A Spirited Valentine ...

[ford91exploder]

Dodd Frank was/is an abomination. It's an example of everything that is wrong with Congress (basically a bunch of lawyers) attempting to pretend they understand finance and economics. It's because of things like Dodd Frank that I'm reluctant to advocate for further government regulation. However, there have to be some regulations and things like the abuse of stock buybacks is a prime target in my opinion.

No doubt there's some good synergies to be gained and it's probably not a bad move for Whole Foods overall. The fact that they were pretty much forced to put themselves up for sale was a bad thing. In this case it looks like it will have a happy ending but it could have gone a lot worse.

We could do far worse than to simply reinstate Glass-Steigall as the law of the land it was simple and to the point, Investment banking was to be COMPLETELY separate from commercial banking which prevented the investment banks from using the funds deposited in commercial banks as cheap financing for their deals.

That and removing 'safe harbor' provisions for share repurchases and ideally a maximum compensation rule for executives of public companies.

 

[GoofGoof]

We could do far worse than to simply reinstate Glass-Steigall as the law of the land it was simple and to the point, Investment banking was to be COMPLETELY separate from commercial banking which prevented the investment banks from using the funds deposited in commercial banks as cheap financing for their deals.

That and removing 'safe harbor' provisions for share repurchases and ideally a maximum compensation rule for executives of public companies.

Amen brother. Maybe you and I should run for Congress

 

[BlindChow]

when a couple of guys hijack a thread and start talking about stuff you haven't the least bit of interest in...

 

[ford91exploder]

It may not SEEM interesting but just imagine what Disney could do in the parks if they spent even a quarter of the money they are pouring down the drain for stock buybacks.

Perhaps a Pixar Place with rides worthy of the name, Australia added as a land to AK, SWL worthy of the name

Let your imagination fill in the blanks

 

[ford91exploder]

Amen brother. Maybe you and I should run for Congress

The idea has occurred to me and a few associates

 

[BlindChow]

YOU: imagine what they would spend on the parks if they weren't spending money elsewhere!

ROBERT IGER:

 

[GoofGoof]

when a couple of guys hijack a thread and start talking about stuff you haven't the least bit of interest in...

The economics and politics around the issue may be uninteresting or seem off topic, but it's a fact that TWDC spent over $20B buying back shares over the last 3 years. If they had even reduced their buybacks by a modest 20% it would have freed up $4B or enough cash to build an entire new theme park or even better drop a billion dollars on each of the 4 parks at WDW.

 

[BlindChow]

The economics and politics around the issue may be uninteresting or seem off topic, but it's a fact that TWDC spent over $20B buying back shares over the last 3 years. If they had even reduced their buybacks by a modest 20% it would have freed up $4B or enough cash to build an entire new theme park or even better drop a billion dollars on each of the 4 parks at WDW.

And I'm sure that's exactly what Disney would have done with that money...

 

[GoofGoof]

And I'm sure that's exactly what Disney would have done with that money...

They didn't. They used it for stock buybacks instead of investing it back in their business. That's the whole point of the discussion. Try to keep up

 

[Cesar R M]

Yes. That's the genius of the WDI plan. If they built Tatooine and the Mos Eisley Cantina fanboys would riot if it didn't look identical. Now they can build a "Cantina" on a random planet that has some details that resemble Mos Eisley without being held to the layout and look of that specific movie set. The Falcon may actually be a problem with Fanboys, they know every detail of that ship. It almost certainly won't match 100% but the vast majority of people who aren't hard core fans will still know it and love it.

They can play the game as well. Since in the force awakens, the ship was almost dismantled.
So they can have a little wiggle room imho.

 

[Cesar R M]

The economics and politics around the issue may be uninteresting or seem off topic, but it's a fact that TWDC spent over $20B buying back shares over the last 3 years. If they had even reduced their buybacks by a modest 20% it would have freed up $4B or enough cash to build an entire new theme park or even better drop a billion dollars on each of the 4 parks at WDW.

Or even a bigger fleet of DCL ships. Which are proven to be money makers.

 

[BrianLo]

The economics and politics around the issue may be uninteresting or seem off topic, but it's a fact that TWDC spent over $20B buying back shares over the last 3 years. If they had even reduced their buybacks by a modest 20% it would have freed up $4B or enough cash to build an entire new theme park or even better drop a billion dollars on each of the 4 parks at WDW.

I think this conversation has already been had approximately ten times in this thread and is covering no new ground, but is a thin veil of Mr. Exploder changing the topic because he was increasingly getting stuck in his web of bold predictions....

Oh look, ESPN is gonna crash the company.

A worthy conversation, but Spirited thread hijacking 101. Things always get a little awry the longer Spirit is away and it's not an atypical cast of characters that use these threads as their podium.

 

[ParentsOf4]

And I'm sure that's exactly what Disney would have done with that money...

Disney used to invest heavily in its U.S. theme parks until 9/11:

Prior to Bob Iger becoming CEO, Disney spent less than $5B in stock repurchases over a 30-year period. In Iger's first 11 years as CEO, Disney has spent more than $55B in stock buybacks.

As explained in Profits Without Prosperity, stock repurchases such as the ones pushed by Iger are probably the single greatest anchor on the U.S. economy.

As @GoofGoof suggests, Disney almost certainly would have built a 5th theme park in Orlando by now if not for the massive stock repurchases. Remember, prior to Disney's Animal Kingdom, the longest period between theme parks was 11 years. We are now approaching 20 years since DAK was built with no 5th Gate on the horizon, despite severe overcrowding at the parks.

 

[GoofGoof]

I think this conversation has already been had approximately ten times in this thread and is covering no new ground, but is a thin veil of Mr. Exploder changing the topic because he was increasingly getting stuck in his web of bold predictions....

Oh look, ESPN is gonna crash the company.

A worthy conversation, but Spirited thread hijacking 101. Things always get a little awry the longer Spirit is away and it's not an atypical cast of characters that use these threads as their podium.

Fair enough. I don't typically agree with our resident crumudgeon on a lot of the doom and gloom stuff, but in this case he's right. Like I said before, this isn't a Disney problem it's a much larger economic issue.

Disney used to invest heavily in its U.S. theme parks in until 9/11:

View attachment 212464


Prior to Bob Iger becoming CEO, Disney spent less than $5B in stock repurchases over a 30-year period. In Iger's first 11 years as CEO, Disney has spent more than $55B in stock buybacks.

As explained in Profits Without Prosperity, stock repurchases such as the ones pushed by Iger are probably the single greatest anchor on the U.S. economy.

As @GoofGoof suggests, Disney almost certainly would have built a 5th theme park in Orlando by now if not for the massive stock repurchases. Remember, prior to Disney's Animal Kingdom, the longest period between theme parks was 11 years. We are now approaching 20 years since DAK was built with no 5th Gate on the horizon, despite severe overcrowding at the parks.

Sadly, new cruise ships and a 5th gate at WDW might have been just the start. When challenged to come up with growth initiatives and given the budget to pull it off who knows what WDI might have come up with

 

[Kman101]

It may not SEEM interesting but just imagine what Disney could do in the parks if they spent even a quarter of the money they are pouring down the drain for stock buybacks.

Perhaps a Pixar Place with rides worthy of the name, Australia added as a land to AK, SWL worthy of the name

Let your imagination fill in the blanks

Very true on the first part, but I'll keep telling you this, every time, SWL will be worthy of the name we've heard it from all our insiders, you're valid points get lost when you add a bunch of unnecessary hyperbole

 

[ford91exploder]

Very true on the first part, but I'll keep telling you this, every time, SWL will be worthy of the name we've heard it from all our insiders, you're valid points get lost when you add a bunch of unnecessary hyperbole

Personally I think SWL is going to be a disappointment to many and thats based on the underwhelming offerings coming out of Disney lately.

Just take a look at the cheapness of the YC soft/hard goods refurb. Thats a mindset not a design choice.

Yes I've heard of the effort that went into DS but that was tenant money.

Disney in the parks and resorts B/U is doing just enough to get by.

Quality excites me and quality is something Disney has not done for a long time all their recent efforts have gone into cheapening their products and services.

As to Disney corporate failing, ive watched a lot of companies fail and Disney corporate is treading a well worn path to oblivion. The Iger sucession problem is just the most prominent indicator.

Cisco is just now beginning to recover from it's 'Chambers Problem' where a similar situation existed

Thought Question If Iger were incapacitated today who would take over his duties (no Zenia jokes pls)???

Ike Perlmutter who drove Marvel to near bankruptcy?

Kathleen Kennedy - a competent film exec but no experience outside film

John Lasseter - who has no real interest in the operations side of the business

Mikey C/Georgie K/Chappie ???

Disney has severe issues as a business which Iger has been papering over with share repurchases. Especially their late entry into the digital world for which they show no sign of developing a clue as to how to sell their products in an on demand world.

Will the parks close of course not they are a great business and someone (not Disney) will bring them back to their former preeminent state.

 

[Kman101]

I get where you're coming from FORD, I really really do. I agree those in charge often lack an understanding of theme parks. I fully call them out when they're cheap, when they act like they're going out of business (they all of a sudden "can't afford" a pavilion without a sponsor, or can't afford to run Great Movie Ride? PLEASE ....) but I fully believe SWL will be quality. DS is quality. AK's additions and expansions are of quality. Sometimes they do get it and they show they get it in other parks. So normally I'd agree with you, actually, but this time I truly believe they'll do SWL justice. Look at the effort at Disneyland to make it work there. I think they know they have to knock this one out of the park. So that's why I defend it and think it will be great. But we'll see come 2019.

 

[JediMasterMatt]

Personally I think SWL is going to be a disappointment to many and thats based on the underwhelming offerings coming out of Disney lately.

While I'm firmly in the "boat is still taking on water" mindset of the state of WDW (even if there is a flurry of new activity in the swamps), I want to be perfectly clear about one thing - SWL will not let the masses down. While there will always be those that fail to be impressed by anything, the goals to which SWL is striving are set way too high to not impress. The land itself is an E-ticket on a level beyond what Diagon Alley achieved. The level of immersion will be unlike anything ever seen in a theme park. Going beyond that, the Falcon will delight and offer up to the most casual fan an incredibly seamless take on what it would be like to step aboard one of the most iconic space ships in pop culture history and take her for a spin. Then there is the big mama jamma - the soon to be named Battle/Escape/First Order/Resistance/Alcatraz. This is where I can't imagine anyone being disappointed. It has everything you'd want in a modern spin on a Disney attraction. We can always lament the loss of the cute beast of burden transport, the placement of the land within Disneyland, or just more IP in general... the discussions about the quality that will shine through when it opens should be minimal at worst.

Now, going back to the state of things in WDW. I just spent my second week in 2017 on property and the place is still run like that kid of yours that you know can get straight A's and continues to bring home D's and C's and then wants all sins forgiven for getting another couple A's(Pandora and Happily Ever After). When you take a look at WDW closely, you see where they continue to struggle in comparison to what you know they can achieve. I KNOW WDW can do better. It's just that they choose not to and that's my fear for SWL. They are being handed an A+ in SWL and yet those in power kicked and screamed like children dragging their feet over the 3rd attraction and the costs. My fear is that once SWL opens the TDO mentality will kick in and we will see some of the immersion get dropped. Those CM's in character in the streets - too expensive to staff. Those droids and aliens wandering around - too expensive to maintain. The only silver lining is that Burbank at least forced the Land, Big Bird, and Alcatraz on them, so even if WDW decides that "those costumes are too hot for Orlando" or "those droids were too unreliable in the Florida weather", we will still be left with a great looking land with two great attractions.

 

[brb1006]

Maui made his Disney Park debut at Shanghai Disney recently.

 

[ford91exploder]

While I'm firmly in the "boat is still taking on water" mindset of the state of WDW (even if there is a flurry of new activity in the swamps), I want to be perfectly clear about one thing - SWL will not let the masses down. While there will always be those that fail to be impressed by anything, the goals to which SWL is striving are set way too high to not impress. The land itself is an E-ticket on a level beyond what Diagon Alley achieved. The level of immersion will be unlike anything ever seen in a theme park. Going beyond that, the Falcon will delight and offer up to the most casual fan an incredibly seamless take on what it would be like to step aboard one of the most iconic space ships in pop culture history and take her for a spin. Then there is the big mama jamma - the soon to be named Battle/Escape/First Order/Resistance/Alcatraz. This is where I can't imagine anyone being disappointed. It has everything you'd want in a modern spin on a Disney attraction. We can always lament the loss of the cute beast of burden transport, the placement of the land within Disneyland, or just more IP in general... the discussions about the quality that will shine through when it opens should be minimal at worst.

Now, going back to the state of things in WDW. I just spent my second week in 2017 on property and the place is still run like that kid of yours that you know can get straight A's and continues to bring home D's and C's and then wants all sins forgiven for getting another couple A's(Pandora and Happily Ever After). When you take a look at WDW closely, you see where they continue to struggle in comparison to what you know they can achieve. I KNOW WDW can do better. It's just that they choose not to and that's my fear for SWL. They are being handed an A+ in SWL and yet those in power kicked and screamed like children dragging their feet over the 3rd attraction and the costs. My fear is that once SWL opens the TDO mentality will kick in and we will see some of the immersion get dropped. Those CM's in character in the streets - too expensive to staff. Those droids and aliens wandering around - too expensive to maintain. The only silver lining is that Burbank at least forced the Land, Big Bird, and Alcatraz on them, so even if WDW decides that "those costumes are too hot for Orlando" or "those droids were too unreliable in the Florida weather", we will still be left with a great looking land with two great attractions.

This is what I fear as well, SWL was ALREADY chopped back by TDO from 3 attractions to TWO, Where in reality a range of A to E attractions with a count of 6-8 was what was NEEDED for SWL.

As to greatness of attraction I'm afraid of the 7DMT effect 'is that all there is'. 7DMT if it had been built as pitched by WDI would have been an E-ticket for the ages, Instead its a nice C-D ticket kiddie coaster.

IF you had 5 A to C ticket attractions/shows a D ticket and a couple of E-tickets. You would have a land which first could HANDLE the crowds and second would be good for 2-3 days of exploration on their own (Like HPL down I-4)

The streetmosphere I give 6 months MAX at WDW, And all this if it even opens close to it's DL cousin, Some have tried to place words in my mouth saying SWL would never open, Bzzzt Wrong, I've said Wall St would never allow Disney to open TWO at the same time because they want to see how 'successful' the DL version is first and even I know success is virtually guaranteed with any SW property like this but as Wall St hates anything which requires capital expenditure these days...

Now I had said that Pandora may never open and IF Iger had left on schedule it probably would have opened as something other than Pandora. So people may have confused/conflated the statements