Posted on 04/03/2024 10:36:06 AM PDT by Miami Rebel
Walt Disney will hold its annual shareholder meeting in Burbank, Calif., on Wednesday at 1 p.m. ET. Usually a sleepy affair, this year’s meeting comes amid a high-profile proxy battle between the company and activist investor Nelson Peltz’s Trian Partners. Disney looks set to win the battle, but the stock is dropping anyway.
Disney was ahead in the still-underway voting on Tuesday with more than half of the votes counted, according to a Wall Street Journal report citing people familiar with the matter. Shareholders can still change their votes until the annual meeting closes.
Trian is agitating for changes at Disney that it says will boost free cash flow and improve returns. The company argues that its strategy is already working and that the hedge fund’s proposals are unnecessary and would be disruptive.
(Excerpt) Read more at barrons.com ...
There was probably less pressure since the stock has rebounded over 30% from its lows. Peltz would've won had the vote been taken in December.
IOW, more box office bomb ‘woke’ loser movies......................
Will Disney stop losing money when they stop making what they call Movies ?
Chernobog wins this round. Fire up the ovens to celebrate. The Mouse is dead.
Good. The company is unsalvageable. Better it self destructs and its IP gets sold off to PE.
Management defeated Peltz.“
From what l’ve read it was a rig job. Would that surprise anyone?
Was Peltz wanting to bring Disney away from indoctrination and go back to entertainment and making money?
Who knew Women Superheros don’t sell
Final nail in Disney's coffin and in any idea that our "elites" are worthy of respect.
Peltz might just have wanted to cut costs. I heard nothing from his team about getting rid of the woke.
Barron’s has one of those “verifying your device” pages before telling you that you can’t read the article. Screw them.
I am proud to say I convinced two young families to remove Disney from their list of potential vacation sites. It wasn’t difficult - Disney is super-expensive, its crowded, wait times are outrageous, and its culture is now a pro-LGBTQ woke dumpster fire
Its small, but every little bit counts
Vanguard defends ESG and DEI once again. The WEF rules all.
From Forbes:
“Disney just tallied its most profitable quarter since 2019, reinstated dividends for the first time since early 2020 and said in January it expects to generate more than $8 billion in cash this fiscal year, well above 2023’s $5 billion but far below 2018’s $10 billion, thanks in part to narrowing streaming losses, with many analysts celebrating Disney CEO Bob Iger’s honing in on the company’s bottom line.”
Iger is one of the most widely-respected CEOs and his return to Disney is why Peltz was swimming upstream in trying to gain control.
Money isn’t always political.
As you can see, the public workers of California voted with the insurgent slate.
“Prior to the vote, Peltz secured the backing of influential proxy advisory firm Institutional Shareholder Services (ISS), along with notable shareholders like the California Public Employees’ Retirement System (CalPERS), the country’s largest public pension fund; Neuberger Berman, a global asset manager and fellow activist Ancora.”
This year, more grumpy and dopey.
I would love to see this company go out of business.
Apparently they removed those “Magical Creature” dwarfs from the movie and added in CGI dwarfs similar to the original movie after getting an earful about it.
Actually, I think the movie could work as a parody. If they could get one of the actors to play one of the "dwarfs", maybe like Chris Tucker or Chris Rock. The time to make the movie would have been 10 or 15 years ago before all the woke nonsense. Nowadays, they can't even make jokes anymore lol.
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