Business
Amid Reopening Disney Quietly Closed Attractions And Canceled Planned Overhauls – Forbes
The Disney parks around the world have started to reopen after being closed for months due to the coronavirus pandemic. Amid the reopening process Disney began to quietly close attractions and shows, cancel planned overhauls of attractions, and delay other reopenings across their sprawling properties. According to Disney’s second quarter earnings call on May 5, the company had $900 million worth of construction projects left for the rest of the fiscal year (ending September 26, 2020). That number is $400 million more on construction and refurbishment than in the 2019 fiscal year. The travel and tourism industry as a whole has suffered greatly through the closures of attractions. In fact, Disney’s theme park competitor Universal (part of the Comcast
CMCSA
family) lost 94 percent of their revenue in the second quarter. The theme park division generated a mere $87 million, which is down from $1.46 billion generated in the same period in 2019. The park operator has also paused work on their fourth Orlando gate Universal’s Epic Universe until the “future becomes more certain.”
During Disney’s park closures it’s estimated that the business lost an estimated $1 billion in operating income.. Almost half of the lost revenue was from the theme parks in the United States, the Walt Disney World Resort in Orlando, Florida, and the Disneyland Resort in Anaheim, California. According to Disney, their international parks and Disney Cruise Line operations accounted for the rest of the lost income.
Closed Permanently
Parks around the world have reopened except the Disneyland Resort and Hong Kong Disneyland, the later of which is on it’s second temporary closure due to an increase in coronavirus cases. Even with parks reopening and gaining back some income Disney has been going over projects currently in progress with a more critical eye for their budget. In fact, within the first week of reopening Walt Disney World announced they would be closing two attractions and one nighttime show at their parks.
At Magic Kingdom, Stitch’s Great Escape had not been operating as a show, but as a meet-and-greet to see the character from the animated movie Lilo and Stitch. Now the entire area is empty with no future plans for the space in Tomorrowland. Over at Disney’s Animal Kingdom Theme Park, Primeval Whirl, an off the shelf “Wild Mouse” carnival ride had been temporarily closed. This was due to lack of available replacement parts from the manufacturer, Reverchon Industries which filed for bankruptcy in 2008. Now Disney has decided to make the ride closure permanent. Disney’s Animal Kingdom Theme Park also lost their nighttime show Rivers of Light, which debuted in it’s original form in 2017, and had undergone an extensive refurbishment in 2019.
While not an attraction, Ample Hills Creamery, which had one store at Walt Disney World’s BoardWalk and one store in development at Disney Springs will not be open going forward. The trendy ice cream shop based in New York City filed for Chapter 11 bankruptcy, though a spokesperson for the company said back in March that the reasons for filing were unrelated to the pandemic. “Our agreement with Ample Hills Creamery ended earlier this year. As a result, Ample Hills will close at Disney’s BoardWalk and the proposed Ample Hills location at Disney Springs will not open later this year,” Disney said in a statement.
Disney’s Temporary Delays
Disney current construction schedule is filled with delays thanks a halt in building during the coronavirus closures. Bob Weis, president of Walt Disney Imagineering explained to D23.com, “We are still evaluating project timelines based on the extended closures we’ve experienced due to COVID-19. While several projects, like Avengers Campus—at both Disney California Adventure and Disneyland Paris—are able to surge forward based on where we were in development, there are others that will be picked back up in stages—like Mickey & Minnie’s Runaway Railway and TRON—and some that are longer-term that we will need more time to assess.”
Magic Kingdom’s newest TRON coaster attraction, based on TRON Lightcycle Power Run at Shanghai Disneyland was set to be open in time for the 50th anniversary of the park in 2021. That timeline could still happen, but work will need to resume quickly. At Epcot, Remy’s Ratatouille Adventure was nearing completion when Walt Disney World closed. Construction has picked back up on the attraction and expansion of the France pavilion at Epcot, but no opening date has been announced for the ride. The attraction is thought to be very similar in style to the original Ratatouille ride at Disneyland Paris, which cost $270 million USD when it opened in 2014.
Over at Disneyland Park and Disney California Adventure, construction has resumed on multiple projects. The $200,000 renovation of the Frontierland entrance, which was designed to improve a known pinch point of guests in the park has been picked back up. The larger project at the resort is Avengers Campus, which according to Weis is continuing to move forward because of where teams were in development. Avengers Campus was set to open July 18, but has since had a “coming soon” message across all of Disney’s platforms. Disneyland Park was set to get Mickey and Minnie’s Runaway Railway attraction, which recently opened at Walt Disney World’s Hollywood Studios. That project has since been placed on hold and will be picked up again when the time is right for the budget at Walt Disney Imagineering.
While not an attraction, the reopening of hotels at Walt Disney World is cause for some concern. Disney recently pushed back the reopening of four of its resort hotels. Disney’s Polynesian Village will open on October 4 and Disney’s Art of Animation Resort will open on November 1. Both resorts were originally set to open August 12. Disney Beach Club Resort was set to open August 24 and Disney’s BoardWalk Inn was to open on October 1, but Disney has announced that both will remain closed until further notice. This could mean that Disney isn’t seeing the interest from guests to travel and stay at a hotel, meaning that even fewer need to be open to accommodate visitors.
Disney Projects Delayed Indefinitely
Epcot was to be home to Walt Disney World’s most ambitious makeover since the park opened in 1982. While some projects like a new Guardians of the Galaxy coaster will move forward, two other projects have been delayed indefinitely.
Spaceship Earth, an attraction located inside the park’s iconic geodesic sphere, was set to get a massive upgrade as announced at the D23 Convention in 2019. The multimillion dollar upgrade was to start May 26 and be debuted in time for the 2021 50th anniversary celebration. This project has been delayed indefinitely by Disney, though not completely scrapped at this point.
The other Epcot project that has been delayed with no start date in sight is the installation of Cherry Tree Lane from Mary Poppins and Mary Poppins Returns in the United Kingdom pavilion. Cherry Tree Lane was to look just like the iconic street from the movies and even lead into an attraction. This project had not broken ground before the pandemic and was still in the development phase.
Seasonal Cancelations
Halloween and Christmas are big time money makers for Walt Disney World and Disneyland. This year both Mickey’s Not-So-Scary Halloween Party at Magic Kingdom Park and Oogie Boogie Bash at Disney California Adventure have been canceled. These parties bring thousands of people into the park each night, all of which pay over $100 a ticket for the special event. There is specialized merchandise, food, and drink available at the party, which increases the amount of money Disney puts in their pocket from the event each night.
Takeaway
Even with all of the closures Disney is sure to make up for the money lost in new ways, even if that is at the expense of guests in the form of increased ticket or hotel prices. Some of these projects will eventually be opened for visitors and help the theme park arm of The Walt Disney Company to rebound over the next few years. Other projects will be canceled completely to make room in the budget for more pressing matters. Either way the ripple effect of Disney’s cancelation and delays could be felt for years to come by theme park fans.
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Update August 3, 4:07 p.m.- According to Disney, Mickey and Minnie’s Runaway Railway construction at Disneyland Park will resume when the park reopens.
Business
Wildfire sparked by TC Energy pipeline rupture under control – Yahoo Canada Finance
CALGARY — A wildfire in west-central Alberta that was sparked by a natural gas pipeline rupture is under control, but an investigation into what caused the pipeline to break could take months or even years.
As of Wednesday morning, there was very little fire activity left in Yellowhead County, where a 10-hectare fire burned on Tuesday about 40 kilometres northwest of Edson.
“But for it to be considered extinguished, we’re going to have to hot spot,” said Caroline Charbonneau, area information co-ordinator with Alberta Forestry and Parks.
“That means we’ll have to dig into the ground, look and feel for hot spots, and then douse it with water. And that could take several days.”
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The fire on Tuesday, which occurred as much of Alberta is dealing with extremely dry early spring conditions, was sparked when a natural gas pipeline owned by TC Energy Corp. ruptured.
There were no injuries, and the fire was never a threat to any surrounding communities. The affected pipeline segment was isolated and shut in and there is no more gas leaking from the pipeline.
The Canada Energy Regulator had inspectors on site Wednesday to monitor the company’s response and the Transportation Safety Board is investigating the incident.
According to CER, there have been 12 natural gas pipeline ruptures in Canada since 2008, and Tuesday’s incident near Edson was the first rupture on that particular pipeline within that time period.
The 36-inch diameter pipe that ruptured is part of TC Energy’s NGTL pipeline system, which transports natural gas from Alberta and northeast B.C. to domestic and export markets. The system spans 24,631 kilometres and connects with TC Energy’s Canadian Mainline system, Foothills system and other third-party pipelines.
The NGTL pipeline system is like a web made up of different lines that have been developed in stages.
In 2022, there was a rupture on a separate part of the system that resulted in an explosion and fire near Fox Creek, Alta. There were no injuries.
A TSB investigation into that incident took more than 14 months, and concluded that the pipeline ruptured due to reduced pipe wall strength caused by external corrosion.
While the primary risk of a crude oil pipeline leak is an oil spill that harms the local ecosystem, natural gas pipeline ruptures can and do result in fires or explosions, said Bill Caram, executive director of the Pipeline Safety Trust, a U.S.-based non-profit organization.
“The chances are extremely high that a molecule of natural gas that enters a pipeline will go through that pipeline without a failure. Pipelines are quite safe, and when you look at incident rates compared to other modes of transportation like rail or truck, they are much less likely to have a failure,” Caram said.
“But what you don’t get a sense of by looking at the risks of pipelines in that way is how catastrophic a failure can be when it does happen.”
According to the TSB, there were 19 recorded incidences of fires related to pipelines in Canada between 2012 and 2022.
The TSB’s most recent report on pipeline transportation safety in Canada states that in 2022 there were 100 companies transporting either oil or gas or both in the federally regulated pipeline system, which includes approximately 19,950 km of oil pipelines and approximately 48,700 km of natural gas pipelines.
That year, there were 67 pipeline transportation accidents and incidents on federally regulated pipeline systems, according to the report.
That number was well below the 10-year average of 112 occurrences, and was also the lowest number of occurrences since 2019, when 52 pipeline accidents or incidents were recorded by the TSB.
The TSB defines a pipeline “accident” as an incident that results in a person being injured or killed, a fire or explosion, or significant damage to the pipeline affecting its operation.
Less severe pipeline events that involve the uncontrolled release of a commodity or a precautionary or emergency shutdown are classified by the TSB as “incidents.”
There have been no fatal accidents directly resulting from the operation of a federally regulated pipeline system since the inception of the TSB in 1990.
This report by The Canadian Press was first published April 17, 2024.
Companies in this story: (TSX:TRP)
Amanda Stephenson, The Canadian Press
Business
Pearson airport gold heist: Police announce 9 arrests – CTV News Toronto
Police say one former and one current employee of Air Canada are among the nine suspects that are facing charges in connection with the gold heist at Pearson International Airport last year.
At a news conference Wednesday on the one-year anniversary of the heist, police confirmed that five suspects were arrested and four others are facing charges in connection with the largest gold theft in Canadian history.
Police said the suspects face a total of 19 charges and Canada-wide warrants have been issued for the arrest of three of the suspects who have not yet been apprehended. All of the suspects arrested in connection with the heist have been released on bail, police confirmed in a news release issued Wednesday.
Peel Regional Police Chief Nishan Duraiappah said the heist was “carefully planned” by a “well-organized group of criminals.”
“This story is a sensational one and one which probably, we jokingly say, belongs in a Netflix series,” he said.
Police said 6,600 gold bars were stolen from Air Canada’s cargo facility on the evening of April 17, 2023 by a suspect who arrived at the warehouse in a five-tonne delivery truck.
The gold, along with about $2.5 million in foreign currency, had been shipped to Toronto from Zurich in the hull of an Air Canada plane and was offloaded to an Air Canada cargo facility shortly after the flight landed at Pearson Airport that afternoon.
Police allege that the suspect came into possession of the stolen gold and bank notes after presenting Air Canada personnel with a fraudulent airway bill.
“The airway bill was for a legitimate shipment of seafood that was picked up the day before,” Det.-Sgt. Mike Mavity, the major case manager for the joint investigation, dubbed Project 24K, told reporters on Wednesday.
“This duplicate airway bill was printed off from a printer within Air Canada cargo.”
Brinks Canada, which was hired to provide security and logistics services for the transportation of the shipment, showed up at the facility a few hours later to pick up the items, police said.
According to investigators, when Air Canada employees tried to locate the container, they realized it was missing and quickly launched an internal investigation. Police were notified about the stolen goods shortly before 3 a.m. the following day, Mavity said.
Air Canada launches probe
An exhaustive investigation followed, police said, with officers reviewing video surveillance footage from 225 businesses and residences in an effort to track the path of the truck, which has since been recovered.
Mavity said that last summer, they identified 25-year-old Durante King-McLean as the driver of the truck but were unable to locate him.
In September 2023, Mavity said King-McLean was stopped in rental vehicle by Pennsylvania State Police near Chambersburg, Pennsylvania.
“After a brief foot chase, he was detained and troopers located 65 illegal firearms in the vehicle,” Mavity said Wednesday.
According to Mavity, investigators believe that the stolen gold was melted down and sold and the proceeds were used to purchase illegal guns for a firearms trafficking operation.
He said members of Project 24K have been liaising with the U.S. Alcohol, Tobacco, and Firearms Bureau (ATF) with respect to this aspect of the investigation.
Speaking at the news conference on Wednesday, a representative from the ATF said the law enforcement agency believes the 65 guns seized during the arrest of King-McLean were bound for Canada.
While King-McLean is currently in custody in the United States, he is now wanted on multiple charges in connection with the gold theft.
“We are alleging that some individuals who participated in this gold theft are also involved in aspects of this firearms trafficking,” Mavity added.
Two “debt lists” were found by investigators at separate locations during the investigation, police said.
“A common term in drug trafficking investigations, we believe these lists actually show where the money was distributed when the gold was sold by the suspects,” Mavity said.
He said the names on both lists are “consistent” and police are trying to identify all of those identified.
‘They needed people inside Air Canada’
Police said one current Air Canada employee, identified as 54-year-old Brampton resident Parmpal Sidhu, has been charged with theft over $5,000 and conspiracy to commit an indictable offence. A Canada-wide warrant has been issued 31-year-old Simran Preet Panesar, who police said resigned from his position as a manager at Air Canada back in the summer.
“He has been known to us since early on in the investigation. He actually led a tour for Peel Regional Police before we knew his involvement,” Mavity said Wednesday.
He added that police have an idea where Panesar may be but did not elaborate on a possible location.
Mavity said he believes the suspects needed employees on the inside to carry out the heist.
“Because of their position within Air Canada, in my opinion, yeah they needed people inside Air Canada to facilitate this theft,” he said.
Business
Gas prices expected to rise 14 cents on Thursday
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Drivers are bracing for a double-digit spike at the gas pumps on Thursday, as the price is expected to rise 14 cents at midnight.
Roger McKnight, chief petroleum analyst withEn-Pro International Inc., tells CityNews the price at gas pumps is set to rise to 178.9 cents/litre at local stations. The price as of Wednesday is 164.9 cents/litre.
The last time gas prices were this high was back in August 2022.
McKnight says the spike is due to price increases for wholesale gas and only applies to gasoline. He adds the price for diesel will increase by 0.4 cents.
Earlier this month, the price rose to its highest levels in six months following the implementation of the federal carbon price, also referred to as the carbon tax.
That saw the carbon tax on gasoline go up by 3.3 cents per litre, while diesel increased by 4.1 cents per litre.
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