Great info, thanks @El Pip. That helps establish some good background info for the state of US companies. On your questions yes, Ron Miller is aware of the situation. He's been a fan of Kinsey too (he was IRL) and, minor spoiler alert, doesn't necessarily want to stay a CEO forever, especially considering he took the job as much out of a sense of duty as desire.Of course traditionally the COO seat is also about grooming a successor to the CEO. I wonder how much Ron Miller is aware of that corporate tradition?
To drag in some un-requested corporate finance, if you are a successful and mature company then you should be generating lots of profits (if not questions will be asked). Broadly speaking there is a hierarchy of options.;
1. Invest those profits in expanding the business
2. Return the money to shareholders
3. Let the money pile up
No-one likes 3 so it is one of the first two. If you have good investment options then that is generally preferred, though the tension is "what is a good investment option?". Management will always find something to invest money in (more investment, more staff, more power) and shareholders might not always agree. If management admit there are no good options, or if all the good options have been funded and there is money left over, then the choice is to return money to shareholders, through dividends or share buybacks (the US tax code massively favours share buybacks, so they tend to happen much more often).
Disney was famously (in the 80s and 90s anyway) a terrible payer of dividends and didn't do much stock buyback at that point. But it didn't matter because they did have lots of other uses for that money, like expanding parks or investing in other things and shareholders were fine with that. As previously discussed, it is fine to lower quarterly returns if there is a reason and a plan, shareholders are long-term greedy. Short term results matter to the extent they reflect the competence of management (you predicted $x , we got a lot less, how can I trust your long term plans?)
The early 90s were a bit wild for big US corporates - IBM and General Motors both had a catastrophic time as the mistakes of the 80s caught up with them. Shareholders forced out the CEOs in both firms, which was a seismic shock for corporate America and set the tone for a lot of the 'shareholder value' thinking that continues to this day. If there is already blood in the water and Disney makes a 'mistake' or has a big flop, things could get very messy.
Bit surprised it is an arb leading this sort of shareholder complaint. What is the arbitrage they are hoping to exploit? The 1990s saw a lot activist investors start up, so I could see one of those getting involved, it's a bit early for Bill Ackman and co but there are others.
Oh, and don't let the "arb" thing get you hung up. This particular person has done arbitrage in other cases, but in the Disney case he grabbed thousands of shares in late summer 1984 when the price dropped after the end of the Stock War, held them longer than originally planned because the returns from 1985-1988 were superb (even splitting 4 ways at one point), and got used to those bullish returns and now isn't pleased that the bull appears to be tiring out and in part blames the "passion projects" as the root cause.
Right now the opposite is part of the issue: Disney is spending literal billions between Valencia and Long Beach, with delays piling up. Not everyone is as optimistic about a park in the middle of nowhere in Spain and a super-expensive park in a crowded part of LA whose "theme" is a little off the normal Disney path.I feel like an activist investor should push them to to use the second gate. I remember when they had the Disney's America plan and I thought that would make a perfect second gate for Anaheim.
I also feel like Disney Digital could come up with a good premise for a second movie after Toy Story. I had a perfect idea for a second movie. It would be about a family of vampires trying to live in modern suburban America.
A lot of activist investing is about pushing for a merger? But with who: NBC, Triad, or even a non-media business like Hershey or McDonald's.
3D's next project will be announced soon, and may surprise you.
Very good question. Stay tuned.So um, I'm wondering if/when we'll see if Disney executive alumni move to other studios in the future as is vice versa.
Henson would love to cut out the junk food. The board isn't having it. So far Disney food quality is better than OTL since Henson has at least made it clear that the Disney reputation should include quality food for the price. So no cardboard pizza with ketchup and cheese whiz. But it's probably not going to get the full praise of New York Pizza Snobs either.I also think having Disney completely cutting out less than healthy fast food will be seen as a form of elitism by blue collar conservatives, especially once Rush Limbaugh starts to rant about it.
They took the time slot directly after TNG with the hopes that the sci fi nerds would change the channel and watch Buck. It didn't work as well as planned, so they went to the Fantasia channel."We were run on CBS immediately after Star Trek [The Next Generation] on PFN, figuring whoever watched that show could tune in to us next." - this sentence seems a bit odd? @Geekhis Khan
Duck Dodgers is of course a must.It may sound an odd first thought, but....
Where's there's Buck Rogers, there's often Duck Dodgers. Wonder if WB and Looney Tunes releases a new short from it?
I'm not a Buck Rodgers fan at all by a long shot, but neat! Bruce is always a win!
I take it HPTV is Hyperion?
More on that soon.Oh, this is something.
Thanks!Upon further research I've learned that these two aren't brother and sister:
Lorraine Williams - Wikipedia
en.wikipedia.org
Minor typo, turns out it's Shari Weiser.
That's something I would have loved to have seen as a TV show, done like an old serial.
Glad you enjoyed it. I probably would have liked it too. I recall liking Briscoe County Jr.I genuinely did a fist-pump reading this post, 1990's Buck Rogers in the 25th Century has all the makings of my TTL favourite live scifi series. The deliberate retro-aesthetic, great casting (including BRIAN BLESSED himself!), and camp-but-clever writing would have pretty much guaranteed my becoming a 'Buckaroo' in high school.
Well, a tragedy (in the classic sense) ends in a funeral, so a comedy (classic sense) should have a wedding. Thus I took some deliberate cues from Henson's epic OTL funeral here, such as the Elmo songs (he sang the rather risque 'Lydia the Tattooed Lady' there, which was one of Jim's favorites). Nothing obscene, mind you, but like Lydia a bit suggestive at times.The wedding between Sam Raimi and Lisa Henson sounds fun, not gonna lie, with the Muppets all going amok, and Kevin Clash singing some inappropriate songs for Elmo (Muppet fans would go nuts over possible footage). As for Bruce's encounter with the Henson family, John Henson sounds like a person that has ascended our current plane of existence, which would be an interesting person to talk to. Cheryl also appears nice, but no doubt the star of the show is Jim himself. Like Bruce, I'd be intimidated as all hell if I sat next to a living entertainment legend and the person considered to be the "Second Coming of Walt Disney".