Roy Disney Resigns and calls For Eisner's Resignation

[4407mark]

Amen HB2K!!! And you know, I'm starting to get a little disgruntled myself. If this isn't a wake-up call to the board, then they're sleeping on the job and need to go - led by Ei$ner. It's time for TWDC to be run by people who care about the Disney name, the Disney quality, and the Disney Dream - not a bunch of corporate suits who don't give a damn about anything other than lining their own pockets at the expense of others.

 

[Luv2Roam]

Not that I am up on all the in's and out's -- but I think this just gives a stronger hold for ME. To him, that's just one more critic out the door.
Right now the only thing I see that may change the board is the class action lawsuit brought about by the stockholders.

 

[crusader]

Needless to say this is very disturbing.

As much as I'd like to believe this will open consumer eyes and ears it really won't.

Whatever is reported will be ignored, dismissed or quickly forgotton by most people for two reasons:

1. They've become conditioned and immune to hearing the discrediting talkingpoints through the media.

2. They really don't have any interest in the Disney Corporation.


AV -

I will remain optimistic that the firesale you are describing never comes to fruition.

 

[HeatherPage]

Okay, it seems that ME can retire (IF he wanted to) but can he be voted out by the shareholders or Board of Directors?

 

[HB2K]

Crusader-

While I would agree with you that some of the recent Disney news would miss the general populace due to their reported stature (unless you're looking for the story, you won't find it), this one is different.

ABCNEWS.COM, MSNBC.COM and FoxNEWS.com have all had this story on their front page, and in fox's case with a inflamitory headline normally reserved for the Enron's of the world.

Surely the placement of this report is going to generate casual Disney fans to read further...and once they do how many are going read a letter written by someone named DISNEY about the DISNEY company and write it off as the musings of a bitter old man?

This is going to put a bug in people's thoughts about Disney's products, especially the theme parks who earned a specific slam from Roy. While I don't think anyone will cancel their vacations, I do wonder how many people are going to look at the parks differently after reading Roy Disney's statement.

 

[WEDWAY100]

Originally posted by crusader
Needless to say this is very disturbing.
AV -

I will remain optimistic that the firesale you are describing never comes to fruition.

It might not be such a bad thing if the entire Parks and Resorts division was sold off intact (like Universal to NBC/GE). If the buyer is a company that is more willing to wait for return on investment, the parks might be better off.

But if the WDW hotels and parks are sold off piecemeal, then that would be then end of a unified resort experience. Each purchasing company would be fighting with the other for our dollars. That sounds ugly.

 

[Mickey76]

This whole debacle makes me wonder just where the company will be be 10 years from now. I hope things only get better.



Mickey76

 

[Tekneek]

The spin on the radio here in Atlanta completely missed the point as well (at least the stations I heard it on). I think most news people don't get it, and it will blow over. You can't depend on the WSJ, or any business analyst, to tell the right story. They *love* the traditional corporate style and Eisner is one of their guys. They want those kinds of cretins in power at every corporation. Those are the kind of people that their boss is, so to go out and talk bad about that kind of leadership will hurt them in their current job. I'm not saying there is a conspiracy, it's just fact. Nobody who is tied into a traditional corporate structure is going to come down on the "Disney" side of things, they're going to fall on the "Eisner" side of things. After all, it was the traditional corporate types who said a park like Disneyland would flop, right? They never understood what it was about and never will.

 

[crusader]

HB2K -

Good point. This story is headlined by the adversaries and has a very strong message. No doubt most of the general population has been informed.

But unless Roy is embarking on a public campaign the staying power is limited. We may hear very little beyond this and his exit will fade quietly into the night.

It really won't have any more of an impact than Jack Welch's wife disclosing his financial arrangements with GE or Worldcom's demise or the Tyco $600 million officer loan embezzlement scheme.

People will only care if it is something they have a personal vested interest in. In Disney's case, those individuals happen to be here.

Wedway 100 -

I'm not convinced a dismantling is what we really want. Theme Parks has never been the predominant business of this company and I don't believe it should.

 

[Planogirl]

It's surprising that Disney stock is so flat today. I expected some kind of reaction but it's just kind of sitting there.

I would be happy to see the classic parts of Disney spun off if someone who cares about the legacy would take over. I'm not so sure about the prospect of another huge company buying it though.

 

[deb305]

Actually there is a bigger story not being covered with the Disney Board. A shareholder group has brought suit against the Disney Board members on the sweetheart deal give ME's buddy Orvitz (sp) when he was let go after less than 2 years. ME got them to give his buddy several hundred million dollar severance, against their own board rules. Disney has been challanging whether the suit has merit to be filed, and the Deleware (sp) court has finally said that the suit has merit and should go ahead. This has big ramification to not only the Disney Board members, but all companies incorporated there. Given that, there will be a lot of continued pressure to challange the case.
ME attempts at leveraging the Disney brand (ABC,Mirimax, etc) have diluted the Disney name. As ABC fails, and Mirimax continues to produce shock value gross movies, Mickey and pals will continue to be dragged in the mud.
I can't wait to see how the new Peter Pan movie fairs at the box office. Disney pulled out at literally one minute before midnight, with the movie due out in a few weeks. If the movie lives up to the trailer, poor Disney "Tink" will be left in the mud.

Don't get me wrong we love all things Disney, WDW annual pass holder, frequent visitor, big Disney Store consumers etc and almost every true Disney DVD. We want the company to suceed, just don't want it to become another Enron with the workers and consumers left holding the bag

 

[Tekneek]

With Stanley Gold walking out today, and his VERY NICE (and scathing) letter that calls members of the BOD and Eisner out in direct ways, this looks like it is generating some significant noise. Maybe something good will happen after all.

 

[DancingBear]

Unfortunately, it looks like the financial markets greeted this news with a big yawn. Stock up slightly (less than 1%) today.

 

[manning]

It looks like Disney and Gold are taking the only option available to them.

 

[DisneyKidds]

Nope..........due to my failure to watch any real news while on vacation I completely missed the developments of the last few days...........................and were right here at WDW! Looks like Viking, Larry and I (and whoever else shows up) will have a lot to talk about over MNF at the Poly tonight.

I'd like to think this is the start of some big shakeup and might lead to some kind of change (takeover, ouster od Eisner, whatever) thta might save the Disney we love. AV's sentiments do provide some cause for alarm. It will be interesting to see where this goes.

On a lighter note.......................while there is clearly a little less attention to minor detail (my DW notices EVERYTHING) and there seem to be fewer decorations than last year, the parks are clean and wonderful and the crowds aren't bad. I'll provide some more observations later on, but now it is off to the Cinderella dinner at the GF and then on to the Poly for MNF with the gang.

 

[King Triton]

I support Roy Disney 100%. Michael Eisner has lost the vision and creativity. Roy was right about Eisner being too cheap to make a fast buck and thus sacrificing the Disney magic. California Adventure is an example of if you build it cheap it will come back to haunt you. No way Walt would have approved of that park. Eisner also managed to destroy and ruin the once great park - Epcot. Roy understands the Disney magic and he needs to be heard. Disney needs new management - someone who has the creativity to bring back Walt's vision.

WE LOVE YOU ROY!! GET THE WORD OUT!!

 

[wdtv]

"While Roy's complaints are, I'm sure, heartfelt and he's serious about it, he just doesn't carry as much weight as he used to in the company," said Harold Vogel of Vogel Capital Management in New York.
This is a quote from yet another article on Roy's comments. To me, it's a bunch of garbage and implies the sorry state of things today. While it may be true, what this quote implies is a total, complete and utter lack of respect for morals, principles and ideals within the company. Anybody over the age of 15 who hasn't been living in a cave knows that Disney has practically seperated itself from the ideals, morals and principles set forth by Walt Disney and proudly maintained until Frank Wells untimely death and Eisner's "complete" takeover in 1995.
I am "completely" fed up & beyond -- way beyond -- angry; and will continue to fight the good fight; and hope to God that Disney someday retains its dignity.
It is really sad. Why there are still fans who support Eisner is beyond me.
And the fact that under 300 people are in Preserve the Magic (a link to join is in my signature) is a sad testament as to how the company has "brainwashed" gulliblle people. People that maintain a "Disney can do no wrong" mindset. People who embraced DCA from day one. Pople who adore every single animated sequel and who buy every single DVD that Disney releases.
It pains me to no end. I grew up on Disney; I've read about Walt Disney & watched history television shows on him, Disneyland & WDW; and the state of the company today is just so sad to watch.

 

[freediverdude]

I think maybe I've read on here somewhere that we're not supposed to organize a mass mailing on these boards, is that correct? If it is, does anyone know of a place where we could? I think this situation really calls for something like that, to let the Disney board know how so many people feel. Or should we all just bombard all the executive addresses we can find with letters LOL.

 

[ZachnElli]

I usually just lurk. But I wanted share that I found an interesting discussion on cbs.marketwatch.com about all this. I didn't see too many Eisner fans among those who at the very least watch the stocks on that site. Just sharing.

 

[LoriMistress]

I really hope that Eisner resigns...but he probably won't. He'll have to try to "prove him wrong."