Iger and Staggs at WDW With the WDC Board and who?????

[DizneyFreak2002]

Well, it has been reported elsewhere, and yet, been pretty hush hush for some reason, that Tom Staggs and Bob Iger were seen dining at Via Napoli... Iger was also seen walking through Animal Kingdom with that park's VP... The interesting note to all this is, the WDC Board of Directors were also there... They were spotted doing the Wild Africa Trek... But, that isn't the shocker (well maybe it is... leaving the boardroom to actually visit Walmarted Disney World, er, Walt Disney World)...

No.. the shocker is who their quest was... Rumors swirl that the Saudi Prince was their guest... The question is, if he truly was there... WHY????

Disney fans love to speculate, usually based on no facts what so ever... But this is an interesting and potentially developing situation... The Saudi Prince does own a stake in DLP (what doesn't he own an interest in???)... And of course, rumors (unfounded at this point) swirl that WDC may be looking to sell off, or spin off, their Parks division... And of course, there is nothing like the Disney internet fan community speculation that maybe the Saudi Prince is in negotiations to purchase an interest of the Disney U.S.A. parks, or maybe just WDW....

Personally, I don't see this happening... For all we know their "secret meeting," which obviously isn't too secret anymore since it is now being reported on fan sites, could be about DLP, or nothing at all... And hey, maybe he wasn't even there and this is just more of Disney internet fanboy imaginations running wild... HOWEVER, Iger, Staggs and the Board WERE there..

Intersting times for WDW and maybe the WDC in general lie ahead.... Which way things turn??? Only Iger knows (and that is scary enough)...

[mommad]

I highly doubt that the Walt Disney Company would sell WDW. If anything they may be courting the sheik to put in a new pavillion in EPCOT or may be asking for input and sponsorship on a new land in Animal Kingdom.

[magicofdisney]

I highly doubt that the Walt Disney Company would sell WDW. If anything they may be courting the sheik to put in a new pavillion in EPCOT or may be asking for input and sponsorship on a new land in Animal Kingdom.

The EPCOT idea was my initial thought.

[DizneyFreak2002]

I highly doubt that the Walt Disney Company would sell WDW. If anything they may be courting the sheik to put in a new pavillion in EPCOT or may be asking for input and sponsorship on a new land in Animal Kingdom.

My thinking, he is either looking to become a bigger investor in the company as a whole, a buyer in one of the homes in Four Seasons, a pavilion in Epcot, or possible park expansion in the Middle East... I too highly doubt a sale of the parks...

But then again, witht he way TDO doesn't care about the state of WDW... and with the way this business structure actually works in Tokyo and Hong Kong, maybe it is something WDC is seriously looking at... If that is the case, then celebrate because we'll actually have someone in charge of the parks who care... Not Phil Holmes, Meg Crofton and the rest of the ilk who only want the next biggest Escalade parked in their McMansion driveway....

Just let me add... I do believe there are talks or at least were talks between the members of the board of WDC to sell the parks, which would include Disneyland... Now, while I don't believe the sale would be to the Saudi Prince, I do believe there could be a possible sale to a company who would actually operate the parks as parks were meant to operate, to add creativity to a park (WDW) which is sorely missing it, and don't forget, Disney would keep the company honest and hold them to a high standard... Like, OLC in Hong Kong... This could be a win/win for Disney Company and for fans... But, then again, this could be another Disney Store debacle and, well, we all know what happened there...

[Aurora]

Does anyone else think it's kind of hysterical that touring and dining meetings out in public in the parks are considered hush-hush? Especially if the Saudi Prince was with them? The board members and prince weren't wearing wigs and sunglasses, were they?

I think selling the Disney parks division to the Saudis is a real stretch. Not that stranger things haven't happened, but there are lots of reasons it doesn't make much sense to me, only one of which being that the parks division has perennially been one of TDC's biggest moneymakers. The New York Times reported earlier this year that the parks are "positioned as a driver of growth" for the company.

I do see the possibility of courting the Saudis for investments, however, maybe even creating a new theme park in that area of the world.

[DizneyFreak2002]

Does anyone else think it's kind of hysterical that touring and dining meetings out in public in the parks are considered hush-hush? Especially if the Saudi Prince was with them? The board members and prince weren't wearing wigs and sunglasses, were they?

I think selling the Disney parks division to the Saudis is a real stretch. Not that stranger things haven't happened, but there are lots of reasons it doesn't make much sense to me, only one of which being that the parks division has perennially been one of TDC's biggest moneymakers. The New York Times reported earlier this year that the parks are "positioned as a driver of growth" for the company.

I do see the possibility of courting the Saudis for investments, however, maybe even creating a new theme park in that area of the world.

The Board of Directors in the parks with Iger and Staggs would be prime marketing/photo op for Disney Parks blog... Read any story of it on there??? Nope... The Board of Directors in WDW?? As a group?? When does that ever happen??? They were there, for something important... something big... Now, does it mean selling the park??? Probably not... None of us were in their meetings so who knows what was discussed... For all we know, they were brought in to see current development and future development...

The Prince is also a major stakeholder in Four Seasons, the now delayed until 2014 development on WDW property... Maybe he was there to see what what going on there... There are lots of reasons he could have been there...

Could be a load of nothing, could be a whole lot of something... Like I said, I don't believe Disney Company would sell the parks outright to the Prince... HOWEVER, I can see him wanting to become a larger shareholder and this visit/meetings were just for that...

I like to bring these topics to Intercot because the speculation of pending doom is pretty much nonexistent... I feel a better conversation can be had about these sort of topics... You go elsewhere, and this story means the end of Disney World as we know it... it's plain old crazy!!!! We all know the Saudi Prince wouldn't ruin Walt Disney World... Meg Crofton is doing a bang up job of her own!!!

Personally, I think TDO's time is about to come up... And I do think there are good times ahead for WDW without the interference of TDO's cheap managing style... Guess we'll have to wait and see!!!

[Goofeygal]

Interesting.

[JPL]

First off did anyone actually see the Saudi Prince?

Also before specualtion of WDC selling off the US parks if they were in fact excorting a Saudi Prince around the parks, I would guess this has more to do with Development in Dubai since I know they have always wanted Disney to have park there since the initial planning stages there were already plans for Marvel Universe Park.

I would also think that maybe the Board wanted to see something that was in progress or being planned to justify the expenses. There could be lots of reasons for them to be there that make sense.I think selling off the parks is big leap from a meeting!

[DizneyFreak2002]

First off did anyone actually see the Saudi Prince?

Also before specualtion of WDC selling off the US parks if they were in fact excorting a Saudi Prince around the parks, I would guess this has more to do with Development in Dubai since I know they have always wanted Disney to have park there since the initial planning stages there were already plans for Marvel Universe Park.

I would also think that maybe the Board wanted to see something that was in progress or being planned to justify the expenses. There could be lots of reasons for them to be there that make sense.I think selling off the parks is big leap from a meeting!

He was seen at the Boardwalk... And is believed to be staying or was staying at the BoardWalk... Where, coincidence??? the Board was holed up behind closed doors.... Hmmm...

I agree with you regarding the last paragraph... With the D23 convention coming up, I believe they were all there to see progress to the new additions and to see areas that are currently planned on for expansions... That way things can be approved and announced at D23... I just think it was more to do about nothing...

Iger meeting a large investor... and things are blown out of proportion...

[princessgirls]

It was a CEO/Board of Directors Field trip of sorts....

You can sit and talk about stuff easily around a board room table, it adds a whole different dimension to actually get out and SEE what is going on in the parks rather than sit around talking about numbers and profit margins!

If there was a Saudi Prince present, and that's a big IF, it would be MY guess (just my guess) that Disney is trying to develop something in Dubai, which is gaining tourism. A couple of other posters said this as well, and it would make sense!

Julie

[mommad]

Really I wish Disney would stop developing foreign parks for a bit and focus on fixing up and adding to the ones they already have. Sure, the Fantasyland expansion in WDW is nice and all, but there are so many areas in WDW alone that need help that they could be doing refurbs and add ons there for a good 10 years.

[Scar]

The Board of Directors in WDW?? As a group?? When does that ever happen???

I met one of the WDC Board members last year at a wedding (his niece married my cousin's son.) I spoke with him casually for about 10 minutes. He told me that every few years the entire board makes a trip to WDW so they can get a feeling of what's going on. One year they even stayed at All-Stars value resort.

[DizneyFreak2002]

I met one of the WDC Board members last year at a wedding (his niece married my cousin's son.) I spoke with him casually for about 10 minutes. He told me that every few years the entire board makes a trip to WDW so they can get a feeling of what's going on. One year they even stayed at All-Stars value resort.

Now is the time this trip was needed then... Especially since D23 is coming up in a month or so... I'm hopeful this visit leads to a few greenlit plans... I really believe good times are ahead and no, I don't fall into the doomers and gloomers who think the saudi prince was there to purchase the parks...

Thanks for the info Jeff!!!

[Ed]

It would appear that the presence of Iger, Staggs and the Board members might be explained by the latest shake-up at the top end of the WDC food chain.

[DizneyFreak2002]

I'm giving up on these rumors... my head is spinning.. Too many with an agenda out there... Ed's post above is the more than likely reason for Iger and Staggs being in WDW... The BoD being there could be just a typical visit to see progress in current projects and review possible future projects...

But now, since apparently the Saudi Prince said no thank you to buying or investing in Disney's USA parks, now a Chinese group IS the purchaser??? I'm done... Wake me when we have real news and not someone's doom and gloom secret agenda..

[Brian]

I've seen the rumors that they're trying to sell the parks, and also the rumor that the parks have already been sold. My personal opinion is that neither rumor is true. The parks are a major asset of The Walt Disney Company. My understanding is that they would need to be sold in public (not behind closed doors) in order to obtain the highest bid. Otherwise, Disney would be doing a disservice to its shareholders, and could possibly end up with a shareholder lawsuit on their hands.

[DizneyFreak2002]

I've seen the rumors that they're trying to sell the parks, and also the rumor that the parks have already been sold. My personal opinion is that neither rumor is true. The parks are a major asset of The Walt Disney Company. My understanding is that they would need to be sold in public (not behind closed doors) in order to obtain the highest bid. Otherwise, Disney would be doing a disservice to its shareholders, and could possibly end up with a shareholder lawsuit on their hands.

Honestly, I am not so sure about that... Disney is a publicly traded company, true... but the parks is only one division of the entire Disney company... if the entire company was selling, then I would see the news being made public first, then looking for the highest bidder... But only for an investor in one section of the company??? not so sure that has to be public knowledge until a deal is finalized.... I could be wrong though...

[Brian]

Honestly, I am not so sure about that... Disney is a publicly traded company, true... but the parks is only one division of the entire Disney company... if the entire company was selling, then I would see the news being made public first, then looking for the highest bidder... But only for an investor in one section of the company??? not so sure that has to be public knowledge until a deal is finalized.... I could be wrong though...

True. But, Parks & Resorts accounted for over 28% of the entire company's revenue in 2010. To not publicly shop that around for the highest bidder would be a mistake. If I'm a shareholder and they sell the parks for $30 billion, but find later that Investment Group XYZ would've bid $35 billion and was excluded from the bid process, I'd be upset. I don't think selling the parks in secret would be logical or ethical. If anything, I'd expect to see a spin-off of Parks & Resorts before an actual sale.

Again, this is just my personal opinion, so take it for what it's worth.

[Ian]

Interestingly enough, this appears to be something they've considered in the past. I ran a quick Google search against "Disney to sell theme parks" and dug up an old Forbes article from 2006 exploring just this topic.

The gist of the article was that Disney had considered it, but still saw potential for hitting the annual growth targets they had for the parks and therefore had most likely decided to retain ownership. But the author went on to speculate that continuing to hit that growth target would become more and more challlenging as health care costs and other employee expenses continued to rise.

Certainly in the five years since 2006 nothing has happened to slow the rise in the cost of healthcare and I know the unions are constantly hammering Disney for more and more for the hourly workers they represent.

It's exactly five years later which, in business terms, is fairly common timing for reforecasting or updating your business plan. Maybe they've decided that now it makes sense? Although I don't think they'd do an outright sale ... I'd bet they'd sell a stake but retain an interest in them, similar to what they do with OLC in Tokyo.

And for the record, TDL is universally considered by far the best run and highest quality Disney theme park there is, so it might not necessarily be the worst thing ... It's not like Walt Disney World has covered itself in glory the last decade or so.