There's a whole lot of crazy on one side of this thread and a whole lot of experience and knowledge on the other.
I wonder which one is right?![]()
It makes the reading fun at least!Crazy sounds good to me!![]()
There's a whole lot of crazy on one side of this thread and a whole lot of experience and knowledge on the other.
I wonder which one is right?![]()
Disney's occupancy claims defy the ghost towns that are the larger resorts these days
...
In short I'm having a problem reconciling the ground truth with the numbers Disney is putting up
Jim Heaney was fired by DVC for intentionally submitting Aulani maintenance fees that were too low to Hawaii authorities
I saw about $300 Million in debt missing. For starters
Still waiting for the proof for these claims.
And if they won't sign off on it, they'll be fired & replaced by someone who will
Nope. The reporting requirements in that situation are red flags and the company would be nailed in the markets. Little companies might pull something like that, but not a major public company.
Really a major public company would not do this!!!!,
ENRON, Lehman Brothers, Fannie and Freddie , Countrywide, Christian Mutual, WAMU, Madoff Investments, Merrill Lynch - I could go on but these were all major public companies and Fannie and Freddie had Govt Guarantees and the financials were all as genuine as a $3 bill all of them got a 'Clean bill of Health' from their auditors and the SEC.
Some of these failures caused reputable mutual funds to 'break the buck' which technically they are not supposed (or allowed) to do.
So tell me again why major public companies should not be subject to periodic forensic audits, and prompt and severe punishment of the principals involved if illegal activities are found.
The article you linked to, which you have misinterpreted is several ways, as already pointed out, says the debt is in a wholly-owned subsidiary. That means it ain't hidden. As for your smell test...if you were issuing debt, wouldn't you rather have the option to delay repayment for 100 years? Beats the crap out out of a payday loan or one due in 10 years. The fact that somebody was willing to invest in 100 year debt (it was first issued in 1993, not 2013) of the company shows how good they believe the company's credit is.Stating that I believe numbers are 'Too Good to be True' is not saying anything illegal is going on.
Disney putting 300 million in a shell company with a repayment date 80 years in the future does not pass the 'smell test'
With something like that going on - What else is rotten in the kingdom??
WDW is a big, confusing place. We WDW experts sometimes forget that.OMG...what you are discussing in that first paragraph...somebody on property right now today was posting how FP+ was working so well and that the app was actually offering suggestions of things for the guest to do "on the way..." or "in between" FP+ selections.
I think MM+ is doing exactly that or attempting to as you said the old FP system would sometimes throw a bonus FP to direct guest traffic in a certain direction!
If you actually follow the quotes and responses that what I was responding to was the suggestion that a company would fire its auditor when the auditor disagrees with it and hire a new one that is more agreeable. That is what I was saying doesn't happen. Why? Because there is a reporting requirement when a company fires an auditor due to a disagreement on accounting. And if the company does not make that report accurately, the auditor is required to report the failure to report the disagreement. So, a major company would never do this because having a report out that says the company fired its auditor over a disagreement on the application of accounting standards causes a loss in confidence in management that would devastate the stock price.
None of the companies you mention changed auditors, and therefore are not relevant to the point I made that you failed utterly to refute.
As for breaking the buck, mutual funds are actually required to do so at certain times. They try very hard to design their operations in a way that protects them from needing to that, but when circumstances dictate, they must do so.
As for the last sentence, I never said public companies SHOULD NOT be subject to forensic audits -- I just told you why they ARE NOT subject to them. And I told you that I thought more severe punishment of people was absolutely appropriate. So I cannot tell you AGAIN things that i never told you in the first place.
Preventing, detecting, correcting and punishing those responsible for accounting irregularities is my area of expertise.Fair Enough, you seem to be an expert in this field which I am not, I've simply watched too many companies blow up and been part of one which did blow up due to 'accounting irregularities'
Might as well let it go.
That was fairly obvious. I'm impressed you are admitting it. Thanks.you seem to be an expert in this field which I am not
If you actually follow the quotes and responses that what I was responding to was the suggestion that a company would fire its auditor when the auditor disagrees with it and hire a new one that is more agreeable. That is what I was saying doesn't happen. Why? Because there is a reporting requirement when a company fires an auditor due to a disagreement on accounting. And if the company does not make that report accurately, the auditor is required to report the failure to report the disagreement. So, a major company would never do this because having a report out that says the company fired its auditor over a disagreement on the application of accounting standards causes a loss in confidence in management that would devastate the stock price.
None of the companies you mention changed auditors, and therefore are not relevant to the point I made that you failed utterly to refute.
As for breaking the buck, mutual funds are actually required to do so at certain times. They try very hard to design their operations in a way that protects them from needing to that, but when circumstances dictate, they must do so.
As for the last sentence, I never said public companies SHOULD NOT be subject to forensic audits -- I just told you why they ARE NOT subject to them. And I told you that I thought more severe punishment of people was absolutely appropriate. So I cannot tell you AGAIN things that i never told you in the first place.
Still waiting for the proof for these claims.
I would have guessed bit coin, but ding dongs are just as valuable.Here's something many people don't know. All the earnings reports are done in Disney Dollars which luckily have traded 1:1 with regular old American dollars all these years. However, rumor has it that soon, Disney dollars will be pegged to the Vietnamese Dong. The impact of this on the bottom line remains anyone's guess.
I have to say it was a pretty uneventful quarter for P&R overall. A few dodged questions on MM+ and that was really it. I found this a little interesting:
I could be reading into things, but Iger made no mention of Disneyland Resort. If Walt Disney World set a quarterly attendance record (per Bob's statement) and Domestic Parks attendance is just comparable to 1st quarter last year (per Rasulo's statement) that must mean that DLR attendance is down quarter over quarter. Q1 of last year would have been only a few months after Carsland opened so I could see growth being flat, but a decrease could be bad news. Carsland is supposed to be the model to show that investing in the parks and building new, cutting edge things is the ticket to financial success.
- Iger lead off with "Our Parks and Resorts had a great quarter setting attendance records at Walt Disney World, Hong Kong Disneyland and Tokyo Disney Resort."
- In Rasulo's prepared statements he said "attendance at our Domestic Parks and occupancy at the hotels were comparable to first quarter of last year."
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