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 November 2 - 8, 2008 |
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Saturday November 8, 2008 |
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Slowdown
Begins to Show at Stalwart Disney ABC Studios' chief asks shows to trim 2 percent Politicians Site Disney World As A Reason To Stop Blackjack Disney to the Governor: We Don't Like Your Stinkin' Tax! Verplank leads Disney with second straight 64 |
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Slowdown
Begins to Show at Stalwart Disney
The New York Times - Dark days have finally come to the Magic Kingdom. Even as the weakening economy was hammering rival media conglomerates over the last year, the Walt Disney Company reported surprisingly robust results across its theme parks, consumer products and television networks. Disney shares have fallen about 33 percent since May — a sharp drop, but one that looks almost respectable considering that shares in companies like CBS have plummeted more like 70 percent. But Disney on Thursday reported a 13 percent decline in quarterly earnings on weakness in nearly every part of its empire. Movie earnings in the company's fiscal fourth quarter, ended Sept. 27, plunged 42 percent because movies like "Swing Vote" and "Miracle at St. Anna" were virtually ignored at the box office. Advertising declines hurt two Disney properties, ABC and ESPN, leading to a 4 percent drop in income at the media networks unit. Income at the theme parks dropped 4 percent because of lower bookings at Disneyland and higher costs at Walt Disney World. Over all, Disney reported net income of $760 million, or 40 cents a share, for the quarter, compared with $877 million, or 44 cents a share, a year earlier. For 2008, net income dropped to $4.4 billion from $4.7 billion. Robert A. Iger, Disney's chief executive, and Thomas O. Staggs, Disney's chief financial officer, offered a bleak assessment of the impact of the global economic crisis on the company's business prospects. Phrases like "acute softness" and "a very, very challenging time" peppered their comments on a call with analysts. "Even the best product out there is feeling the effect," Mr. Iger said. Disney's theme parks, an $11.5 billion annual business, have been vulnerable in past downturns. This time, the company is emphasizing that it has learned to minimize damage by pulling promotional and cost-saving levers. The company also has built more discount hotels since the last slowdown, in 2001. Attendance at Walt Disney World over the last month held up well — Mr. Iger said visits were down just 1 percent — but the company warned that "bookings in the last month have fallen off considerably." To improve bookings, the company on Thursday introduced hefty discounts, including free park tickets and three nights in a hotel for guests who book four-day vacations by the end of the year. At the media networks unit, ABC is emerging as a trouble spot. The network climbed out of the ratings basement in 2004 on the backs of several hit dramas but has not introduced new hits, stalling growth in television DVD sales and syndication revenue. ABC's audience in prime time has fallen about 20 percent among young adults this season compared with last. Notably, ABC's heavily promoted Wednesday, with "Private Practice," is on life support. (One bright spot is ABC News, which was No. 1 in viewers on election night.) ABC plans "numerous midseason programs," Mr. Iger said. "I realize this is a sobering outlook," he said. "This is a strong company with great assets, great brands, great people," he added, "which will help us surmount the challenges we face today." |
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ABC
Studios' chief asks shows to trim 2 percent AP - The Walt Disney Co.'s head of ABC Studios has asked its two dozen shows including "Desperate Housewives" and "Dirty Sexy Money" to trim costs 2 percent this season as the company addresses a big loss at its broadcasting group, a spokeswoman said Friday. Disney reported Thursday that the group had a $150 million operating loss in the fourth quarter, which ended Sept. 27, compared with a $33 million loss a year earlier. ABC studios' President Mark Pedowitz requested the cuts over the last few weeks, said studios spokeswoman Charissa Gilmore. "We have approached our shows about making a 2 percent cut," Gilmore said. "It's up to each show to identify where they are going to try to find those savings." Gilmore said the focus would be on areas that would not be visible on screen: "This is something that the audience will never notice." She did not put a dollar figure on the cut. Disney also reported a worse-than-expected third quarter overall on Thursday. The company's net income fell 13 percent from a year ago to $760 million, even though its revenue grew 5.8 percent to $9.45 billion. The loss at the broadcasting group was blamed largely on lower advertising revenue and in part on higher pilot expenses. ABC News President David Westin asked his staff in a memo last week to fly in cheaper seats, stay at cheaper hotels and cancel newspaper and magazine subscriptions. Holiday parties were canceled. |
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Politicians Site Disney World As A Reason To Stop Blackjack Casino Gambling Web - When an opposition group wants to cast fear about their opponents in the casino gambling battle, they turn to some pretty wild idea. The latest one in Florida might be the craziest ever posed. Attorney General Bill McCollum is worried that blackjack expansion to Seminole casinos throughout the state would be detrimental because the state has many young people visiting Florida. The young people he is speaking of? Children. "We are a tourist state with a lot of young people visiting. we've got Disney World, we've got lots of other tourist attractions, and expanding Indian gambling would be a bad idea in my opinion," said McCollum. While that may be the stance of politicians who feel slighted by Governor Charlie Crists signing of a compact with the Seminole Indians, it clearly is not the voice of the people. In both Broward and Miami-Dade Counties in the past several years, voters have chosen to vote in favor of slot expansion. Those votes follow a trend that is spreading throughout the country. "People are starting to change their opinions of casino gambling in the United States. For a long time, state governments invoked fear in voters by running negative ads against casino gambling, but in recent years, people are starting to see the benefits of having casinos in their states, and they are voting accordingly," said Harvey Graham, a gaming historian. Seminole spokesman Gary Bitner believes it is time for Florida politicians to stop causing the state to lose revenue money. "We're talking about quick hops (to the Bahamas), basically, for people to go play whatever they want. I think that over time that has had the effect of making people in the state of Florida feel more comfortable. That's the public we're talking about, not necessarily elected officials," said Bitner, to the AP. |
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Disney to the Governor: We Don't Like Your Stinkin' Tax! LAist - The sales tax hike proposed by Governor Arnold Schwarzenegger yesterday raised more than just some eyebrows around the Southland, as the plan includes taxing things that were previously un-taxed, including amusement park admission tickets. The tax on entry to places like Disneyland would begin on March 1, 2009 if the proposal is to go through, and the folks at the mighty Mouse are mad: “We oppose the Governor’s proposed theme park tax because it unfairly targets the tourism industry and may deter new visitors to the Golden State at a time we need them most,” said resort spokeswoman Lisa Haines in an e-mail statement. “This tax is not worth the risk to an industry that is a proven job creator and economic engine for California’s growth.” The rate increase would bring sales tax in Orange County to 9.25%, which would then be tacked on to the already pricey admission to the Happiest Place on Earth, which soared to $69 just this August. While some economists see the tax increase and its new application to things like amusement parks and sporting events as a positive, many retailers are joining Disney in expressing dismay with the news. One way to beat the added cost of going to Disneyland? Go on your birthday--it's free. |
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Verplank
leads Disney with second straight 64 AP - Scott Verplank shot his second straight 8-under 64 Friday to take a three-stroke lead in the Children's Miracle Network Classic at Disney, the final official PGA Tour event of the season. Steve Marino (66) and Troy Matteson (68) were tied for second, but the real drama was at the bottom of the standings. Friday was cut day in the event that ends the race for spots in the top 125 on the final money list, the cutoff for full 2009 PGA Tour. "A guy from the PGA just told me I'm projected at 125," said Brad Adamonis, who birdied the last hole to finish 1 under but missed the cut. "I probably won't look at the standings until the tournament is over. At least that's my plan. I'd probably throw up if I did." Whether he comes in at 125 depends on what happens this weekend with the players behind him who made the cut at 5 under. Bob Tway, who played with Verplank and shot a 62 after a first-round 73, made the cut and needs to finish in the top 12 to make the top 125. Tway, ranked 131st, and Verplank combined for 20 birdies on the Palm Course on Friday. Erik Compton, who's had two heart transplants and got a sponsor exemption, shot a 68 and made the cut by two strokes. He'll play in the second round of Q-school next week, only six months after his second transplant. Tway still holds the course record of 61 at the Lake Buena Vista course, where the tournament was formerly held. Verplank, who sank a 60-foot putt on 14 for an eagle 3, has suddenly found his putting stroke and hinted his round could have been better in what he called perfect playing conditions. "I stayed out too late at the parks last night with my kids, so I was a little lethargic when we started," said Verplank, who has made a tournament-record 13 straight cuts. "My equilibrium was off, and then something happened where I fell into a zone and didn't know where I was." Adamonis played Thursday with his own private gallery — his parents, wife and aunt and uncle. They groaned when he hit his tee shot into the water on 14 and cheered when he birdied 18. David Adamonis, a Miami-area golf coach who has fought prostate, lymphoma, lung and throat cancer the last three years, toted his son's bag the last two holes. "He made mistakes he wouldn't normally make," David Adamonis said. "I told him to just play and what happened, happened. Sometimes self-imposed pressure doesn't help." Some of the players who lose their cards will go back to Q-school. Those who've won tournaments, or have some notoriety, such as 2002 PGA Championship winner Rich Beem, likely will rely on sponsorship exemptions. Mike Allen, who has made it through nine Q-schools, shot a 67 to make the cut at 137. He feels confident about his chances, and with the experience of 13 trips to the final round of the Q-school, he's not easily fazed. "People say a guy can shoot a 63 without even trying, drinking the whole round," Allen said. "Well, let's see him go out and shoot that round when it counts." Allen, whose buddy at Mesa (Ariz.) Country Club placed a sign on his locker proclaiming Allen "the Q-school all-time money winner," said he can relax a bit now that he made the cut. "Otherwise I was toast," said Allen, 49, who can qualify for the Champions Tour in January. "I made the cut, so I have a lot of control over my own destiny right now." Verplank was tied for the two-day tournament record before a bogey on 18. The record of 17 under is held by Chris DiMarco, Carl Petterson and Justin Rose. |
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Friday November 7, 2008 |
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Disney World
rolls out resort promotion 'Imagineering Field Guide' lets Disneyland fans walk in Walt's shoes Disney shares recover after results spark early selling Ride fast and furious at Tokyo Disneyland Why Is Everybody Picking on Disney? Dream theme park weddings Disney’s ‘Caspian’ Blu-ray Offers 360-degree Views Sponsored Black Cabs treat sick kids to Disney trip Susan Lucci on tap for both days of Super Soap, Dancing With the Stars partner Tony Dovoloni also on board |
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Disney World rolls out resort promotionOrlando Business Journal - Those booking hotels and theme park tickets at Walt Disney World will get three free days when they pay for four.
The offer is available for
stays from Jan. 4 to April 4 and from April 19 to June 27.
The offer, which comes amid a worsening international economic downturn, is aimed at increasing traffic at the resorts. When Walt Disney Co. issued its quarterly and annual earnings report this week, it said traffic at its U.S. theme parks — Disney World and Disneyland — is expected to slow in 2009. In addition to the three days of theme park passes and the three nights in Disney hotels, travelers who book the seven-day package for stays beginning Jan. 4 and ending March 29 will receive a $200 Disney gift card. |
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'Imagineering Field Guide' lets Disneyland fans walk in Walt's
shoes
 Los
Angeles Times - The new pocket-sized "Imagineering Field Guide
to Disneyland" answers the question, "What would it be like to
walk through Disneyland with Walt by your side?"
The 128-page paperback takes readers land by land through the Anaheim theme park, offering anecdotes, history and trivia from Disney Imagineers as well as early concept art, sketches and schematics of many rides and attractions. "From a process standpoint, it offers a bit of a peek behind the curtain of how we turn concepts into reality," said Alex Wright, an Imagineer who gathered tales from his co-workers for the book. "In a way, there's no one person who can tell you all these different stories. We have so many different disciplines." To research the book, Wright delved into the extensive Disney archives and toured the park with long-time Imagineers Tony Baxter and Kim Irvine. The hard part, Wright said, was deciding what to leave out. "When it's Disneyland, there's always more to tell," Wright said. "You could have told another 1,000 stories with all the history that's gone on there." The book starts off with a short overview of Imagineering's 140-plus disciplines and insider lingo (Blue Sky, Plussing, Wienie) before diving into a land-by-land tour. Designed to be read in the park, the "field guide" attempts to strike a difficult balance between appealing to first-time Disneyland visitors as well as life-long fans. Leaning more to the fan boy side of the spectrum, I read the book hoping to learn something new. My favorite finds can be broken down into three categories — abandoned concepts, park trivia and odd facts. Among the early concepts:
Among the trivia tidbits:
And the truly odd:
My favorite part of the $9.95 book was a visual explanation of forced perspective, where shorter upper floors create the illusion of taller buildings while maintaining an intimate streetscape. My one criticism of the book — the pocket-sized format reduces the early concept art to business card size. |
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Disney shares recover after results spark early selling MarketWatch - While they plunged more than 8% shortly after the open, shares of Disney turned higher as the session progressed. The shares swung to a gain of 5%, to $23.97, in afternoon trading.
The earnings report caused many
analysts to adjust their estimates for a company that has
seemed largely immune to troubles that other firms were
experiencing in the face of a crumbling economy.
S&P analyst Tuna Amobi cut his
rating on Disney to "hold" from "strong buy" after the
earnings report was released late Thursday, slashing his
price target by $7, to $25.
"In a sobering near-term
outlook, Disney sees further sharp deterioration in park
bookings and ABC/ESPN ads, while halting share buybacks,"
Amobi wrote in a morning note to clients.
Other analysts noted, however,
that it was Disney's first earnings shortfall to come along
in some time.
Doug Mitchelson of Deutsche
Bank maintained a buy rating on Disney, noting that recent
weakness in the stock seems to have been the result of
bracing for the day when recession-like conditions would hit
Disney.
"Unlike some peers, Disney's
challenges are predominately cyclical, not secular,"
Mitchelson wrote in his note. "Currency risk is fully
hedged. Its brands remain strong and growing, and barriers
to entry in its businesses are very high."
The Burbank, Calif.-based
entertainment conglomerate reported that it earned $760
million, or 40 cents a share, in the fourth quarter ended
Sept. 27, compared with a profit of $877 million, or 44
cents a share, in the final three months of fiscal 2007.
Revenue rose 6% to $9.45 billion, on improved results
generated by the company's cable networks and theme parks.
Disney said quarterly profit
fell due to a $91 million bad-debt charge on a payment it
was due from Lehman Brothers as well as a combination of
higher expenses and less successful films at its
studio-entertainment division. Financial-services firm
Lehman went bankrupt in September, helping to trigger a
global financial meltdown.
Disney said that excluding the
charge and other special items, it would have earned 43
cents a share in the latest three months. Analysts polled by
FactSet Research had expected the company to report a
fourth-quarter profit of 49 cents a share on sales of $9.31
billion.
Parks, resort bookings down
Chief Executive Bob Iger told
analysts that the company is seeing consumer confidence at
its lowest in more than three decades due to the dismal
state of the economy, which he could curtail consumer
spending during the holiday season in 2008 and "almost
certainly" will during calendar 2009.
Bookings at the company's theme
parks and resorts during the last month "have fallen off
considerably," Iger said during a conference call.
He added that consumers are
being "very careful about what they spend" and could be
waiting to see if discounts become available.
Iger emphasized that the
company's exposure to local television advertising, one of
the areas of biggest turmoil during the current crisis, is
"limited," as Disney owns only 10 TV stations.
"This is a team that manages
through good times and really tough times -- particularly in
the 2001 period," Iger said. "So not only have we gone
through this before, but we've gotten better at it,
particularly in parks and resorts."
The company's media networks
division, which includes its broadcast and cable-TV
networks, saw quarterly revenue increase 4% to $4.2 billion.
Cable networks revenue jumped
5% to $2.93 billion on greater ad sales and rates at ESPN,
as well as higher fees paid by cable and satellite
operators. The unit was also once again lifted by strong DVD
sales of "High School Musical 2" and increased fees paid by
cable and satellite operators for carrying the Disney
Channel.
Revenue at the company's ABC
network and television stations rose 4% to $1.29 billion,
but the segment posted an operating loss of $150 million on
decreased advertising sales at both the network and the
local stations. Expenses also increased at ABC, reflecting
costs related to coverage of the presidential election and
late decisions on which new shows would be picked up for the
season.
Studio operations revenue fell
5% to $1.45 billion, reflecting weaker performance of movies
during the latest three months and higher marketing expenses
for releases including "Beverly Hills Chihuahua."
Theme parks and resorts revenue
rose 7% to $3 billion in the September quarter, but
operating income fell 4% on a decrease in domestic
operations, partially offset by improved results at
Disneyland Resort Paris.
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Ride
fast and furious at Tokyo Disneyland
 Asia
One Travel - At DisneySea, head to the Lost River Delta and
go crazy on rides like the Indiana Jones Adventure: Temple
Of The Crystal Skull and Raging Spirits, a roller-coaster
ride with a 360-degree loop.At the Arabian Coast, themed after the Disney animated film Aladdin, try the Caravan Carousel, a double-decker carousel that holds up to 190 people. The Mermaid Lagoon and American
Waterfront are also must-sees for their fanciful designs. |
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Why Is Everybody
Picking on Disney? Motley Fool - is doing better than you think. Sure, shares of the family entertainment giant have fallen by 35% since peaking in May. The first wave of headlines about its fiscal fourth-quarter report also haven't been kind.
Now, if I can just borrow Mickey Mouse from the media firing squad for a moment, I want to point out that the report released Thursday night was actually pretty respectable. Blindfold off, Mickey. Now run! Did Disney's net slip? Sure. Posted earnings of $0.40 a share for the quarter did clock in well below last year's $0.44 a share. However, once you back out a $91 million bad-debt charge related to its unfortunate receivable from Lehman Brothers, and a favorable tax resolution from last year's quarter, earnings on a per-share basis actually rose from $0.42 to $0.43. Are the theme parks suffering? That's debatable. The company's parks and resorts division posted a 7% increase in revenue. Operating income did drop 4%, but that's the result of higher labor costs and the spike in fuel costs at its cruise line (which have since retreated dramatically). I'm not suggesting that everything is zip-a-dee-doo-dah-riffic at Disney. Even on an adjusted basis, this is the first time that Disney has missed analyst estimates since CEO Bob Iger took over. However, where is the love for the dependable ESPN and Disney Channel cable revenue, which is helping soften the blow of lower ad revenue at ABC? Where is the euphoric applause for the boost in Disney's consumer-product division from the popularity of Hannah Montana and High School Musical merchandise? These aren't banner times in the media industry. News Corp. (NYSE: NWS) shares were slammed this week after the company talked down its guidance. CBS (NYSE: CBS) shares fell on the week, even after increasing initially when the company reassured investors that it would keep its beefy dividend. Others, like Time Warner (NYSE: TWX) and Viacom (NYSE: VIA), are holding up with their steady cable properties, but also feeling the sting of the fading advertising market. So hang in there, Mickey. Keep dodging the premature firing squad. Things aren't great, and they won't get any better in the near term. However, the haircuts on the share prices in the sector are wildly disproportionate to the slip in fundamentals. Recession or worse, entertainment still matters. |
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Dream theme park weddings
TTG Live - Theme parks offer a perfect solution for couples looking to add a little fairy dust to their nuptials with a totally one-off experience.  Disney Resorts has long offered special wedding and engagement packages at Walt Disney World in Florida; but it also offers similar romantic packages at Disneyland in California, although these are not sold by the main UK wedding operators. Theme park weddings tend to appeal to couples who are younger or have children and they can cater admirably for such family occasions. However, the vast choice of overseas wedding destinations means demand is not that high, particularly as they tend to cost more than the alternatives. "In our experience, couples tend to go more for New York or the West Coast; most of the bookings we get for Disney weddings tend to be direct," said Kuoni specialist sales manager Sophie Parker. However, Thomas Cook long-haul product manager Michael Thurston felt that the popularity of ceremonies at Disney's Florida park had been fuelled by the strength of the pound against the dollar in recent years, while Jo Dewhurst, Cosmos Dream Weddings co-ordinator, said Disney that weddings tended to appeal to couples who knew the Disney theme parks well. Virgin Holidays product co-ordinator Carla Reed said there is an average spend of between £2,000 and £3,000 on the operator's Disney wedding packages. Walt Disney World Walt Disney World stands way above the other parks when it comes to the scope and scale of packages available for weddings and vow renewals. Couples can choose from a variety of locations, from the Italian village inside Epcot to outside Cinderella's Castle. The bride can arrive in style in Cinderella's carriage and Mickey and Minnie can even be special guests – although this option tends to be much less popular with British couples than with Americans. Couples can also marry on one of the Disney Cruise Line ships. Sample prices www.disneyweddings.go.com Virgin Holidays offers a Disney Deluxe Escape Package from £2,489 per couple. Cosmos offers a Disney Premium Escape wedding package for £2,395 per couple. Kuoni offers a Disney Deluxe Intimate Wedding package for £1,788 per couple. Universal Orlando The Florida park does not offer wedding or honeymoon packages, but couples can marry at its three on-site hotels – the Loews Portofino Bay, Royal Pacific or Hard Rock, which treats couples like "rock stars." www.universalorlando.com Futuroscope This French theme park arranges private ceremonies, with photos taken in the park and receptions in one of the on-site restaurants where entertainment can be arranged. Depending on the restaurant chosen and the number of guests, costs will vary, but the last wedding came to more than €20,000. It holds only around one or two weddings a year and, to date, no British couples have married there. www.futuroscope.com Discovery Cove Famous for giving visitors the chance to swim with dolphins and interact with other sea creatures, this Florida park arranges vow renewals on request. It is also planning to launch special wedding packages, but plans are in the early stages. www.discoverycove.com |
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Disney’s ‘Caspian’ Blu-ray Offers 360-degree Views Home Media Magazine - It’s a Disney idea that goes back to the 1950s, and an attraction where Disneyland visitors got 360-degree visual tours of several countries. Images recorded on nine cameras were displayed on nine screens in a circle, taking viewers through images of China, Canada and, of course, America. Now, Circle-Vision has been adapted to the Blu-ray Disc format, premiering on the Dec. 2 releases of The Chronicles of Narnia: Prince Caspian. With a full-time DVD and Blu-ray crew using a 360-degree high-def camera on the sets of the film, the castle raid portion of the film is broken down in a dozen ways, with every scene offering commentaries from different people, animatics, pop-up facts, behind-the-scenes musings, slide shows and more. “It’s totally unique to the Blu-ray format,” said Andy Siditsky, SVP of worldwide creative services and DVD production for Disney. “You’re actually on the set.” BD Live network exclusives and an interactive game are also included on the two-disc Blu-ray, with three-disc Blu-ray offerings including a digital copy of the film. The bare-bones DVD has a commentary, while a collector’s edition (and the Blu-rays) include bloopers, several featurettes and deleted scenes. “Today (Nov. 6) was my first experience with [Blu-ray],” said actor Ben Barnes (Prince Caspian). “They’ve been very imaginative in how they include all they can in there. There are a lot of unsung heroes in a movie like this, and it’s nice to [show viewers] … how all the cogs work.” He said Blu-ray and DVD bonus features can often be more important than the film to viewers, and BD Live and high-def video are great upgrades. “The sound’s incredible, but the lighting is … what it picks up,” said actor William Mosley (Peter Pevensie). “It’s really interactive, you can find interviews with [everyone]. You can find how we shot every scene. You get so much more out of the movie.” He’s hoping Walt Disney Studios Home Entertainment remembers to send him a copy when they’re available. “Just in time for Oscar consideration,” said Howard Berger of K.N.B. – EFX Studio about the Caspian releases. He said the creature creations his crew did for Prince Caspian stand up well under the 1080p glare of Blu-ray. “It scares you a little bit, the resolution people can see now,” he said, adding that lighting crews and cinematographers can help keep everything looking real. “We still have a lot of perfecting to do to complete what Blu-ray and high-definition can do.” |
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Sponsored Black Cabs treat sick kids to Disney trip
 London
Turkish Gazette - Around 100 Black taxi-cabs, including 10
sponsored by a Turkish firm, took a number of children with
life-threatening illnesses to Disneyland Paris recently for
three day treat of a lifetime.
Universal Claims and proprietor of the company Serdar Sari were proud to sponsor 10 of their cabs for the trip for sick youngsters last month, called the Magical Taxi Tour. Mr Sari said "We are proud to have been involved with this project and our `Black cabs were at the forefront of the convoy to Paris. To be able to help give these sick children a mini-holiday to remember is very special." Setting out from Canary Wharf, the fleet of taxis made their way to Disneyland Paris where the children enjoyed fun and festivities at the theme park. The trip was completely sponsored with all expenses paid by companies. It was the 15th year the event has taken place which give children with a range of chronic debilitating illnesses and life limiting conditions the chance to enjoy a week-end away from hospitals. |
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Susan Lucci on tap for both days of Super Soap, Dancing With the
Stars partner Tony Dovoloni also on board Theme Park Rangers - Susan Lucci's ouster from ABC's Dancing With the Stars this week does indeed mean that she will be attending both days of Super Soap Weekend at Disney's Hollywood Studios Nov. 15 and 16, Walt Disney World officials confirm. As a bonus, Lucci, longtime star of ABC's All My Children, is scheduled to dance -- with her DWTS partner Tony Dovoloni -- for the fans after her Saturday noontime motorcade. She's nothing if not a trouper. It's also the last dance for the event. The company announced earlier this year that there would be no Super Soap Weekend at the park in 2009. |
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Thursday November 6, 2008 |
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Disney Posts Earnings of 40 Cents, Missing Estimates Disney by Design Avoiding bummers at the 'happiest place on Earth' The Gift of Disney Books 'Live with Regis and Kelly' Announces New Holiday-Themed Travel Trivia Can Disney Earnings Escape Traps of Big Media? Rebranded Disney network rocking with "Band" The Disney Magic Downtown Disney store to close Jet Airways launches 'World Of Wonders' an in-flight festival for its young passengers A Tussle Over Tinker Bell Former Disney Employee Sentenced For Infant Porn |
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Disney Posts Earnings of 40 Cents, Missing
Estimates CNBC - Walt Disney reporting earnings of 40 cents a share for the third quarter, missing analyst estimates as the entertainment giant was hurt by the struggling economy, lower box office returns and a loss associated with Lehman Brothers. The company's earnings were four cents below the same quarter a year ago and below expectations of 46 cents per share. The company said it realized a net benefit of 33 cents per share on the sale of E! Entertainment and Us Weekly and the shuttering of it ABC Radio business. Also, Disney realized a net of one cent per share due to an accounting benefit from the acquisition of Disney stores in North America, the sale of movies.com, resolution of tax matters and a fourth-quarter bad debt charge for a receivable from Lehman Brothers. Excluding the bad debt charge and the resolution of favorable tax matters in the same quarter in 2007, earnings were 43 cents a share compared to 42 cents the year before. "I'm pleased by Disney's strong performance in fiscal year 2008, especially in light of the challenging economic environment," CEO Robert A. Iger said. "This is clearly a difficult and unpredictable time and while our businesses aren't immune, the strength of our assets, brands and management team positions us well for the long term." |
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Disney by Design New York Times - The most expensive piece of clothing sold by the Walt Disney Company six years ago was a $75 sweatshirt embossed with a mug shot of Mickey Mouse. By Magic Kingdom decree, home furnishings were required to exhibit at least one Disney character, leading to children’s play rugs ($65, in Pluto) and nightlights ($9.95, in Winnie the Pooh).
Welcome to Disney, the “lifestyle brand.” Shoppers may be surprised to learn that these pricey and Mickey-free products are from the same company that foisted “Hannah Montana” on the world and turned singing Chihuahuas into a cultural touchstone. While some of the items have recognizable characters on them, others contain only winks and nods to the company’s animated movies and theme park rides. And sometimes the only hint of Disney’s involvement is on the label. Lindsay Bern, a makeup artist for Smashbox Cosmetics, was so delighted with a lavender and silver tote bag that she received as a gift from a friend that she started using it immediately. Then, while on an airplane, a flight attendant commented on her “Alice in Wonderland” bag. “I thought she was crazy until I started looking at it more closely, and, sure enough, there was a subtle Alice hiding in the design,” Ms. Bern said. The Disney brand, of course, is one of the most powerful in the world. It connotes quality and creativity, but also carries a strong whiff of mass culture — which can turn the noses of fashionistas skyward. It is difficult for many upscale customers and boutiques to take Disney seriously. Of her bag, Ms. Bern said, “I’ll admit it: I liked it better when I didn’t know it was from Disney.” But Disney has been working hard to improve its image. Starting in 2002, the company tiptoed into high-end retail, seeking out partnerships with designers like Paul Smith, Vivienne Tam and Dolce & Gabbana, who created a $1,400 sequined Mickey Mouse T-shirt. Andy Mooney, chairman of Disney Consumer Products, thought that a smattering of designer clothes featuring Disney characters in fresh ways would gain the attention of fashion-forward shoppers. The goal was to stretch the brand a bit while adding buzz. Now Mr. Mooney is going further, asking people to think of Disney as a brand of luxury clothing, expensive home furnishings and hip jewelry. Lest anyone be confused, the company has created labels to differentiate the new merchandise from what it sells at Disney Stores and theme parks. The “upscale, high-glam” Disney Couture is primarily for women, while guys have Bloc28, a name that refers to Mickey Mouse’s debut in 1928. The labels, featured in fashion magazines like Vogue and worn by celebrities like Rihanna, are sold only in boutiques and in department stores like Bloomingdale’s and Neiman Marcus. From a business perspective, the full-speed push into “noncharacter products” like dining tables and executive fountain pens is a crucial way for Disney to expand its consumer products unit, which is better known for pumping out Power Rangers pajamas and Daisy Duck key chains. Disney says that sales of its home and lifestyle products will total about $85 million in the next 12 months, making up one percent of the consumer unit’s revenue. Within five years, the company projects the category will deliver $500 million in sales a year. It is an ambitious plan for a company whose idea of fashion for decades was to attach plastic mouse ears to a beanie. Analysts who follow Disney said the company’s strategy is smart, though the recent downturn in consumer spending may make it difficult to meet those aggressive sales goals, and some consumers have noticed a similarity between Disney Couture and Juicy Couture. Over time, consumers from all quarters are likely to grow familiar with the new designs. In one deal that has yet to be announced, Wal-Mart has hired Disney to take over its children’s bedding department this spring. Disney will supply its normal range of “Cars” pillowcases and “Cinderella” sheets, but it will also create four lines of bedding that include no images of Disney characters. In September, Disney introduced a collection of patio furniture in partnership with Agio. Starting in the spring, consumers will be able to decorate their backyards with outdoor dining sets from the Animal Kingdom Collection. Or they can opt for a martini bar and swivel bar stools from the Grand Floridian Collection — a respite, perhaps, for parents after one too many viewings of “Toy Story 2” on DVD.
Coming soon: Disney dresses from the Los Angeles designer Sue Wong; they will play off the colors in “Fantasia” “This is more about feeling the Disney characters than seeing their image,” said Kidada Jones, the former Tommy Hilfiger model (and daughter of Quincy Jones), who teamed with Disney to produce a line of jewelry and accessories. One of Ms. Jones’s top sellers is a $143 bracelet made from braided turquoise leather and marketed as an “Alice in Wonderland”-inspired design. The gold-plated charms that dangle from it are references to the story: a pocket watch, hearts, signs that say “Eat Me” and “Drink Me.”Donna Sheridan, vice president and general manager of Disney Consumer Products, said the company wants people to think of Disney as more of a J. Crew than a family fun factory. “I want to have pieces that adults, designers and tastemakers can all wear and put into their homes.” The sense that Disney’s new fashions could blend with a woman’s everyday wardrobe is what sold Bloomingdale’s on them. “We were interested because none of these pieces look like tourist items,” said Denise Ramirez, a divisional merchandise manager at Bloomingdale’s in New York City. “They are clothes you would wear, not something you pick up at a theme park because it’s cute for the day.” Paul Devine, an interior designer based in Pasadena, Calif., said he was surprised by Disney’s furniture line, which is produced with Drexel Heritage. The collection started with 12 pieces in 2006 and quickly expanded to 50 the following spring. “I’m a stickler for quality, and I had reservations that this would be up to my standards,” Mr. Devine said. After much scrutiny, he decided to add a few Disney furniture items to a home he was designing in Palm Springs, Calif., and he has been a customer ever since. “There’s even some sex appeal at work there,” he said. As the company presses forward, it is encountering competition from inside the movie capital. Warner Brothers, also chasing the brand halo that can come from partnerships with top-notch designers, just landed a deal with Diane von Furstenberg. Warner, home to Looney Tunes and DC Comics, teamed with Ms. von Furstenberg on a series of $695 ready-to-wear dresses inspired by Wonder Woman. To attract artists and designers, Disney has played much looser with its characters than ever, a move that has been controversial within the company. A T-shirt sold at Fred Segal Fun in Santa Monica, Calif., showed Mickey Mouse looking like a pimp, with a gold-studded chain and a fedora. An upcoming jewelry offering from Disney’s fashion collection for young men is a ring that depicts a rabid-looking Mickey Mouse with freakish long fangs. Pam Lifford, executive vice president of Disney Consumer Products, defended the provocative images. “We take it to the edge but keep it controlled and maintained,” she said. “Allowing designers and artists the freedom to take our creative assets and explore, within reason, is the only way we can attract the right talent.” Designers say they have been impressed with the willingness of the famously guarded company to take chances. Charlotte Tarantola, a Los Angeles designer, said she decided to do a limited collection based on “Snow White and the Seven Dwarfs” in part because Disney allowed her to explore “the darker, very adult side of the fairy tale.” As the proprietor of a small company, Ms. Tarantola was eager to piggyback on the Disney name. “Anyone who is alive today has been touched by Disney in some way. If becoming partners with them can help my business, far out.” |
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Avoiding bummers at the 'happiest place on Earth'
The Salt Lake Tribune - The long awaited trip to Disneyland so many years ago was supposed to be special. The family saved for years for a dream vacation to the land of Mickey Mouse but the reality turned into a major disappointment. The park was so crowded the family spent all day waiting in winding lines and managed to get on only five or six rides, a fact that Birmingham, Ala., author Bob Sehlinger, who made that trip, called "annoying beyond description." After he returned home, Sehlinger decided to use his background in operations and research to see if he could collect visitor data and work out models to help families visiting Disneyland to avoid the pitfalls that ruined his dream vacation. The result was a book called "The Unofficial Guide to Disneyland," an effort that spawned many other similar titles on popular destinations. After recently taking two of my grandsons to Disneyland on a weekday during the second week of September where we were able to walk on to most rides and only the submarine ride had a lengthy line, I wondered if we had picked an optimal time of year to visit the happiest place on earth. It turned out we had. "Avoid the summer and holiday periods," recommended Sehlinger, who said the advice works for both Disneyland and Disney World in Florida. "The lowest crowds of the year can be found during the period between Thanksgiving and the Christmas holiday and November leading up to Thanksgiving." Other good times to visit are February, March and April before southern California schools begin having Disneyland days in the spring, "Determine the best time by following the school calendar," said Sehlinger. "If school is out or there is a major holiday, it will be crowded. Since Disneyland is southern California's own theme park, there will be an off period more on weekends than on weekdays." Gerdi Scheffler, of Salt Lake City-based Great Basin Travel, tells her clients to avoid visiting Disneyland in summer if at all possible. Holiday periods such as Christmas or any three-day weekend are particularly bad. She also recommended checking the Anaheim Orange County Visitors and Convention Bureau to see if any major conventions are in town that could draw large crowds to the park. "The second half of September and the month of October except during the UEA (Utah Education Association) holiday is a great time to go," said Scheffler. "The weather is obviously nice. I would think the last part of April and first 10 days in May were times I would pick to go and there is also the end of January but the weather might be questionable. Spring break is horrendous." The downside of visiting the park during a slow period is that hours are shorter and some major attractions are closed for renovation or in preparation for an upcoming holiday. For example, in September, the Haunted House was dark as workers readied it for Halloween celebrations and Small World was closed for a major renovation. Small World, which will open in a few weeks for a Christmas show, was closed for much of this year. It will be dark for most of January and then open with a revised and newly improved display. Disneyland spokesman John McClintock said the busiest seasons at the park are between Christmas and New Years and when school is out in July and August. Weekdays after Thanksgiving and before Christmas are an ideal time to visit, especially since all the Christmas decorations and entertainment are up and running. Also, in order to cut down on staffing, some major rides do not operate with all the trains or cars running when the park is not crowded. McClintock said January and February are usually good months to visit, though the park does offer special discounts to southern California residents that can bring some crowds. Sehlinger said picking a day of the week to visit is tricky, largely because Disney offers early entry programs some days to those staying at its hotel properties. He said travelers with flexibility who aren't staying at a hotel with those privileges should avoid those "morning magic" days. "People at Disney understand that when the park is crowded, it is not good for first time visitors," said Sehlinger. "So they lay out more live events like concerts and parades during the holiday period. Because Disneyland is comparatively small compared to Disney World, you feel the impact of the crowds." The bottom line is that to enjoy your happiest day at the place that bills itself as the happiest place on earth, do some research and avoid holidays and summer months if possible. |
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The Gift of Disney Books Disney Insider - With the holidays approaching, the eternal question always rears its head — what to give? Something that won't provoke allergies, be hard to wrap, spoil, break anyone's special diet, or clash with the décor? A gift that won't be outgrown, outmoded, or broken by the time the next holiday season comes around? A gift that brings hours of enjoyment — no batteries required!  For
many givers, the answer is to choose a classic — the gift of
reading. And if your gift list includes Disney lovers, young or
old, there's a Disney book that's right for each of them. Here
are some of our top recommendations for truly giftable Disney
books.DISNEY FANS If the grown-ups you love appreciate Disney, there's an embarrassment of riches from which to choose. The Alchemy of Animation Newly published (so you know they probably don't have it yet!) this lavish coffee-table volume is a step-by-step introduction to animated filmmaking from one of the foremost producers of animated features, Don Hahn. Walt Disney Animation Studios The Archive Series: Story Rare and never-before-seen artwork found in the Disney archives fills the pages of this abundantly illustrated book (the first in a series). With an introduction by John Lasseter, this will be the must-have art book for collectors, artists, and Disney fans. Disney Lost and Found A glorious first look at visual development art for never-released Disney animation. The visual development art contained within the book has never been seen by the public! BELIEVERS IN FAIRIES That special little (or big!) girl will adore anything to do with the magical winged beings — like: Tinkering Tink Gorgeous, rich embossing enhances this sweet story, sure to charm the pixie dust out of parents and little fairies fans alike. TWEENS It's all about the music for many kids this age — here are two standout choices for young fans. Burning Up: On Tour with the Jonas Brothers Here's your backstage pass to life with Kevin, Joe, and Nick Jonas. Fans get a behind-the-scenes look at the band warming up, performing, and goofing off backstage, as well as their downtime. And all of the amazing photos are accompanied by a candid narrative by the Jonas Brothers themselves. Backstage Pass Readers will find out what it's like to "live the life" with this exclusive, all-access look into Hannah Montana's rockin' world! This behind-the-scenes glimpse of the pop star's life includes ten interactive elements, including a removable backstage pass, a fashion wheel, and a guitar pick. VACATION PLANNERS Help them plan a 2009 experience to remember for a lifetime — from Disney Theme Parks to the South Pacific. Birnbaum 2009 The newest, updated-for-2009 releases of Birnbaum's Disney Guides include: Birnbaum's Disney Cruise Line 2009, Birnbaum's Disneyland Resort 2009, Birnbaum's Walt Disney World 2009, Birnbaum's Walt Disney World Dining Guide 2009, Birnbaum's Walt Disney World for Kids 2009, Birnbaum's Walt Disney World Without Kids 2009. Birnbaum's Walt Disney World 2009 Pocket Parks Guide This brand-new, ultraportable Birnbaum guide can be taken along to the Parks for on-the-spot reference. The Imagineering Field Guide to Disneyland Visit Disneyland with the knowledge of a Disney Imagineer at your fingertips! This detailed guide leads you into nooks and crannies you might not otherwise discover, and tells you about all those little things that make such a big difference. What the Sea Teaches Us: The Crew of the Morning Light Follow the trials and triumphs of one of the youngest crews ever to compete in the Transpacific Yacht Race, mentored by passionate sailor Roy Disney! Award-winning nautical photographer Sharon Green contributed her breathtaking photographs to the book, which contains over 200 stunning images. Whatever you choose, we hope your holiday season is joyous and your gifts are received from the heart. |
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'Live with Regis and Kelly' Announces New Holiday-Themed Travel
Trivia PRNewswire - Popular morning talk show "Live with Regis and Kelly" is partnering with T-Mobile USA to bring families closer by sharing their holiday photos live on television -- and at the same time giving them the chance to win exciting vacations and the hottest new mobile phones. "Live's Holiday Snapshot Travel Trivia" is a brand-new concept for "Live's" daily trivia game. Beginning on November 6, 2008, viewers can enter by simply sending in their favorite holiday family photocards or snapshots, either by uploading them online to liveregisandkelly.com, or via mail. And from November 17 through January 2, 2009, each day's trivia contestant will have their photo featured on "Live," and will be called and asked to answer a trivia question about a previous show. If they answer the trivia question correctly, they'll be on their way to one of several fantastic vacation destinations. Contestants also could win either of T-Mobile's new cutting edge mobile phones, the T-Mobile G1 with Google or the MOTOZINE(TM) ZN5, plus one full year of complimentary service. And everyone who enters "Live's Holiday Snapshot Travel Trivia" will automatically be entered to win the "Fly with T-Mobile Family Vacation," an all-expense paid trip for up-to six people to one of more than 100 U.S. destinations. "We're always on the lookout for creative ways to involve our audience with the show, and we think this new holiday edition of 'Travel Trivia' is going to be a hit," noted Michael Gelman, Executive Producer, "Live with Regis and Kelly." "Featuring the holiday photo of each contestant and their family as they play the trivia game adds a new interactive twist to the segment, and the addition of T-Mobile's latest and greatest mobile phones also makes for an exciting new prize element." Full contest rules and details are available at liveregisandkelly.com. "Live with Regis and Kelly" is executive produced by Michael Gelman, and is distributed by Disney-ABC Domestic Television. Produced by WABC-TV in New York, "Live with Regis and Kelly" airs every weekday morning in more than 200 markets across the country. For more information on T-Mobile products and services, visit http://www.t-mobile.com. |
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Can
Disney Earnings Escape Traps of Big Media? 24/7 Wall St. - The Walt Disney Co. (NYSE: DIS) is set to report earnings right at the close of trading today. The Thomson Reuters (First Call) estimates for the media giant and DJIA component are $0.49 EPS and $9.34 billion for this last Q4 period. Estimates for next quarter (fiscal Q1-2009)are $0.59 EPS and $10.53 billion in revenues. Unfortunately, there are many other issues to consider here than the past quarterly earnings report today. We have seen earnings from Time Warner Inc. (NYSE: TWX) and News Corp. (NYSE: NWS) just yesterday. Neither were greeted with cheers. Time Warner stock fell over 6% yesterday and shares are down another 3% today. The soft earnings and the weak guidance because of television and advertising revenues coming down sharply has News Corp. stock down 16% at $8.30. Amazingly enough, that is not actually a 52-week low. Sumner Redstone's CBS Corp. (NYSE: CBS) has also been under severe pressure as shares have lost roughly one-quarter of their value since last month before media earnings hit and before Redstone "mistakenly" was forced to sell shares. Shares are down 40% from October 1. The issue at hand is that Disney has been the best and most insulated of all the media companies. The fact that shares are "only" down about 33% from their highs is a serious win in this crummy recessionary environment. What we want you to brace for is this: NO ONE IS IMMUNE! NO ONE! Analysts have only taken down their earnings estimates from $0.51 to $0.49 EPS over the last 30 days or so. More importantly, estimates for the December quarter have only come down by $0.01 to $0.59 EPS. We really do not know what cloud these analysts have their head in, and we think they may have their head stuck up somewhere else besides the clouds. Disney has ABC, ESPN, Disney, Club Penguin, and many other iconic brands which have tentacles in old media, virtual media, new media, and physical presence entertainment. It will make it through this environment. But in no way is it immune. This stock has lost roughly 20% since October 1. But it has held up much better than peers. If you have to own a single media stock, the Mouse House and Hannah Montana owner will be the one you want to own. But the question looms: WHEN? Things are very bad in the economy. Unless a giant rapid direct stimulus check round 2 package comes from Uncle Sam in time for Christmas, then you can count on the Christmas season number one gift being lumps of coal. Things are so bad for the consumer that we'd even propose that Hannukah be taken down to eight days from four days this year to take the pressure off the consumer. Unless our data figures managed to not get updated, the analyst numbers just seem way too high. The revenue estimates would mean that the Mouse House grew revenues from 2007 calendar levels by $401 million in the last quarter and would still post growth of almost $100 million for the coming quarter. Those are not ridiculous numbers, but there is one other agent that will have worked out grossly different for Mickey and friends: the greenback. The US dollar strength means that the company will have earned less net monies from its overseas operations this last quarter as a given, and it will impact the Christmas quarter as well. How many advertisers have brought down their spending? From the looks of it, almost all of them. How many families can take their kids to Disneyland or on a Disney Cruise compared to last year? We will not know that answer until after the earnings, but that number has to be far fewer than before. From the looks of options prices today, it seems that options traders are only bracing for a move of about $1.10 to $1.30 in either direction. With such a High VIX and with the markets this volatile, we won't be shocked if the reaction in either direction is much more than this. The 50-day and 200-day moving averages are far enough north of today's stock price that there is no long-term read here. In the short-term, Disney shares have used $26.00 as resistance and $22.00 as support. The 52-week trading range is $21.25 to $35.02. So far we have only shown you the bad things in the economy which will be acting against Disney. But there actually some great things here at Disney which we'd be silly to not recognize. If the earnings estimates are attainable then the P/E ratio is actually under 10.0. That does not happen very often. The stock market has been hit so hard even after the recent pre-election bounce that much of this bad news and weak economic expectation has to be factored in. Over the last 5-year period we have not ever seen this stock sell off by such a large percentage in such a short period. Over the time a 20% pullback gave you a gift entry point where your share gains could have been 30% to 50% depending upon your holding times. This company is an earnings powerhouse with brand-leader status in many categories. Its clients are aged 0 to 90 and the income range of its clients is from the poor all the way up to the three-comma net worth crowd. So there are good things at work here. So here are our "hopes" for today. Hopefully we are just being way too pessimistic and hopefully this company is more defensive than others. Hopefully the drop seen in the shares and the low P/E already reflects this. Hopefully our data we have seen on the lack of analysts cutting estimates just has not been updated at the source. Hopefully the "efficient market theory" prevails to the point that the market already factors in good news and bad news for known events ahead of time. Hopefully the firings on Main Street and the crummy jobs numbers won't be as bad as we expect. Hopefully the much lower oil prices means that it isn't out of the norm for a family to drive 200 miles to theme parks for the weekend. Hopefully ad monies for sports haven't come down as much as they have for other media. Hopefully consumer credit will come up, and hopefully we'll see another round of free money checks go out from Uncle Sam to Joe public for consumer spending in time for Christmas. The problem here with all of these hopes is that history has shown "hope" is one crummy investment strategy. |
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Rebranded Disney network rocking with "Band"
Reuters - Disney XD, the network that will launch in February following the rebranding of Toon Disney, is developing a live-action pilot about a rock band. The project, titled "I'm With the Band," centers on a tween boy who gets hired as the lead guitarist for a Spinal Tap-type band that was popular in the '80s and is looking to make a comeback. It was created by Michael Kaplan ("Frasier") and Ron Rappaport (MTV's "Next"). Disney said in August that it will rebrand its U.S.-based Toon Disney TV and online platforms as Disney XD, featuring a mix of live-action and animated programming targeted primarily to boys 6-14. Inaugural programming will include the live-action series "Aaron Stone." |
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The Disney Magic Business Standard - Lee Cockerell, who rose from a humble background to become the executive vice-president of operations at Walt Disney, is an emphatic proponent of leadership virtues. He narrates here the secrets behind the global success of the Disney enterprise, with people from all over the world partaking in the joy of entertainment resorts, theme parks, cruise lines etc. Cockerell grew up on farm in Oklahoma. He recounts fondly how he used to milk cows and then haul the milk across the neighborhood in return for 50 cents and some peaches from a kind couple. This, he says, instilled in him a solid work ethic. Later he moved to Washington and worked as a banquet waiter at the Hilton. This was his first real job and he attributes learning the importance of diversity to the time spent there—he had co-workers from all over the world. In 1970, he became the personal assistant to Eugene Scanlon, the food and beverage controller at the Waldorf Astoria in New York. Scanlon made him attend countless banquets and paid for several rounds of wine tasting to enable Cockerell to see the importance of good service. Each of such tiny lessons, he says, stands him in good stead to this day. Cockerell also relates incidents when he was directly confrontational with junior members of the staff, and surprisingly, for which he suffered physical injuries at times (one humiliated waiter smashed a Budweiser bottle into his face). However, it is his attitude that stands out. Rather than nurse grudges, Cockerell chose to learn, and committed himself to treating all his employees, irrespective of rank, with respect. More importantly, he started searching for solutions to his workplace crises, and discovered that nearly each of them could be traced to a leadership failure on his part. He realized that “great leaders always focus on others, not on themselves. They hire the right people, train them, trust them, respect them, listen to them, and make sure to be there for them when needed.” At Disney, Cockerell incorporated the principles that he enumerates in this book. One of his prime strategies is the concept of equality. He stresses on the importance of every job in the office hierarchy. In this regard, he does well to cite an early job as the grease man at a Nevada restaurant. It involved pushing a little cart around the kitchens and emptying grease from the griddles. He was, of course, treated with disdain, or just plain indifference, as though he didn’t exist. Only he seemed to appreciate how crucial keeping the griddles grease-free was to the running of the kitchen, and in turn, the restaurant. This lesson stayed with Cockerell. As he rose to become an executive vice-president at Disney, he came to propagate the notion that everyone, from the cleaning staff to the ticket seller, had an equal role in the Disney success story. Towards this goal, he put in place a nomenclature system under which all Disney employees were called “cast members”. Laundry, for instance, was handled by “textile services”. In a world bustling with brands, Cockerell is of the view that people are the real face of an organization’s success. If you don’t have good people, he says, no amount of PR, marketing, branding will make up for it. Successful organizations know this and nourish their human resources. He suggests a variety of ways to bring this about, one of which is training. Training employees vigorously and purposefully inspires them to reach excellence in their work, which in turn, optimizes the organization’s profitability. Another is appreciation. Cockerell reminisces how, during a visit to the house of a senior employee, he came across a letter of appreciation he had written him, “handsomely framed and hanging in a prominent place in the foyer.” Battling embarrassment and curiosity, Cockerell was nonetheless genuinely moved. Cockerell’s strategizing also touches upon an organization’s structure, which, he says, is as important as the structure of a building. He believes that structure isn’t a constant, rather it is a fluid entity which is modified regularly. This is especially relevant in today’s times, when advancements in technology are redefining work spaces. This is a direct upshot of his view that delegating authority is an important step towards accountability, since authority is a cornerstone in the exercising of responsibility. Cockerell finishes the book with some deft self-promotion, giving out the details of programs conducted at the Disney Institute, a management training centre in Florida. A book can only take you so far, he says, attend the program for full benefit—as you imagine the oracle, until now charming and hilarious, ending his monologue on a rather unsavory note. |
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Downtown
Disney store to close OCRegister - Saks Inc. announced Wednesday that it will discontinue its Club Libby Lu business. There are 78 Club Libby Lu stand-alone stores averaging 1,100 square feet at malls nationwide, including its only O.C. shop at Downtown Disney that opened in 2004, according to its Web site. The chain employs about 1,700 employees, who will be offered severance packages. The upscale department store chain expects to complete Club Libby Lu store closures by May 2. Steve Sadove, CEO of Saks Inc., said: “Discontinuing the operations of Club Libby Lu is the appropriate decision so that we can focus 100 percent of our time and resources on executing the strategies of our core Saks Fifth Avenue business.” In 2003, Saks bought Club Libby Lu’s 11 stores primarily as a growth vehicle. For the fiscal year ended Feb. 2, Club Libby Lu generated revenues of about $60 million. The 8-year-old Club Libby Lu chain caters to girls ages 4 to 12. At the experience-driven stores, girls can dress up as princesses or rock stars; mix spa products like “Soapy Sundae” body scrub, lip gloss and “Kool Karma” body spray; and get their ears pierced, according to the retailer’s Web site. |
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Jet Airways launches 'World Of Wonders' an in-flight festival
for its young passengers AME - WOW - is a tailor-made, two month long in-flight fiesta suitable for viewing by the entire family, while they fly Jet Airways. The festival will feature an exclusive Disney Channel compilation of hit shows like Hannah Montana featuring the tween sensation balancing her twin lives of a superstar and a regular schoolgirl. Another favourite, The Suite Life of Zack & Cody, is a comedy about twins who are always finding themselves in the middle of funny situations. Continuing the sibling madness is Phineas & Ferb who make up extraordinary inventions in their ordinary world. Or even Wizards Of Waverly Palace, a fantasy joyride about a New York family where kids do real magic with some unreal consequences. Jet Airways and Disney Channel also bring in the 'WOW' factor with the 'Camp Rock' Contest based on the keenly awaited Disney Channel Original Movie - Camp Rock, premiering on 26th Dec 2008 on Disney Channel and on Jet Screen, the Award Winning In-Flight Entertainment of Jet Airways, soon thereafter. Children can make the most of a fantastic opportunity to win wonderful prizes, including prizes for two children to travel to Hong Kong and visit Hong Kong Disneyland with a parent. To enter the contest, young participants 5 to 16 years can simply log on to the Jet Airways website (www.jetairways.com) and fill in the online contest form. The music clip required for the contest is available online or can be collected from the in flight crew members. Winning by answering a simple question can bring about an opportunity to board another enjoyable Jet Airways flight to Hong Kong. The contest also features consolation prizes where each such winner gets a Camp Rock music CD. The film is about a talented young girl Mitchie who spends her summer at a prestigious rock camp and ultimately achieves her dream of becoming a singer. A motivating film, which inspires us to believe in ourselves and follow our dreams. The contest is open from November 1 to December 31, 2008 on all Jet Airways international and domestic routes including the routes from the Gulf. 'At Jet Airways, it is our constant effort to provide wholesome, enjoyable and exciting in-flight entertainment which, like all our services, is evolving and caters specifically to passenger preferences.' he added. Jet Airways (India) Ltd. was adjudged the 2nd runner up at the recent Avion Awards for Best in Region - Asia and Australasia for excellence in In-flight entertainment, by airline passengers voting worldwide (via an online survey conducted by the World Airline Entertainment Association in partnership with Skytrax). |
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A Tussle Over
Tinker Bell NYTimes - A small apparel company is raising big questions about the originality of a limited-edition T-shirt sold on behalf of the Walt Disney Company. The T-shirt depicts an eagle with spread wings and a banner reading “Sweet and Toxic” in Gothic script. Tinker Bell sits below, somewhat seductively, on a heart pierced by an arrow. The shirt, sold exclusively in Canada, was designed and manufactured in 2007 by Philhobar Design Canada Ltd., which licensed Tinker Bell’s image and the Walt Disney logo from the entertainment conglomerate. The shirt has led the apparel company, New Name Inc., of Los Angeles, to sue Disney for trademark infringement in federal court. New Name says it created the “Sweet and Toxic” design in 2004 and that Disney — not Philhobar — stole it. According to the suit, the only difference between the two designs is Tinker Bell; the New Name version has a skull and crossbones in that space. Jury selection in the case started Tuesday. A Disney spokesman would not discuss the case, citing the pending legal action. Philhobar also declined comment. The case comes as Disney is trying to make a name for itself in adult fashion through licensing deals with designers who are interested in depicting the company’s animated characters in hipper ways. The centerpiece of the push is a line called Disney Couture. In many ways, the New Name complaint is business as usual for Disney, which attracts lawsuits due to its size, and occasionally runs into problems with its 5,000 or so licensees, particularly foreign ones. A dust-up occurred last summer in Britain, where a rogue licensee had produced “High School Musical” panties for girls with the words “Dive in!” Separately, a British company called Thoip is suing Disney in federal court in New York over T-shirt designs. Thoip’s shirts show characters, drawn from children’s books by Roger Hargreaves, with names like “Little Miss Bossy.” Disney sells a shirt in its parks with Daisy Duck and the slogan “Little Miss Bossy.” New Name wants to stir up attention. It has hired a publicist, who issued a news release that blamed Tinker Bell for ruining New Name’s business by rendering the design in question “appallingly uncool.” |
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Former Disney Employee Sentenced For Infant Porn
WFTV - There is nothing more innocent than a little baby, but detectives say a former Disney employee turned innocent babies into sexual fantasies and traded pornographic pictures of them. Tony Guerra, 21, was sent to federal prison Wednesday for those pictures.
While he does not have a record of child abuse, prosecutors say Guerra is extremely dangerous. The former Disney employee will spend the next decade in federal prison. Investigators said he had a sick sexual obsession with babies. On Guerra's computer the found more than 5,000 pornographic images of small children. Perhaps the most disturbing, in online chats, prosecutors said, Guerra persuaded a man in Australia to molest his grandchild and post pictures of it on the Internet. They said Guerra then invited another online friend to come visit him at Disney World to look for small kids. Guerra was arrested last year along with 40 other people who were part of an international online child porn chat room. He pled guilty last spring. Guerra's attorney argued that his client is developmentally delayed and has severe social problems and that's the reason he was interested in kids. "The judge understood that Mr. Guerra has some serious mental and physical problems that contributed to what he was doing and she took that into account," defense attorney Peter Kenny said. Prosecutors wanted Guerra to get the maximum 20 years in prison, but the judge sentenced him to 10 years and 10 months behind bars with mental treatment. Guerra's mother was in court and cried during much of the proceedings. When he was given the chance to make his statement, Guerra apologized to his family and said he was never doing it again. When Guerra is released from prison, he will spend the rest of life on probation and is barred from using the Internet or going to a theme park unless he has the court's permission. |
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Wednesday November 5, 2008 |
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Disney
Finds Magic in Movies and Networks Turn in those Pleasure Island annual passes Disney pulls 'Montana' diabetes episode Pirate and Princess Parties Return at Magic Kingdom World Theme Parks Market to Reach $28.7 Billion by 2012 The Disney College Program Disney Animation Moves Toward U.K. on-Demand 'Monday Night Football' tops TV cable ratings Former Animation Professor Dies from Leukemia |
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Disney Finds
Magic in Movies and Networks BusinessWeek - Many investors are shying away from shares of Walt Disney (DIS) in these times of economic distress. The premise: The global media and entertainment giant's theme parks and movies wouldn't attract much business because families as well as vacationers are tightening their budgets. Allow me to express a contrarian view: Movies are as popular as ever. Disney's newest offering, High School Musical 3, looks to continue the money-spinning success of the teen-focused franchise, and two upcoming films, Bolt and Bedtime Stories, are being lauded by analysts as potential box-office hits. Disney's home-entertainment offerings, including its ESPN and ABC TV networks and other studio creations, are gaining traction. Moreover, the theme parks aren't doing so badly. Of course when people think of Disney, they quickly conjure up images of its theme parks and resorts. But its Parks & Resorts unit accounts for only 30% of total revenues. The company's growing family of TV networks — including ABC, ESPN, Disney Channel, Lifetime, and A&E, among others —contribute 42% of revenues. Then there is Disney's Studio Entertainment unit, which generates 21% of total sales from its animated and live-action movies, musical recordings, video programming, and live stage plays. "In an economic slowdown, [theme] park traffic may drop, but networks and studio revenues should see them through," says Scott Armiger, vice-president and portfolio manager at Christiana Bank & Trust , which has assets under management of $1.7 billion and owns shares of Disney. Election advertising revenues could help offset reduced product advertising, and greater box-office and DVD sales could help offset weaker theme park attendance, says Armiger. And Disney's Studio business has switched its focus from quantity to quality, he notes, which means fewer but better films. Strong Balance SheetWith its strong balance sheet, Disney could pursue more acquisitions, buy back shares, or increase its dividend, says Armiger. He figures Disney is trading at a very attractive price of 26 a share, with a book value of $18 a share. Armiger puts the value of Disney stock at 40 a share. (The shares are down from a 52-week high of 35.02 on May 16.) Tuna Amobi, the analyst who follows Disney at Standard & Poor's Equity Research, voices the same upbeat note and rates the stock a strong buy with a 12-month price target of 32 a share. "Amid increased concerns with a consumer spending pullback, we note Disney in recent years implemented some steps to help its parks weather an economic downturn," he says. And compared to its large media peers, Disney's exposure to advertising-dependent businesses is somewhat manageable, adds Amobi. (S&P, like BusinessWeek, is a unit of The McGraw-Hill Companies (MHP).In the meantime, Disney posted better-than-expected third-quarter results. "We have been encouraged by recent trends at ESPN and ABC, and see some multiplatform upside with newer franchises such as Hannah Montana and High School Musical," says the analyst. And in these times of financial stress, Disney's strong balance sheet, with its "ample financial flexibility," is a source of comfort, adds Amobi. He figures Disney will earn $2.32 a share in its fiscal year ended Sept. 30, 2008, and $2.49 in fiscal 2009, up from fiscal 2007's $2.24. Revenues are expected by some analysts to jump to $39.1 billion in fiscal 2009, up from an estimated $37.8 billion in fiscal 2008 and $35.5 billion in fiscal 2007. "Built-In Premium"Without a doubt, there is value to Disney's position as a household name and global entertainment brand. As a large blue-chip company, "Disney has a built-in premium in value that provides investors a positive return on capital," says Daniello Natoli, managing director at independent investment research firm MatrixUSA . Rating the stock a buy, he says Disney's low-risk, modest valuation surely adds to its attraction as an investment. Although some analysts have reduced their profit expectations for Disney over the next couple of years, 16 of the 28 polled by Bloomberg still recommend buying the stock. Only three recommend selling, and nine rate Disney a hold. David Bank, who follows Disney for RBC Capital Markets , is among those who says the consensus earnings estimate for the company for fiscal 2009 need to come down given the economic environment. "It's a tough year for Mickey," he says. "But we remain committed to our thesis that Disney is simply the best-of-breed, commanding a premium multiple," says Bank, who rates the stock outperform with a 12-month target of 33. Disney holds special appeal to investors not only because of its long track record of steady growth, but also because they can feel comfortable with the power of its widely known brand. Just ask any person from age 3 to 103. |
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Disney
still peddles all those things. But now the company also sells
$3,900 designer wedding gowns — no characters in sight — and
women’s cashmere sweaters “inspired by Tinker Bell.” Interior
design offerings include $2,800 leather club chairs and $6,000
chandeliers patterned after the Art Deco décor in Mr. Disney’s
former office. One of the company’s new products: couture soap.
Other
new products this fall include $1,200 fountain pens from
Monteverde that come in three designs. In the Sleeping Beauty
Collection, for example, subtle silver arches around the cap are
modeled after the window architecture on the Sleeping Beauty
Castle at Disneyland. The nib is 14-karat gold (of course).
Guerra's
arrest helped unravel an international pornography ring. One
very shocking detail that came out in court Wednesday was
prosecutors saying Guerra invited an online friend to come to
his work at Disney and look for child to victimize.