Might as well have a topic exclusively for the shareholder meeting, taking place at this time.
The webcast page is The Walt Disney Company and Affiliated Companies - Presentations
The Board has been introduce, and Bob Iger is scheduled to speak next.
D23 expo announced by Iger - August 19-21, 2011 in Anaheim.
Here's a summary of what has been mentioned so far,
Iger said they are proud to represent the Disney, Pixar, ABC, and now Marvel brands.
Acquired Marvel Entertainment
Growth anticipated with agreement with China to build a new park in Shang Hai
Severe consumer economic downturn, and Disney has made adjustments during this time
Proud of Pete Doctor and Pixar's work on UP, winning 2 academy awards for best animated feature and best musical score
Also proud of Princess Tiana from Princess and the Frog becoming one of Disney's most popular princesses
Alice posted the largest 3D opening weekend
Iger introduced an exclusive look a several minutes of Toy Story 3 (a scene from the daycare center) - ( FYI, the online webcast did not broadcast any part of Toy Story 3, so I cannot give you any updates on that)
Toy Story 3 is opening June 18th.
2009 was not as strong they wanted, income was down from it's record high, by 25%. 2009 was more of adaptation, rather than growth.
These are the big movie that Disney is looking forward to releasing this year:
Prince of Persia
Toy Story 3
Sorcerer's Apprentice
Iron Man 2
(Went to another clip of one of those movies.)
Tron is Disney's December's release.
Pirates of the Carribean - on stranger tides - May 2011
Tangled - this thanksgiving
Cars - June 2011
Hawaiian resort under construction
New ship for
Talked about high rated ABC tv shows
Talked about Disney Channel - expanding worldwide
ESPN is incredibly valuable -
Give a Day Get a Day mentioned - has increased volunteering
D23 and it's EXPO - Aug 19-21, 2011
Single annual pass for all US Parks IS now available!
Iger mentioned the passing of Roy Disney, his son Roy Patrick Disney was introduce by Iger
Two Big pieces of info announced for New Combined Annual Pass and the Date of the 2011 D23 Expo!
(Meeting continues just wanted to update topic on what has been announce so far.)
Another video
They are covering the administrative duties right now:
Election of 13 directors - no discussion from stockholders
1,935,600,000 shares of stock (I Rounded off the number of shares)
Price Waterhouse is the CPA firm - no discussion from stockholders
Stock Incentive Plan - increasing available number of shares available for incentive plans- no discussion from stockholders
Reducing number of shares needed for approval on various items - 3 different amendments. - no discussion from shareholders
Restatement of Certificate of Incorpation - just updating the bylaws showing that the board is elected on an annual basis - no discussion from shareholders
two shareholder amendments
Proposal to Walden Asset Management - regarding executive pay, which would require a advisory board on compensation. the Board has recommended a no vote, already a extensive compensation is done.
Ex Gay amendment - presented by and Ex Gay. Says Ex Gays are discriminated against. And asking for inclusion in equality and be included in diversity training would cost nothing to include. Currently Gays, Bisexuals, and Transgenders are included, but ExGays are not included. The board said Disney is non discriminatory (listed a lengthy list of non discimination categories) and recommended a no vote on this resolution, "due to different nuances" this amendment would create. No further discusion from shareholders.
The voting on these items will close at the end of this meeting, and then the votes will be tabulated.
Wow - over 1 billion proxy shares were voted.
Neither shareholder proposal was approved. The controversial discrimination proposal only received about 2% of the vote (unless I heard the audio wrong).
Just announced, in response to a question, that there will be no global pass.Originally Posted by Aladdin
No plans to release Song of the South.
Summary of questions from shareholders, and their responses (this is NOT a word for word transcript)
George ( a cast member at the DL Hotel ) no union contract, due to health care package, he pays $500 per month for healthcare insurance. Federal Mediator was appointed as per an agreement with the union, and Disney was informed by the Federal Mediator not to discuss the negotiation.
Mike ( from Florida) - Talked about Journey to Imagination, Dreamfinder and Figment, Mike didn't like the changes to the attraction in 1998, nor the changes in 2002. Mike wants to have Dreamfinder return. Iger responded that they did look at adding Dreamfinder back, but no addition acceptable plans emegered. Iger said he would inquire in Burbank if any additional ideas have been developed
from a member of the union negotiating team - family health care question - Iger reiterated that Disney was advised by the federal negiator not to discuss this.
Bellman from the DL Hotel - another question about the employee union negotiations
little girl name clory - asked for merchandise for little girls for Cars 2.
Ken Shareholder from Houston, just returned from Afganistan - thanked Disney for military family benefits. Iger said this program will continue, and Iger is proud of this program, and receives several compliments about it.
shareholder - thanked Disney for comprehensive and truthful reports, and requested improved of wages of Disney employees.
shareholder - will ABC or is news department be split from the disney company.
Iger is proud of the current mix, but always looks for growth opportunities. Proud of ABC news and it's product, and abc news has stepped up to the current challenges, and abc news is very important to ABC.
shareholder - disney stores have become stagnant, what improvements can be done. Iger said they are implementing an improvement in quality, it is in final stage design, and expected to introduce spring 2011
eric shareholder - when will shang hai open, and will there be a global pass. Iger said some complexities in a global pass but a US pass for DL and WDW was introduced today. Shang Hai has not set an opening day yet,
roger shareholder - difficulties in obtaining WDW restaurant reservations in the restaurants, partly due to the dinning plan, Rasulo said they are aware of the issue and are working on it
shareholder - asked about fast passes for the fantasyland attractions. Iger said if a ride reservation would be added, it would max out early in the day, so its better to just use the regular line. Iger also mentioned WDW will eventually have 2 Dumbo rides.
shareholder - asked for dvd and blu ray, release of Song of the South. they have considered on and off for over 4 years, and he has screened it twice. The subject matter seems antiquated and parts of it may be considered offensive by part of the public. Snow White Blu Ray sold over 6 million copies, so they look forward to continued releases on blu ray
shareholder - she is a diabetic, but she cannot find food or drinks in the parks for the diabetic community. Iger said they launched a healthy foods program in 2007, primarilly to children. shareholder said there are some diabetic candies she would like Disney to offer. Iger said they would look into it.
Shareholder - question regarding on passage is determined by total voting, or on total shares. Iger said they determine the percentage by total shares,
Shareholder - would like Queen Ester to be considered for a Disney Animated movie. Iger said do consider various sources, but none for queen ester are being developed now.
Shareholder - any other Disney resort in Mexico. Iger said they looked at Latin America, but not Mexico. But Disney appreciates how Mexico is a large consumer of disney products. and Iger said the US parks do serve many people from mexico.
Austin Disney Store cast member - why no clothing for adults in the Disney Store, but the Disney Store is extremely limited. Why does Disney associate themselves with companies that have bad customer service, problems with the "Cars" tv. Iger said they do want to know if there are any issues with any disney products to let disney products know, so they can addres the issue with the manufacturer. Regarding the Disney has such a wide variety of products that the Disney Stores will focus on Quality rather than Quantity, and on Childrens merchandise, not Adult merchandise. they will have a wider variety of merchandise on line, though.
shareholder - wanted more disney video releases from older Disney programs and series, and current programs on the Disney channels. Iger says they do look at at releasing certain programs in set, and mention the collectors sets that come out annually.
end of questions.
>>shareholder - asked for dvd and blu ray, release of Song of the South. they have considered on and off for over 4 years, and he has screened it twice. The subject matter seems antiquated and parts of it may be considered offensive by part of the public. <<
So if they have relinquished commercial exploitation of the picture, it should now be in the public domain?
Overall, Iger did just an ok job anwsering questions.
He was asked twice about The Disney Stores, and he didn't even go into what some of the big plans were for the store. Both times Iger only said they were going to focus in on quality, not quantity. When asked a 2nd time, Iger said they are going to focus on being store for childen, and not focus on adult merchandise. the Disney Store Cast member followed up and said, the stores have 3 adult shirts with Mickey, 2 or 3 with grumpy, and a Jack Skellington Shirt, alway just the same character, they guests want a better variety. Finally they did say to check online for additional merchandise. Sounds like they are just ignoring their adult market, that's really sad.
Another disappointing anwser was Iger being so admimant this year, about NOT releasing Song of the South on video. Iger basically said it wouldn't financially benefit Disney enough, and it would make too many people angry. Although Iger has screened the movie 2 different times to make that decision.
And clearly, Iger doesn't have any plans to increase the number of videos being sold of older Disney programming, being that from the 50's and 60's or of the last couple of decades. Although it sounds like the collector sets released around the beginning of December will continue, So I wouldn't really expect many of the older Wonderful World of Disney tv shows to be released anytime soon. Nor would i expect to see any more of the older Disney Afternoon show's from the 90's or 2000's to show up on video
I understand that they couldn't really address the concerns of the employee union, since that matter was turned over to a federal negotiato. 4 of the questions were directed to that topic, but Iger handled those questions fine.
As for WDW restaurant reservation problems. Iger handed that question over to Rasulo, and all Rasulo said is they are aware of the problems with restaurants getting booked up, and are working on it. That really didn't provide much confidence
There were a couple of left field questions, but nothing that great.
One question in particular, seemed like a plant. Someone asked about adding fastpasses to dumbo and other fantasyland attractions at disneyland. Iger explained the fastpass wouldnt work for fl attractions, but that at WDW they will be soon have 2 Dumbo attractions. What was surprising is that Iger thought the 2 Dumbo rides planned for WDW would be BIG news for Disney Fans. Did he forget that was announced at D23 last fall????? Iger seemed to be a little out of step with that answer.
He did mention D23 at several differnt times throughout the Q and A, and was bragging about the D23 magazine. That appears to be a focus for him having Disney reach out to the fan community.
I'm a little surprised no one asked about additional detail about what to expect with Marvel, and growing that relationship. And it would be interesting to know the status of the Marvel Theme Park in Dubai. Even though Iger mentioned Disney theme parks a few times, including China, and a question he received about expanding to Mexico, that Iger didn't mention Dubai for Marvel. wonder what the deal is with that??????
This is a really good question. I think it deserves its own thread and a petition to have it placed in the Public domain.
I'm kinda surprised there wasn't anything mentioned of the LOST-themed Disney attraction petitionthat has been floating around the internet.HTML Code:http://www.petitiononline.com/lostdisn/petition.html
Sounds like it was a good meeting. Sorry to hear they're not going to be more adult with the Disney stores. I really think they're missing the boat there.
Very excited to hear they're doing another Expo and that it will be here on the west coast.
Maybe they should just send out Song Of The South as the gift with the D23 mag and just let us spread it around.
My website: www.RoadsideAttraction.com
I wished someone asked about the film contraction... And really nail him on performance of the studios... disappointed.
Check out my other blog:TheGrumpyCritic on Twitter
Yeah, Iger spent some time talking about the movies in produtions, but I don't recall that he mentioned anything about getting rid of Dick Cook.
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