Originally Posted By grimghost Spirit, after getting thru the stages of anger, denial, etc. I have resigned myself to the fact that this all too real. I think you are also probably correct in that it could only get better for PR if someone else owned them. "Quality will out". One question though? << The resorts ... and the cruise line ... and DVC ... and AbD (which almost any buyer would fold immediately as it is a Rasulo/Holz pet project that has been a total failure) would all go along for the ride.>> Do you think DVC is doomed? Yes, of course I own quite a few points.
Originally Posted By EPCOT Explorer >>>Deeply troubling, and preventable if they had just reinvested a fraction of the money they've made...<<< But it makes NO SENSE. Why flinch at WDW's needs when they are pouring money into DCA? Because WDW's parks don't suck as much? ...That's laughable.
Originally Posted By fkurucz >>Makeover had just been greenlit and the funds approved when he got a report on his desk outlining what WDW would need in the decade ahead just to not fall into the swamps<< I expect any potential buyer will perform due dilligence regarding this. If it's gonna cost 6 billion to get WDW back up to snuff, then the sale price will have to be discounted.
Originally Posted By DlandDug The money being poured into DCA was budgeted before the current financial crisis. If anything, the circumstances have been better for Disney, as contractors are hungry for work and are willing to do whatever it takes to get projects. The Disneyland Hotel is getting a lot of stuff that wasn't in their original budget because of this. The Florida Resorts, on the other hand, will continue to languish as long as the perception is that people will still keep the turnstiles clicking.
Originally Posted By fkurucz >>Do you think DVC is doomed? Yes, of course I own quite a few points.<< I would read your contract/buyers agreement to see if there is any indemnification clause in case DVC is shut down prematurely. That said, I doubt the new owners would immediately shut down DVC. It is a steady source of annual customers, even if the get their lodging at a discount. What I could see is that the would stop selling new memberships and maybe offer those interested in bailing a buyback (but not very generous). This of course assumes that they could fill those rooms with non DVC guests. If not then they might just leave it alone. Something the sharp pencil folks in finance will try to figure out.
Originally Posted By PirateFrank They can't shut down dvc....any buyer of P&R (which may include DVC) would be subject to the terms of the contract no different than Disney is now. To do so would invite a tidal flood of lawsuits from dvc owners, including myself.... This is no different than the owner of marvel changing hands to Disney. Disney has to respect the use contracts in place with marvel...and unless an agreement is in place for a buyout, will have to do so for a VERY long time. If a prospective buyer is intent on liquidating or significantly changing DVC, the buyer is going to have to come up with a buyout that exceeds the fmv of each contract...or else the dvc owners will see no reason to accept the agreement....
Originally Posted By ChiMike DVC isn't going anywhere. Nor will any company buy back DVC members' timeshares unless it is distressed or through ROFR.
Originally Posted By Pentacat See Miceage's Editor's Note this morning? " I sure hope all the rumors popping up everywhere about a major overhaul and refresh at DisneyWorld are true. That kind of announcement would help to launch the D23 Expo in the best possible way and give the Orlando visitors the quality they deserve. - Al Lutz" Misdirection or has the reality of no legitimate buyers set in?
Originally Posted By Spirit of 74 >> But you could do a special bound/boxed LE set where you include a tiny amount of the old Pixie Dust pink anthrax soap in a special MAGICal Potties Pin and sell the book for twice that! << <<Great idea! In the spirit of the great Disney podcasters and bloggers who have paved the way for me, I'll profit off of your intellectual property without giving you any cut of the profits.>> I would expect nothing less, Leo. I've seen people who sell Disney's IP complain online when someone uses one of their photos and doesn't credit them. So, feel free to steal from me at will ... just ... ah ... can ya tell me where the nearest restroom is if I'm standing in front of the train station?
Originally Posted By Spirit of 74 <<Well, this is odd, then, seeing they've actually investing in these entities. So, they invest in these entities and make them quite stellar, and then drop them? Meanwhile, the parks are left to rot. This is not making sense... >> Not odd at all. There constantly is investment going on when you are the size of Disney. And no deal is done. One may never happen. Or they may simply pick up an investor or multiples. They have just been growing their business according to their models and projections. It has nothing to do with any sale or not. They could announce E-Tickets tomorrow for each WDW park (or just five more DVC resorts) and it wouldn't make one iota of difference on a potential sale or not.
Originally Posted By Spirit of 74 <<Good Gawd, I'm starting to miss Michael Eisner....>. I don't miss him running the company. I just wish we had someone with his energy, commitment and vision (well, from his first dozen years with the company anyway) now. And not someone who is largely continuing much of the bad from his last years and doing plenty of bad on his own. Iger is a manager. TWDC needs someone with some creative sense and understanding of the company's past.
Originally Posted By Spirit of 74 << The resorts ... and the cruise line ... and DVC ... and AbD (which almost any buyer would fold immediately as it is a Rasulo/Holz pet project that has been a total failure) would all go along for the ride.>> <<Do you think DVC is doomed? Yes, of course I own quite a few points.>> Nope. Absolutely not. As Pirate Frank said below: <<They can't shut down dvc....any buyer of P&R (which may include DVC) would be subject to the terms of the contract no different than Disney is now. To do so would invite a tidal flood of lawsuits from dvc owners, including myself.... This is no different than the owner of marvel changing hands to Disney. Disney has to respect the use contracts in place with marvel...and unless an agreement is in place for a buyout, will have to do so for a VERY long time. If a prospective buyer is intent on liquidating or significantly changing DVC, the buyer is going to have to come up with a buyout that exceeds the fmv of each contract...or else the dvc owners will see no reason to accept the agreement.... >> Just like with using the characters in parks and film franchises etc ... nothing with change with DVC. Contracts just change from one owner to the other, but are enforced based on when they were signed and the language therein.
Originally Posted By Spirit of 74 <<See Miceage's Editor's Note this morning? " I sure hope all the rumors popping up everywhere about a major overhaul and refresh at DisneyWorld are true. That kind of announcement would help to launch the D23 Expo in the best possible way and give the Orlando visitors the quality they deserve. - Al Lutz" Misdirection or has the reality of no legitimate buyers set in?>> I've commented it on the thread about it, but I don't think it has anything to do with whether there are buyers or not. For all we know, there may be a deal almost done ... or no one willing to step up to the plate. Al is just looking for some attention heading into another lazy summer weekend. That doesn't mean there won't be news regarding WDW at D23. Just that it doesn't matter whether they announce multiple new projects or nothing new at all, it doesn't make a sale more or less likely.
Originally Posted By wahooskipper I wonder what becomes of the Reedy Creek Improvement District if the parks and resorts are sold? Assuming it remains and Disney still basically controls that Board then it would be an interesting relationship between the District and the new owners. I don't really give a lot of credence to this whole idea but just imagining some of the scenarios is pretty interesting.
Originally Posted By Bolna I think the way the Reedy Creek Improvement District is set up is that it is controlled by the land-owners, not the residents. So a new company could control the RCID if they would buy all the land from TWDC - and of course then have a similar arrangement as with the current board which is made up of Disney employees who are allowed to own land there as well by Disney (I think there was recently something about a change there...). The other question however may be: What does Florida think about someone else making use of this special legal construct? Would there be any possibility to change the legislation which introduced the RCID or do they have a guarantee for eternity? Possibly Disney could also keep the land ownership and just lease out the parks, the infrastructure etc.? But then they would really not be rid of the the nasty day-to-day business of running the parks.
Originally Posted By sjhym333 I believe it is part of the public record so you can read it. I know that there are renewal clauses in it for the state. Several years back some of the counties were making noises about some issues they had with Disney and threatened to not renew RCID.
