Spirited Shareholder Meeting Musings:
Wouldn't you liked to have been on the corporate jet back to Burbank as Iger and Co drank up and laughed at the questions they got?
I have such happy memories of going to the meetings for many years (before Michael and, later, Bob decided to play keep away with them) ... they were celebrations of the company's past, present and future BOTH financially and creatively. They were happenings. Hell, for years everyone (even folks who only owned a single share) could bring up to four people with them and every person got a one day pass for DL or WDW.
I honestly don't even know where to start with my disgust for Disney. Sure, the financials are looking good to great in so many areas, but much of it is being done with smoke and mirrors and no regard for where the company is a decade from now.
How about a focus on something small, yet significant. Until about 5-6 years ago (under the BS guise of going green) Disney -- again, to save what amounts to a few pennies for a corporation of its size and scale -- decided that instead of producing these high quality annual reports on nice paper with lots of art that showcased all of Disney's divisions and what they were doing globally, to simply stop. Now, you get a basic letter and financials if you REQUEST them. Otherwise, it's all online, right?
Iger was asked about this at the meeting and he, candidly, or stupidly actually told the truth. Said they stopped doing so to save money. This is the world's largest media corporation ... it's all about the freaking presentation and Disney thinks shareholders should get flimsy paper, no artwork and his letter. It truly is pathetic. Disney used to be all about appearances and now they won't even go that far. You want a high quality glossy publication? Ask about buying a timeshare ... or, perhaps, a pricey AbD tour. You'll get one.
As to the substance? Was there any?
Sure, he announced Cars 3 and Incredibles 2. No one should at all be surprised by those.
Showed a bit of SDL's PoTC, which I hope will be a cool new take on a classic, but I have big worries since this isn't the Pirate Mountain concept that Tim Delaney worked on for a few years for HKDL that was shelved for cost. I'm not so concerned about fanbois trying to guess about things by looking at one or two pieces of concept art and ride layout, more concerned about this new WDI fascination with mapping and projection tech as the new 'go to' toy for the parks.
Speaking of SDL, as someone planning on being there for the opening it would be damn nice if Disney/Iger announced the date already. They have one. They have for a while. It is spring of 2014 and they're looking at opening in either November or December of 2015. C'mon already! Us Faux Top One Percenters are not going to actually pay for our flights except with miles and those cheap reward tix need to be booked far out!
Meetings sure seem shorter, despite those horrendous, cringe-inducing Q&As. than when I attended annually.
To my 'friend' at Disney, you know who you are, I really think that note deserves a response. And a proper one.
***Spirited interruption*** ... I know I missed a few pages of posts and want to be crystal clear that Run Disney gives bling to 489-pounders who enter 26-mile races and walk two miles and quit. The same bling that real runners earn for taking a marathon .... you know, seriously and running for 26.2 miles. ... Now, back to the meeting.
Iger was playing the 'I am not gonna be here in 27 months card' when answering that babble that was supposed to be a question about the DL subs returning. He knows that Disney has plans for a drastic SW redo of that area, but since the timetable got pushed back nothing will happen on his watch. That's really the whole deal with corporate BS today ... you spin a lie enough so that it is kinda, sorta, partly true and you go with that.
As for paying CMs, I was talking to a friend today and the subject of Disney's poor pay for frontliners came up. What is amazing about the folks who defend Disney is the whole thought process behind it. You pay premium prices and then some for a MAGICal WDW vacation. Don't you want the best workers to ensure you get what you paid for with your hard-earned $$$? How do you reconcile that with $8 an hour wages? Or busdrivers making $11 an hour when Orlando city drivers (mass transit is ONLY for very poor people in a place like O-Town) start at $14 per hour? Why would you ever defend Disney? (all that extremist 'I'm going to be Bill Gates someday and I don't want my money going to lazy immigrants that pop out eight babies' BS aside)
Another aside, wonder what the Four Seasons will be paying its housekeepers and shuttle drivers?
Truly amazing what Iger didn't talk about. How about ABC? The Studios beyond tentpoles (oh yeah, Disney won't make a film that doesn't cost $200 million to start!)? Any real info on NGE? Pandora? Euro Disney's continued struggles?
As to those questions from the audience, even back in the good old days of shareholder meetings (and I go back to the early Michael and Frank meetings) you'd always get a fair amount of crazies asking questions or making comments that most people have no interest in. But if you had 20 questions, a good 10-12 were always good and meaty and something that the press would be writing about. Now? I don't know the last time I heard a solid question asked in a strong and polite manner. It's been years ...
for the live blogging of the shareholders meeting, It sounds like from some of the asinine questions fielded I would have needed to chew off a limb to keep from going insane.
