Amusement
The Anaheim City Council voted 3-2 to extend by 30 years an admission ticket tax exemption for Disneyland and Disney California Adventure. Disney has agreed in exchange to spend a minimum of $1 billion to add park features and a parking structure by 2024. Opponents of the exemption, including Mayor Tom Tait, said it would financially limit the city in the event of an economic downturn. Proponents said the exemption for the two parks, which draw about 25 million visitors a year, would benefit the city’s economy.
Apparel
Asics America Corp. in Irvine ended its retail operating agreement with Windsor Financial Group LLC and said it anticipated the former licensee will shutter its 13 stores in response, including the Fashion Island location in Newport Beach. The footwear and apparel company, part of Japan-based Asics Corp., said the 3-year-old agreement, “was terminated following material breaches” by New York-based Windsor but didn’t elaborate. Windsor said it was “disappointed” and that Asics had “abruptly undermined its efforts to continue Asics’ development.” Asics sells most of its merchandise through more than 1,000 wholesale customers (see related story, page 3).
Real Estate
Aliso Viejo-based Five Point Holdings Inc. said it’s planning an initial public offering. The developer of Great Park Neighborhoods in Irvine and other master-planned communities in California said it filed a draft registration statement with the Securities and Exchange Commission for “a possible” initial public offering of its common stock. Details, such as a price range or the number of shares to be sold, hadn’t been determined, Five Point said. Emile Haddad, chief executive of FivePoint Communities Management Inc., would serve as chairman and chief executive of the holding company (see related OC Insider item, page 3).
Restaurants
Irvine-based Taco Bell Corp. said it planned to start delivery service from 200 stores in Orange County, Los Angeles, the San Francisco Bay Area and Dallas. It will use the DoorDash service, which customers can access via the Palo Alto-based company’s app or website. DoorDash places the orders at the customer’s local Taco Bell and delivers them to home or office. The service will cost $3.99.
Other
The Orange County Visitors Association produced a cultural training video to help workers in the hospitality and retail industries “bridge cultural differences and ensure that Middle Eastern visitors have an exceptional experience” in Orange County. The free “Welcoming Our Middle Eastern Guests to Orange County,” posted on the association’s YouTube channel, was sponsored by Fashion Island in Newport Beach, the Irvine Spectrum Center and Macy’s Inc. It teaches etiquette for communicating and interacting with visitors from the Middle East and provides an overview of Islam as an influence in Middle Eastern culture.
