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Old 03-20-2003, 10:20 AM   #1
larworth
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Other Annual Meeting Info

The leak of the new AK attraction was obviously the highlight of the meeting. Here are a couple of other notes I made while listening:

In his state of the park comments Eisner referred to AK as the final exclamation on WDW. We’ve all assumed the idea of a 5th park was dead, but if there was any question.

They mentioned several times how well DCA was doing. At least twice he referred to DCA as the Disney Studios in Anaheim. Just a slip??? He did seem to struggle some with his facts about the parks in general.

The new Space Pavilion will help to keep Epcot relevant. This is the second time he has felt the need to comment on Epcot's relevance.

Capital expenditures will remain in the 6-700 million level. The same comment about the high past spend on new parks, and because of this future investment needs will be limited.

Over 1 Billion in cost outs. The biggest source being strategic sourcing, which has no impact on our customers.

Disney Card is a key part of our CRM program. There will be bonus opportunities coming.

A lot of talk about the impact of the digital age. They are intrigued by the opportunities to remake the classics in a digital format (gave a hypothetical of remaking Bambi).

They have confused the audience with their many different animation offers. Admitted they may have overdone the sequels a little.

Consumer products are very strong with girls, but (tried not to say weak) so with boys. Power rangers has helped give their distributors something for that segment.

I was disappointed that the advocate for shareholder proposal #3 (on executive compensation) was one of the snow victims. Their presentation would not have affected the vote, but I would have liked to hear them go through all the gory details in public again. The two compensation proposals got better than I expected support (both about 10%).

Eisner sounded fairly relaxed and open throughout the presentation. I saw no signs that he feels he is on 'thin ice".
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Old 03-20-2003, 11:25 AM   #2
Sarangel
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Thanks for the summery, Larworth. I have a few questons & comments to make. First:
Quote:
A lot of talk about the impact of the digital age. They are intrigued by the opportunities to remake the classics in a digital format (gave a hypothetical of remaking Bambi).
Please, please, please tell me that this will only be used to upgrade the film quality and not spawn Bambi 6, Return of Thumper! or, worse, a CG version of the film.

And secondly:
Quote:
They have confused the audience with their many different animation offers. Admitted they may have overdone the sequels a little.
Well, DUH! We all knew that years ago. Did anyone mention the idea of returning to original stories? or focusing on making the quality over quantity decision? Is there any intent to focus on reviving the animation departments?

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Old 03-20-2003, 02:05 PM   #3
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Quote:
They have confused the audience with their many different animation offers. Admitted they may have overdone the sequels a little.
Its too bad they have to be smacked in the face with the results before they figure this out. Even so, it doesn't sound like they really get why this is a problem, but at least maybe they now understand it is a problem.

Of course, if we see "Beauty and the Beast 8: Gaston's Revenge" in theaters next Feb/Mar, we'll know they really haven't learned anything.
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Old 03-20-2003, 08:24 PM   #4
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* Most Disney (nyse: DIS - news - people) shareholders were foiled in efforts to travel to the company's annual meeting Wednesday by a blinding snowstorm, so the lack of visibility on its corporate turnaround was perhaps only fitting. Disney issued no new forecast for the year, but executives said they no longer expect to attain previous growth projections. Other news included confirmation Disney is hot to acquire the Jim Henson Co. and an upbeat assessment of prospects for extending a film co-production pact with Pixar (nasdaq: DIS - news - people).

Reuters/Variety
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Old 03-20-2003, 08:30 PM   #5
raidermatt
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Was there ever an explanation as to why the meeting was held in Denver in the first place?
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Old 03-21-2003, 10:34 AM   #6
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Yup. They're moving the shareholder meetings to various sites around the country, "in order to reach as many shareholders as possible." And if you believe that, I've got some lovely waterfront property I'd like to unl... sell at a discount

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