A Spirited Valentine ...

[GoofGoof]

Prioritizing the guest experience over revenue!, Didn't there used to be a company founded by an old dead guy named Walt, That used to do the same thing...

Don't get too carried away. I've had Comcast as my cable operator for years. There is no more evil corporation in America that is more focused on profits and less focused on customer satisfaction. Fortunately the corporate overlords in Philly seem to allow the Uni theme parks to run somewhat independently. For all of our sakes let's hope they never put someone from the cable side of the business in charge of theme parks.

NFL has become the worlds largest stroller parking lot

And that's different from the classic fantasyland how?

 

[GoofGoof]

I agree with maximizing existing parks before adding a fifth gate. At this point there really is no reason DHS isn't larger and adding to an already well-received rides roster. It was left to rot like a carcass in the sun. It's gone way too long between adding lands and attractions and it shows. Epcot shouldn't be in such condition that it needs to rely on overcharging customers on specialty food and beverages year round. There's no reason that a brand new cartoon got shoehorned into a 25 year old ride system. For that matter there shouldn't be 20 year old films sans nostalgia - they should have been kept current and more up to date... Epcot has been let fall into an almost museum like quality with plenty of gift shops and pricey nibbles of "gourmet" food.

I really quoted this for your last line as I wholeheartedly agree and tip my Pirates hat to you. I think it's a twofold problem of running out of things to do besides spend money or being tired of cooking in the heat at Epcot. There's a real climate issue evident there- it really needs more shade and seating. A bus ride from DHS to the MK does wonders when it's 90 degrees out with 100% humidity. As does so many indoor attractions and stores ($$$$$$$) there.

If you circle back to @ParentsOf4 post if the company had been spending at historic levels on capital projects over the last decade at WDW the other 3 gates would already have been filled out a lot more and we would be ready for that 5th gate and a bunch of new hotels to hold all of the additional guests.

 

[VJ]

Sorry if previously addressed....but are Themeparkinsider getting backhands off Universal? Their latest awards are a joke...Krakatau winning best rollercoaster?? Volcano Bay best new theme park?? (Obviously didn't cross reference that one with tripadvisor, where it's still getting torn a new one)

I do enjoy reading it but this is all very suspicious.

It's not possible to be a Universal shill because everything they do is the best thing ever. Just a Disney shill who's undoubtedly Tweeting from their cozy cubicle in Celebration Place.

(yes, I'm being sarcastic)

 

[ford91exploder]

Don't get too carried away. I've had Comcast as my cable operator for years. There is no more evil corporation in America that is more focused on profits and less focused on customer satisfaction. Fortunately the corporate overlords in Philly seem to allow the Uni theme parks to run somewhat independently. For all of our sakes let's hope they never put someone from the cable side of the business in charge of theme parks.

And that's different from the classic fantasyland how?

I went to Satellite TV when comcast bought our local cable provider. Also remember that Spirit notes that UNI succeeds in SPITE of managements wishes over at Comcasr

 

[EricsBiscuit]

I'm in Norway rn for my Akershus reservation and saw some cool Vikings doing meet and greets. Never seen that before! One more thing, those guys are SO TALL!!

 

[The_Jobu]

Their latest awards are a joke...Krakatau winning best rollercoaster?? Volcano Bay best new theme park??

I enjoy Universal almost as much as Disney, but that does seem a little hinky....

 

[Cesar R M]

When Disney built it up the way they did they weren't exactly pushing it as a man made restoration zone on Pandora. I guess that's my own fault for thinking it would feel anything like the bioluminescent forest in the movie outside of the short boat ride.

Not to mention they hyped these specific aspects in their previews too.

 

[Cesar R M]

Nostalgia exists for sure. I was talking about the rides and lands built post Harry Potter. Nobody is going to stop liking HM or Pirates now but anytime something new gets built and it's based on an IP it's going to be compared to Potter.

People sure hated when they were in heavy disrepair. Once they were fixed.. it was good, very good.
(particularly splash mountain)

 

[ford91exploder]

Regarding buybacks...

I think you're oversimplifying things when it comes to the worthiness of buybacks in general. I've read what you referenced, but that is a separate issue. Companies answer to shareholders, not the US Economy. Buybacks are an effective way to return cash to shareholders without imposing a tax burden on them such as through a dividend.

Buybacks aren't always a lose lose scenario. They make sense at one price and don't at another. Perhaps Disney approved too much and the money could have been used for capex. I do agree the lack of capex spending has been ridiculous, but it was just not spent domestically.

As an AAPL shareholder, I love the buyback (biggest in history) because it makes my shares more valuable over time and every time shares are retired, the next round has a greater impact due to the lower share count. Disney trades near all time highs, so its tough to argue shares were repurchased at overvalued levels and DIS stock has outperformed the broader market by 4X the last 10 years. It's been one of the best Dow stocks to own, period.

The sickening part isn't the buybacks and the way Iger runs the company. He's objectively been great for shareholders but TERRIBLE for people like us. He's done his job very well and that's why hes still there.

I think your real issue is that the company is publicly traded and shareholders drive decision making. It sucks for fans, but it's reality.

I actually hope AAPL buys Disney and lets them get a little crazy.

Read the book 'Profits without Prosperity' if you want examples of why stock buyback programs are good for executives but bad for the economy as a whole

 

[ford91exploder]

I only imagine Ford's timeline if something goes really wrong.
Like another sharp downturn of economy by a banking crisis or employee crisis.

My timeline is based on this based on current trend lines for subscriber loss ESPN goes negative sometime in 2019-2020 which is going to have it's own effects on DIS stock.

Right now according to @ParentsOf4 Disney is spending about half of its free cash flow on its buyback program. What happens when there is no more profit from ESPN and rightsholders need their monthly check and the buybacks need funding?

Well kids it means that every 'non-essential' cash spend is immediately terminated and that means theme park and ship construction along with huge cuts in the theme parks. Because the two things that Iger will hold onto are the ESPN rights and the EPS inflation caused by the Buyback program

Disney's stock price is maintained largely because of its massive buyback program. While Disney's BRANDS are powerful Disney's business lets face it is lackluster in that top line growth barely outpaces the inflation rate. Now if Disney had kept that 55 billion in cash instead of blowing it on buybacks Disney would be in the catbird seat as they could weather ESPN becoming temporarily unproductive or using the cash to fund acquisition of a distribution network.

Instead Disney is sitting on a heap of treasury shares and 2-3 months worth of cash. The value of the treasury shares could be wiped out overnight should the market turn negative on media in general or Disney specifically

And that's where I get my opinion that there will be a years long delay in WDW SWL opening relative to DL SWL. The other question of course will there even BE a recognizable TWDC by that time. Yes the parks will be there but who will they be owned by then?

 

[Chef Mickey]

Read the book 'Profits without Prosperity' if you want examples of why stock buyback programs are good for executives but bad for the economy as a whole

I've read it. Read my post because you clearly didn't. I made it clear companies don't answer to the economy as a whole. They answer to shareholders. Buybacks can be good for shareholders at one price and not at another.

Read Warren Buffett's stance on buybacks. Since he's kind of successful, I'll go with his wisdom. Plus, it just makes sense mathematically.

 

[wannabeBelle]

https://www.fool.com/investing/gene...fett-the-only-time-share-buybacks-make-s.aspx I thought this was a really good article on this strategy. The problems I see specifically with DIS are the value calculation and not forgetting to invest in the product itself to keep the stock desirable. More resort rooms and of course investments in the parks is the way to insure continued cash flow from the consumer. Thoughts?? Marie

 

[ford91exploder]

https://www.fool.com/investing/gene...fett-the-only-time-share-buybacks-make-s.aspx I thought this was a really good article on this strategy. The problems I see specifically with DIS are the value calculation and not forgetting to invest in the product itself to keep the stock desirable. More resort rooms and of course investments in the parks is the way to insure continued cash flow from the consumer. Thoughts?? Marie

Stock repurchases are NOT inherently bad, However the way Disney is doing them violates BOTH of Warren Buffet's rules on stock repurchases and is more reminiscent of Netflix and Sears.

Right now WDW itself according to ParentsOf4 has a net investment deficit of 2.8 Billion over Iger's term, So just to break even Disney would need to spend 2.8 Billion for which Disney has the cash (if it was not being spent on stock buybacks..) before spending dime one on growth. So when Disney crows about spending 3.5 billion in the next decade. My thought is yup another decade of stagnation and margin squeezing while Disney attempts to fight a under-investment forest fire with a few paper cups full of water.

Right now Disney is putting the cart before the horse they are adding resort capacity while not increasing park capacity by any meanignful amount, Even AFTER TSL/SWL DHS will have a lower guest capacity per day than before the 'expansion'.

 

[The_Jobu]

Volcano Bay best new theme park??

Wait. I just read that again. It won best new THEME park? Wh-how???

That can't be right, I must be reading you wrong.

 

[PorterRedkey]

While we can argue Disney stock buybacks and other financial matters, but how about taking a peek at a new dark ride. A dark ride that has no IP, well-integrated scenes, separate ride experiences for each car (including a room unique to each RV) and an interactive component. Is this the latest ride at Disney Seas?

No, it is at Efteling in the Netherlands, which opened before Disneyland. The ride is Symbolica. Not only does it have an awesome preshow, the ride has a plethora of cool effects.

Check this link from Theme Park University for the pre-show and ride videos.
http://themeparkuniversity.com/theme-parks-101/2017-best-new-dark-ride-eftling-outside-holland/

 

[MinnieWaffles]

NFL has become the worlds largest stroller parking lot

Yes, that would be because Fantasyland appeals to the younger set. Amazingly, this means lots of toddlers around....shock horror!!

 

[Sonconato]

Saw this in WSJ. Sorry it's so wrinkled, but I cannot find it on the internet:

I'm not sure if someone has posted this.

 

[Andrew C]

Saw this in WSJ. Sorry it's so wrinkled, but I cannot find it on the internet:View attachment 213753 View attachment 213754
I'm not sure if someone has posted this.

Yep. Lemme know when they release a movie as good as Johnny Tsunami.

 

[MisterPenguin]

Judging by internet hits, they should run all day long, on all their channels, a Spider-Man and Elsa Variety Show.

 

[Bairstow]

Judging by internet hits, they should run all day long, on all their channels, a Spider-Man and Elsa Variety Show.

Who or what is even making these cartoons?
Aliens trying to emulate human art?
Is the result of an experiment to create an artificial intelligence that knows Flash?
There's like a thousand of these things uploaded every day and they all get millions of hits. It's baffling.