The Spirited Seventh Heaven ...

[Next Big Thing]

Remember, this is the same company that's taking over a year to build a parking garage…

http://www.kiwinewton.com/how-long-does-it-take-to-build-a-parking-structure

Note that this website specifically talks about poured in place concrete, which is the route the Disney Springs garage went with. It says 18-24 months (or more!) is normal for this route. And this is the more expensive route, so costs shouldn't be brought into this.

 

[Cesar R M]

Do you remember where/when he said that?

I think it was one of the spitired threads, it had a link to an interview to Iger, saying they expected to open Avatar by 2015.

also I was being sarcastic, no way in hell they could finish by 2015 if they haven't even started vertical.

Its kinda like new fantasyland. took way more than expected and we even seen announcements of announcements of openings. It was sad.

 

[Stitchon]

I mean I get that Disney takes forever...but im wondering if they are built differently

Universal Creative farms out almost all of their construction to contractors. If I remember correctly (and please, let me know if i'm mistaken), Imagineering does a large portion of its work in-house. Uni is far more efficient in its corporate and production structure than Imagineering, and WDI has a reputation for being a money pit.

 

[BrerJon]

which I ve always wondered...how can universal build theres in about 4 months and Disney take a year....

Disney has to mix magic into the concrete for its garages and that's in pretty short supply right now.

 

[Disneyhead'71]

Universal Creative farms out almost all of their construction to contractors. If I remember correctly (and please, let me know if i'm mistaken), Imagineering does a large portion of its work in-house. Uni is far more efficient in its corporate and production structure than Imagineering, and WDI has a reputation for being a money pit.

As far as actual construction and landscaping design both Uni and Disney use PCL, Nassal, and Valley Crest. Where Uni differs from Disney is that Uni outsources things like AAs, and special effects where as Disney usually develops and builds them in house.

 

[danlb_2000]

As far as actual construction and landscaping design both Uni and Disney use PCL, Nassal, and Valley Crest. Where Uni differs from Disney is that Uni outsources things like AAs, and special effects where as Disney usually develops and builds them in house.

I don't believe Disney builds their own animatronics anymore, I believe Garner Holt does all that work now. The animatronics for Little Mermaid, Mystic Manor and Radiator Springs Racers were all done by Garner.

 

[Master Yoda]

which I ve always wondered...how can universal build theres in about 4 months and Disney take a year....

As I understand it, US parking garage was a pre-fabricated one. They take less time to build, but you are held to a rather specific design. That is fine if that design works in your space, but a foot this way or that on the job site can be the difference between a 4000 space structure and a 4500 space one.

There are also the job site conditions to consider. Building in an open field presents far fewer challenges than building right next to a working shopping center and parking lots on top of an existing infrastructure.

Florida is also suffering a skilled labor shortage in the construction business. When the bubble popped about 6 years ago and construction went from gangbusters to near zero almost overnight, many of the skilled workers in Florida went elsewhere or changed careers. The company I work for has been advertising for a new designer for nearly a month and we have not had a single applicant. 4 years ago we had almost daily calls of designers looking for work.

Lastly, there is the difference between building with cash and borrowed money.

When you are building with cash it tends to cost less to spread out construction over a longer period. In doing that you don't have pay overtime, bonuses for completion dates, premiums for material, etc. You also have less being spent each quarter which makes the budget look better.

If you are financing the project you start paying that interest on day one of the build. A couple percent on a few million adds up really quick pretty much forcing you to get it done faster to save money. That results in you paying time and a half or more for overtime, night differentials for 24/7 work, premiums for materials and a host of other expenses.

 

[the.dreamfinder]

I don't believe Disney builds their own animatronics anymore, I believe Garner Holt does all that work now. The animatronics for Little Mermaid, Mystic Manor and Radiator Springs Racers were all done by Garner.

Disney only does what they call "hero" figures. AAs that are either more complex or utilize new technologies or prestige projects for TWDC. Examples include Ursala, Mater, Barack Obama and Abraham Lincoln in Great Moments.

 

[MerlinTheGoat]

I don't believe Disney builds their own animatronics anymore, I believe Garner Holt does all that work now. The animatronics for Little Mermaid, Mystic Manor and Radiator Springs Racers were all done by Garner.

Correct. In July 2012, Disney shut down the MAPO division (one task of which was to create Disney's animatronics) and is apparently now fully outsourcing to Garner Holt-
http://www.burnsland.com/2012/07/the-end-of-mapo-at-disney/

I'm not sure if they even have the ability to create their own animatronics anymore without Garner's help. Truly sad to lose another part of classic Disney, I also see it as another sign that Disney wishes to distance themselves from creating nearly as many AA heavy attractions in the future (although this has been signaled for a long time before).

Imagineering did show off an impressive new talking Lincoln head at D23 2013-

However there's no telling when this AA was created, or by whom. Could have been created before MAPO was shut down or even by Garner Holt. There's also no instances of this tech being used in the parks as of yet, though James Cameron claimed a while back that he saw some impressive new AA's at imagineering that he indicated would be used for Avatar Land (particularly mentioning heavily articulated facial expressions kind of like this). Though again there's no telling WHO created these or when (Avatar Land was announced in 2011 before MAPO was shut down), and we also don't know what the final land will have regarding AA's.

Do you remember where/when he said that?

http://www.wdwmagic.com/attractions...coming-to-disney's-animal-kingdom-in-2015.htm

It didn't take much to figure out that they'd never make this deadline, but it was what Iger said about the project regardless. Either they initially intended it for 2015 and it went through development hell, or they lied about it (it could go either way, or perhaps both).

 

[Mike S]

Correct. In July 2012, Disney shut down the MAPO division (one task of which was to create Disney's animatronics) and is apparently now fully outsourcing to Garner Holt-
http://www.burnsland.com/2012/07/the-end-of-mapo-at-disney/

I'm not sure if they even have the ability to create their own animatronics anymore without Garner's help. Truly sad to lose another part of classic Disney, I also see it as another sign that Disney wishes to distance themselves from creating nearly as many AA heavy attractions in the future (although this has been signaled for a long time before).

Imagineering did show off an impressive new talking Lincoln head at D23 2013-

However there's no telling when this AA was created, or by whom. Could have been created before MAPO was shut down or even by Garner Holt. There's also no instances of this tech being used in the parks as of yet, though James Cameron claimed a while back that he saw some impressive new AA's at imagineering that he indicated would be used for Avatar Land (particularly mentioning heavily articulated facial expressions kind of like this). Though again there's no telling WHO created these or when (Avatar Land was announced in 2011 before MAPO was shut down), and we also don't know what the final land will have regarding AA's.


http://www.wdwmagic.com/attractions...coming-to-disney's-animal-kingdom-in-2015.htm

It didn't take much to figure out that they'd never make this deadline, but it was what Iger said about the project regardless. Either they initially intended it for 2015 and it went through development hell, or they lied about it (it could go either way, or perhaps both).

Hopefully that tech is added for the inevitable update that Hall of Presidents will receive when we get a new President. They will update it right? I mean, they can't pass off a show that says Obama is still the current President.

 

[RSoxNo1]

Now, I completely agree that Star Wars needs some "slow down long enough to enjoy it" - whatever they put in. That said, have you ever tried RnR? I only ask because my mom is a complete coaster-phobic - when she was a kid she went on one of those tiny Galaxy mouse coasters, threw up, and hadn't gone near a coaster of any type (even kiddie) in 40 years. For some odd reason when we were loading my niece in RnR one day at the exit, she said to heck with it and went on. I thought she'd finally snapped, LOL, it was so uncharacteristic. She had to ask after if it really went upside down. It's so brief and her eyes were closed most of the time, and she didn't even realize it happened.

I totally get you - some rides just aren't for some folks. I agree with M:S - no thank you, no coffin for me - that's the kicker, I don't even really feel the physical effects much, it's the fact that you are sealed in a coffin and it may be paranoid but even though I'm generally not afraid of closed spaces, one which is dependent on mechanical lifts and doors that can malfunction and leave me in there for who knows how long is a bit much for me, LOL. But, if you've never tried RnC - I say give it a chance at least once - I can't tell you how crazy it is that my mom went on it and didn't think she was going to die after, LOL. She didn't get in line to do it again - but she was glad she did it just to say she did it.



I've been very surprised there hasn't been more talk about this. When I went to the Q&A at the midnight Twitter contest premiere, they specifically mentioned how yes, 2.0 was built to be modular and that it was designed to make it very easy to add new scenes/locations (it wouldn't even have to go down for any period of time, it sounded like it could be done overnight as far as install goes).

I'd love to see more - and things like Leia's voice fixed. In general, I really have to believe right now that Disney is maximizing having the entire cast assembled for what may be the last time - in terms of future Blu-ray extras, things of that nature, and then things like this.

I had Tom Fitzgerald confirm to me that the design of the attraction allows for this. I would certainly expect new Star Tours destinations with any Star Wars expansion.

 

[asianway]

@WDW1974 What do you know about the EuroDisney SCA cash problem & special meeting in the morning? Thanks

 

[AEfx]

I had Tom Fitzgerald confirm to me that the design of the attraction allows for this. I would certainly expect new Star Tours destinations with any Star Wars expansion.

I could be wrong, I don't know them by name as well as you guys, but I think he is the one who mentioned it at the Star Tours party, as well.

It leaves open a lot of possibilities - even of an occasional event return of the original attraction (though Rex would be an issue).

 

[PhotoDave219]

Hey kids, I've been working all day. What's going on in regards to Disneyland Paris? I saw something about an emergency meeting tomorrow?

 

[the.dreamfinder]

@WDW1974 What do you know about the EuroDisney SCA cash problem & special meeting in the morning? Thanks

We are a week into Fiscal Year 2015.

 

[Magenta Panther]

I know next to nothing about corporate economics. Could someone here who does, please explain...what does it mean when a company buys back its own stock?

 

[GoofGoof]

I know next to nothing about corporate economics. Could someone here who does, please explain...what does it mean when a company buys back its own stock?

You buy back your own stock to reduce the number of outstanding shares. The shares purchased are either retired or held in Treasury Stock (held by the company, but not available to the public) to be used for things like stock options or future acquisitions. The idea is that by reducing the number of shares outstanding you are returning value to shareholders by making each remaining share worth more.

 

[Magenta Panther]

You buy back your own stock to reduce the number of outstanding shares. The shares purchased are either retired or held in Treasury Stock (held by the company, but not available to the public) to be used for things like stock options or future acquisitions. The idea is that by reducing the number of shares outstanding you are returning value to shareholders by making each remaining share worth more.

I...actually understood that. You should teach this stuff!

 

[ParentsOf4]

I know next to nothing about corporate economics. Could someone here who does, please explain...what does it mean when a company buys back its own stock?

Coincidentally, I answered this same question earlier today. Below is a repost of what I wrote on another thread.

A stock repurchase (or “buyback”) is a way for a company to quickly increase the price of its stock.

When a company buys back stock, these shares of stock typically are retired and are no longer are available for trade. Effectively, these shares no longer exist. With fewer shares available, the price of the remaining shares increases.

Buying back stock is a way to reward existing shareholders since it increases the price of the shares they already own.

However, stock buybacks do nothing to improve the long-term health of a company. They do not increase revenue or profits.

Consider a large project like Epcot. In 1979-1982, corporate Disney could have spent over a billion dollars buying back stock (which might have made shareholders at that time very happy) or they could have built Epcot.

Wall Street roundly criticized the Epcot project back then but, 30 years later, corporate Disney and its shareholders are much better off financially because of Epcot. In the long-term, Disney is a stronger company because of Epcot.

It’s important to remember that senior executive compensation is tied directly to stock price. Executives sometimes are accused of repurchasing stock not because it’s best for the long-term health of the company or its shareholders, but because it’s in the best interest of executives.

Fund managers at institutional investment firms are in the same boat as Disney executives. They are not worried about how Disney will be doing 10 years from now. Their compensation (and even their jobs) are tied directly to how well Disney is doing today.

Long-term, WDW (and corporate Disney) almost certainly would be better off with a 5th Gate but there is no one who is part of the current decision-making process who would benefit financially. Rather than invest billions in a 5th Gate, today’s shareholders and Disney executives would rather see that money spent on stock buybacks.

CEO Michael Eisner built in part because of ego (he felt these projects were his Disney legacy) and in part because Disney’s largest shareholders at the time understood that real estate development takes time.

Today’s corporate Disney is owned by large investment firms that, for the most part, don’t have the patience for long-term investing.

 

[Magenta Panther]

Coincidentally, I answered this same question earlier today. Below is a repost of what I wrote on another thread.

A stock repurchase (or “buyback”) is a way for a company to quickly increase the price of its stock.

When a company buys back stock, these shares of stock typically are retired and are no longer are available for trade. Effectively, these shares no longer exist. With fewer shares available, the price of the remaining shares increases.

Buying back stock is a way to reward existing shareholders since it increases the price of the shares they already own.

However, stock buybacks do nothing to improve the long-term health of a company. They do not increase revenue or profits.

Consider a large project like Epcot. In 1979-1982, corporate Disney could have spent over a billion dollars buying back stock (which might have made shareholders at that time very happy) or invest in Epcot.

Wall Street roundly criticized the Epcot project back then but, 30 years later, corporate Disney and its shareholders are much better off financially because of Epcot. In the long-term, Disney is a stronger company because of Epcot.

It’s important to remember that senior executive compensation is tied directly to stock price. Executives sometimes are accused of repurchasing stock not because it’s best for the long-term health of the company or its shareholders, but because it’s in the best interest of executives.

Fund managers at institutional investment firms are in the same boat as Disney executives. They are not worried about how Disney will be doing 10 years from now. Their compensation (and even their jobs) are tied directly to how well Disney is doing today.

Long-term, WDW (and corporate Disney) almost certainly would be better off with a 5th Gate but there is no one who is part of the current decision-making process who would benefit financially. Rather than invest billions in a 5th Gate, today’s shareholders and Disney executives would rather see that money spent on stock buybacks.

CEO Michael Eisner built in part because of ego (he felt these projects were his Disney legacy) and in part because Disney’s largest shareholders at the time understood that real estate development takes time.

Today’s corporate Disney is owned by large investment firms that, for the most part, don’t have the patience for long-term investing.

And thank YOU as well. Very interesting...if a little painful to read. Walt, where are you when we need you?