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    Disney CEO Bob Iger to hold town hall with employees on Monday

    Disney Chief Executive Bob Iger will speak to employees at 9 a.m. PT Monday in a town hall.
    Iger said in a memo to employees he will discuss the future of Disney and answer questions about what’s ahead.

    Drew Angerer | Getty Images News | Getty Images

    Disney Chief Executive Bob Iger will speak to employees at 9 a.m. PT Monday in a town hall, marking his return to the company.
    Iger said in a memo to employees he will discuss the future of Disney and answer questions about what’s ahead. He’ll speak from the Walt Disney Studio Lot in Burbank, California. The memo was obtained by CNBC.

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    Hightower’s Stephanie Link buys shares of Disney, says they’re ‘attractive’ after Bob Iger’s return

    The town hall will come just a week after he was reinstated as CEO, replacing Bob Chapek in a stunning turn of events.
    “On Monday, I will be returning to the Walt Disney Studio Lot, a place I have always loved. I’m eager to be rejoining dear colleagues and meeting new team members who’ve become part of our company this past year,” Iger wrote in the message.
    Iger has already started changing things at the company, which he led for 15 years until he stepped down and handed the reins over to Chapek in early 2020.
    On Monday, the day after he took over the CEO job, Iger said the company would reorganize its media unit and announced the departure of that unit’s boss, Kareem Daniel, who was Chapek’s right-hand man.

    Read more about the Iger-Chapek saga

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    Here’s why you may want to say ‘no’ to a store credit card offer this holiday shopping season

    In the holiday shopping rush, you may be tempted to say yes when asked if you want to apply for a store credit card.
    Here’s why you may want to think twice.

    Prostock-studio | Istock | Getty Images

    In the rush at the store checkout this holiday season, you may be tempted to say yes when asked if you want to apply for a store credit card — especially if you’re offered extra savings on that day’s purchase.
    But there is good reason to think twice this season before signing up — soaring interest rates could mean you’ll ultimately pay more than you save from any perks a store brand offers.

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    The average retail credit card charges a 26.72% annual percentage rate, which measures how much it will cost per year if you carry a balance, according to a recent analysis by CreditCards.com.
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    Some brands are charging as high as 30.74%, which is “crazy high,” according to Ted Rossman, senior industry analyst at CreditCards.com.
    Overall, variable credit card interest rates have recently climbed to 19.14%, according to Bankrate.com.
    The higher rates come as all kinds of borrowing has become more expensive as the Federal Reserve works to combat record high inflation.

    “If you’re going to carry a balance, it’s definitely a big risk,” Rossman said.

    Which brands tend to charge most

    Retail credit cards generally come in two varieties: a store-branded credit card or a card co-branded with other names, often Visa or Mastercard.
    Store-only credit cards are now charging an average of 28.22%, while retail co-branded cards are charging an average of 25.01%, CreditCards.com found.
    Some brands tend to charge higher rates.

    Those that may charge maximum APRs of 30.74% include the Speedy Rewards Mastercard, Kroger Rewards World Elite Mastercard and nine brands associated with Kroger, according to CreditCards.com.
    But borrowers may get better deals on those cards based on their credit records.
    Other store-only cards may charge 29.99%, including Big Lots, Discount Tire, Jared, Kay Jewelers, Piercing Pagoda, Sterling Family of Jewelers and Zales, CreditCards.com reports.

    Tips to keep in mind

    As inflation has continued to push consumer prices higher, more than a third of shoppers — 35% — say they may apply for a retail credit card this year, up from 29% last year, according to a recent LendingTree survey.
    “It’s really important that you understand what you’re getting into before you apply,” said Matt Schulz, chief credit analyst at LendingTree.
    It may help in the long run if you resist accepting an offer at checkout on the spur of the moment and instead dig deeper into the terms and conditions before signing up later, he said.

    Borrowers should also be wary of deferred interest offers, which enable consumers to take advantage of 0% introductory rates. But once those expire, they may be charged retroactive interest on their balances.
    “Be especially wary if a store card is offering a deferred interest promotion,” Rossman said. “That retroactive interest can really hit you.”
    You may also want to consider alternative borrowing methods.
    While a big ticket purchase can offer substantial savings on a store credit card, the potential rewards through a general purpose credit card may be even more generous or better match your spending style, Rossman said.

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    Movie theater stocks pop after report says Amazon plans to spend $1 billion on releases

    Cinemas stocks got a boost after a report surfaced that Amazon plans to spend $1 billion a year on theatrical film releases.
    The movie theater industry has struggled to return to prepandemic levels because of a lack of film content.
    A theatrical commitment from Amazon would be a confidence booster for the industry.

    Jeenah Moon | Reuters

    Cinemas stocks got a boost Wednesday after a report said Amazon plans to spend $1 billion a year on theatrical film releases.
    The tech company plans to make between 12 and 15 movies for movie theaters each year, Bloomberg reported, citing people familiar with the matter. A smaller number of films will be produced in 2023 as Amazon builds up its output, the report said.

    Cinemark jumped 11% on the news, with IMAX up 7% and AMC up 5%.
    Amazon declined to comment.
    Amazon has deepened its investments in original content over the years through its Prime Video streaming unit, as well as its movie and television studios. The company spent $13 billion on content for its video and music streaming services last year, up from $11 billion in 2020, as it looks to remain competitive in the crowded media landscape. 
    Earlier this year, the e-retailer bolstered its media ambitions when it acquired legendary movie maker MGM Studios for $8.45 billion. 
    Amazon founder and executive chairman Jeff Bezos has made no secret of his desire to expand the company’s media business, and he has long believed that it can help drive Prime subscriptions and additional purchases on its core e-commerce site. 

    Amazon has released movies in theaters in the past. It premiered the first two episodes of its Lord of the Rings series in cinemas for a limited window, and its 2017 comedy “The Big Sick” was shown in theaters. But the company has primarily launched its original content directly on the Prime Video service.
    While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, its a positive sign for the movie theater business, which has struggled in the wake of the pandemic.
    Audiences have returned to cinemas, but because the production pipeline was stalled in 2020 and 2021, fewer movies have been released in cinemas in 2022. Blockbuster films continue to drive significant, sometimes record breaking, domestic box office numbers, but without a steady slate of new content, the overall industry remains significantly below prepandemic levels.
    There has been about one-third fewer wide releases — films that debut in more than 2,000 theaters — and that has meant that the overall box office is down about one-third as well compared to 2019.
    “We certainly applaud content makers when they decide to spend on quality movies,” said Jeffrey Kaufman, chief content officer and senior vice president of film and marketing at Malco Theatres. “But to date, no streaming company has committed to a robust theatrical distribution model, including Amazon. We would love if any streamer would support the theatrical space with wide quality releases.”
    Already, 2023 is expected to be a stronger year at the domestic box office, as production levels returned to normal in 2022, but Amazon’s additional film commitments gives the industry another confidence boost.

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    TSA sees ‘concerning’ rise in number of firearms at security checkpoints – and most are loaded

    Of the 5,832 firearms stopped so far this year, as of Monday, nearly 88% were loaded, according to the Transportation Security Administration.
    The total number is quickly catching up to last year’s record of 5,972 – or approximately 17 guns a day.
    It’s legal to travel with a firearm – but only if it’s declared with the airline before the flight, unloaded and packed correctly inside checked luggage.

    “I forgot.”
    That’s the number one reason Transportation Security Administration agents say they hear at airport security checkpoints when they catch a passenger with a firearm.

    Of the 5,832 firearms stopped so far this year, as of Monday, nearly 88% were loaded, according to the TSA. The total number is quickly catching up to last year’s record of 5,972 – or approximately 17 guns a day.
    The news comes ahead of the busiest travel time of the year – when nearly 55 million Americans are estimated to be traveling this Thanksgiving, according to AAA – just shy of pre-pandemic levels. 
    “It’s very concerning because firearms are prohibited in the checkpoint – and certainly onboard the aircraft,” TSA Administrator David Pekoske told CNBC. “We’ve seen an increase nationally…  [and in] parts of the country where open carry and concealed weapons permits are higher, [that] generally indicates we’ll find higher weapons at our checkpoints.”

    Top 5 airports for TSA gun catches, through Nov. 21

    Atlanta’s Hartsfield-Jackson International Airport (ATL) 407
    Dallas/Fort-Worth International Airport (DFW) 340
    Houston’s George Bush Intercontinental Airport (IAH) 268
    Nashville International Airport (BNA) 185
    Phoenix Sky Harbor Airport (PHX) 172

    It’s legal to travel with a firearm – but only if it’s declared with the airline before the flight, unloaded and packed correctly inside checked luggage. According to the TSA, passengers caught with guns were fined $52 million in civil penalties over the past three years.
    “I have total confidence in our transportation security officers to stop these,” said Steve Wood, the Federal Security Director for the TSA in Tennessee. “But we need the public’s help in not bringing them.”

    Atlanta tops the list because it’s such a large airport, Pekoske said. “There’s just more people moving through Atlanta airport.”
    To date, Atlanta is 100 shy of last year’s record of 507. However, three of the top 5 airports on the list – DFW, IAH and BNA – have already broken records for the number of firearms stopped at security checkpoints in 2022.
    Just last month, Nashville’s airport broke a record with the number of firearms found in a single year at 170, beating last year’s record of 163. That number has since jumped to 185.
    “We’ve moved up on the list – from number 6 to number 5 and then number 4,” Wood said.
    Part of the reason, he says, is that in July 2021, the firearm laws changed in Tennessee to not require a permit to carry a firearm. “During that first month we saw 25 firearms – which was the biggest month we’ve ever had,” Wood told CNBC.
    According to TSA officials the number of firearms intercepted at Nashville is 2.5 times higher than the national rate – or, one firearm for nearly 37,799 passengers screened. 
    It is not a federal criminal offense to bring a firearm to a checkpoint. However, the agency has the authority to impose a federal civil penalty against those who do.
    According to the TSA, getting caught with a firearm carries a civil fine of $1,500. If the gun is loaded, that figure jumps to $3,000. For repeat offenders, the fines can go as high as nearly $13,910.
    “It’s a very expensive mistake, and it’s a very time consuming mistake as well,” Pekoske said. “It’s very likely that you will not be able to fly on the flight you had originally reserved, and sometimes passengers aren’t even able to fly that day, depending on the flight schedules out of the airport.”

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    Black Friday car deals are hard to come by even as prices ease. Here’s what to expect

    Buyers paid an average of $46,991 in October for a new car, which was $230 above the average sticker price.
    However, that’s down from $728 above sticker price earlier this year.
    You may be able to find some financing deals — i.e., a zero or low interest rate — but it’s likely you won’t be able to stretch the loan beyond three or four years.

    Newsday Llc | Newsday | Getty Images

    There was a time when Black Friday in the car-selling business meant a flurry of big sales events at dealerships whose lots were full of new vehicles.
    These days, with inventory still squeezed from supply chain disruptions, discounts are not as generous as they once were. And most autos still are not sitting on lots for long due to persistent demand — meaning dealers don’t have to provide much in the way of incentives for car buyers to make the purchase. 

    However, the situation is easing slowly with modest improvements in inventory on dealer lots as rising interest rates put pressure on affordability.
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    “We’re seeing a softening in the premium that people are paying above [sticker price],” said Ivan Drury, senior manager of insights at Edmunds.

    Buyers are paying less above MSRP than they were

    Last month, buyers paid an average of $46,991 for a new car, which was $230 above the average sticker price — the manufacturer’s suggested retail price — of $46,761, according to Edmunds. In January, however, buyers were shelling out $728 above MSRP.
    By comparison, in October 2019 the average amount paid for a new car was $37,878, which was $2,653 below the average MSRP of $40,531.

    For cars that come with a discount, the average in October was about $882, according to a joint forecast from J.D. Power and LMC Automotive. That’s down 44.7% from a year ago and marks the sixth consecutive month under $1,000.
    The average number of days that cars sit on dealer lots before being sold was 19 days last month, according to the J.D. Power/LMC estimate. That compares to 74 days in October 2019.
    And, about half of vehicles (52%) are sold within 10 days of arriving on lots.

    Financing deals are re-emerging — with caveats

    While discounts remain minimal, financing deals are starting to return after disappearing for some months, Drury said. For buyers with strong credit, 0% financing or low financing (say, 1.9% or 2.9%) are available on some cars.
    However, those deals may not let you stretch the loan beyond three or four years, Drury said. That means paying less in interest overall, but facing higher monthly payments.
    For instance, financing $40,000 at 2.4% for 36 months results in monthly payments of $1,153, according to Edmunds data. Total interest paid over the life of the loan would be $1,497.

    That compares to financing the same amount for 72 months at 6.9% and having monthly payments of $680 — but paying $8,963 in interest.
    Having a car to trade in remains your best negotiating chip to bring the cost of a new car down, Drury said. While used car prices also are softening, values remain elevated. The average trade-in equity for October was $9,297, which is $598 more than a year ago but down $820 from June’s peak, according to the J.D. Power/LMC forecast.

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    Potential News Corp, Fox reunion faces opposition from large shareholder

    Rupert Murdoch’s proposed recombination of News Corp and Fox Corp. is facing opposition from one of its largest shareholders.
    Independent Franchise Partners, which owns shares in both companies, doesn’t believe merging the companies again would show News Corp’s true value.
    A special committee was formed in October to assess the proposed merger.

    Rupert Murdoch, Chief Executive Officer of News Corp.
    Getty Images

    Rupert Murdoch’s proposed plan to reunite News Corp and Fox is facing opposition from one of the largest shareholders in both companies, Independent Franchise Partners. 
    The London-based firm believes other alternatives, such as a breakup of News Corp, should also be explored. It also thinks a recombination wouldn’t realize the full value of the company, a spokesperson confirmed to CNBC on Wednesday, following an earlier report from The Wall Street Journal. 

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    Independent Franchise Partners is one of the largest shareholders in both News Corp and Fox that isn’t Murdoch. It holds roughly 7% of class A shares and more than 6.5% of class B shares in News Corp, as well as roughly 6% of Fox’s class A shares, according to FactSet. 
    The Murdoch family trust controls roughly 40% of the voting rights of both companies. Murdoch split the companies in 2013, and remains the chairman of Fox and executive chairman of News Corp, while his son Lachlan Murdoch is CEO of Fox and co-executive chairman of News Corp. 
    Representatives for News Corp and Fox declined to comment on Wednesday. During a recent earnings call with investors, Fox said there was no update from the special committee regarding the proposed transaction. There’s no certainty the merger will occur. 
    Last month, News Corp, the owner of Wall Street Journal publisher Dow Jones, announced it formed a special committee of board members to consider a possible deal. The proposal would once again merge the company with Fox, which was left over from the $71.3 billion sale of Twenty First Century Fox to Disney in 2019. Fox owns right-wing TV networks Fox News and Fox Business, which is a CNBC competitor. 

    What Murdoch is thinking

    Bringing the two companies together would allow Murdoch to consolidate leadership in his media empire and cut costs at a time when the audience is shrinking for both print media and cable-TV as readers and viewers increasingly receive their news from other outlets, like social media, online and streaming services. 

    The thinking behind the reunion is that it would simply give the merged company greater scale to compete at a time when media firms are competing for subscribers and digital advertising spending, said people familiar with the matter, who declined to be named.
    A merger would also allow for certain assets, such as Fox’s ad-supported streaming service Tubi, to easily cross into the U.K. and Australian markets, and would open it up to more sports-betting business opportunities, they said.
    Also, while it’s not the rationale behind proposal, a combined company would also have more firepower to make acquisitions, as well as better ability to return capital to investors at a quicker rate, the people added.
    Independent Franchise Partners told the Journal that a straight equity exchange between Fox and News Corp would dilute and delay the realization of News Corp’s substantial intrinsic value.
    The firm wouldn’t oppose a recombination so long as it was done in a way that would see News Corp shares valued at more than $30. However, it believes the only way to realize that share price is to sell parts of News Corp, which was trading at around $18 on Wednesday. 
    This is not the first non-Murdoch shareholder to push back on the proposed deal. Earlier this week, Irenic Capital Management said it sent a letter to the special committee saying Fox didn’t serve News Corp’s strategic goals, and, like Independent Franchise, believes News Corp shares are undervalued. 

    Irenic, which holds about 2% of News Corp’s class B voting shares, said the company is undervalued, and instead pushed the special committee to consider spinning off its digital real estate assets and Dow Jones. 
    Selling off these assets would be harder than combining the two companies, said the people familiar, and individual businesses could lose the benefit of being part of a larger company.
    A spokesperson for Irenic didn’t comment further, but pointed to an analyst’s commentary on the proposed transaction.
    “Every investor I’ve spoken to in the last 10 years on News Corp has expressed that they think the company is way too complicated and should be simplified by selling assets or spinning off assets,” said Craig Huber of Huber Research Partners. “Putting the two together makes no sense to us. … The problem is they did not go far enough after they separated out News Corp in 2013.”
    Airlie Funds Management, which owns a small stake in News Corp, has also said it doesn’t think putting the two companies together would increase value, The New York Times previously reported, and wouldn’t support a merger unless Fox paid a significant premium to News Corp’s stock price or did another deal simultaneously, such as selling off News Corp’s real estate assets.
    Fox’s class A shares were trading up slightly on Wednesday, while News Corp class A stock was up 3%. Fox’s market value is nearly $17 billion, while News Corp’s was more than $10.5 billion. 

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    The future of parking is in New York — and it costs at least $300,000 per space

    Hidden deep below some of New York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces.
    The spots are only accessible to residents of buildings where the apartments will set you back several million.
    The rare amenity offers privacy and convenience to some of the city’s wealthiest residents.

    Hidden deep below some of New York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces where high-end vehicles are parked and retrieved by robotic parking systems. 
    The high-tech spots are a rare amenity in the Big Apple, and if you want your car to occupy one of these VIP spaces you’ve got to be ready to fork over hundreds of thousands of dollars.

    The spots are only accessible to residents of buildings where the apartments will set you back several million, and if you want your car to live there too you’ll need between $300,000 to $595,000 more to score some precious space in the private garage.
    CNBC found two buildings in Manhattan offering spots for sale inside a so-called robo-parking garage.
    The first is located at 121 East 22nd Street near NYC’s Gramercy Park where a 140-unit condo building developed by Toll Brothers offers 24 automated parking spots.

    High above the 22nd St condo’s underground garage is the wraparound terrace of a 5-bedroom duplex apartment that recently sold with a $300K parking spot for $9.45 million.
    DroneHub Media

    Earlier this month, Lori Alf, a full-time resident of Florida, picked up one of the rare parking spaces for $300,000 when she purchased the building’s priciest unit: a 5-bedroom duplex spanning almost 3,800 square feet.
    She told CNBC the package deal, which totaled $9.45 million, was a gift to her children who are now spending more time in New York.

    The sun-drenched living area inside Lori Alf’s penthouse unit at 121 E 22nd St.
    Toll Brothers City Living

    Now when Alf or her kids want to park the family’s Porsche Cayenne in the condo’s garage they pull up to a kiosk where the wave of a small radio frequency ID tag unlocks access to a subterranean car lair where no humans are allowed. 
    Pressing a button on the kiosk sends a jolt of life into an empty metal pallet one level below. It slides across a track onto a powerful lift that sends the empty pallet up toward ground-level to meet the Alfs who can then carefully position their car on top of it.

    As a vehicle enters the automated system a motion board delivers messages to the driver to assure the vehicle is positioned properly for the parking process to begin.

    Before their wheels are whisked away, a set of cameras scan the system’s entryway to confirm the car’s trunk and doors are all closed — and that there are no objects or humans left behind that might obstruct the automation. 
    When the scanners deliver the “all clear,” the pallet, with car on top, disappears into the floor, pausing briefly as it descends into the basement to spin the vehicle 180 degrees before slotting it into one of the empty spaces.
    The system can lift and shuffle two dozen cars across four rows and two levels. 

    A car parked on the lower level of the automated parking garage at 121 E 22nd St where prices start at $300K per spot.

    Retrieving the car is a lot like making a selection from a giant vending machine. Residents swipe their RFID tags once again, and the system delivers their cars in about 2 minutes and 15 seconds.
    One of the perks for Alf: She never has to put the car in reverse to exit the building.
    “The car is turned for you by the robot,” she told CNBC. “Who doesn’t live for a robot that sets you in the right direction in NYC?”
    Pedro Fernandez, a local sales representative for Klaus Parking, the company that sold the German-made parking system to the building’s developer, told CNBC it’s the most automated garage he’s ever installed in Manhattan. 
    The company’s top-tier system typically costs between $50,000 and $70,000 per spot installed. Fernandez said developers invest over a million dollars in the intelligent parking infrastructure because it’s super efficient at arranging vehicles and maximizing space.

    The view inside the robo-parking machine at 121 E 22nd St reveals a system of pallets and hydraulic lifts that maneuver cars around a two-tier subterranean parking structure.

    “There was no other way to park 24 cars,” Fernandez said of the garage space under 121 East 22nd Street.
    The self-parking system can unlock more spaces per square foot because it doesn’t require the ramps and driving lanes you see in most conventional garages, he said.
    ​”As crazy as it may sound, $300,000 for a residential parking spot is considered a reasonable price in New York City,” said Senada Adzem, a Florida-based real estate broker at Douglas Elliman, whose team represented Alf in her recent purchase.
    Adzem told CNBC spots in the system that include a charging plug for electric vehicles will run you $350,000. And whether it’s electrified or not, every parking spot carries a $150 per-month maintenance fee.
    “The overall lack of parking in the city, an ongoing problem with no end in sight, will only escalate such pricing,” said Adzem. 
    She believes short supply could turn the seemingly lavish expense into a money-maker for owners, who could eventually resell their spot at a profit.

    A car inside the automated parking garage at 520 West 28th where spots start at $450K.
    Martien Mulder & Related

    Across town, parking spots are even pricier in a building that was once home to popstar Ariana Grande and currently houses rock musician Sting and his film producer wife Trudie Styler.
    The price to park at 520 West 28th Street starts at $450,000. 

    The $16.5M penthouse at 520 W 28th St unfolds over the 15th & 16th floors, featuring a 2,040 sq ft terrace that wraps around the building’s curvaceous glass facade.
    Colin Miller / Related

    The luxe residence, designed by famed architect Zaha Hadid and developed by The Related Companies, includes a 4,500-square-foot penthouse currently on the market for $16.5 million. And according to listing agent Julie Pham of Corcoran, a parking space in the building’s garage can cost upwards of $595,000 more per vehicle.
    “I’d never seen anything like it before,” Pham said of the unique amenity.
    Residents can use an app to communicate with the so-called “secured parking portal” and remotely start the automated retrieval process so the car is ready to go when they are.

    The $16.5M penthouse listing includes ten rooms and almost 4,500 sq ft of indoor living space, the asking price does not include parking.
    Colin Miller / Related

    While Pham wouldn’t reveal the identities of any past or present clients, she did tell CNBC the automated parking was a major draw for one famous resident, who had a security team examine the parking area prior to moving in.
    The unnamed celebrity’s representatives OK’d the deal in part because the star could enter and exit the garage in total privacy, Pham said.
     “They liked the idea that you didn’t have to engage with a valet or an attendant, or that anyone couldn’t come in right behind you,” she said.
    And during the pandemic, the broker said, residents who wanted to minimize their exposure to Covid-19 loved that they could deposit and retrieve their vehicle without handing over their keys to a valet.
    While the automated spots are pricey, they’re not even close to NYC’s most expensive.
    In recent years, some condo developers have pushed their asking prices for a basic concrete-and-yellow-stripe parking spot to the $1-million mark, according to Jonathan Miller, president of Miller Samuel, a firm specializing in real estate appraisals and consulting. Still, he said, it’s unlikely a spot with a 9-figure asking price has ever lured in an actual buyer.
    “I never found evidence of their actual closings,” he told CNBC.
    Miller, who analyzed public records at CNBC’s request, said one of the most expensive parking spots sold in town last year was located at 220 Central Park South, where a parking space went for an impressive $750,000. Miller said, based on public records, it appears connected to an apartment in the building that traded for $16 million.
    “It’s really tough to track since most sales are embedded in the sale of a unit,” Miller told CNBC.
    And it’s even tougher to track sales of spots in the newer automated systems, because, in many cases the spots are actually licensed to buyers, not deeded and sold like most real estate, according to brokers.
    Miller said his best estimate for the going rate of a single NYC parking spot: “I think $300,000 to $400,000 is the sweet spot for new development.”

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    Walmart shooting suspect was disgruntled employee, law enforcement source says

    At least seven people, including the suspect, were killed Tuesday night at the Walmart Supercenter in Chesapeake, Virginia.
    A law enforcement official told NBC News that the shooter was a disgruntled employee.
    The Walmart shooting came days before Thanksgiving and Black Friday.

    Law enforcement work the scene of a mass shooting at a Walmart, Wednesday, Nov. 23, 2022, in Chesapeake, Va. The store was busy just before the shooting Tuesday night with people stocking up ahead of the Thanksgiving holiday.
    Alex Brandon | AP

    The suspected shooter in Tuesday night’s massacre at a Virginia Walmart was a disgruntled employee, a senior law enforcement official told NBC News.
    At least seven people, including the suspect, were killed at the Walmart Supercenter in Chesapeake, Virginia, as people were shopping for last-minute Thanksgiving items. The shooting also came days before Black Friday, when shoppers traditionally head to retailers such as Walmart to buy holiday gifts at bargain prices.

    CNBC has reached out to Walmart for a comment on the shooting and the investigation, as well as about any security concerns ahead of Black Friday.
    Walmart, in a Twitter post early Wednesday morning, said it was “shocked” over the shooting. “We’re praying for those impacted, the community and our associates,” the company said. “We’re working closely with law enforcement, and we are focused on supporting our associates.”
    In June, Walmart said it added a class to its store manager training program that focuses on spotting employees and customers who may need an intervention for mental health issues.
    A local hospital was treating other victims, NBC News reported. It wasn’t immediately clear how the shooter died.
    The Walmart massacre came days after a deadly mass shooting at an LGBTQ nightclub in Colorado Springs, Colorado, in which five people were killed.

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