A Spirited Perfect Ten

[GoofGoof]

Interesting. The company I work for must have a liberal PTO benefit. 5, 10, 15, 20, 25 days based on time with company plus 4 "personal days" each year. After five days of consecutive illness, PTO becomes short term leave (paid) for a certain number of days (can't recall ).

Most big companies I am familiar with have gone to PTO. I'd say on average 3 weeks but typically longer based on how long you have been with the company. My company starts with 4 weeks (5 for manager level and above) and maxes out at 7 weeks. This doesn't apply to union workers since all their benefits are collectively bargained. I've found that with PTO more people come to work sick to avoid wasting "vacation time". I've had to send people home to avoid infecting the whole office. It's the one downside to the PTO system.

 

[Phil12]

Of course The Huffington Post, the original source of the Disney CEO Fumbles Entry to China piece, has published a bevy of articles about China's anti-corruption campaign:

http://www.huffingtonpost.com/news/china-corruption/

There's hardly anything controversial in acknowledging that "a massive anti-graft campaign is just now rattling Beijing and beyond".

No, before The Huffington Post removed all reference to the article, they clearly stated that it was being removed because Gary Snyder failed to disclose his relationship with the Redstone family.

This is demonstrably false since the footnote to the article read:

"Gary Snyder is a member of the Redstone family, whose company, National Amusements, owns Viacom and CBS, among other media assets. He is an advisor on Western media and culture to China."​

Gary Snyder didn't lie or make false accusations.

The Huffington Post did.

The HuffPost said, "This blogger's posts are no longer available on The Huffington Post due to inaccuracies in representations he made regarding his professional affiliations." They did not state that he failed to disclose his relationship with the Redstone family.

 

[ParentsOf4]

The HuffPost said, "This blogger's posts are no longer available on The Huffington Post due to inaccuracies in representations he made regarding his professional affiliations." They did not state that he failed to disclose his relationship with the Redstone family.

Thanks for the exact wording. I've edited my post accordingly.

Recalling what @Lee wrote earlier:

A (possibly libelous) statement which they later removed.
I have independent sources. That statement was a smokescreen that was removed.

 

[ford91exploder]

Most big companies I am familiar with have gone to PTO. I'd say on average 3 weeks but typically longer based on how long you have been with the company. My company starts with 4 weeks (5 for manager level and above) and maxes out at 7 weeks. This doesn't apply to union workers since all their benefits are collectively bargained. I've found that with PTO more people come to work sick to avoid wasting "vacation time". I've had to send people home to avoid infecting the whole office. It's the one downside to the PTO system.

In NE 5-10 days is typical for medium scale enterprises, With the level of real unemployment above 10% (as measured by the more accurate labor participation rate vs the heavily cooked 'unemployment' rate) there is no need to offer vacation time for most employees. And yes working sick is a real problem up here.

 

[PhotoDave219]

Thanks for the exact wording. I've edited my post accordingly.

Recalling what @Lee wrote earlier:

So does the Board of Directors care? Are they even aware of What is going on here or in China?

It just looks like they're screwing this up as badly as DLP. And we're still paying for that mistake.

I still do not get why they do not focus on their core theme parks. I really don't. Orlando makes the most money for P&R and is the largest family entertainment resort in the world and they're treated like the proverbial redheaded stepchild.

I understand the need to capture emerging markets overseas but its like they have no idea what they're doing. I made the observation recently that TWDC is entering Shanghai market playing by American rules rather than by Chinese. Seems like a fundamental basic flaw to the entry of that market, because China isn't going to roll over and change how business is done. IMO.

 

[PhotoDave219]

And why the hell does USC have a former model as the head of it's journalism program?!?! A former TV talking head thats done little serious journalism?! Makes me angry just thinking about it....




(* In full disclosure, I have done work for the Huffington Post)

 

[ParentsOf4]

As far as what got Iger so upset, that's a mystery to me. Nothing in that article was all that controversial. It must have been something he planned to say next.

IMO, the article was antagonistic. I can imagine how someone on the receiving end would have been irritated.

The real problem is that this is a high-cost/high-risk project; not the best way for Disney to enter the market.

As @the.dreamfinder wrote:

Or that Disney picked the wrong venture to make its grand entrance into China. A while back I linked to a number of comments Jay Rasulo made to an investors conference on Disney's international business. His major point was that the Disney Channel is the single greatest means that folks, children in particular naturally, are exposed to the BRAND. He then stumbles around the issue of not having a Disney Channel in China by saying SDL will be a sufficient replacement. Hold up!! You just said the Disney Channel is the best way to introduce international audiences, many of whom don't have a cultural connection to the company's work, but you're going to go with a theme park?

@WDW1974 suggested the same:

But realize this: the reason no deal was reached for a resort in the mainland while Michael Eisner was running Disney was because he wouldn't capitulate to terms like this. Control in name only. He also steadfastly refused to sign any deal that didn't include the Disney Channel coming to China to get people up on the BRAND and sell it many years ahead of a resort opening. He may have had his issues, but being a top-notch negotiator wasn't one of them.

Having the Disney Channel in China would have been a relatively low-cost way to introduce the public to the Disney brand. If they didn't embrace the product, then Disney could walk away on the cheap.

I am guessing that the Chinese government didn't want American pop culture; they wanted a massive capital project with thousands of jobs. This is not something Disney can walk away from if it fails. If it fails, Disney will be forced to throw good money after bad.

 

[ford91exploder]

I am guessing that the Chinese government didn't want American pop culture; they wanted a massive capital project with thousands of jobs. This is not something Disney can walk away from if it fails. If it fails, Disney will be forced to throw good money after bad.

Based on being there a few times I would say that's a good guess, China does not want american pop culture, They want elements of it sure but the CCP's Central Committee sees American culture in the aggregate as 'disruptive to public morals'.

CCP and provincial government wanted the capital project and the jobs it would bring, Disney fell for this one hook line and sinker, I HOPE they pull it off because if they do not the US parks are going to feel the blowback for a long time.

Right now I'm giving Disney about a 40% chance of success with this project, As others noted MDE walked away from this when it was presented to him.

 

[flynnibus]

Good post. I just grabbed this one statement to make a point. If anyone is wondering why Disney Springs is going to be primarily 3rd party vendors that are just paying a lease to operate on Disney property this should answer your question. It's a classic example of the market leader learning something from number 2.

Their earning potential is much less by leasing space... But the risk is much less. I don't see it as a margin driver but more about reducing operating expenses.

 

[flynnibus]

Interesting. The company I work for must have a liberal PTO benefit. 5, 10, 15, 20, 25 days based on time with company plus 4 "personal days" each year. After five days of consecutive illness, PTO becomes short term leave (paid) for a certain number of days (can't recall ).

Yes quite good. My company is only 20 pto days regardless of tenure. Oh and they force 3-4 of those in year end company shutdowns. Short term and long term disability are health benefits outside of pto (and paid by the insurance companies when you use it)

 

[PhotoDave219]

Right now I'm giving Disney about a 40% chance of success with this project, As others noted MDE walked away from this when it was presented to him.

No, it will work. Eventually. Given enough money thrown at it. DLP works. They draw a crowd.... just not an Orlando style crowd.

 

[ford91exploder]

No, it will work. Eventually. Given enough money thrown at it. DLP works. They draw a crowd.... just not an Orlando style crowd.

My point was a financial success which I think the jury's still out on and Disney will be forced to make up any shortfalls.

 

[ford91exploder]

Their earning potential is much less by leasing space... But the risk is much less. I don't see it as a margin driver but more about reducing operating expenses.

Hm, Where have we heard that song before, Why yes WDW...

 

[lazyboy97o]

Remember TWDC is the perfect company it never makes bad decisions or does things which degrade the guest experience, Disney has never been better than it is today, We have always been at war with Eastasia...

@The Empress Lilly is hardly someone who refuses to question Disney.

No, it will work. Eventually. Given enough money thrown at it. DLP works. They draw a crowd.... just not an Orlando style crowd.

The problems with Disneyland Paris have never been centered around the park. It was hubris regarding the larger resort and the resulting financial arrangement that could only really work if everything exceeded already lofty expectations.

 

[PREMiERdrum]

So does the Board of Directors care? Are they even aware of What is going on here or in China?

It just looks like they're screwing this up as badly as DLP. And we're still paying for that mistake.

I still do not get why they do not focus on their core theme parks. I really don't. Orlando makes the most money for P&R and is the largest family entertainment resort in the world and they're treated like the proverbial redheaded stepchild.

I understand the need to capture emerging markets overseas but its like they have no idea what they're doing. I made the observation recently that TWDC is entering Shanghai market playing by American rules rather than by Chinese. Seems like a fundamental basic flaw to the entry of that market, because China isn't going to roll over and change how business is done. IMO.

It's the exact same strategy that GM, ironically an affiliate of Disney's, has followed for years. When Europe was hot? The throw piles of cash to buy Opel which has been a money pit since. Once China was the new destination? They back up the Brinks truck to the door to get as many products on the ground as possible. Nevermind that this strategy undermined and muddled their US turnaround plan, which, as well all know, led them to Bankruptcy once and they may be going down that road again.

And why the hell does USC have a former model as the head of it's journalism program?!?! A former TV talking head thats done little serious journalism?! Makes me angry just thinking about it....
(* In full disclosure, I have done work for the Huffington Post)

There are *very* few decent Journalism programs left in academia. I've been out 9 years, and the decline in that time is staggering.

 

[Darth Sidious]

Or better yet trade in 1 American for 2 Indians and pay each Indian a little less than half of what the American was paid. Instant margin improvement.

Let's say a U.S. firm pays about 50k to a junior analyst, they'll be able to employ around 7 junior employees in Gurgaon, India or Mumbai, India.

 

[thehowiet]

So, did anyone here who had posts removed from the DPB and Propaganda Machine actually contact Dr. Blondie or Bland Tommy to demand answers?

#firewillowbay #disneycensors

I emailed both of them. I'm still waiting for a reply, but I'm not exactly holding my breath

 

[the.dreamfinder]

IMO, the article was antagonistic. I can imagine how someone on the receiving end would have been irritated.

The real problem is that this is a high-cost/high-risk project; not the best way for Disney to enter the market.

As @the.dreamfinder wrote:



@WDW1974 suggested the same:

Having the Disney Channel in China would have been a relatively low-cost way to introduce the public to the Disney brand. If they didn't embrace the product, then Disney could walk away on the cheap.

I am guessing that the Chinese government didn't want American pop culture; they wanted a massive capital project with thousands of jobs. This is not something Disney can walk away from if it fails. If it fails, Disney will be forced to throw good money after bad.

Keep in mind that Viacom has MTV and Nickelodeon channels in China.

 

[Rodan75]

Versus, say, financial journalists who often own stock in the companies they write glowing articles about.

There is nothing demonstrably false in the Disney CEO Fumbles Entry to China article. It's an opinion piece, like thousands of other opinion pieces that are published every day without drama. Perhaps the most derogatory statement in it is calling Iger 'vanilla on toothpaste' but that's just a less complimentary rephrasing of the 'solid as a rock' image Iger likes to foster. Certainly, no one would call Iger a dynamic, exciting CEO.

Really, besides calling into question the financial wisdom of Disney investing billions in China, exactly what is so controversial about the article?

As an opinion piece it shouldn't have been pulled. However, even @WDW1974's posts on this topic are based on discussions with people who think/believe/assume that Iger had the piece pulled. He was very specific in his phrasing in all of his posts to imply Iger had it pulled but always pulling away that he had direct proof, just the collected opinions that aligned with his. (which does have weight, just not as much as a smoking gun email)

I think we will never learn the full and true story, but the legend of this one will hang over Iger and more likely Willow Bay for a long time. Luckily for Iger, Amy Pascal and the Sony dealings were probably a bigger industry story at the same time so it never caught as much public heat.

IMO the folks pretending to be financial journalists who are just brokers pitching their own stock picks is far worse than anything we discuss here.

 

[ford91exploder]

Keep in mind that Viacom has MTV and Nickelodeon channels in China.

Which have some american content but are oriented towards China, Which is a smart move on the Redstone's part