WEDWAY100!! I thought youd gone away. Even if it is a long time between posts, I can tell
youre going to be a lot of FUN!! 
So lets get at it, shall we?
Short term thinking on whose part?
On Ei$ners part, of course. Now, I agree with an awful lot of what you say in youre assessment of modern day investing. But I think that much too much emphasis is placed on it.
It is important to keep in mind that the type of LONG TERM thinking that I say they lack, is definitely NOT exclusive. There is no reason in the world why both short term (quarterly, even yearly) cannot coexist with a carefully thought out long term plan. In fact, in my opinion, there is every reason in the world to encourage that type of thinking!! I never said that they should concentrate solely on the long term to the exclusion of any short-term gains. But they have so skewed their plan that there is
NO long term thinking (let alone planning) at all!! EVERYTHING, every ounce of their beings, is going into bolstering the next quarters bottom line. And most of the time it is an inflated picture, painted as rosy as possible, and being financed and funded by the parks, to their LONG TERM detriment!! Dont you agree?
And please remember that the short term thinking I was referring to is just one aspect of several other (and perhaps even larger) problems with the current management. The other two (and there are probably hundreds more) are excessive greed and sheer knuckleheadedness.
Now, maybe its only me, but Im getting a little upset reading the recent stock quotes for Disney, seeing my hard earned cash going down the toilet and at the same time realizing that Ei$ner has a quarter of a billion in his pocket and he wont even keep the MK opened a measly extra hour for me in the middle of July!! Ill admit that theres some mixed up thinking there on my part. But I just cant help feeling a little screwed over at times by this guy!! So the esoteric conglomerate concepts mixes with the highly personal feelings and comes spewing out of my fingers and onto the keyboard in rants calling for the tar and feathering of the guy whos causing me pain!!
And the last of my major complaints is his knuckleheadedness. Now, weve been through it all before on this site, and Im definitely NOT the money and accounting type (more your Disney philosopher type I think
), but I believe that for the same amount, or even substantially less in some cases, significant investments can be made in The Parks than is spent on stupidity (i.e. ABC, some cable outlets, big budget bombs, etc.). There are many here who deal with these numbers and the logic behind them all the time (Mr. Head, AV). They may be able to fully debate the issue. I can merely point to the failures and say, See guy!! I couldnt tell you why, but I did tell you I
felt this was a bad move. And I was right!! I guess the bottom line for me, and most of the world the past few days, is Ei$ner is just inept. Period!
He learned that in a big way with EDL.
I am afraid you are right. He did learn that lesson in Paris. However, as typical of character and indicative of his knuckleheadedness, he learned the WRONG lesson. What he should have learned is that WDI knew what they were doing when planning the parks and hotels. What he should have learned was to keep his micro managing nose out of things that are clearly over his head. What he should have learned was that he was an upper class American, not French or European, so he may not have instinctively known all the answers. Instead, he learned NOT to do things the Disney way. See!!! The guys a knucklehead!! Plain and simple!!
I think that with him there has been a pendulum (sp?)at work, and that with EDL, it probably swung too far in the direction of huge capital investments and risk taking.
First off your spelling is impeccable (not that I would know without my spellchecker, but pendulum didnt pop up!!) Anyway, you say that it swung too far in the direction of huge capital investments and risk taking. But do you know what direction that was? It was in the resort area that he micro managed the project into the ground, over the strong objections of WDI. One of the first and another clear example of his knuckleheadedness.
My thinking is dramatic improvements over prior management (Card Walker, etc..). Although that group was able to open Epcot, it was a pale image of what Walt had in mind.
Oh!! On this we agree!! Very pale. And there are other threads currently alive that point to this concept. But to just leave the sentence out there that, it was a pale image of what Walt had in mind leaves the impression that the Walker/Miller administration was nothing
but pale. And yet they had the ba... the ah
well
they had the GUTS to build a theme park that was radically different than anything on the face of the planet. And to the tune of a BILLION dollars of risk!! And it became second only to their own MK. Not bad, Id say. And you really have to consider that, for good or bad, they were terribly constrained in concept, as they really tried to at least keep the ideal, however loosely, of their mentor. I personally believe that Ei$ner would have rejected EPCOT immediately with no further consideration. So, in retrospect, I think Walker/Miller did a damned good job of it!! Much better than Ei$ner would have done. Dont you?
The company was in financial trouble, and Eisner and Wells dramatically turned that around.
WRONG!!! Im sorry!! Thanks for playing. We have some lovely parting gifts!
Seriously. This one really bothers me. And everyone thinks it at one time or another. Even I did. The truth of the matter is that they were NOT in financial trouble. They had under developed and unused asset that made them very ripe for a take over. They had vast real-estate holding which had risen to unbelievable heights because it was situated next to WDW in Florida that were not being utilized to its full potential. And they were sitting on a film vault that was better than a gold mine; it was a cash machine!! Now they did get lucky with Katzenberg. The Studio segment of the business soared with him in charge. But it soared in spite of Ei$ner, not because of him. And it failed miserably after Ei$ner gave him the boot. So in reality, all Ei$ner and crew did, was nothing more that an undergrad college student would have done with a couple of business courses under his belt. He unlocked the film vault money making machine and built up the Florida land holdings. I really want to know what else he (and even Frank Wells) did that was so dramatic?
Both live action and animation are clear examples of that.
Well, I must say that Jeff K. did a wonderful job!! But remember that The Little Mermaid was well in development under the Walker/Miller reign. And also remember that EI$ner didnt like the project. He didnt want to do it. His BIGGIE and personal favorite was The Rescuers Down Under!! Sorry. But I have to say it again: Another clear example of his knuckleheadedness.
For instance, the entrance to Liberty Square in the MK was redone and looks much better. The partners statue at the hub and the fact that the terrible black pavement in FL and Dumbo has all been redone. These are examples of things that will have no bearing on bottom line profit, and had not been done in the past. Maybe that's not dramatic, but I really appreciated it.
OH MY GOD!!! Dont say that again!! Of course it has a bearing on the bottom line!!! My goodness!! It is EXACTLY what Im all about!!! These are the things that dreams are made of!! (Obscure movie reference!)
And you noticed some improvements that coincided with Ei$ners beginning. Fair enough!! LETS TALK MAINTENANCE!! Lets talk Paul Pre$$ler and
Disneyland!! Lets talk Paul Pre$$ler and WDW a couple of years ago!!! Nothing and I mean
NOTHING in the Walker/Miller era could even come close to the dilapidated shape of the parks under his reign!! And to be honest, I really didnt notice, and not many have posted, about the sorry condition of the parks before Ei$ner took the helm. Quite the contrary. They usually say the opposite.
One thing that we disagree on is that it is easy to find a replacement for Eisner
WHOA!!! I think you misunderstand what I said. And in all fairness I may have said it wrong (I dont know and Im way to lazy to look it up!)!! I said (I think) that ANYONE. Who
Got It would be better than Ei$ner. And I truly believe that. But only in the sense that it would be no worse at all and probably a little better. I believe, for a company like Disney he is the worst! We need someone with a vision, and someone who not only will attend Traditions, but also understands the underlying principles that are taught there. It is, after all, a somewhat unique company.
No, It will not be easy to find a replacement. Its only easy to find someone who wont screw it up as much as Ei$ner. Any poster on this board who do better, at least as far as the parks go. But to find a true leader, the will guide Disney to the very top of its game and that fully
Gets It? Very hard indeed!!
As for Disney being acquired by someone else, just ask how the people at Universal feel reporting to a French water and sewer company who has them on the block.
And yet I see WONDERFUL things coming from the northwest direction I-4. Why is this, do you suppose?
I may have disagreed with several of Eisner's recent decisions, but at least whoever is in that position can make a final decision and not have to bounce it up another level.
What difference does it make if the ultimate decision turns out WRONG anyway??!! Whats the difference between a higher level allowing them to build a very Disney-like park or a sole decision maker getting it wrong? Or worse yet, being inept!
Man, It takes too long to do this, and my brain hurts. Thanks for the debate!!
Ahhh! No, my friend!! The pleasure is all mine!
I THANK YOU!!!!
And if its any comfort, my brain hurts, too!!
PS: I like your name!! They should never have let WEDWAY or least the concept of it go by the wayside!!!
