Why Disney Is Sporting a Goofy Grin

Despite its highly publicized problems, Magic Kingdom execs now say the worst is over -- even for the Internet group

Trust Walt Disney to orchestrate a happy ending after what began as a particularly dismal week. On Jan. 31, the company announced it was putting to rest its three-year effort to create a viable Internet portal with Go.com and taking a $790 million writedown. Yet on Feb. 6, at a meeting in Anaheim with analysts at the company's soon-to-open California Adventure theme park, Disney execs took great pains to look like they hailed from the Happiest Place on Earth.

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