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Some silly projects are sure to be built. In Long Beach, Calif., local and state officials bucked the orders from Washington. The city council unanimously approved a $620,000 skateboard-park renovation in a rough neighborhood, half-pipe and all. "It's an incredible opportunity," says local councilman Robert Garcia. "This is near and dear to my heart," noted California Senator Barbara Boxer on the Senate floor. Biden's staff has battled to kill the project behind the scenes, and the outcome is still unclear. Meanwhile, on other requests, Republicans quibbled with Biden's definition of prudent. Some $3.4 million...
Hong Kong Disneyland - the beleaguered park that has drawn underwhelming reviews for its thin lineup of attractions - needed a lifeline. On Tuesday it got one, when the Hong Kong government and Walt Disney executives reached a deal to expand Disney's second Asian theme park over the next five years in an attempt to boost sales and stand up to competitors. (See pictures of theme parks in China...
...hopes the expansion plan - which will add another 30 attractions and three new themed areas - will answer critics' complaints of overcrowding and boring rides. "Expanding Disneyland, or doing any other operational activity to increase what it currently offers, will be very important in keeping potential visitors attracted to the park and not losing appeal to competing attractions elsewhere," says Parita Chitakasem, a research manager with research group Euromonitor International. (See 10 things to do in Hong Kong...
...billion) of existing loans into equity. The government, meanwhile, says it won't inject any new capital into the expansion but will convert a substantial portion of its loans into equity. The Hong Kong government has already been the major financial driver, spending some $418 million on the park and another $1.8 billion on roads, sewers and a rail line to access it. Now, the government's majority stake will remain, but it will drop to 52%, from 57%. "Hong Kong Disneyland needs time to clean up its teething problems. Then profit will come," says Jeffrey Lam, a member...
...Disneyland Hong Kong opened to great fanfare in September 2005, bringing in some 5 million visitors within its first year, according to Euromonitor International. The original theme park was seen as a bold step by Disney to make inroads into China, while Hong Kong hoped it would secure its place as a major tourist destination in Asia. Since then, however, visitors have dropped and losses have grown for the company. Disneyland has struggled even against local theme parks like Ocean Park, which attracts a larger number of visitors with its cheaper entrance fees and larger size. "Disneyland is a good...