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Today’s Big Story

Disney vs DeSantis Part III

Disney sued Florida Governor Ron DeSantis on Wednesday for his takeover of the theme park district. The lawsuit accuses the Governor of using a “targeted campaign of government retaliation” against the company after it opposed a law that bars instruction on gender orientation and sexual identity in kindergarten through 3rd grade.

Backstory:
Last year, Disney faced a ton of pressure to speak out against a DeSantis-backed law dubbed “Dont Say Gay”. When they did, DeSantis went on the offensive and launched an effort to take over the company’s self-governing district (Reedy Creek) by appointing a board that would oversee municipal services in the area. At the last second, Disney pushed through an agreement that stripped the new board of their powers. Then, this past week, DeSantis signed a bill that took the power back from Disney. Disney got fed up and sued.

Disney and taxpayers both suffer under the new deal:
Up until last year, Disney had the luxury of building structures without local approval and were exempt from certain wastewater and environmental codes. Under the new governing board, they no longer have those benefits. Sounds fair, right? However, Disney also paid for municipal projects like the construction and maintenance of hundreds of millions of dollars worth of roads. These costs will now be transferred to local governments. They also have nearly a billion dollars in debt that will fall on taxpayers.

Moving forward:
Disney says DeSantis’ actions are an attack on the company’s free speech and that their play to retain control of Reedy Creek was lawful and approved in a public form. The $222 billion corporation is unlikely to hand over the keys to their kingdom without a serious fight.

Little Stories

Business & Economy

*First Republic’s stock tumbled 30% on Wednesday after its first quarter earnings statement showed billions of dollars in deposits had been pulled and put into other banks. Shares were trading at $140 in February, today they are hovering around $5.

*GM discontinued the Chevy Volt and will no longer produce one of the only EVs that can be purchased for under $30,000.

World

*Pope Francis will allow women to vote at an upcoming meeting of the bishops. The historic reform is part of his desire to give women a voice in the decision-making process of the Catholic Church.

*The FBI issued a warning to tourists to avoid Haiti after the recent increase in violence along with the abduction of an American couple. Kidnappings are up 300% in the first three months of this year compared to 2022.

US New, Politics, & Government

*Writer E Jean Carroll testified in court that former President Donald Trump raped her in a department store fitting room in 1996. Trump denied the claim and immediately posted “This is a false and fraudulent story — WITCH HUNT!” on his Truth Social platform.

*Most of Yosemite Valley will be closed for the weekend due to fears that snow melt from the massive winter storms will cause flooding.

Sports & Entertainment

*The New York Knicks cruise in game 5 to win their first playoff series since 2013.

*Erling Haaland became the Premier League’s all-time single season scoring champ on Wednesday after scoring his 33rd goal. The Norwegian soccer superstar still has 5 games left in the season to add to the record.

Science, Health, & Tech

*The UK blocked Microsoft’s $69 billion proposed takeover of gaming company Activision/Blizzard. Regulators are afraid the deal will stifle competition in cloud gaming.

*The ocean’s record high temps have scientists concerned as they usually begin to decline this time of year from their March to April peaks.

Extras

*The ocean’s record high temps have the world in uncharted territory. 

*A newly discovered jellyfish has 24 eyes.

*A bear has made itself at home in a residential Orlando neighborhood.