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

Disstevefan1

Disstevefan1

Well-Known Member
Jrb1979 said:
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.
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Costco is a bad example, deemed an essential business, they were not forced to close and probably making MORE MONEY during the pandemic.
 
Brer Oswald

Brer Oswald

Well-Known Member
el_super said:
But that doesn't really address the question of how they could have protected their park business from this. If they had said they were just going to take the cash and sit on it, would that have been an acceptable answer? Even amidst the complaints that they don't invest enough in their parks?

I don't think the fan community is ready to adopt a position that money spent on the parks is a waste.
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That was never an argument I was trying to make. You simply questioned why the blame of low money was to fall on Iger. I said it was because of how much Fox costed them, and how little of that they’ve made back. If they want it to be a good investment, they’ll need to stop treating it like they did Marvel and Star Wars because a movie studio is much more than a character driven IP.

As for the Parks being a waste of money, I agree to an extent. Money spent on the parks should be used for three things:
1) Attractions and features at parks that need more attention
2) Added capacity for already popular parks
3) Maintenance to maintain the best and safest experience possible. The better the “show” the more likely people are to return/recommend, and the more money you make

Rebuilds, rethemes, teardowns, etc should be avoided unless absolutely necessary. If a ride isn’t attracting guests and has a higher operation cost than its worth, consider alternative options.

Same with landscaping. I don’t think it was smart money wise to completely dig up the middle of Epcot.
 
Tom P.

Tom P.

Well-Known Member
ImperfectPixie said:
That sounds like equal to or even a little less than in the US.
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The United States system of taxes is so convoluted as well that it's difficult to do an apples-to-apples comparison. Sure, someone with a low income and even many people with decent middle class incomes don't end up paying much in federal income tax, or even get refunds due to refundable tax credits. But you have to think about Medicare and Social Security withholding also at the federal level. And then you have to think about all the state and local taxes that vary so much from one place to the next. Property tax, sales tax, state income tax, city income tax, city fees, personal property tax, etc. In the end, it is incredibly difficult for someone to accurately know just how much they are paying in taxes. Which is, unfortunately, I think by design.
 
ImperfectPixie

ImperfectPixie

Well-Known Member
Tom P. said:
The United States system of taxes is so convoluted as well that it's difficult to do an apples-to-apples comparison. Sure, someone with a low income and even many people with decent middle class incomes don't end up paying much in federal income tax, or even get refunds due to refundable tax credits. But you have to think about Medicare and Social Security withholding also at the federal level. And then you have to think about all the state and local taxes that vary so much from one place to the next. Property tax, sales tax, state income tax, city income tax, city fees, personal property tax, etc. In the end, it is incredibly difficult for someone to accurately know just how much they are paying in taxes. Which is, unfortunately, I think by design.
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I was speaking simply in terms of what gets taken directly out of paychecks in MA. Federal taxes, state taxes, medicare, and social security. I was NOT counting health insurance.
 
bryanfze55

bryanfze55

Well-Known Member
ImperfectPixie said:
I was speaking simply in terms of what gets taken directly out of paychecks in MA. Federal taxes, state taxes, medicare, and social security. I was NOT counting health insurance.
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You also can’t totally just go based on what is taken out of a paycheck. It depends how much withholding one prefers to have; if a lot gets withhold, they may get a big refund. True tax burden has nothing to do with withholding or refunds.

The average middle class American household probably pays between 12-15% in federal tax and FICA combined. And I mean “median-income-American middle class”, not “WDWMagic middle class”. People who go to Disney 18 times a year probably skew high. This is based on W2 employment, not self-employment. States and localities will vary. Of course you also have property taxes, sales taxes and other misc taxes, but Canada and other Western nations have those as well.
 
B

brianstl

Well-Known Member
The Walt Disney Company today reported earnings for its third fiscal quarter ended June 27, 2020. Diluted earnings per share (EPS) from continuing operations for the quarter was a loss of $2.61 compared to income of $0.79 in the prior-year quarter
 
hopemax

hopemax

Well-Known Member
ParentsOf4 said:
Parks, Experiences and Products revenue was $983M, down 85%.

The segment lost $1.96 Billion.

"We estimate the total net adverse impact of COVID-19 on segment operating income in the quarter was approximately $3.5 billion."
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I feel like Disney got lucky when they decided to roll Consumer Products into P&R. But not for the reasons they originally intended. No reporting a 90%+ drop like Universal & Sea World, thanks to some CP buoys.
 
B

brianstl

Well-Known Member
pheneix said:
Read the report. Nothing illegal. All this stuff is totally above boards now.

If you include everything they marked off as an exclusion, this company lost close to $2 a share.
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It is complete legal, but it is just an accounting trick that they were able to do because of cost associated with buying Fox.
 

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