CaptainAmerica
Premium Member
I didn't say they were surprises, I just said they weren't softballs. The fact that he was prepared for them speaks well of him.
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News Bob Iger is back! Chapek is out!!
- Thread starter Disney4family
- Start date
All im saying is that those questions you pretty much knew were going to be asked in some way shape or form…
CaptainMickey
Well-Known Member
I agree with you they will use Reedy Creek as a bargaining chip for Lake Nona jobs move.
The cat might be out of the bag though. Reedy Creek Improvement District was set up for Disney to build an "Experimental Community of Tomorrow". A real city. Disney never did that. As soon as they built Celebration, they de-annexed it so no one outside the company can live in the district. Same with Golden Oaks. I can see where Universal says we are investing heavily in Orlando and we don't get any special district?
From what I understand about Orange and Osceola County absorbing Reedy Creek it would be minimal to taxpayers. The counties would inherit the bond debt but would also inherit all the assets, Fire stations, etc. Including the parking garages at Disney Springs. Those counties are massively larger then Reedy Creek and growing at an extraordinary pace. They are also in the business of running county services and are very good at it. Universal doesn't get county services for free and neither does Disney. Disney just has much more control over how their mini county is run and what it spends money on. The state and counties can change tax laws. It will be interesting to see how it all plays out.
The cat might be out of the bag though. Reedy Creek Improvement District was set up for Disney to build an "Experimental Community of Tomorrow". A real city. Disney never did that. As soon as they built Celebration, they de-annexed it so no one outside the company can live in the district. Same with Golden Oaks. I can see where Universal says we are investing heavily in Orlando and we don't get any special district?
From what I understand about Orange and Osceola County absorbing Reedy Creek it would be minimal to taxpayers. The counties would inherit the bond debt but would also inherit all the assets, Fire stations, etc. Including the parking garages at Disney Springs. Those counties are massively larger then Reedy Creek and growing at an extraordinary pace. They are also in the business of running county services and are very good at it. Universal doesn't get county services for free and neither does Disney. Disney just has much more control over how their mini county is run and what it spends money on. The state and counties can change tax laws. It will be interesting to see how it all plays out.
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lazyboy97o
Well-Known Member
The enabling legislation and state Supreme Court decision both focus on developing tourism, not a city.
Reedy Creek Improvement District imposes an additional level of taxation that the state and counties cannot just make up because the District has the authority to charge at higher rates. Disney already pays their taxes to the state and counties, there is no mechanism to get the money they pay the District.
CaptainAmerica
Premium Member
"Local taxpayers" means Disney. The local government entities, whether it's Orange County or some new municipality or whatever they go with, would pick up the debt but also gain the new revenue stream. Whatever checks Disney would have cut to RCID to finance the debt would just go to some other entity. Nobody would be any worse off, it's just changing some letterhead.
Elijah Abrams
Well-Known Member
- In the Parks
- Yes
I still think Iger should sell 20th Century Studios, because Disney has inherited debt and they have been swamped with box office bombs recently, like Strange World.
lazyboy97o
Well-Known Member
No, Disney pays additional taxes to the District that the counties do not have the power to levy. The counties already get what Disney would pay them.
CaptainAmerica
Premium Member
Then why wouldn't Disney be dancing in the streets about this?
(I'm not talking about some automatic trigger, I'm talking about new legislation that would make the counties whole.)
lazyboy97o
Well-Known Member
Because they lose their control. If they wanted to just pay less they could have done that on their own.
New legislation can’t amend the state constitution.
Casper Gutman
Well-Known Member
As I understand it, the fantasy of recouping the lost money from Disney rests on them being taxed massively more then everyone else in the county. Needless to say, imposing unequal taxes on one individual entity is tremendously unconstitutional, which still matters. The lost funds would have to be spread out equally among the residents of the county, which would mean great big tax increases across the board.
CaptainMickey
Well-Known Member
Maybe Orange County will start charging Guest to park at their newly inherited beautiful parking garages at Disney Springs. Or maybe raise the rates it charges Disney from it's Mickey shaped solar farm.
Sir_Cliff
Well-Known Member
Completely agree.
Again, I get why people have no love for him based on how he ran the company, but it is nice having someone who can at least talk in a natural and thoughtful manner in that position again.
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MerlinTheGoat
Well-Known Member
I do not care whatsoever about Bob 1's ability to "eloquently" spout evasive nonsense. I can see people who have a financial stake in the company appreciating fewer doltish comments that Bob 2 became known for, so I guess you have to take whatever meager solace you can if that describes your situation. Doesn't look like it has been all that helpful for the stock price though anyway.
The only thing that matters is what Iger does to correct course. And based on what he said about the parks at least (or rather, wasted a lot of words NOT saying), my guess is nothing. So all the pretty nothing comments in the world are only going to accomplish two things for the parks. Jack and **** (and Jack left O-town).
At least it seems that the truth about Iger's return may be starting to sink in. When this news first broke, there was a lot of celebratory "yay, Iger is back to fix the parks, scrap Genie, remove reservations, and cut prices" comments. It took a bit more than a week, but I think people are coming to terms with the fact that such hopes are a fantasy (the kind even Disney won't make come true). Now the goalposts have been moved to praising the "graceful" way Iger dodges questions.
By the end of the year, perhaps most people will have fully looped back around to 2018 again and realize Iger is bad for the parks and wasn't a trade-up from Chapek. Maybe the reactions to the Genie+ prices for Christmas and New Years weeks will be what does it.
Don't take it personally though, once again I still want NOTHING more than for Iger to prove me wrong and fix the parks. But that would take far more than a miracle.
The only thing that matters is what Iger does to correct course. And based on what he said about the parks at least (or rather, wasted a lot of words NOT saying), my guess is nothing. So all the pretty nothing comments in the world are only going to accomplish two things for the parks. Jack and **** (and Jack left O-town).
At least it seems that the truth about Iger's return may be starting to sink in. When this news first broke, there was a lot of celebratory "yay, Iger is back to fix the parks, scrap Genie, remove reservations, and cut prices" comments. It took a bit more than a week, but I think people are coming to terms with the fact that such hopes are a fantasy (the kind even Disney won't make come true). Now the goalposts have been moved to praising the "graceful" way Iger dodges questions.
By the end of the year, perhaps most people will have fully looped back around to 2018 again and realize Iger is bad for the parks and wasn't a trade-up from Chapek. Maybe the reactions to the Genie+ prices for Christmas and New Years weeks will be what does it.
Don't take it personally though, once again I still want NOTHING more than for Iger to prove me wrong and fix the parks. But that would take far more than a miracle.
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ToTBellHop
Well-Known Member
I’ve been very impressed at the changes I’ve seen so far. He became CEO and just 4 days later, Thanksgiving came. That would not have happened under Chapek.
Well, then I'm excited to tell you about Christmas!
Sirwalterraleigh
Premium Member
…after 28 years and close to 20 as “head weasel”…I expect him to be able to talk.
So how’s that successor search going? It’s Been 10 days and those “2 years” are gonna come up fast
Rickcat96
Well-Known Member
If investors are also concerned at the decline of the parks, with discounts running through spring, I guess raising prices on December 8 kinda negates any discounts offered as of now- If they Truley were busy, why would they discount?
Disney needs money, don't expect them to rid Genie+ or parking fees, the hole they dug is so deep, they cant afford not to have them.
Disney needs money, don't expect them to rid Genie+ or parking fees, the hole they dug is so deep, they cant afford not to have them.
Tha Realest
Well-Known Member
He couldn't help himself.…after 28 years and close to 20 as “head weasel”…I expect him to be able to talk.
So how’s that successor search going? It’s Been 10 days and those “2 years” are gonna come up fast
[Unpopular decision gets posed] = "That's [prospective replacement/successor's] issue, I'll talk to him about it. It's up to him." It's in his DNA. He tosses off responsibility like many of us reflexively breathe.
Tha Realest
Well-Known Member
Even if it wasn't a massive expenditure which they have to recoup - which they do - it's such a large new revenue stream that it would be difficult to make up that shortfall elsewhere.