MaryK said:
True, the sponsors would suffer the financial loss. But to say it's no problem? I beg to differ. Reputation goes a long way for a company, especially when it's trying to prove itself (in this case, while TWDC proved itself with Disneyland, it had not yet proved itself with WDW). Yes Disney has every right to bulldoze a project and start over if necessary, but it's not in its best interest to have a flippant "it's not MY problem" attitude...lest they risk losing those investors. Maybe that wouldn't happen now because TWDC is much bigger today than it was back then...but back then when it was as big as today, that kind of attitude could have hurt. A lot of business was based on personal relationships with people. Walt himself turned away from locations and potential investors because of something as simple as how he was treated.
Also I can't quite agree that DVC is the incarnation of EPCOT. DVC is simply a vacation timeshare. Not at all like living in a community. Celebration is really the closest they have to the original idea....because it's an actual community with a school, a hospital, shops, homes, etc. Though I do think Walt would be happy with DVC.
Well, you're looking at it from the "living" aspect and I'm looking at it from the financial aspect. Walt's first concern was always financial and he manipulated the company to serve his financial needs in every respect. By today's standards, Walt's business practices would be considered both unethical and illegal!
Walt was a brilliant showman and pitchman. He could sell an icebox to an Eskimo. Many people today still think of Walt as a kindly and benevolent show business person and movie producer. It was a public relations image that Walt purposely cultivated his entire life. The public only saw the "TV show" Walt. The fatherly figure that guided them through a week to week grand adventure on their TV screen. In reality, Walt was a very harsh and ruthless businessman.
Walt grew up poor and that fear of poverty stayed with him until his death. Trust me, I know! Early in Walt's career his cartoon character, Oswald the Lucky Rabbit, was stolen from him. Walt learned the lesson, "never give a sucker an even break". He lived the rest of his life by that motto.
I don't blame Walt for being the way he was, I think it only natural under his circumstances. However, I find it strange that people still hang onto the "public" image of Walt and refuse to acknowledge the ruthless businessman side of Walt (the real Walt Disney).
I used the DVC as an example because it represents a perfect part of Walt's various financial schemes. The DVC is selling a timeshare with no fee simple title! In other words, the buyers own no property and their timeshare becomes worthless at the end of its term. It's a brilliant idea and Walt would have loved it! It's as if the DVC is selling air. Please note that the DVC is a separate company from the Walt Disney Company. There's a very important reason for that. I'll let you figure out how it works. Otherwise, we get into the whole sordid DVC issue.
Walt would have done the same deal if he had lived to create EPCOT. He would have gotten outside investors and sponsors to put up the money. His company (RETLAW) or another company he would have created, would actually design and build EPCOT. Walt would not own any part of EPCOT except for the transportation system (monorail, wedway, etc.). However, if EPCOT went bust, the parent company (Walt Disney Productions) would still own the land and they could foreclose! Walt would make a fortune upfront and get to start the whole process again!
Also, as far as Walt and investors go, he never turned down money! He would have sold his soul to make a buck. Consider the 1964 World's Fair as an example. He all ready had three major projects in development and just 9 months before the opening of the fair, a representative from Pepsi Cola Co. calls up and speaks with a Disney staffer about creating a ride for the Pepsi and Unicef. The Disney staffer tells Pepsi that it's too late to work on a new ride.
When Walt heard this, he went through the roof! Disney called Pepsi back and agreed to create a ride for them. In nine months, "A Small World" was created for Pepsi at the 1964 Worlds Fair. It cost Pepsi a bundle and Walt laughed all the way to the bank! :wave: