Posted on 04/25/2022 5:33:41 AM PDT by blam
Disney’s market cap has shrunk by nearly $34 billion since the company expressed its full-throated opposition to a Florida law banning instruction of gender identity and sexual orientation in public schools for kindergarten through third grade.
Florida lawmakers in March passed HB 1557, dubbed by opponents as the “Don’t Say Gay” bill, which was signed into law by Gov. Ron DeSantis on March 28.
That same day, Disney waded deeply into the controversy, issuing a statement highly critical of HB 1557 and saying it was the company’s objective to have it repealed.
From March 28, the day the company issued the statement, to April 22, Disney’s market cap has fallen by around $33.9 billion.
Backers of the legislation say it gives parents more power around deciding how and when topics relating to LGBTQ issues can be introduced to their children. It also gives parents the opportunity to sue school districts for violations of the rules set out in the legislation.
“Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards,” the bill (pdf) reads.
DeSantis said on March 28, the day he signed the bill, that “parents have every right to be informed about services offered to their child at school, and should be protected from schools using classroom instruction to sexualize their kids as young as 5 years old.”
On the same day that DeSantis signed the bill, Disney issued a statement saying that “Florida’s HB 1557, also known as the ‘Don’t Say Gay’ bill, should never have passed and should never have been signed into law.”
Disney added that it was the company’s goal “for this law to be repealed by the legislature or struck down in the courts.”
Disney’s declaration of opposition to the bill prompted some parents’ groups to call for boycotts of the company’s products, movies, theme parks, and shows.
Based on 1.82 billion outstanding shares and on the March 28 share price of $136.90, Disney’s market cap stood at some $249.2 billion. With its shares having fallen to $118.27 on April 22, Disney’s value as measured by market capitalization has declined to $215.3 billion, a drop of $33.9 billion.
On April 22, DeSantis signed a legislature-passed bill to dissolve Walt Disney World’s self-governing status in Florida, with potential tax implications for the company.
DeSantis on Friday made reference to Disney’s pledge to have HB 1557 repealed.
Agree. Avoid Dizzney at all costs. Needs to have financial fork stuck in them. Many, many, many, other entertainment, and truly educational options.
Or repent and change their ways. $34 billion paper loses is nothing. They profit from attendance, and I have heard nothing about them getting hit in the wallet.
They won’t change because they don’t need to.
They’ll still pull in tons of money.
The ends justify the means comrade.
I live in Central Florida where Disney is a huge economic player. From what I can tell, Disney is betting on the new, woke generation to replace normal families. They believe that woke culture will be the new culture and want to be at the forefront.
If they’re right- we’re already done. If they’re wrong- there’s some hope.
I use to live in Tampa, now in Madison County and mostly Democrat territory. It is changing though. Been to Disney twice in my life. Will never go back. They can have all the LGBTQXYZ’s they want because I won’t ever be there to see it. I think over time they will find that the 1-2% of the country they will attract will not keep the doors open.
Almost certainly true. The book of Revelation foretells some terrible events, a third of humanity wiped out to pick one, and still the people do not repent.
Freud was correct on so many things to include that homosexuals are often damaged by older homosexuals - this is how they reproduct through trans - mission of the act itself. No one who frequents prostitutes wants to pay for old flesh, they covet the young and beautiful. Gays hate themselves and if they believe in God they end up hating His children as well. The age of innocent is givng was to the age of deceit.
The US stock market along w chinas is getting raked over the coals. Panic sellin has set Jin due to war and pestilence. Next fear is famine. This is the time to prepare for civil unrest including rood riots. I’m waiting for the big cities to burn because the minorities can’t get food. History has sown us that when food becomes scarce, only the well armed are survivors.
Stay away from children? Hello! Disney entertainment IS for children.
“Disney’s market cap has shrunk by nearly $34 billion since the company expressed its full-throated”
admission of child grooming and perversion 🤪
And this is all about the left having a temper tantrum because teachers are being told not to talk about their sex lives to little children.
Time for a change in leadership. This incompetant CEO let the perv inmates run the assylum. The same thing is happening in our universities, but those pervs have tenure.
Amen.
“9 year’s old not, not 8.”
Oh, well, that’s okay then. I feel much better.
I’ll admit to being a 63 year old guy and I’ll say this about sex education of any kind in (pre college) school. I went to a Catholic High School and my class was introduced to a pretty straight forward sex education course as part of our biology curriculum in our sophomore or junior year. Long story short, it was cancelled after one week. We (just the guys really) were total asses and way WAAAY to immature to handle it.
What they are talking about putting into the heads of kids as young as kindergarten is unimaginable to me. It seems clear to me that these children’s minds are far too young to process these topics and will most likely be damaged by it. Anyway that’s my opinion.
Disney proves stupidity doesn’t come cheap.
Too bad someone wealthy doesn’t buy it and turn it into America First Disney.
“I hope they lose more. What was once great is now utter garbage. They deserve destruction, it was self imposed.”
When hubby and I took our two boys to Disneyland way back when, it was great; but there is NO WAY I would ever take a child there now. Walt Disney must be spinning in his grave.
Totally family friendly, and the cartoon movies were great.
Everything woke turns to shit.
Most liberals don’t believe in something, they’re just contrarians to decency.
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