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Topic: Theme Park Cut-Backs, Are they going to stay even when the crowds return?< Next Oldest | Next Newest >

RichKoster Offline

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Posted: Feb. 06, 2002 7:22 am/pm Quote

Yoo Hoo, Disney EchoEars!

From an article discussing Wall Street's pleasure with Disney's profit results:

Quote

Analysts focused on management's ability to trim costs -- primarily fixed expenses -- at theme parks. They said that when the economy turns around and tourism resumes to levels before the Sept. 11 attacks, the cuts will remain in place, resulting in higher profit margins.



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RichKoster Offline

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Group: Disney EchoEar Grand Mouseter/AdministratEAR
Posts: 5119
Joined: Aug. 2001
Posted: Feb. 06, 2002 7:23 am/pm Quote

Yoo Hoo, Disney EchoEars!

I don't like the sound of that, folks. Seems like Pressler wants cut-backs in the parks to be a permanent thing.

As my wife puts it: "As to what this means for the theme parks, it's sad this is going on in Walt's anniversary year vs. Roy's anniversary year. There's quite a disparity between imagination and what it costs to implement imagination, and maintain imagination, and perpetuate imagination.

That Disney management has been cost-cutting and cost-conscious has been going on for several years, it's never stopped. What's to be observed is the post-Enron era, how they and other corporations re-evaluate how they maintain their financial records and how they ascertain and report how they're really doing. In this light, after the Enron fallout is known and settled, will we see how Disney truly deals with theme park maintainance and new attraction costs and designs. Because in the new post-Enron and post-9/11 era something has to balance out between keeping the "Disney magic" alive for families who want the reassurance of that vs. realistically and honestly reporting costs to Wall Street and operating within one's means.  

I'm not accusing Disney of Enron-like activities, but Enron is cutting close to home for a lot of corporations even though publicly they may not be admitting it. There will be accounting reform, and 401K reform, all of these good things for staffers and investors. But the accounting reform may also mean "reality" of the product line must match the books, and vice-versa, more than ever before due to the new scrutiny. And what that may mean for preservation or perpetuation of Walt's full creative legacy, I dunno, but it's surely to be altered. You may have to visit it in pictures, such as through the pages of E-Ticket Magazine" or Disneyana gatherings. Individual guest service as Walt envisioned it, I dunno, relegated I'll bet for those willing to pay for it. The staffing and training levels, I dunno....pay scales to achieve Walt's standards....I dunno....you get the drift here. We're entering a whole new world post-9/11 and post-Enron. The effects of both of these will be profound but are still working themselves out.

So it's good to have back issues of "E-Ticket Magazine" and to go to the parks, shooting photos and videos to preserve the look of Disney Magic in one's own Disney memories archive to enjoy for years to come.

It's not all doom and gloom, and I think Disney will keep coming out with great attractions and the parks will continue to be fun places to visit and not grieve over. I have confidence in this! But...it may not be "as Walt" would have done or did in the past. He was one of a kind. Not many like him walk around today, or are hired or manage corporations today. And not everyone sees life as do, say, those who live in Charleston SC who know that preserving the past actually makes for a much superior way of life than the transience of the present does.

It's sad it's taking place in Walt's year, is all I can sum up with."


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1 replies since Feb. 06, 2002 7:22 am/pm < Next Oldest | Next Newest >

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