Disney Parks laying off 28,000 cast members

[Eric Smith]

As to TRON they are probably constructing just enough to seal it from the elements, Let's hope it does not become another AoA type project which was sealed in 2001 and construction restarted in 2011...

Let's hope they have done enough to allow the WDWRR to operate once again though I'm sure the 'acountaneers' in Burbank would be more that happy to see it become a static display.

Well, AoA wasn't AoA when construction stopped. It was the second half of Pop Century. It was shuttered because Disney didn't have enough demand after 9/11 to need a new value resort. Disney will have demand for a new roller coaster in the Magic Kingdom.

 

[ford91exploder]

The list is very short though.

Yet you keep implying its very long.

Per the comments from others, only Reflections and Poppins have been full stopped. All of the many others are still in progress but will be delayed a few quarters. Tron looks like it will be delayed but that's just a delay, not a full stop.

And somehow you don't consider Epic a full stop, even though they can't even say when they will revisit it - per Comcast:

The layoffs at Universal Creative come after corporate owner Comcast announced a delay in the construction of Orlando’s third theme park, called Epic Universe.

“All things considered, it’s a big capital swing, so better to really march forward with that when we have just a bit more visibility on what’s going on with the economy post-COVID,” Comcast Chief Financial Officer Mike Cavanagh said in May. “I can’t tell you when that’s going to be when we revisit it.”

https://www.orlandosentinel.com/bus...0201120-u5cxd3hlcjeqrnwtbuqnschuri-story.html

But Universal NEVER tells people anything about new projects until about 6 months before they are ready to go. Do they have a launch date planned probably not, It's going to take the resumption of routine air travel before Comcast puts construction back into high gear. But Unlike DIsney I expect they will opportunistically take advantage of cheap construction costs if at all possible. Like site work etc if a crew has just finished another project 'psst wanna few extra bucks dig these retention ponds for us'

 

[rteetz]

But Universal NEVER tells people anything about new projects until about 6 months before they are ready to go. Do they have a launch date planned probably not, It's going to take the resumption of routine air travel before Comcast puts construction back into high gear. But Unlike DIsney I expect they will opportunistically take advantage of cheap construction costs if at all possible. Like site work etc if a crew has just finished another project 'psst wanna few extra bucks dig these retention ponds for us'

I don't see how Epic Universe in some capacity doesn't happen. I think it will see changes though and obviously be delayed.

 

[ford91exploder]

Well, AoA wasn't AoA when construction stopped. It was the second half of Pop Century. It was shuttered because Disney didn't have enough demand after 9/11 to need a new value resort. Disney will have demand for a new roller coaster in the Magic Kingdom.

True but they needed the capacity in 2005 already but Iger was too worried about being a 'growth stock' so he blew a few billion on stock buybacks instead of increasing capacity. It's the story of the Bob Iger Company always 'too little too late' to serve real demand. The only important metric at the "Bob Iger Company" is EPS and juking that stat by any means possible (because thats what the executive bonuses are based on)

 

[Eric Smith]

True but they needed the capacity in 2005 already but Iger was too worried about being a 'growth stock' so he blew a few billion on stock buybacks instead of increasing capacity. It's the story of the Bob Iger Company always 'too little too late' to serve real demand. The only important metric at the "Bob Iger Company" is EPS and juking that stat by any means possible (because thats what the executive bonuses are based on)

Yes, we know. Iger is bad. Everything he does is bad. It's getting tiring at this point. Iger only started as CEO is 2005 so the construction stop on what became AoA wasn't his decision. Disney added a ton to the parks and resorts throughout Iger's tenure.

 

[ford91exploder]

I don't see how Epic Universe in some capacity doesn't happen. I think it will see changes though and obviously be delayed.

I agree, I think universal will build it piecemeal though, so when an opportunity comes along to complete an element of Epic Universe inexpensively they will use that opportunity, Just like HPL during the 2008-20011 financial crisis. Elements were constructed as opportunities for low cost construction happened. not the 'full stop' and continue when balance sheet is shiny,

Is universal going to announce anything probably not, but it would be interesing if a local DISboards member who happens to be a pilot could give periodic updates as to what's seen on the ground.

 

[ford91exploder]

Yes, we know. Iger is bad. Everything he does is bad. It's getting tiring at this point. Iger only started as CEO is 2005 so the construction stop on what became AoA wasn't his decision. Disney added a ton to the parks and resorts throughout Iger's tenure.

Iger is a bad CEO, He's the type of guy Warren Buffet talks about when he says "When you manage only for the bottom line eventually there will not be a bottom line to manage" Disney for a long time had an aura of invincibility about them. That's rapidly fading,

Where would DIsney+ numbers be without Verizon giving it away for free and ESPN continues its freefall.

When Covid is defeated and the entertainment offerings at WDW are not replaced, and the restaurants are all QS because that's the most financially efficient model. and there are no Desk people at the hotels but only kiosks. What will your opinion be then

Disney was built on a over the top customer service model as well as storytelling using structures rather than words. Iger is systematically disassembling that model at WDW once that is gone what do you have left hint not much.

 

[Eric Smith]

Iger is a bad CEO, He's the type of guy Warren Buffet talks about when he says "When you manage only for the bottom line eventually there will not be a bottom line to manage" Disney for a long time had an aura of invincibility about them. That's rapidly fading,

Iger isn't a bad CEO and he doesn't always manage from the bottom line. While he was CEO, Disney purchased Fox, Marvel, Lucasfilm and Pixar. It's hard to paint those as bad moves so far.

Where would DIsney+ numbers be without Verizon giving it away for free and ESPN continues its freefall.

The numbers that Disney reports are paying customers, so Verizon doesn't have anything to do with that. Streaming is the future of media. Movie Theaters may not survive this pandemic (at least in the US). Disney will have to find a more robust means to distribute their films.

ESPN is in some trouble right now, but that is pandemic related as live sports dried up totally for a few months.

When Covid is defeated and the entertainment offerings at WDW are not replaced, and the restaurants are all QS because that's the most financially efficient model. and there are no Desk people at the hotels but only kiosks. What will your opinion be then

Josh D'amaro already said that the entertainment will come back in the future. Everything won't come back, but Disney isn't going to leave those theaters empty.

Disney was built on a over the top customer service model as well as storytelling using structures rather than words. Iger is systematically disassembling that model at WDW once that is gone what do you have left hint not much.

Disney was built on animated movies, then got in to live action movies, then got in to theme parks, then almost went bankrupt, then recovered, then bought up a lot of profitable properties......the company has evolved over time. There is no one defining aspect of Disney. The parks are still the best in the world.

 

[RivShore]

True but they needed the capacity in 2005 already but Iger was too worried about being a 'growth stock' so he blew a few billion on stock buybacks instead of increasing capacity. It's the story of the Bob Iger Company always 'too little too late' to serve real demand. The only important metric at the "Bob Iger Company" is EPS and juking that stat by any means possible (because thats what the executive bonuses are based on)

I'm done with you guys but just one last thing - I posted a page or 2 ago that Disney is putting $24 Billion into the parks over 5 years. More than Iger spent on acquisitions, more than he spent on buybacks, more than any other themepark operator on the planet. How is that nothing but a bottom line manger? They invested more in the parks business than ever before and that's not good enough for you.

OK, I'm done, the rest of you can try and talk sense to them, if you dare...

 

[ford91exploder]

I'm done with you guys but just one last thing - I posted a page or 2 ago that Disney is putting $24 Billion into the parks over 5 years. More than Iger spent on acquisitions, more than he spent on buybacks, more than any other themepark operator on the planet. How is that nothing but a bottom line manger? They invested more in the parks business than ever before and that's not good enough for you.
v C
OK, I'm done, the rest of you can try and talk sense to them, if you dare...

i think the number you are using is off by a order of magnitude 2.5 billion is more inline with known. 25 billion would be enough to completely refurbish every element of all the US parks. Oh how i wish that number was correct.

remember Disney spent 75 billion on fox which they still have not integrated successfully

 

[skeeter31]

i think the number you are using is off by a order of magnitude 2.5 billion is more inline with known. 25 billion would be enough to completely refurbish every element of all the US parks. Oh how i wish that number was correct.

remember Disney spent 75 billion on fox which they still have not integrated successfully

I’m done arguing with you in this thread, but I did just want point out that the $24B number was correct. It was from numerous news stories in 2018. Very easily searchable.
https://www.consumeraffairs.com/news/disney-to-pour-billions-into-its-theme-parks-112018.html

 

[Disneyboy24]

So sorry

 

[ford91exploder]

I’m done arguing with you in this thread, but I did just want point out that the $24B number was correct. It was from numerous news stories in 2018. Very easily searchable.
https://www.consumeraffairs.com/news/disney-to-pour-billions-into-its-theme-parks-112018.html

well 12 billion went to Shanghai, another 6 went to DLP - leaving 6 or so for DCL and domestic parks

 

[skeeter31]

well 12 billion went to Shanghai, another 6 went to DLP - leaving 6 or so for DCL and domestic parks

But it was still $24B as quoted. And those are all Disney parks. No one was claiming it would all go to domestic parks. Disney parks encompasses them all.

 

[ford91exploder]

But it was still $24B as quoted. And those are all Disney parks. No one was claiming it would all go to domestic parks. Disney parks encompasses them all.

The problem here is Disney instituted massive cuts in quality and services at the US parks in order to ‘chase the dragon’. The Disney parks in the US need about 4-6 billion dollars per year (according to industry experts) iin maintenance capital just to maintain what they have before adding a single park bench. The US parks have not seen that much total spending during the Iger era. Which is leading to a maintenance debt. Most visible on monorail and older rides.

 

[ford91exploder]

LOL. 2030? Come on! While Tron will be a bit delayed, they’re not going to leave that area as a construction zone and have the railroad shut down for another 9+ years. Tron will open late 2021 or early 2022 at the latest.

Why not, Without the WDWRR you cant see most of it and the railroad probably costs 10 million plus to run. If it does not measurably decrease guest satisfaction. Tron and Railroad will remain in mothballs till the 60’th anniversary because thats millions that go directly to the bottom line.

 

[Eric Smith]

The problem here is Disney instituted massive cuts in quality and services at the US parks in order to ‘chase the dragon’. The Disney parks in the US need about 4-6 billion dollars per year (according to industry experts) iin maintenance capital just to maintain what they have before adding a single park bench. The US parks have not seen that much total spending during the Iger era. Which is leading to a maintenance debt. Most visible on monorail and older rides.

Can you point to the drop in quality at the US parks? There have been major expansions at both Disney World and Disneyland in the past decade.

 

[Eric Smith]

Why not, Without the WDWRR you cant see most of it and the railroad probably costs 10 million plus to run. If it does not measurably decrease guest satisfaction. Tron and Railroad will remain in mothballs till the 60’th anniversary because thats millions that go directly to the bottom line.

First of all, you can't leave a ride half built for a decade nor would Disney want to. What would be the benefit? The structure and ride track are the biggest costs of the attraction.

 

[ford91exploder]

Iger isn't a bad CEO and he doesn't always manage from the bottom line. While he was CEO, Disney purchased Fox, Marvel, Lucasfilm and Pixar. It's hard to paint those as bad moves so far.



The numbers that Disney reports are paying customers, so Verizon doesn't have anything to do with that. Streaming is the future of media. Movie Theaters may not survive this pandemic (at least in the US). Disney will have to find a more robust means to distribute their films.

ESPN is in some trouble right now, but that is pandemic related as live sports dried up totally for a few months.



Josh D'amaro already said that the entertainment will come back in the future. Everything won't come back, but Disney isn't going to leave those theaters empty.



Disney was built on animated movies, then got in to live action movies, then got in to theme parks, then almost went bankrupt, then recovered, then bought up a lot of profitable properties......the company has evolved over time. There is no one defining aspect of Disney. The parks are still the best in the world.

Come on what did you expect Josh D to say, Hey were cutting to the bone because one and done tourists dont care and will never know the difference. And its better for stockholders at the same time. Any time a corporate spokesmodel is talking assume they are lying.

 

[ford91exploder]

Can you point to the drop in quality at the US parks? There have been major expansions at both Disney World and Disneyland in the past decade.

like star wars land which looks like the average bombed out city in Yemen??? Based on the total destruction of the Star Wars brand. I recall those videos of ToysRUs on closing day. Where the only merchandise left was ‘Disney era Star Wars’