Originally posted by King Triton
I know DisneySea had more investors, but DCA looks like a roadside carnival compared to DisneySea. Come on Disney....why don't you team up with Bill Gates and build a DisneySea over here.
King Triton, it's not that I don't agree with your premise that DisneySea looks far more impressive than DCA. But please allow me to correct some assumptions and factual errors.
It's not that DisneySea has "more investors" than DCA. The parks were buit by two different companies -- Oriental Land Company and The Walt Disney Company. The executives of the companies obviously have different philosophies on how to build and operate a successful theme park. But it has nothing to do the number of investors.
Originally posted by King Triton
Disney says they can't afford to do a DisneySea quality but yet they paid Michael Eisner over $700 million dollars last year (not to mention the mega bucks they pay the other top suits).
Actually, The Walt Disney Company has never said that they "can't afford to do a DisneySea quality." The executives at Disney in Burbank made business decisions that they felt would provide the best return on the company's investment. (All indications now are that they made bad business decisions regarding DCA.) But they could easily have afforded to invest more capital up front if they had believed that would be good business. And they could still make the major investment to make DCA into a real "you just gotta go there 'cause it's so insanely great" park -- but the executives still think that some more modest additions represent a better business strategy.
If Disney had wanted to invest more capital in DCA, they wouldn't have needed Mr. Gates' money. Keep in mind that The Walt Disney Company bought Fox Family Worldwide for approximately $5.3 billion (when you include the assumption of approximately $2.3 billion in debt) last year. That's what News Corporation (Fox) reported. See
http://www.newscorp.com/feg/fegpress/news_138.html .
Also, Disney didn't pay Michael Eisner "over $700 million dollars last year." For the fiscal year that ended September 30, 2001, Mr. Eisner received a base salary of $1 million. No bonus. No stock options. See
http://www.thestreet.com/tech/georgemannes/10006227.html . (Over the previous
five years, Mr. Eisner's total compensation from salary, bonuses, and stock options was around $700 million. See
http://www.forbes.com/2001/04/26/eisner.html .)
Please don't consider this an attack on you, Mr. Triton.