PDA

View Full Version : Eisners MegaMansion


jfap
10-22-2002, 10:14 AM
I have heard that Eisner is building a MegaMansion in Naples, Florida. Does anyone know if that is true? Wondering if it is on the same scale as the one being built by the Enron crook (or was it Worldcom.crook?).

Eeyore2U
10-22-2002, 09:00 PM
Originally posted by jfap
I have heard that Eisner is building a MegaMansion in Naples, Florida. Does anyone know if that is true? Wondering if it is on the same scale as the one being built by the Enron crook (or was it Worldcom.crook?).

To compare Eisner to any Enron idiot is unfair. He may have made bad decisions but he is far from a crook and as far as building a mansion, if you got it build it.

Testtrack321
10-22-2002, 09:32 PM
Originally posted by Eeyore2U
To compare Eisner to any Enron idiot is unfair. He may have made bad decisions but he is far from a crook and as far as building a mansion, if you got it build it.

Yep. Esiner loves this company and wouldn't ever steal, thought his current methods are a little chincy, he still loves this company.

Bob O
10-22-2002, 09:53 PM
Im no fan of ME, but i also would say its not fair to compare him to the folks from enron!!!! While he has made bad decisions, be they because he was wrong or just incompetent, its a big difference from intentionally filling false financial statements to make your company appear viable when its not the case. ME may be wrong for disney at this time but i wouldnt call him a crook or corrupt.

Another Voice
10-22-2002, 11:18 PM
Comparing Eisner to the former management from Enron is unfair.

Eisner has taken far more money out of Disney than the people at Enron could have ever dreamed.

In one year alone Eisner's compensation was over three quarters of a billion dollars. Other years it's been only over half a billion, sometimes only a paltary quarter billion dollars. I've heard one guess that Eisner's total "compensation" from Disney is nearing $5 billion.

He went from not owning a single share of Disney stock to being the third largest shareholder - individual or institution. And all of those shares has been on the company's money too.

As for not being a crook in getting all that money - I think the widow that owns the rights to 'Winnie the Pooh' may have a different opinion...

And it's it like Eisner kept all that money for himself. A few choice words and his former friend Jeff Katzenberg gets a half billion. And a year on the job got Mike Ovtiz a quarter billion. At least Eisner is willing to share.

WDSearcher
10-23-2002, 09:27 AM
Gee, AV ... I thought all of that compensation and that stock was come upon legally. It's not as though he hid the compensation from anyone (the mere fact that we all have ME's latest salary rates at our fingertips is proof of that). Or that he stuffed the stock under the mattress or told everyone at Disney not to worry about the stock price while at the same time dumping his own shares. In fact, as the stock price went down, he continued to purchase. So .... he's just like the Enron people how, exactly?

:earsboy:

Bob O
10-23-2002, 05:19 PM
I can see AV's point in that the compensation was made by eisners own hand picked bone of cronies who didnt have the companies own best interest in mind when these deals were made.

EUROPA
10-23-2002, 07:27 PM
Originally posted by Another Voice
And a year on the job got Mike Ovtiz a quarter billion. At least Eisner is willing to share.

Wow..just think of how that money could have been spent on the parks. Mike Ovtiz up until that point wasn't his biggest accomplishment getting Letterman the CBS show? Yeah I can see how that transfers over to Disney :rolleyes: :mad:

jfap
10-23-2002, 10:00 PM
lighten up a little. All I was asking is if he is building a mansion on the grand scale of those other guys. Didn't mean to imply that he was a crook, just wonderin if the story about it being a MegaMansion were true. So does anyone know????

WDSearcher
10-24-2002, 08:07 AM
Originally posted by jfap
lighten up a little. All I was asking is if he is building a mansion on the grand scale of those other guys. Didn't mean to imply that he was a crook, just wonderin if the story about it being a MegaMansion were true. So does anyone know????
I think if you hadn't used the word "crook" in your original post, no one would have picked up on the analogy. But at any rate, no word here in FL that ME is building nearby. And that kind of thing would be likely to be announced. (As in, "Michael's building a mansion in Florida ... you suppose that means he's switching his base of operation?")

:earsboy:

KMovies
10-24-2002, 07:13 PM
I'm pretty sure that ME's compensation package is similar to that of CEO's of the Coke's, Pepsi's, Kodaks, GE's, Microsofts, Intels, and the list goes on and on and on. He did turn the company around in the 80's, when it needed help. He revived the animation unit - bringing us Mermaid, Beauty, Lion King, and all. He brought us MGM/Animal Kingdom/The Cruise Line/ DCA. Some were winners - others not. Point is - no one ever deserves that kind of money - but that is the life in the top! Recently, he has taken big hits as well.

Dznefreek
10-31-2002, 08:24 PM
but he is far from a crook Explain $50.00 1 day tix, $7.00 to park, $5.00 for a 16 oz. beer.

Disney was proud to say that they did not raise tix price when USF and SW did but they raised the price on everything else!

Eeyore2U
10-31-2002, 09:08 PM
Originally posted by Dznefreek
Explain $50.00 1 day tix, $7.00 to park, $5.00 for a 16 oz. beer.

Disney was proud to say that they did not raise tix price when USF and SW did but they raised the price on everything else!

Please show me where he did anything illegal.

Another Voice
10-31-2002, 09:39 PM
Please show me where he did anything illegal.
"Mr. Pooh, you'll simply have to wait your turn. Please wait in line behind Mr. Ovtiz. We'll get you in somewhere between Mr. Katzenberg and the Environmental Protection Agency. But if you'd like to come back next week we can probably get you in after the Disneyland Maintenance Injuries group and the Breach of Contract Mousekteers.

Or if want to take the chance that Mr. Robin Williams will cancel and that the I.R.S. won't take too long, you could check tomorrow. Oh, wait, I'm sorry, we've got the Flordia State Tax Board coming in then. Let me see, the sweatshop workers at nine, the widow of Scattman at ten, the estate of Peggy Lee at eleven - no tomorrow just isn't going to work at all..."

airlarry!
10-31-2002, 09:55 PM
Following up...

It might not be criminal what Cousin Mike has done over the years, but he has been accused by many, many people of unethical conduct. Personal, unethical conduct.

Read his own book. He even gloats about stuff that most people would consider conniving, dishonest, and unprincipled.

I've said it before. I used to be an Eisner fan when I waited with baited breath each year for the Birnbaum guide to regale me with the latest Disney expansion.

It is not until reading the Baron's posts, and AV's insider dope that I've become convinced that Ei$ner has profited directly from our loyalty.

And we have been willing accomplices...praising the 'expansion' of the resort without realizing a basic principle we learned in grade school:

That the addition of negative numbers is actually subtraction.

By adding stuff around the resort that fails to meet 'the standard' in an effort to pad the bottom line and increase the value of his options....that is subtraction in its finest sense.

WDSearcher
11-01-2002, 07:51 AM
Originally posted by Dznefreek
Explain $50.00 1 day tix, $7.00 to park, $5.00 for a 16 oz. beer.

Disney was proud to say that they did not raise tix price when USF and SW did but they raised the price on everything else!
If it's too expensive, don't go! You'll pay just as much for any theme park in the area, and there are several in the Six Flags chain where parking is $10. And a $5 beer? So ... don't drink. Bring your own and have one in the hotel.

Charging what Disney's charging may be annoying or frustrating or prohibitive for some, but it's hardly illegal.

:earsboy:

Andrew015
11-01-2002, 10:59 AM
So ME takes a few billion out of WDW here and there... big deal...
That's probably only enough money to fix what EVERYONE on the DIS complains about... (IE no air conditioning, unclean restrooms, poor maintance... etc.)

If ME really loved Disney as much as everyone says....
Yep. Esiner loves this company and wouldn't ever steal, thought his current methods are a little chincy, he still loves this company

Then maybe he'd just take his "Fair Share" and devote the rest back to the company. In other words, if I were in his shoes, I'd take enough of the money for a nice house and a few Corvettes... money to put future kids through college... and live a decent life... so in other words... 1 - 2 million might do me fine. I realize that his annual salary is a lot higher than this, so what is his need for these "compensations?"

I'm sure good old Walt wouldn't take this for his own personal pocket, and is probably rolling in his grave right now.


If it's too expensive, don't go! You'll pay just as much for any theme park in the area, and there are several in the Six Flags chain where parking is $10
So Disney world should just be for the upper middle class? I have many middle class friends who would love to go to disney, which started out as a family oriented park under Walt, and is now a $$$$ oriented park. Walt's vision was to create a place where people of all ages and backgrounds could come and enjoy his parks. I'd be willing to bet more families than not can't afford these ticket/food/water prices. Kind of a shame... but ME can swim in his billions like Uncle Scrooge.

I'd compare ME taking all of these "Compensations" like someone putting 5 people in a room for 4. It might be a stretch but.... 5 people in a room for 4 isn't against the law, won't get you thrown in jail, or is a mortal sin. But if you ask anyone on the DIS, it's just morally wrong, and the DIS Mouse police will give you a piece of their mind. ME taking billions in compensation isn't illegal or a sin. But no one sees anything totally wrong with this?? Meanwhile, his parks are going downhill quick.

WDSearcher
11-01-2002, 02:24 PM
[So Disney world should just be for the upper middle class? I have many middle class friends who would love to go to disney, which started out as a family oriented park under Walt, and is now a $$$$ oriented park. Walt's vision was to create a place where people of all ages and backgrounds could come and enjoy his parks. I'd be willing to bet more families than not can't afford these ticket/food/water prices. ]


Where do you get "upper middle class?" Maybe if you want to go every year, or twice a year, and stay at the Grand or Contemporary. But it's amazing how affordable it can be, compared to, say, taking the family skiing for a week, or taking everyone to a Broadway show, or spending a week at the Grand Canyon. My family was "middle middle class" when I was in jr high (late '60s) and we had to save for three years to afford "Walt's vision" (and yes, it was back in the pre-ME days). We couldn't go every year, but we could go. It wasn't impossible. We just had to save, like we did for every vacation.

No where am I guaranteed "life, liberty, the pursuit of happiness, and a trip to Walt Disney World." If it's a priority for me and my family, we save for it, like we would for a trip to Europe or a new car. I can't afford a new car this year, but are the people who make them evil because not everyone can have one? Of course not.

:rolleyes:

tstobb
11-16-2002, 02:39 PM
Originally posted by Andrew015
So ME takes a few billion out of WDW here and there... big deal...
That's probably only enough money to fix what EVERYONE on the DIS complains about... (IE no air conditioning, unclean restrooms, poor maintance... etc.)

If ME really loved Disney as much as everyone says....


Then maybe he'd just take his "Fair Share" and devote the rest back to the company. In other words, if I were in his shoes, I'd take enough of the money for a nice house and a few Corvettes... money to put future kids through college... and live a decent life... so in other words... 1 - 2 million might do me fine. I realize that his annual salary is a lot higher than this, so what is his need for these "compensations?"

Wow, cool, transporters just zapped you back to communist Russia!
Welcome to the free market economy - If it bothers you that much, you are free to NOT contribute to his compensation package (ludicris as it may be) as he has the right not to share his compensation with you.
Please find and post the EQUIVALENT person in a DIRECTLY EQUAL (same size co., # of divisions, etc) position that is running his/her company and their salary for a true direct comparison.

ohanafamily
11-17-2002, 07:59 PM
ME isn't to blame for his perks, they were given to him by a company that didn't realize he would squeeze the assets to make money at the expense of the dream. They didn't know how much cash he would generate, and they based these perks on performance. The question remains, Did he damage the company longterm to create these short term profits that generated his huge bonusses?
:bounce:

kaabost
11-22-2002, 02:49 PM
LOL tstobb!!!!

Why do so many people hate rich/successful people? Is it jealosy? I am FAR from rich. Most of those who are rich are those who CHOOSE different paths than the rest of us. If someone CHOOSES to study business, CHOOSES to work extremely hard, CHOOSES to make themselves highly qualified, and CHOOSES a high stress/high responsibility/high liability job (in which they were offered due to their qualifications in which they worked very hard for) they shouldn't feel bad about accepting their salary. Along some of your lines of thinking, I should feel guilty for studying to be a biologist, which will NOT make me rich. I should feel guilty because I will never make enough money to run WDW so that everyone else can go for free and have their bar tab paid for.

I know that a lot of people do not approve of all of ME's decisions, including myself, but obviously he has made good decisions for the most part. How do I know this? He pulled the company through some very rocky times and my trips to WDW are still magical. I think that we should be careful about judging ME until we walk a mile in his shoes.

sln88
11-22-2002, 03:36 PM
I would not say I am jealous, however, I am extremely resentful of rich people. 20 years ago, the average CEO made 42 times what the average production worker(insert cast member) made. Today that number is 500! I don't care how hard you work, how stressed you are, how much school you went through- no ones time is worth 500 times that of another. It has just gotten out of hand. This past year, we did not get a raise at the normal time that we usually do because of 'the poor economy'. 6 months later, they decided to bless us with a whopping 1.5% raise. What a joke. And the CEOs of the company 1 work for take home GOBS of money.
I don't understand where their sense of right and wrong and what is fair has gone to. How do they look at themselves in the mirror every day. How greedy can 1 person be? They can lay off people while making the remaining workers work overtime all in the name of making more money for THEMSELVES.
Look at the cast of Friends. 1 million dollars an episode??? Give me a break. Do you really think what they are doing is worth that? And who pays for it? The rest of us who are buying the products advertised on that show. i think there are other professions that contribute more to society(medical, caregivers, teachers, defense,ect) than CEOs or movie stars do. let them have their share of the pie.
I am not a commie, but come on, lets get real here.

dennis99ss
11-23-2002, 11:16 AM
come on now........if you were where the ceo is, you would do the same thing. if you say you would not, well, I would say that you may be a wood carver's son. Oh, btw, it is called capitalism.

tstobb
11-23-2002, 11:48 AM
Originally posted by sln88
And who pays for it? The rest of us who are buying the products advertised on that show.

You provided your own answer to relieve your resentment - STOP SUPPORTING THE PRODUCT IF IT OFFENDS YOU THAT MUCH!

Originally posted by sln88
let them have their share of the pie.
I am not a commie, but come on, lets get real here.

Let them HAVE their share of the pie - NEWSFLASH - that IS communism!

I an not saying that M.E. (or most CEOs) aren't overpaid BUT as long as I support the company & buy their products, I am continuing to support the structure of the company. I don't support professional sports for that very reason - I don't like to pay big $$$ for a ticket so I do without & if enough people did the same, there would be changes.

kaabost
11-25-2002, 10:46 AM
Precisely! Everyone has their own little "spending power." True, some of us have more than others.....but we all have choices. If people REALLY don't like something, they will not buy it. Those responsible individuals will offer feedback to the company. For instance, WDW obviously saw declining numbers of resort guests with the removal of EE. People responded through phone calls, email, etc. (but most importantly, by not staying on property) and POOF, EE is BACK!.

BTW, how much money is TOO much? This seems to me like a dangerous question. At what point should our earnings be "cut off?" I feel that I really have to pinch pennies right now to keep myself out of debt. Someone else, however, may feel that since I have enough money to own a computer and pay for an internet connection, that I have too much money and should be giving some of it away. It's all relative.

lucky_bunni
10-16-2003, 11:52 PM
Originally posted by Another Voice
Comparing Eisner to the former management from Enron is unfair.

Eisner has taken far more money out of Disney than the people at Enron could have ever dreamed.

In one year alone Eisner's compensation was over three quarters of a billion dollars. Other years it's been only over half a billion, sometimes only a paltary quarter billion dollars. I've heard one guess that Eisner's total "compensation" from Disney is nearing $5 billion.

He went from not owning a single share of Disney stock to being the third largest shareholder - individual or institution. And all of those shares has been on the company's money too.

As for not being a crook in getting all that money - I think the widow that owns the rights to 'Winnie the Pooh' may have a different opinion...

And it's it like Eisner kept all that money for himself. A few choice words and his former friend Jeff Katzenberg gets a half billion. And a year on the job got Mike Ovtiz a quarter billion. At least Eisner is willing to share.

That's funny because I don't think ME is anywhere near the $5 Billion mark on the Forbes list of the world richest people, nor has he ever been.

DancingBear
10-17-2003, 06:58 AM
Originally posted by sln88
Look at the cast of Friends. 1 million dollars an episode??? Give me a break. Do you really think what they are doing is worth that? And who pays for it? The rest of us who are buying the products advertised on that show. i think there are other professions that contribute more to society(medical, caregivers, teachers, defense,ect) than CEOs or movie stars do. let them have their share of the pie.If somebody will pay them $1 million per episode, then they are worth it. That's how we do things here in capitalist countries. They aren't compensated by your evaluation of their "contribution to society," but by what the market will pay.

And just what makes you think that if the cast of Friends worked for, say, $100,000 an episode, that the network would charge any less to advertisers of products on their show? That price, also, is a result of supply and demand.

If CEO pay is too high, then it is up to shareholders to elect board members who will correct that situation.

bmoc_ny
10-17-2003, 07:18 AM
Originally posted by Dznefreek
Explain $50.00 1 day tix, $7.00 to park, $5.00 for a 16 oz. beer.

Disney was proud to say that they did not raise tix price when USF and SW did but they raised the price on everything else!

But for $50.00 you get to stay in the parks all day:

$75.00 Avg. hockey ticket

$35.00 to Park in Manhatten (Ranger Game)

$8.00 for a beer

$118 and in 3 hours I'm home again

Galahad
10-17-2003, 07:54 AM
If CEO pay is too high, then it is up to shareholders to elect board members who will correct that situation.

I think you're absolutely right in principle. But the CEO compensation problem seems a bit out of control and I don't think your solution will happen anytime soon. Institutional shareholders have a lot of weight with the boards and I'm afraid the relationship between the executives, the board and large shareholders is working at cross purposes with the interests of small shareholders and the economy in general (I don't have any expertise, just my opinion).

I think it's similar to the problems that lead to the term limits movement. In theory, you can vote the bums out. But in practice there are a lot of institutional mechanisms and inertia in place to keep them in office in spite of it all.

KNWVIKING
10-17-2003, 09:02 AM
Can somebody explain to me how someone with almost 5 billion in compensation over a short period of time is only worth 600 mil.

DancingBear
10-17-2003, 09:17 AM
How do the interests of large shareholders differ from the interests of small shareholders?

Galahad, surely you don't advocate yet more governmental regulation to try to fix this problem.;)

jlambrig
10-17-2003, 09:25 AM
Originally posted by KNWVIKING
Can somebody explain to me how someone with almost 5 billion in compensation over a short period of time is only worth 600 mil.

As that great and wise prophet Patrick Ewing once said "We make a lot of money, but we spend a lot of money too"

Planogirl
10-17-2003, 09:51 AM
I am jealous of one aspect of this. I would love to find a position where I could do a lousy or mediocre job and still get paid enormous amounts of money. :)

I suppose that an argument could be made that Eisner did well at first but lately...I would say that his performance is mediocre at best. Stock performance is enough by itself to convince me of this and yes, CEO's are held accountable.

Walt's Frozen Head
10-17-2003, 08:50 PM
Many of EnRon's crimes were common practice throughout the industry before Ken Lay's house of cards fell down.

Failing to be convicted does not necessarily equate to moral and ethical business practices.

Perhaps the other $4.4 billion went to the lawyers it must take to keep such a businessperson out of jail... or perhaps Michael has merely managed his presonal assets the same way he handled Disney's. Sure, it's still an impressive pile, but it could have been so much more.

ohanafamily
10-17-2003, 10:19 PM
Well, I would suggest...Yoda leh he, Yoda Leh He, Yoda Le He Ho! Those Swiss sure know a lot abot bank accounts...

:bounce:

manning
10-17-2003, 11:54 PM
Florida has a law that says the house can't be touched in any possible financial claims.

Build a house in Florida and put the money off-shore and you have it made.

freediverdude
10-18-2003, 10:48 PM
LOL Another voice, that was good.... not too many posts make me laugh out loud for real. Oh well, he probably does the best he can, but let's face it, those CEO types live in a different world, where pixie dust doesn't count, and he has to live in that world.