On layoffs, very bad attendance, and Iger's legacy being one of disgrace

[DisneyDebRob]

Well, that only took me three days to catch up on this whole thread. Guess I'm just in time to see the reactions to the earnings call?

Just in time. I believe it’s 4:30?

 

[larryz]

Just in time. I believe it’s 4:30?

It's 4:30 somewhere...

 

[DisneyDebRob]

I wonder if in the earnings call they keep secret the layoffs that happened this week. I wonder if they'll lie about if asked point blank about it.

Lie? They would never do that Mister.

 

[Sirwalterraleigh]

It's 4:30 somewhere...

About 400 nautical miles west of the azores?

 

[DisneyDebRob]

It's 4:30 somewhere...

My bad. I always assume everyone should be on east coast time like myself.

 

[Ojo4]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

 

[brianstl]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

The only big surprise that has a chance of happening today during the conference would be in any future guidance they give.

 

[Askimosita]

Disney’s Q3 FY20 Earnings Results Webcast - The Walt Disney Company

Listen here: https://thewaltdisneycompany.com/app/uploads/2020/07/q3-fy20-earnings.mp3 DOWNLOADS: Earnings Report Financial Reconciliations Audio Transcript Forward-Looking Statements: Management believes certain statements in this call may constitute “forward-looking statements” within the...

thewaltdisneycompany.com

Just in case you wanted the link

 

[Tom P.]

But haven’t well all benefitted from the growth of the stock market?

Only if that is organic growth that is backed by actual performance of the companies and is therefore sustainable over time. If it is all artificial card shuffling, propped up by the government printing money like there's no tomorrow, and destined to eventually come crashing down, then no.

 

[Sirwalterraleigh]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

I guess that would be dependent on one’s expectations??

 

[easyrowrdw]

Yes. And the best, most tangible way to show an employee that they are appreciated? Wages that cover basic living expenses.

After that, there’s also flexible scheduling, benefits, empowerment to make decisions, resources needed for personal safety, and general encouragement. As an employer, how many of these is Disney known for?

Yeah, this is like Herzberg's theory. The basics are needed, but only enough to keep people from being dissatisfied. If you want them to be satisfied, then you need the things you're talking about. I always thought that was interesting.

 

[tirian]

Those expecting the street to be surprised by anything in Disney's 10-K today are going to be extremely disappointed

People know it’s going to be bad. I think on these boards, we’re more interested to see the creative ways the company might report the news and cover itself.

 

[tirian]

I think there is zero chance we hear from Josh. Probably just Christine McCarthy, Chapek and maybe Iger (who will be addressing whatever good new is in the report if he is there).

D+ subscriptions and pretending their latest exclusive content is worth watching.

 

[disneyflush]

The fantastic news is WE ARE OPEN AGAIN!! We have made the necessary adjustments and expect to continue scaling up over Q4 in an aggressive, BUT SAFE, manner.

 

[Lilofan]

So how will they structure the earnings call presentation? Will Chapek speak at all? Will they make D’Amaro present the parks news?

CEO,CEO talk to Wall Street regarding all aspects of company. That's beyond Josh's level. It will be interesting what chiefs are left when the smoke clears.

 

[brb1006]

Disney’s Q3 FY20 Earnings Results Webcast - The Walt Disney Company

Listen here: https://thewaltdisneycompany.com/app/uploads/2020/07/q3-fy20-earnings.mp3 DOWNLOADS: Earnings Report Financial Reconciliations Audio Transcript Forward-Looking Statements: Management believes certain statements in this call may constitute “forward-looking statements” within the...

thewaltdisneycompany.com

Just in case you wanted the link

And it's own dedicated thread.

Disney's FY20 Q3 Earnings (8/4/20)

https://thewaltdisneycompany.com/disneys-q3-fy20-earnings-results-webcast/ The next earnings call will occur August 4th, 2020 at 4:30 p.m. EDT / 1:30 p.m. PDT. This should be very interesting.

forums.wdwmagic.com

 

[Jrb1979]

Yeah, this is like Herzberg's theory. The basics are needed, but only enough to keep people from being dissatisfied. If you want them to be satisfied, then you need the things you're talking about. I always thought that was interesting.

If only more businesses followed the Costco way things would be much better. They treat their employees well and pay them well too. Top wage at Costco in Canada is $27.65 plus $3500 bonus every 6 months.

 

[Lilofan]

If only more businesses followed the Costco way things would be much better. They treat their employees well and pay them well too. Top wage at Costco in Canada is $27.65 plus $3500 bonus every 6 months.

Isn't in Canada where it's a socialist system that a huge percentage of one's weekly paycheck goes to taxes?

 

[Lilofan]

Chapek -" labor is a huge component our our cost base. And so that will slide with the attendance."
Q2 earnings call with Wall Street

English translation - layoffs are coming

 

[Jrb1979]

Isn't in Canada where it's a socialist system that a huge percentage of one's weekly paycheck goes to taxes?

Not a huge percentage. About a 1/4 of your pay goes to taxes. The majority of Canadians get money back from income tax. It evens out in the end. The U.S. Costco top wage is $26. Its not that much less then ours.