Shareholder Proposal for Disney to Spin Off Real Estate into REIT (& Star Wars)

[DonMacGregor]

Most of these board members are the same ones that let Iger run off multiple successors including decent replacements like Tom Staggs, abruptly "retire" before the pandemic hit the United States and ultimately pick Bob Chapek.

So ...

Well, when you have George Lucas, a guy who arguably has more reason to be displeased with Iger than any other human being on earth (plus having way more skin in the game than anyone else), comes out in strong support of the existing board (or strong opposition to Peltz, depending on your perspective), that has to tell you something.

 

[Jwaire]

Well, when you have George Lucas, a guy who arguably has more reason to be displeased with Iger than any other human being on earth (plus having way more skin in the game than anyone else), comes out in strong support of the existing board (or strong opposition to Peltz, depending on your perspective), that has to tell you something.

Not really. Lucas was just complaining a few years ago that he had to sell Lucasfilm because he needed the money to fund future projects and a museum.

He's may be strong supporter of Bob Iger, as he says in his press release, but I bet he can't even name Disney's board members.

His wife also happens to be on JP Morgan's board of directors.

 

[Bearval]

Membership Extras? If you're referring to discounts and such, I think "blue card" DVC owners will continue to see exactly the same perks as Annual Passholders. And those of us who are longtime owners remember a time when any discounts were few and far between.

I think Josh D'Amaro would be a strong pick to replace Iger.

In a world where profit and share value mean everything, as apparently it does to corporate raiders, you wind up with mediocrity and decay once they hit their profit goals., and then a swift decline to sell everyting off. It has happened to numberous entertainment companies.. Six Flags, Orion, MGM, Columbia, and we are currently seeing the decline of CBS/Paramount.

I remember the part of the new "mission statement" of a global pharmaceutical company I once worked for that was taken over . It had a line " to increase shareholder value" and it acted like that was all that mattered to them. I believe we were the 2nd company in the US to convert the pensions into a " cash balance plan" which screwed everybody. We had people who were not planning to retire for up to 5 more years hurry up and retire before the end of that year so they would still receive their traditional pension before the conversion since they payout would have been cut in half. Not soon after that the US government put a freeze on companies ability to do that but it was too late for ones that already did.

 

[DonMacGregor]

Not really. Lucas was just complaining a few years ago that he had to sell Lucasfilm because he needed the money to fund future projects and a museum.

But more recently he’s been far more vocal about the quality, quantity, and direction of current Lucasfilm products and it’s no secret that’s he’s not too pleased with Kathleen Kennedy anymore (maybe not Southpark level yet, but…).

Obviously Disney didn’t twist his arm to sell back in 2012, and he didn’t complain too much about the $4 billion payday, but in the ensuing decade, more so in the last 4 or 5 years, he’s become less and less happy with Disney’s stewardship of the Star Wars franchise and his creative legacy. That, and since half of the $4 billion was in stock (37 million shares to be exact), he’s taken a financial bath as well over the last 36 months.

 

[Jwaire]

But more recently he’s been far more vocal about the quality, quantity, and direction of current Lucasfilm products and it’s no secret that’s he’s not too pleased with Kathleen Kennedy anymore (maybe not Southpark level yet, but…).

Obviously Disney didn’t twist his arm to sell back in 2012, and he didn’t complain too much about the $4 billion payday,but in the ensuing decade, more so in the last 4 or 5 years, he’s become less and less happy with Disney’s stewardship of the Star Wars franchise and his creative legacy. That, and since half of the $4 billion was in stock (37 million shares to be exact), he’s taken a financial bath as well over the last 36 months.

He also couldn't stand Bob Chapek, per rumors.

 

[DonMacGregor]

He also couldn't stand Bob Chapek, per rumors.

From what I hear, he hated Chapek.

Lucas can be ridiculously two-faced about Lucasfilm. On one hand, he had zero need to sell the studio beyond a desire to fund some other nebulous endeavors, and not selling would have ensured whatever creative purity he whines about it losing. On the other hand, all he does is complain about the loss of creative purity and the bastardizing of his dream.

For a guy who literally created the film merchandise industry, and who’d license Star Wars merchandising rights to slap Luke Skywalker on just about everything from underwear to breakfast cereal, he hated Chapek even though that was Chapek’s forte.

Plus, Chapek was Iger’s hand-picked successor. More reason for Lucas to want Iger gone.

 

[Chuck S]

Just a reminder, now that the voting is over...we do need to try to return to topic to how the vote impacted DVC, as these are the DVC Boards. You are free to discuss things like "What woulld happened if Disney did had sold off the real estate/resort division?" or "How would DVC be affected if Disney slashed upkeep on the cash resorts to save money and boost stock prices, would DVC resorts be better kept than cash resorts, since our dues pay for it?" and so forth. You could even stretch to "Do you think the Star Wars hotel will be remodeled and converted to DVC?" Just so it relates to DVC. Thanks...

 

[AstroBlasters]

Just a reminder, now that the voting is over...we do need to try to return to topic to how the vote impacted DVC, as these are the DVC Boards. You are free to discuss things like "What woulld happened if Disney did had sold off the real estate/resort division?" or "How would DVC be affected if Disney slashed upkeep on the cash resorts to save money and boost stock prices, would DVC resorts be better kept than cash resorts, since our dues pay for it?" and so forth. You could even stretch to "Do you think the Star Wars hotel will be remodeled and converted to DVC?" Just so it relates to DVC. Thanks...

Probably should just close the thread….

 

[DonMacGregor]

Probably should just close the thread….

Yup.

 

[Chuck S]

We'll see where it goes. It may just die off on its own.