Is Chapek a Comcast Plant for Acquisition?

[duckman17]

My only theory at this point...stock below $100 and down 37% this year and seemingly 0 care of the awful public perception of the company with today's firing:

Many executives are shocked at the way Rice was fired. According to one high-level executive at a Disney competitor, “At Disney, at that level, you don’t treat [an executive] that way. You give him a production deal, you give him a cover story, you give him a party, you walk them out the door. If you have to execute someone, there are ways to do it. It’s the lack of touch. It’s like this guy [Chapek] doesn’t know how things are done in our town.”

What does this guy have on the board to keep his job?

 

[New Mouse]

My only theory at this point...stock below $100 and down 37% this year and seemingly 0 care of the awful public perception of the company with today's firing:

Many executives are shocked at the way Rice was fired. According to one high-level executive at a Disney competitor, “At Disney, at that level, you don’t treat [an executive] that way. You give him a production deal, you give him a cover story, you give him a party, you walk them out the door. If you have to execute someone, there are ways to do it. It’s the lack of touch. It’s like this guy [Chapek] doesn’t know how things are done in our town.”

What does this guy have on the board to keep his job?

The board doesn't want to do the dirty work. Chapek was a short term plan to get the blood on his hands. There's a reason why Staggs and others didn't want to succeed Iger.

 

[DisOrBust]

Staggs wanted it, he was passed over. Many think due to the fact they invest several billion on magic bands and infastructure to support them without ny real ROI>

 

[OKW Lover]

Not quite sure how Comcast (per the title) fits into the discussion here.

The board, unfortunately, seems happy with the way the parks have recovered from covid financially. They also don't seem to think that the erosion of the Disney brand is as great as the fans believe. I'm amazed that the board apparently hasn't done anything to rein in Bob's tone-deaf response to social issues and the resulting fallout.

 

[Jrb1979]

Not quite sure how Comcast (per the title) fits into the discussion here.

The board, unfortunately, seems happy with the way the parks have recovered from covid financially. They also don't seem to think that the erosion of the Disney brand is as great as the fans believe. I'm amazed that the board apparently hasn't done anything to rein in Bob's tone-deaf response to social issues and the resulting fallout.

Til people vote with their wallet and stop going nothing is going to change. Look at the people here. As many negative threads there are, the common theme seems to be "we hate the parks have become but we are still going to go".

 

[OKW Lover]

Til people vote with their wallet and stop going nothing is going to change. Look at the people here. As many negative threads there are, the common theme seems to be "we hate the parks have become but we are still going to go".

Yes, we are still going in droves. Many people seem to forget that Disney is much more than just the parks.

 

[john7994]

Til people vote with their wallet and stop going nothing is going to change. Look at the people here. As many negative threads there are, the common theme seems to be "we hate the parks have become but we are still going to go".

Apparently, people are voting with their wallets. Respectfully, there are many positive threads of people planning their next trip, looking forward to their first trips (or first trips after a long time), and sincerely excited about going to WDW or Universal or both, and not getting caught up in the echo chambers of negativity.

Arguably, things may change, but not sure why everyone has to agree about where, how, and when they spend their money.

 

[Aprilshack]

I'm interested in what the numbers of visitors will be when revenge travel dies down. Also most people will not know who Cheapek is, a hell of a lot of visitors are first timers/once in a lifetime trippers who will not realise about the quaility of parks taking a nosedive.

 

[New Mouse]

Til people vote with their wallet and stop going nothing is going to change. Look at the people here. As many negative threads there are, the common theme seems to be "we hate the parks have become but we are still going to go".

People are voting with their wallets. That's literally the stock price is down 50%.

 

[4Ds4Diz]

I'm interested in what the numbers of visitors will be when revenge travel dies down. Also most people will not know who Cheapek is, a hell of a lot of visitors are first timers/once in a lifetime trippers who will not realise about the quaility of parks taking a nosedive.

I couldn't agree more. I was sitting in the Germany Pavillion in April and listened to people, as they walked back towards the restaurant, ask each other if there was a ride back there! So obviously plenty don't go knowing a whole lot about the parks, let alone the business end.

 

[TiggerBouncy]

I'm amazed that the board apparently hasn't done anything to rein in Bob's tone-deaf response to social issues and the resulting fallout.

I'm not sure they haven't. Since the moronic display, Chapek has been very subdued in his public statements about social issues.

What would you expect it to look like if the board told him to get a grip? Would you expect him to call a press conference and publicly apologize to the world, or just stop flapping his mouth? The later is what I would have expected, and seems to be the cards Disney is currently playing.

 

[OKW Lover]

I'm not sure they haven't. Since the moronic display, Chapek has been very subdued in his public statements about social issues.

What would you expect it to look like if the board told him to get a grip? Would you expect him to call a press conference and publicly apologize to the world, or just stop flapping his mouth? The later is what I would have expected, and seems to be the cards Disney is currently playing.

I would have expected them to either fire him or elevate another person to take over part of the job, reducing his impact. Instead, they issue a press release that says they are happy with him.

 

[k5xs]

I'm not sure they haven't. Since the moronic display, Chapek has been very subdued in his public statements about social issues.

What would you expect it to look like if the board told him to get a grip? Would you expect him to call a press conference and publicly apologize to the world, or just stop flapping his mouth? The later is what I would have expected, and seems to be the cards Disney is currently playing.

I wouldn't expect that in response to being raked over the coals by the board.

But I keep waiting for him or D'Amaro to fess up in an open letter that they are aware of guest frustration with G+ and other issues, that they are doing their best to address them, that they are committed to doing better, and that they appreciate their loyal guests, especially in this unprecedented time.

But that's assuming they know or care that at least some guests are frustrated.

 

[john7994]

I wouldn't expect that in response to being raked over the coals by the board.

But I keep waiting for him or D'Amaro to fess up in an open letter that they are aware of guest frustration with G+ and other issues, that they are doing their best to address them, that they are committed to doing better, and that they appreciate their loyal guests, especially in this unprecedented time.

But that's assuming they know or care that at least some guests are frustrated.

Glad to see Josh's name pop-up. Chapek owns it all - no qualms from me on total ownership in the end. But, I also think you are only as good as the lieutenants underneath you as well. It's Josh's job to eat, breathe and live in those parks with his executive team. No way Disney doesn't know their reputation is taking a hit - and can't speak to what they care or what they plan to do about it.

 

[Sweettears]

People are voting with their wallets. That's literally the stock price is down 50%.

The stock price is affected by many factors including the overall economic environment. Very little impact is gained from individuals making a decision to cut back on a park visit. Especially true when the parks remain crowded.

 

[OKW Lover]

I keep waiting for him or D'Amaro to fess up in an open letter that they are aware of guest frustration with G+ and other issues, that they are doing their best to address them, that they are committed to doing better, and that they appreciate their loyal guests, especially in this unprecedented time.

I would appreciate that as well. But the stock analysts will take that as a sign that there is real trouble in the parks sector and the stock will go down further. Since their bonuses are somewhat tied to stock price its really not going to happen.

What you might hear is at some later point they will make a big announcement about how they just fixed problem x or y and now things are better than ever.

 

[john7994]

I would appreciate that as well. But the stock analysts will take that as a sign that there is real trouble in the parks sector and the stock will go down further. Since their bonuses are somewhat tied to stock price its really not going to happen.

What you might hear is at some later point they will make a big announcement about how they just fixed problem x or y and now things are better than ever.

But if people start agitating with the analysts - to ask the harder questions - the tables get turned. Disney is covered at earnings by quite a few highly-regarded analysts - several being very well known. The last thing you want as a CEO is to chase the narrative versus owning it ...

 

[disneyseniors]

We have voted with our wallets and no longer are disney fans, and no longer vacation at disney. It deeply saddens me to say that, as the nostalgia of taking my kids/grandkids to disney is strong. My kids/grandkids will also not have any nostalgia for disney anymore. My grown "kids" have already sworn off disney and the grandkids are not interested. They only want to go to Universal. I see a big shift coming sometime in the future. Maybe then they will take all this seriously; at least that is my hope.

 

[Stratman50th]

Til people vote with their wallet and stop going nothing is going to change. Look at the people here. As many negative threads there are, the common theme seems to be "we hate the parks have become but we are still going to go".

I would say that this is a Disney fan site. People on here will continue to go. Others not interested enough won't and you won't even know.
People constantly point at how crowded the parks are as evidence that people are still packing in. None of us outside of Disney management know what park capacity is and I highly suspect it's a moving number. Maybe it "feels" crowded due to lack of staffing, limited people eater attractions and limits on big ride capacity like a single elevator on ToT and one track running on Space Mountain. Do I know for sure? Nope, but I don't think anyone else on these boards do either. Overcrowding might just be a perception, but perception is reality.

 

[Jrb1979]

Glad to see Josh's name pop-up. Chapek owns it all - no qualms from me on total ownership in the end. But, I also think you are only as good as the lieutenants underneath you as well. It's Josh's job to eat, breathe and live in those parks with his executive team. No way Disney doesn't know their reputation is taking a hit - and can't speak to what they care or what they plan to do about it.

They do know it taking a hit especially with Genie+. They have 2 big reasons they aren't changing it yet. One being due to all the advanced sales of Genie+. They aren't interested in refunding them. The other reason is they like the amount of revenue Genie+ brings in. The only they do know is its not working as never expected this many people to buy it.

All of that tells me 2 things. It's never going to be free or included as packages again and it may eventually become limited.