News Round Up 2020

[dclpluto]

https://blogmickey.com/2020/04/disney-execs-upset-about-their-own-pay-cuts/

Big cry babies. If they are upset they should of kept it to themselves.

 

[The Pho]

News

Knotts Berry Farm extending 2020 annual passes through the end of 2021.

https://www.knotts.com/passholder-update

 

[TheMaxRebo]

Bo Hoo. If you don't like it leave, that is what most VPs have to say to employees.

Also VPs are supposedly leaders, they need to act like it in this case and show they are helping lead to a healthier company and are sharing in the sacrifice.

Big cry babies. If they are upset they should of kept it to themselves.

i get that, but also I do see a bit of their side from the details - not so much complaining about the cut themselves but the specifics of how it was handled:

"More specifically, they aren’t happy with the fact that the new contract that they were sent doesn’t have an end date and the execs were only given two days to sign"

"Those familiar with the new reductions note that the bulk of Iger and Chapek’s compensation will remain untouched because the cuts only apply to their base salaries. .... Iger’s base salary in the most recent fiscal year was $3 million, but he earned $44.5 million in additional compensation, which would remain intact"


So yeah, probably best to just zip it, but I can understand being grumpy about how it happened

 

[Brianstl]

i get that, but also I do see a bit of their side from the details - not so much complaining about the cut themselves but the specifics of how it was handled:

"More specifically, they aren’t happy with the fact that the new contract that they were sent doesn’t have an end date and the execs were only given two days to sign"

"Those familiar with the new reductions note that the bulk of Iger and Chapek’s compensation will remain untouched because the cuts only apply to their base salaries. .... Iger’s base salary in the most recent fiscal year was $3 million, but he earned $44.5 million in additional compensation, which would remain intact"


So yeah, probably best to just zip it, but I can understand being grumpy about how it happened

But Iger’s and Chapek’s additional compensation is based on the company’s performance They aren’t going to meet numbers they need to earn that additional compensation.

 

[skier_pete]

Been off the news and rumors page for a week or two because work has been crazy. Just got a two week-long furloughs this quarter. One this week and one in april. Not going to complain because I still have work. Assumed the rumors and news would have slowed a bunch, and it seems it did.

 

[dlavender]

I’m sure there’s a thread for this, but thought I’d ask here. Please direct me to the right thread if there’s already one like this.

What do you think Disney shelves while the recovery takes place? My guess would be Reflections. They still have one to sell and it’s gotta be tough to do that for the next year. Second guess, EPCOT expansion gets tailored back. Moana experience and others get shelved.

 

[rteetz]

I’m sure there’s a thread for this, but thought I’d ask here. Please direct me to the right thread if there’s already one like this.

What do you think Disney shelves while the recovery takes place? My guess would be Reflections. They still have one to sell and it’s gotta be tough to do that for the next year. Second guess, EPCOT expansion gets tailored back. Moana experience and others get shelved.

Yes been discussed in several places now. We will definitely see changes to the Epcot plans. Reflections remains to be seen. Moana may stay but Poppins is almost surely delayed into the future or canned altogether.

 

[Mattimation]

I’m sure there’s a thread for this, but thought I’d ask here. Please direct me to the right thread if there’s already one like this.

What do you think Disney shelves while the recovery takes place? My guess would be Reflections. They still have one to sell and it’s gotta be tough to do that for the next year. Second guess, EPCOT expansion gets tailored back. Moana experience and others get shelved.

My thoughts have been going more towards the studios, wondering what movies and shows they just decide to cancel instead of eventually picking up again. I know the Little Mermaid remake had already recorded the songs, but nothing else - I wonder if they just cut their losses with that and other films and just stick to more sure-fire things like Marvel, Star Wars, and animated movies.

 

[dlavender]

My thoughts have been going more towards the studios, wondering what movies and shows they just decide to cancel instead of eventually picking up again. I know the Little Mermaid remake had already recorded the songs, but nothing else - I wonder if they just cut their losses with that and other films and just stick to more sure-fire things like Marvel, Star Wars, and animated movies.

Kind of hope they take the opportunity to scrutinize their budgets more. I think the industry will recover relatively quickly, but perhaps in the mean time they won’t have to shelve any, just reconfigure how they are planning to produce them.

 

[OSUZorba]

i get that, but also I do see a bit of their side from the details - not so much complaining about the cut themselves but the specifics of how it was handled:

"More specifically, they aren’t happy with the fact that the new contract that they were sent doesn’t have an end date and the execs were only given two days to sign"

"Those familiar with the new reductions note that the bulk of Iger and Chapek’s compensation will remain untouched because the cuts only apply to their base salaries. .... Iger’s base salary in the most recent fiscal year was $3 million, but he earned $44.5 million in additional compensation, which would remain intact"


So yeah, probably best to just zip it, but I can understand being grumpy about how it happened

Yeah, it's fine to be upset, but they should keep it within their families. The Park CMs have no end date either and likely had the same accept or quit deadline.

I agree all the top exec taking no pay is more show than substance, though.

 

[dclpluto]

Been off the news and rumors page for a week or two because work has been crazy. Just got a two week-long furloughs this quarter. One this week and one in april. Not going to complain because I still have work. Assumed the rumors and news would have slowed a bunch, and it seems it did.

1104 for staying home is not bad.I’m going to be off every other week going to make 1313 that’s more money than if I would of work only 40 hours. Hopefully everything goes back to normal someday.

 

[Mattimation]

Kind of hope they take the opportunity to scrutinize their budgets more. I think the industry will recover relatively quickly, but perhaps in the mean time they won’t have to shelve any, just reconfigure how they are planning to produce them.

Yes, I was shocked to learn that Mulan is the most expensive remake yet - even more-so than technology heavy remakes like Lion King or Beauty and the Beast. While of course we haven't seen Mulan yet, it seems like one that could have been made on a smaller budget and still been effective.

 

[Pete M]

beacuse the news is just too depressing lately, I give you... this:

 

[bbmassey]

beacuse the news is just too depressing lately, I give you... this:

This is GREAT!!! Can we PLEASE get Muppets Jungle Cruise cut? Thanks so much for sharing.

 

[tarak]

beacuse the news is just too depressing lately, I give you... this:

These made my day. Thank you for posting them!

 

[rteetz]

https://blogmickey.com/2020/04/what-construction-projects-are-still-happening-at-walt-disney-world/

 

[The Pho]

News

SeaWorld’s CEO has resigned. Their CFO Marc Swanson is taking over as the interim CEO.

https://www.orlandosentinel.com/bus...0200406-rrblgxw7a5gzbdua2twd7u3twy-story.html

 

[CastAStone]

News

SeaWorld’s CEO has resigned. Their CFO Marc Swanson is taking over as the interim CEO.

https://www.orlandosentinel.com/bus...0200406-rrblgxw7a5gzbdua2twd7u3twy-story.html

I've been the one tamping down pessimism about bankruptcies but this is a bad sign.

Who wants to buy a dozen theme parks? The bad news is that their operating margin in good times is like 4% and the combined attendance of the 12 parks is similar to MK, but the good news is they'll be cheap!

 

[jknezek]

I've been the one tamping down pessimism about bankruptcies but this is a bad sign.

Who wants to buy a dozen theme parks? The bad news is that their operating margin in good times is like 4% and the combined attendance of the 12 parks is similar to MK, but the good news is they'll be cheap!

Yeah. Seaworld really got screwed by the Blackfish documentary. They do a lot of good. I will be sad if all that gets chopped off. But Seaworld has struggled for a while. They are exactly the kind of company this crisis could kill off. Pre-existing conditions creating vulnerabilities aren't just for humans...

 

[The Pho]

I've been the one tamping down pessimism about bankruptcies but this is a bad sign.

Who wants to buy a dozen theme parks? The bad news is that their operating margin in good times is like 4% and the combined attendance of the 12 parks is similar to MK, but the good news is they'll be cheap!

I think it sounds worse than it really is. This guy only had the job for 5 months, and he’s the 4th to resign from them in 5 years. Their board is just hard to work with, but they’ve managed to correct course under that. I’m still concerned for SeaWorld, but not because of this.