The problem with Disney stock predated the Disney World problem. But that demonized the company even more.
Chapek had six months to fix the problem in Florida, and as far as we know, nothing was done.
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The all powerful disney company.
- Thread starter tall_guy1
- Start date
The problem with Disney stock predated the Disney World problem. But that demonized the company even more.
Chapek had six months to fix the problem in Florida, and as far as we know, nothing was done.
The problems in Florida go way beyond Disney.
Desantis would have gone after Disney no matter what for the political points.
Moved.
The same could be said about Alphabet (although that company has several top people) or Apple. The key to keeping those companies successful is the top people below the chairman.
Alphabet is really stagnant besides search they have a lot of failed products. Apple has a lot of tentacles at the top that run everything. Does Disney have that?
Some of their divisions are well run. Eisner and Iger preached synergy. There was less of that with Chapek.
This article is from 2015:
The Disney Synergy Machine: What Businesses Can Learn
It appears that the stars are aligning and twinkling once again for Disney. The Star Wars franchise Disney acquired from Lucasfilm in 2012 for $4 Billion is expected to pay big dividends as the Mouse House gets ready for the December release of the latest in the Star Wars series.
Disney CEO Bob Iger held a company town hall, where he discussed his vision for the future:
A hiring freeze will stay in place.
A hiring freeze will stay in place.
The big difference is that Disney is subject to significant outside influences. Weather and hurricanes and such affect the parks and even the cruise ships. Unpredictable performance of movies that can cost over $500 million between production and promotion can impact the bottom line. Foreign politics can seriously affect movie exhibition and amusement parks as well as branded merchandise.
Apple does not sell their own branded content to any extent; they sell "stuff" that comes in boxes and is less susceptible to the variants that impact Disney.
Disney tried to replace parks, travel and theater revenue with streaming income during the pandemic but they found themselves with a more limited "inventory" of streamable product at a time when many new or enhanced streaming services were competing for the same money. When consumers have to make choices of paid streaming products, Disney found that they did not win "as big" as they had hoped.
Here is Bob Iger's second stint at Disney.
Arthur Bocher is out at Disney.
Someone mentioned this earlier in this thread:
Chapek was in a bit of a no win situation in that case. When the "don't say gay" bill became a thing, Chapek initially decided to stay out of it. Primarily because he didn't want to take Disney into a dog fight, but also, he knew that Florida is ruled by a political trifecta - a republican governor with republican majorities in both state houses...So even if he would have protested, it would not have any chance of impacting the vote or changing lawmakers' minds. The republicans were going to vote in favor of whatever their governor wanted. Unfortunately that stirred the ire of many Disney employees and fans, who knew Disney had often made strong stances in favor of LGBTQ+ issues in the past, and was one of the first companies to issue things like benefits for same-sex partners, well more than a decade before same-sex marriage was legalized. That's when the drama really started, and of course, Ron DeSantis takes direct aim at any one or any company or entity that dares have an opinion that differs from his.
Regardless, the lead sponsor of the don't say gay bill is out. He resigned from the FL state legislature after being indicted on fraud charges:
Florida Republican who sponsored ‘Don’t Say Gay’ resigns after federal indictment
Florida Republican who sponsored ‘Don’t Say Gay’ resigns after federal indictment
His trial is set for Jan. 11 in Gainesville federal court.
www.politico.com
Looks like Ron DeSantis is still not done putting the screws to Disney for the sin of their former chairman daring stand up to him on the "Don't Say Gay" bill:
www.nbcnews.com
DeSantis moves to bring Disney's special Florida district under direct state control
DeSantis moves to bring Disney's special Florida district under direct state control
“The corporate kingdom has come to an end," a spokesperson for Florida Gov. Ron DeSantis said.
www.nbcnews.com
All of this is very anti conservative. The puts a private company theme park under control of the state, which is the very definition of socialism. So far the company really hasn't responded to any of the pronouncements from the state. They seem to be operating as though nothing has changed. Obviously this will hit a wall at some point.
When Bob Chapek got the boot and Iger returned for his second stint to try and steady the ship and begin selecting and grooming another successor, his first matter of business was to reach out to and communicate with his employees and staff. Shortly thereafter, he supposedly reached out to a number of Florida politicians to try and clear this mess up and even hoped for a bit of a reprieve for Reedy Creek since he was back in the drivers' seat at Disney. Looks like that wasn't successful. Incidentally @frankberry if this thread is moving too far into the realm of politics and you wish to move it, I get it, thought that wasn't really my intention when I posted the stories above.
I don't see it that way. Having a private company take on government functions is feudal in concept. The Florida situation will not put Florida in charge of the park operation; it will restore county authority over everything from zoning to refuse collection and disposal.
It sounds like Florida wanted the Disney operation so badly long ago that they gave up responsibilities and functions that seldom are granted to private entities.
The kind of "Company County" that Disney had been granted is very rare in America. I saw a list of rather similar situations elsewhere and they could be counted on my fingers with some left over.
For anyone interested in the hows and whys of the original setup and agreements, and how Disney initially chose Florida and that area specifically, there's a book called "Married to the Mouse: Walt Disney World and Orlando" that I read several years ago now (it was published in 2003) and I remember finding parts of it very interesting back then. It also explained how, by operating their own fire and police departments under the Reedy Creek district, the company could very much control how much information was shared publicly and when, how certain incidents were very tactfully managed internally, etc.
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So far, this is related to a media company that also produces TV programming and entertainment products that affect radio and TV. So discussing the way government regulates various aspects of it is reasonably relevant.
And that is exactly the sort of thing that should not be allowed to a private company. This means that incidents and situations ranging from pollution to injury cases can be highly controlled or hidden.
This is the kind of "company town" situation that was rampant around the turn of the 19th to the 20th Century which governments finally brought under control by restricting the monopolies, the "robber barons" and the most unsavory practices of unbridled capitalism prior to WW I.
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