Stan Durwood who built the company from scratch and treated his employees lke family. My Dad worked for AMC for 34 years. He started at 15 taking tickets and sweeping floors and when he left the company 34 years later he was a Senior Exec. VP in charge of theater construction world wide. AMC paid for him go get both his bachelor's and master's degree.

Durwood was one of the original pioneers for the idea of the now P&L district. He loved KC and wanted to build up downtown. When companies were moving out of downtown he stayed put. When he passed away AMC took on a more typical corporate atomosphere but now it seems it has gone the way of the dragon.

I grew up with AMC. I remember when the Empire and Midland theaters showed movies back in the day. I know they will still be around in some form or another but it's just a little disheartening to see one of the KC companies like AMC now owned by foreign ownership

[Dr. Johnny Fever]

I was afraid this might be Boulevard. Whew.

[noa]

AMC was already owned by private equity firms with no ties to Kansas City. Like the private equity firms, the Chinese buyer is not going to move the company out of Kansas City.
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[AustinChief]

Originally Posted by petegz28

Hallmark, Sprint (though now in OP), Tension Envelope, DST, American Century

H&R Block, Faultless/Bon Ami, Black & Veatch...

[Okie_Apparition]

I wonder if Coke sales will drop
Dear does your Coke tasty xtra salty

[In58men]

Originally Posted by JD10367

Does this mean you'll be able to buy egg rolls at the concession stand?

I wish they had egg roll eating contests. I'm a sucker for a good roll.

[journeyscarab]

Remember in the 80's when the Japanese were buying up tons of American businesses, land, etc? People were worried about the impacts that would have on our country. Remember in the 90's when their economy crashed and hasn't fully recovered? This sucks for now but who knows how long their spending spree will last and if they can even hold on to AMC for more than a few years if their economy tanks.

Or I may be full of rice.

[Amnorix]

Originally Posted by BigRedChief

on a related note................. The Chinese own Symantec Anti-virus software. If you are still using it for virus protections, stop.

I'm not sure that's true. Apparently Symantec had a joint venture with a Chinese company, which the Chinese company controlled, but Symantec is divesting itself of that interest.

Even if it wasn't, however, that doesn't mean that a Chinese company "owned" Symantec itself. The question that remains unanswered, to me, is whether the antivirus product IS a product of that former joint venture (which is now going to be 100% Chinese owned.

http://www.nytimes.com/2012/03/27/te...-of-china.html

http://infosecisland.com/blogview/20...s-Venture.html

[jiveturkey]

Originally Posted by journeyscarab

Remember in the 80's when the Japanese were buying up tons of American businesses, land, etc? People were worried about the impacts that would have on our country. Remember in the 90's when their economy crashed and hasn't fully recovered? This sucks for now but who knows how long their spending spree will last and if they can even hold on to AMC for more than a few years if their economy tanks.

Or I may be full of rice.

The Japaneses comparison is exactly what I thought of when I first read some of the responses to this thread.

I'm not concerned and I'll continue to see movies at AMC theaters.

[gblowfish]

Well, if the Red Chinese own all our stuff, they probably won't nuke us.

[Deberg_1990]

AMC and Cordish getting a divorce now.....interesting.


http://www.kansascity.com/2012/05/24...-quits-on.html

[Anyong Bluth]

Originally Posted by journeyscarab

Remember in the 80's when the Japanese were buying up tons of American businesses, land, etc? People were worried about the impacts that would have on our country. Remember in the 90's when their economy crashed and hasn't fully recovered? This sucks for now but who knows how long their spending spree will last and if they can even hold on to AMC for more than a few years if their economy tanks.

Or I may be full of rice.

Ya, and people freaked out and on the news they showed a group of average Americans worried about the Japanese takeover of America huddled around in some vacant parking lot with a couple of Japanese made cars- each taking turns at them with sledgehammers.

Hell, MAD magazine did a back cover spoof that the fold over was a pic of the White House with the new placard on the outside gates saying something like under new management: property of Japan.

I'm sad AMC isn't keeping its KC roots / ownership. Just remember not all buyouts are wise investments and there will most likely be a shift that hits China and those other emerging markets bc no countries economy is bulletproof- I think we saw that here a few years ago and its gonna take probably another 10 years to hopefully right the cluster**** we got handed by Wall St.

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