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Article: The not-so-magic kingdom: Euro Disney.
- Article from:
- The Economist (US)
- Article date:
- September 26, 1992
CopyrightCOPYRIGHT 1992 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STAGGERING off Big Thunder Mountain, a giant rollercoaster on Euro Disney's grounds outside Paris, most riders wear ear-to-ear grins. Despite waiting in a long queue for a fast thrill, the ride's sharp curves and steep drops leave them giddy with excitement.
Big Thunder Mountain is nothing compared to the ride that Euro Disney's shareholders have had. After being floated in 1989 at FFr72 ($11), the company's shares climbed to FFr164 as the park's opening last April approached. Since then it has been all down hill. A series of much-publicised setbacks--poor attendance, labour discontent, French snobbery and, finally, a profits warning--sent the shares plunging to a ...