YAHOO and YIPPIE for DISNEY

[TheRustyScupper]

1. If this is the First 10-Year Iger (call it "Iger 1.0"), it is the best thing since Roy !
2. He revived and saved The Disney Company and Walt Disney World.
3. In my opinion,
. . . In his first 10-years, Iger made wise (although sometimes unpopular) moves
. . . He became autocratic in his second 10-years, and hurt his reputation
. . . During Iger "2.0" he let managers go untrained and rogue
. . . I truly look forward to see which Iger comes out.
. . . If it is Iger 1.0, we think folks will be overjoyed and applaud the company's decision.
4. I believe we can look kindly to invigorated WDW and a refreshed experience.

 

[jbrostek]

The first thought that came to mind was less about Iger and more about what did Chepek do that would force him to step down on a Sunday days after many layoff notices started to flow and less then 6 months after they renewed his contract for 3 years.

 

[TheRustyScupper]

The first thought that came to mind was less about Iger and more about what did Chepek do that would force him to step down on a Sunday days after many layoff notices started to flow and less then 6 months after they renewed his contract for 3 years.

1. The layoffs might have been a MINOR FACTOR.
2. Chapek seemed more interested in streaming than employees and guests.
3. Am not sure if he had a clue of how to run the parks and manage people.
4. I think the battle with Governor DeSantis over "Woke" was the MAJOR ISSUE. **
5. The results of that war were epic for Disney/ABC and WDW.
. . . One does not bite the hand of the Tax-Man or Governing Body.
. . . WDW lost tax advantages and is losing its status as a separate community.
. . . If anyone thinks these are small matters to such a large business, think again.
. . . With such damage, I do not think Disney will regain the previous benefits they enjoyed.
6. Many of the favorable WDW capabilities negotiated to entice Disney are gone forever.
. . . they were their own legal city/county entity
. . . they made many of their own laws
. . . they issued their own revenue bonds
. . . they created many ways to avoid or postpone taxes

NOTE-1:
Regardless of "Stepping Down" rumors, this was a Firing.

NOTE-2:
** This was also the thought from much of the media.

 

[jbrostek]

We all know this was a firing. CEOs do not "step down" like this other then when fired. I should have used the quotes the first time.

I am sure that WDW loosing Reedy Creek will have a lasting effect, and some of that negative to the counties as much as to Disney. In the long run it is a lose/lose situation and the few that understood that where dismissed.

 

[Lisse24]

4. I think the battle with Governor DeSantis over "Woke" was the MAJOR ISSUE. **
5. The results of that war were epic for Disney/ABC and WDW.
. . . One does not bite the hand of the Tax-Man or Governing Body.
. . . WDW lost tax advantages and is losing its status as a separate community.
. . . If anyone thinks these are small matters to such a large business, think again.
. . . With such damage, I do not think Disney will regain the previous benefits they enjoyed.
6. Many of the favorable WDW capabilities negotiated to entice Disney are gone forever.
. . . they were their own legal city/county entity
. . . they made many of their own laws
. . . they issued their own revenue bonds
. . . they created many ways to avoid or postpone taxes

NOTE-1:
Regardless of "Stepping Down" rumors, this was a Firing.

NOTE-2:
** This was also the thought from much of the media.

First, Reedy Creek has not been dissolved yet. Second, there are a lot of moves going on behind the scene in Fl Gov to make sure it doesn't get dissolved. I think you're putting too much emphasis on that and not on last week's disastrous stock prices.

 

[Teamubr]

Scupper had the best assessment of Iger and his split personalities. Overall, I think he had a very positive impact on the parks. Most of that was initiated during Iger 1.0. It will be interesting to see which "Bob" we get for the next 2 years.

Chapek was likely "released" due to the tanking stock prices and no clear plan to address. The TDC board has been very focused on the investor for a long time. While the Reedy Creek fiasco didn't help, Disney drives the Florida economy. Disney is a 50+ year constant. Politicians and their motivations have always been fleeting. DeSantis will fade and people will "awaken" to the negative impact of their "woke" accusations and Disney will still be there.

@Lisse24 summed up Reedy Creek well. There will be a solution that retains Disney control over nearly everything it had, but still gives DeSantis something he can proclaim as a "win" and we will all move forward like it never happened.

j

 

[garneska]

@jbrostek we thought the same what egregious thing did he do. I am thinking along the lines of racist or sexist. I think he did something inappropriate to create such an immediate ousting shortly after a contract extension.

 

[Teamubr]

I don't think there was any sudden event that prompted this. The stock performance, a general perception of no reasonable plan and a lack of confidence drove this. At the time, I thought the contract extension and letter of confidence was a PR ploy to calm investors and give the allusion of support from the board. It really didn't mean much, but it did buy them time to work out a deal with Iger while slightly stabilizing the stock free fall.

j

 

[Teamubr]

Here are a few more details on upcoming changes Iger discussed on his first day back at the helm. If he holds to the quotes, this bodes well for the "creative" side of the company.

“I’ve asked Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to work together on the design of a new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs... I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses."

“In a world and business that is awash with data, it is tempting to use data to answer all of our questions, including creative questions. I urge all of you not to do that.”

j

 

[Teamubr]

A little more is coming out regarding the Chapek dismissal. If it is to be believed, his ouster has been in the works since the summer, orchestrated by TDC CFO, Christine McCarthy. The November earnings report was the last straw.

I think over the next weeks we will have a lot of spin and speculation, but it doesn't sound like there was anything inappropriate regarding Chapek, other than some poor leadership decisions.

j

 

[team bradfield]

we had given up on a return to WDW as the parks are falling apart, it wasn't worth it, I've got all western US trips scheduled this upcoming year, but we might just reconsider a trip back to FW

 

[Teamubr]

We had given up on a return to WDW

I can certainly understand. Our trip this past January wasn't the same experience, even when comparing to the 2 other trips during Covid. I'm not to the point of saying "I'm done", but I am taking 2023 off. That isn't because I've had enough Disney. I have had a 40th anniversary trip to Europe planned for several years and had to keep bumping it due to Covid. We will now be celebrating our 42nd anniversary on the trip.

We are definitely planning on the DIS Meet in November 2024. I may try to stretch that into 3 weeks and work a few days to keep my boss happy.

j

 

[jbrostek]

we had given up on a return to WDW as the parks are falling apart, it wasn't worth it, I've got all western US trips scheduled this upcoming year, but we might just reconsider a trip back to FW

I did not see as much falling apart this last summer as everyone keeps saying. I did notice less overall maintnence in two key areas, trash and bathrooms. That said the value of a vacation there is falling, we have not said no more. Though things like trips westward in the RV and trips elsewhere are ending up higher on the list then Disney. We will be back there in 2023, 2024 could be Dismeet plus a west coast DVC stay at Disneyland since that is graduation year for DD.

 

[bigdisneydaddy]

Some very astute observations here. Many of them echo my thoughts. I will say as a stockholder I watched this a little closer than I would have as just a long time fan. Our trip in February was a huge disappointment at a cost never before heard of.

 

[team bradfield]

If you want to experience "falling apart" try Fantasia Gardens mini golf, we were there last fall, all the putting greens are wore out and only half the features were in working order

 

[TheRustyScupper]

we had given up on a return to WDW as the parks are falling apart, it wasn't worth it, I've got all western US trips scheduled this upcoming year, but we might just reconsider a trip back to FW

You and us.
We get in free, but ONLY go for specific reasons.
. . . MK - to people-watch and ride Carousel of Progress
. . . EP - to Drink-Around-The-World and visit "Binny" **
. . . HS - Nope
. . . AK - Nope
With all the negative-guest-experiences, WDW has lost its magic.
Change can be good, but it can also be bad.
In our opinion, most changes lately have decreased the fun and enjoyment.

** A specific trash bin at the exit of Rose & Crown.