A Spirited Perfect Ten

[RandySavage]

No, that event was controlled and approved by the Chinese authorities. They may be 50/50 partners on paper, but this is China's Disney resort, not Disney's China resort. That's not going to change.

They're not 50-50 partners.

 

[ford91exploder]

He's the one who chose to do this, that's no one's fault but his own. MDE passed on a mainland resort because of the restrictions and risks, now we see why.

Yes MDE was wise enough to pass on doing business in China where the rule is whatever the CCP says the rules are at any particular moment in time.

 

[ford91exploder]

No, that event was controlled and approved by the Chinese authorities. They may be 50/50 partners on paper, but this is China's Disney resort, not Disney's China resort. That's not going to change even if Bob is allowed to be photographed at the resort.

If you recall Bob was sent back to the states with his tail between his legs during this opening because a photo of him in the Disney store was shared on Chinese social media. Yup Disney's really in the drivers seat on this one...

 

[the.dreamfinder]

They're not 50-50 partners.

57-43 and 30-70 in the two joint ventures which comprise the resort is close enough.

 

[Phil12]

If this goes to the States, I wonder if Iger will try to somehow distance himself from the whole debacle.
But after the famous missing 800m, I hardly think it will be possible lol.

These rumors take on a life of their own. No one ever said $800 million is missing, not even Spirit.

 

[RandySavage]

If you recall Bob was sent back to the states with his tail between his legs during this opening because a photo of him in the Disney store was shared on Chinese social media. Yup Disney's really in the drivers seat on this one...

Iger was over there for the Tomorrowland movie opening and Disney Store opening in May 2015. A photo appeared in Chinese and International Media, even though we were told no such photos would appear. Then the story was: "He was sent back early with his tail between legs because that unauthorized photo was released to the media." I just don't buy that.

The narrative here for months, if not years, had been that Iger would not be allowed to be the face of SDL, because this is China's Disney park (Shendi are the majority owners after all, Disney is 70-30 in the management company) not Disney-Invades-China. Then came the huge media event in July where Iger and his western generals like Weis and Gas unveiled their park in Shanghai to the international media with nary a Chinese/Shendi official in sight. That conflicted a bit with what I had been reading here for some time.

 

[ford91exploder]

Iger was over there for the Tomorrowland movie opening and Disney Store opening in May 2015. A photo appeared in Chinese and International Media, even though we were told no such photos would appear. Then the story was: "He was sent back early with his tail between legs because that unauthorized photo was released to the media." I just don't buy that.

The narrative here for months, if not years, had been that Iger would not be allowed to be the face of SDL, because this is China's Disney park (Shendi are the majority owners after all, Disney is 70-30 in the management company) not Disney-Invades-China. Then came the huge media event in July where Iger and his western generals like Weis and Gas unveiled their park in Shanghai to the international media with nary a Chinese/Shendi official in sight. That conflicted a bit with what I had been reading here for some time.

I suggest you go back and read this thread about that very incident @WDW1974 described Iger as haggard and looking like he slept in his clothes and he was back several days before he was scheduled to return perhaps @Lee can provide a refresher on this incident.

We also have the strange incident where the highest ranking TWDC person onsite at SDL quit and ran to Singapore leaving his clothes and possessions behind.

Yeah there is nothing to see 'EVERYTHING IS AWESOME at Disney'

 

[ford91exploder]

These rumors take on a life of their own. No one ever said $800 million is missing, not even Spirit.

What spirit said was the 800 million was 'not accounted for' which is STILL the case, It's not 'missing' till Disney SAYS it's 'missing'

 

[BrianLo]

Iger was over there for the Tomorrowland movie opening and Disney Store opening in May 2015. A photo appeared in Chinese and International Media, even though we were told no such photos would appear. Then the story was: "He was sent back early with his tail between legs because that unauthorized photo was released to the media." I just don't buy that.

The narrative here for months, if not years, had been that Iger would not be allowed to be the face of SDL, because this is China's Disney park (Shendi are the majority owners after all, Disney is 70-30 in the management company) not Disney-Invades-China. Then came the huge media event in July where Iger and his western generals like Weis and Gas unveiled their park in Shanghai to the international media with nary a Chinese/Shendi official in sight. That conflicted a bit with what I had been reading here for some time.

Let me add on a bit to what Randy is saying. It's not that there hasn't been some behind the scenes drama. Of course there has... it's a multi-billion dollar theme park that is opening late... IN CHINA, with a Chinese consortium at the drivers wheel.

What I don't agree with is the absurd speculation that keeps getting put forth about how these things will actually translate into the future.

At the end of the day Iger got his splashy self-promotion.
At the end of the day Shanghai Disneyland will open its doors.
At the end of the day China WILL NOT 'seize control' of Disney and burn the company's corpse to the ground.

These speculations about the future are absurd. At the end of the day nothing will come of this other then some message board hand-wringing and a few irritated/nervous executives. Why a few people here actually seem to be hoping otherwise is beyond me...

 

[Next Big Thing]

Let me add on a bit to what Randy is saying. It's not that there hasn't been some behind the scenes drama. Of course there has... it's a multi-billion dollar theme park that is opening late... IN CHINA, with a Chinese consortium at the drivers wheel.

What I don't agree with is the absurd speculation that keeps getting put forth about how these things will actually translate into the future.

At the end of the day Iger got his splashy self-promotion.
At the end of the day Shanghai Disneyland will open its doors.
At the end of the day China WILL NOT 'seize control' of Disney and burn the company's corpse to the ground.

These speculations about the future are absurd. At the end of the day nothing will come of this other then some message board hand-wringing and a few irritated/nervous executives. Why a few people here actually seem to be hoping otherwise is beyond me...

Finally, someone with a grip on reality.

 

[lazyboy97o]

Ai Baojun is under investigation for graft and bribery in his role as Deputy Mayor of Shanghai. One of his key responsibilities as deputy mayor is to oversee tourism and government activities connected to it. The Shanghai tourism department controls the Chinese half of Shanghai Disneyland ergo Shanghai Disney resort is being investigated because it was under his authority as he is/was in charge of the municipal government's tourism department.

Not ergo at all. You're stretching and twisting.

All I can picture is 74 sitting there in front of his laptop with the Cheshire cat grin reading this stuff.

Except that he repeatedly and somewhat vociferously denied any suggestion of Disney being engaged in such activities.

57-43 and 30-70 in the two joint ventures which comprise the resort is close enough.

Again, no it isn't. 51% ownership is all one needs to control a company.

 

[The Empress Lilly]

These rumors take on a life of their own. No one ever said $800 million is missing, not even Spirit.

And of that $800 milion, only 43% is footed by Disney.

If a movie budget is increased ten percent, and the movie is not ten percent longer, does one say the money has gone missing?

Entire conspiracy theories are erected, hinging on little more than random semi-facts, and presented as a matter of great urgency that sometimes borders on manufactured hysteria.

 

[George]

All I know is that the 75 million I received from Yulin for "facade work" on Chip & Dale's Treehouse Treats has really helped pay down my monthly cable bill.

 

[GiveMeTheMusic]

And of that $800 milion, only 43% is footed by Disney.

If a movie budget is increased ten percent, and the movie is not ten percent longer, does one say the money has gone missing?

Entire conspiracy theories are erected, hinging on little more than random semi-facts, and presented as a matter of great urgency that sometimes borders on manufactured hysteria.

Disney has stated the $800 million has gone to adding new attractions, but the park's roster is almost identical to the one that leaked here in 2013. So...it obviously wasn't spent on last minute attraction adds like Disney says, so where did it go? The only thing that makes it suspicious to me is that they lied about it.

 

[jakeman]

All I know is that the 75 million I received from Yulin for "facade work" on Chip & Dale's Treehouse Treats has really helped pay down my monthly cable bill.

You saved a bundle using the Home Depot brand spray paint instead of Rustolium.

 

[ford91exploder]

And of that $800 milion, only 43% is footed by Disney.

If a movie budget is increased ten percent, and the movie is not ten percent longer, does one say the money has gone missing?

Entire conspiracy theories are erected, hinging on little more than random semi-facts, and presented as a matter of great urgency that sometimes borders on manufactured hysteria.

In this case the $800 million was entirely fronted by Disney, The reason it's significant is Iger has steadfastly refused to talk about it even when specifically asked about it TWICE on a past earnings call. If it was a budget overrun why not call it that the drama is entirely of Iger's creation. Why is Iger refusing to talk about nearly a billion dollars of a public companies money. That's the significance here.

What probably happened is like this Shendi said we can't finish the resort as planned we need $800 million from you to complete construction Disney paid the money because not finishing the resort properly would be a giant black eye for Disney Fast forward a bit and Disney wants an accounting of how the money was spent, Shendi refuses to give one Iger is now in a really bad position and he basically needs to stonewall.

We know that portions of the resort have been torn down and rebuilt because of substandard materials and construction all of which is under the control of Shendi And having done business in China I would be gobsmacked if there was NOT rampant corruption in a project of this magnitude. The question before us is how BAD was the corruption and how badly will Disney be damaged by Shendi's actions. And yes kiddies Disney could indeed lose it's interest in SDL if Shendi has engaged in large scale corruption.

There was a reason MDE passed on building in China, One of the biggest is that you as a company are completely at the mercy of your Chinese 'partner' who always holds the controlling interest in the so called joint venture and this is a legal requirement so that all foreign entities are under the control of Chinese nationals.

Did Disney ITSELF engage in corrupt practices, Extremely unlikely and made even more unlikely by the corporate culture of risk aversion. But if Shendi is found to have engaged in corrupt practices TWDC is going to reap the whirlwind.

 

[lazyboy97o]

Disney has stated the $800 million has gone to adding new attractions, but the park's roster is almost identical to the one that leaked here in 2013. So...it obviously wasn't spent on last minute attraction adds like Disney says, so where did it go? The only thing that makes it suspicious to me is that they lied about it.

Disney constantly twists things. Anything that fell behind but is now back on track would be "added" in Disney's spin. Just as every replacement now is an expansion because the park shrank whenever what is being replaced closed.

 

[The Empress Lilly]

In this case the $800 million was entirely fronted by Disney, The reason it's significant is Iger has steadfastly refused to talk about it even when specifically asked about it TWICE on a past earnings call. If it was a budget overrun why not call it that the drama is entirely of Iger's creation. Why is Iger refusing to talk about nearly a billion dollars of a public companies money. That's the significance here.

What probably happened is like this Shendi said we can't finish the resort as planned we need $800 million from you to complete construction Disney paid the money because not finishing the resort properly would be a giant black eye for Disney Fast forward a bit and Disney wants an accounting of how the money was spent, Shendi refuses to give one Iger is now in a really bad position and he basically needs to stonewall.

We know that portions of the resort have been torn down and rebuilt because of substandard materials and construction all of which is under the control of Shendi And having done business in China I would be gobsmacked if there was NOT rampant corruption in a project of this magnitude. The question before us is how BAD was the corruption and how badly will Disney be damaged by Shendi's actions. And yes kiddies Disney could indeed lose it's interest in SDL if Shendi has engaged in large scale corruption.

There was a reason MDE passed on building in China, One of the biggest is that you as a company are completely at the mercy of your Chinese 'partner' who always holds the controlling interest in the so called joint venture and this is a legal requirement so that all foreign entities are under the control of Chinese nationals.

It is my understanding that the $800 milion extra investment is proportional to the two companies' ownership, in accordance to their previous investments.

US entertainment company Walt Disney Co, together with its Chinese partner Shanghai Shendi Group, announced that they would invest an extra $800 million
[...]
Shanghai Shendi Group holds a 57 percent share of the Shanghai Resort while Disney owns the remaining 43 percent.

Financing of the additional investment will be proportional to the two companies' ownership, Walt Disney Co said in a statement on Monday.
http://www.globaltimes.cn/content/857580.shtml​

 

[jakeman]

It is my understanding that the $800 milion extra investment is proportional to the two companies' ownership, in accordance to their previous investments.

US entertainment company Walt Disney Co, together with its Chinese partner Shanghai Shendi Group, announced that they would invest an extra $800 million
[...]
Shanghai Shendi Group holds a 57 percent share of the Shanghai Resort while Disney owns the remaining 43 percent.

Financing of the additional investment will be proportional to the two companies' ownership, Walt Disney Co said in a statement on Monday.
http://www.globaltimes.cn/content/857580.shtml​

Stupid question time...

Does that mean it wasn't even $800 million of Disney's money? It was $424m of Shendi and $376m of Disney?

 

[Hakunamatata]

Stupid question time...

Does that mean it wasn't even $800 million of Disney's money? It was $424m of Shendi and $376m of Disney?

Most likely.