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February 11, 2004

101 Damnations - Part II

Second in a series.

In our last look at the Walt Disney Company, we studied the different aspects of the overcompensation packages for the Board of Directors. We also pointed out the lagging growth of the company.

It now appears that Comcast see's the company for the jewel that the company can be. Today Comcast made a hostile bid for Disney. The fight is on.

This squarely falls on the arrogance of both Eisner and his Board. But, mainly on Eisner.

Consider this;

1) Eisner has failed miserably with preserving the family feeling of the company started by Walt and brother Roy. Most recently the push-out of Roy Disney by the Board of Directors, (Roy being the last visible member of the family in the company, and a symbol of the company's romantic and storied past to all it's employees) has brought flack to both Eisner and the Board.

2) Eisner's apparent arrogance ended a deal between Steve Jobs and his Pixar animation company.

3) Eisner clearly has not left a good taste in the mouth of Comcast CEO, Brian Roberts. Roberts had apparently contacted Eisner and presenting the offer to Eisner, but Eisner snubbed Roberts. Don't expect Roberts to pull-punches now in his takeover attempt.

Now, the "family-friendly" company is being subjected to a hostile takeover which may just fly with institutional investors. What then? Look for a break-up of the company. And, the parks and creativity will be all but lost.

Creative folks have never been huge fans of working for big organizations. Note the lack of creative talent left at Walt Disney Stuidos, Walt Disney Animation, and Walt Disney Imagineering.

What could be most disconcerting is the actual elimination of the Animation and/or Imagineering departments. Buying films and theme park attractions from outside vendors.

This all falls squarely on Eisner and his Board.

Posted at 9:33 AM

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Comments

I sadly agree that Disney in general has slipped into mediocrity...and place that blame squarely with Michael Eisner...the theme parks suffer from a lack of funds while he guts the company coffers..will anyone with any sense realize that the only one fit to chair this once magical kingdom is Roy Disney? Rest in Peace, Uncle Walt......

Posted by: Butch Felthauser at Feb 16, 2004 6:50:47 PM

Are you the Butch whose mom is Judy and dad is Gordon?

Anyway, I believe the original family ideals of Disney fell to the wayside with the death of Walt Disney. What was once a major family influence to the American public has now become a mere money maker for those who took over the company. Morals and ideals are mere words and the fiber of the industry is unraveling. In truth, I believe Roy could have made more of an impact and it would have been better to leave the company in the hands of one who knew what Walt Disney wanted.

Posted by: Nadine at Mar 24, 2005 10:00:52 PM