Disney paying a “living wage”. Sigh…

[Pickles516]

Please refer to my comment earlier about what is and what is not an argument.

Please refer to my comment earlier about not caring.

 

[Jonfw2]

Please refer to my comment earlier about not caring.

There ya go. Money should be magic and grow on Christmas trees and everyone should be rich. Wow- how easy was that???

 

[Pickles516]

There ya go. Money should be magic and grow on Christmas trees and everyone should be rich. Wow- how easy was that???

Ah yes, the magic money tree, the only true alternative to exploiting our fellows.

 

[Jonfw2]

Ah yes, the magic money tree, the only true alternative to exploiting our fellows.

I mean, I guess I can say nothing but make it sound awesome too, right?

 

[Pickles516]

I mean, I guess I can say nothing but make it sound awesome too, right?

Somehow you’ve managed to accomplish the former while simultaneously failing at the latter.

 

[Jonfw2]

Somehow you’ve managed to accomplish the former while simultaneously failing at the latter.

1. You state a platitude that sounds like something but isn't.
2. Someone responds with facts and math.
3. You say you don't care and insult them.

Good stuff. Bye.

 

[Pickles516]

1. You state a platitude that sounds like something but isn't.
2. Someone responds with facts and math.
3. You say you don't care and insult them.

Good stuff. Bye.

Bye bye buttercup.

 

[DLgal]

I honestly don't know the answer, but are they losing money currently on Star Wars, Marvel, Nat Geo, Fox, etc?

They are losing money on Disney+, yes. This is why they made all those acquisitions. Disney+ lost $1.5 billion just last quarter. They paid $70B for just Fox. They will probably never make their money back on that purchase. It was a foolish, greedy move.

Marvel movies are making money, but that's pretty much it. Star Wars has stagnated at this point.

And it sounds like the company wants to acquire Netflix next, to save the sinking ship that is Disney+. Sounds like a swell idea...

 

[coronationday]

There's a really good documentary in amazon prime from Abigail Disney called "The American Dream and other fairy tales" that discusses these topics.

 

[DLgal]

First off I was not asking you for a response I was asking Pickles516 but thank you, by the way when you capitalize certain word are you yelling at me? I was told thats how people yell on the internet. You have done it in several responses. Yelling never accomplish anything and I think I may have done the same in one of my response to you if I did I apologize..
I am assuming we are still referring to Disney cast members because that was the original posters intent.

1. I never said for anyone who does not make enough money to just quit their job if I did please point it out and I will admit I was wrong. I did mention if Disney cast members did not like the contract they should vote no and all cast members should go on strike if they did not get things they wanted.

2. I know many people that not only worked two jobs but went to collage. I did not go to collage but worked two jobs and spent years in advanced technical schools. I am not talking about people having two full time jobs all tho at times I was working 70 hours a week and going to school at times. My wife carried a full credit load in collage,graduated in four years and at times was working a full time job and a part time job. With the advent of on line schools now It's even easier.

3. Talking about Disney cast members, Disney will pay for your education and your right not everyone has the skill set to just do a different job. I think you are using some extreme examples to try to prove your point. Disney does hire people with disability's and I think most everyone has the ability to better themself if they want to some extent.
To think just because some people are not able to better themself because of a disability in my opinion is wrong. If they can't better themself then you are right they have to do the job they have.

4. So what you are saying is that only privileged people or lucky people can only truly get ahead in life? In that regard I think you are wrong. I have known people that pulled them self out of poverty and all around bad surroundings to become very successful in life it was not privilege or luck it was hard work and a never give up attitude.
This started out as a talk about how people working at Disney can't make enough money to pay their bills. Spending 50 years doing something you are good at or are truly happy is an achievement and good for who ever is able to do that. But in the end this subject is about cast who cant pay their bills making what they make working for Disney. Working those kind of jobs does not keep anyone from having to work more than 40 hours a week to pay their bills, it's just a fact of life.

Once again talking about Disney cast members because that is what this post is supposed to be about, there are more opportunity's at Disney than any other job I have seen. The company covers so many different kinds of and types of job it's amazing and Disney gives you every opportunity to move up and succeed. Every one at Disney has the same opportunity.

I'm not gonna rehash this argument with you. You have your myopic position and clearly are not open to looking beyond your inner circle of acquaintances and personal experiences.

My use of caps on certain words is for emphasis. It's easier than using bold or italics. I am not yelling. It's yelling when everything is in all caps. I have not done that.

 

[OKW Lover]

Maybe the Disney company needs to stop taking on so much debt due to giant media acquisitions to feed the synergy machine...

After all, isn't that what we tell consumers? To get out of debt?

No, that's not what we tell consumers. We tell them to be careful when using debt. It makes sense for things like buying a house. Perhaps also for buying a car. You get to spread the cost (and the payments) over the useful life of the asset.

As far as Disney using debt to make media acquisitions goes, it's still a perfectly good way of doing business. First you must anticipate the the acquisition will be positive to earnings. If it wasn't then you shouldn't have made the acquisition in the first place. I think all those acquisitions (Pixar, Star Wars, Marvel) have been positive to earnings. Significantly so. Issuing bonds is simply a way to fund the acquisition.

 

[Jonfw2]

They are losing money on Disney+, yes. This is why they made all those acquisitions. Disney+ lost $1.5 billion just last quarter. They paid $70B for just Fox. They will probably never make their money back on that purchase. It was a foolish, greedy move.

Marvel movies are making money, but that's pretty much it. Star Wars has stagnated at this point.

And it sounds like the company wants to acquire Netflix next, to save the sinking ship that is Disney+. Sounds like a swell idea...

I'd want to see some numbers on Marvel and Star Wars. They paid $4 billion for SW and made it back in six years. This isn't a great argument against acquisitions.

 

[Jonfw2]

No, that's not what we tell consumers. We tell them to be careful when using debt. It makes sense for things like buying a house. Perhaps also for buying a car. You get to spread the cost (and the payments) over the useful life of the asset.

As far as Disney using debt to make media acquisitions goes, it's still a perfectly good way of doing business. First you must anticipate the the acquisition will be positive to earnings. If it wasn't then you shouldn't have made the acquisition in the first place. I think all those acquisitions (Pixar, Star Wars, Marvel) have been positive to earnings. Significantly so. Issuing bonds is simply a way to fund the acquisition.

Excellent point- you said what I was trying to say but better. Most of Disney's acquisitions have been massively profitable. You can't pick and choose one entity or one quarter or something that was bought six months ago to make your argument.

 

[ConnerK]

Disney's net income (the closest thing in business to "profit") last year was about $2 billion. If every Disney employee worldwide today were given a $5 an hour raise, it would cost the company about $2 billion a year.

See the issue?

Of course, I do, but that's a simplified statement to speak on a nuanced issue. Of course, there are employees of the Disney corporation who wouldn't need a raise at all. One might also say it's fair to cut the salaries or even the bonuses of multimillionaires working in high positions in the company who have made record salaries during this time of great calamity.

 

[Jonfw2]

Of course, I do, but that's a simplified statement to speak on a nuanced issue. Of course, there are employees of the Disney corporation who wouldn't need a raise at all. One might also say it's fair to cut the salaries or even the bonuses of multimillionaires working in high positions in the company who have made record salaries during this time of great calamity.

The problem is that the vast majority of the 200k are on the lower end and there are incredibly few in the multimillionaire category you mention. You're talking about a couple of dozen versus almost 200k.

So let's say it's 150,000 who get a $5 raise...that's still 75% of one year's net income.

 

[DLgal]

I'd want to see some numbers on Marvel and Star Wars. They paid $4 billion for SW and made it back in six years. This isn't a great argument against acquisitions.

I didn't say all the acquisitions were bad. I said the Fox one was. It was unnecessary and a massive expenditure at a bad time.

 

[OKW Lover]

I didn't say all the acquisitions were bad. I said the Fox one was. It was unnecessary and a massive expenditure at a bad time.

Sorry, I didn't realize you were talking about the Fox acquisition. Still, the concept is the same. If the acquisition will be positive to earnings, then borrowing to accomplish it is a viable path.

 

[DLgal]

Sorry, I didn't realize you were talking about the Fox acquisition. Still, the concept is the same. If the acquisition will be positive to earnings, then borrowing to accomplish it is a viable path.

Okay, but it's always a guess, right? You are betting that the acquisition will be profitable.

My point is simply this:

Put your employees first. If your justification for not paying them more is that it would eat into your profits for the year, look at your spending elsewhere and figure out where the bloat is. It's hard to justify a $70B expense when your employees are literally sleeping in their cars because you *might* make money down the line.

This would be like me saying I can't pay the mortgage on the home I live in because I purchased a commercial building and all my money is going towards paying that mortgage, so I don't have enough extra, but don't worry, one day that building will make me money.

Read this article written in 2019 after the merger. It's been 3 years and NONE of what Disney was betting on has happened. It looks to be a colossal mistake.

Why do you think they brought Iger back? He did this. He is being tasked to fix it.

https://www.google.com/amp/s/www.cn...eal-success-if-valuation-maps-to-netflix.html

 

[71 Truck]

I'm not gonna rehash this argument with you. You have your myopic position and clearly are not open to looking beyond your inner circle of acquaintances and personal experiences.

My use of caps on certain words is for emphasis. It's easier than using bold or italics. I am not yelling. It's yelling when everything is in all caps. I have not done that.

Thank you for having this discussion with me it has been very enlightening. It is okay to have differing opinions this is what make civil conversations possible. I do not agree with every thing you said but I do value your opinion.

 

[Jonfw2]

Okay, but it's always a guess, right? You are betting that the acquisition will be profitable.

My point is simply this:

Put your employees first. If your justification for not paying them more is that it would eat into your profits for the year, look at your spending elsewhere and figure out where the bloat is. It's hard to justify a $70B expense when your employees are literally sleeping in their cars because you *might* make money down the line.

This would be like me saying I can't pay the mortgage on the home I live in because I purchased a commercial building and all my money is going towards paying that mortgage, so I don't have enough extra, but don't worry, one day that building will make me money.

Read this article written in 2019 after the merger. It's been 3 years and NONE of what Disney was betting on has happened. It looks to be a colossal mistake.

Why do you think they brought Iger back? He did this. He is being tasked to fix it.

https://www.google.com/amp/s/www.cn...eal-success-if-valuation-maps-to-netflix.html

But without all the acquisitions they'd have far fewer employees.

And it's way, way too early to say if the Fox purchase was good or bad- but they have a very strong track record in this area.