Staggs resigns

[RSoxNo1]

Outside of Boston, no one cares about the "shoddy" reporting regarding deflategate. Most fans view the Pats as cheaters regardless.

We can thank ESPN for misinformation related to that as well. The Patriots cheated with "Spy gate" but as recently as last year, ESPN was mis-reporting what the actual charges were there as well. As part of their deflategate coverage, ESPN stated that the Pats recorded opposing teams practices. That was never a charge in deflategate. ESPN was nice enough to retract that comment though at around 2 in the morning.

A source, as in, a respected financial outlet that says Dis is artificially overpriced due to stock buy backs. It's a fun narrative I guess. Dis is on the precipice of financial ruination! Head for the hills, lower the life rafts, sell sell sell!!!!

http://www.investopedia.com/articles/02/041702.asp

 

[LAKid53]

SDL was built for a Chinese audience. Just read the ENGLISH website. That makes it abundantly clear. There are 300 million people within a 3.5 hour commute. Those people are who the resort was built for. And the 1,000 or so American, Canadian and European Disney Lifestylers who will visit. And the tourists who will visit Shanghai normally as well.

If SDL has to rely on people from anywhere else ... even just Asia ... India ... Vietnam ... Thailand, then it is in a world of trouble. I don't see that happening. The problems of SDL are systemic and start with the deal that Iger put his pen to back in 2009. People are going to show up for this ... how many from MAGIC will be there this year? (I will likely in October)

If you can, can you provide some more info on that deal? You've mentioned several times that the CPC will have a lot of control over the park and able to dictate to TWDC any plans for expansion - am I interpreting what you've previously posted correctly?

I think many people look at the growth in the Chinese economy since 1994, and forget that the country - and economy - is controlled by the CPC. And businesses were in such a rush to get into a market with a 1+b consumers that many made deals that normally they would hesitate to make elsewhere (Walmart?). This experiment in "capitalism" (yeah, made me laugh when I typed that so I had to put it in quotes) can come to a grinding halt if said experiment leads to something the CPC doesn't want... another revolution not in its favor. Where is the USSR now, hum?

And did Iger, with dreams of 1+b guests in his eyes, fall into that hole that other U.S. corporations did?

 

[RSoxNo1]

Nice things like the themed Slinky coaster with a lift-hill that was hinted at D23 but now has become an unthemed cheap Barnstormer clone.

#SaveSlinky
#ChineseBurn

The lift hill was replaced with a launch... Most people would call that an improvement.

I missed this. When was this announced/rumored?

 

[Mike S]

I missed this. When was this announced/rumored?

When LMA closed and new art was seen on the construction walls. It's covered in the TSL thread.

 

[BrianLo]

I missed this. When was this announced/rumored?

Based on the new concept art, also comments from @marni1971 and @Disneyhead'71 in the Toy Story thread.

 

[TeriofTerror]

22 and the same way. Unless you count my checking in here from time to time

Hey, my daughter is 21. If things don't work out with her current boyfriend...

 

[lazyboy97o]

If you can, can you provide some more info on that deal? You've mentioned several times that the CPC will have a lot of control over the park and able to dictate to TWDC any plans for expansion - am I interpreting what you've previously posted correctly?

Shanghai Shendi Group owns 57% of the Resort.

 

[LAKid53]

Been reading this in bits and pieces and, more importantly, what what's left of the mainstream media has been saying.

I see lots of speculation that makes me think that Jason Garcia and Soup and Salad Sandra aren't the only folks who make things up as they write and who think sourcing a story is going to something called 'The Disney Twitter' ... Here's a hint, if Lifestylers and Blogger With No Lives are the best you can do for sources, you might want to not call yourself a real reporter.

OK, now that they got that very well deserved shot ...what have I seen?

Lots of speculation and spin, spin that Tom Staggs wanted out (he did NOT), spin that this was all the Board and not The Weatherman (also NOT), that there's a power play going on by Sheryl Sandberg who wants to replace Staggs (nope, she wants to replace Iger) etc.

Also hearing and reading here the typical fan speculation about the whys. The whys are multiple and they've all been discussed here. I don't believe it was one thing. It was multiple. Although I can tell you the word at 1401 Flower is that Staggs is being scapegoated by Bob and the BoD for multiple issues, but pretty much ... Shanghai Disneyland Resort.

I also hear people talking about this being a power play by Bob looking to stay even longer (please recall we were supposed to be counting down to his June exit right now). While Bob is all ego and bravado (except when he is in China), the fact is he is looking to cash out and will be almost 68 when his contract is up. While that can be middle age in some businesses, Disney is one where you are a senior citizen at 45 and need to leave between 55-60. In other words, very, very unlikely.

Oh, then there's the supposed Marvel fanboi angle. That Old Ike hated Staggs and wanted him gone. That seems to be true, but leaves out a bigger issue: Old Ike hates Iger even more. And he doesn't have the power he did when Marvel wasn't controlled by a rat.

Just some points to ponder ...

I thought much the same - that Staggs didn't want out, but was pushed out by Iger (every time I type his last name, my tablet autocorrect to Igor, lol), perhaps at the request of some BoD members and for more than just the much stated Chinese park reason. He's been in the position about 2 years and he "announces" his departure with a 30 day notice? And he's #2 at the largest entertainment company? Smells like a firing to me....

I agree that Bob isn't going to stay past his 2018 retirement, for the reasons you stated. Plus, I believe he spent his capital with some of the BoD in maneuvering Staggs into the #2 slot and they might not agree to an extension on his contract. Especially if Shanghai isn't all that pixie dust Bob's been saying it will be.

 

[LAKid53]

Shanghai Shendi Group owns 57% of the Resort.

Thanks for the info.

But isn't Shanghai Shendi owned by the government, technically the Shanghai government? Which in reality means the CPC... I understand Disney created, developed and will operate the park, but the Chinese government, through Shanghai Shendi, will own the controlling interest, correct?

 

[lazyboy97o]

Thanks for the info.

But isn't Shanghai Shendi owned by the government, technically the Shanghai government? Which in reality means the CPC... I understand Disney created, developed and will operate the park, but the Chinese government, through Shanghai Shendi, will own the controlling interest, correct?

Yes, the company is ultimately owned by the Shanghai Municipal People's Government. That is important because despite a few millennia of supposedly unitary, absolutist governance localized power has always been important to identity and power politics. It is not synonymous with being owned by the Central Government.

 

[EPCOTCenterLover]

Some Disney fans love the movie angle, others love the parks as their main interest. I wish we could get a CEO who can wisely develop both with as much passion as Eisner. (FYI- I'm on the park end by far...)

 

[TeriofTerror]

Walt was a creative genius with Roy possessing the business savvy. Eisner did his best creative work with Wells to act as his stabilizing influence. Mayhap the board would do well if they considered the benefits of a partnership that balanced creative and financial...

 

[LAKid53]

ESPN doesn't have as much live for the four main pro sports as you'd think. Sportscenter and Sportscenter like shows are a huge chunk of their programming.

With Ray Rice, Bill Simmons called out Goodell saying that there's no way he didn't see the tape from the elevator. He called Goodell a liar and ESPN suspended Simmons for three weeks. The original Ray Rice suspension for knocking his wife unconscious was only two games. Goodell should have been forced to resign over that but ESPN's failure to stand by there guy allowed Goodell to keep his job and Simmons to ultimately move on from his.

Then because he screwed up the Ray Rice situation, Goodell took that opportunity to use ESPN as his mouthpiece for misinformation surrounding deflategate.

How important can ESPN be if they fear upsetting the NFL so much they can't be objective?

I think ESPN broadcasts more college ball than NFL, anyway. And has gone beyond the Entertainment and Sports Programming Network mission. Kinda like the NCAA....

 

[xdan0920]

We can thank ESPN for misinformation related to that as well. The Patriots cheated with "Spy gate" but as recently as last year, ESPN was mis-reporting what the actual charges were there as well. As part of their deflategate coverage, ESPN stated that the Pats recorded opposing teams practices. That was never a charge in deflategate. ESPN was nice enough to retract that comment though at around 2 in the morning.

http://www.investopedia.com/articles/02/041702.asp

I do know what a buy back is, thanks! What I asked for, again, is a respected source claiming Dis is artificially inflated due to stock buy backs. Even when they bought back 2+bill in September, all the coverage was either positive and or simply reporting. The stock also maintains a buy or hold rating at virtually every financial rating service.

 

[LAKid53]

Yes, the company is ultimately owned by the Shanghai Municipal People's Government. That is important because despite a few millennia of supposedly unitary, absolutist governance localized power has always been important to identity and power politics. It is not synonymous with being owned by the Central Government.

Thanks for the clarification. But still government owned.

 

[Gomer]

I can't speak to Lucasfilm. But talk to people who work at Pixar and Marvel if you believe that.

I admittedly can't speak to Pixar or Marvel employees directly. But I can in some respect to Lucasfilm and it has thus far seemed to be a happy marriage to my very limited knowledge. But it is a young marriage, and relationships (especially corporate ones) tend to sour and grow bitter with time. So it wouldn't surprise me if it was just a honeymoon period. Everyone's happy when you have a 2B+ hit on your hands. We'll see how people get along when Rogue One inevitably comes in at significantly less box office and fanfare.

 

[PhotoDave219]

I think ESPN broadcasts more college ball than NFL, anyway. And has gone beyond the Entertainment and Sports Programming Network mission. Kinda like the NCAA....

There's more money in college games....

 

[Quinnmac000]

I see TWDC recruiting Jeff Bezos more so than anyone with Amazon Studios already picking up some award winning hit shows and Amazon becoming a huge thing, I can see the board using his technological advances to their benefit. IT would also be a win for all of us because every single negative complaint about Amazon from a customer goes directly to his inbox or so it has been said.

 

[LAKid53]

There's more money in college games....

True, which explains the three SEC ESPN channels my cable company provides.

And more of them to broadcast.

 

[IowaHawks7]

Not sure if people saw this but supposedly after the first article linking Chernin to the top job, he has since said he does not want the position and removed his name from consideration.