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(NEW YORK) — A fully booked hotel in Maine said it received its first request from a solar eclipse tourist five years ago. A portable toilet vendor in Indiana said it is doing 10 times more business than it usually would at this time of year. A botanical garden in Texas already sold out its eclipse viewing event, warning “walk-ups will not be accepted.”

A wave of travel to the 15 states in the viewing path of the total solar eclipse, set to take place on April 8, will generate a surge of spending to the tune of at least hundreds of millions of dollars, delivering a windfall for local businesses and a burst of activity for towns suddenly transformed into tourist destinations, some economists told ABC News.

“This is a once-in-a-lifetime event,” Adam Kamins, senior director of economic research at Moody’s Analytics, told ABC News. “It will essentially be a weekend-long tourism boom.”

In the U.S., the path of totality will begin in Texas and travel upward through midwestern states such as Indiana and Ohio, ultimately reaching the likes of New York, New Hampshire and Maine.

As many as four million people will travel to the path of totality for the eclipse, making it the largest travel day of the year, according to research group Great American Eclipse.

Travelers will mainly shell out money for gas, lodging and food, generating between $372 million and $1.5 billion in economic activity, Bulent Temel, professor of practice and economics at the University of Texas, San Antonio, told ABC News.

Temel examined the spending of a typical tourist during the most recent solar eclipse, in 2017, adjusting for inflation and projecting that visitors this time around would each spend about $244 each.

“It’s quite significant,” Temel said.

Rangeley, Maine, a snowy resort destination for stargazers and snow-mobile riders, is home to 1,200 people.

The town expects as many as 20,000 visitors for the eclipse, Travis Ferland, owner of the Rangeley Inn and board member at the local chamber of commerce, told ABC News.

The Rangeley Inn, which began taking reservations in November, sold out in January. To serve eclipse tourists, the hotel will host a “Coffee & Constellations” discussion leading up to the eclipse and a themed party afterward, replete with a live band.

Other activities on offer for eclipse tourists in Rangeley: “Cosmic Yoga,” “Total Eclipse Paint Night” and “Night Sky Trivia.”

Parkside & Main, a local restaurant, has received about 20 calls per day from eclipse visitors as far flung as Washington State, California and Australia, Kash Haley, the part owner of the businesses, told ABC News.

“People love their astronomy,” Haley said.

The restaurant plans to stock 50% more food than it typically would at this time of year, but Haley said he doesn’t want to run the risk of purchasing too much and suffering the cost.

“For a small business, it’s tricky,” Haley said. “There’s no science behind it.”

The restaurant has sold themed T-shirts bearing the slogan, “Parkside of the Moon,” and an illustration of a fork and knife inside the iconic triangle that appears on the cover of the Pink Floyd album by a similar name.

In all, the eclipse is expected to bring more than $24 million in spending to Maine, according to research firm The Perryman Group.

The spending in Texas, which Temel estimated could reach more than $600 million, will make it “the most profitable 22 minutes in Texas history,” Temel said, referring to the expected duration of the full solar eclipse over the state.

In Arkansas, the eclipse could bring nearly $50 million in economic activity, according to a study by Michael Pakko, chief economist and state economic forecaster at the Arkansas Economic Development Institute at the University of Arkansas at Little Rock.

“It might very well be the biggest single tourism event in the state’s history,” Pakko told ABC News.

Kamins, of Moody’s Analytics, said the eclipse would bring a significant, albeit temporary boom for towns and cities along the path of totality. However, he added, the economic benefits will be limited by the lodging and restaurant capacity of the regions involved.

Some of the states — including Arkansas, Ohio and Indiana — rank among the lowest for their share of the nation’s consumer-driven economic output, Kamins added.

“Obviously, it’s a natural event,” Kamins said. “It has no concern for where the tourism infrastructure might be.”

An unsung feature of that infrastructure: toilets. In Bloomington, Indiana, where local officials expect 300,000 visitors for the eclipse, a portable toilet company called Izzy’s Rentals is seeing more customer demand than it ever has in its nearly 20 years of operation, Cindy Lewis, the company’s part owner, told ABC News.

Izzy’s typically rents out about 20 portable toilets on a typical weekend day in April, Lewis said. On the day of the eclipse, she added, the company will rent out 200.

In preparation, the family-owned firm added a third employee and expanded its inventory with help from a company in Indianapolis, Lewis said.

“To have a big day like this in April is wonderful,” Lewis said, while acknowledging some trepidation about the frenzy headed her company’s way.

“It feels like a big impending storm,” Lewis added. “You don’t quite know what’s coming.”

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(NEW YORK) — As avian flu continues to spread in birds across the United States, a major chicken egg manufacturer has temporarily halted production after the highly contagious disease was detected at its facilities.

Cal-Maine Foods, Inc., the nation’s largest producer and distributor of fresh eggs, announced the positive test result for highly pathogenic avian influenza (HPAI) at its Parmer County, Texas facility on Tuesday.

The outbreak has resulted in the loss of nearly “1.6 million laying hens and 337,000 pullets, or approximately 3.6% of the Company’s total flock as of March 2, 2024,” Cal-Maine Foods announced. This was due to guidance from the U.S. Department of Agriculture on poultry infections.

The company followed U.S. Department of Agriculture protocols in shutting down operations and said it’s “working to secure production from other facilities to minimize disruption to its customers.”

While there are “robust biosecurity” measures in place, the egg producer said “no farm is immune from HPAI” which is “still present in the wild bird population and the extent of possible future outbreaks, with heightened risk during the migration seasons, cannot be predicted.”

Despite a recent human infection following an outbreak at a Texas cattle farm, the risk of bird flu to the public is considered low and no person-to-person spread has occurred, according to the U.S. Centers for Disease Control and Prevention.

Amidst the increase in outbreaks, the U.S. Food and Drug Administration reminded consumers that HPAI “cannot be transmitted through safely handled and properly cooked eggs.”

There is also no known risk related to HPAI associated with eggs currently in the retail market and as of time of publication, no eggs have been recalled.

Cal-Maine Foods said in the release that it’s working “closely with federal, state, and local government officials and focused industry groups to mitigate the risk of future outbreaks and effectively manage the response.”

The Ridgeland, Mississippi-based company produces, grades, packages, and markets fresh shell cage-free, organic, pasture-raised, free-range, and nutritionally enhanced eggs.

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(WASHINGTON) — The Federal Reserve will see if inflation moves beyond its current rough patch before imposing highly anticipated interest rate cuts, Fed Chair Jerome Powell said on Wednesday.

Addressing a business conference at Stanford University, Powell touted progress in the fight to cool price increases while acknowledging that such headway had stalled in recent months.

“On inflation, it’s too soon to say whether the recent readings represent more than just a bump,” Powell said.

“Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy,” Powell added.

Inflation has fallen significantly from a peak of 9.1% but it remains more than a percentage point higher than the Fed’s target rate of 2%.

At a meeting last month, the Fed opted to keep rates highly elevated. The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.

The move marked the fifth meeting in a row at which the Fed has left rates unchanged, marking a prolonged pause of the aggressive rate hiking cycle that started in March 2022. The Fed said last month that it still intends to make three interest rate cuts this year.

The Fed’s next rate decision will take place at the beginning of May.

On Wednesday, Powell said the central bank faces risks whether it cuts interest rates too early or too late.

“Reducing rates too soon or too much could result in a reversal in the progress we’ve seen on inflation and ultimately require even tighter policy to get inflation back to 2%,” Powell said. “But easing policy too late or too little could unduly weaken economic activity and employment.”

He added, “As conditions evolve, monetary policy is well prepared to confront either of these risks.”

Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.

But the Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand on top of solid economic activity could lead to an acceleration of price increases.

U.S. job gains far exceeded expectations in February, U.S. Bureau of Labor Statistics data earlier this month showed.

The U.S. added 275,000 jobs in February, surpassing predictions of about 200,000 jobs added, but marking a substantial decline from the hiring of roughly 350,000 workers in January, according to BLS data.

The S&P 500 reached a record high last month.

Attitudes about the economy have improved in recent months. Consumer sentiment inched lower in February but preserved much of the large gains achieved in previous months, a University of Michigan survey found.

Still, some areas of the economy have cooled.

The housing market has slowed substantially due in large part to soaring mortgage rates.

The average interest rate for a 30-year fixed mortgage has soared to 6.79%, rebounding after a steady decline at the end of last year, according to a report from Freddie Mac last Thursday.

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Speaking on Wednesday, Powell referred to surveys of consumer and business sentiment that suggest inflation is widely expected to return to normal levels.

“The public does believe — and it’s a good thing, because it’s true — that inflation will go back down to 2%,” Powell said. “That’s very reassuring but that’s partly because of the very strong action we took and also because of our ongoing commitment to actually return inflation to 2% over time.”

“And that is our commitment,” Powell added.

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(NEW YORK) — Disney shareholders on Wednesday rejected board nominees allied with activist investor Nelson Peltz, ending a combative, months-long proxy battle centered on the company’s navigation of the topsy-turvy onset of the streaming era.

A majority of shareholders instead voted in support of a 12-person slate of board nominees put forward by Disney, the company announced at its annual shareholder meeting. (Disney is the parent company of ABC News.)

Trian Partners, the hedge fund founded by Peltz, had leveraged its standing as one of Disney’s largest shareholders to carry out a high-profile campaign critical of the company’s growth strategy, and insistent about a plan for a successor to 73-year-old current CEO Bob Iger.

Addressing the activist push at a Morgan Stanley investor conference earlier this month, Iger touted a recent strong stock performance run and dismissed Peltz’s campaign as an effort “designed to distract us.”

“Obviously, many of the businesses are experiencing the effect of disruption,” Iger added. “It’s one that takes not only a significant amount of knowledge, but a tremendous amount of time and focus.”

Peltz, 81, sought board seats for himself as well as former Disney Chief Financial Officer Jay Rasulo. They called on shareholders to deliver them the seats currently held by Maria Elena Lagomasino and Michael Froman.

The proxy war arrived as a shift to streaming upended the media business. Beset by cord-cutting and the decline of movie theater attendance, Disney has grown the audience for its bundle of streaming services, which include Disney+, Hulu, and ESPN+. However, the new platform has yet to turn a profit.

Via a website devoted to the activist campaign, titled “Restore the Magic,” Trian Partners calls on Disney management to “develop and articulate” a clear streaming strategy that can achieve “Netflix-like margins.”

Outlining a series of reforms, the website requests cost cuts for the streaming business, a full review of the creative process, and an emphasis on the acquisition of new intellectual property.

For his part, Iger has said Disney is in the midst of a company transformation to address the streaming challenge identified by Peltz.

Disney+ has amassed 111.3 million subscribers over roughly five years since its launch, though the platform lost 1.3 million subscribers over the final three months of 2023, quarterly earnings in February showed.

The company said in the earnings report that it slashed streaming-related financial losses by $300 million over the three-month period, keeping it on pace to cut $7.5 billion in costs by the end of fiscal year 2024.

Cost cuts have helped boost Disney’s stock price 23% since a recent low in October, but the price remains down 30% from a high attained in March 2021.

The issue of succession is another key point of contention in the proxy fight.

During Iger’s first stint as Disney CEO, from 2005 to 2020, he managed to push back his departure multiple times. He returned to the position in November 2022 under an agreement to step aside again after two years, but months later the company announced a contract extension through 2026.

Trian Partners has urged the company to clarify its succession process and undertake an exhaustive search for Iger’s replacement, the activist campaign’s website says.

Upon receiving his contract extension nearly a year ago, Iger emphasized in a statement his commitment to a smooth succession.

“The importance of the succession process cannot be overstated, and as the Board continues to evaluate a highly qualified slate of internal and external candidates, I remain intensely focused on a successful transition,” Iger said.

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(NEW YORK) — As airlines continue to update baggage policies and everywhere from fast food chains to theme parks introduce dynamic pricing, JetBlue is combining the two business trends by introducing a new peak and off-peak payment structure for passengers.

The New York-based airline, which first increased its checked bag fees in February among competitors, again changed up its pricing to now charge $50 for the first checked bag and $70 for the second bag while traveling during peak times.

According to JetBlue’s baggage info website, the peak pricing applies to passengers paying to check a bag within 24 hours of departure and are traveling in Blue, Blue Basic, or Blue Extra fare classes within the U.S., Latin America, the Caribbean, or Canada.

The fee for a third checked bag is $135 during peak times, and $160 for a fourth or more bags.

The new pricing also applies to “peak-season” travel dates:

April 11 to April 29
June 20 to Sept. 3
Nov. 21 to Dec. 2
Dec. 19 to Jan. 6
Feb. 13 to Feb 24
April 3 to April 28

The first bag is included for free for customers flying in Blue Plus, Mint, Mosaic, or are a JetBlue Plus cardmember, regardless of whether the time is peak or off-peak.

Those flying in Blue, Blue Basic, or Blue Extra will pay $45 for the first checked bag and $60 for the second bag during off-peak hours and $50 and $70 respectively during peak times.

The airline noted that travelers can save $10 on their first two checked items when added before check-in, at least 24 hours before departure. Additionally, checked bag fees are only refundable on JetBlue if the entire booking is canceled prior to scheduled departure.

JetBlue chalked up the increase for customers as a result of higher business operating costs, such as fuel and increased wages.

Other major carriers including American Airlines, Alaska Airlines, and United Airlines have all recently made incremental price hikes on checked bags.

CBP announces new fee changes for Trusted Traveler Programs

Prices are also on the rise for travelers who utilize Global Entry or other Trusted Traveler Programs, U.S. Customs and Border Protection announced Tuesday.

The new fees going into effect on Oct. 1, for NEXUS, Global Entry, and SENTRI programs, have not been updated in more than 15 years, and “better reflecting the program costs,” according to CBP.

Global Entry fees will increase from $100 to $120.

SENTRI, which formerly had an “a la carte” fee structure, will move to a uniform fee of $120 to be collected in full when an application is submitted.

Fees for NEXUS will increase from $50 to $120 for travelers who utilize the joint program managed by CBP and Canada Border Services Agency allowing dedicated processing between the U.S. and Canada.

“As these programs have matured and expanded, updating the fee structures is critical to the continuation and management of the programs,” CBP stated.
 

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(NEW YORK) — Trump Media & Technology Group is attempting to force two of the company’s co-founders to forfeit their shares and give up any claim to the company’s leadership.

Trump’s social media company filed the lawsuit against Wesley Moss and Andrew Litinsky — co-founders and former Apprentice contestants — in a Florida court on March 24, two days after shareholders overwhelmingly voted to approve the company’s merger.

The lawsuit alleges that Moss and Litinsky “failed spectacularly” in their leadership of Trump Media, made “reckless and wasteful decisions,” and caused “significant damage” to the company.

Trump Media asked a Florida court to force the co-founders to forfeit their shares of the company, declare that the two have no right to appoint members to the company’s board, and award damages for their breach of their fiduciary duty.

“TMTG has been forced to file this action to remedy the harm inflicted upon it by two faithless fiduciaries and a company they own — Wesley Moss, Andrew Litinsky, and [United Atlantic Ventures] — and to halt their ongoing attempts to do even more damage,” the filing said.

Through their company United Atlantic Ventures, Moss and Litinsky sued Trump Media in February for attempting to dilute their shares in the company. A Delaware court did not expedite that lawsuit — clearing the way for Trump Media’s merger vote — but Trump Media agreed that any new shares issued would be placed into an escrow account until the resolution of the lawsuit.

According to a recent Securities and Exchange Commission filing, Moss and Litinsky’s company owns 5.5% of Trump Media — totaling 7,525,000 shares — which are currently worth approximately $388 million.

Shares in Trump Media have been on a whirlwind ride since trading began last week. Shares peaked over $79, but the company’s stock price dramatically fell by 21 percent Monday.

The company’s stock recovered slightly on Tuesday, and Trump’s stake is currently worth more than $4 billion.

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(NEW YORK) — Shares of former President Donald Trump’s social media platform dropped more than 20% on Monday after the company disclosed a net loss at the end of last year of more than $58 million.

The decline erased $2 billion in value and, with it, the value of Trump’s majority stake of 57%.

Before Trump Media and Technology Group joined forces with a shell company to go public last week, “management had substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due,” the company said in a regulatory filing.

The company also conceded that “TMTG’s success depends in part on the popularity of our brand and the reputation and popularity of President Trump. The value of TMTG’s brand may diminish if the popularity of President Trump were to suffer.”

The performance represented a reality check for a stock that was initially boosted by the enthusiasm of Trump’s supporters. On Monday share’s closed at about $48, down about 21%.

Trump’s stake, on paper, is still valued at more than $3 billion.

Trump is not allowed to sell or borrow against any of his shares for six months. He could ask the board of the directors for a waiver of that so-called lockup provision, but any attempt by Trump to alter that agreement could trigger more selling.

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(DALLAS) — Information for some 73 million current and former AT&T customers was recently posted on the dark web in a data breach, the telecommunications company confirmed on Saturday.

“AT&T has determined that AT&T data-specific fields were contained in a data set released on the dark web approximately two weeks ago,” the Dallas-based company said in a statement.

AT&T said the affected data set appears to be from 2019 or earlier and impacts approximately 7.6 million current customers and approximately 65.4 million former account holders.

The data set included personal information such as Social Security numbers, AT&T said. It is unclear if the data originated from AT&T or one of its vendors, the company said.

“AT&T has launched a robust investigation supported by internal and external cybersecurity experts,” the company said.

In a note to customers, the company said that a “number” of AT&T passcodes have been compromised and that it reset the passcodes for all impacted current customers.

“In addition, we will be communicating with current and former account holders with compromised sensitive personal information,” the company said.

The compromised data does not appear to contain personal financial information or call history, AT&T said.

TechCrunch reported that it had informed AT&T on Monday that the leaked data contained encrypted passcodes that were easy to decipher.

This is not the first time the company has experienced issues this year. In February, an outage temporarily knocked out cellphone service for tens of thousands of customers in the U.S. The network disruption was caused by a software update, the company said at the time.

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(NEW YORK) — Kia’s K4 sedan, a sleek, compact four-door that debuted this week at the New York International Auto Show, has stiff competition — mainly from the Korean brand’s own sport-utility vehicles and crossovers.

American drivers, however, may soon become enamored with the sedan’s fastback styling and airy interior.

“We’re not all going to drive SUVs … people have different tastes and needs and desires,” Karim Habib, the head of Kia Global Design, told ABC News. “We wanted to make the sedan relevant for the future.”

Habib joined Kia in 2019, overseeing the brand’s exterior, interior, color and material teams. He’s also behind Kia’s “Opposites United” design strategy, which has helped Kia become a household name in the U.S.

The marque has received rave reviews for its EV6 and EV9 electric vehicles, Carnival minivan and Telluride SUV, and many Americans are now choosing Kia over its American competitors.

Habib spoke to ABC News about the brand’s direction, how autonomous vehicle technology is changing vehicle design and why Americans love their boxy SUVs so much.

The interview below has been edited and condensed for clarity.

Q: How would you describe Kia’s design strategy in three words?

Karim: Our design strategy is called “Opposites United.” It is really about embracing the contrasts in life. There are contradictions and unexpected surprises that happen every day … and that’s what makes life enriching, beautiful sometimes, what makes it poetic. That’s what we’re trying to do in an abstract way if you will.

Q: OK, so translate that philosophy to a car.

Karim: Our new K4 is a compact sedan. We tried to make it feel as lean, as sleek, as athletic, as elegant and dynamic as possible. It’s very much about horizontality, where we pull the lines from one side of the car to the other. But the contrasts are vertical, strict graphics. We combined flowing lines, surfaces with very rigid lines. And that pairing is maybe an example of “Opposites United.”

Q: What is your favorite vehicle type to design? An SUV? Sedan? Sports car?

Karim: Each one has its challenges. And each one has its little nuggets of fun that come with it. I would say everything. For me, designing things like a pickup or a van — things I haven’t had much experience with in the past — these are things that I really enjoy doing.

Doing a super sports car is also quite challenging. A car or vehicle with a very, very tight budget can also be a really creative process. I am quite lucky to be a car designer. There’s a lot of fun to be had in many of these segments.

Q: SUVs have gotten bigger over the last few years and the boxy design is in — your EV9 is one example of that. How long will the boxy trend last and how else can SUVs evolve in terms of exterior design?

Karim: The most important thing about design is being authentic. Good industrial design is authentic. That’s why boxy SUVs will always work. It’s a concept that’s meant to be about carrying people in comfort and safety … about having space. The boxy concept just makes sense. And it works particularly well now because we found ways, with technology, to do a box — but to do a cool-looking box, where you have big wheels, a long wheelbase, short overhangs. It’s still a box and looks great. If you look at old Jeeps and Defenders and Land Cruisers — these kind of vehicles were [a box]. So we have that type of connection to these types of architectures.

Q: Do you look back on your designs and say, I should have tweaked this or that? What would you change, if anything, about the EV9?

Karim: To answer your first question: All the time. I don’t think any creative … should be totally satisfied with their work. Designers always think we can do something better.

In the case of the EV9, it’s perfect [he laughs]. No, I am kidding. But I will not reveal it now.

Q: Kia’s vehicles — especially its electrics like the EV9 and EV6 — are getting more Americans interested in the brand. How important is a vehicle’s styling to a consumer?

Karim: Design has strategically been a part of our company’s philosophy, our macro strategy, for a while now. For our consumers, it’s really important to them in the purchasing decision. Design is always very high on the list. Obviously I am not very objective, but I do believe it’s extremely important.

I don’t believe we just style. I believe we try to think of how the product is used and how to improve the type of products … to make the customer experience better.

If we develop [products] in a way that makes the user’s life better and easier — in our case more comfortable and safer and more pleasant — then I believe we have improved people’s lives. And that’s good design in my opinion.

Q: Where are you taking the brand in terms of design?

Karim: We want to be a sustainable mobility provider. Our responsibility toward the environment is very important. It’s important to the brand and it will be very much in the future. To be able to provide a safe, nicely designed, comfortable object that’s affordable … that’s really what we’re about.

Q: A large percentage of Americans drive trucks and SUVs. Was there extra pressure to make the K4 a sexy or attractive sedan to the U.S. buyer?

Karim: I would say this: We believe that sedans are relevant and should be relevant in the future. Not everybody will want the same thing. We’re not all going to drive SUVs … people have different tastes and needs and desires. We need variety. And we wanted to make the sedan relevant for the future. So making it aspirational, something you wanted to have, was important to us. Maybe that’s why we wanted the K4 to be more sporty, more dynamic, more elegant.

Q: Another design trend that’s becoming more popular, especially in EV concepts: no steering wheels, no gear shifters, no side mirrors. What’s your take?

Karim: Autonomous driving technology is obviously coming. Sometimes we think it’s going to come faster, sometimes we think it might come slower, but it will come. And that requires new thinking. It requires us to reconsider the way we create the space that you live in when you move from A to B.

The technology that comes with it also requires you to design differently. There are lots of sensors and cameras and radars and lidars, so the exterior of cars is also going to change quite a bit because of that.

Yeah, it’s a trend — a movement, an evolution, that will come. We are just in the process of learning what it’s really going to be like for us designers.

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(NEW YORK) — The Powerball is expected to climb to $975 million for Monday night’s drawing after no ticket won the jackpot in Saturday night’s drawing, the lottery said.

The numbers drawn for Saturday’s $935 million Powerball jackpot were: 12, 13, 33, 50, 52 and red Powerball 23. The power play was 3.

If the jackpot had a winner, that person could have choosen a one-time lump sum payment, the value is expected to be $452.3 million, Powerball said.

The estimated cash value for Monday’s drawing is expected to rise to $471.7 million, Powerball said.

Saturday’s estimated jackpot was the fifth-largest in Powerball’s history and Monday’s drawing is expected to climb closer to the fourth-largest, which was a $1.08 billion prize won in California in July 2023.

There have been 38 consecutive drawings without a jackpot winner. The last winner was on Jan. 1, when a ticket in Michigan won an $842.4 million prize, according to the lottery.

The odds of winning the jackpot are 1 in 292.2 million, according to Powerball.

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