Apr 10, 2020 - Economy & Business

Amusement park operator Apex Parks Group files for bankruptcy

Dan Primack, author of Pro Rata

Theme parks across the country have been closed due to the coronavirus pandemic. Photo: AaronP/Bauer-Griffin/GC Images

Apex Parks Group, an Irvine, Calif.-based amusement parks operator owned by The Carlyle Group and Edgewater Funds, filed for Chapter 11 bankruptcy protection. It also disclosed plans to be acquired by a lender group led by Cerberus Capital Management.

Why it matters: While much of Apex's financial mess predates the pandemic — it closed an upstate New York park in February — this is a reminder of how lockdowns are devastating tourism companies beyond airlines, cruise lines, and hotels.

  • The bottom line: "The company has 10 entertainment centers and two water parks operating under such names as Big Kahuna’s, Sahara Sam’s, Boomers and SpeedZone in California, Florida and New Jersey.... Apex said the impetus for its bankruptcy filing was to reduce debt and it expects to resume operations." — Becky Yerak, WSJ

Go deeper: Media and entertainment industries pleased with coronavirus

Go deeper

Margaret Talev, Alexi McCammond
19 mins ago - Politics & Policy

The cliffhanger could be ... Georgia

Illustration: Sarah Grillo/Axios

It hasn't backed a Democrat for president since 1992, but Georgia's changing demographics may prove pivotal this year — not only to Trump v. Biden, but also to whether Democrats take control of the Senate.

Why it matters: If the fate of the Senate did hinge on Georgia, it might be January before we know the outcome. Meanwhile, voters' understanding of this power in the final days of the election could juice turnout enough to impact presidential results.

Go deeper (2 min. read)Arrow
Amy Harder, author of Generate
6 hours ago - Energy & Environment

Climate change goes mainstream in presidential debate

Photo illustration: Aïda Amer/Axios. Photo: Olivier Douliery-Pool/Getty

The most notable part of Thursday’s presidential debate on climate change was the fact it was included as a topic and assumed as a fact.

The big picture: This is the first time in U.S. presidential history that climate change was a featured issue at a debate. It signals how the problem has become part of the fabric of our society. More extreme weather, like the wildfires ravaging Colorado, is pushing the topic to the front-burner.

Go deeper (2 min. read)Arrow
Mike Allen, Margaret Talev, Alayna Treene
6 hours ago - Politics & Policy

Finally, a real debate

Photo: Morry Gash/AP

A more disciplined President Trump held back from the rowdy interruptions at tonight's debate in Nashville, while making some assertions so outlandish that Joe Biden chuckled and even closed his eyes. A Trump campaign adviser told Axios: "He finally listened." 

The result: A real debate.

Go deeper (1 min. read)Arrow