Politics 28000 Layoffs coming to Disney's domestic theme parks - statement from Josh D'Amaro

[Lilofan]

While I agree with her sentiments, Disney doesn’t owe her any explanation.

If Iger or Chapek go before Congress and swear under oath to tell truth, than that's a whole new ball game when the elected officials ( ie Warren ) demands answers. And it won't be that Disney magic if one thinks the elected officials will be asking questions in a nice and respectful manner.

 

[Gringrinngghost]

Yes - please Disney... please explain to the senator why you didn't foresee this and why on earth you'd give billions in profits to your OWNERS. WHY DISNEY? WHY?

How's this, let's ask every major company that has filed for bankruptcy or laid people off due to Covid the following question: After years of record profits, how is it that you only have 2 weeks of cash on hand, Oh wait we don't have to, stock buybacks which also inflate market...

 

[Gringrinngghost]

If Iger or Chapek go before Congress and swear under oath to tell truth, than that's a whole new ball game when the elected officials ( ie Warren ) demands answers.

She's a senator. Last I checked the majority party decreed a 2 week recess all while they want to force house to make it law that give federal courts jurisdiction over lawsuits related to personal injuries or medical liability tied to coronavirus infections. So rest assured, Senate won't call them in with the current setting.

 

[Lilofan]

Our leaders should’ve handled the pandemic better and Disney probably wouldn’t be needing to lay off 28,000 cast members. While Disney’s choices were not in the best interests of its front line cast, as it almost never is, they did what they had to do as a business. There’s 100 ways to argue this, so for that reason, I digress.

Layoffs may get worse with the theme park division. France is closing up again and DLP theme park is closing again starting October 30.

 

[Gringrinngghost]

Covid has not had a statistically significant impact on the world's population.

The World Health Organization defines a COVID-19 death as one where COVID-19 is the underlying cause of death, encompassing both confirmed and suspected cases. Where COVID-19 is a contributing factor, but not the cause leading directly to death, it is not counted. However, the World Health Organization guidance was introduced in April 2020, by which stage countries may already have introduced their own guidance. Consequently, there are significant differences in how COVID-19 deaths are reported between countries.

"Almost certainly it's higher," said Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, at a virtual Senate hearing on May 12, 2020. "There may have been people who died at home who were not counted as COVID because they never really got to the hospital."

July: New MIT study says actual number of coronavirus cases is 12 times higher than reported — with 50 percent more deaths​

"For every two Americans that we know of who are dying of Covid-19, another American is dying," said Dr. Steven Woolf, author of the new research and director emeritus of the Center on Society and Health at Virginia Commonwealth University.

Plus to mention the sanitization protocols are magnitudes better than the 1918-1919 Spanish Flu Pandemic and the population has gone up by several billion. It won't shock me at all if COVID Deaths worldwide are at least 50% underreported.

 

[Robbiem]

They usually try and bury bad news on a Friday afternoon.

I wonder what will come out this week? With the new series of The Mandalorian eclipsing the rest of the company it may very well be a good day to bury bad news

 

[DVCakaCarlF]

Then in your eyes, What was the purpose of highlighting those expenditures by the senator?

she directly attributes the moves to “weakening” the company’s fiscal position. And if the money wasn’t spent, what do you think she infers it should have been used for?

hint: the answer is there in black&white in the first quote block where she directly attributes this behavior to Disney’s need to make changes during the pandemic.

She’s just peddling for votes.

 

[marni1971]

I wonder what will come out this week? With the new series of The Mandalorian eclipsing the rest of the company it may very well be a good day to bury bad news

I’d like to think that’s it for now. The news about DLP is already out today:

In line with latest direction from the French authorities, Disneyland Paris will be closing end of day on October 29th. In anticipation of celebrating the Christmas holiday season we will be taking reservations from December 19 – January 3 and hope to be open based on prevailing conditions and government guidance at that time. Disneyland Paris will also be closed from January 4 through February 12.

 

[GimpYancIent]

She’s just peddling for votes.

The Senator has logic issues, has difficulty with numbers and problems with historic facts. So she says what ever comes to her mind she believes the voters want to hear. Disney is making difficult and harsh business decisions. Like it or not, fair or unfair, business is still business and not personal, even for Disney.

 

[stevebwv]

No?

Let's quote the Senator directly from her letter...







No sir.. that's EXACTLY what she was trying to criticize and paint as somehow 'weakening' Disney's financial ability to weather this storm.

Never once acknowledging the reality of... layoffs happening because of NO WORK

Stop using facts in your arguments. These are irrelevant to the blame game.

 

[Kevin_W]

I’d like to think that’s it for now. The news about DLP is already out today:

In line with latest direction from the French authorities, Disneyland Paris will be closing end of day on October 29th. In anticipation of celebrating the Christmas holiday season we will be taking reservations from December 19 – January 3 and hope to be open based on prevailing conditions and government guidance at that time. Disneyland Paris will also be closed from January 4 through February 12.

What's the rationale behind opening for Christmas and then closing again? Was the January closure already planned?

 

[marni1971]

What's the rationale behind opening for Christmas and then closing again? Was the January closure already planned?

Initially it looked like a 3 month closure. They hope the virus numbers will permit a Christmas opening (TBD) and then close again to save money in the traditionally slow season.

Or it’s a full and very painful closure for 14 weeks minimum.

 

[Dukeblue1227]

Then in your eyes, What was the purpose of highlighting those expenditures by the senator?

she directly attributes the moves to “weakening” the company’s fiscal position. And if the money wasn’t spent, what do you think she infers it should have been used for?

hint: the answer is there in black&white in the first quote block where she directly attributes this behavior to Disney’s need to make changes during the pandemic.

First I’d like to just point to the fact you’re being a little condescending to others just because they read something in a different perspective than you. You are speaking as if your opinion of what Elizabeth Warren said is factual. Everything regarding politics is way too aggressive.

My take away is she is pointing to Disney as having been fiscally immoral in the past, treating its workers unfairly in the name of big profits for the rich (executives, shareholders). Yes, this is something every big corporation does as well, this is the result of a capitalist society. It doesn’t make it right morally or ethically. Stock buybacks have long been considered an unethical and immoral use of company cash. It’s also bad for the economy, and not a good long term position for a company as if supports short term gains, while slowing growth, preventing opportunities for job creation, among many other things beyond the point here.

I think her broader point is that now that we’re in a pandemic, rather than own up to their ill preparedness, and their decades of prioritizing the rich, they’ve now doubled down on it. In a time when the rich can comfortably get by and the lower and middle class need help and a lifeline because of an unforeseen global pandemic, Disney has decided to continue to punch down rather than have their executives take the brunt of the “pain.”

28,000 people can be out of work, at risk of homelessness and suffering, or a very small and only handful of super rich can hold off on upgrading their 2018 Yacht to the 2020 model, and just wait until 2022 maybe 2023 when things start slowly getting back to normal. I think that’s Elizabeth Warrens point, she has come out and said as much outside her words written down on paper. However I not you can say for certain.

 

[ImperfectPixie]

First I’d like to just point to the fact you’re being a little condescending to others just because they read something in a different perspective than you. You are speaking as if your opinion of what Elizabeth Warren said is factual. Everything regarding politics is way too aggressive.

My take away is she is pointing to Disney as having been fiscally immoral in the past, treating its workers unfairly in the name of big profits for the rich (executives, shareholders). Yes, this is something every big corporation does as well, this is the result of a capitalist society. It doesn’t make it right morally or ethically. Stock buybacks have long been considered an unethical and immoral use of company cash. It’s also bad for the economy, and not a good long term position for a company as if supports short term gains, while slowing growth, preventing opportunities for job creation, among many other things beyond the point here.

I think her broader point is that now that we’re in a pandemic, rather than own up to their ill preparedness, and their decades of prioritizing the rich, they’ve now doubled down on it. In a time when the rich can comfortably get by and the lower and middle class need help and a lifeline because of an unforeseen global pandemic, Disney has decided to continue to punch down rather than have their executives take the brunt of the “pain.”

28,000 people can be out of work, at risk of homelessness and suffering, or a very small and only handful of super rich can hold off on upgrading their 2018 Yacht to the 2020 model, and just wait until 2022 maybe 2023 when things start slowly getting back to normal. I think that’s Elizabeth Warrens point, she has come out and said as much outside her words written down on paper. However I not you can say for certain.

You nailed it. I've been accused of being anti-capitalism for years...I'm not in the least...I just think capitalism needs balance with ethics and morals so that it doesn't go unchecked and create the exact situation in which we now find ourselves.

 

[disdonald]

First I’d like to just point to the fact you’re being a little condescending to others just because they read something in a different perspective than you. You are speaking as if your opinion of what Elizabeth Warren said is factual. Everything regarding politics is way too aggressive.

My take away is she is pointing to Disney as having been fiscally immoral in the past, treating its workers unfairly in the name of big profits for the rich (executives, shareholders). Yes, this is something every big corporation does as well, this is the result of a capitalist society. It doesn’t make it right morally or ethically. Stock buybacks have long been considered an unethical and immoral use of company cash. It’s also bad for the economy, and not a good long term position for a company as if supports short term gains, while slowing growth, preventing opportunities for job creation, among many other things beyond the point here.

I think her broader point is that now that we’re in a pandemic, rather than own up to their ill preparedness, and their decades of prioritizing the rich, they’ve now doubled down on it. In a time when the rich can comfortably get by and the lower and middle class need help and a lifeline because of an unforeseen global pandemic, Disney has decided to continue to punch down rather than have their executives take the brunt of the “pain.”

28,000 people can be out of work, at risk of homelessness and suffering, or a very small and only handful of super rich can hold off on upgrading their 2018 Yacht to the 2020 model, and just wait until 2022 maybe 2023 when things start slowly getting back to normal. I think that’s Elizabeth Warrens point, she has come out and said as much outside her words written down on paper. However I not you can say for certain.

Hind sight is always 20-20
Do not disagree with what she said. US definitely has high executive pay than other nations and there is definitely a disconnect.
My only question? Where were these comments prior to the pandemic. Easy to say you need to have a huge rainy day fund, but this pandemic blindsided everyone and hit the tourism industry much harder. They were forced to close.
That is my only issue with her comments. If she really cared, we should have been hearing about this for the past 10 years from her.

 

[ImperfectPixie]

Hind sight is always 20-20
Do not disagree with what she said. US definitely has high executive pay than other nations and there is definitely a disconnect.
My only question? Where were these comments prior to the pandemic. Easy to say you need to have a huge rainy day fund, but this pandemic blindsided everyone and hit the tourism industry much harder. They were forced to close.
That is my only issue with her comments. If she really cared, we should have been hearing about this for the past 10 years from her.

Sometimes it takes a brick to the head (like a pandemic) for people to realize things aren't right.

 

[Dukeblue1227]

Hind sight is always 20-20
Do not disagree with what she said. US definitely has high executive pay than other nations and there is definitely a disconnect.
My only question? Where were these comments prior to the pandemic. Easy to say you need to have a huge rainy day fund, but this pandemic blindsided everyone and hit the tourism industry much harder. They were forced to close.
That is my only issue with her comments. If she really cared, we should have been hearing about this for the past 10 years from her.

More than fair, absolutely. Elizabeth Warren wears her “wall st sheriff” badge like a real badge and can get a little too over the top.

So she is certainly piling on a lot with hindsight. I think the “do the right thing now” which is what she says when she speaks is where she should have focused, because I think this thread alone points to going too hard on the past takes away from what’s important now.

There are things for everyone to learn from this, and we should strive as a nation to be better. Right now we have to get through it first, and pointing fingers isn’t the way.

 

[KBLovedDisney]

More lives have been destroyed by collateral damage due to lockdowns than from covid infections. For the record, I wear a mask, social distance, and lean to the left. To quote Spock " The needs of the many outweigh the needs of the few". Covid has not had a statistically significant impact on the world's population. Not to say it hasn't had an emotional impact.

I'm sorry, but "more lives have been destroyed by collateral damage due to lockdowns"? How about the more lives that have been lost due to the carelessness of them opening up businesses too soon and being less strict on the lockdown protocols because businesses are more important??

People have freakin died because we as a country (yes, the one I live in) thrive only due to business apparently.

...

Yep, let's open up businesses so we can make money and dumb down the factors of this deadly whatever it is.

We are so doomed.

 

[disdonald]

More than fair, absolutely. Elizabeth Warren wears her “wall st sheriff” badge like a real badge and can get a little too over the top.

So she is certainly piling on a lot with hindsight. I think the “do the right thing now” which is what she says when she speaks is where she should have focused, because I think this thread alone points to going too hard on the past takes away from what’s important now.

There are things for everyone to learn from this, and we should strive as a nation to be better. Right now we have to get through it first, and pointing fingers isn’t the way.

I like what you stated.
Maybe if the political leaders on both sides, yes both sides would have reached across earlier and followed your last paragraph, things may be better.

 

[flynnibus]

First I’d like to just point to the fact you’re being a little condescending to others just because they read something in a different perspective than you.

I’m saying don’t tell me something isn’t said when you can quote her exact words saying exactly that. Instead of what people talking about what they think she ‘meant’ I’m dealing in exactly what she said in her demands.

You are speaking as if your opinion of what Elizabeth Warren said is factual. Everything regarding politics is way too aggressive.

My take away is she is pointing to Disney as having been fiscally immoral in the past, treating its workers unfairly in the name of big profits for the rich (executives, shareholders). Yes, this is something every big corporation does as well, this is the result of a capitalist society. It doesn’t make it right morally or ethically. Stock buybacks have long been considered an unethical and immoral use of company cash. It’s also bad for the economy, and not a good long term position for a company as if supports short term gains, while slowing growth, preventing opportunities for job creation, among many other things beyond the point here.

I think her broader point is that now that we’re in a pandemic, rather than own up to their ill preparedness, and their decades of prioritizing the rich, they’ve now doubled down on it. In a time when the rich can comfortably get by and the lower and middle class need help and a lifeline because of an unforeseen global pandemic, Disney has decided to continue to punch down rather than have their executives take the brunt of the “pain.”

28,000 people can be out of work, at risk of homelessness and suffering, or a very small and only handful of super rich can hold off on upgrading their 2018 Yacht to the 2020 model, and just wait until 2022 maybe 2023 when things start slowly getting back to normal. I think that’s Elizabeth Warrens point, she has come out and said as much outside her words written down on paper. However I not you can say for certain.

listen... I don’t like the stock buybacks either... but my point about senator warrens letter and her attack is she tried to make an argument citing SPECIFIC actions and responses. She tried to nail together a specific set of actions and consequences together... play economist and CFO critic all in one.... trying to make this scenario into something it is not to try to play gotcha and advance an agenda.

And she got half the facts wrong along the way.

if she can’t convey her real intentions in her letter... don’t send it and then complain you don’t get a response to your absurd demands.

And you even say Disney is “ill prepared” - how is disney ill prepared here?