by David Bodamer December 5th, 2007
Christmas in Wonderland, a new movie that we wrote about in May filmed largely at the West Edmonton Mall is not getting good reviews so far. Even worse is that it’s mostly getting ignored by critics. Just a handful of papers even bothered to review it. And it’s only enjoying a a limited release in the U.S. right now–about 1,000 theaters.
It’s also having some distribution problems in Canada. That created an awkward situation since there was a danger that the movie wouldn’t even be shown at the property where it was filmed in time for the holiday shopping season. Luckily, mall management was able to work out a deal to get the film shown. But it will be the only place in Canada where you can see it.
Still, this has to be a disappointing outcome. The mall company turned over huge sections of the property over to the film shoot and had hoped the movie would provide residuals in future years based off annual promotions based on showing the film and selling the DVD throughout the property. It’s not looking like things are going to work out that way.
The upshot is that this Christmas, unless you live in Edmonton, the film won’t be coming to a theatre near you.
“We’re trying to get a deal closed [with a distributor],” said Tim Brown, president of Vancouver-based Insight Film Studios Ltd., the film’s Canadian producer.
Brown said that in the meantime, he has struck a separate deal so that the film can at least be shown in the Alberta capital. “Getting a distributor to come on board and step up to a minimum guarantee that suits our financing plan is not always easy to do,” he said. “Right now, the main objective is to get the film out so people in Edmonton can get a chance to see it.”
It’s too late to get it booked elsewhere for Christmas, he said. “People are booking Christmas in August.”
Related Topics: Management & Leasing, News, Quirky, Retail Real Estate |
by David Bodamer December 5th, 2007
A sister publication, American City and County, has a nice story up on restoring brownfields.
According to the U.S. Environmental Protection Agency and the Washington-based Brookings Institute, 450,000 brownfield sites, comprising more than 80,000 acres, currently blight America’s cities. Because of tight budgets, brownfields often remain idle and abandoned, costing local governments billions of dollars in lost property tax revenues, imposing potential liabilities in the areas where they are located and prompting public outcry for cleanup and reuse. Over the last decade, however, cities and counties have used state and federal programs to restore brownfields without constraining their budgets.
Related Topics: Development, News, Trends |
by David Bodamer December 5th, 2007
Pittsburgh-based American Eagle Outfitters Inc. plans to debut a fourth store concept early next year, according to the Pittsburgh Tribune-Review. Jim O’Donnell, CEO of the company, said that while the new concept will be unique, it will also be “designed to leverage to the max against the AE brand.” O’Donnell did not provide additional details about the new stores, which he referred to as “concept four.” However, he did say they “will not be some version” of American Eagle, and added that the company plans to further expand internationally. American Eagle currently has 75 stores in Canada, operates 855 stores in the United States and Puerto Rico, and currently has three formats–American Eagle, aerie and Martin + Osa. The retailer will spend $250 million to $275 million next year to open 135 new and 50 remodeled stores, primarily American Eagle and aerie locations.
From DDI.
Full story.
Related Topics: News, Retail |
by David Bodamer December 4th, 2007
The slowest holiday shopping season in five years may signal disappointing earnings well into next year for U.S. retailers including Target Corp., Plano-based J.C. Penney Co. and Dillard’s Inc.
Goldman Sachs Group Inc. analysts lowered earnings projections for the year ending in early 2009 at 12 retailers last week. The average estimates for the five biggest U.S. department stores, led by Sears Holdings Corp., have declined the past four weeks, according to data compiled by Bloomberg.
The dimming prospects have weighed on retailers’ stock prices. The 30-member Standard & Poor’s 500 Retailing Index fell 0.1 percent to 433.21 at 9:39 a.m. Monday. It dropped 5.9 percent from Nov. 1, when the industry’s holiday season began, through Friday. The S&P 500 index declined 4.4 percent during that time.
“Everyone is cutting numbers,” Jon Fisher, who helps manage $22 billion, including retailers’ shares, at Fifth Third Asset Management in Minneapolis, said Nov. 30. “The pace seems to be accelerating as analysts are scrambling to play catch-up. In two or three months, we are going to see the companies themselves cutting numbers.”
Story here.
Related Topics: News, Retail |
D.C. Deemed Most Walkable City
by David Bodamer December 5th, 2007
Full story.
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