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

[Sirwalterraleigh]

Just a small segment of the population, but I work with a bunch of people who are Disney-obsessed. I did a quick query. Nobody, including myself, was even aware of the park reservation system. We couldn't care less, since the other reasons for not traveling right now are so overwhelming. These include, in order:

1) Not wanting to risk traveling to COVID-Central.

2) The post-trip 14 day quarantine requirement.

3) The above two reasons repeated ad infinitum.

...It’s amazing how many people can give the same story and still have it rejected outright.

 

[Sirwalterraleigh]

Park reservations for resort guests are available for every park from now until the end of the system in September 2021.

Hmmmm...might have something to do with the lack of resort guests?

I could post the DVC calendar...but that seems redundant.

 

[Jrb1979]

I don't know about the rest of you but I'm already taking advantage of the theme parks troubles. When Disney drops it's prices enough I will return to empty parks, the way I like it. I have already been to Universal and bought AP's with an extra 3 months added to them. AP hotel rooms have drop price wise going into the fall, I'm booked for at least one stay in November. Universal's high end hotels are cheap now, if the price goes down from here I just cancel, re-book at cheaper price.

Buy when blood is in the streets. Goes for just about anything.

I feel the same way. Just wish more people would support some of the other great amusement parks in the US that are open.

 

[Sirwalterraleigh]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

Thats owners trying to dump before the crash and buyers being enticed by near zero interest rates. It’s pretty widespread.

Banks...still serving as high level drug dealers in a commission system...oblige as usual.

Very little different from the housing bubble except it isn’t subprime focused.

 

[Sirwalterraleigh]

I don't know about the rest of you but I'm already taking advantage of the theme parks troubles. When Disney drops it's prices enough I will return to empty parks, the way I like it. I have already been to Universal and bought AP's with an extra 3 months added to them. AP hotel rooms have drop price wise going into the fall, I'm booked for at least one stay in November. Universal's high end hotels are cheap now, if the price goes down from here I just cancel, re-book at cheaper price.

Buy when blood is in the streets. Goes for just about anything.

Disney is actually guarding Against being “taken advantage of”...and I think that’s iger’s long game.

Low crowds are fine...but they NEED to feel the financial pain and have to take it on the nose during recessions. It’s an important market mechanism that has always served the consumer.

Let em bleed.

 

[John Kelly]

As a side note, I was wondering when those price increases were going to catch up with Disney - especially considering their irresponsible attitude of making everything IP / some form of advertisement and sacrificing quality. It was only a matter of time.

I fully agree.... they got so greedy and arrogant!

 

[Sirwalterraleigh]

No not at all. These people have money. From what I have seen many people who are retirement age/eligible are the ones fleeing.

My neighbor down the road owns a mortgage broker business and let me tell you the good ole' days of zero down aren't gone. They have been using a program that is supposed to help farmers, USDA loans. https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program

That's not what is going on right now. The buyers at least here are full on cash or finance only if they find it useful.

Well then that’s subprime...

And it’s the banks in a rush to score now...

And it won’t end well. Past is prologue

 

[UNCgolf]

Well then that’s subprime...

And it’s the banks in a rush to score now...

And it won’t end well. Past is prologue

I actually don't think it's related to any of that. People from the northeast have been moving near beaches in the south for many years now.

The golf course communities with housing in the Myrtle Beach area (not just Myrtle Beach, they're up the NC coastline as well) are filled with people from New York and New Jersey (not exclusively from there, but they're the majority) who moved there after retiring. Most of those purchases were made in the 10-15 years; there's a place a bit inland from my family's beach house in NC that has gone from no houses at all about 20 years ago to several hundred homes now, and that place is just one of many similar ones in the area -- in fact, a developer just purchased about 250 acres around another set of courses and the lots are selling so quickly that they've already started constructing dozens of homes. The people buying these places are generally using savings to purchase the homes rather than taking out huge mortgages.

Bluffton, as he mentioned, is at Hilton Head, so I'm sure things are similar there.

 

[Sirwalterraleigh]

Missed my point. The buyers right now are cash buyers, these places are closing quickly. No BS about this or that. I just want to show there are still zero programs out there and are heavily used by younger people.

I actually don't think it's related to any of that. People from the northeast have been moving near beaches in the south for many years now.

The golf course communities with housing in the Myrtle Beach area (not just Myrtle Beach, they're up the NC coastline as well) are filled with people from New York and New Jersey (not exclusively from there, but they're the majority) who moved there after retiring. Most of those purchases were made in the 10-15 years; there's a place a bit inland from my family's beach house in NC that has gone from no houses at all about 20 years ago to several hundred homes now, and that place is just one of many similar ones in the area -- in fact, a developer just purchased about 250 acres around another set of courses and the lots are selling so quickly that they've already started constructing dozens of homes. The people buying these places are generally using savings to purchase the homes rather than taking out huge mortgages.

Bluffton, as he mentioned, is at Hilton Head, so I'm sure things are similar there.

Mmmm...

Not that I’m doubting the situation on the Ground...but there’s a mixed message here. Cash buyers don’t fit the previous description of somehow “clueless” that was portrayed. I guess I missed that?

Anyway...I’ve been hearing about “booms” in the Carolinas since I was a kid...it’s always “Florida life”.

Doesn’t really make sense that it’s “taking hold” now. Really doesn’t. This too shall pass.

 

[_caleb]

I fully agree.... they got so greedy and arrogant!

You joined a Disney parks fan forum four years ago and your second post since then is to say that Disney is greedy and arrogant?

 

[Nubs70]

Law is suspended by Newsom EO, due to COVID.

WARN act is Federal law.

 

[Lilofan]

I actually don't think it's related to any of that. People from the northeast have been moving near beaches in the south for many years now.

The golf course communities with housing in the Myrtle Beach area (not just Myrtle Beach, they're up the NC coastline as well) are filled with people from New York and New Jersey (not exclusively from there, but they're the majority) who moved there after retiring. Most of those purchases were made in the 10-15 years; there's a place a bit inland from my family's beach house in NC that has gone from no houses at all about 20 years ago to several hundred homes now, and that place is just one of many similar ones in the area -- in fact, a developer just purchased about 250 acres around another set of courses and the lots are selling so quickly that they've already started constructing dozens of homes. The people buying these places are generally using savings to purchase the homes rather than taking out huge mortgages.

Bluffton, as he mentioned, is at Hilton Head, so I'm sure things are similar there.

I read brand new beautiful condos at Bluffton, SC for $500K that may get you a fixed upper home in parts of the Northeast. It's a probably an enclave of many from the North coming down purchasing with cash. If one thinks the pizza, bagels and Chinese food are the same quality from up North, one is in for a big surprise.

 

[Lilofan]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

Some who buy and hold in the stock market have seen tremendous gains in their net worth. It's not tourists from other countries because of covid right now but many stateside are reaping the benefits of their wealth from stock market success and paying cash at times for purchases big and small.

 

[asianway]

WARN act is Federal law.

The 60 day notice requirement is not

 

[Lilofan]

The 60 day notice requirement is not

I don't think so. WARN 60 day notice must be given to staff and other parties that need to know.

 

[Heppenheimer]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

It's not just the south. A not insignificant number of older, wealthier people from northeastern cities who can work from home have moved to suburban or rural regions. Here in Vermont, the real estate market has also been surprisingly hot. Anything waterfront property gets snatched up immediately.

 

[CaptainAmerica]

Here is an odd Fact. Our real estate market around HHI, SC has gone crazy, houses are selling with nothing more then internet pictures. Who's buying, big city northeastern middle aged people, they are fleeing the north. Specifically Bluffton, SC and surrounding areas. It's getting crazy in the building and buying older homes. I'm wondering if that plays into people not going to Disney? The whole South seems to have lit up real estate wise. I had a friend in Orlando just sold his house for $649K in 3 days, full price offer. It's a house that was built in the 50's, it's been remodeled but I'm surprised someone went full offer that quick.

The foreigners can't come to Orlando.
The northeastern people seem to be too busy looking for new places to live to go on vacation right now?
Add to that many people who are having money problems or will in the near future.

I don't doubt Orlando in general will have a hard time business wise for the next year or two? Realize Disney is getting hit on all fronts. Movies, TV, think ESPN, cruise ships, theme parks. They need to cut back on spending one way or another and in a big way across the board.

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

 

[Lilofan]

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

And I saw NJ has one of the highest real estate bankruptcies in the nation. One wonders why.. Paying a half million for a fixer upper? No thanks.

 

[Heppenheimer]

Real Estate is hot everywhere, it has nothing to do with the South. It's hot in the northeast too, where you say people are fleeing from.

As I noted, it's pretty much an exodus from the cities in general. Some are heading south, some are just heading out to the regional suburbs and exurbs, and some are fleeing into far-flung rural areas.

I'm guessing with all the things people say they like about city life being closed or unavailable, being stuck cramped together in an ugly, dirty concrete jungle can quickly lose its allure.

 

[flynnibus]

WARN act is Federal law.

Cali has their own version too... with even greater protections (shocker... i know...)