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It may be worth to write off the loss, just to reset to zero and move forward.
I thought socialists hated all the special breaks and perks big businesses get...
Oh they love perverting kids and butt piates and carpet munchers, well we cant take their bennies away...
Disney better be VERY, VERY careful. If they decide to cause grief for Florida on its debts, Florida can just pass additional laws that squeeze the money (and more) back out of them.
You cannot up and move Disney World to India like you can with your IT employees, Disney.
So he admits that the law, as currently written, let's Disney off the hook.
DeSantis appears to be trying to up the pressure on the board until it throws in the towel and removes the CEO. The problem? I’ll bet the board is handpicked by the CEO. He goes, and they go, once the replacement CEO gets settled. We’ll see.
When Disney sold those bonds, it was their fiduciary responsibility to warn of possible consequences that would negatively affect the bond holders. This tax status was NOT guaranteed therefore they should have warned of this possibility.
(1) The government formed by merger of existing special districts shall assume all indebtedness of, and receive title to all property owned by, the preexisting special districts. The proposed charter shall provide for the determination of the proper allocation of the indebtedness so assumed and the manner in which said debt shall be retired.
(2) Unless otherwise provided by law or ordinance, the dissolution of a special district government shall transfer the title to all property owned by the preexisting special district government to the local general-purpose government, which shall also assume all indebtedness of the preexisting special district.
In sum, the local governments would be responsible for the debts of the Reedy Creek entity - BUT it would also take over ownership of the entity's assets. Does that mean Orange County would take over Disney World??
DeSantis signed into law the protection of young children from the influence of Pedos and Groomers.
Disney responded by pledging the full power of their own legal infrastructure to target both DeSantis and Florida Law.
Disney is now threatening to not pay their 2 billion in debt, and they are also making false allegations that local taxes will go up.
Disney better watch their slimy steps at this point, as anyone in his right mind is FURIOUS at all of these vile actions from them.
In a perfect world, the pedos and groomers at Disney would all slither back to California, pay their 2 billion due to Florida, and Florida would sell the park properties to Nintendo and Sony for a reset on family and child friendly experiences in Orlando.
4 more years...
desantis for florida governor 2022...
florida first!...
Disney sucks.
I’m pretty sure this legislation was fully vetted by the legislature’s counsel, governor’s counsel, the attorney general’s office, and most importantly the state’s outside bond counsel. It’s surprising…or is it…how many are swallowing Disney’s propaganda, probably without ever having read the debt instrument or the enabling legislation.