So Comcast was the highest bidder for FOX, but FOX picked Disney instead...

[Hatbox Ghostbuster]

BUT, those people that notice the Toontown paint issues and other stuff like that keep coming back. Like anything else, if guests were leaving in droves, Disney might make these fixes a higher priority. Right now, there's a vocal minority complaining about this stuff and meanwhile, Disney keeps increasing prices and parks are packed.

I think at this point, I will admit that Disney doesn't see its "bad show" as a problem. And as sad as that is, it's also not super surprising.

 

[Disney Irish]

So, in other words, bad show isn't really "bad" so long as you have long-term plans to fix it...eventually?

You'd love Epcot.

Actually no, this goes back to corporate budgeting.

Corporate budgets for things like maintenance is done a year in advance. What happens is division heads ask all their middle managers, hey give me your budget for Fiscal Year 2019. They give their budget requirements, and are allotted that amount of money. They now have only that amount of money to use for a whole year. Sure they have a list of projects they'd like to get to, but they have priority projects that require x amount of money. Say for example during the Splash refurb they encounter extra dry rot and costs more than the budget accounted for. Well that money has to come from somewhere, and asking Daddy Chapek and Uncle Iger for more money doesn't work. So they have to take that money from other projects which were slated to get funds. Now that project just went lower on the list. So now they have to try account for it in next years budget. And you see how the rest goes.

Its corporate budgeting, and its something most Disney fans don't realize. Most think, like you, well Disney makes hand over fist profit, just throw more money at it. Well there are rules to these type of things.

 

[Hatbox Ghostbuster]

Anyway, I've derailed this thread long enough...

So...

um...go Disney! Get that...content...

 

[Hatbox Ghostbuster]

Actually no, this goes back to corporate budgeting.

Corporate budgets for things like maintenance is done a year in advance. What happens is division heads ask all their middle managers, hey give me your budget for Fiscal Year 2019. They give their budget requirements, and are allotted that amount of money. They now have only that amount of money to use for a whole year. Sure they have a list of projects they'd like to get to, but they have priority projects that require x amount of money. Say for example during the Splash refurb they encounter extra dry rot and costs more than the budget accounted for. Well that money has to come from somewhere, and asking Daddy Chapek and Uncle Iger for more money doesn't work. So they have to take that money from other projects which were slated to get funds. Now that project just went lower on the list. So now they have to try account for it in next years budget. And you see how the rest goes.

Its corporate budgeting, and its something most Disney fans don't realize. Most think, like you, well Disney makes hand over fist profit, just throw more money at it. Well there are rules to these type of things.

With all due respect to people in that realm...that sounds like a pretty terrible system.

 

[Disney Irish]

With all due respect to people in that realm...that sounds like a pretty terrible system.

Blame lawmakers and the entire capitalist system, because there are laws regarding corporate budgets called GAAP (Generally Accepted Accounting Principles). And if corporations don't report their financial statements according to GAAP large fines can be imposed on them by the SEC, FTC, and other governmental agencies around the world.

 

[VJ]

I was rooting for Comcast.

"I want you to know that I was rooting for you, mate." -Captain Jack Sparrow

 

[Hatbox Ghostbuster]

Blame lawmakers and the entire capitalist system, because there are laws regarding corporate budgets called GAAP (Generally Accepted Accounting Principles). And if corporations don't report their financial statements according to GAAP large fines can be imposed on them by the SEC, FTC, and other governmental agencies around the world.

So, if the Splash refurb team had asked for more money and Disney gave it to them, they'd be fined???

 

[TROR]

Clearly we need a communist system to make Disney maintain their theme parks. Stupid capitalism and the freedom it provides to create these wonderful things we enjoy! It has absolutely nothing to do with the nincompoops in charge of Disney, just the economic system of the United States!

 

[Disney Irish]

So, if the Splash refurb team had asked for more money and Disney gave it to them, they'd be fined???

Again I'm not a corporate accountant. But my understanding is budgets are accounted for very precisely. So I can't say specifically if Disney would be fine for a budget overrun. That is why my expertise of corporate accounting gets fuzzy.

But the point is that again, a budget is set a year in advance. And funds have to be moved around from project to project for things like budget overruns.

 

[Disney Irish]

Clearly we need a communist system to make Disney maintain their theme parks. Stupid capitalism and the freedom it provides to create these wonderful things we enjoy! It has absolutely nothing to do with the nincompoops in charge of Disney, just the economic system of the United States!

The guy in charge of Disney doesn't set the budget for Disneyland maintenance. So if you want to blame anyone blame the middle manager in charge of the maintenance budget for Disneyland.

To Iger its just a line item on the P&R cost analysis report.

 

[Hatbox Ghostbuster]

Again I'm not a corporate accountant. But my understanding is budgets are accounted for very precisely. So I can't say specifically if Disney would be fine for a budget overrun. That is why my expertise of corporate accounting gets fuzzy.

But the point is that again, a budget is set a year in advance. And funds have to be moved around from project to project for things like budget overruns.

So then where is Iger pulling $35 billion in cash from?

And why would a company get fined at all for exceeding a budget set in-house?

 

[Disney Irish]

So then where is Iger pulling $35 billion in cash from?

For Fox, the extra cash for the offer?

Corporate debt, he going to a bank and getting a corporate bond issued.

 

[Sirwalterraleigh]

That's.... not how this works.

It’s not how it works at all...

Rides for you to be happy cost a lot of money to build and maintain over the longterm...

And here’s what Disney knows: YOURE GOING TO SHOW UP ANYWAY!!! They don’t want to you to have “more fun”...they want you to pay...and you will. And then you might pay $120 for 3 hours on rides at magic kingdom that we’re built 1971-1992...

It’s a ah, aint it?

 

[Deleted member 107043]

And i guess its news to me that people weren't overly fond of Paradise Pier. While maybe not as visually appealing, I never head people complain about it.

Oooh... you obviously weren't around this community when DCA opened. The comments about Paradise Pier were scathing Walt-would-be-rolling-in-his-grave type of stuff.

 

[Sirwalterraleigh]

Per CNN, Disney raises its bid to buy most of 21st Century Fox to $71.3 billion, topping Comcast's $65 billion offer last week

This is getting into “it ain’t wort it...” range...

Can’t wait for the counter offer! I can stop by Comcast hq on my way home and see what it’s gonna be...

“Do I hear $85???”

 

[Deleted member 107043]

So then where is Iger pulling $35 billion in cash from?

And why would a company get fined at all for exceeding a budget set in-house?

I'm in management at a large corporation and it amazes me how strict it is about budgets and spending until it decides not to be.

 

[Sirwalterraleigh]

Oooh... you obviously weren't around this community when DCA opened. The comments about Paradise Pier were scathing Walt-would-be-rolling-in-his-grave type of stuff.

I remember...it was because it was “cheap carnie” type stuff.

Just goes to show the difference in fan base...

I see few opinions of Chester and Hester and even fewer of “new fantasyland” being a joke with a cafeteria and a kiddie coaster

 

[Sirwalterraleigh]

I'm in management at a large corporation and it amazes me how strict it is about budgets and spending until it decides not to be.

Exactly...nothing is set when you hold the power

 

[Castle Cake Apologist]

That is not a good analogy, a better analogy is not fixing a roof tile out of place because you're already budgeting to fix the entire roof. Sure it looks bad, but why spend the money to fix it if you're already going to fix the entire thing anyways. Or another analogy would be if you see the stucco with a large crack in one section of your house, but you're already planning to paint the entire house. Why spend the money now to fix the large crack if you're already painting the entire house.

Because Disney?

 

[Disney Irish]

Because Disney?

Disney is no longer just a small company run by Walt, where Walt can just say go do it. And it gets done without any thought about the money because Roy just found a way to take care of it.

Disney is now a large corporation with large budgetary requirements. As such budgets are put in place for things like maintenance. Its how all large corporations work. Disneyland is an old park with lots of attractions and areas that are older than many of us here. Which requires a large maintenance budget. There is only so many projects that can be fit into that budget. So yes some projects slip like TT and its paint. The hope is to try and tackle those projects either in the next budget or when a large scale project can be budgeted. Its why WDI pads a lot of their budgets to try and tackle some of these smaller projects that get pushed.