News Disney World Cast Member unions to begin week of negotiations for wage increases, healthcare costs and more

[TheMaxRebo]

I think any wall streeter who has grey matter between their ears knew that Disney would wind up with a quick path to $18; not because they’re suddenly pro union, but because that’s just the market rate now and they would need to be paying that without a union.

So the stock, if anything, will like having some certainty.

Plus they are cutting expenses elsewhere including reducing 7,000 positions. I am sure in the aggregate their expense won't go up (might even come down as a percentage or revenue)

 

[mkt]

With all due respect, that’s for one person working in the household…I can count on one hand how many friends and neighbors have a one earner household.

With all due respect, that's not the point.

 

[Lilofan]

This is a question, is this from the a crazy increase from storms?? Since i retired I had been investing living by the beach (lol my dream when I hit powerball) and was floored with the rates and a few companies don't even issue coverage. WTH?

Rates rise because of FL contractor scams . Example - Roofing contractor ABC goes door to door explaining to homeowner that if free roof inspection yields damage from wind related events then with the help of contractor submit to insurance company then homeowner gets new roof. Multiply this scam by hundreds of homeowners getting new roofs.

 

[Smiley/OCD]

With all due respect, that's not the point.

Um, yes it is…the point being that a one payroll household in a middle income household is not very common.

 

[AshaNeOmah]

I can't wait until 2024 to hear how $23 an hour is povery wage and Disney should be ashamed of themselves for not paying more even after the union got what they wanted.

 

[Sirwalterraleigh]

Insurance rates have needed to go up because loss cota and loss ratios are through the roof. Replacement costs are way up as is labor to do the repairs (if you can find it). Plus legal issues with things like Assignment of Benefits make it even worse in Florida

I know people don't care about insurance companies, but they need to cover their costs and haven't been able to in Florida so are leaving the state or reducing how much they write and quickly getting off properties that don't have new roofs, etc.

They also allowed their insurance apparatus to be overtaken by hucksters and shiesters…

…or are we square dancing around that one?

 

[Sirwalterraleigh]

I can't wait until 2024 to hear how $23 an hour is povery wage and Disney should be ashamed of themselves for not paying more even after the union got what they wanted.

Way to go over the top.

Labor and wages are complex things…as is combating humanity’s #1 addiction…greed

 

[TheMaxRebo]

They also allowed their insurance apparatus to be overtaken by hucksters and shiesters…

…or are we square dancing around that one?

To some extent - lots of companies get set up with capital, are over reliant on reinsurance and then go out of business and restart with new capital a few years later

Also lots of laws working against things so even legit insurance companies struggle - there are a lot of challenges in the market

But inflation is playing a big role/challenge in the long term sustainably of the market

 

[AshaNeOmah]

Way to go over the top.

Labor and wages are complex things…as is combating humanity’s #1 addiction…greed

It is over the top, but there will never be a wage that stops that accusation. It's just the nature of the beast, but it gets very tiring every 3-5 years to hear how terrible the company is.

 

[CastAStone]

They also allowed their insurance apparatus to be overtaken by hucksters and shiesters…

…or are we square dancing around that one?

I pointed it out a couple pages ago. Everyone citing inflation and hurricanes is missing the Florida specific point.

 

[Sirwalterraleigh]

It is over the top, but there will never be a wage that stops that accusation. It's just the nature of the beast, but it gets very tiring every 3-5 years to hear how terrible the company is.

Terrible is harsh

Mismanaged and in need of new, legitimate management? You decide?

 

[Sirwalterraleigh]

To some extent - lots of companies get set up with capital, are over reliant on reinsurance and then go out of business and restart with new capital a few years later

Also lots of laws working against things so even legit insurance companies struggle - there are a lot of challenges in the market

But inflation is playing a big role/challenge in the long term sustainably of the market

You mean the greedy buddy system?

Yeah…we probably all agree.

But you know me…My English…”not so good”

 

[Sirwalterraleigh]

Except the Galactic Starcruiser that is sinking like the titanic of course

…that’s salvageable. Just use the KISS method…

I’m more talking about those that ask for less for more…
And can’t figure out that Disney uses their emotions against them. They’re talking to everyone “individually”

 

[Andrew C]

College program about to pick up.

 

[AshaNeOmah]

Terrible is harsh

Mismanaged and in need of new, legitimate management? You decide?

This is the same argument we've read with negotiation for at least a dozen years, if not 20.

The company does need new blood, but if you believe this is a symptom of that, then the problem has been the same since Save Disney.

And maybe it has...

 

[TheMaxRebo]

You mean the greedy buddy system?

Yeah…we probably all agree.

But you know me…My English…”not so good”

Of course - but acting like hurricanes and inflation and increased population at the coast doesn't play a role isn't fair either

But I only work in the reinsurance space and have to structure and cost for deals in Florida so what do I know

 

[Sirwalterraleigh]

Of course - but acting like hurricanes and inflation and increased population at the coast doesn't play a role isn't fair either

But I only work in the reinsurance space and have to structure and cost for deals in Florida so what do I know

Of course it does…but you can’t point out that overpopulation and catastrophic events are factors - which they are - if you don’t also acknowledge WHY THE WEATHER IS WRECKED and why Florida is about the worst place to handle it

And Florida tries to dance that line

 

[Vegas Disney Fan]

So basically $17 an hour, but the union can claim victory because they wanted $18 “this year” and they’ll get it in December, technically “this year”.

Edited to add, I was shocked to read the $15 an hour raise was in 2018, it feels like that just happened, 5 years goes so fast.

So a bump to $15 in 2018, a bump to $17 in Dec 2022, and then $1 a year for the next 5 years until they’re at $23 in Dec 2028… is that right?

 

[Sirwalterraleigh]

This is the same argument we've read with negotiation for at least a dozen years, if not 20.

The company does need new blood, but if you believe this is a symptom of that, then the problem has been the same since Save Disney.

And maybe it has...

I’ve got a theory…

Spoiler: Don’t look if you don’t want to know…

 

[Sirwalterraleigh]

So basically $17 an hour, but the union can claim victory because they wanted $18 “this year” and they’ll get it in December, technically “this year”.

Correct…

Which means Comcast will wait maybe a week or two and then throw theirs to $18. Really easy.

Disney - some Bob - made the DUMBEST move in history 3 years ago.
I’m sure it made sense to them. But sometimes the “right choice” ends up disastrously