News Unpaid Walt Disney World construction bills

[WDW862]

Unpaid construction bills piling up for SeaWorld, Walt Disney World

Theme parks in Central Florida have been working with county and state leaders on reopening their parks safely.

www.wfla.com

"A public records search shows a couple of liens filed against Disney since April as well.

Disney owes almost $1.2 million to New Horizon Construction Services out of Groveland for renovations done on Disney’s Saratoga Springs Resort and more than $58,000 to a Tampa company for heating, ventilating and air conditioning services at the same hotel"

 

[MisterPenguin]

Unpaid construction bills piling up for SeaWorld, Walt Disney World

Theme parks in Central Florida have been working with county and state leaders on reopening their parks safely.

www.wfla.com

"A public records search shows a couple of liens filed against Disney since April as well.

Disney owes almost $1.2 million to New Horizon Construction Services out of Groveland for renovations done on Disney’s Saratoga Springs Resort and more than $58,000 to a Tampa company for heating, ventilating and air conditioning services at the same hotel"

Not unusual, at least for Disney.

Looks like Cinderella forgot to pay the bill for the insulation in her new guest suite.

In all seriousness liens like this happen all the time in construction for a variety of reasons.

$5002.00 :ROFLOL:


We just had some liens put on new additions on school buildings... There really isn't much to it... Someone is just looking for payment... That's all...

I wonder what Disney is holding out for.. on the GC they have roughly 10% unpaid. That sounds like a normal kind of dispute holdback.. but apparently the contractors don't agree since they filed their liens to show they are not just going to roll over

I think this is pretty common. I know at our company we are always disputing the bills from contractors. Construction is very unpredictable so costs tend to overrun. They could also feel like the work is not complete so they are holding out payment until it is corrected. I have to think that in that market fighting Disney is probably not an easy thing to do. In the end the only people that really win are the lawyers.

Liens for un-paid construction costs are quite common for Disney. They are in the public records and are usually a couple per month. I think a lot of these are between a small contractor, a general contractor and Disney.

 

[Master Yoda]

Not unusual, at least for Disney.

Not unusual for anyone regularly doing construction.

I work for a relatively small material supplier that also owns a construction company and we have a person who spends the majority of her 40-hour workweek sending out preliminary notices and filing liens.

Even if Disney pays every one of its bills, it does not safeguard them from construction liens. All it takes is a contractor hired by Disney not paying a sub or material supplier and a lien will be filed against Disney since they are the property owner.

This is why you want to vet your contractors when you have work done to your house. If the guy you have doing your roof buys $5k of materials from a supplier and does not pay them, you are on the hook for the $5k even if you paid the contractor.

 

[JIMINYCR]

Oh no... Unpaid bills....Disneys credit ratings going to plummet. Wonder if they'll take a t shirt, some pins, boxes of Mickey cookies and a Goofy ear hat in trade???? Maybe we can set out some donation buckets around the parks to help out... those pennies, nickels, dimes and quarters add up. Hate to see Disney get tossed out on the street?? So give to the cause.

 

[deeevo]

Not unusual, at least for Disney.

Not usual for most for most Fortune 100 companies. We have suppliers put us on stop ship at least 3 or 4 times a year because we owe them money. It's all a game but unfortunately you have small mom and pop companies that get hurt the most. They can't afford to not get paid on time. My company has net terms of 120 days on the PO's we cut. That is ridiculous to think a supplier won't get paid for 120 days after they deliver us hardware. We always end up having to get approval to change it.

 

[danlb_2000]

Not unusual, at least for Disney.

Liens are not unusual, the volume of them is. January through March showed 1 or 2 liens a month, April jumped to 15, May 17, and June 36 so far.

 

[MAGICFLOP]

This alone means nothing, but couple it to the financial moves made in early May, as well with the halt of construction during the pandemic, looks like a liquidity problem. I hope this drives them into selling off some of its subsidiaries.. (ABC comes to mind), but thats a pipe dream (mine)

 

[peter11435]

This alone means nothing, but couple it to the financial moves made in early May, as well with the halt of construction during the pandemic, looks like a liquidity problem. I hope this drives them into selling off some of its subsidiaries.. (ABC comes to mind), but thats a pipe dream (mine)

Throughout all of this ABC was still making money.

 

[seascape]

This alone means nothing, but couple it to the financial moves made in early May, as well with the halt of construction during the pandemic, looks like a liquidity problem. I hope this drives them into selling off some of its subsidiaries.. (ABC comes to mind), but thats a pipe dream (mine)

The Walt Disney Company is doing better than many people here think. Remember Disney Plus was supposed to lose 4 to 5 billion by the end of 2023 and only break even in 2024 snd be profitable after that. The reality will be Disney Plus may lose 1 billion in its first 7 months but will be profitable before the end of 2020. I expect Disney will announce in August on their quarterly conference call that they have over 70 million subscribers and Disney Plus is profitable much earlier than expected.

 

[Minthorne]

Shouldn’t and renovation at SSR be fully funded by DVC dues?

 

[MAGICFLOP]

The Walt Disney Company is doing better than many people here think. Remember Disney Plus was supposed to lose 4 to 5 billion by the end of 2023 and only break even in 2024 snd be profitable after that. The reality will be Disney Plus may lose 1 billion in its first 7 months but will be profitable before the end of 2020. I expect Disney will announce in August on their quarterly conference call that they have over 70 million subscribers and Disney Plus is profitable much earlier than expected.

Yeah, I'm not saying that they on the verge of collapse or anything, but shutting down EPCOT for 3 months should have been the dream come true on the construction end as far as knocking out the innovations area project, only to shutter it shows that there is some concern about money.

 

[MAGICFLOP]

Throughout all of this ABC was still making money.

My ABC quip is a disguised shot at the fact that I don't like Disney owning anything in the news industry, they are already too influential in the public sphere with movies and TV shows. 6 major companies own about 90% of the news outlets and frankly I'm not on board with that....

 

[seascape]

My ABC quip is a disguised shot at the fact that I don't like Disney owning anything in the news industry, they are already too influential in the public sphere with movies and TV shows. 6 major companies own about 90% of the news outlets and frankly I'm not on board with that....

I actually was hoping ABC would add a full yime news channel to compete with MSNBC and FOX. Plus a business channel for HULU.