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Coronavirus and Walt Disney World general discussion
- Thread starter Parker in NYC
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- coronavirus covid covid-19
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MonorailCoral
Active Member
Walt's Gulfstream I and the Flight of the Navigator spaceship, please.
No? They paid for a month
I’m sorry who are you? And what does that have to do with the financial hardship they are creating for my family and I currently? Nowhere in my post did I say we weren’t grateful that they paid for a month... however am I under the belief that they could have done MUCH more for their employees? Yup! Did the execs just collect their billions of dollars in bonuses? Yup!
GoofGoof
Premium Member
Let it go. He’s just trolling you.
Thanks. You’re right
Brutally honest feedback whether one likes it or not. Everyone please make sure you have your mask on properly! I've always got mine on in public!
peter11435
Well-Known Member
Except first of all “they” did not create the financial hardship nor is it their fault. Also no execs collected “billions” in bonuses or anything even remotely close to that.
Is there an update to this that I don’t know about? https://www.google.com/amp/s/www.or...d-15-billion-executive-bonuses?media=AMP+HTML
And they are creating a financial hardship because of the change in hours I cannot work from my work from home job because there’s nobody to watch the kids. It also has caused him not to be able to work at his second job. So yeah they kind of did create financial hardship. We’ve had this exact same schedule for eight years now.
If you want to point fingers then write a letter to the Board of Directors. Execs in companies regarding pay and bonus payment structure is detailed to them with the Board of Directors playing a role in it. Disney paid their staff while at home for that month. I do not recall any other tourism companies doing the same. The ones who are in more difficult situations are workers not recalled back to work. Your family member is fortunate to be working.
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GoofGoof
Premium Member
The $1.5B she was referring to was the expected semi-annual dividend that would have been paid in July. Disney suspended the dividend payment to preserve cash on hand so it never happened. The annual bonuses for execs get paid after the fiscal year ends on 9/30. Some execs gave up some or all of their pay and may do the same for cash bonuses as well. The bigger piece of bonuses for the highest level execs comes from equity ownership so if the stock does OK they will still potentially make a good deal of money even if they agree not to take cash pay or bonuses.
Universal orlando paid the entire time- much beyond disney time. Columbia sportswear (not tourism) paid until employees went back to work. Lots of companies did it- but don’t get the publicity
peter11435
Well-Known Member
Universal paid at 80%. So you would have taken a pay cut right from the start.
peter11435
Well-Known Member
Dividend payments are not the same thing as executive bonuses and the dividend payment never happened anyway.
GoofGoof
Premium Member
This whole situation highlights how bad Twitter is for spreading mis-information. The original Tweet was from a woman who was quoting a Financial Times article which said “Disney stops paying 100,000 workers, roughly half its workforce, even as it protects executive bonus schemes and a $1.5 billion dividend payment due in July”. Abigail Disney misreads (its up to you to decide whether it was intentional or accidental) and Tweets out that they are paying executives $1.5B in bonuses. That was never the case and anyone who knows the situation with Covid could have told you that TWDC wouldn’t make the dividend payment. You don’t take on new temporary debt to cover costs and then pay a cash dividend. However, because her name is Disney and it’s a juicy story many different media organizations carried the story of her Tweet which was factually inaccurate. I know it’s off topic somewhat, but its just a pet peeve of mine when journalists get so lazy and just report on someone else’s Tweet instead of confirming the story independently. Then if the story turns out to be untrue you don’t need a retraction or apology because you didn’t report the story, just that someone else Tweeted the story. Lazy reporting.
Then when Universal employees were recalled that is when
UO promptly began their waves of layoffs. What do UO staff think of the kind gesture of pay now? I would be very surprised if Columbia sportswear stores survive until the end of 2020.
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Tom P.
Well-Known Member
It doesn't matter what facts are presented. People want to believe that Disney, and other very large companies, have unlimited resources that they choose to horde and pay out to executives out of nothing more than greed. It started, of course, with the debate over hourly wages before COVID-19 ever happened. Now it has transitioned to thinking that if Disney just really cared enough, they could keep all their people on staff at the same number of hours and pay as before, and anything other than that which causes hardship to people is their fault.
It's not true, of course. Disney lost billions in revenue in one quarter alone and has had to take on over $10 billion in new debt to survive through the pandemic. But that's the narrative. And I don't think you're going to change that.
It's not true, of course. Disney lost billions in revenue in one quarter alone and has had to take on over $10 billion in new debt to survive through the pandemic. But that's the narrative. And I don't think you're going to change that.
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