Disney’s Board Prevails, According to Report

 by Ray Keating

News

DisneyBizJournal.com

April 3, 2024

 

Before the Walt Disney Company’s shareholder meeting was scheduled to kick off at 1:00 PM ET on April 3, Reuters reported that the company’s slate for the board of directors had prevailed over activist challenges.

Reuters noted that Disney “secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz's hedge fund Trian Fund Management, people familiar with the matter said on Tuesday.” The slate from Blackwells Capital also failed.

 

If this report holds up, few will be surprised given that such activist challenges rarely succeed, and that Disney has been instituting a variety of changes, including cost savings and assorted other changes meant to reinvigorate creativity, achieve efficiencies, and boost the stock price.

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

The Disney Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more.

 

Never miss any new book by Ray Keating by joining the Pastor Stephen Grant Fellowship with Ray Keating at

https://www.patreon.com/pastorstephengrantfellowship.

 

Various books by Ray Keating…

 

• The Pastor Stephen Grant thrillers and mysteries. There are 19 books in the series now.

 

• Cathedral: An Alliance of Saint Michael Novel is at Amazon. 

 

• Order The Weekly Economist III: Another 52 Quick Reads to Help You Think Like an Economist.Kindle editions here.

 

• Grab The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Kindle and paperback editions here.

 

• Purchase The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Kindle and paperbacks here. 

 

• Signed editions of Ray’s books are at www.raykeatingbooksandmore.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Iger on Florida Challenges and Free Speech

 by Ray Keating

News/Commentary

DisneyBizJournal.com

April 3, 2023

 

The Walt Disney Company shareholder meeting on April 3 was pretty standard stuff, for the most part, from the commercial-like video featuring Disney CEO Bob Iger to the votes on board members.

Toss in some expected shareholder questions both challenging and supporting recent decisions by Disney to weigh in on political issues – namely, the company’s stated opposition to Florida’s Parental Rights in Education Act – and there was little to surprise anyone.

 

The only matter of some interest was Iger’s decision to directly respond to the attacks by Florida lawmakers, led by Governor Ron DeSantis, that were generated by the company’s stance against the Parental Rights in Education Act.

 

Iger noted that Disney was the largest taxpayer in the state of Florida, and pointed out that the company plans on making $17 billion in investments in the Sunshine State over the coming decade, which would lead to an expansion of the firm’s in-state workforce by 13,000 jobs. In turn, he called the political attacks on Disney “anti-business” and “anti-Florida.”

 

Iger also tried to argue that the stance on this piece of legislation, while acknowledging that it could have been handled better, was the kind of issue that “directly affects our business and our people.” To say that’s a stretch is to be generous.

 

However, Iger also noted that whether one agrees or disagrees with what a person or a company says, the actions by Florida lawmakers amount to an attack on freedom of speech. He argued that to “punish a company for the exercise of a constitutional right” is “really wrong.”

 

Iger was right regarding the sizeable role that Disney plays in the Florida economy. His position on the company taking political stands was off base, and while sounding like some guardrails were in place, in reality, that’s not the case. But in the end, his point about government taking action to punish speech that it disagrees with was correct. One can disagree with and argue about Disney’s taking a position on a piece of legislation with which its business has no possible interest in – as I have – but in turn, one should oppose government power being used to punish such speech. Indeed, such action by government is downright unAmerican.

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right? 

 

Consider books by Ray Keating…

 

• The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel. Signed paperbacks and/or paperbacks, hardcovers and the Kindle edition at Amazon. 

 

• The Pastor Stephen Grant thrillers and mysteries. You can pre-order the latest book in the series – Under the Golden Dome: A Pastor Stephen Grant Novel. Get the signed books here, or paperbacks and Kindle editions right here.

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Behind Enemy Lines: Conservative Communiques from Left-Wing New York  –  signed books  or at  Amazon.

 

•  Free Trade Rocks! 10 Points on International Trade Everyone Should Know is available at  Amazon  in paperback or for the Kindle edition, and signed books at  www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.