• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Disney has lost $50 billion in value since war with Florida began (1 Viewer)

Spunkylama

Requested Profile Delete. Bye
Banned
Supporting Member
Joined
Mar 27, 2022
Messages
2,381
Reaction score
2,028
Gender
Undisclosed
Political Leaning
Undisclosed

The public row between Republican lawmakers and Disney has recently been front and center in the battle over the Parental Rights in Education bill, branded the “Don't Say Gay” bill by opponents.

Initially, Disney did not take a position on the legislation, which would ban classroom instruction of sexual orientation and gender identity through the third grade, but under pressure from investors and employees, the company relented and came out in full-throated opposition to the legislation. Furthermore, Disney CEO Bob Chapek said his company would end political donations in the Sunshine State.



FLORIDA SENATE PASSES BILL REVOKING DISNEY WORLD’S SELF-GOVERNANCE

Now Republican lawmakers are exacting their revenge.

This week in a 23-16 vote, the GOP-led Senate passed the legislation that would dismantle the Reedy Creek Improvement District, which allows Disney to oversee its own zoning, infrastructure, laws, and policing in the area around its parks. The state House also voted to do so by a 70-38 vote.

The legislation dissolves special districts created before 1968 (Reedy Creek was established in 1967). Thomas Smythe, a finance professor at Florida Gulf Coast University, pointed out there isn’t a precedent for Florida undoing a large special district like Reedy Creek and that the change introduces major business uncertainty.

Florida Gov. Ron DeSantis’s office contended that the Reedy Creek district offers Disney unfair business advantages.

“Special districts could in some instances show favoritism,” the office told the Washington Examiner in a statement this week. “Should a corporation be serving as a regulator and a business at the same time? Should a corporation get to avoid standard environmental permitting processes? Should a corporation engage in eminent domain? Other businesses don’t get these privileges.”

Smythe told the Washington Examiner that the move by Republicans could have unintended consequences for taxpayers and a chilling effect on business investment in the Sunshine State.

Reedy Creek reportedly has bond liabilities of between $1 billion and $1.7 billion. Should it be dissolved, those liabilities would likely be transferred to the nearby counties of Osceola and Orange, according to CNBC.

“The debt service alone for Reedy Creek is over a billion dollars,” Democratic state Sen. Gary Farmer told CNN. “This bill makes no provision as to how that debt service is going to be assumed. Local government entities must pick up assets and liabilities of any special district that is dissolved.”

Reedy Creek’s self-governing services are essentially paid for by Disney taxing itself, with the district collecting an estimated $105 million annually. Should Reedy Creek be taken over by the neighboring counties, they would likely end up having to make up for the loss of revenues needed to fund local services in the special district.

“To me, the big issue here is that nobody knows what the repercussions are financially,” said Smythe, noting that taxpayers could end up footing the bill.

Republican sponsors of the legislation have acknowledged that big questions remain about the legal and financial effects of the legislation but have argued that the logistics can be worked out over the coming months.

Smythe said he doesn’t think the decision by Republicans to target Disney sets a good tone for the state, which has touted its business-friendly bona fides. Smythe said that while he doesn’t think it is good policy for companies to wade into hot-button social and political issues like Disney did, the move by the state legislature could spook business investment in the state.

snip
 
What's wrong with their streaming services?

Nothing in particular, streaming services in general are struggling. It was the huge hit Netflix took last week that sent streaming stocks south.

People spent a lot of time indoors during the pandemic, and that meant more popularity of streaming.

Now that more people are getting out, streaming is less popular.
 
Disney received this treatment because Florida didn’t want to pay for any infrastructure or services thereafter, in exchange Disney was self locally governed.

Gee sounds like the GOP would rather have big govt control it.
 
Lt Governor of Florida just flat out said the reason for this revoking of Disney's privilege was revenge for Disney's statement /opinion about Florida's 'don't say gay' law... That's a direct violation of the 1st amendment.whoops...lol

But that's what the current Republican Party has become.. They don't govern.. They have no policies... They are all about revenge and vengeance..
 

The public row between Republican lawmakers and Disney has recently been front and center in the battle over the Parental Rights in Education bill, branded the “Don't Say Gay” bill by opponents.

Initially, Disney did not take a position on the legislation, which would ban classroom instruction of sexual orientation and gender identity through the third grade, but under pressure from investors and employees, the company relented and came out in full-throated opposition to the legislation. Furthermore, Disney CEO Bob Chapek said his company would end political donations in the Sunshine State.



FLORIDA SENATE PASSES BILL REVOKING DISNEY WORLD’S SELF-GOVERNANCE

Now Republican lawmakers are exacting their revenge.

This week in a 23-16 vote, the GOP-led Senate passed the legislation that would dismantle the Reedy Creek Improvement District, which allows Disney to oversee its own zoning, infrastructure, laws, and policing in the area around its parks. The state House also voted to do so by a 70-38 vote.

The legislation dissolves special districts created before 1968 (Reedy Creek was established in 1967). Thomas Smythe, a finance professor at Florida Gulf Coast University, pointed out there isn’t a precedent for Florida undoing a large special district like Reedy Creek and that the change introduces major business uncertainty.

Florida Gov. Ron DeSantis’s office contended that the Reedy Creek district offers Disney unfair business advantages.

“Special districts could in some instances show favoritism,” the office told the Washington Examiner in a statement this week. “Should a corporation be serving as a regulator and a business at the same time? Should a corporation get to avoid standard environmental permitting processes? Should a corporation engage in eminent domain? Other businesses don’t get these privileges.”

Smythe told the Washington Examiner that the move by Republicans could have unintended consequences for taxpayers and a chilling effect on business investment in the Sunshine State.

Reedy Creek reportedly has bond liabilities of between $1 billion and $1.7 billion. Should it be dissolved, those liabilities would likely be transferred to the nearby counties of Osceola and Orange, according to CNBC.

“The debt service alone for Reedy Creek is over a billion dollars,” Democratic state Sen. Gary Farmer told CNN. “This bill makes no provision as to how that debt service is going to be assumed. Local government entities must pick up assets and liabilities of any special district that is dissolved.”

Reedy Creek’s self-governing services are essentially paid for by Disney taxing itself, with the district collecting an estimated $105 million annually. Should Reedy Creek be taken over by the neighboring counties, they would likely end up having to make up for the loss of revenues needed to fund local services in the special district.

“To me, the big issue here is that nobody knows what the repercussions are financially,” said Smythe, noting that taxpayers could end up footing the bill.

Republican sponsors of the legislation have acknowledged that big questions remain about the legal and financial effects of the legislation but have argued that the logistics can be worked out over the coming months.

Smythe said he doesn’t think the decision by Republicans to target Disney sets a good tone for the state, which has touted its business-friendly bona fides. Smythe said that while he doesn’t think it is good policy for companies to wade into hot-button social and political issues like Disney did, the move by the state legislature could spook business investment in the state.

snip
What's the saying?

"Get woke...go broke." Or something like that.
 
People spent a lot of time indoors during the pandemic, and that meant more popularity of streaming.

Now that more people are getting out, streaming is less popular.

This is the right answer.
It's happening everywhere and has bugger all to do with Florida.
 
Disney needs to stop acting like a political party and start acting like a children's entertainment venue. Then maybe it's stock will stop falling like the Russian economy.
 
Disney needs to stop acting like a political party and start acting like a children's entertainment venue. Then maybe it's stock will stop falling like the Russian economy.
Agreed - they should stick to what they do best - after making them pay an inordinate sum just to get in the park, then wait in virtually endless lines, simmering in the heat and humidity of central Florida - drive drive insane with monotonously repetitive kids songs:



(Songs which, btw, will never leave your head for the rest of your lives)
 
Disney needs to stop acting like a political party and start acting like a children's entertainment venue. Then maybe it's stock will stop falling like the Russian economy.
So much for Citizens United...Republicans need to make up their minds.
 
Agreed - they should stick to what they do best - after making them pay an inordinate sum just to get in the park, then wait in virtually endless lines, simmering in the heat and humidity of central Florida - drive drive insane with monotonously repetitive kids songs:
I think that that should be the theme... song for Trumpers....It's a Small, Small world.....
 
Sad thing is the working class people who live around Disney just got stuck with a $1.5 billion tax bill... All because of DePutins culture war... All because Disney had a different opinion... The other sad thing is many of the people who got stuck with that tax bill will still vote Republican... Lol

Can't fix stupid..
 

Users who are viewing this thread

Back
Top Bottom