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

[Brer Oswald]

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

Depends on the job. I worked two minimum wage jobs last year. A small percentage was taken off each pay. Not a huge one. Ended up getting it all back this year.

The better the pay, the higher the tax, the less you get back.

 

[ImperfectPixie]

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.

That sounds like equal to or even a little less than in the US.

 

[tirian]

As a shareholder, I’m more concerned than I already was. It’s one thing to be unhappy with creative decisions; it’s another thing to realize the company’s business side has been mismanaged. There was no backup plan, just spend, spend, spend. Of course nobody could predict this year’s events, but anyone who passed Biz 101 would know you can’t spend forever and chalk it all up to “IP investments.” Iger was more foolish than I thought.



“Earnings are expected to be awful, with virtually every part of Disney severely impacted by the COVID-19 pandemic except for Disney+/Hulu, which have been notable beneficiaries,” LightShed Partners analysts led by Richard Greenfield wrote in a note Tuesday morning. “What will be far more important to investors is how management discusses their plans to deal with the unprecedented challenges facing Disney over the coming year(s).”

Disney earnings: Disney 3Q adjusted EPS top expectations, even as pandemic slams theme parks

Disney (DIS) is set to deliver its fiscal third-quarter report after market close on Tuesday. The results are expected to be ugly, after the coronavirus pandemic hit the company in its most lucrative theme parks, media networks and studio film businesses.

finance.yahoo.com

 

[AEfx]

That sounds like equal to or even a little less than in the US.

And they get a hell of a more lot for it than we do. If you want a fair comparison, add what we pay income taxes to how much we (and our employer) pay for health insurance, and then compare it to what they pay for taxes.

 

[BurnyMcBurnerface]

As a shareholder, I’m more concerned than I already was.

Then sell it.

but anyone who passed Biz 101 would know you can sell your shares whenever you want.

FIFY

 

[el_super]

As a shareholder, I’m more concerned than I already was. It’s one thing to be unhappy with creative decisions; it’s another thing to realize the company’s business side has been mismanaged. There was no backup plan, just spend, spend, spend.

What exactly would you be looking for in a backup plan? Decisions made that make the Walt Disney Company overall less reliant on theme parks for income, such as buying Pixar, Marvel, FOX or building out Disney+, are usually the kind of decisions derided by parks fans.

It is beyond absurdist to try to pin the current failings on Iger's leadership. Unless you have some evidence he created the virus in his basement, that is.

 

[BurnyMcBurnerface]

It is beyond absurdist to try to pin the current failings on Iger's leadership.

Nah, Iger pulled the trigger on the Fox purchase which left them exposed to the cash crunch.

What is absurdist is holding onto Disney shares so you can go handwring on an Internet forum with "as a shareholder" riffs. If you're still in DIS, you probably fell for the wallet inspector too.

 

[Miss Bella]

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.

26 is about 35 . Your 27 in cad is about 20 here.

 

[Model3 McQueen]

What exactly would you be looking for in a backup plan? Decisions made that make the Walt Disney Company overall less reliant on theme parks for income, such as buying Pixar, Marvel, FOX or building out Disney+, are usually the kind of decisions derided by parks fans.

It is beyond absurdist to try to pin the current failings on Iger's leadership. Unless you have some evidence he created the virus in his basement, that is.

Park fans are derided rightfully so, because IP finds its way into the parks and has successfully pushed out anything even remotely original.

 

[WDW Pro]

WDWPro believes it was made by scientists in a bunker below the TRON coaster at SDL and spread within the Treasure Cove fish market.

I heard him say it, immediately after writing Frozen 2 was authored by the CCP.

 

[tirian]

Then sell it.

And I shall.

They date back to options, btw. It’s not as if anyone is holding onto them to wring their hands.

 

[Brer Oswald]

What exactly would you be looking for in a backup plan? Decisions made that make the Walt Disney Company overall less reliant on theme parks for income, such as buying Pixar, Marvel, FOX or building out Disney+, are usually the kind of decisions derided by parks fans.

It is beyond absurdist to try to pin the current failings on Iger's leadership. Unless you have some evidence he created the virus in his basement, that is.

Fox acquisition. Years of undercutting frontline employees to bolster his own bonus and “legacy”. Proposing a rushed opening of the parks instead of Chapek’s staggered opening. The failings shouldn’t solely be put on him, but there are definitely some miscalculations on his part.

 

[J4546]

i think buying fox was a smart move long term. it was expensive, but they got a lot for the money

 

[mkt]

Going to rearrange this post.

As an employer, how many of these is Disney known for?

Let's see.

Wages that cover basic living expenses.

Nope.

After that, there’s also flexible scheduling

Disney would be firmly average on this.

benefits

Yes

empowerment...

YES!

...to make decisions

Oh, no. No no.

resources needed for personal safety

Used to be good at this, now it's mostly safety theatre.

and general encouragement.

HELL NO.

 

[Brer Oswald]

i think buying fox was a smart move long term. it was expensive, but they got a lot for the money

The only thing I can think of from FOX that is remotely as marketable as Marvel, Star Wars And Pixar is the Simpsons. But the Simpsons doesn’t 100% Fit their brand image and theme park rights are tied up with Uni.

Disney’s current strategy is “characters” and “franchises”. The returns from FOX will be slow until they start changing up their strategy.

 

[lazyboy97o]

i think buying fox was a smart move long term. it was expensive, but they got a lot for the money

Or Iger could have not shut down Disney's other labels and would have had a decade of content.

 

[TrainsOfDisney]

The only thing I can think of from FOX that is remotely as marketable as Marvel, Star Wars And Pixar is the Simpsons. But the Simpsons doesn’t 100% Fit their brand image and theme park rights are tied up with Uni.

Disney’s current strategy is “characters” and “franchises”. The returns from FOX will be slow until they start changing up their strategy.

Disney has the data obviously... I wonder how the viewing is for simpsons on Disney+.

I also think it’s a bad idea to mix in films like Ice Age into Disney+ branding wise.

The Disney company has spent decades making their films valuable by “keeping them in the vault” - and now its like they have dumped everything into the bargain bin that is Disney+.

 

[Disstevefan1]

As a shareholder, I’m more concerned than I already was. It’s one thing to be unhappy with creative decisions; it’s another thing to realize the company’s business side has been mismanaged. There was no backup plan, just spend, spend, spend. Of course nobody could predict this year’s events, but anyone who passed Biz 101 would know you can’t spend forever and chalk it all up to “IP investments.” Iger was more foolish than I thought.



“Earnings are expected to be awful, with virtually every part of Disney severely impacted by the COVID-19 pandemic except for Disney+/Hulu, which have been notable beneficiaries,” LightShed Partners analysts led by Richard Greenfield wrote in a note Tuesday morning. “What will be far more important to investors is how management discusses their plans to deal with the unprecedented challenges facing Disney over the coming year(s).”

Disney earnings: Disney 3Q adjusted EPS top expectations, even as pandemic slams theme parks

Disney (DIS) is set to deliver its fiscal third-quarter report after market close on Tuesday. The results are expected to be ugly, after the coronavirus pandemic hit the company in its most lucrative theme parks, media networks and studio film businesses.

finance.yahoo.com

Its so easy to criticize TWDC after the fact. Before the virus, TWDC was making money hand over fist. I was at EPCOT F&W in November (who knows the virus was already in the US) and it was so MOBBED I could not get near a food booth to buy my $7 sample.

In the past I was critical about WDW raising prices on everything, but folks (including me) still showed up and spent our cash.

If before the virus, if Iger went into a stockholders meeting and announced, “We are not going to grow our business, instead we are going to stock pile all our cash in case we are hit by a 100 year event like, I don’t know, the Spanish flu.”

He would have been laughed out of the place.....

 

[JenniferS]

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.

Let’s be fair though - the cost of living in Canada is huge. I work for a Builder in the GTA, and sell new townhomes in the $700-$800K range, with detached well over a mill.

I live in a modest 44 year old semi detached home, an hour west of TO, valued at just under $500K.

I have 24 and 25 year old sons still at home because rent is $1500-$1800/month plus utilities.

Wages in Canada NEED to be higher.

 

[Model3 McQueen]

Me patiently waiting for the sequel thread like..