$82 a point for OKW- Wow!

[Cyberc1978]

I have no idea - but if CMs at non-DVC Disney resorts are laid off, I can’t see any reason that DVC resort CMs would not also be laid off.

Seen from a Disney perspective they don’t pay their salary, DVC does and ultimately the owners pays.

 

[CarolynFH]

Seen from a Disney perspective they don’t pay their salary, DVC does and ultimately the owners pays.

I agree - but I still won’t be surprised by layoffs in April. I hope there won’t be, but fear there will be.

 

[Sandisw]

Ohh you might be right. I wonder if the same goes for those CM’ that work at the DVC resorts? Btw are they hired by DVC directly or Disney which then forward the invoice to DVC?

Hired by Disney and it’s part of our dues.

 

[Cyberc1978]

Hired by Disney and it’s part of our dues.

So if CM’ are laid off due to resort closures we could expect our dues to go down. However normal practice is to set the additional funds a side in the reserve fund so no money is actually going back to members.

 

[Sandisw]

So if CM’ are laid off due to resort closures we could expect our dues to go down. However normal practice is to set the additional funds a side in the reserve fund so no money is actually going back to members.

Theoretically, I would assume. But the news from a Disney, both public and internal statements to current employees is they will continue to get paid through the shut downs,

Obviously, that could change

 

[CarolynFH]

So if CM’ are laid off due to resort closures we could expect our dues to go down. However normal practice is to set the additional funds a side in the reserve fund so no money is actually going back to members.

Depending on how much it is, we may see a credit as we do when actual property tax paid is less than estimated. Also, if there’s a surplus to put into reserves, we’ll probably pay in less for reserves next year - in other words, see a reduction in that line item.

If expenditures are significantly less than budgeted, we’ll benefit - timeshare laws would prevent the savings from being transferred to another Disney division.

 

[Matty B13]

I'm wondering if DVC will give more of a credit to owners who lost points during the closures? Doesn't seem right that All owners benefit with reduced dues for a closure, but only a Few owners lost points.

 

[Sandisw]

I'm wondering if DVC will give more of a credit to owners who lost points during the closures? Doesn't seem right that All owners benefit with reduced dues for a closure, but only a Few owners lost points.

I think what might be something they could do, is reimburse owners who lost points that expired....not those beyond banking deadline unless resorts remain close...during resort closures the dues on those points.

Then, whatever that cost is, include it in the dues as a special assessment, similar to what could happen if the resort is damaged.

If there is a credit to the membership because of lower costs for operations, it could be used to offset that cost,

But, again, I don’t know if any of that is considered legal,

 

[Cyberc1978]

I think what might be something they could do, is reimburse owners who lost points that expired....not those beyond banking deadline unless resorts remain close...during resort closures the dues on those points.

Then, whatever that cost is, include it in the dues as a special assessment, similar to what could happen if the resort is damaged.

If there is a credit to the membership because of lower costs for operations, it could be used to offset that cost,

But, again, I don’t know if any of that is considered legal,

Dont know how things Work in the US but if they credit or reimburse owners who lost Points wouldn’t that money count as income which needs to be taxed?

 

[bakerworld]

IMO, we're not going to see any credit from this - if anything I think we see some kind of remediation fee for all the deep cleaning. The salaries will be continue to be paid to the permanent FT so there will be no savings there, especially if the ruling is to pay permanent PT employees. JMO

 

[Sandisw]

Dont know how things Work in the US but if they credit or reimburse owners who lost Points wouldn’t that money count as income which needs to be taxed?

Not sure, but it would be simply a reimbursement of what they paid on those points, so I don’t believe it would.

 

[DisneyDar]

I love reading all of these posts. It proves to me how right I was when we were some of the original purchasers back in 1992 when it was only OKW. Back then I had some fierce arguments on various forums with people claiming that Disney would crash and burn with their concept and it was nothing more than a timeshare like other timeshares. I was the opposite; Disney would always increase in value over the years due to the love people had for the company. Of course that has proven true and I love it. This turndown will only be temporary, I feel certain. Oh, and by the way, when we bought in, the cost was $54 per point, AND we received park passes for the balance of the decade for all four in my family.

 

[mlayton14]

I love reading all of these posts. It proves to me how right I was when we were some of the original purchasers back in 1992 when it was only OKW. Back then I had some fierce arguments on various forums with people claiming that Disney would crash and burn with their concept and it was nothing more than a timeshare like other timeshares. I was the opposite; Disney would always increase in value over the years due to the love people had for the company. Of course that has proven true and I love it. This turndown will only be temporary, I feel certain. Oh, and by the way, when we bought in, the cost was $54 per point, AND we received park passes for the balance of the decade for all four in my family.

Past performance is no guarantee of future results , in fact I can guarantee it

 

[Deploraboo]

I may just dip in once we see 75 for name resorts.

 

[Grumpy by Birth]

Why would anyone in their right mind right now purchase a fractional ownership interest in a resort that is indefinitely closed?

I may just dip in once we see 75 for name resorts.

I guess I misunderstood the post you made on another thread?