SeaWorld gets OK to ignore PETA
The U.S. Securities and Exchange Commission has issued a “no-action” letter to Orlando-based SeaWorld Entertainment, saying its staff thinks the company can ignore a shareholder resolution from People for the Ethical Treatment of Animals.
PETA, which owns SeaWorld shares, had submitted a resolution calling for the retirement of SeaWorld’s orcas to ocean pens. Investors that own enough stock in a public company can place such proposals on proxy statements. Investors then vote on them at the annual shareholder meetings.
Sometimes, as in the case of SeaWorld, companies seek exceptions from the SEC.
“In our view, the proposal seeks to micromanage the company by probing too deeply into matters of a complex nature upon which shareholders, as a group, would not be in a position to make an informed judgment,” SEC attorney Mitchell Austin said in a letter. “Accordingly, we will not recommend enforcement action to the Commission if SeaWorld omits the proposal from its proxy.”
SeaWorld would not comment on the letter, saying it would do so “when the process is finished.” PETA has asked for reconsideration, saying in a letter to the SEC its proposal has a “focus on a significant social policy issue that transcends the Company’s ordinary business decisions.”
PETA has tried several times to get SeaWorld investors to vote on the issue. The group had to withdraw one resolution after SeaWorld said its shares didn't meet the minimum value needed. PETA said the value fell beneath the minimum required because of SeaWorld's stock decline. PETA’s original resolution was blocked in 2014 because federal rules require shareholders to have held stock for at least a year before submitting resolutions. SeaWorld had been a publicly traded company for less than a year, so no stockholder could meet that threshold.
The Walt Disney Co. has selected Anthony Connelly to succeed Karl Holz as president of New Vacation Operations and Disney Cruise Line.
Connelly is a former senior vice president of operations at Disney Cruise Line who moved to the company’s Imagineering division last year.
Holz is retiring in FebruIn ary 2018. Connelly will return to the cruise line division in October to ensure a smooth transition.
Connelly has spent 27 years with Disney. He has held senior leadership roles in finance and Disney Cruise Line operations.
“I know that Anthony’s business acumen and his commitment to delivering only the best possible guest experience will enable our teams to continue innovating and delighting the families who vacation with us,” Walt Disney Parks and Resorts Chairman Bob Chapek said in a statement.
The water-park industry continues to expand in North America, with over 40 expansions and new facilities opening this year, according to a new report from Hotel & Leisure Advisors.
2017, the firm projects 16 municipal and nine private outdoor water parks will open.
That outpaces nine municipal and five private outdoor additions.
The report identified Universal Orlando’s Volcano Bay, opening next month, as one of this year’s most anticipated additions. Volcano Bay, it said, “is poised to set a new standard in the outdoor waterpark market.”
This 30-acre water park will feature a multidirectional wave pool, raft rides, and body slides that drop down a 200-foot volcano.
The Krakatau Aqua Coaster, a signature ride, will feature linear induction motor technology relying on magnets to propel rafts.
Hotel & Leisure Advisors said the company behind that technology is ProSlide Technology, a well-known water slide company based in Canada.
Orlando Sanford International Airport and Surinam Airways have started nonstop service between Sanford International Airport and Queen Beatrix International Airport in Aruba.
The service operates weekly, year-round with a Monday afternoon arrival into Sanford at 4:30 p.m., and a Tuesday afternoon departure from Sanford at 4 p.m. Surinam Airways uses a 737-300 aircraft with 126 seats. It has eight business class seats and 118 economy ones. Travelers can book fares at www.FlySLM.com.
Surinam Airways has operated seasonal nonstop flights from Georgetown, Guyana, and direct ones from Paramaribo, Suriname, into Sanford since 2015.