[MouseMan]

In a poll of 5,000 subscribers to Theme Park Insider's Web site, Universal Orlando's Islands of Adventure was named the world's best theme park.

Casting their ballots online, theme park fans also voted for the World's Best Theme Park Attraction: The winner was Islands' popular ride, Amazing Adventures of Spider-Man.

Disney World won the award for Top Kids' Attraction: the Buzz Lightyear's Space Ranger Spin ride at Magic Kingdom.

Employees take stock

Maybe it's a good thing Universal Orlando workers haven't received the employee stock-purchase plan they were promised.

"That's something we always wanted," said one theme park worker. It's also a perk that some workers say now-ousted Chairman Jean-Marie Messier vowed to get for them during a visit to Orlando last year.

But after the 31 percent decline in value that Universal SA's shares suffered in just one day last week after Moody Investor Service lowered its long-term debt to junk status, some workers are feeling fortunate.

"At least it's not like at Enron where management encourages you to buy the stock and then it's worthless," said one worker. He said the best investment hope now for employees is that the theme parks will be sold to a new owner with deep pockets, promising stock and an internal purchase program.

How much are parks worth?

So how much would Universal's two Orlando theme parks be worth if they were sold as a package but separately from the rest of the Vivendi's entertainment group?

Theme park consultants value them via the following formula: Assuming the estimated 2001 attendance of 12.7 million, with ticket revenue of about $600 million, and a similar amount of sales in food and souvenirs, you start with $1.2 billion. The economic multiplier most commonly used with theme parks is five to seven times cash flow to account for infrastructure -- presuming the attraction is in good shape.

That puts the minimum value of Universal Studios and Islands of Adventure at $8.4 billion. And that's without adding in the three hotels and CityWalk -- the restaurant and nightclub strip that is largely rented to individual operators.

But industry figures say it's unlikely that the Orlando parks would be sold by themselves but would probably be packaged with Universal's parks in Hollwood and those in which it owns minority interests in Spain and Japan.

All aboard

Better take an early train if you're relying on the Walt Disney World Railroad to exit Magic Kingdom. The recently refurbished line that circles the theme park is a great way for parents with tired kiddies in the rear areas to get to the front turnstiles without navigating through the busy Main Street pedestrian area.

Unless you wait too late. Disney's summer "Time Guide" given to guests at the front gate states that the train runs from 9 a.m. to "Closing time" that "varies with park hours and fireworks."

But sometimes the train quits running from the rear-park Toontown stop before the fireworks, leaving dozens of guests with no alternative but a long hike out. Employees say if you're depending on the train, better board at least 30 minutes before the park's scheduled closing time.

Dilapidated dragons

Even a monster needs a makeover now and then. An Islands of Adventure worker points that out in a letter published in a recent employee newsletter -- saying that beasts guarding the entrance to the Dueling Dragons roller coaster are faded and need repainting.

Bob Gault, Universal's president, who has been on a massive spruce-up campaign at both Islands and Universal Studios, promised in a written reply to have the dragons painted. He said the coaster tracks are also due for a new coat.

Not so live at MGM

Live entertainment was promised last month when Disney's ABC television network announced a new show at MGM Studios to promote its fall lineup. A spokeswoman said to expect a star-studded program.

It turns out that the stars are there on video and the "live" part of the show is a Disney World host.

Still, an ABC press release this week said such stars as Ben Affleck, Bonnie Hunt and news anchor Diane Sawyer will appear. The show, "Get Happy With ABC," runs from July 1 through Oct. 5. A Disney World publicist says there will be some live stars appearing later this summer, although who and when hasn't been announced.

Conference planned

The 35th Governor's Conference on Tourism will be Aug. 11-13 at the Gaylord Palms Resort & Convention Center in Kissimmee. Organized by Visit Florida, the state's tourism marketing agency, the meeting will examine the effects of the Sept. 11 terrorist attacks on the state's largest industry.
*********************************************** By Robert Johnson and Todd Pack | Orlando Sentinel Staff Writers

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