"Tragic Kingdom" report?

[awoogala]

I don't know if anyone has posted this yet:

http://www.aicio.com/channel/NEWSMAKERS/Investors_Take_Aim_to_Avert_Disney’s_“Tragic_Kingdom”.html

Tim Goodman, head of North American engagement at Hermes EOS, said: "We want to see Walt Disney endure as the 'Magic Kingdom', not the 'Tragic Kingdom'. Proxy access is imperative, and our non-binding shareholder resolution is designed to offer a constructive avenue towards improving corporate governance at the company by protecting the interests and enhancing the rights of its long-term shareholders."
The shareholder group said it also had fundamental concerns about the company's "flawed approach to executive compensation." It said that an "excessive focus on short-term awards, guaranteed minimum pay-outs", adding that the company had "vague and unchallenging performance conditions tied to pay".
"Walt Disney's board, its remuneration committee and long-term shareholders need to join together to address this defective system of compensation," Goodman said.

 

[awoogala]

The shareholder group said the proposal was a direct response to the board's "surprise move" to appoint CEO Robert Iger as chairman of the board at last year's AGM and contractually guaranteeing his chairmanship through 2016, without suitable transparency and input from shareholders. The move was a blatant reversal of its 2004 commitment to maintain an independent chair, Hermes EOS said.

one more quote..

 

[Darth Sidious]

At least someone is fighting what is seemingly obvious.

 

[PhotoDave219]

I hears something about CalPers advising (two weeks ago) a vote against Bob Iger & some of the Board of Directors based on the corporate governance and compensation issues.

 

[Walt 1901]

I voted for his proposal. I also voted against every existing board member including Iger. The board has recommended in its proxy paper work that you vote against his proposal. I think this company is becoming to profit driven and they are putting qaulity of product behind. I believe the board and the top officers are trying to suck every dime out of the company and then leave it destroyed.

 

[HMF]

The sooner Iger leaves, the better. I am really hoping Oz bombs and NextGen falls flat on it's face.

 

[Hedwig's Keeper]

Well, Iger had to take over, I mean with the blockade of the Trade Federation and all...

Or maybe Iger learned how to do a "Jedi mind meld", I hear that is getting really popular among those in seats of power

 

[Hedwig's Keeper]

I voted for his proposal. I also voted against every existing board member including Iger. The board has recommended in its proxy paper work that you vote against his proposal. I think this company is becoming to profit driven and they are putting qaulity of product behind. I believe the board and the top officers are trying to suck every dime out of the company and then leave it destroyed.

I agree, it seem like Disney feels that having exclusive licensing to classic stories is all they have to do. For example, they made the OZ movie but I keep reading reviews saying it was terrible, but that Disney will make money on it nonetheless because everyone will go to see it. Will the new Star Wars movie be as "thin" as OZ? I will save my personal opinion of OZ for when I see it but it's definitely concerning to see such a classic off to such a rough start. It's just not enough to have these stories and use them, they have to make them great. But it seems like the quality is not a huge concern for them. Sure a little bit of concern, but kinda like - oh it would be nice if it's a good movie too.

 

[PhotoDave219]

This is interesting....


Connecticut, CalPERS join CalSTRS in urging Disney to split chairman, CEO roles

Connecticut state Treasurer Denise Nappier filed a shareholder resolution on behalf of the state's pension funds at The Walt Disney Co. seeking to separate the company's CEO and chairman positions, both currently held by Robert A. Iger.
In a statement on the state's website Thursday, Ms. Nappier said the resolution is similar to one she filed in 2004 seeking to split the two positions under then-CEO Michael Eisner. That resolution was approved but was changed in 2011 when Mr. Iger, who replaced Mr. Eisner as CEO, was also appointed as board chairman in a decision that “strongly suggests that shareholder input was intentionally avoided,” Ms. Nappier said in the statement.
“The board's shortsighted and potentially destabilizing action brings the potential for Disney to return to a time of imperial CEO leadership, unaccountable CEO compensation and lackluster company performance,” Ms. Nappier said.
Ms. Nappier is sole trustee of the $26 billion Connecticut Retirement Plans & Trust Funds, Hartford, which holds more than 600,000 shares of Disney with a combined value of $30 million as of Dec. 27.
In a separate statement Thursday on its global governance website, the $253.2 billion California Public Employees' Retirement System, Sacramento, said it supports calls for a separate chairman and CEO at Disney. CalPERS holds 5.65 million shares of Disney.
Earlier this month, the $157.8 billion California State Teachers' Retirement System, West Sacramento, said it would vote its almost 5.3 million shares against Disney's executive compensation and the re-election of Mr. Iger to the board. Ms. Nappier in her statement said she supports the CalSTRS initiative.
“The facts are irrefutable: Disney delivered record net income, revenue and earnings per share and exceptional shareholder returns in fiscal 2012,” according to a Disney statement. “Total shareholder return for the year was 76.3%, compared to 30.2% for the S&P 500. Disney's performance during Mr. Iger's tenure has been nothing short of spectacular.”
Disney's annual meeting is scheduled for March 6.

The key bit here is “Total shareholder return for the year was 76.3%, compared to 30.2% for the S&P 500." That is an insane ROI (Return on Investment) and proves exactly how short sighted they are.

 

[PhotoDave219]

I agree, it seem like Disney feels that having exclusive licensing to classic stories is all they have to do. For example, they made the OZ movie but I keep reading reviews saying it was terrible, but that Disney will make money on it nonetheless because everyone will go to see it. Will the new Star Wars movie be as "thin" as OZ? I will save my personal opinion of OZ for when I see it but it's definitely concerning to see such a classic off to such a rough start. It's just not enough to have these stories and use them, they have to make them great. But it seems like the quality is not a huge concern for them. Sure a little bit of concern, but kinda like - oh it would be nice if it's a good movie too.

I saw it .... saw it at the Disney Parks Blog meet up. It was an awful movie. Visually stunning tho.

 

[Darth Sidious]

This is interesting....


Connecticut, CalPERS join CalSTRS in urging Disney to split chairman, CEO roles





The key bit here is “Total shareholder return for the year was 76.3%, compared to 30.2% for the S&P 500." That is an insane ROI (Return on Investment) and proves exactly how short sighted they are.

Unfortunately it is also the reason why Iger will remain both the chairman and CEO. My colleagues here in the financial world really only care about now and 'what have you done for me lately'. The smart investors, aka the investors who don't lose their money faster than they made it, look long term.

 

[Genie of the Lamp]

The sooner Iger leaves, the better. I am really hoping Oz bombs and NextGen falls flat on it's face.

If it helps, Rotten Tomatoes has Oz at a 70% approval rating (7/10 critics liked the film). They just put these reviews up 2 days ago. So over the next few days, I'd imagine as more critics post on their, the rating here would decline. Mostly the ones that liked it said it was decent, but not great. Visually stunning but the plotline was too out of place and jumbled. But back to this, the more I see reports like this, the more I see a Eisner 2.0 re occuring. So I'll take @PhotoDave219 word for the film. So, how bout that Shareholder's meeting in Phoenix. Countdown is now 4 days. Gosh I wish I was able to attend and hear all the exciting topics they'll be discussing. We can say though that interesting will go down. Here's the link to the Rotten Tomatoes reviews so far:
http://www.rottentomatoes.com/m/oz_the_great_and_powerful/

 

[HMF]

If only Roy was still alive.

 

[PhotoDave219]

If it helps, Rotten Tomatoes has Oz at a 70% approval rating (7/10 critics liked the film). They just put these reviews up 2 days ago. So over the next few days, I'd imagine as more critics post on their, the rating here would decline. Mostly the ones that liked it said it was decent, but not great. Visually stunning but the plotline was too out of place and jumbled. But back to this, the more I see reports like this, the more I see a Eisner 2.0 re occuring. So I'll take @PhotoDave219 word for it. So, how bout that Shareholder's meeting in Phoenix. Countdown is now 4 days. Gosh I wish I was able to attend and hear all the exciting topics they'll be discussing. We can say though that interesting will go down.

As for Oz.... It is every much the charlatan and huckster that the wizard is supposed to be. All style, no substance and leaves you thoroughly disappointed and swindled at the end. Franco's acting is flat, the screenplay is campy and falls flat. Graphically, the visuals are everything that the land of Oz should be: stunning, amazing and full of childlike wonder. Shame the script comes nowhere close to matching it.

 

[HMF]

As for Oz.... It is every much the charlatan and huckster that the wizard is supposed to be. All style, no substance and leaves you thoroughly disappointed and swindled at the end. Franco's acting is flat, the screenplay is campy and falls flat. Graphically, the visuals are everything that the land of Oz should be: stunning, amazing and full of childlike wonder. Shame the script comes nowhere close to matching it.

Well that's a relief. (In the grand scheme of things)

 

[Bolt]

The sooner Iger leaves, the better. I am really hoping Oz bombs and NextGen falls flat on it's face.

Wow - tell us how you really feel...

 

[misterID]

As for Oz.... It is every much the charlatan and huckster that the wizard is supposed to be. All style, no substance and leaves you thoroughly disappointed and swindled at the end. Franco's acting is flat, the screenplay is campy and falls flat. Graphically, the visuals are everything that the land of Oz should be: stunning, amazing and full of childlike wonder. Shame the script comes nowhere close to matching it.

I read the script a long time ago and thought, "meh." Seems like they didn't change much.

I'm starting wonder if Iger even cares at this point.

 

[Lord Pheonix]

miss eisner yet???

 

[HMF]

miss eisner yet???

Eisner at his worst was better than Iger.

 

[maxairmike]

As for Oz.... It is every much the charlatan and huckster that the wizard is supposed to be. All style, no substance and leaves you thoroughly disappointed and swindled at the end. Franco's acting is flat, the screenplay is campy and falls flat. Graphically, the visuals are everything that the land of Oz should be: stunning, amazing and full of childlike wonder. Shame the script comes nowhere close to matching it.

To the bolded, why does this sound so familiar to me? Style over substance...didn't something pretty new at WDW open to much the same criticism? One might get the impression there's something to be concerned about.