News Round Up 2020

[rteetz]

News

https://www.wdwmagic.com/dining/bea...lub-marketplace-closing-for-refurbishment.htm

 

[disneygirlsng]

It's early days.

Things change so fast - plans may be to stay closed now, but if demand rises perhaps things will reopen sooner than expected.

Yea, I feel like it's always better to announce a later date and end up opening early than have to delay an already announced opening date.

 

[skeeter31]

Boardwalk, AKL, POR, POFQ, All-Stars, and Beach Club don’t have opening dates. Yacht opens next week. Poly in October I believe and Art of Animation Nov. 1st.

Wilderness Lodge is still closed indefinitely too.

 

[Brianstl]

I know this is a somewhat independent production, but it doesn't bode well for things being closer to normal at WDW (like Christmas parties) until well into 2021.

Who would have thunk that some of us may have to cancel December 2020 or January 2021 trips because it is still restricted?

My guess is Cirque's bankruptcy has a bigger role in the this being pushed back to February 2021 than the pandemic. That doesn't mean everything will be normal in December (it won't), but everything isn't going to be normal in February either.

 

[MichiganScott]

Well, that's good. I was worried about them

No doubt, stories like that make me sick.

 

[skeeter31]

Yea, I feel like it's always better to announce a later date and end up opening early than have to delay an already announced opening date.

I think they would already know what’s booked for the holiday season at this point. And they have the data to show how many bookings would normally happen between now and the holidays. So for them to announce those resorts are closed through the end of 2020 is pretty telling that the demand for resort stays just isn’t there right now. They’ll rely heavily on their APs and locals staying in the open resorts to get them through.

And, like I said above, by staying closed through the end of the year, they’re basically confirming they’ll be closed through Spring Break or a Easter at this point since demand drops off again after new years.

 

[Farro]

Yea, I feel like it's always better to announce a later date and end up opening early than have to delay an already announced opening date.

Never hurts to try and stay positive!
Keep the dream alive!

 

[Tigger's ally]

No doubt, stories like that make me sick.

Meh, I feel for those still furloughed and am glad that by cutting the executives pay they were able to keep the insurance for them. But my company has people still furloughed drawing unemployment (a lot better unemployment than what I hear Florida people are getting) and I am working all day at home. They do get insurance as well. I do though feel like I should get full pay when I am working answering calls from 7 a.m till 10 p.m. and arranging deals and logistics. If the execs are working, and making all kinds of decisions that enable us to have a chance to visit, they probably deserve pay as well.

 

[Mackenzie Click-Mickelson]

Meh, I feel for those still furloughed and am glad that by cutting the executives pay they were able to keep the insurance for them. But my company has people still furloughed drawing unemployment (a lot better unemployment than what I hear Florida people are getting) and I am working all day at home. They do get insurance as well. I do though feel like I should get full pay when I am working answering calls from 7 a.m till 10 p.m. and arranging deals and logistics. If the execs are working, and making all kinds of decisions that enable us to have a chance to visit, they probably deserve pay as well.

I'd rather have a company be paying for my paycheck (as in not furloughed) than rely on the state's unemployment. Peeps be still waiting in my state for that. It's better than it was but I wouldn't want to be on the receiving end of wondering "will I even get any money this week?" and the extra $600 was spotty for a lot of people I know.

 

[Tiki Birdland]

I was just thinking, well what about the thousands still furloughed?

Seriously, I agree with that. IMO, there should be some repercussions for that. This is a bone-headed move on the executives' part. The PR isn't good...

 

[New Mouse]

I was just thinking, well what about the thousands still furloughed?

They are expendable.

 

[Brianstl]

They are expendable.

The number of highest level executives that aren’t expendable is minuscule. 99.9% of them are just as expendable as the rest of us.

 

[dlavender]

It's early days.

Things change so fast - plans may be to stay closed now, but if demand rises perhaps things will reopen sooner than expected.

I like your optimism. I hope this becomes truth and my prediction is way wrong.

 

[Farro]

I like your optimism. I hope this becomes truth and my prediction is way wrong.

If I don't stay optimistic I fear for us all.

 

[dlavender]

Seriously, I agree with that. IMO, there should be some repercussions for that. This is a bone-headed move on the executives' part. The PR isn't good...

It’s the way the beast works, unfortunately. Corps want to retain the talent at the top and see the lower levels as replaceable when things come back.

 

[New Mouse]

It’s the way the beast works, unfortunately. Corps want to retain the talent at the top and see the lower levels as replaceable when things come back.

Talent is an extremely subjective word. Almost none of them are as talented as their compensation.

 

[Brianstl]

Talent is an extremely subjective word. Almost none of them are as talented as their compensation.

The people at the top of a company get to set the pay scale. I am shocked they overvalue their own contributions. They all think they are as important as Steve Jobs was to Apple and think they deserve more a year than he made in his career running Apple.

 

[Tigger's ally]

Talent is an extremely subjective word. Almost none of them are as talented as their compensation.

I think we all want paid more for what we do. I refuse to be jealous of those that have climbed up the ladder just because they make more than me. Was Iger paid too much? Is Chapek paid too much? Yes, but it is probably right in line with other such businesses. If I was making their decisions day in and day out for a multi-billion publicly traded company and had to listen and obey the stockholders, I would definitely not turn down the compensation. I would be very charitable after I got there too! Probably at the same rate I am now but at a lot higher of a $$$ figure.

 

[Brianstl]

I think we all want paid more for what we do. I refuse to be jealous of those that have climbed up the ladder just because they make more than me. Was Iger paid too much? Is Chapek paid too much? Yes, but it is probably right in line with other such businesses. If I was making their decisions day in and day out for a multi-billion publicly traded company and had to listen and obey the stockholders, I would definitely not turn down the compensation. I would be very charitable after I got there too! Probably at the same rate I am now but at a lot higher of a $$$ figure.

CEO’s are in a position where they basically get to set their own compensation. I know, I know the board sets the compensation. Who are the vast majority of board members for most corporations? Other CEO’s. Six of Disney’s ten board members are CEO’s. Three of the remaining 4 are former CEO’s.

So yes, they get to overvalue themselves.

 

[CastAStone]

I think we all want paid more for what we do. I refuse to be jealous of those that have climbed up the ladder just because they make more than me. Was Iger paid too much? Is Chapek paid too much? Yes, but it is probably right in line with other such businesses. If I was making their decisions day in and day out for a multi-billion publicly traded company and had to listen and obey the stockholders, I would definitely not turn down the compensation. I would be very charitable after I got there too! Probably at the same rate I am now but at a lot higher of a $$$ figure.

I don’t think Bob Iger made too much given where he led the company - he made choices that led to absurd successes and growth. The remaining problem is twofold:

1) the people below him also helped to do that, all the way to the bottom, and should have shared more in that success. The market pressures on publicly traded companies do United States makes paying people below a certain level fairly virtually impossible. If Disney paid them well, there would be a hostile corporate takeover on the grounds of the private equity or hedge funds “ability” to “carve out wasteful costs”, and the new owners would do that by cutting worker pay (and workers). This has happened over and over for the last 35 years in virtually all sectors.

2) When the new guy comes in, he expects to get paid similarly to the old guy. But Chapek hasn’t proved himself to be an Iger yet. And D’Amaro needs to prove himself to be worthy of Chapek’s old pay, and so on down. These positions are unique enough but there’s not really a market pay level for them, it’s entirely negotiated. And so the wage inflation continues.