News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[flynnibus]

I don't think you're trying to make the argument that Disney doesn't utilize and benefit tremendously from capital it gains from it's stock offering, are you?

Newsflash - Disney is not raising money by issuing hundreds of millions in new share offers in the market. The increases in Disney shares primarily function around their M&A activity and incentive programs - not raising capital.

In this case, it was the mob of stakeholders that ran the company, and prompted Chapek's reversal.

Disney has a long history of social advocacy - so I think you are off-target.

 

[flynnibus]

Again, you seem to ignore (or misinterpret) most of what I wrote.

I never said shareholders are enraged.

I simply noted that Chapek should understand where shareholders stand.

Yet.. you are the one saying they shouldn't enrage shareholders... So again we are talking about avoiding something that never happened when Disney's prior actions? If it didn't happen, why is it even part of the discussion or concern?

Why focus on hypotheticals to argue about what already happened? You're dancing.

"understand where shareholders stand" -- like who? Vanguard? Who only care about the stock's performance? Or maybe the crazies who show up at the Annual Meeting and ask stupid questions?

Who is this audience you think Disney needs to poll and what reconciliation of answers do you think they needed to do?

 

[DisneyDebRob]

Part of that is the inventory backlog related to 2020.

Did DVC owners sell their contracts? Yes. But I'd guess that had more to do with their personal financial situation at the time, rather than unhappiness over Disney's position on a piece of legislation in the state.

Partly yes, i agree with you. It doesn’t explain why theres a problem getting that kind of time over the last 10 years or more. The real reason is there are to many DVC owners and not enough property built for them. I believe it will just get worse in the coming years. They are still selling boatloads of DVC and a occasional resort pops up or a building to a existing resort. Not enough to keep up with.

 

[kalel8145]

Man, I love this thread. Its the gift that keeps on giving.

 

[LAKid53]

That's my point, though -- they can't affect the SCOTUS decision the way they can potentially affect a bill passing (since Supreme Court justices are appointed for life and don't have to worry about elections), so there's no real reason for a company to make sweeping statements about it.

Regardless of how you feel about Disney's stance on the bill or whether they should have said anything, commenting on/lobbying for legislation is pretty standard for corporations in a way commenting on potential SCOTUS decisions is not. I don't think it's easy to draw a comparison between the two and suggest that that's why corporations have made comments on the leaked decision.

The bill that would adversely impact residential solar systems in Florida was lobbied for and written by...Florida Power.

 

[mikejs78]

So.. about that Reedy Creek Improvement District thing... Have any of you heard about it?

 

[kalel8145]

So.. about that Reedy Creek Improvement District thing... Have any of you heard about it?

I think i heard something about it 10 pages ago.

 

[GimpYancIent]

So.. about that Reedy Creek Improvement District thing... Have any of you heard about it?

Exactly!

 

[kalel8145]

When your looking for RCID discussion

 

[jleopold]

How some may recall, there were a lot of critics when Chapek got the top job. Rewind years ago , when the hated Eisner basically hand picked Iger to get the top job and the critics came out in force saying that was a mistake. Both came into the roles not fully welcomed but Iger never walked into the challenges that Chapek walked into. Iger did have that entertainment background charm in my opinion that others do not have. In regards to messaging , Chapek's top PR guy abruptly " resigned" after less than 4 months on the job.

Agree with what you said about what critics said about Iger initially... but a big difference is that many feel that Eisner overstayed his welcome. Also, Iger had a very big challenge walking into the job. The company was about to lose its deal with Pixar. The relationship between Steve Jobs and Eisner got to the point where Pixar wanted nothing to do with the Mouse House. At this time, Pixar was the defacto animation studio for Disney. Not much was coming out by Disney Animation (at least nothing at the level/quality of Pixar). Iger focused on repairing the relationship with Jobs and, well, you know how well that played out. That success not only led to Disney buying Pixar, but got Disney into the streaming game as a pioneer and allowed Iger to focus on future acquisitions like Marvel and Lucas...

 

[ParentsOf4]

For those who are interested, this graphic shows the districts affected by the new law.

 

[LittleBuford]

I believe it's just collateral damage:

"Technically, the bill would sunset all special districts established by special legislative acts prior to the enactment of the state’s current 1968 constitution and not reauthorized since. That means it’s also dissolving the Marion County Law Library District and four other districts, but the object of this sudden legislative move was clear. Hint: This isn’t about Marion County Law Library District."

Mark Lane: Mousetrap! The Florida Legislature turns on Disney

This should give pause to any company thinking about moving here. The tax climate is great. But the political climate can turn on you in an instant.

www.news-journalonline.com

 

[LAKid53]

For those who are interested, this graphic shows the districts affected by the new law.

View attachment 639438

And please note the governor's office has released no statements regarding the dissolution of those other 5 special districts.

1100 residential, commerical and industrial customers in Eastpoint, a small fishing community in Franklin County, will lose their source of safe potable water and sewage services as the District maintains and operates 2 wells and operates a 300,000 gallons per day sewer plant. Guess what, Franklin County taxpayers...you now get to pay for Eastpoint's water and waste. When I worked for DEP, even we wouldn't have done something so, well, dumb.

 

[LAKid53]

I believe it's just collateral damage:

"Technically, the bill would sunset all special districts established by special legislative acts prior to the enactment of the state’s current 1968 constitution and not reauthorized since. That means it’s also dissolving the Marion County Law Library District and four other districts, but the object of this sudden legislative move was clear. Hint: This isn’t about Marion County Law Library District."

Mark Lane: Mousetrap! The Florida Legislature turns on Disney

This should give pause to any company thinking about moving here. The tax climate is great. But the political climate can turn on you in an instant.

www.news-journalonline.com

Of course it's not....

And dissolving the Sunshine Drainage District in Broward County will have unintended consequences for water quality and flooding in the county.

 

[mikejs78]

For those who are interested, this graphic shows the districts affected by the new law.

View attachment 639438

The irony is, the law as written may actually apply to all the districts above *except* Reedy Creek.

 

[LittleBuford]

Agreed. I was just making a stupid joke highlighting how ridiculous this whole stunt was.

Got it!

(By the way, you weren’t agreeing with me, but with the article I was quoting. I knew nothing about the law library and looked it up in response to your post.)

 

[LAKid53]

He has a plan. It’s a really good plan. It results in Disney paying more taxes and no other taxpayers paying any more. That’s the official statement put out. So reading between the lines, when the Governor seizes control of RCID and hand picks the board they will force Disney to pay additional taxes to cover the costs of the other 5 districts as well….or maybe just the ones in red

DeSantis and his hand picked board might want to educate themselves on Florida statute regarding taxes.

 

[Sirwalterraleigh]

Partly yes, i agree with you. It doesn’t explain why theres a problem getting that kind of time over the last 10 years or more. The real reason is there are to many DVC owners and not enough property built for them. I believe it will just get worse in the coming years. They are still selling boatloads of DVC and a occasional resort pops up or a building to a existing resort. Not enough to keep up with.

They put more and more “fish” in the pond while only a small amount of “water” as time drags on…it’s just numbers.

 

[Disstevefan1]

Of course it's not....

And dissolving the Sunshine Drainage District in Broward County will have unintended consequences for water quality and flooding in the county.

But yeah, let's take away a source of safe drinking water and waste treatment & disposal for 1100 residents in Eastpoint to punish "woke" Disney.

DeSantis does not care about water quality and flooding in the county; he is on his own mission....

 

[lazyboy97o]

The irony is, the law as written may actually apply to all the districts above *except* Reedy Creek.

The argument for why the law may not even apply to the Reedy Creek Improvement District may well apply to some or all of these other districts as well. It’s been 50 years so there might be something somewhere.