This week President Donald Trump paid his first official visit to India, where leaders signed a $3 billion deal to buy U.S. military equipment and committed to further open the country’s market to U.S. liquified natural gas imports.
The trip was punctuated by a rally, dubbed “Namaste Trump,” in the city of Ahmedabad’s cricket stadium that drew more than 100,000 attendees. The event came just a few months after Indian Prime Minister Narendra Modi visited the U.S. and was treated to a similar celebration in Houston. That one was called “Howdy Modi.”
The White House described the U.S.-India relationship as a “vital partnership,” noting that the countries exchanged more than $142 billion in trade in 2018. But Trump and Modi weren’t able to reach a trade deal during this visit. Still, observers say strengthening ties with India isn’t only about trade: With its democratic system and a population set to eclipse China’s by 2027, India represents a strong ally for the U.S. that could balance out China’s dominance in the region. (Also, it’s worth mentioning that India is home to more Trump-branded properties than any country outside the U.S.)
The goodwill fostered during Trump’s visit to India could be eclipsed by the rising economic threat from the COVID-19 virus, which roiled stock markets this week and is sending shock waves across global supply chains.
ModelLand
Smart In a Shot
If you’re planning a Southern California vacation, there’s a new theme park to add to your itinerary: Tyra Banks’ ModelLand.
Opening this May in a 21,000-square-foot space at the Santa Monica Place mall, ModelLand offers guests the chance try on fashion modeling for a day. Smize and tooch to your heart’s content — if you’re into that kind of thing. Tickets range from $59 for general access, up to almost $1,500 for a “VIP experience” that includes a consultation with the park’s fashion and beauty expert, wardrobe changes, photographs, a gift bag and — among other things — a selection of artisanal truffles.
It’s Banks’ latest experiment in making the modeling profession consumable, and given the years-long success of her show, “America’s Next Top Model,” this theme park idea could have potential. Maybe? (That said, her dalliance in writing young adult fiction wasn’t exactly a smashing success.)
The Numbers
Speaking of theme parks, Disney CEO Bob Iger stepped down from his post this week after 45 years with the company. Let’s look back at his reign over the Magic Kingdom.
6
In 2005, Iger became Disney’s sixth CEO, succeeding Michael Eisner (who’d run the company since 1984).
$71.5 billion
That’s how much revenue Disney reported in 2019, up from $31.9 billion during Iger’s first year at the helm, 2005. During Iger’s tenure, Disney grew by acquiring massively popular properties, including Pixar, Marvel, Lucasfilm and much of Twentieth Century Fox — and expanding the brand into new markets, such as when it opened Shanghai Disneyland.
28.6 million
That’s how many subscribers Disney’s new streaming service, Disney Plus, had at last count. The service was in many ways the culmination of Iger’s work at Disney, but it was an expensive gamble. Like the other streaming services, Disney Plus is likely to lose billions of dollars for several years before breaking even.
$48 million
That’s how much money Iger made in 2019 — a 28% drop from 2018, but still among the highest chief executive salaries anywhere. Iger outearned the median employee at his company by a factor of 911 to 1 last year. The previous year, that ratio was 1,421 to 1.
Kevin Frayer/Getty Images
This week on the podcast
Episode 151: When CDC says “…this might be bad”
... it's bad. This week we're looking at past pandemics and their economic impacts as the U.S. braces for the possibility of a COVID-19 outbreak. (Listening time, 34:36)
Tell us what’s making you smarter at smarter@marketplace.org. We'd love to include your recommendation in a future newsletter.
The Kim family's backstory in "Parasite"
Marketplace reporter Kimberly Adams recommends this article in Foreign Policy that points out something you might have missed while watching the Oscar’s best picture this year. Two phrases in the “Parasite” script, “chicken place” and “king castella,” provide context for the family’s current impoverished state — and indicate that the Kims likely enjoyed a comfortable middle-class lifestyle before the (fictional) events in the movie occurred.
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Country music's unifying force
Listener Liz R. recommends the podcast “Dolly Parton’s America,” which she describes as a fun way to learn about country music. Parton wields the influence of “both spirit guide for third-wave feminism (a label she vehemently denies, but whose actions absolutely support it) and Mozart (if she were a man, that is),” Liz says.
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A comedy special … and so much more
Marketplace’s Sarah Menendez recommends Whitmer Thomas’ comedy special “The Golden One” on HBO. “It’s documentary, concert and stand-up all rolled into one,” Sarah says. “Thomas processes the grief of losing his mother, addiction and broken family relationships … I’ve never seen anything quite like it.”
This Make Me Smart newsletter is written by Erica Phillips.
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