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☆ Paper Magazine, the Oral History: ‘They Were Wide Open’
▼ + stars: | 2023-07-01 | by ( John Ortved | ) www.nytimes.com time to read: +1 min

Maggie McCormick, office manager, 1985-1993: There were just so many moments at Paper when you knew the world was being changed. Fenton Bailey, producer, former Paper columnist: The vibe was, “Hip-hop is a fad. Dennis Dermody, film critic, 1986-2017: I got a call from David Hershkovits. He said, “Listen, we need a film critic, and I hear you go to the movies all the time. La Stampa, in Rome, put up a big article: “Scandal Rocks Disney!” Disney held a press conference to say it was just a joke.

Persons: Maggie McCormick, Fenton Bailey, Dennis Dermody, David Hershkovits, Cook, Macaulay, Christine Muhlke, “, Eileen Myles, David, “ You’ve Organizations: Disney Locations: Stampa, Rome

☆ Los Angeles Homeless Population Jumped 10%, Resuming Prepandemic Growth
▼ + stars: | 2023-06-29 | by ( Christine Mai-Duc | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/los-angeles-homeless-population-jumped-10-resuming-pre-pandemic-growth-e4a5e3a7

Persons: Dow Jones Locations: angeles

☆ Here are Wednesday's biggest analyst calls: Nike, Tesla, Amazon, Apple, Adobe, Uber, Micron and more
▼ + stars: | 2023-06-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs upgrades Petrobras to buy from neutral Goldman Sachs said the Brazilian petroleum company has an attractive valuation. "As such, we believe the potential for sustained upside to Street OI estimates ahead will be a key catalyst for shares." Citi initiates Everest as buy Citi initiated coverage of the insurance company and said it's "capitalizing on the most favorable reinsurance underwriting environment in decades." Goldman Sachs reiterates Nike as buy Goldman Sachs said it's standing by its buy rating heading into Nike earnings next week. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the stock heading into earnings next week.

Persons: Barclays downgrades Tesla, Goldman Sachs, Wolfe, it's bullish, TD Cowen, Ralph Lauren, it's, Cowen, Jefferies, OneSpaWorld, Oppenheimer, Uber, Bud, JPMorgan, Tyler, Goldman, Bernstein, Oracle, Needham, Christine McCarthy, Snowflake, Shopify, Morgan Stanley, Dell, Yvonne McGill, Apple Organizations: Street, Barclays, LT, Petrobras, Spotify, BMO, Adobe, Citi, Bank of America, FedEx, Nike, IAC, Amazon, Molson Coors Citi, TAP, Tyler Technologies, Micron, Oracle, — Oracle, Windows, Disney, DIS, Carnival, TAM, Deutsche Bank, Dell, IR, Apple Locations: OW, 2H23, Nike's

☆ What's next for BlackRock?
▼ + stars: | 2023-06-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

The biggest, and most obvious, change comes at the top, as BlackRock considers life without Larry Fink. The departure of Fink from BlackRock — a firm he's led since founding it with Robert Kapito in 1988 — is monumental in and of itself. But consider the state of affairs:Simply put, there's a lot going on these days at BlackRock. Insider's Rebecca Ungarino, our resident BlackRock expert, has a rundown of all the latest news at the massive money manager. More on everything that's happening at BlackRock as its CEO and cofounder considers his future.

Persons: Dan DeFrancesco, we've, Leonardo Munoz, don't, Larry Fink, Fink, Robert Kapito, Insider's Rebecca Ungarino, Todd Anderson, Christine McCarthy, Bob Iger, Iger, Gen, Jeffrey Cane, Hallam Bullock Organizations: Disney, Netflix, BlackRock, Getty, Barclays, Goldman, Mouse, Apple's, McKinsey, LinkedIn Locations: VIEWpress, BlackRock —, BlackRock, Hulu, London, New York

☆ Disney's parks division is driving big profits, a bright spot as the streaming biz struggles and ESPN's future is unclear. Here's how that could factor into Bob Iger's CEO succession plans.
▼ + stars: | 2023-06-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Disney CEO Bob Iger has reorganized the company into 3 core units: entertainment, ESPN, and parks. Parks' growing prominence comes as the company faces looming decisions over Iger's CEO. Travel bans "dramatically impacted" results for Disney Parks during the intense early years of the coronavirus pandemic, Heger noted, adding that parks are now generating more revenue and operating profit than they did in pre-COVID times. The parks' success is "helping to offset" losses from Disney's "DTC," or direct-to-consumer streaming business, Heger added. Josh D'Amaro, the current chairman for Disney Parks, Experiences, and Products, would be a likely figure appearing on any shortlist of CEO contenders.

Persons: Bob Iger, Parks, It's, Dave Heger, Edward Jones, Heger, AECOM, Iger, Josh D'Amaro, Christine McCarthy —, Iger's, Bob Chapek, Ron DeSantis, Chapek, Hollywood creatives, Tom Staggs, Iger —, —, Chapek's, it's, you've, Jeffery Merola, he'd, DeSantis, Reed Alexander Organizations: Disney, ESPN, Disney Parks, Walt Disney, Disneyland, Products, Florida Gov, Hollywood, Los Angeles Times, Sunshine State Locations: Tokyo, Shanghai, Orlando , Florida, Anaheim , California, execs, Chapek, Syracuse , New York, Orlando

☆ The market is overreacting to the departure of Disney's CFO. Here's why
▼ + stars: | 2023-06-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Typically, news of a CFO unexpectedly leaving a company is a red flag because it raises questions about how the business is performing. But McCarthy's departures is not an example of a CFO fleeing because the business is doing poorly. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Christine McCarthy, Disney, McCarthy, Kevin Lansberry, Jim Cramer, Bob Iger, Bob Chapek, Iger, Jim Cramer's, Jim Organizations: Walt Disney, Disney, CNBC

☆ Disney finance chief Christine McCarthy to step down
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

June 15 (Reuters) - Walt Disney (DIS.N) said on Thursday Chief Financial Officer Christine McCarthy would be stepping down. Kevin Lansberry, Executive Vice President of Disney Parks, Experiences and Products will serve as the company's interim CFO effective July 1. McCarthy is taking family medical leave of absence and will continue to serve as a strategic advisor to ensure a successful transition, the company said. Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Walt Disney, Christine McCarthy, Kevin Lansberry, McCarthy, Chavi Mehta, Krishna Chandra Organizations: Disney Parks, Thomson Locations: Bengaluru

☆ Disney Finance Chief Christine McCarthy to Step Down
▼ + stars: | 2023-06-15 | by ( Joe Flint | Mark Maurer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/disney-finance-chief-christine-mccarthy-to-step-down-3ba5b1e8

Persons: Dow Jones, christine, mccarthy Organizations: disney

☆ Disney CFO Christine McCarthy, who was seen as a possible successor to Bob Iger, is stepping down
▼ + stars: | 2023-06-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Disney CFO Christine McCarthy is stepping down and taking a family medical leave, the company announced. McCarthy has been instrumental in helping CEO Bob Iger tackle Disney's challenges since his return as CEO in 2022. Disney SVP and CFO Christine McCarthy, who was seen as a contender to replace CEO Bob Iger, is stepping down to take a family medical leave of absence, the company announced. Kevin Lansberry, EVP and CFO of Disney Parks, Experiences and Products, will serve as interim CFO, starting July 1. McCarthy joined Disney in 2000 and served as treasurer before becoming CFO in 2015.

Persons: Christine McCarthy, Kevin Lansberry, McCarthy, Bob Iger, Iger, he's, Bob Chapek, Chapek's, he'd, She's Organizations: Disney, Longtime Disney, Morning, Disney Parks, Walt Disney Company, Wall Locations: America

☆ Disney CFO Christine McCarthy steps down
▼ + stars: | 2023-06-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

Los Angeles CNN —Disney (DIS) Chief Financial Officer Christine McCarthy is stepping down from her role and taking a family medical leave of absence, the company said Thursday. Kevin Lansberry, the company’s CFO of Parks, Experiences and Products, will step in as interim CFO, effective July 1. “Christine McCarthy is one of the most admired financial executives in America, and her impact on The Walt Disney Company during 23 years of dedicated service cannot be overstated,” Disney CEO Bob Iger said in a statement. McCarthy, who has served as CFO for more than 8 years, will serve as a strategic adviser while on leave and assist with selecting a long-term successor, the company said. “Although I am leaving the CFO role, I look forward to helping with the transition and will always be rooting for the success of my extended Disney family,” McCarthy said in a statement.

Persons: Los Angeles CNN —, Christine McCarthy, Kevin Lansberry, “ Christine McCarthy, Bob Iger, McCarthy, ” McCarthy, Lansberry Organizations: Los Angeles CNN, Los Angeles CNN — Disney, Parks, Walt Disney Company, company’s Parks, Disney Locations: America

☆ Disney’s Chief Financial Officer Is Stepping Down
▼ + stars: | 2023-06-15 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

Christine M. McCarthy, who in her eight years as Disney’s chief financial officer helped stabilize the company during the pandemic, when most of Disney was shut down, and played a key role in the ouster of Bob Chapek as chief executive last year, will step down on July 1, she said on Thursday. Ms. McCarthy, who has twice battled cancer during her Disney career, has a contract that runs until next June. He has served as chief financial officer for Walt Disney Parks, Experiences and Products since 2017. “He has my complete confidence,” Robert A. Iger, Disney’s chief executive, said in a statement. Mr. Iger called Ms. McCarthy “one of the most admired financial executives in America” and said her impact on Disney could “not be overstated.”

Persons: Christine M, McCarthy, Bob Chapek, Ms, Disney, ” Disney, Kevin Lansberry, ” Robert A, Iger, America ”, ” Organizations: Disney, Walt Disney Parks Locations: America

Christine McCarthy, Disney's chief financial officer, will step down from that role, the entertainment giant said Thursday. She will take a family medical leave of absence, and during that time, she will continue as a strategic advisor to Disney , the company said. Veteran Disney executive Kevin Lansberry, who currently works as finance chief for Disney's parks business, will become the company's interim CFO effective July 1. McCarthy, who started with Disney in 2000 and became CFO in 2015, leaves as Disney undergoes a broad restructuring during Bob Iger's second tenure as CEO. During McCarthy's tenure, Disney's streaming spending skyrocketed, and free cash flow fell.

Persons: Christine McCarthy, McCarthy, Disney, Kevin Lansberry, Bob, " McCarthy, Bob Iger's, Bob Chapek, Iger, Christine, — Organizations: Walt Disney Company's, Milken Institute Global, The Beverly Hilton Hotel, Disney, Veteran Disney, Chapek Locations: Beverly Hills , California

☆ Reparations for Black Californians Face Uphill Climb in State Legislature
▼ + stars: | 2023-06-14 | by ( Christine Mai-Duc | Photographs Marissa Leshnov For The Wall Street Journal | ) www.wsj.com time to read: 1 min

SACRAMENTO—The first task force in the nation exploring how a state could make reparations to Black Americans hurt by slavery and discrimination is set to issue a nearly-1,000 page report to California’s legislature later this month. Following two years of work, California’s task force is likely to suggest dozens of measures that could cost hundreds of billions of dollars.

Organizations: SACRAMENTO

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Persons: Dow Jones

☆ Second Flight Carries Migrants From New Mexico to Sacramento
▼ + stars: | 2023-06-05 | by ( Alicia A. Caldwell | Christine Mai-Duc | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/second-flight-carries-migrants-from-new-mexico-to-sacramento-8001743a

Persons: Dow Jones Locations: mexico, sacramento

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/california-homeless-population-oakland-wood-street-encampment-78d42cc3

Persons: Dow Jones Locations: california, oakland

☆ Facebook Parent Threatens to Remove News From Its Platforms in California
▼ + stars: | 2023-05-31 | by ( Alexandra Bruell | Christine Mai-Duc | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/facebook-parent-threatens-to-remove-news-from-its-platforms-in-california-f039406f

Persons: Dow Jones Locations: california

☆ Bosses want people in the office. The class of 2023 is ready.
▼ + stars: | 2023-05-21 | by ( Ethan Dodd | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Surveys show Gen Z and class of 2023 graduates want an in-person experience. In-person work can provide young workers with community, keep them engaged, and enhance their early workplace learning. Not so with Gen Z and the class of 2023. This generation wants the community, learning opportunities, and engagement that in-person work can provide — although some young professionals aren't a fan of in-office roles and prefer remote work. "Especially for new grads, they should balance the flexibility that they have for remote work and finding new opportunities with some of the benefits of in-person work," Pardue said.

☆ California Governor Wants to Cut Red Tape for Green Energy Projects
▼ + stars: | 2023-05-19 | by ( Christine Mai-Duc | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/california-governor-wants-to-cut-red-tape-for-green-energy-projects-fa330839

☆ How top execs get a bigger tax break on retirement savings than the rest of us
▼ + stars: | 2023-05-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

It’s a very real possibility, thanks to some generous tax-advantaged retirement savings options available to them — but not to rank-and-file employees. At Disney, where median employee pay is $54,256, CFO Christine Mary McCarthy had amassed nearly $44 million in a nonqualified plan. If annuitized, that balance might generate $3 million a month in retirement, IPS estimated. Narrowing the retirement divideMany Americans face critical shortfalls in savings as they near retirement. By contrast, the median 401(k) balance at Vanguard, a major provider of such plans, was just $33,472,” the IPS report notes.

Fox Corp. , Disney , Warner Bros. Media executives' messaging to advertisers could center around value this year, particularly as companies continue to offer more content on their streaming services. Cost cuttingWhile media executives will try to convince advertisers to maximize their spending, they'll be pushing that narrative while making fewer shows. The logo of the streaming service Paramount+ on a logo wall at the Paramount+ launch event. Jörg Carstensen | Picture Alliance | Getty ImagesParamount, in particular, has seen a big reliance on franchises, especially for its Paramount+ streaming service.

☆ Frieze New York’s Intimate Art Fair Pops Up at the Shed
▼ + stars: | 2023-05-15 | by ( Ted Loos | ) www.nytimes.com time to read: 1 min

Temporary “pop-up” editions of retail stores and restaurants have proliferated in the past few years. And what is an art fair if not a specialized, group version of that idea? The 11th edition of the fair Frieze New York will pop up at the Shed in Hudson Yards this week, from Thursday to Sunday, and will feature 68 galleries. The trick for the fair is that New York is already an art-world hub with hundreds of art spaces throughout the city, and the Shed sits just a few blocks from the gallery-packed Chelsea neighborhood. As Frieze’s director of Americas, Christine Messineo, put it, “The mission for New York is, we know we have a really educated audience, so how do we show them things they might not come across on their own?”

But housing costs have soared in the state over the past decade due to a lack of new construction, making it difficult for some students to live close enough to those universities to attend them. In Santa Cruz, the problem has been exacerbated by a flood of remote workers who arrived from the Bay Area during the pandemic and a 2020 wildfire that destroyed 900 housing units countywide. Santa Cruz is the second most expensive market for renters in the nation.

The company plans to expand its streaming offerings by the end of the year with a new app that combines Disney+ and Hulu, Chief Executive Bob Iger said. Total subscribers to the flagship Disney+ service dropped by 4 million from the previous quarter to 157.8 million. Most of the defections came from the Disney+ Hotstar offering in India after it lost streaming rights to Indian Premier League cricket matches. "Striking a fine balance between customer acquisition versus financial performance is no easy feat." As Disney tries to build streaming, its traditional television business faces hurdles.

☆ Disney's quarter reflects what we knew all along about Bob Iger's turnaround plan. Here's our earnings analysis and what's next
▼ + stars: | 2023-05-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Botton line We've been saying for weeks that fiscal Q2 was not the one to rush in and get in ahead of. Not represented in the table, the Q2 loss was also smaller by $400 million quarter over quarter. Furthermore, management acknowledged churn could be a potential issue for one more quarter before returning to domestic sub-growth in the fiscal fourth quarter. As for theme park sales, this profitable growth engine remains in great shape, jumping nearly 38% to $6.76 billion in fiscal Q2. Iger's Strategy Updates Alongside fiscal Q2 results, we got some more news on the strategic changes Iger has for the company, about six months into his return as CEO.

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