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Disneyland Receives Final Approval For ‘Greatest Thing’ Since Its Opening.

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7 months ago

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Disney cleared a major hurdle to start developing a colossal expansion of its Disneyland theme parks on Tuesday night when the Anaheim city council unanimously gave final approval to rezoning much of the property.

Disney’s original resort in California, which comprises a shopping district, parking areas and two theme parks, is about 550 acres, which is less than 2% of the size of Walt Disney World in Florida.

However, with newly approved “multi-use” zoning, Disney can now expand its theme parks in Anaheim without acquiring any new land by building attractions where the company could previously only build hotels or parking lots. This paves the way for a multi-decade project to expand both of its theme parks there: Disneyland and Disney California Adventure.

“For nearly seven decades, Disneyland Resort has made a unique, irreplaceable impact on hundreds of millions of guests from around the world. How exciting to know our best days are still ahead – I can’t wait to show you what’s to come,” Disneyland Resort President Ken Potrock said in a statement Tuesday night.

The project, dubbed “DisneylandForward,” does not require any public funding. While no specific designs have been shared yet, Disney has released concept art for what the expansion could look like on the west side of the resort, in areas surrounding Disneyland Hotel and Pixar Place Hotel.

On Tuesday night, Disney passed a significant hurdle to begin creating a massive expansion of its Disneyland theme parks when the Anaheim city council overwhelmingly approved rezoning much of the property.

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Disneyland Receives Final Approval For ‘Greatest Thing’ Since Its Opening.

Disney’s first resort in California, which includes a commercial district, parking lots, and two theme parks, covers approximately 550 acres, less than 2% of the size of Walt Disney World in Florida.

However, with newly authorized “multi-use” zoning, Disney may now expand its theme parks in Anaheim without acquiring new land by creating attractions where the company could previously only build hotels or parking lots. This sets the door for a multi-decade project to develop both of its theme parks, Disneyland and Disney California Adventure.

“For nearly seven decades, Disneyland Resort has had an unforgettable influence on hundreds of millions of visitors worldwide. “How exciting to know that our best days are still ahead – I can’t wait to show you what’s to come,” Disneyland Resort President Ken Potrock said in a statement Tuesday night.

The project, known as “DisneylandForward,” does not require any public support. While no concrete designs have been revealed, Disney has produced concept images for the expansion on the west side of the resort, near the Disneyland Hotel and Pixar Place Hotel.

“This is decades overdue. This, in my opinion, is the most significant thing Disney has done since opening the gates in 1955,” said Dennis Speigel, owner and founder of International Theme Park Services, a global consultant for theme park developments.

Speigel, who is not involved in Disney’s plans, stated that this project could potentially increase Disneyland Resort’s annual visitor count from 25 million to 40 million over the next 20 years.

“You’re going from a two-room house to a five-room house,” Speigel said, adding that the extra space will make visitors more comfortable and increase per capita spending by allowing them to stay longer and experience more attractions.

At a shareholders’ meeting in April, Disney CEO Bob Iger stated that DisneylandForward’s potential new projects might include “the opportunity to embark on all-new Avatar adventures with a visit to the world of Pandora.”

The published concept art for a hypothetical Avatar land depicts a location similar to Pandora at Disney’s Animal Kingdom in Florida, but with tourists on boats in the center of an open lake, reminiscent of the franchise’s second feature, “The Way of Water.”

In a January video, Rachel Alde, Disney Experiences’ senior VP of global development, stated that a 1990s agreement with the city of Anaheim allowed Disney to build 6.8 million square feet of theme park space, but the company has only built 46% of that due to space and zoning restrictions.

“Imagine what we could do with this space.” Currently, there are only surface parking lots. What if we could become the first land-based on Wakanda from the Black Panther franchise? A Zootopia-themed land that builds on the work you saw before at Shanghai Disney Resort. The creation of Arendelle from Frozen is comparable to what you witnessed in our three worldwide parks. Or even the ability to celebrate Dia de los Muertos in a Coco-themed area that reflects the diverse community in Southern California.”

Don Ballard, an author and historian who wrote a book about the ancient Disneyland Hotel, believes the company’s original resort is “ever-evolving.” I mean, technology changes and people’s tastes shift.”

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Disneyland Receives Final Approval For ‘Greatest Thing’ Since Its Opening.

Ballard cited Walt Disney’s famous quote: “Disneyland will never be completed.” It will continue to expand for as long as imagination exists in the world.

Todd James Pierce, a Cal Poly San Luis Obispo professor who published the book “Three Years in Wonderland” about the creation of Disneyland, stated that “When Walt was alive, almost every year there was a new attraction, if not multiple new attractions.” He took one hiatus around the World’s Fair since he was busy doing other things. This allows the Disneyland Resort to expand significantly. So if people are fans, there will be something fresh only a short time from now, every year, or every couple of years.

Pierce stated that their chosen concept art is noteworthy because “none of these things are standalone attractions. They’re all 8—to 12-acre themed areas centered on one or more [stories], such as a whole Frozen region.

Ballard and Pierce agree that, in addition to being inventive, the new idea will be useful in reducing overcrowding at the right resort.

Ballard, who proposed to his wife at Disneyland, quipped, “It was just me and 80,000 of my closest friends.” And I proposed to her in front of the castle, and four girls behind her said ‘yes.‘”

Pierce stated that opening new lands allows Disney to close existing attractions more easily for redevelopment because passengers can spread out and are not pressed into tight crowds.

Disney theme parks worldwide are known for creating an immersive environment in which visitors leave the “real” world for something fanciful. To do so, one must enter a “Disney bubble,” as fans refer to it, which shields one from the outer world.

However, this proposal will face challenges because some of the properties that could be renovated are separate from the main Disneyland Resort campus. Disney has revealed in concept art that a section of land on the east side, currently used as the Toy Story surface parking lot, may be converted into a mixed-use hotel, restaurant, and shopping complex akin to Disney Springs in Florida.

Pierce explained that getting from the big theme parks to this retail area entails crossing city streets lined with 7-Elevens and CVS drugstores.

The difficulty lies “not in doing what they do really well, which is build themed environments, but figuring out how to connect up this patchwork of property that they’ll now control,” Pierce stated. “Elevated walkways, a people mover system or a Skyliner system (the elevated gondolas), something like that…is probably going to be necessary, otherwise the vacation experience becomes fragmented.”

According to Anaheim’s chief communications officer, Mike Lyster, the DisneylandForward project includes authority for pedestrian bridges over city streets, but anything else would require separate city approval.

Another challenge is ensuring there is ample parking. Disney would be forced to create additional parking facilities elsewhere on the resort grounds by potentially developing theme park lands on top of existing parking lots. Disney has stated that it plans to create a new parking facility on the resort’s east side, including one to three pedestrian bridges and improved entrance accessibility for hotels and businesses along Harbor Boulevard.

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Disneyland Receives Final Approval For ‘Greatest Thing’ Since Its Opening.

Tuesday’s rezoning approval will take effect in 30 days. Next, Disney and the city of Anaheim will attempt to finalize a development agreement that will last until 2064.

“This is a significant milestone for the city. “We’re looking at a unique opportunity not only for Anaheim but for the entire state of California,” said Anaheim Mayor Ashleigh Aitken.

Proposed agreements include Disney committing $1.9 billion to the project over the first ten years, $40 million to take over two city-owned streets, $45 million for transportation improvements, $8 million for city parks, and $30 million for affordable housing.

Speigel predicts the corporation would spend over $3 billion, exceeding its initial investment promise.

This expansion initiative follows the company’s previously stated $60 billion investment in its parks and cruises across the world over the next ten years.

According to Aitken, more than half of Anaheim’s general fund comes from tourism revenue. So, the initiative would improve the guest experience and result in significant investment in the city.

She also stated she has been one of the “fiercest critics” of resort area growth, fighting city subsidies and securing construction and hospitality union backing for the initiative.

“And I’m comfortable that the Disneyland team has answered a lot of those concerns.”

Aitken stated that the resulting idea is carefully thought out and a “win-win” for everyone.

SOURCE – (AP)

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Forced Sale Google Chrome Could Fetch $20 Billion

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7 hours ago

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2024-11-21

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Sale Google Chrome

Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.

Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.

Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.

Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.

AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.

“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”

Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.

The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.

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Bitcoin Has Set a New Record And Is Approaching $100,000.

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15 hours ago

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2024-11-21

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(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.

According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.

When the period began, Bitcoin peaked at $98,367.00.

During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.

The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.

Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.

The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.

Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.

Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.

According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.

Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.

Ginsberg stated this in reference to the evolution of Bitcoin over time.

Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.

He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”

The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.

This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.

The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.

The price of bitcoin had risen by more than 130% by the beginning of 2024.

SOUREC: CNBC

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Target Struggles in the Third Quarter: Offers Tempered Holiday Outlook and Price Cuts

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1 day ago

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2024-11-20

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(VOR News) – Target experienced a modest rise in sales during the third quarter; nevertheless, profitability declined due to reduced customer spending attributed to inflation and adverse effects from the ongoing costs associated with the October dockworker strike.

Despite ongoing consumer expenditure in the United States, but with more prudence, the Minneapolis retailer did not meet Wall Street’s forecasts for the quarter and similarly disappointed industry analysts with its projections for the final quarter of the year.

Target’s reduction in prices for Christmas products, including a Thanksgiving promotion that lowered the cost of the holiday feast relative to last year’s total, raises concerns about disappointing quarterly results.

Target’s latest quarter sharply contrasts with competitor Walmart, which reported another quarter of exceptional revenues on Tuesday and provided positive forecasts for the forthcoming holiday season. Amazon disclosed last month that its quarterly profits had risen. Amazon surpassed projections with an 11% rise in quarterly revenue.

Target fell over 21% on Wednesday morning.

Chairman and CEO Brian Cornell stated, “We encountered distinct challenges and financial constraints that impacted our overall performance.”

FactSet reports that Target’s net income for the quarter ended November 2 was $854 million, or $1.85 per share, markedly below the anticipated $2.30 and a decline from $971 million, or $2.10 per share, in the same quarter of the previous year.

Despite an increase in sales to $25.67 billion from $25.4 billion the previous year, they fell short of Wall Street’s projections.

Target announced that for the fiscal fourth quarter, it anticipates earnings per share to fall between $1.85 to $2.45. This amount is below the $2.65 per share forecast by analysts surveyed by FactSet.

The retailer announced that in the third quarter, its comparable sales, derived from stores and digital platforms operational for a minimum of one year, increased by 0.3%.

This is inferior to the second quarter’s 2% growth. Several months of decreases, comprising a 3.7% reduction in the first quarter and a 4.4% reduction in the company’s final quarter of 2023, were counterbalanced by the rise in the April–June period.

Cosmetics sales rose by almost 6%, whilst food, beverages, and necessities such as shampoo experienced gains in the low single digits relative to the previous year.

The positive attributes were negligible. Target’s quarterly customer traffic rose by 2.4%. Target officials report that this represents an increase of 10 million sales transactions compared to the previous year. Digital comparable sales rose by 10.8% due to a 20% enhancement in same-day delivery facilitated by the Target Circle loyalty program and double-digit growth in its drive-up service.

Target encountered several challenges.

Target’s food and beverage sales constitute under 25% of overall sales, indicating a greater dependence on luxury items such as apparel and accessories.

Target management acknowledged that the company, similar to other retailers, had to redirect specific items due to the strike of 45,000 dockworkers, the first occurrence since 1977.

The accumulation of commodities in warehouses escalated operational expenses and diminished corporate earnings.

The commitment by President-elect Donald Trump to impose elevated import tariffs is resulting in difficulties for Target and other enterprises. Trump advocates for a 60% tariff on Chinese imports and a 20% levy on all other products. Cornell stated that, despite monitoring trends meticulously, the corporation has prioritized diversifying its supplier network.

“Currently, there exists considerable uncertainty regarding future developments, and we will exercise our flexibility to adapt as necessary,” he stated on the call.

Buyers remain apprehensive due to ongoing uncertainty, as prices, albeit decreasing, remain elevated compared to a few years prior.

“They are exhibiting significant patience, pursuing promotions and outstanding value on essential pantry items,” Cornell stated during a conference call with reporters. “Over the year, they have consistently focused on discretionary categories and are practicing prudent shopping behaviors.”

Target officials indicated a decline in television purchases, although they expressed interest in incorporating candles, frames, and flowers into their home décor.

Target has been reducing prices to boost sales. Last spring, it reduced costs for numerous essentials, including milk and diapers. Almost fifty percent of the numerous goods offered this Christmas are priced below $20. Target is offering a Thanksgiving dinner bundle for four people at $20, which is $5 less than its 2023 Thanksgiving meal package.

SOURCE: USN

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