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

[DreamfinderGuy]

Well, that only took me three days to catch up on this whole thread. Guess I'm just in time to see the reactions to the earnings call?

 

[_caleb]

So because I can write well, I’m the boogeyman. You all are trained well.

In hindsight, the Fox merger was a catastrophic mistake - Iger should without a doubt be holding the bag on that. But pinning thousands of job losses in Florida to him when there’s not a single hospitality business around that hasn’t cut staff by 50-80% ... who’s really holding the axe here.

The tourism industry has taken a massive hit AND Iger has done a bad job with the parks. Can’t it be both?

I know, I know, stay in my lane.

 

[Sirwalterraleigh]

So because I can write well, I’m the boogeyman. You all are trained well.

In hindsight, the Fox merger was a catastrophic mistake - Iger should without a doubt be holding the bag on that. But pinning thousands of job losses in Florida to him when there’s not a single hospitality business around that hasn’t cut staff by 50-80% ... who’s really holding the axe here.

It’s the “tone”... not the writing style. And it does not say “new guy/girl”

It is what it is.

 

[tirian]

It is not accurate with the price we pay on almost everything. What enough people are willing to pay on the open market is the price we pay. Now the cost of labor can impact if product is viable anymore or lead to finding cheaper ways to deliver the product to avoid the labor cost, but it doesn't impact what we actually pay for the product.

That doesn’t quite apply to the parks within WDW, which has become a closed economy based on Disney’s own decisions more than typical laws of supply and demand. DDP reservations control the demand. Prices are outrageous to make the DDP look like a good deal. This is a well known marketing ploy. Add the trapped audience staying at Disney-owned resorts without vehicles, and it’s pure greed. The company takes advantage of its “guests”—there’s no way around that fact.

Disney Springs operates closer to normal economics.

Now back to the earnings report: we’ll see what happens when corprorate doesn’t have its WDW cash cow to milk.

 

[Sirwalterraleigh]

The tourism industry has taken a massive hit AND Iger has done a bad job with the parks. Can’t it be both?

I know, I know, stay in my lane.

1. Yes

2. Been saying that for years...but that involves more than a superficial analysis of the quarterly call and the stock price.

 

[_caleb]

So how will they structure the earnings call presentation? Will Chapek speak at all? Will they make D’Amaro present the parks news?

 

[MisterPenguin]

I wonder if in the earnings call they keep secret the layoffs that happened this week. I wonder if they'll lie about if asked point blank about it.

 

[brianstl]

So how will they structure the earnings call presentation? Will Chapek speak at all? Will they make D’Amaro present the parks news?

I think there is zero chance we hear from Josh. Probably just Christine McCarthy, Chapek and maybe Iger (who will be addressing whatever good new is in the report if he is there).

 

[Sirwalterraleigh]

So how will they structure the earnings call presentation? Will Chapek speak at all? Will they make D’Amaro present the parks news?

Chapek has to do the talking...one would think?

Everyone knows Iger is pulling the strings...but at some point Wall Street will not like “shadow ceo”. It looks feckless. The California public employees pension fund has “concerns”...I’m sure.

 

[Sirwalterraleigh]

I wonder if in the earnings call they keep secret the layoffs that happened this week. I wonder if they'll lie about if asked point blank about it.

Labor typically isn’t discussed in Many calls

 

[larryz]

You’re a bright boy...I think you made a red herring argument that’s common. That doesn’t have to be a 1:1 correlation. Good management can increase wages and reap benefits longterm that doesn’t make it such direct arithmetic

But you know the golden parachutes have to be fully inflated when the plane goes down...

 

[Sirwalterraleigh]

But you know the golden parachutes have to be fully inflated when the plane goes down...

Wait...we’re talking “reality” here?!?

I thought we were doing “theory”

I’m sorry...my bad

 

[DisneyDebRob]

Well, that only took me three days to catch up on this whole thread. Guess I'm just in time to see the reactions to the earnings call?

Just in time. I believe it’s 4:30?

 

[larryz]

Just in time. I believe it’s 4:30?

It's 4:30 somewhere...

 

[DisneyDebRob]

I wonder if in the earnings call they keep secret the layoffs that happened this week. I wonder if they'll lie about if asked point blank about it.

Lie? They would never do that Mister.

 

[Sirwalterraleigh]

It's 4:30 somewhere...

About 400 nautical miles west of the azores?

 

[DisneyDebRob]

It's 4:30 somewhere...

My bad. I always assume everyone should be on east coast time like myself.

 

[Ojo4]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

 

[brianstl]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

The only big surprise that has a chance of happening today during the conference would be in any future guidance they give.

 

[Askimosita]

Disney’s Q3 FY20 Earnings Results Webcast - The Walt Disney Company

Listen here: https://thewaltdisneycompany.com/app/uploads/2020/07/q3-fy20-earnings.mp3 DOWNLOADS: Earnings Report Financial Reconciliations Audio Transcript Forward-Looking Statements: Management believes certain statements in this call may constitute “forward-looking statements” within the...

thewaltdisneycompany.com

Just in case you wanted the link