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

[Sirwalterraleigh]

Missed my point. The buyers right now are cash buyers, these places are closing quickly. No BS about this or that. I just want to show there are still zero programs out there and are heavily used by younger people.

I actually don't think it's related to any of that. People from the northeast have been moving near beaches in the south for many years now.

The golf course communities with housing in the Myrtle Beach area (not just Myrtle Beach, they're up the NC coastline as well) are filled with people from New York and New Jersey (not exclusively from there, but they're the majority) who moved there after retiring. Most of those purchases were made in the 10-15 years; there's a place a bit inland from my family's beach house in NC that has gone from no houses at all about 20 years ago to several hundred homes now, and that place is just one of many similar ones in the area -- in fact, a developer just purchased about 250 acres around another set of courses and the lots are selling so quickly that they've already started constructing dozens of homes. The people buying these places are generally using savings to purchase the homes rather than taking out huge mortgages.

Bluffton, as he mentioned, is at Hilton Head, so I'm sure things are similar there.

Mmmm...

Not that I’m doubting the situation on the Ground...but there’s a mixed message here. Cash buyers don’t fit the previous description of somehow “clueless” that was portrayed. I guess I missed that?

Anyway...I’ve been hearing about “booms” in the Carolinas since I was a kid...it’s always “Florida life”.

Doesn’t really make sense that it’s “taking hold” now. Really doesn’t. This too shall pass.

 

[_caleb]

I fully agree.... they got so greedy and arrogant!

You joined a Disney parks fan forum four years ago and your second post since then is to say that Disney is greedy and arrogant?

 

[Nubs70]

Law is suspended by Newsom EO, due to COVID.

WARN act is Federal law.

 

[Lilofan]

I actually don't think it's related to any of that. People from the northeast have been moving near beaches in the south for many years now.

The golf course communities with housing in the Myrtle Beach area (not just Myrtle Beach, they're up the NC coastline as well) are filled with people from New York and New Jersey (not exclusively from there, but they're the majority) who moved there after retiring. Most of those purchases were made in the 10-15 years; there's a place a bit inland from my family's beach house in NC that has gone from no houses at all about 20 years ago to several hundred homes now, and that place is just one of many similar ones in the area -- in fact, a developer just purchased about 250 acres around another set of courses and the lots are selling so quickly that they've already started constructing dozens of homes. The people buying these places are generally using savings to purchase the homes rather than taking out huge mortgages.

Bluffton, as he mentioned, is at Hilton Head, so I'm sure things are similar there.

I read brand new beautiful condos at Bluffton, SC for $500K that may get you a fixed upper home in parts of the Northeast. It's a probably an enclave of many from the North coming down purchasing with cash. If one thinks the pizza, bagels and Chinese food are the same quality from up North, one is in for a big surprise.

 

[Lilofan]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

Some who buy and hold in the stock market have seen tremendous gains in their net worth. It's not tourists from other countries because of covid right now but many stateside are reaping the benefits of their wealth from stock market success and paying cash at times for purchases big and small.

 

[asianway]

WARN act is Federal law.

The 60 day notice requirement is not

 

[Lilofan]

The 60 day notice requirement is not

I don't think so. WARN 60 day notice must be given to staff and other parties that need to know.

 

[Heppenheimer]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

It's not just the south. A not insignificant number of older, wealthier people from northeastern cities who can work from home have moved to suburban or rural regions. Here in Vermont, the real estate market has also been surprisingly hot. Anything waterfront property gets snatched up immediately.

 

[CaptainAmerica]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

 

[Lilofan]

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

And I saw NJ has one of the highest real estate bankruptcies in the nation. One wonders why.. Paying a half million for a fixer upper? No thanks.

 

[Heppenheimer]

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

As I noted, it's pretty much an exodus from the cities in general. Some are heading south, some are just heading out to the regional suburbs and exurbs, and some are fleeing into far-flung rural areas.

I'm guessing with all the things people say they like about city life being closed or unavailable, being stuck cramped together in an ugly, dirty concrete jungle can quickly lose its allure.

 

[flynnibus]

WARN act is Federal law.

Cali has their own version too... with even greater protections (shocker... i know...)

 

[Disstevefan1]

The majority of wdw clientele is from the east coast and upper Midwest of the US.

Out of towners...not Florida res...not APs...not overseas international travelers.

I think I see a slight problem with you’re “the people WANT to come back” approach.

They really don’t.

I hear ya. In that case there is no harm in giving APs more spots, still using the park reservation system and limited capacity. But they won’t and the resort guest calendar is solid green.

I know, APs do not spend the $$ like on site guests but they do still spend and that’s better than zero. The parks are open after all, they should let who wants in, in, until they hit their limited capacity.

 

[CaptainAmerica]

I hear ya. In that case there is no harm in giving APs more spots, still using the park reservation system and limited capacity. But they won’t and the resort guest calendar is solid green.

I know, APs do not spend the $$ like on site guests but they do still spend and that’s better than zero. The parks are open after all, they should let who wants in, in, until they hit their limited capacity.

How does the system work for APs with hotel reservations?

I've always felt that hotel reservations* should make you exempt from all blockout dates, whether you're an AP, Cast Member, or anything else. If you're paying for a week at a Disney resort, you should know you'll be able to get into the parks whether it's COVID time or "regular" time.

*Excluding the campground, otherwise you'd have passholders and cast members gobbling up cheap reservations and not even staying there, just to get into the parks.

 

[Nubs70]

The 60 day notice requirement is not

But a 60 day payout is if notification of mass.layoff is not is.

 

[SteamboatJoe]

As I noted, it's pretty much an exodus from the cities in general. Some are heading south, some are just heading out to the regional suburbs and exurbs, and some are fleeing into far-flung rural areas.

I'm guessing with all the things people say they like about city life being closed or unavailable, being stuck cramped together in an ugly, dirty concrete jungle can quickly lose its allure.

I think this a bit of an overgeneralization. I live just outside a city in the Heartland with more than one major league sports team. The city's population is estimated to have grown nearly 15% in the past decade. The growth isn't at the expense of the suburbs or exurbs either. The metro area grew by nearly 12% during that same time span.

Despite the popular narrative and media portrayals, there are areas in the Midwest which are actually thriving. Apartments and condos are springing up everywhere on in my region, and not just on fringe greenfields. Properly priced houses under $300k (which is still middle class in my neck of the woods) are selling the day they go on the market. Those online real estate websites estimate the house in a 60 year old neighborhood I had to overpay to get 3 years ago has already increased in value by over 20%.

 

[larryz]

*Excluding the campground, otherwise you'd have passholders and cast members gobbling up cheap reservations and not even staying there, just to get into the parks.

Not like that ever happened in the past...

 

[robhedin]

...It’s amazing how many people can give the same story and still have it rejected outright.

It's amazing how many people extrapolate their locality to the entire nation too! I'm sure that people that live in the NE and MW, or really anywhere that you really need to fly to get to WDW/Florida, are much less likely to come. At the same time, I'm not seeing that in GA; I spoke with some friends in Raleigh last night who are driving to Florida next week to go to Daytona for a reptile show (they wanted to spend a day at Disney, but saw the restrictions and decided to just stay at the beach) . Another couple of couples who are going on a trip together are headed to Destin. If you're "nearby", the equation changes somewhat.

That said, I fully agree that the equation is changed, even for them-- even though I took about 10 days when WDW opened, I'm only going for a long weekend at the end of the month (8/28-UOR,8/29-MK,8/30-Discovery Cove,8/31-DHS) and I'm not staying at a Disney resort because it's not worth the added cost vs the competition. Most others I know that are/do go down now (whether to the panhandle/beaches or central florida) are also going for a shorter time and not staying on property (except for one person who owns DVC). While we will spend (we averaged around $140/day per person on food and stuff in the parks for the 3 days we were able to get a park reservation at Disney last month), that's not to the same level as someone who flies in for a week.

 

[Heppenheimer]

I think this a bit of an overgeneralization. I live just outside a city in the Heartland with more than one major league sports team. The city's population is estimated to have grown nearly 15% in the past decade. The growth isn't at the expense of the suburbs or exurbs either. The metro area grew by nearly 12% during that same time span.

Despite the popular narrative and media portrayals, there are areas in the Midwest which are actually thriving. Apartments and condos are springing up everywhere on in my region, and not just on fringe greenfields. Properly priced houses under $300k (which is still middle class in my neck of the woods) are selling the day they go on the market. Those online real estate websites estimate the house in a 60 year old neighborhood I had to overpay to get 3 years ago has already increased in value by over 20%.

My reference is specifically the northeast, where several of the cities are expected to show population declines by the end of the year.

 

[legwand77]

It's amazing how many people extrapolate their locality to the entire nation too! I'm sure that people that live in the NE and MW, or really anywhere that you really need to fly to get to WDW/Florida, are much less likely to come. At the same time, I'm not seeing that in GA; I spoke with some friends in Raleigh last night who are driving to Florida next week to go to Daytona for a reptile show (they wanted to spend a day at Disney, but saw the restrictions and decided to just stay at the beach) . Another couple of couples who are going on a trip together are headed to Destin. If you're "nearby", the equation changes somewhat.

That said, I fully agree that the equation is changed, even for them-- even though I took about 10 days when WDW opened, I'm only going for a long weekend at the end of the month (8/28-UOR,8/29-MK,8/30-Discovery Cove,8/31-DHS) and I'm not staying at a Disney resort because it's not worth the added cost vs the competition. Most others I know that are/do go down now (whether to the panhandle/beaches or central florida) are also going for a shorter time and not staying on property (except for one person who owns DVC). While we will spend (we averaged around $140/day per person on food and stuff in the parks for the 3 days we were able to get a park reservation at Disney last month), that's not to the same level as someone who flies in for a week.

So true I know many families that have flown to Disney for week long trips, extended weekends, two that are going next week while kids are in virtual school and do school from the resorts.