Some more thoughts as tonight has proven to be quite busy in more important ways (apparently someone has been doing some surveillance on the Spirit and, no, nothing to do with either Disney or law enforcement ... just some more friends in high places!), but wanted to get some points out ... have no idea if anyone has mentioned them in the now 12 pages of posts I haven't been able to wade through.
WDW is doing very, very, very poorly. If you look at DCA's attendance bump (and only the last two weeks of June were in the quarter) and you look at the HUGE gain that having both the Dream and the Fantasy on the seas and you look at all the price increases, it doesn't take simple math to figure out that all parts of P&Rs that are keeping the engine turning still aren't covering enough for the fact WDW is not pulling its weight.
Period.
Did you see how much attention was given to TDR, a resort that TWDC doesn't own a single percent of?
And when Iger and Rasulo refused to do much talking looking ahead for the next quarter ... well, it was reminiscent of Facebook. They simply expect things to get much worse. Attendance domestically is waaaaay down ... all those Brazilians that you about? They're keeping WDW from falling into the abyss largely along with flat European visitation.
Iger was very careful to flat out not say a word about the 'new' unannounced investment coming to Florida and California, meaning either he is about to make a lot of folks in both places cry (and lose their jobs) as he concedes the theme park war to UNI ... or he sorta kinda flat out lied to the Street. ... Since, DL has one major attraction already approved and another almost there and since people in his own offices have pushed for a redo of TPFKaTD-MGMS and made changes behind the scenes to get it done, the best conclusion is ... yeah, he lied and it won;t really matter because he won't be around come 2015 or 2016 when the bills get larger. CapEx will go down in the next few years even with DL and WDW projects because so many other things are done or will be (stuff from Aulani to HK to DCA to DCL to even NEXT GEN, which some analysts are starting to privately push Iger and Rasulo and Staggs on) so Disney can still spend billions over the next 4-5 years and it will be less than the past 2-3 years of money invested back into the product.
What else? Oh yeah, my favorite little MK on Lantau notched its first operating profit. LET's GO CHINA!!! LET'S GO CHINA!!!
And how can one not see how having a film like The Avengers covers for a lot of other problems across the company (no one even remembers John Carter now!)
Also, quite entertaining to see Disney announce movie dates and NEW, NEW, NEW, But Not Really Fantasyland's partial opening date after the market closed because they're worried what tomorrow might do to the stock.
Anyway, apologies if this repeats what's been said ... but haven't had time to read/post (and I really want to on this thread!)