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  1. #1

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    Disney Offers Buyout Packages to Parks and Resorts Execs.

    Breaking News on WSJ.com headlines:

    Disney is offering buyout packages to roughly 600 of its executives at the company's domestic Parks and Resorts division.
    More to come as the story unfolds...

    LOS ANGELES – Walt Disney Co. is offering buyout packages to roughly 600 executives at the company's domestic parks and resorts division in an effort to reduce costs during the recession.
    http://online.wsj.com/article/SB123256754437503297.html
    Last edited by ROBONICS95; 01-21-2009 at 12:16 PM.
    "If you build it right, they will come." - Bob Iger

    "I'm not a literary person. As far as realism is concerned, you can find dirt anyplace you look for it. I'm one of those optimists. There's always a rainbow." - Walt Disney



    "I don't care about critics. Critics take themselves too seriously. They think the only way to be noticed and to be the smart guy is to pick and find fault with things. It's the public I'm making pictures for." - Walt Disney

  2. #2

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Um well I only got 6 bucks right now... does that get me anything?
    Micoofy Duck
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  3. #3

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Glad they are trimming from the top, and not the bottom.


  4. #4

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Will this mean no more two year "year long" promotions that no one really cares about?

  5. #5

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Executive pay and benefits do cost more than that of a non-exec employee.

  6. #6

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Should build shareholder confidence.
    Just countin' the days til the next visit!

  7. #7

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    ah....oh, ok...thanks for the news.

  8. #8

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Quote Originally Posted by disneysnout View Post
    ah....oh, ok...thanks for the news.
    Sorry, I will update the post once more information is released. I posted this based on the headline ticker that I saw on WSJ.com. So the story is still relatively new and without a subscription to WSJ.com, I will have to wait until other news channels pick this up before elaborating.
    "If you build it right, they will come." - Bob Iger

    "I'm not a literary person. As far as realism is concerned, you can find dirt anyplace you look for it. I'm one of those optimists. There's always a rainbow." - Walt Disney



    "I don't care about critics. Critics take themselves too seriously. They think the only way to be noticed and to be the smart guy is to pick and find fault with things. It's the public I'm making pictures for." - Walt Disney

  9. #9

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Disney sends buyout offers to 600 parks execs

    Reuters, Wednesday January 21 2009

    LOS ANGELES, Jan 21 (Reuters) - Walt Disney Co said on Wednesday it sent voluntary buyout offers to 600 executives at its domestic theme parks to cut costs amid an economic meltdown that has depressed attendance and prompted the company to deeply discount Walt Disney World stays.
    Disney said if the buyout offer, which expires Feb. 6, does not produce enough reductions, the company will consider layoffs.

    A company spokeswoman declined to say what amount of savings or head count reductions Disney was trying to achieve, or what the cost of the terminations would be.

    The buyout offers come about six weeks after Disney said its hotel bookings had started to rebound as a result of the discounts. The move appears to be part of "significant" costs savings the company promised investors late last year.

    Disney Chief Financial Officer Tom Staggs said at that time that hotel bookings were down about 6 percent in the company's first and second quarters, an improvement over the 10 percent drop the company previously forecast for that period.

    In a letter dated Jan. 22, Disney told employees it needed to streamline its executive work force "at all levels" to reduce its cost structure.

    The buyouts would become effective between mid-February and the end of March, the letter from Jayne Parker, senior vice president of human resources, said.

    Disney shares closed up about 4.9 percent to $21.23 on Wednesday on the New York Stock Exchange. (Reporting by Gina Keating; editing by Carol Bishopric)
    Business Feed Article | Business | guardian.co.uk
    "If you build it right, they will come." - Bob Iger

    "I'm not a literary person. As far as realism is concerned, you can find dirt anyplace you look for it. I'm one of those optimists. There's always a rainbow." - Walt Disney



    "I don't care about critics. Critics take themselves too seriously. They think the only way to be noticed and to be the smart guy is to pick and find fault with things. It's the public I'm making pictures for." - Walt Disney

  10. #10

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Here is the full story





    By PETER SANDERS

    LOS ANGELES Walt Disney Co. is offering buyout packages to roughly 600 executives at the company's domestic parks and resorts division in an effort to reduce costs during the recession.
    The Burbank, Calif., entertainment conglomerate said Wednesday it was giving the affected employees until Feb. 6 to decide whether to take the buyouts and that layoffs afterwards are possible.
    "The Parks and Resorts division is in the process of implementing a number of initiatives to contain costs and maximize efficiency," Leslie Goodman, a communications official with the division, said in a statement. "Given the continued uncertainty of the economic environment, we must manage our business even more productively."
    The buyout plan doesn't affect employees at the company's international units, which have already trimmed some costs, according to Ms. Goodman. She said the company doesn't have a target number for the number of executives it wants to cut.
    Disney will report fiscal first-quarter earnings on Feb. 3

  11. #11

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Shares are up today


    "We believed in our idea - a family park where parents and children could have fun- together."

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  12. #12

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Yeah, but only after dropping for way too long...


  13. #13

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Maybe they oughta consider lowering the cost of AP's and admission. $389 for a PAP... frickin' ridiculous in this economy. I guess that even if the pay-as-you-go thingee is selling AP's, it isn't paying off enough to maintain the status quo.
    Last edited by Circarama; 01-21-2009 at 02:47 PM.
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  14. #14

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    I hope Jay gets an incentive. This could be the perfect time to convince him its time to go and maybe get someone in there that has a bit more of a heart towards the division.

    The last couple of Disney park promotions did little to increase domestic attendance. I think the sum of money spent on two years of dreams could have gone towards other additions that could have enhanced the experience of all guests.
    Last edited by Baloo; 01-21-2009 at 03:07 PM.

  15. #15

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    Re: Disney Offers Buyout Packages to Parks and Resorts Execs.

    Is Jay R. on the list?

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