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Changes for Galaxy's Edge Temporarily On Hold

The cancellation of this meeting is directly due to the closure of parks in Asia, which is placing a hold on all potential future expansion expenditures for domestic parks until a more firm outlook in that region can be determined.
I’m sorry but why does one park being closed half way around the world affected another park, and does this mean that Mickey & Minnie's Runaway Railway is also going to have a delayed opening?
 

peter11435

Well-Known Member
I’m sorry but why does one park being closed half way around the world affected another park, and does this mean that Mickey & Minnie's Runaway Railway is also going to have a delayed opening?
It’s two parks and it has an economic impact to the company in excess of several hundred million dollars.

It will have no impact on Runaway Railway.
 

Lilofan

Well-Known Member
It’s two parks and it has an economic impact to the company in excess of several hundred million dollars.

It will have no impact on Runaway Railway.
Parks and Resorts are run by Bob Chapek. Rumored to be the next CEO he is well known for cutting costs and all in his division I believe are open game.
 
Parks and Resorts are run by Bob Chapek. Rumored to be the next CEO he is well known for cutting costs and all in his division I believe are open game.
Oh so since they’re making less of profit due to the park being closed they can’t spend as much on new attractions. I think I get it now thank you.
 

thecouch

Active Member
Does disney have insurance to cover the losses in China. I work for a government transport business in Australia and our insurance got so high we have switched to being self insured. It was cheaper to cover lawsuit and accidents then pay premiums. After this change the amount of paperwork increased well over 100%. They took paper work and audits very serious after the change. Rules and procedures for everything from ladders to adjusting chair heights
 

Rosso11

Well-Known Member
Now you've just opened up the wound of the old forum argument over whether self-insurance is real insurance.
Yes but companies that self insure, which I’m sure Disney does for certain things, they still have insurance for large catastrophes. For example I’m an owner of a company that has over 1,000 employees. We are self insured for any claim under 1 million. Over 1 million the insurance company kicks in. Plus something like this where the parks are closed for an extended period of time wouldn’t normally be self insured. That’s mainly for health insurance. So the argument if self insured is real wouldn’t even apply in this situation anyway. As we know from the Tokyo incident they definitely have this type of insurance. How big the insurance is would be my question.
 

MisterPenguin

Fully Pfizered!
Premium Member
Now you've just opened up the wound of the old forum argument over whether self-insurance is real insurance.
Yes but companies that self insure, which I’m sure Disney does for certain things, they still have insurance for large catastrophes. For example I’m an owner of a company that has over 1,000 employees. We are self insured for any claim under 1 million. Over 1 million the insurance company kicks in. Plus something like this where the parks are closed for an extended period of time wouldn’t normally be self insured. That’s mainly for health insurance. So the argument if self insured is real wouldn’t even apply in this situation anyway. As we know from the Tokyo incident they definitely have this type of insurance. How big the insurance is would be my question.

I am a prophet!
 

CastAStone

Well-Known Mumbler
Premium Member
They just told their shareholders on their last earnings call to expect $280 million less in profit just this quarter from the park closures. Are they insured? i don't know, but even if they are they're losing $280 Million Dollars!
 

Rosso11

Well-Known Member
They just told their shareholders on their last earnings call to expect $280 million less in profit just this quarter from the park closures. Are they insured? i don't know, but even if they are they're losing $280 Million Dollars!
Right and if it’s similar to Tokyo it will take close to a year to get the payment from the insurance and it will then be put back in at that time. How much though is anyone’s guess. Either way it’s not a good situation to be in.
 

kthomas105

Well-Known Member
An option to cut cost but keep all gates open....

Sounds like a few unexpected refurbs might be in the works.

I joke but if the Chinese parks stay closed for long there will be significant ripples across Disney parks.
 

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