On layoffs, very bad attendance, and Iger's legacy being one of disgrace

[Nubs70]

Not sure why your quoting me and are all foamy. I was responding to Trainchaser's post about DD shutting down 800 stores and clarifying what they are and why they are.

As to the rest of the your post, if you do some research on all those name brand stores/restaurant bankruptcies, would see a reoccurring thread running through most of them. They are trying to shed debt. Most were bought out by private equity companies, who then had the company borrow money to pay the PE company for the privilege of being purchased. A no cost purchase. Then they had any real estate they hold sold and the proceeds sent back to them as a special dividend. They then charge millions of dollars for management fees for their so called advice. So the company has no cash reserves and Billions in debt. Of course they have to file Chapter 11. Some will survive the process and some won't. The ones that do, will be loaded up with more debt and then Chapter 7'd. I feel sorry for the workers, but when a company is bought out by PE, its a kiss of death to the company. Any employee should head out the door before it implodes.

This same thing happened during the Great Recession...... Linen N' Things, Toy R Us, etc. Same thing.

Very nice summary of the PE process.

 

[Lilofan]

If a business division is performing badly enough that the company thinks cocaine would play better in the media, the company has some serious issues.

Some are just in denial on how stupid John Skipper was to get fired by Iger.

 

[CaptainAmerica]

Read up on why and how John Skipper was fired.

I know exactly why and how John Skipper was fired.

 

[CaptainAmerica]

If a business division is performing badly enough that the company thinks cocaine would play better in the media, the company has some serious issues.

Correct.

 

[peter11435]

John Skipper was ousted because he was running ESPN into the ground. The cocaine bit is what's known as a "cover story."

You know that’s not true right?

 

[WDW Pro]

I used to have that mentality around here but I decided not to ignore anyone and honestly I'm glad I did that. I've actually come to enjoy most of my conversations with @Sirwalterraleigh and actually have more common ground that initially thought.

I have a total on one ignored individual, and only two more who are trying to get on that list. That's pretty great on a site with hundreds or thousands of active contributors.

A year ago the “insiders” were popping in in similar fashion about what a dismal failure SWGE was because it wasn’t seeing the crazy attendance they were anticipating and how this would lead to bad times.

Then Rise of the Resistance opened and 10,000 people were lining up at 5 AM. Oh whoops, it turns out Disney was just being overly cautious about what -might- happen and blocked too many people from being able to go, and most were just waiting for the main attraction to open.

Not saying the current situation isn’t bad, or not a much bigger deal than the success or failure of a new land, but maybe give it more than two weeks for Disney to correct course before calling bankruptcy.

Again, it’s been two weeks.

I'm not sure that's an accurate synopsis of what insiders were saying.

 

[Lilofan]

I know exactly why and how John Skipper was fired.

"Substance abuse" , extortion by his coke dealer, Iger meeting with him on Friday, Skipper resigned on Monday, definitely a fall from grace. It's all documented.

 

[Sirwalterraleigh]

But he gave us lockdowns, face diapers, AND racist log flume rides all in ONE POST! Christmas morning (until it's cancelled).

...victor of the internet today

 

[Tom Morrow]

I'm not sure that's an accurate synopsis of what insiders were saying.

It absolutely was and I’ll dig up the threads and posts... if I feel like it.

 

[Sirwalterraleigh]

It's not a weird way. Its unethical. Its all but illegal. Passholders should have been given the option of freezing their pass until Disney is willing to honor the terms of the pass as marketed.

But it’s covered under terms and conditions and right of refusal when you buy your tickets.

The reality is we have “no power”...only bad PR and future profits hold them in check

 

[Lilofan]

It would probably be Comcast or some other piece of ....

Comcast tried to buy TWDC. The Disney Board said their offer was too low.

 

[Mr Bill]

Why are they artificially capping demand on specific TYPES of guests? Seems like could at least unblock Cast Members same-day to get some F&B revenue.

My guess is they don't want a situation where resort guests can't get into a park because local APs reserved all the slots. Make sure the bigger spenders can get in first, then leave the rest of capacity for the day trip folks.

 

[CaptainAmerica]

"Substance abuse" , extortion by his coke dealer, Iger meeting with him on Friday, Skipper resigned on Monday, definitely a fall from grace. It's all documented.

Those are things that happened. They're not the reasons they happened.

 

[wdwmagic]

I've been told the property as a whole is profitable right now, but just, and is improving for the most part.

Some areas are performing better than expected, others are below - particularly EPCOT. This shouldn't really come as a surprise, as the park operated as a park-hop due to its limited headline attractions. All attention is on the Studios for most guests, and of course MK is always a popular choice.

Here is a photo walk around EPCCOT yesterday, around midday. Shots are not designed to emphasize high or low guest numbers, just the view as it happened.

Walk-through of EPCOT July 29 2020

Walk-through of EPCOT July 29 2020

www.wdwmagic.com

Numbers are not in the hundreds, but way below the 10,000+ goal. I'm told some type of attendance driver is being looked at.

 

[UNCgolf]

Are you joking?

Skipper's contract was extended for 4 years roughly a month before he stepped down. Do you really think they extended his contract and then decided to fire him right after? Do you think Disney is that incompetent?

The only people I've ever heard kick around the idea that Skipper was fired for business reasons are people who think ESPN was too political. It's basically a conspiracy theory.

 

[1HAPPYGHOSTHOST]

Oh god, it's spreading. Let's explain jokes here. Someone said the Christmas parties were coming back in some way, shape, or form. I used sarcasm to indicate that I disagree. What's the issue here?

Wooosh!

 

[peter11435]

I'm told some type of attendance driver is being looked at.

I’m sure they will “cook” something up.

 

[Sirwalterraleigh]

I had COVID in March. My wife is a nurse in Mass, brought it home. It's literally almost exclusively a 90 year old plus nursing home problem. I have a pretty good grasp on what is going on. Have you had COVID?

Absolutely not...

But if I had it...i’m 99.9% sure i wouldn’t be spouting debunked myths about closures “killing” people and things...

Because as predicted by all the reputable economists and doctors - the “start/stop” of non-uniform policy and not tying off the virus is going to cause more, longer economic loss than if it had been handled. Exactly like they said it would up front.

Especially to a business like Disney. Instead of a lost spring/summer...their 2021 is all but wrecked now.

I love the WEEI Gerry Callahan angry prose take though...always entertaining.


And as an aside...I was in Orlando - with quite a large number of Korea, Japanese and European travelers in late January.

My entire family was sick in varying symptoms/degrees the month of February. Which is unusual because we rarely are...

I actually was sent to the hospital from my general doctor on 2/12...with symptoms like diverticulitis. Only a mild fever.

6 hours later, full CATS, ultrasound, pneumonia, mono and flu tests ...absolutely nothing.

Never had symptoms like that or even close.

Did we have covid? I’d say chances are 50/50 at least.

 

[Sirwalterraleigh]

I've been told the property as a whole is profitable right now, but just, and is improving for the most part.

Some areas are performing better than expected, others are below - particularly EPCOT. This shouldn't really come as a surprise, as the park operated as a park-hop due to its limited headline attractions. All attention is on the Studios for most guests, and of course MK is always a popular choice.

Here is a photo walk around EPCCOT yesterday, around midday. Shots are not designed to emphasize high or low guest numbers, just the view as it happened.

Walk-through of EPCOT July 29 2020

Walk-through of EPCOT July 29 2020

www.wdwmagic.com

Numbers are not in the hundreds, but way below the 10,000+ goal. I'm told some type of attendance driver is being looked at.

Even if they are “breaking even”...that’s not what the place is designed for. Not standard operating procedure or close.

I will accept the steep DVC discount AP when it rolls out - however. Just let me know when?

 

[capsshield]

maybe disney should market the 50th as $50 a day single ticket price, and $50 a night for hotels for a family of four on a 3 or 4 day ticket at value resorts.