Staggs resigns

[Goofyernmost]

And it needs to STOP.

It's been going on since time began, so good luck with having that happen. The BOD can stop offering the Golden Parachutes as long as all companies agree to do the same thing. That won't happen either. There is no logic to the obscene amount of money these "executives" are paid especially since many aren't worth the gun powder to blow them to hell. They get rewarded as a normal way of business, it's part of the pay structure. Maybe someday when companies are no longer able to find that much cash or stock holders finally realize that the more the "exec's" make the smaller their dividend is, there is not much hope of change.

 

[ford91exploder]

Reading @pheneix 's post prompted me to include #4.

That said, unless someone has a 51% controlling interest in a business, if you go public, you are on sale.
(Recently Richard Branson found that out the hard way).

Now, is there reason for some (not all) to want to sell, esp. if Uncle Warren decides to cut a HUGE check?

With the issues going on (ESPN, Shanghai, etc), it's certainly conceivable for some Board Members & Shareholders to gladly walk away if they are offered a huge premium to the current shareprice... I wonder if the Weatherman is one of them (let's say he thinks selling out now at a huge premium is a way to preserve his personal legacy instead of waiting until June 2018 and risk some dirty laundry making it out in the open before then).

That said, $DIS going private (or becoming a subsidiary of Berkshire Hathaway alongside See's Candies & Dairy Queen) means the job of Chairman & CEO would no longer exist, which would make Sheryl Sandberg and others make a frowny face...

Actually - if a cash offer at a premium comes in it would be a violation of fiduciary duty to do other than accept the tender offer, They of course could choose not to but once you hit that magical 50.000001 percent mark of voting shares well they don't have a choice

 

[ford91exploder]

It's been going on since time began, so good luck with having that happen. The BOD can stop offering the Golden Parachutes as long as all companies agree to do the same thing. That won't happen either. There is no logic to the obscene amount of money these "executives" are paid especially since many aren't worth the gun powder to blow them to hell. They get rewarded as a normal way of business, it's part of the pay structure. Maybe someday when companies are no longer to find that much cash or stock holders finally realize that the more the "exec's" make the smaller their dividend is, there is not much hope of change.

It's really easy the SEC or Congress could pass a rule or a law making this form of compensation illegal for public companies, Just like the changes to the inversion regulations killed the allergan/pfizer deal.

 

[HauntedMansionFLA]

And it needs to STOP.

Do you think Michael Ovitz will get the CEO job?

 

[rael ramone]

It's been going on since time began, so good luck with having that happen. The BOD can stop offering the Golden Parachutes as long as all companies agree to do the same thing. That won't happen either. There is no logic to the obscene amount of money these "executives" are paid especially since many aren't worth the gun powder to blow them to hell. They get rewarded as a normal way of business, it's part of the pay structure. Maybe someday when companies are no longer to find that much cash or stock holders finally realize that the more the "exec's" make the smaller their dividend is, there is not much hope of change.

When I get my proxies for the equities I own, there are 2 things that I always vote against:

1. Stock Options as part of executive compensation unless it appears it's also available to rank & file members (if I understood the proxy correctly $MGA does this).
2. Board members who don't own a meaningful number of shares.
(3. If it's an $AAPL proxy and your name is Bob Iger, or a $TUP proxy and your name is Meg Crofton).

Board Members and Company Officers should have a meaningful skin in the game, with each and every share bought on the open market at full market price. (Exempt from that would be a Union rep who has a seat on the board who simply doesn't have the means to own that many shares). And a minimum holding period of YEARS (unless hardship can be proved).

Next up on CNBC: Jim Stewart of NYTimes about Disney Successorship...

 

[ford91exploder]

Do you think Michael Ovitz will get the CEO job?

Right now I have no idea of what's going to happen, Not being an insider and limited to reading the tea leaves so to speak all I can say is expect a massive shoe to drop and what happens will be totally unexpected.

What's interesting about Staggs is the Chinese LIKED him, The Chinese despise Iger so his departure is even more strange than it appears on it's face. Remember the CCP kicked Iger out of the country a few months back, And now 'Zootopia' (in China 'Crazy Animal City') is being called a 'Anti-Chinese' propaganda film by the CCP. Something really bad is happening behind the scenes.

 

[HauntedMansionFLA]

Right now I have no idea of what's going to happen, Not being an insider and limited to reading the tea leaves so to speak all I can say is expect a massive shoe to drop and what happens will be totally unexpected.

What's interesting about Staggs is the Chinese LIKED him, The Chinese despise Iger so his departure is even more strange than it appears on it's face. Remember the CCP kicked Iger out of the country a few months back, And now 'Zootopia' (in China 'Crazy Animal City') is being called a 'Anti-Chinese' propaganda film by the CCP. Something really bad is happening behind the scenes.

Would it be out of the question that Disney is getting ready to acquire another big company/ franchise and the CEO wants to run the show? And I mean Big, powerful company.

 

[rael ramone]

According to Jim Stewart:

"It's Igers board. Nobody there would stand up to him.

Where is the growth going to come in this company?

He was loved there, people were heartbroken.

Ike is a controversial figure and doesn't have a lot of say in decisions, and that's good."

That's not everything he said, but he basically went with the general 'inside info' that's found in all the mainstream reporting.

 

[ford91exploder]

Would it be out of the question that Disney is getting ready to acquire another big company/ franchise and the CEO wants to run the show? And I mean Big, powerful company.

Right now NOTHING would surprise me, My personal favorite was a Chinese company purchasing Disney but Spirit says fǒu or no on that one, To me it was logical as it would ensure that Disney owned media in China.

 

[Nubs70]

It's really easy the SEC or Congress could pass a rule or a law making this form of compensation illegal for public companies, Just like the changes to the inversion regulations killed the allergan/pfizer deal.

Or they could just lower corporate tax rates to a hair below that of Ireland. Tax rates are the incentive for inversion. Remove incentive, remove inversion.

 

[ford91exploder]

Or they could just lower corporate tax rates to a hair below that of Ireland. Tax rates are the incentive for inversion. Remove incentive, remove inversion.

This is my preferred solution as well, Actually I'm a flat taxer everyone above poverty level pays a flat tax no deductions and your return fits on a postcard just like Hong Kong does.

 

[Rodan75]

According to Jim Stewart:

"It's Igers board. Nobody there would stand up to him.

Where is the growth going to come in this company?

He was loved there, people were heartbroken.

Ike is a controversial figure and doesn't have a lot of say in decisions, and that's good."

That's not everything he said, but he basically went with the general 'inside info' that's found in all the mainstream reporting.

I thought Ike lost most of his pull after Iger had to clean up a couple of messy situations where Ike was borderline abusive to some female execs. So I doubt it was just Ike that didn't like Staggs. Wouldn't be surprised if it was folks like Sandberg and Dorsey who didn't think Staggs was visionary enough for the company.

 

[UncleMike101]

Right now I have no idea of what's going to happen, Not being an insider and limited to reading the tea leaves so to speak all I can say is expect a massive shoe to drop and what happens will be totally unexpected.

What's interesting about Staggs is the Chinese LIKED him, The Chinese despise Iger so his departure is even more strange than it appears on it's face. Remember the CCP kicked Iger out of the country a few months back, And now 'Zootopia' (in China 'Crazy Animal City') is being called a 'Anti-Chinese' propaganda film by the CCP. Something really bad is happening behind the scenes.

IMO, China has had the intention all along to nationalize the Shanghai park after it opens.
If this idea finally sunk into Iger and his minions, after Staggs had assured them that this was not the case, they would have been a little perturbed at Staggs for, in their eyes, covering up for, or selling out to, his buddies in China.
I'm wondering how the stockholders will react if Shanghai turns out to be a six billion dollar gift to The Peoples Republic Of China.

 

[ford91exploder]

IMO, China has had the intention all along to nationalize the Shanghai park after it opens.
If this idea finally sunk into Iger and his minions, after Staggs had assured them that this was not the case, they would have been a little perturbed at Staggs for, in their eyes, covering up for, or selling out to, his buddies in China.
I'm wondering how the stockholders will react if Shanghai turns out to be a six billion dollar gift to The Peoples Republic Of China.

The guy with the torch and pitchfork stand in Burbank will do very well that day...

BTW I agree that Shendi is probably manuvering to take over Disney's interest in the park yet hold Disney responsible for completion. This is why Iger is never allowed to be seen in pictures so as to minimize his legitimacy as an 'owner'. Only Chinese faces are allowed to be seen in SDL photo ops with the notable exception of MDE.

 

[UncleMike101]

The guy with the torch and pitchfork stand in Burbank will do very well that day...

BTW I agree that Shendi is probably manuvering to take over Disney's interest in the park yet hold Disney responsible for completion. This is why Iger is never allowed to be seen in pictures so as to minimize his legitimacy as an 'owner'. Only Chinese faces are allowed to be seen in SDI photo ops with the notable exception of MDE.

Also the Tar & Feathers store at the outlet mall will likely have it's stock depleted.

 

[ford91exploder]

Also the Tar & Feathers store at the outlet mall will likely have it's stock depleted.

Not to mention the Split Rail Outlet also having their stock of split rails being depleted that day.

 

[lazyboy97o]

IMO, China has had the intention all along to nationalize the Shanghai park after it opens.
If this idea finally sunk into Iger and his minions, after Staggs had assured them that this was not the case, they would have been a little perturbed at Staggs for, in their eyes, covering up for, or selling out to, his buddies in China.
I'm wondering how the stockholders will react if Shanghai turns out to be a six billion dollar gift to The Peoples Republic Of China.

For what end? There is no benefit to China for nationalizing a park already majority owned by a province-level municipality. Nobody has been able to articulate one single benefit that would result from such a move.

 

[rael ramone]

I really hope CALPERS is reading this stuff.

 

[alphac2005]

Reading @pheneix 's post prompted me to include #4.

That said, unless someone has a 51% controlling interest in a business, if you go public, you are on sale.
(Recently Richard Branson found that out the hard way).

Branson at least always knew due to foreign ownership constraints on airlines in the United States, he could never have more than a 25% stake in the airline and if Virgin America had success, then they'd be a long-term target for someone.

 

[UncleMike101]

Not to mention the Split Rail Outlet also having their stock of split rails being depleted that day.

It may get to the point where Rope City and Nooses Are Us, have a profitable day as well.
Stockholders are notorious for missing the ironic humor in the possibility of a company collapse due to poor Management.