Orlando Becoming East Coast Headquarters for Disney Parks, Experiences, and Products

[monothingie]

It's laughable that some are blaming DeSantis for this decision by Disney, announced on the same day that the Starcruiser Hotel was cancelled. Obviously, both decisions were made because of financial reasons. Funny how some people can't seem to put two and two together. Although a lot of the palaver is based on political views, rather than reason...

They ran out of napkins at Pecos Bill. Desantis was seen leaving the restaurant moments earlier with handfuls of Disney branded napkins. He was then seen leaving on the monorail which he was going to have immediately shutdown for an inspection the second he arrived back at the TTC.

 

[Chi84]

It's laughable that some are blaming DeSantis for this decision by Disney, announced on the same day that the Starcruiser Hotel was cancelled. Obviously, both decisions were made because of financial reasons. Funny how some people can't seem to put two and two together. Although a lot of the palaver is based on political views, rather than reason...

It’s not just “some.” It’s pretty much every news article out there. DeSantis is linking himself to Disney to the point people are going to think he can’t see the big picture and becomes too consumed with single-issue revenge tactics no matter the consequences. It’s not a good look for someone running for national office.

 

[Mmoore29]

Disney does not have $9-10B in cash laying around. But they do have a lot of Treasury Stock…


Hopefully it doesn’t go any lower. Could be a big Boone for Comcast, buy low sell high right?

Disney's got a healthy cash flow. With the cost savings realized, they'll pay of the $5.5 billion in immediate debt, leaving the long-term stuff to paid off that way.

Remember, Disney took on $10 billion in debt to purchase ABC. They paid that off fine, even with Eisner getting in the way and dragging them down. This is a cakewalk compared to that.

 

[mkt]

Here's a hell of an interesting theory (TL;DR: Disney shut down the Lake Nona development to help block a potential casino row opening to the east of Lake Nona in Brevard County). Click and read the WHOLE thread.

 

[MisterPenguin]

Disney does not have $9-10B in cash laying around. But they do have a lot of Treasury Stock…

Am I reading last Quarter's financials wrong? It looks like they have just about exactly $10B on hand.

 

[Sirwalterraleigh]

How much is Hulu going to cost them?

Comcast is going to own a nice chunk of $DIS

We got a player in here making waves…I admire the game though

But seriously…We know that Disneys problems are many and that they all lead back to Robert Iger…I’ll accept written apologies to everyone who didn’t listen when it was going south years ago. When someone shows you who they are…believe them.

They ran out of napkins at Pecos Bill. Desantis was seen leaving the restaurant moments earlier with handfuls of Disney branded napkins. He was then seen leaving on the monorail which he was going to have immediately shutdown for an inspection the second he arrived back at the TTC.

Well did they say “Disney parks” on them? Because things have never been the same since that con artist Rasulo did that

 

[mikejs78]

Am I reading last Quarter's financials wrong? It looks like they have just about exactly $10B on hand.

$10.39B to be more precise. Disney could buy Hulu without taking on any debt and giving any stock if it wanted to.

 

[Cliff]

Given the current state of Disney's finances....I seriously doubt they currently have the money to build the Lake Nona campus and move a bunch of employees that really dont even want to move in the first place.

This has less to do about DeSantis and everything to do with Disney cutting every dollar they can. They dont have the money to do this Bob Chapek erra project today.

Disney has way.....I mean....WAY larger and more SERIOUS problems than trying to build this place out and move staff.

I do love how people think that DeSantis caused this....haha

Is there anybody here that is ready to blame the closing of the Star Wars hotel on DeSantis too? Im sure there is somebody that will try...

 

[Chi84]

Given the current state of Disney's finances....I seriously doubt they currently have the money to build the Lake Nona campus and move a bunch of employees that really dont even want to move in the first place.

This has less to do about DeSantis and everything to do with Disney cutting every dollar they can. They dont have the money to do this Bob Chapek erra project today.

Disney has way.....I mean....WAY larger and more SERIOUS problems than trying to build this place out and move staff.

I do love how people think that DeSantis caused this....haha

Is there anybody here that is ready to blame the closing of the Star Wars hotel on DeSantis too? Im sure there is somebody that will try...

DeSantis has gone out of his way to make everything concerning Disney about him. Take a look at all the news reports today. It’s working.

 

[MarvelCharacterNerd]

About 200 Disney employees already relocated to Florida from California.

"About 200"

Almost 2 years after the mass layoff... relocation... of 2000 jobs.

So, way way way more people gave up their hopes, dreams, and careers rather than move.

And now it turns out they didn't really need to.

 

[BuddyThomas]

"About 200"

Almost 2 years after the mass layoff... relocation... of 2000 jobs.

So, way way way more people gave up their hopes, dreams, and careers rather than move.

And now it turns out they didn't really need to.

Disney already said that they would assist with relocations back to California. Maybe they will be happy about that after 90+ degree weather in May.

 

[MagicHappens1971]

Given the current state of Disney's finances....I seriously doubt they currently have the money to build the Lake Nona campus and move a bunch of employees that really dont even want to move in the first place..

As we just discussed above, they have about $10 Billion in cash on hand. They can afford to build the campus.

 

[Wendy Pleakley]

Even with EPIC UNI isn't going to be able pull anywhere near the numbers Disney does

I think to a large degree, Universal's target audience is Disney visitors who are willing to do a couple of days at Universal as part of their Disney focused vacation.

People go to Florida for Disney, first and foremost.

Universal has certainly come into their own in recent years, but anyone who thinks Disney isn't the primary driver of Florida tourism is kidding themselves.

 

[Stripes]

The DeSantis team is trying to spin the cancellation as a good thing for Florida, as there will be less Democrats moving to the state. Definitely a concerning position to take. Nonetheless…

I have to wonder, if it was such a bad thing for the state, why did they give Disney hundreds of millions of dollars in tax credits to make the move?

 

[Figgy1]

The DeSantis team is trying to spin the cancellation as a good thing for Florida, as there will be less Democrats moving to the state. Definitely a concerning position to take. Nonetheless…

I have to wonder, if it was such a bad thing for the state, why did they give Disney hundreds of millions of dollars in tax credits to make the move?

 

[lazyboy97o]

I have to wonder, if it was such a bad thing for the state, why did they give Disney hundreds of millions of dollars in tax credits to make the move?

Disney was taking advantage of generally offered incentives, not ones crafted just for them.

 

[Figgy1]

Disney was taking advantage of generally offered incentives, not ones crafted just for them.

True but....................................

 

[Stripes]

Disney was taking advantage of generally offered incentives, not ones crafted just for them.

Oh, I know. But Disney is hardly the only company whose employees lean left. If the state is unhappy about attracting businesses that employ a lot of Democrats (the horror!) why are they offering such generous incentives for companies to do just that?

And clearly, given the incentives, the state recognized and appreciated the economic benefits, otherwise the project wouldn’t have been eligible for incentives.

Now, I don’t necessarily think the cancellation of the project was incited by DeSantis but the DeSantis team’s spin isn‘t logical. If the project wasn’t cancelled they would’ve pointed to it and said “Look at all the jobs! Even with our war with Disney, the company still thinks Florida is more business friendly than California.”

 

[SpectroMagician]

Disney is struggling due to a huge drop in quality across the business. Everyone knows this is not the Disney of 15 years ago. The DeSantis thing is just a convenient excuse for a company that is struggling financially

 

[Stripes]

Disney is struggling due to a huge drop in quality across the business. Everyone knows this is not the Disney of 15 years ago. The DeSantis thing is just a convenient excuse for a company that is struggling financially

Ah yes, 2008. A legendary time for Disney quality and profitability. Nothing but hits.

From Bolt to Beverly Hills Chihuahua, that year was peak Disney.