"Disney revenue in the quarter rose 8% to $23.5 billion, edging past estimates of $23.4 billion"
Good to see the trickle down economy at work again.
Good to see the trickle down economy at work again.
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Disney cuts 7,000 jobs after announcing better than expected financial results
- Thread starter Theater of My Mind
- Start date
The way for employees to share in the trickle down economy is to own stock in their own company. That's what I did.
Quite often the people getting laid off don't work in the parts of the company that are contributing to the growth. That's why they're getting laid off.
It depends on the company. I had a considerable number of un-exercised options in Hispanic Broadcasting when it was merged with Univision in 2002. Since Univision was a closely held private corporation, those of us with options (the general managers with a certain period of tenure, and four top corporate executives) were required to exercise all that were vested.
In that era, many of the post-consolidation radio companies that had done IPOs in the 1996-2000 period were at their peak. Radio One came out at, IIRC, $17 a share and was around $90 in 2000 and others were similarly at 3 to 6 times multiples of their IPO.
The sale of my HBC shares was my final divestiture from radio investments. I had decided to get out of the other radio stock-holdings I had around 2000 as they seemed overpriced; that turned out to be a stroke of luck as it was all downhill after that. Radio One hit $96 at the top and is under $6 today.
Ownership of shares of the company you work for, unless the result of employee benefit programs, is a double risk. If your job is lost due to a downturn it's like your shares are also declining. I had a neighbor who was a regional manager for Washington Mutual, and he saw his personal shares decline from being worth about $1.8 million to somewhere around $200 thousand before he realized that he had to sell...
We're talking about Disney. So DIS has almost doubled in value since Iger took over. You can bet Iger owns shares of DIS,
Kenny Rogers said it best: "You got to know when to hold em, know when to fold em."
If you are talking about the "Return of Iger" in Cinemascope and Dolby, the low was $78 in December and it is $112 today. That is more like 50%, not double. And the cause was industry wide, not related to Iger:
Media stocks were hit with major losses in 2022 as streaming subscriber growth waned and the advertising market weakened. Disney and Warner Bros. Discovery's stocks hit 52-week lows in late December
And the larger entertainment companies with a footprint in new media have increased at least as much since January, from Apple to Meta. Obviously Iger's return restored confidence and, thus, was a part in Disney's growth in that period, but to make him totally responsible is an exaggeration.
But, using 2008 as an example or going back to the even better one of "Friday the 13th" in 1989 which nearly nobody even came close to predicting, there are events that are not predictable. In nearly all the more recent ones since WW II, most investors and investment advisors have thought that we had a "sell off" and that things would snap back quickly.
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