ENTERTAINMENT

Disney's Looking for That Reopening Magic

We’ve been as guilty as anyone in using the term “New Normal” to describe the resumption of daily life during the pandemic. But you have to admit it is the perfect phrase for today’s reopening of Walt Disney World in Orlando. 

• Disney World open = normal
• Disney World open but everyone’s in masks and you can’t hug Mickey = new normal. 

The details: Magic Kingdom and Animal Kingdom will reopen today, with Epcot and Hollywood Studios set to greet visitors July 15.

• Disney is actually not the first of the FL parks to come back. SeaWorld is open, and Universal’s three parks opened up June 5 with limited capacity.
• Disney has also reopened four theme parks in Asia.

The Dumbo in the room

If you think it’s an odd time to open up a theme park for thousands of strangers to mingle together, most wouldn’t disagree with you. COVID-19 cases have surged in Florida, where the park is located, and ICU beds are now at a premium. Health officials say the curve is not flat.

However, Disney thinks it can open the park in a safe way that protects staff and visitors. Its safety protocols, which have been signed by a union representing roughly 48,000 employees, call for mandatory mask wearing, thousands of hand-sanitation stations, empty seats on rides, and more.

The financial impact 

For Disney, opening up Disney World isn’t really something it wants rather than needs. The theme park’s contribution to the company’s top line is staggering:

• Media analyst Michael Nathanson told CNN Business that Disney World generated 16% of Disney’s total revenue in 2019—$11.2 billion.
• The broader theme parks segment is also an important profit-driver for the company, allowing it to invest in new products that may not make money right away.

Those new investments were a life-saver during the pandemic. We’re talking about Disney+, of course, which just enjoyed a Hamilton-sized weekend over the Fourth of July. 

Bottom line: Disney World is the sun breathing life into the entire Disney ecosystem. The company is desperate to get it open. 

FOOD

2020: The Year of the Boycott

Supermarket staple Goya Foods is facing loads of backlash and a boycott after its CEO Robert Unanue praised President Trump’s leadership in a joint appearance Thursday.

At a ceremony marking the president’s executive order to improve access to educational and economic opportunities for Hispanic Americans, Unanue said, “We’re all truly blessed at the same time to have a leader like President Trump who is a builder, and that’s what my grandfather did.” 

Many didn’t like the sound of a prominent Hispanic executive applauding a president with extremely aggressive anti-immigrant policies and rhetoric. Former Democratic presidential candidate Julián Castro criticized Unanue for “praising a president who villainizes and maliciously attacks Latinos for political gain.”

• On Fox News yesterday, Unanue didn’t apologize. He called the boycott “suppression of speech” and explained he’d pick up the phone for the president of the U.S. no matter who it is. 

Zoom out: Goya Foods is considered the country’s largest Hispanic-owned food company. It was started by Unanue’s grandfather, a Spanish immigrant, and remains a privately held company.

SPORTS

Step Right Up and Own the Mets

Would love to, but the line is getting a little long. 

The deadline for the first round of bids was due on Thursday, and once again billionaire hedge fund manager Steve Cohen’s name topped the list. On Thursday, Fox Business reported the Point72 founder offered $2 billion to the Wilpon family (the current owners) and another $2 billion for SNY, the regional sports network that airs Mets games.

• Cohen’s bid was smaller than his last attempt to buy the franchise. He offered $2.6 billion earlier this year, but walked away at the last minute.

Who’s his competition? None other than the punctuation power duo of A-Rod and J.Lo, says the NY Post. Worth a paltry $750 million combined, you might not think they’d be able to outbid the guy Billions is literally based on, but the couple is being plugged by, yes, another billionaire investor Vinny Viola. 

We should mention Philadelphia 76ers and New Jersey Devils owners Josh Harris and David Blitzer are also reportedly in the mix. 

Bottom line:

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AUTO

Electric Avenue Is Getting Crowded

Here are two more electric vehicle companies that you can casually name drop the next time someone brings up Elon Musk.

1. Rivian, the electric vehicle startup backed by Amazon and Ford, raised an additional $2.5 billion yesterday in a round led by T. Rowe Price. It already has a deal in place to provide 100,000 delivery vans for Amazon by 2021, but the funds will also support its goal to be the first automaker to bring an all-electric pickup truck to market.

2. Fisker, another young electric automaker, is reportedly in talks to go public via a “blank check acquisition company”—a bit of financial maneuvering where a startup inhabits a shell company that's already publicly listed. 

• Spartan Energy, the leading candidate to be Fisker's blank check company, jumped as much as 71% over two trading sessions, even though Fisker hasn’t actually committed to going public yet. 

But don’t forget about the big boy: One look at Tesla’s skyrocketing share price shows it's still squarely in the EV driver seat. It hopes to release its Cybertruck by late 2021.

SPORTS

If You’re Going to Take a Flying Knee to the Chest

You could do it in a worse place than Abu Dhabi’s tourist mecca, Yas Island.

Yas that is it’s real name, although the highly anticipated UFC series that starts today and runs through July 25 is being referred to as “Fight Island.” 

+ While we’re here: Listen to UFC President Dana White talk about the logistics of putting on a compelling event while keeping the 2,500+ UFC and Yas Island staff healthy. 

WHAT ELSE IS BREWING

• A bizarre Amazon story: Early in the day, it was reported that Amazon sent an email asking its employees to delete TikTok from their phones over "security risks." Later, Amazon said that email was sent in error.
• Gilead Sciences released additional data showing that its remdesivir coronavirus treatment may reduce the risk of death in severely ill patients.
• China’s H1 auto sales dropped 22.4% annually, said the China Association of Automobile Manufacturers.
• Tropical Storm Fay is pounding the Northeast this weekend. Stay safe. 

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BREW'S BETS

Busy is boring: especially for summer road trips. Find the least-traveled routes in America right here.

Weekend conversation starters:

• What’s the best TV show to play in the background while working?
• What do top chefs keep in their fridge? (Hint: It’s not truffle oil)
• Who’s the real villain in Shrek? How about The Great British Baking Show?

SATURDAY HEADLINES

No one cares what you wear when everyone is WFHing. But these headlines show that some apparel decisions are getting out of control. Three of these wonky stories are real while one is fake. Can you spot the knockoff? 

1. “Linkin Park t-shirts are all the rage in China”
2. “Sony’s wearable air conditioner is now available”
3. “Elon Musk releases Tesla ‘sexy’ satin short-shorts for $69.420”
4. “Warren Buffett releases his own line of denim shorts in reaction to Elon Musk surpassing him in net worth”

SATURDAY HEADLINES ANSWER

Elon really is worth more than Buffett now, but the legendary investor didn't release any shorts.