This thread has triggered my inner OCD, and made me drag out all my Disney history books. From
Saving Disney: The Story of Roy E. Disney, by William Sylvester (2015)
, Roy's 3/3/2004 remarks at the DIS shareholder meeting are just as relevant today as 20 years ago:
"The Walt Disney Company is more than just a business. It is an authentic American icon - which is to say that over the years it has come to stand for something real and meaningful and worthwhile to millions of people of all ages and backgrounds around the world."
"I believe our mission has always been to be bringers of joy, to be affirmers of the good in each of us, to be - in subtle ways - teachers. To speak, as Walt once put it, "not to children but to the child in each of us."
"We do this through great storytelling, by giving our guests a few hours in another world where their cares can be momentarily put aside, by creating memories that will remain with them forever."
"This is the core of what we've come to call "Disney," and to my mind, our single biggest need is to get back to that core."
"In my view, the essence of who we are lies in the business of film - especially animation - and the stories, characters, music, and humor that well-made films generate. This is the engine that drives the train, and everything we do as a company basically flows from it."
"My Dad was quoted once as saying, "It's easy to make decisions, once you know what your values are." Unfortunately, our corporate values have been compromised in recent years."
"In large part, this is the result of a cynical management's belief that, in the absence of ideas, the road to success is to cut back on everyone and everything that once made you successful, that you don't really need to give your guests value for money, that creativity and originality are luxuries you can no longer afford...that art and artists are commodities to be bought and sold like any other office supply."
"How did the Disney Company create enormous shareholder value in the past? Two ways: first by trusting the talents and imagination of its creative people - and then by supporting them with the resources they required."
"I don't care what current management may tell you. The plain fact is, you can't fool all the people all the time. Nor can you succeed in our business by trying to get by on the cheap. Consumers know when they are getting value for their money, and they know when you're trying to sell them second-hand goods."
This was the meeting that "fired" Michael Eisner, as the vote was 43% to withhold his name from the board of directors. 72% of the cast members voted to withhold. Roy got a standing ovation after his speech.
Full text here:
https://www.sec.gov/Archives/edgar/data/1001039/000089534504000132/drpx14a6g-disney_disney.txt
