Word: euros
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...double blow to Disney management comes at a time when the company is wrestling with several nagging problems. The biggest is its theme parks, which account for 40% of the company's gross revenues. The Euro Disney park outside Paris, for instance, was losing so much money ($900 million in its first year alone) that it had to be rescued by a Saudi prince who agreed to invest $400 million in new equity. Even so, penny-pinching guests are still skimping on food, hotel rooms and merchandise, which is slowing Disney's plans in the area for offices, shopping centers...
...France the Euro-polls were supposed to sort things out for next year's race for a successor Socialist President Francois Mitterrand. On the left, a good showing from the Socialists led by former Prime Minister Michel Rocard, 63, would have sealed his claim as the "natural candidate." But they were humiliated with only 14.5% of the vote, their worst showing in 25 years, throwing the race for the party's nomination wide open. Possible wild cards include former Culture Minister Jack Lang and former Health Minister Bernard Kouchner...
...whose Socialists won only 32.2%. At the other end of the tally, Britain's conservative John Major lived fully down to expectations, as his Tories plunged to 27% of the popular vote, their worst showing ever. When the final total came in, the Conservatives had lost nearly half their Euro-seats, further weakening Major's grip on the party leadership...
...week ensures that at least one extra limousine will be needed at future summits: a resounding 66.4% of Austrian voters said yes to E.U. membership. The outcome, which had been in doubt, was a personal victory for Foreign Minister Alois Mock, who campaigned tirelessly for approval despite fragile health. Euro-enthusiastic Finns should give thumbs up Oct. 16. But Sweden's pro-E.U. forces remain outnumbered, and in Norway, the last to vote, on Nov. 28, opposition is at 52% and rising. Scandinavian Euro-boosters were hurt by last week's parliamentary results in Denmark, where anti...
...EURO DISNEY...