Abigail Disney's Twitter thread on Executive pay and furloughing Cast Members during COVID-19

[Casper Gutman]

People believe that these big mega-corporations have a virtually unlimited pool of money that they can draw from and that they are just too greedy to share it. I sincerely believe that. People simply do not accept arguments that Disney "cannot afford" something as possibly being true.

What if Disney hadn’t spent billions on stock buybacks and had instead held those huge sums to invest in infrastructure, increase employee benefits, and/or serve as a reserve in the case of unforeseen events like a pandemic?

 

[Lilofan]

What if Disney hadn’t spent billions on stock buybacks and had instead held those huge sums to invest in infrastructure, increase employee benefits, and/or serve as a reserve in the case of unforeseen events like a pandemic?

Increase employee benefits like paying for colleges courses for cast to earn a degree even if the courses are not even related to one's role? Disney leads the way..

 

[MAGICFLOP]

What if Disney hadn’t spent billions on stock buybacks and had instead held those huge sums to invest in infrastructure, increase employee benefits, and/or serve as a reserve in the case of unforeseen events like a pandemic?

I wrote about this in another thread about Disney pricing and I said they should get what ever people were willing to pay for a ticket (raise prices as long as people still paid) and bank money for future events.. If Disney invested capital in stock buy back, then that was stupid and short sighted.. Disney had a market cap of about 270 Billion and its down to 180 billion now and the more of their own stock they own, the more they lost of that 90 Billion..

This pandemic hit Disney in a way I had not contemplated... they lost the resort industry as well as the movie industry, there only saving grace is streaming. My humble opinion is Disney has been taking a more destructive course in the last couple decades, the facades of the parks mask it but it is there, just look how they Bought and destroyed ABC and ESPN....

 

[larryz]

What if Disney hadn’t spent billions on stock buybacks and had instead held those huge sums to invest in infrastructure, increase employee benefits, and/or serve as a reserve in the case of unforeseen events like a pandemic?

Then Disney would probably be trading for 25-30% less pre-pandemic... and bonuses based on stock price would have been correspondingly lower.

 

[larryz]

This pandemic hit Disney in a way I had not contemplated... they lost the resort industry as well as the movie industry, there only saving grace is streaming. My humble opinion is Disney has been taking a more destructive course in the last couple decades, the facades of the parks mask it but it is there, just look how they Bought and destroyed ABC and ESPN....

One could say, based on who's in charge, that ABC and ESPN infected Disney with TV and cable network values, which ruined DISNEY from within.

 

[SpoiledBlueMilk]

Maybe I’m just ignorant of the facts, but how would giving up stock options help cast members or the company?

it wouldn't

 

[SpoiledBlueMilk]

Why do Americans brown noise corporations? Seems like even poor Americans all think they are going to be millionaires because of their stupid American Dream crap that the rich brainwash you with so you don't realise how badly your system works and you keep acting like turkeys voting for Thanksgiving.

The number of people who think Disney is being great, Bob's worth his outrageous pay and Abi Disney is the devil for speaking out is laughable. Oh and what's with the whole moralistic judgements on swearing? The US has some messed up sense of morals, don't swear it's so naughty but let's keep guns at home?!? Totally messed up country.

So should I ask the question? From which earthbound paradise are you writing your posts from?

 

[SpoiledBlueMilk]

I have no problem with the executives getting their bonuses, especially since most of that money is for work done prior to COVID-19 when Disney was leading across most of its sectors. Plus the more exposure I've had to the c-suite, the more of an appreciation I've developed to the level of risk and pressure that those roles have at the department or function head level. Their decisions carry significant weight and can make or break a company's market position. If they do a good job, then they should be rewarded at or above their bonus target. These people work long hours under extreme pressure. Plus, Disney's core responsibility is to its shareholders who do have a say on what the Board decides on compensation. Are these executives rich? Yes. Do I admonish them for it? No. As a shareholder, I want them to outperform.

 

[larryz]

I have no problem with the executives getting their bonuses, especially since most of that money is for work done prior to COVID-19 when Disney was leading across most of its sectors. Plus the more exposure I've had to the c-suite, the more of an appreciation I've developed to the level of risk and pressure that those roles have at the department or function head level. Their decisions carry significant weight and can make or break a company's market position. If they do a good job, then they should be rewarded at or above their bonus target. These people work long hours under extreme pressure. Plus, Disney's core responsibility is to its shareholders who do have a say on what the Board decides on compensation. Are these executives rich? Yes. Do I admonish them for it? No. As a shareholder, I want them to outperform.

Sure, if you bought in at $15.

But how would you feel if you bought in at $125?

 

[SpoiledBlueMilk]

Sure, if you bought in at $15.

But how would you feel if you bought in at $125?

I'd feel a lot better than the person who would buy in at $150. I wish I could take a time machine back and buy Disney, Google, Apple, Microsoft and Amazon at their lowest price. I bought Disney when it wasn't cheap, but I'm playing the long game. A low price just lets me buy more shares.

 

[eliza61nyc]

Sure, if you bought in at $15.

But how would you feel if you bought in at $125?

Aaah the joys of being in the stock market, get in at the right time and it's great, buy at the wrong time and it's heartbreaking

 

[larryz]

I'd feel a lot better than the person who would buy in at $150. I wish I could take a time machine back and buy Disney, Google, Apple, Microsoft and Amazon at their lowest price. I bought Disney when it wasn't cheap, but I'm playing the long game. A low price just lets me buy more shares.

Really? 'Cause you'd still be upside down $19 per share...

 

[MAGICFLOP]

One could say, based on who's in charge, that ABC and ESPN infected Disney with TV and cable network values, which ruined DISNEY from within.

Certainly a possibility, but I look at shows like America Funniest Videos and I see the Disney hand prints on it, looking at shows 20+ years past, I noticed that they shuffle the audience for uniformity (every time you see audience people have moved, you see 2 minorities sitting together, then next time you see the audience they are no longer sitting together) (I know I'm nuts to noticing this, but I am a people watcher and I always look at people in crowds)