Six Flags Income Statement	2007	2006	2005	2004	2003
Revenue	972,780	945,665	956,757	879,586	883,089
Operating Expenses	757,617	736,248	666,832	613,648	592,555
Depreciation & Amortization	138,787	132,295	127,658	125,374	119,715
Loss on Fixed Assets	43,062	27,057	13,906	11,676	-301
Income from Operations	33,314	50,065	148,361	128,888	171,120
Other Expenses
Interest Expense	199,022	199,991	183,547	191,563	213,565
Minority Interest in Earnings	39,684	40,223	39,794	37,686	35,997
Other Expenses	12,367	948	19,303	37,731	27,592
Net loss on debt extinguishment	20,122	11,560	10,877	14,356	626
Taxable Income	-237,881	-202,657	-105,160	-152,448	-106,660
Income Tax Expense	6,203	4,318	3,705	24,442	-34,660
Net Income before discontinued operations	-244,084	-206,975	-108,865	-176,890	-72,000
Discontinued Operations	-9,075	-97,605	-2,073	-287,919	10,287
Cumulative Effect of a change in accounting principle			-1,038
Net Income	-253,159	-304,580	-111,976	-464,809	-61,713

Payments Due by Period
	2008	2009-2011	2012-2014	2015 & beyond	Total
Long Term Debt	18,715	309,157	863,665	1,066,251	2,257,788
Preferred Stock	0	287,500	0	0	287,500
Interest & Preferred dividends	211,656	536,647	382,299	24,238	1,154,840
Real estate & operating leases	11,059	29,468	26,867	182,605	249,999
Purchase oblications*	119,990	9,900	9,900	0	139,790
Total	361,420	1,172,672	1,282,731	1,273,094	4,089,917
* Purchase obligations are mostly capex items for the individual parks
Note - the firm is required to redeem its Preferred Shares on 8/15/2009

Balance Sheet	2007	2006	2005	2004	2003
Cash & Equivalents	28,388	24,295	80,510	67,764	96,879
Total Assets	2,945,319	3,187,616	3,491,922	3,641,031	4,681,574
Long Term Debt	2,239,073	2,126,888	2,128,756	2,125,121	2,354,194
Total Debt	2,257,788	2,240,947	2,242,357	2,149,515	2,373,205
Redeemable Minority Interests	415,350	418,145	418,951	418,951	418,951
Preferred Stock	285,623	284,497	283,371	282,245	281,119
Stockholders Equity (deficit)	-252,620	-6,213	314,259	449,216	986,972

1/ what is the sustainable level of debt?

2/ What course of action do you recommend?

(Please explain as more as you can = high rating) Thank you!