Board back Eisner in latest round

Parks, resorts, dining, attractions, vacations

NYTRVKGyaheecom
http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=568&e=5&u=/nm/20040210/bs_nm/media_disney_dc_2
                                            
Charlie
My favorite two paragraphs from the story - these are referring to Roy
Disney and Frank Wells:

"'They fail to tell you they voted to approve, and in some cases
championed, the very business decisions they now condemn,' the board
said."

"Roy Disney and Gold countered that their votes were based on
financial projections given by management and that in some cases, such
as Disney's acquisition of the Fox Family Channel, management failed
'to even come close to achieving' its goals."

So, am I correct in assuming that the same crowd that would cheer
Disney and Gold for blaming "management financial projections" are the
same people who would chasitise our president for blaming the lack of
WMD in Iraq on "bad intelligence reports"?

It's amazing how peoples' opinion of some actions swings 180 degrees,
depending upon if it's something they support or not.

Foxtrot
                                            
Derek
Sorry, Fab, but they did attack a weak point:

The Letter ISN'T a crusading Charge of the Mouse Brigade; reading it for 
real, it sounds remarkably like a couple of execs who got picked on, 
fired, and now hate their boss--
The animation-division firings are barely mentioned, the Pixar loss 
hadn't come up yet, and thought we buried that outsider-overgeneralizing 
"ABC and California Adventure are MIKE'S fault!" crap a year ago...

...Somebody *else*'s going to have to bring Mike's animator-firing 
camel's-straw to the table, but if you're waiting for a Roy in White, 
might want to start thinking up a new plan.

Derek Janssen
[email protected]
                                            
discoverybayaolcomstipated
20040210/bs_nm/media_disney_dc_2


I'm not Charlie Foxtrot nor TMGwhatever.  

Fab

ROY AND STANLEY ARE RIGHT!!!
http://www.fabulousdisneybabe.com
Disgruntled Imagineer, fabulous, Stanley and Roy are Right shirts:
http://www.cafeshops.com/fabdisbabe
                                            
Derek
>>
 >>reading it for real, it sounds remarkably like a couple of
 >>loss hadn't come up yet, and thought we buried that outsider-
 >>overgeneralizing "ABC and California Adventure are MIKE'S fault!"
 >>crap a year ago...

No, but you did buy into the whole "Help me, Roy-Kenobi, you're our only 
hope" campaign the most overenthusiastically on the group, thus selling 
yourself as the one authority to steer the discussion over to on "Why 
didn't it work??"

It was a bad strategy to hitch the wagons to, and now even those newer 
anti-Eisner convert/holdouts may have to look for a more effective one 
pretty quickly, before the current one cheerily goes over a cliff while 
enjoying the view...Any thoughts?

Derek Janssen
[email protected]
                                            
discoverybayaolcomstipated
Yeah.  You seem to have way too much free time.

Fab


ROY AND STANLEY ARE RIGHT!!!
http://www.fabulousdisneybabe.com
Disgruntled Imagineer, fabulous, Stanley and Roy are Right shirts:
http://www.cafeshops.com/fabdisbabe
                                            
hrhdisneydivacom
For me it is not about "buying in" as you say.  From where I stand, I
am thankful that someone, Roy, Stanley or otherwise has finally taken
a stand with Eisner or anyone else.  These problems that we all hear
about are not new, this kind of lack of respect for being responsible
to the shareholder has been going on for a while now.  Do you think
Roy is without mistakes, no he is not.  However, I am glad that
someone is trying to bring recognition to a problem that I and many
others have felt for a long time.

We all go to WDW and DL, many of us have been there multiples times
per year and WE DON'T OWN DVC, have you ever been recognized for your
passion for WDW or the amount of money that you have given Disney over
the years.  If Disney were Marriott or Sheraton, you would have a free
night by now and special status at the resorts. Only recently has the
Disney Visa attempted to rectify that situation.  Even with the Disney
Visa you are not being rewarded for just choosing Disney but for
everything you spend your money on, so it is still not a true
rewards/loyalty program.  AND if it was any other companie we all
would have stopped being loyal by now but we haven't and most likely
we won't.

This mode of thinking is the same with the shareholders--why should
the board listen to the shareholders when they just keep giving the
company their money and we (the board) can do what we (the board) want
with it.  This board owes an explanation to the tens of thousands of
people who have lost a lot of money keeping their money in the pockets
of the Disney Executives instead of making long term growth and profit
a priority.

Michael Eisner was rewarded with $700 million in bonuses and salary
since 1996, I have lost $39,000 on my Disney stock in that time
period.  So do I believe that I am "buying into" some ideal that is
again being sold to me, no.  However, I do believe that we need a
change and in fact, we needed one a long time ago.  Over the last
several years, I have learned the hard lesson that Walt was a man and
a legacy, Disney is a company and that is the bottom line.

Also, if someone could get my $39k back that would be nice :-)