The Disney company has been making headlines a lot lately.
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Bob Iger, Disneyโs CEO,ย has been in the news for comments on Disneyโs โWokeโ agenda and his exit as CEO in 2026. There are also the public comments that Elon Musk, CEO of X/Twitter, has made about Bob Iger, like, โHe should be fired immediately.โย Now, Disney is losing $105 Million from an investor.
According to Fox Business, South Carolinaโs State Treasurer, Curtis Loftis, says the stateโs $105 million in Disney debt securities will not be renewed upon maturity.ย In an interview with Fox Business, Loftis says, โI think itโs clear to anybody paying attention that thereโs a structural rot inside of Disney. Itโs deep, itโs pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it canโt be fixed.โ
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The largest issue, according to Loftis, however, lies not in the policies themselves but in the individuals at the helm of the company. โThe sane, sober, talented, mature people are gone, and now you have the gender studies crowd running Disney,โ he explained. โThatโs why their movies are flops, and their market cap, I think, is about half what it used to be. Itโs a tremendous loss to America; we all grew up on Disney.โ
ยฉReuters | Disney CEO Bob Iger
So, how is the company financially doing right now? On November 8th, 2023, Disney held its fourth-quarter earnings call, which also included a look at the full fiscal year. At this earnings call, Disney shared some insight into all the financial happenings within the company. Overall, the Disney company reported the following results for Q4 of FY23 and for the fiscal year in general. Revenues for the quarter grew 5% and 7% compared to the prior year quarter and prior year, respectively. Bob Iger even went as far as to say that the future for shareholders is bright.
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Disney shares trade at $92.56 apiece, reflecting a nearly 4% rise year to date. However, the stock is still down over 50% from its all-time high of $201.91 recorded in March 2021. While Loftis acknowledges the pull of investment wonโt hurt the company, he states that it is about principle. โWeโre not going to cause Disney any real harm,โ he said, โI just want other people to see that you can stand up to these people and you live to invest another day. There are plenty of good investments out there that arenโt as risky as Disney.โ
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Elon Musk and Mr. Loftis are both, respectively, 100% correct.
Thank you Mr. Loftis! Your insight on Disney is spot on!
Another right wing Don Quixote governor fighting windmills. Perhaps the GOPutin party should at least try to govern rather than playing politics.
More political retaliation. Apparently Loftis and DeSantis are buddies. Itโs sad that grown adults cannot act like professionals, but instead love to continue to pile on and retaliate whenever an organization takes a stance they donโt agree with. He likely is just doing something to get a lot of attention in preparation for running for a new office so he can point to โGee, look what a tough guy I amโ. I donโt think most of the country has any concern for anything that South Carolina does.
Loftus is just another self proclaimed culture warrior spouting political based nonsense.
Yet another politician making a decision because he wants King Donaldโs future approval instead of whatโs best for his state.
Pale, stale, fragile male throws his toys out of the cot because a company dares to be fair, open and inclusive. His little tantrum doesnโt even align with reality. So his toxic XY dinosaur prejudices just cost his constituents a lot of money. Maybe time to look at the rot inside Loftisโ organisation and the South Carolina state legislature more broadly.
Oh yes, letโs keep Disney & the US firmly in the 1950s.๐๐๐