What's Still On and What's Now Off

[MisterPenguin]

DHS reopens with... No parades...

 

[WondersOfLife]

WWII didn't stop Disney or many other American companies. Just saying.

The company also wasn't nearly as massive back then, though, was it? And Walt Disney struggled the HELL out didn't he? And there we no theme parks were there?

 

[Sirwalterraleigh]

You can't even manage your bitterness during an existential crisis?

That wasn’t “bitterness” at all. That is exactly what buybacks have done - in practice - and we have examples - right now, real time - of how that move can backfire. The airlines can’t justify that move.

If you don’t want to talk about it fine...but don’t start a fight on non-emotional reality by inventing malice.

It’s just what has happened. I’m rarely “bitter” at all...certainly not here. The few times Mostly involving an IPA.

Regulate yourself.

There are a lot of lurkers on these boards and I imagine they will remember this thread a long time.

...you must not have any idea what that actually means.

 

[jt04]

The company also wasn't nearly as massive back then, though, was it? And Walt Disney struggled the HELL out didn't he? And there we no theme parks were there?

This isn't the time of place. Tens of thousands of employees are struggling right now and people here are throwing salt in the wound.

 

[jt04]

That wasn’t “bitterness” at all. That is exactly what buybacks have done - in practice - and we have examples - right now, real time - of how that move can backfire. The airlines can’t justify that move.

If you don’t want to talk about it fine...but don’t start a fight on non-emotional reality by inventing malice.

It’s just what has happened. I’m rarely “bitter” at all...certainly not here. The few times Mostly involving an IPA.

Regulate yourself.

...you must not have any idea what that actually means.

You have always posed as the great defender of CMs and I always knew that was a front.

The mods should have locked this thread.

 

[DarkMetroid567]

You don't consider the Green Army Men Drum Corps a parade?

 

[Sirwalterraleigh]

You have always posed as the great defender of CMs and I always knew that was a front.

The mods should have locked this thread.

What on earth does that practice have to do with employees? Which I have defended for now 2 decades?

...you’re off your meds or something. And if you want to completely kill any exchange of thought on this thread - which has veered but at least has been respectful and an exchange of ideas...then mission: accomplished.

 

[CastAStone]

I'm not sure your math is adding up... too simplistic.

It's from disney's annual report. It's not my math.

 

[WondersOfLife]

This isn't the time of place. Tens of thousands of employees are struggling right now and people here are throwing salt in the wound.

.....I'm not exactly sure what in the heck you're trying to talk about anymore.

 

[Doberge]

Disney is expected to receive some bailout, correct?

It'll be interesting to see what Disney does with the new cruise ships. If there's an expectation that demand would lack for a cruise-like Star Wars hotel then it's reasonable there's a lot to worry about growth of DCL itself. If they don't build those ships that's potentially billions that could be spent elsewhere?

And as a minor thing about ESPN, there aren't live sports but what are they missing right now? Unless the NBA cancels season, there will be some of playoffs to sell ads. MNF and college football are far away. MLB is not going to be a significant contributor (but would still be a loss). Other events like the NFL draft are planned to go on as scheduled. Assuming they still get their carriage fees, I dont see the damage to ad revenue being a big deal in spring/summer.

Finally, while I'm unsure how to feel about the projects, the suggested immediate changes (park capacity, etc) are again making me rethink about July. My daughter would be super disappointed to not meet characters and not do the boutique for her birthday that it may be worth punting and trying another time. While the boutique isn't specifically mentioned, I can't imagine a literal in-your-face experience like that reopening for a long time.

 

[DreamalittleDisney]

This is why I questioned why so many people were trying to time the re-opening. Do you really want to go with no parade, no fireworks, numerous ride closures, no meet and greets, Epcot closed, limited shows, restaurants not operating, etc.... I wouldn't.

Wonder how this affects travel plans I.e I'm coming from UK so if there was flights and park was open technically I couldn't cancel as would loose my money but winder how much of percentage the parks not running as normal it would take for it being classed as being not the same holiday I booked and having the right to cancel (currently booked for May 15th)

 

[fradz]

Oh, it's supply and demand but I wouldn't say it's just "supply and demand." Share buybacks also concentrate shareholder value instead of diluting it such as when the company issues new shares.

Yes, the idea behind buybacks is to increase the stock price. This is one of 2 ways of returning wealth to shareholders, the other being dividends. They don't create value. There are pros and cons to both.

It's not clear to me what you are arguing against. Are dividends...artificial? Sometimes buybacks don't raise the price because demand for the company's stock falls more than efforts to restrict supply increases the price. See Merck's buyback plan from 2000. Obviously buybacks aren't some golden ticket to raising the share price, or perhaps in your view a golden ticket to price manipulation. Sometimes buybacks are asinine. But the more common argument against buybacks is that they are starving companies of investment spending in the aggregate. That's pure nonsense from top to bottom. Studies have born this out and a simple look at the data demonstrates that companies have not been starving, or starved, of anything. Some companies may be doing so but they aren't representative.

Investment spending as a percentage of revenue for S&P 500 companies.
View attachment 458451

Cash and cash + cash equivalent stockpiles in dollars (I'm not sure if real or nominal) and as a percentage of total assets for S&P 500 companies.
View attachment 458452

I would reply to this, given that I wrote my Master's thesis on this very topic. But oh boy what a show this thread has become. Can we go back to discussing the impact on the parks projects?

 

[Stripes]

I would reply to this, given that I wrote my Master's thesis on this very topic. But oh boy what a ****show this thread has become. Can we go back to discussing the impact on the parks projects?

Will do. Deleted. I don't want to derail the thread. (But I'd love to hear your response in a DM!)

With regard to impacts to the parks, there is so much uncertainty about this crisis that I find it highly implausible that decisions have been made with regard to investment. They are likely exploring their options with regard to what they are going to do in the event this drags on for quite a long time as well as how they balance what they feel comfortable doing and what the competition feels comfortable doing.

 

[Sir_Cliff]

Disney was actually pretty close to failing as a company in 1940 -- WW2 probably helped Disney more than anything (since they were used to produce propaganda thus giving them work), which is actually true of a lot of American companies. WW2 isn't a good comparison for this at all.

Indeed... unless Disney starts making money off the government by renting out the Grand Floridian as a coronavirus quarantine center!

 

[GhostHost1000]

Well this thread has gone from doom to gloom

I’m hoping things begin to look at look a lot different within the next month (not just disney). I have a little more optimism I guess you could say.

I feel like while this is more contagious than the flu, if we truly knew how many people have or have had this with very mild symptoms and are/were never tested...the hospitalization and mortality rate would/could be much lower and more reflective of something like the flu which is topping 50k deaths this season but we hear nothing about. Regardless we need to take care of ourselves and each other...I’m just hoping and praying that the next few weeks or month will begin to shed new light and vision on all of this and while the reaction the world has had and taken was needed because of so many unknowns, it may not be and I hope it isn’t quite as bad as the media is making it out to be.

 

[Sirwalterraleigh]

.....I'm not exactly sure what in the heck you're trying to talk about anymore.

Just stirring the pot...not a thing more than that

 

[Tavernacle12]

Disney was actually pretty close to failing as a company in 1940 -- WW2 probably helped Disney more than anything (since they were used to produce propaganda thus giving them work), which is actually true of a lot of American companies. WW2 isn't a good comparison for this at all.

Regardless, I still don't think Disney is going to have to file Chapter 11.

My understanding always was that WW2 was the reason they nearly went under (+ the strike). They made it through on propaganda, but they lost a ton of $$$ due to not being able to release their films across Europe and Asia due to the war. They had to do propaganda because their main source of income was now a battlefield.

At least the latter point is a non-issue this time. They’ll likely be able to bring films back to the Asian theaters before the western ones, and digital releases know no boundaries.

 

[Sirwalterraleigh]

Well this thread has gone from doom to gloom

I’m hoping things begin to look at look a lot different within the next month (not just disney). I have a little more optimism I guess you could say.

I feel like while this is more contagious than the flu, if we truly knew how many people have or have had this with very mild symptoms and are/were never tested...the hospitalization and mortality rate would be much more reflective of something like the flu which is topping 50k deaths this season but we hear nothing about. Regardless we need to take care of ourselves and each other...I’m just hoping and praying that the next few weeks or month will begin to shed new light and vision on all of this and while the reaction the world has had and taken was needed because of so many unknowns, it may not be as quite bad as the media is making it out to be.

The lack of proper prep and uniform response is contributing greatly to the panic - just my opinion.

Admit our mistakes and decide to do what we can...not get into a discussion about C-Law or Corporate governance.

The real time world situation shouldn’t resemble a thread off the rails here. And let’s admit: it kinda has.

Back on topic - I hope.

 

[Sirwalterraleigh]

Wonder how this affects travel plans I.e I'm coming from UK so if there was flights and park was open technically I couldn't cancel as would loose my money but winder how much of percentage the parks not running as normal it would take for it being classed as being not the same holiday I booked and having the right to cancel (currently booked for May 15th)

May 15th is a tough date right now. Hasn’t Boris basically called everyone home to seal your borders?

I wish you good luck...however it turns out.

 

[VaderTron]

Creating billion dollar tent pole movies and the Disney+ content that will save the company. Again.

They expect to lose money on Disney+ till around 2024. That's a long wait for rescue when you're drowning now.