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Disneyland’s record-breaking regular shares his wisdom from nearly 3,000 park visits in a row | CNN

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Disneyland’s record-breaking regular shares his wisdom from nearly 3,000 park visits in a row | CNN



CNN
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There are Disney Park regulars, after which there’s Jeff Reitz. The 50-year-old California native visited Disneyland day-after-day for two,995 days between 2012 and March 2020, incomes him a shiny new Guinness World Document for many consecutive journeys to the theme park.

Reitz journey began a decade in the past when he discovered himself with a Disneyland annual move and, resulting from being not too long ago unemployed, a bunch of unanticipated free time. One go to was one other, and fairly quickly he was documenting his day by day sojourns to 1000’s of followers underneath the social media deal with Disney366 – a nod to the variety of days in 2012, a intercalary year.

His visits had been curtailed by the pandemic in early 2020, however historical past had already been made. (In any case, one doesn’t simply hang-out the identical place day-after-day for eight years and never turn into one thing of a celeb.) Researchers at Guinness came upon about Reitz’s feat, and not too long ago contacted him in regards to the creation of a brand new file.

Reitz talked to CNN about his favourite moments within the park, and what made the expertise one thing value returning for, day after day.

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Reitz has a historical past with Disneyland. The park already felt like an outdated buddy by the point he began his streak in 2012. “I grew up in Huntington Seashore, and my household used to come back a number of instances a yr,” he tells CNN.

“It’s a pleasant place to stroll round and chat with folks. The park actually is alive. I’ve obtained to see so many issues change.”

Plus, the associated fee was pretty low, particularly by Disney requirements.

“One criticism I get is folks saying, ‘Oh, that should have value a lot cash.’ I reside about 20 minutes away, and with an annual move that additionally covers parking, a yr of day by day visits prices about $1,400. It’s lots, nevertheless it’s not what folks suppose.”

Even when Reitz returned to work, he made a day by day journey from his job to Disneyland, after which house once more.

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“A part of what made it enjoyable was I attempted to combine issues up and do issues otherwise every time,” he says. “The one constant factor was, I’d put up a check-in on social media, and attempt to put up one picture of the park per day.”

Again in 2012, Instagram wasn’t fairly the cultural big it’s now, and smartphones weren’t practically as good. As a substitute, Reitz captured the primary few years of his go to on a BlackBerry Daring 9700.

Reitz’s favourite vacation spot in Disneyland is the Matterhorn Bobsleds, a pair of metal curler coasters twining via an Alpine panorama made to resemble the famously precipitous peak.

“It’s been my favourite attraction since I used to be little,” he says.

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Nevertheless, the 2019 opening of Star Wars: Galaxy’s Edge, a posh within the park with a number of completely different rides and sights, launched an in depth second.

Any Disney fan will know that an attraction isn’t simply an attraction – it’s an expertise. One may feasibly sit all day with out driving a single trip and nonetheless benefit from the environment.

“There’s an space by the boat docks throughout from the Matterhorn the place I wish to calm down after I go to,” Reitz says. “Generally, I’ll go into Galaxy’s Edge and take heed to the background sounds and the music. Or I’ll climb the Adventureland Treehouse for a pleasant view.”

As for sustenance, Disney Park meals doesn’t come low-cost or simple. Reitz found out a dependable go-to: pasta from the Pizza Port restaurant within the park’s Tomorrowland part.

Whereas thrill rides and carbs can definitely be nice incentives, they weren’t the rationale Reitz returned to the park day after day.

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“It’s all the time been the solid members that make the magic, not the place itself,” he says. As years handed and he turned a bona fide Disneyland common, he collected tales and secrets and techniques from the Disney Parks workers, who’re known as solid members.

Jeff Reitz takes a selfie with Disneyland cast member Dani Decena in Star Wars: Galaxy's Edge in 2020. It was Reitz's 2,995th consecutive day visiting Disneyland.

One solid member who was once a park set painter informed Reitz about little easter eggs the artists had enjoyable with, like a bin within the park’s “ghost city” of Frontierland that he would often repaint with completely different inhabitants numbers.

In 2013, when Reitz observed a big tree close to the park exit was lacking, a solid member informed him she may inform one in every of two tales about it.

“She stated the lifelike one was that the tree, which was very outdated, had turn into diseased and needed to be taken down. The texture-good story, she stated, was that there have been some bushes that had been planted when Walt [Disney] first opened the park, they usually had been merely moved to a different location.”

A while later, whereas passing a nook of the Soarin’ attraction at Disney’s California Journey (the neighboring park to Disneyland, which Reitz typically additionally visited), he spied a tree he hadn’t seen earlier than. It appeared suspiciously acquainted.

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“Was it the identical tree? Who is aware of if it’s true. Nevertheless it’s that sort of magic they will spin.”

Instances have modified, and swanning out and in of Disneyland isn’t as simple because it was once. Because of the pandemic, Disneyland now operates on an admission reservation system that successfully limits when friends can come to the park. Whereas it makes frequent visits troublesome, it additionally ensures Reitz’s file gained’t be challenged – at the very least not for some time.

Till then, there are scads of recent sights for Reitz to find, just like the park’s new Avengers campus.

“After being out of the park for 3 years, going again is an opportunity for me to have an eye-opening expertise,” Reitz says. “It’s nearly going to be like beginning over, and that’s thrilling. (Walt) Disney himself as soon as stated, ‘Disneyland won’t ever be accomplished. It’ll proceed to develop so long as there may be creativeness left on the earth.’”

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US retailers stretch out Black Friday deals to lure flagging shoppers

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US retailers stretch out Black Friday deals to lure flagging shoppers

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US retailers are extending their one-day seasonal Black Friday discount offers into a sales event lasting weeks in a bid to tempt US consumers to keep spending, as data suggests that their spree which has driven economic growth is beginning to falter.

Walmart, Amazon, Target and Macy’s are among the US retailers already offering deep discounts under the banner of Black Friday, long before it actually arrives this week.

Despite this, general merchandise unit sales were down 3 per cent year-on-year in the week ending 16 November according to data from Circana, which compiles retail point-of-sale data.

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The National Retail Federation forecasts that winter holiday sales will reach almost $1tn in the US in November and December, a record $902 a head. But the rate of spending growth is expected to be about 2.5-3.5 per cent, the slowest since 2018.

“We’re seeing this drag-out of incentives to try to widen the window within which [retailers] can draw more consumers,” said Gregory Daco, chief economist at adviser EY Parthenon. “The likely reality in this holiday season is that we see fairly subdued sales because volumes are growing, but at a moderate pace — and [retailers have] much less pricing power.”

Retailers were “incentivising via discounts and different forms of promotions” for those at the lower end of the income spectrum while also “trying to grab higher-income individuals to make purchases during this wider window”, he said.

Although headline inflation has ebbed from the historic highs of the past couple of years, consumers “remain extremely frustrated by the persistence of high prices”, the University of Michigan said this week in a monthly survey.

Consumer spending has been the main driver of America’s robust economic growth in recent months. But consumer confidence is still well below the long-run average, sentiment surveys show.

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The prospect of a fresh round of tariffs under Donald Trump’s incoming presidency raises the risk that inflation could take off again, economists have warned — posing a fresh drag on sentiment.

“Donald Trump’s return to the White House with a Republican majority [probably leads] to higher inflation, slower GDP growth and increased budget deficits,” Roland Fumasi, food and agribusiness analyst at Rabobank, said in a note.

If Trump increases tariffs, that would “lead to a rebound in inflation and a slowdown in economic growth”, he said.

“The negative impact on growth could be mitigated by tax cuts and deregulation by a Republican Congress. However, this would increase the budget deficit and reinforce inflation, especially in combination with reduced immigration,” he added.

Black Friday is one of the busiest times of year for consumer goods stores, and the period between Thanksgiving and Cyber Monday — the Monday following the holiday, when electronics vendors discount goods — is critical to retailers’ annual revenue.

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NRF chief economist Jack Kleinhenz said that households’ finances were in “good shape”, offering “an impetus for strong spending heading into the holiday season”, although “households will spend more cautiously”.

Brian Cornell, Target chief executive, told analysts this week that consumers were becoming “increasingly resourceful” in the way that they shopped, “focusing on deals and then stocking up when they find them”.

The store group, which disappointed Wall Street this week by forecasting flat sales in the fourth quarter, ran a three-day “Early Black Friday” promotion in early November. On Thursday it launched a promotion titled “Black Friday deals” which will last to the end of the month, including items such as half-price Christmas trees and headphones.

Walmart, the world’s largest retailer, launched the first of two week-long “Black Friday Deals” events on November 11. The second will begin on Monday, offering markdowns on televisions, iPhones, toys and jeans, among other items.

Amazon’s “Black Friday Week” began on Thursday. Home Depot’s “Black Friday Savings” offer lasts from November 7 to December 4.

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Additional reporting by Will Schmitt in New York and Madeleine Speed in London

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Two killed and one injured as plane crashes in Colorado mountain range

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Two killed and one injured as plane crashes in Colorado mountain range

Two people were killed and one was injured after a Civil Air Patrol plane crashed near Storm Mountain in Colorado.

Authorities responded to a report of a plane crash roughly 80 miles north of Denver shortly after 11 a.m. on Saturday, the Larimer County Sheriff’s Office said.

Emergency crews and deputies found three passengers on board. Two were confirmed dead while the third was transported to a local hospital with severe injuries, the sheriff’s office said.

The plane belonged to the Thompson Valley Composite Squadron of the Civil Air Patrol, a civilian auxiliary of the US Air Force. The plane, which the National Transportation Safety Board identified as a Cessna 182, was conducting a routine aerial photography training mission when the incident occurred, Colorado Civil Air Patrol confirmed.

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Pilot Susan Wolber and aerial photographer Jay Rhoten lost their lives in the crash while co-pilot Randall Settergren suffered injuries, the state’s Governor Jared Polis announced Saturday.

Aerial photos show the wreckage from the crash

Aerial photos show the wreckage from the crash (Fox31 Denver)

These individuals “served the Civil Air Patrol as volunteers who wanted to help make Colorado a better, safer place for all. The State of Colorado is grateful for their commitment to service and it will not be forgotten,” the governor said.

The sheriff’s office is still working on recovery operations, which it expects will take several days “due to the extreme, rugged terrain,” authorities said. An investigation into the crash is also ongoing.

Major General Laura Clellan, the Adjutant General of Colorado of the state’s department of Military and Veterans Affairs, also issued a statement in the wake of the tragedy.

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“The volunteers of Civil Air Patrol are a valuable part of the Department of Military and Veterans Affairs, and the lifesaving work they do on a daily basis directly contributes to the public safety of Coloradans throughout the state,” she said. “Our thoughts and deepest condolences are with the families of those involved in the crash. I would also like to thank all of the first responders who assisted with rescue efforts.”

Colorado Civil Air Patrol missions “range from search-and-rescue of lost hikers or hunters, location of downed aircraft, and transport of emergency personnel or medical materials,” the statement said.

Loveland Fire Rescue Authority, Thompson Valley EMS, UCHealth LifeLine, Larimer County Parks Rangers, Loveland Police Department, the United States Forest Service, and the Colorado Air National Guard also assisted with the incident response.

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Starbucks pares hedging programme despite coffee market surge

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Starbucks pares hedging programme despite coffee market surge

Starbucks has slashed its use of hedges against coffee price shocks even as the price of beans has soared, raising concerns that it may be unusually exposed to market swings. 

The world’s largest café chain held less than $200mn worth of fixed-price contracts for so-called green, or unroasted, coffee at the end of its fiscal year in September, according to its newly filed annual report, down from $1bn as recently as 2019. 

The decline has occurred at a time when roasters confront supply deficits after persistently poor crops in major exporters such as Brazil. Benchmark coffee futures rose above $3 a pound in New York on Friday to a 13-year high, following a more than 70 per cent gain in the past 12 months. 

Starbucks buys 3 per cent of the world’s coffee to supply its 40,000 cafés and retail businesses. A team based in Lausanne, Switzerland manages purchasing high-quality arabica beans under a subsidiary named the Starbucks Coffee Trading Company. The decline in the value of its fixed-price contracts has attracted attention on Wall Street. 

“They are substantially less hedged than they used to be. It makes the next 12 months of coffee prices more important than they’ve ever been,” said Gregory Francfort, a restaurant analyst at Guggenheim Securities.   

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New Starbucks chief executive Brian Niccol is in the the early stages of a plan to revive flagging sales at cafés. One of his goals is to restore its appeal as a community coffee house. “At Starbucks, coffee comes first,” he said in video remarks last month. 

The company is not alone among roasters in letting price-cover slip during an explosive market rally. Data from the US commodity futures regulator shows commercial traders have sharply reduced their contracts to buy arabica.

A coffee trader familiar with Starbucks’ operations says the majority of its purchases are made with so-called “price-to-be-fixed” contracts, which establish a quantity, delivery month and the amount of price premium to New York’s futures market. The final purchase price is agreed later.

“When a market rallies significantly and quickly, as coffee has done, the roasting community in general tends to let coverage decline,” the trader said.

Starbucks’ 56 “tier one” suppliers range from global commodities trading houses such as Louis Dreyfus and Olam to farmer co-operatives. The company in 2021 said it bought 800mn lbs of coffee annually — an amount that would cost $2.4bn at current benchmark prices. 

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Starbucks had $1.1bn in green coffee purchase obligations on its books as of September, according to its annual report.

The company buys green coffee using two types of contracts: fixed-price and price-to-be-fixed, according to its annual report. For the latter, the company also uses derivatives contracts to insure against market gyrations. 

Line chart of $mn showing Starbucks cuts value of 'fixed-price' coffee purchases

“Like others, right now we’re remaining agile in a very dynamic market,” Starbucks said in response to questions. “An example of that agility is that our current priced coverage is slightly lower than our typical range of 9-18 months.”  

Starbucks executives rarely discuss coffee hedging with Wall Street, but in 2021 — another period of furious price rises — then-CEO Kevin Johnson told analysts the company purchased 12 to 18 months in advance, and at the time had locked in prices for the next 14 months.

“We may be the only large buyer of green coffee that uses this approach, and that will serve us well as it gives us a significant advantage relative to our competitors who, if they don’t buy this far in advance, will certainly not have that cost structure that we put in place,” he said.

The value of Starbucks’ price-to-be-fixed contracts has fluctuated, ending the fiscal year in September at $929mn, according to the annual report.

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That sum was more than a year ago, but well below levels of 2021 and 2022. Coffee derivatives contracts held by Starbucks were worth $154mn, the lowest September value since 2020. 

Starbucks’ coffee trading operation is headed by Andres Berron, an eight-year employee of the company, according to his LinkedIn page. The company declined to make him available for comment. 

Starbucks said its approach to purchasing coffee hasn’t changed. The company pointed out that its current stocks of physical coffee are a cushion against volatility in the spot market.

Inventories of unroasted and roasted beans combined were worth about $920mn as of September, according to the annual report, the lowest fiscal year-end figure since 2021. 

“We keep a healthy and ample green coffee inventory that outpaces other roasters,” Starbucks said. 

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Global coffee production has been rocked by poor weather. The US Department of Agriculture last week cut its production forecast for Brazil, the top supplier, citing irregular rainfall and high temperatures that could depress its next harvest. 

“The global coffee market just can’t seem to catch a break,” said Kona Haque, a commodities analyst at ED&F Man in London. “Just when you think maybe this year we’re going to get a big crop and finally get back to a surplus and rebuild our stocks, you get another adverse-weather event in either Brazil or Vietnam, and things get tight again.” 

“Because markets now are tighter than usual, there is upward pressure on prices,” she added. “In a rising price environment, clearly you want to be hedged. You do not want to be exposed to rising spot prices.” 

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