GoofGoof
Premium Member
I think this about sums up part of the situation. There were certainly missteps by Disney. That doesn’t excuse the actions of the Government one bit.
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News Reedy Creek Improvement District and the Central Florida Tourism Oversight District
- Thread starter castlecake2.0
- Start date
GoofGoof
Premium Member
I can’t see the actual story but I know we talked about the big sell off on RCID bonds that resulted in the price dropping well below par. Are they saying the bond prices are going back up? Could be a sign that the financial community views that there will be a positive outcome for the district.
Disneyâs Reedy Creek bond trading spikes after DeSantis dissolution drama
The state of Florida’s impending dissolution of Walt Disney World’s (NYSE: DIS) Reedy Creek Improvement District has spiked trade activity among bond holders.www.wftv.com
Vacationeer
Well-Known Member
- In the Parks
- No
Who is the ‘them’ to which there’s no winning strategy?
ParentsOf4
Well-Known Member
Quoting that part of the article:
Chapek will need all the support he can get. With the midterm elections looming in November, issues including race, abortion, guns and LGBTQ rights will dominate the debate on the left and right. This means the image of “woke” Disney is likely to remain in the political spotlight, says Anthony Kreis, a law professor at Georgia State University.
“The issues around Disney are going to get litigated ad nauseam” during the campaign, says Kreis, who writes about civil rights and politics. “There’s no winning strategy here for them.”
My interpretation is that Professor Kreis is referring to the political war that Disney has been drawn into, even though he uses the word "litigation". With the country so deeply divided, political battles might be won and lost, but there's no end in sight for the political war that Disney has gotten itself into.
GoofGoof
Premium Member
I think it is what it is for the most part and won’t have much of an impact on business. Companies like Chic-FIL-A have taken controversial political positions and it hasn’t damaged their ability to be wildly successful as a business. The majority of people if asked directly will have an opinion on a political issue, but only a small minority are passionate enough about it to allow that opinion to impact their everyday life. Will Disney lose customers over this? Maybe some. Will that loss of business be significant enough to impact the bottom line and/or stock price? Probably not. Would taking no action or even less of a firm position have resulted in a loss of business from another group? Same 2 answers as above. This is a political battle Disney is in, but I’m not so sure they had any way to fully avoid it. As a political strategy this stuff is pretty successful, especially to pump up the base and most importantly gain donations.
Back more on topic, RCID has absolutely nothing to do with any of that. Just collateral damage. There’s nothing inherently controversial or evil about the special district. If anything it’s a large part of arguably one of the biggest success stories for a state economy in the last hundred years. Think about where FL would be if WDW was never built. That’s the sad part of this whole thing. Fortunately for most of us as fans of the park it ain’t goin nowhere. Disney doesn’t really need RCID like it did 50+ years ago and would survive fine without it.
Sooooo, where’s this plan the governor promised? Time is ticking.
Disstevefan1
Well-Known Member
The RCID bonds must be paid in any event, right? Now that RCID has been dissolved, they will be paid by Orange and Osceola County taxpayers, you know, the folks who don't actually go to WDW.
Disney Wins again.
lazyboy97o
Well-Known Member
Reedy Creek Improvement District still exists.
Disstevefan1
Well-Known Member
Sorry, I was not clear, after the official date and RCID is officially dissolved, the bond debt will be paid by Orange and Osceola County taxpayers, you know, the folks who don't actually go to WDW.
Disney Wins again.
lazyboy97o
Well-Known Member
If. There a some good arguments to be made that the dissolution law doesn’t actually apply to the Reedy Creek Improvement District.
Disstevefan1
Well-Known Member
We will see what happens...
Prince-1
Well-Known Member
Wait, you don’t think he actually lied about having a plan? Nah!!!!!
erstwo
Well-Known Member
Glad this thread has been revived - something @networkpro said (a week or so?) ago about the smart TVs got me thinking…..
I think this is on topic - let me know if it’s not: We all know utility companies spend a ton of money each year defending their networks. So do we think Disney is more of a target?? I would think they would be - imagine the dollars you could get in ‘ransom’ if you could take over the power/ water to the entire WDW resort.
Does that make Reedy Creek even more expensive to operate than a ‘normal’ utility company? Is this yet another increased expense Orange County, etc would incur? If they are forced to take over Reedy and merge Reedy with their existing networks does that make their current customers more vulnerable to cyber attack and this possibility losing power/ services?
If the answer is yes then that alone would make me livid at the governor (IF I lived in Orange, Osceola)
I think this is on topic - let me know if it’s not: We all know utility companies spend a ton of money each year defending their networks. So do we think Disney is more of a target?? I would think they would be - imagine the dollars you could get in ‘ransom’ if you could take over the power/ water to the entire WDW resort.
Does that make Reedy Creek even more expensive to operate than a ‘normal’ utility company? Is this yet another increased expense Orange County, etc would incur? If they are forced to take over Reedy and merge Reedy with their existing networks does that make their current customers more vulnerable to cyber attack and this possibility losing power/ services?
If the answer is yes then that alone would make me livid at the governor (IF I lived in Orange, Osceola)
Dan Deesnee
Well-Known Member
I'm struggling to comprehend this. How would it be any different than every other country/district in the country? Disney networks and electricity are no more vulnerable now than they would be after this Reedy Creek mess and that goes for residents in the area too.
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lazyboy97o
Well-Known Member
Operation of the utilities in the District are contracted out to Reedy Creek Energy Services, a subsidiary of The Walt Disney Company. That contract would remain in place and could always be renewed. Orange County does not run its own electric utility, so those services could be wholly privatized.
erstwo
Well-Known Member
I would think - and maybe I'm wrong here - Disney would have to fend off more attacks than your average utility company because of 'who' they are and how well known they are. If you attack my local utility company and succeed - you might be thinking of asking for $2 million (I made that number up - no idea what people usually demand and what utility companies usually pay out.) Someone attacking the utility network for Disney might think they could get exponentially more? (ETA - and thus, the utilities that support WDW are probably attacked more often because the attackers think it might be more lucrative.) That was my thought process.
Either way, I think @lazyboy97o answered my question. Just something I have pondered - and wondered if anyone had an answer - so thanks!
