If Florida repeals "The Reedy Creek Improvement Charter", how does that change Disney going forward?

[BK2014]

Really, there is no reason for RCID to exist anymore. The current Orange County government has demonstrated that it can oversea Universal's building requirements, and today's Orange County is up to handling WDW's requirements too.

There is a big difference between Orange County overseeing Universal as it has grown, and all of sudden being expected to absorb those functions that have been handled by RCID for decades. I am not sure what it is that make you think that today's Orange County is up to suddenly taking on that responsibility with out a significant increase in budget or resources, but I'd be interested to hear why you think that is the case.

 

[chicagodisneyfan]

Would be great if they could repeal it.

Why is that? I’m not sure I understand how it would be beneficial to be repealed?

 

[Nabas]

There is a big difference between Orange County overseeing Universal as it has grown, and all of sudden being expected to absorb those functions that have been handled by RCID for decades. I am not sure what it is that make you think that today's Orange County is up to suddenly taking on that responsibility with out a significant increase in budget or resources, but I'd be interested to hear why you think that is the case.

Orange County’s total budget is over $5.3 billion. It’s not the small government it was in 1967.

RCID’s budget is $178 million.

Certainly there will have to be a transition, but Orange County could absorb RCID without being overwhelmed.

Do I think this will happen? No. We are seeing a lot of saber rattling by business and political leaders. This will quietly end once the press stops covering this.

Still, Disney would be foolish to stop making donations to the political party in power in Floridia. Without these continued donations, Disney will give politicians a reason to retaliate.

 

[Disneychick75]

Saber rattling on both sides. I definitely believe DeSantis can and will remove Disney's privileges if the company doesn't butt out of politics.

 

[Jrb1979]

Saber rattling on both sides. I definitely believe DeSantis can and will remove Disney's privileges if the company doesn't butt out of politics.

Hate to say it but it's looking last 2 years has killed the golden goose. Not saying Disney will close or go bankrupt but IMO the days of them being number 1 may be over.

 

[RamblinWreck]

They probably wont repeal it. But what this talk amounts to is a shot across the bow by the legislature. (You also got members of Congress threatening not to renew Mickey's copyright protection.)

Basically the politicians are warning Chapek, and Disney shareholders, this feud the company got itself into is ill-advised, and it can get ugly if the company continues to accelerate down this path. This is not a war Disney can win. Florida has the political and legal upper hand. And WDW can't pick up and leave the state. I'm not really sure what Disney is hoping to accomplish. The politics in the state is not going to change anytime soon. In fact, these threats of Disney losing copyrights and legal advantages may be more than enough to ultimately force Chapek out of his job.

It’s all political grandstanding and none of them are actually going to do anything.

Disney isn’t worried and shouldn’t be. It’s all just politicians trying to put themselves in the spotlight in whatever way that they think will help them continue to get re-elected or reach the next highest level.


It’s no different than what all the people on the other side of the aisle and what Disney is doing. Actually “doing” isn’t the right word because none of them are doing anything. They’re just saying what they think is best for business.

 

[jerry557]

It’s all political grandstanding and none of them are actually going to do anything.

Disney isn’t worried and shouldn’t be. It’s all just politicians trying to put themselves in the spotlight in whatever way that they think will help them continue to get re-elected or reach the next highest level.


It’s no different than what all the people on the other side of the aisle and what Disney is doing. Actually “doing” isn’t the right word because none of them are doing anything. They’re just saying what they think is best for business.

I disagree. Sure it's grandstanding. But I think there is reason for Disney and investors to be very concerned because frankly...the company leadership is a joke. Disney has no chance of winning this war. This governor is not a man that backs down. And the legislature is never going to repeal that parental rights law. That is never going to happen. It's got majority support in Florida (according to the polls) and the present state leadership is not going to lose the election. If Disney doesn't cool down on this, I can see the legislators get angry enough to want to retaliate. With the people in power right now, yes you better believe they will. We are not at that point yet, but it can happen if this continues.

Disney has walked the fine line of politics for a long time. This is a company that for decades gives money to politicians all over the political spectrum to whatever favors the company's financial best interests in all the various locations they operate in. And the company leadership up until recently stayed pretty much out of the headlines when it comes to hot political topics. Over the past 5-10 years or so starting under Iger and now Chapek, that strategy changed radically. The executives have become much more outspoken on the cultural war issues. And its now creating a lot of enemies and political friction. I have no clue why these leaders of this company think this is a smart strategy when they have major business dealings in Florida, California, and China.... locations with very different politics.

Disney doesn't have very many cards to play. You can't pick up and move the Magic Kingdom. They can't scale down the Florida business footprint without major financial losses to the company's bottom line. The company has a tremendous amount of money invested in WDW and has a tremendous amount of loans to repay because of the shutdowns. And any scale back will simply be filled by competitors. (Universal and Sea World have completely dodged the controversy, by the way.)

Sorry but I think investors should worry. Because the people running this company right now are not very intelligent. And they seem prepared to run it into the ground in the name of social activism. If I still had money in this company, I'd sell. I already sold a long time ago.

 

[RamblinWreck]

I disagree. Sure it's grandstanding. But I think there is reason for Disney and investors to be very concerned because frankly...the company leadership is a joke. Disney has no chance of winning this war. This governor is not a man that backs down. And the legislature is never going to repeal that parental rights law. That is never going to happen. It's got majority support in Florida (according to the polls) and the present state leadership is not going to lose the election. If Disney doesn't cool down on this, I can see the legislators get angry enough to want to retaliate. With the people in power right now, yes you better believe they will. We are not at that point yet, but it can happen if this continues.

Disney has walked the fine line of politics for a long time. This is a company that for decades gives money to politicians all over the political spectrum to whatever favors the company's financial best interests in all the various locations they operate in. And the company leadership up until recently stayed pretty much out of the headlines when it comes to hot political topics. Over the past 5-10 years or so starting under Iger and now Chapek, that strategy changed radically. The executives have become much more outspoken on the cultural war issues. And its now creating a lot of enemies and political friction. I have no clue why these leaders of this company think this is a smart strategy when they have major business dealings in Florida, California, and China.... locations with very different politics.

Disney doesn't have very many cards to play. You can't pick up and move the Magic Kingdom. They can't scale down the Florida business footprint without major financial losses to the company's bottom line. The company has a tremendous amount of money invested in WDW and has a tremendous amount of loans to repay because of the shutdowns. And any scale back will simply be filled by competitors. (Universal and Sea World have completely dodged the controversy, by the way.)

Sorry but I think investors should worry. Because the people running this company right now are not very intelligent. And they seem prepared to run it into the ground in the name of social activism. If I still had money in this company, I'd sell. I already sold a long time ago.

I just don’t believe that there even is a war.

What Disney has done in regards to the parental rights bill could accurately be described as “nothing”.

They pretended it didn’t exist until they faced more pressure than they felt comfortable with, and then they continued to do nothing, but they said what they thought the people who were angry with them wanted to hear.

Traditionally this is where their involvement (or more accurately, lack of involvement) would have ended.

But a certain someone with his eyes on a bigger office saw an opportunity to raise his profile.

 

[AvidDisReader]

The big picture from Disney's standpoint is this all a self inflicted wound. Iger's legacy is purchased Lucas films, Pixar, and Fox studio's. Chapek's legacy is lost the ability to self control WDW....all due to taking a stance on an issue I bet that he never researched. As for selling the WDW in the future, that just is not in the cards. Prior to Covid the Parks were the steady income source they could always count on when the studio side lacked big blockbusters. The parks are also a great advertisement for all their IP. One last thing, this is not the worst time in Disney history. Research the huge mistake Walt made in his helping the Committee for Unamerican Activities in the 1950's and the incredible negative after shock the Company suffered.

 

[Disneychick75]

Research the huge mistake Walt made in his helping the Committee for Unamerican Activities in the 1950's and the incredible negative after shock the Company suffered.

I'll bet this will surpass that fiasco. If Chapek was smart, he'd shut up and lay low but unfortunately, I don't think this will happen. It seems making a political statement is more important. Will stockholders agree? Likely not

 

[AvidDisReader]

Research the huge mistake Walt made in his helping the Committee for Unamerican Activities in the 1950's and the incredible negative after shock the Company suffered.

I'll bet this will surpass that fiasco. If Chapek was smart, he'd shut up and lay low but unfortunately, I don't think this will happen. It seems making a political statement is more important. Will stockholders agree? Likely not

Do not think I agree with you on this. As recently as 2014, Meryl Streep was calling Walt Disney an anti Semite due manly to his testamony with the committee. Will people still be holding a grudge with Chapek on this issue over 60 years from now?

 

[Carol_]

Do not think I agree with you on this. As recently as 2014, Meryl Streep was calling Walt Disney an anti Semite due manly to his testamony with the committee. Will people still be holding a grudge with Chapek on this issue over 60 years from now?

This Meryl Streep? https://www.truthorfiction.com/meryl-streep-gave-roman-polanski-standing-ovation/

 

[HairyChest]

I want to thank Desantis. I think he single handily has caused the firing of Bob Chapek. We will be hearing about changes to his position very soon.

 

[Jrb1979]

@RamblinWreck.

I want to thank Desantis. I think he single handily has caused the firing of Bob Chapek. We will be hearing about changes to his position very soon.

As good as it may be if Chapek gets fired, I highly doubt it will change much in the way Disney is run. A lot of these changes were planned awhile ago.

 

[HairyChest]

@RamblinWreck.

As good as it may be if Chapek gets fired, I highly doubt it will change much in the way Disney is run. A lot of these changes were planned awhile ago.

Chapek changed imagineer led decisions to corporate business led decisions. That is the biggest change that will decimate any Disney progress and entertainment . Under Chapek, a future Pandora like project will never come to fruition.

 

[DCJ]

Doubt anything will change. Bunch of politicians pounding their chest in front of the camera. It would be terrible if it did change though. I think Disney does a much better job than the Florida government handling just about anything; solar energy, etc.
Chapek is still a $#!@#$!!...Got caught in the middle and just couldn't help but do just about everything wrong.

Political donations, especially in this case, seem more like bribery and extortion.

 

[Jrb1979]

Chapek changed imagineer led decisions to corporate business led decisions. That is the biggest change that will decimate any Disney progress and entertainment . Under Chapek, a future Pandora like project will never come to fruition.

IMO it's already too late. A lot of Imagineers have left.

 

[CampbellzSoup]

Disney shouldn’t be in politics, period. Keep all the mental gymnastics you have going in this thread if the Florida legislature wants to repeal RCID, they will.

 

[TheDailyMoo]

Like I said, a mess. Micro to macro.
Look at this board...look at Disney...look at social media...look at our country...look at the world.
Regardless of political beliefs, are people really enjoying this and by this I mean the times we live in? I know people can be and are happy in their own lives but I'm talking about society and the way things are spiraling out of control with the divisiveness. (Which if you don't think is their grand plan then you just don't see it).

Sorry for the dramatic rhetoricals but to me it's a sad state of affairs with no way to turn this ship around. And when something as "safe place" as Disney falls into the cesspool of toxicity too, it's just disheartening.

 

[DCJ]

DeSantis rules like China, now that you bring it up. But you are right, Disney screwed up.