Recession hits Santa, who is getting a new landlord

At least the recession isn't forcing Santa Claus to move. He's only getting a new landlord.

The nation of Finland is selling its stake in Santapark, home to Father Christmas, after being hit hard in the global recession and facing a sharp economic contraction this year, according to a Reuters story.

Santa's Holding Oy will buy the 32% stake from Finland. Local investors also own shares in the park, which has struggled financially since opening in 1998.

The Reuters story reported that Finland expected a 5% drop in the economy this year, and a contraction of 1.4% in 2010, with growth expected to return in 2011.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum