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/business/china-amc-wanda-theater/index.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

[JD10367]

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

[BigRedChief]

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

[Okie_Apparition]

Brought to you buy America's #1 trade partner
That puts the antifreeze in your dog's food
the lead paint in your child's toy & drywall that kills

[Deberg_1990]

Sounds like the company will change very little.....

[Deberg_1990]

I remember when the Empire and Midland theaters showed movies back in the day.

I remember seeing Empire Strike Back opening weekend at the Midland back when i was 9. Good times....Back in those days big movies only played in 1 theater in the entire area.

I remember seeing some really cheesy stuff like Meteor play at the Empire. LOL

[petegz28]

I remember seeing Empire Strike Back opening weekend at the Midland back when i was 9. Good times....

I remember seeing some really cheesy stuff like Meteor play at the Empire. LOL

I saw Star Wars and Superman for the first time at the Empire. I remember when Empire Strikes Back was playing at the Midland, my Uncle, Cousin and I would go up in the balcony where you weren't allowed to sit and duck down and make all the noises and stuff in the movie and crack up at the people looking around like WTF is that?

[Chief Roundup]

It scares me about the future of this country, not just this one thing, but it seems like there has been a lot more of this nations earliest root type businesses that are now owned abroad.

[petegz28]

It scares me about the future of this country, not just this one thing, but it seems like there has been a lot more of this nations earliest root type businesses that are now owned abroad.

If they don't own the business outright they own just about everything the business sells.

[Jenson71]

It scares me about the future of this country, not just this one thing, but it seems like there has been a lot more of this nations earliest root type businesses that are now owned abroad.

This is globalization.

[Titty Meat]

This doesn't mean the end of AMC in Kansas City and there's only a few corporations that I can think of that are originally Kansas City. Hallmark being one of them.

[petegz28]

This doesn't mean the end of AMC in Kansas City and there's only a few corporations that I can think of that are originally Kansas City. Hallmark being one of them.

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

[Titty Meat]

Kansas City will continue to lose companies to Kansas as long as guys like Sly James and Kansas City voters continue to vote. I'm not saying that was the case with AMC though.

[petegz28]

Kansas City will continue to lose companies to Kansas as long as guys like Sly James and Kansas City voters continue to vote. I'm not saying that was the case with AMC though.

Actually I believe AMC was or is moving to OP.

[dirk digler]

This doesn't mean the end of AMC in Kansas City and there's only a few corporations that I can think of that are originally Kansas City. Hallmark being one of them.

AMC is building their new headquarters right off Nall.

[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.
Posted via Mobile Device

[AustinChief]

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]

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]

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/technology/symantec-dissolves-alliance-with-huawei-of-china.html

http://infosecisland.com/blogview/20826-Huawei-Symantec-Fear-of-Chinese-Espionage-Ends-Venture.html

[jiveturkey]

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/2012/05/24/3626569/amc-cordish-calling-it-quits-on.html

[Anyong Bluth]

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 clusterfuck we got handed by Wall St.

-- Sent from my Palm Pre using Forums (http://developer.palm.com/appredirect/?packageid=com.newnessdevelopments.forums)