But you don't take $71 billion out of a $2.5 billion after tax annual income in one fell swoop.
Disney most likely borrowed money for the $71B purchase and will repay over a couple of decades with dollars that predictably will be devalued via inflation. The interest rate is low I'm guessing.
That is one reason it is wrong to compare Disney's payments over decades with Florida's annual budget of over $100 billion.
I have acknowledged that Disney is very, very powerful and dangerous company. And corrupt.
I'll concede this too: A Republican governor like Charley Crist, or Jeb Bush would not have a chance standing up to the plastic rat. Neither would a Governor discostu.
Not one of those - and maybe few Republicans in the current Florida legislature - has the knowledge or inclination to stand up to the plastic rat.
They would be scared; you are scared of the plastic rat. I am not going to criticize you for being scared.
Ron Desantis is not scared. Lead on Governor.
$2.5B profit on a down year shows Disney is a company that’s regularly getting billions.
No Disney didn’t borrow for that. They have a war chest. They have a MASSIVE war chest. Keep in mind that was just the most recent, and highest priced acquisition. $4B for Lucas. $4B for Marvel. $7B for Pixar. $10B for 33% of Hulu.
Now most of these deals are probably a mix of cash and stock. But they’re still at least 50% cash NO LOANS. There’s nobody out there to bankroll those kind of loans.
I wouldn’t be dumb enough to get into a pissing contest with Disney. I can see in the Improvement Act that this is a no win situation. Especially when we all know how the news cycle works and all this kerfuffle about the “gay bill” will blow over by tax time.
I’m not scared of the plastic rat. I understand basic math. And I understand how Disney will have a few meetings, lay out some options, and cause these idiots in the legislature rattling their sabres to realize this is a dumb hill to die on. Guarantee this goes NOWHERE. This article will be the last you see of it. By this time next week reality will have been explained to them.