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Report: big Disney cuts

By Times Staff
Published July 13, 2006

Walt Disney Co. will substantially reduce its work force and slash its annual output of films from 18 to eight - cutbacks greater than Hollywood had anticipated, Daily Variety reported Wednesday.

Additionally, the Hollywood trade paper said all the movies will be Disney-branded, suggesting diminished roles for its Touchstone label. The paper said a Disney announcement was expected within 10 days.

Disney wouldn't discuss the report. "We are constantly evaluating our business to make it better and more efficient," Disney spokeswoman Heidi Trotta said in a prepared statement.

Clearwater targeted by antipoverty program

The Florida Minority Community Reinvestment Coalition and Brandeis University said Clearwater will be one of the first sites targeted in its ambitious antipoverty program. The group's goal is to secure commitments from Florida financial institutions for $300-billion in loans over the next 10 years under the Community Reinvestment Act. Home ownership, workforce education and business revitalization will be among the areas addressed.

Developer gives $1-million to software company

EpicTide Inc., a St. Petersburg software company, has received a $1-million investment from a group led by Clearwater real estate developer Lee Arnold Jr. EpicTide, which is privately held and funded, develops security software primarily for health care and financial service companies. The company was founded in 2005 by Kurt Long, who last year sold an earlier start-up, OpenNetwork Technologies, to BMC Software Inc. of Houston.

[Last modified July 13, 2006, 06:44:16]