CardinalJim
Welcome to The New Age
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I Root For: Louisville
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RE: Disney CEO Re-Ups
This thread should be moved to The Spin Room before it gets out of hand
(This post was last modified: 11-21-2022 07:29 PM by CardinalJim.)
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11-21-2022 07:29 PM |
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Hokie Mark
Hall of Famer
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I Root For: VT, ACC teams
Location: Greensboro, NC
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RE: Disney CEO Re-Ups
(11-21-2022 05:33 PM)green Wrote: (11-21-2022 03:04 PM)CatsClaw1 Wrote: (06-29-2022 07:08 AM)curtis0620 Wrote: Get Woke, Go Broke
This thread is pretty sad. The people using that term are clueless to its meaning.
https://twitter.com/feeonline/status/159...9761645568
what are you ...
some kind of chinese communist sympathizer ...
WITH US OR AGAINST US
So a wealthy Christian who wants to help the less fortunate is now labeled a Communist. What has become of the world?
SMH
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11-22-2022 09:16 AM |
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Gitanole
Barista
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I Root For: Florida State
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RE: Disney CEO Re-Ups
Congrats, Mr Iger. Pay ACC schools more.
Thanks, Mr Chapek. Great haircut.
(This post was last modified: 11-22-2022 12:59 PM by Gitanole.)
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11-22-2022 09:45 AM |
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orangefan
Heisman
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I Root For: Syracuse
Location: New England
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RE: Disney CEO Re-Ups
(11-21-2022 03:54 PM)SouthernConfBoy Wrote: (11-21-2022 02:51 PM)orangefan Wrote: (11-21-2022 12:27 PM)green Wrote: (11-21-2022 12:00 PM)CardinalJim Wrote: “ stunning turn of events” ? To whom?
https://twitter.com/sunnyright/status/15...7546955776
DON’T SAY MY NAME IN VAIN
Still not clear that eliminating the Disney special district has hurt Disney or helped the citizens of Florida. Somebody has to pay the $1 billion in bonds that the district owes. Without a replacement district, Orange County taxpayers will have to assume the debt. The best case would be to create a replacement district with the Governor appointing the trustees so that Disney would remain on the hook for the debt. However, this has not been done yet to the best of my knowledge. If he doesn't do this, he screws the taxpayers of Orange County.
On the other hand, Disney had announced the construction of a new $1 billion corporate headquarters in Central Florida that would employee thousands of employees at average salaries of over $100,000. Since the elimination of the Disney special district, this entire plan is now on hold.
The whole thing appears to do way more to hurt the citizens of Florida than to help them. However, with respect to the tweet, it clearly has not blown up on Desantis. It also seems unlikely to do so given that there is a clear path for resolving the "who owes the debt" question.
What is that clear path?
The clearest path I see is that the State of Florida attempts to stick it to Orange County ratepayers. I say ratepayers because the underlying bonds are not General Obligation Bonds, but Revenue Bonds for an Enterprise. The full faith and credit of the County is not on the line. That allows the County to stiff the bondholders or dribble out the debt payments over an extended period of time. Of course the State could incorporate the district with some residential subdivisions in the area where people beholden to Tally and who hate Disney live, allowing an actual elected governing board to come into being - one friendly to the Governor.
It's bad public policy because Disney is smarter than the State of Florida and all DeSantis has done is toss Bre'r Rabbit into the Briar Patch. Freed of the special district, Disney can in fact move to Georgia, NC, SC, Alabama, etc. Not saying it is likely, but the district was the biggest anchor.
The clear path is that the Legislature can reconstitute the special district with all of the trustees appointed by the Governor. Disney is back on the hook for the tax payments to cover the bonds, but would no longer control the board.
The real benefit of the district to Disney is the ability to use tax exempt financing to fund infrastructure improvement and services within Disney World. That horse is out of the barn on this. If the district is dissolved without replacement, these responsibilities simply transfer to the Counties. This outcome would be fine with Disney as it relieves them of most of the cost responsibility for the assets that have been constructed.
A second level benefit to Disney is the fact that it controls the district. All of the trustees are Disney employees, members of their families, and possibly some retirees, who live in the handful of homes located within the boundaries of the district, all of which are owned by Disney. Hence, Disney has absolute control of the decisions of the district. Creating a replacement district with trustees appointed by the Governor takes away that control.
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11-23-2022 11:32 AM |
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