Any shareholders voting against Bob?

[Maleficent380]

Up until recently I never felt much need to do anything other than vote "as recommended"; after all, Disney was . . . DISNEY . . . and I just wanted to love it and be part of it's world (no pun intended). This year, I actively watched for the notice to vote and have every intention of voting against Mr. Chapek as well as the proposal regarding compensation. I wish there was a resource, easily understandable, where I could find information on the other individual Directors on the ballot. If anyone knows of such a place, I would appreciate the information! I am looking them up individually but the majority of things I am finding are from PR firms, etc.

 

[OKW Lover]

I wish there was a resource, easily understandable, where I could find information on the other individual Directors on the ballot.

The proxy has some information about each director. A google search will probably reveal more info than what is already provided.

 

[_19disnA]

All publically traded companies file various documents with the SEC that can be viewed by the public. Disney's 2022 proxy can be found here..........................

printmgr file (thewaltdisneycompany.com)

 

[GAN]

I just see it as a symbolic vote -and that alone is important, but I won't be voting. I don't support the direction of the parks and don't really like the way Chapek presents himself, but hasn't it been heading in this direction for a while now? Given the fact that the Company has held itself together in really difficult time is impressive. The Board controls the vote and along with Investment Firms -they will decide Chapek's fate ...not any of us, as unfortunate as that may be.

 

[SorcererHeidi]

I won't reiterate my disenchantment with what Disney has become, and how they have lost sight and care for "the show and the magic" (in MY mind, and IMHO) in the last decade or so - done that here too many times. I am in the process of selling all my shares except 1, so that I can hang onto that 1 share, and the beautiful certificate that came with it - part of the whole reason I bought it back in '92 in the first place. As I have always said, and will continue to say - at least for me - some things are MUCH more important than making money.

Every time I have stated my thoughts, and sadness, about what's been going on, I always get "they're a business, they've got to make money, grow/wise up!" or something along those lines - whether that be here, or anywhere else.

Well - I recently went to do my taxes, and was looking for my 10999 from them, thinking I had somehow lost/misplaced it - which stunned me, because I'm pretty organized, especially when it comes to "financial/tax stuff". I knew what the email I'm about to share with all of you was about, because I had called ComputerShare to find out where mine was.

I share the following not to start a debate or anything, although reasonable, calmly stated opinions are ALWAYS appreciated. I'm just sharing because - again - to ME - this says it all - here I am, hurting for myself at all the magic and My Happy Place being lost, all the CM"s that had to be hurt, and knowing so many that will never get to know, and love, the magic of the parks, and the company, that I did. And for what? If they didn't even pay dividends (which I had forgotten whether I got or not - that was NEVER my point for owning shares anyway, and they were not a lot - ever) what's it all been for? Making huge dividends wouldn't have made me any happier about any of it, but this DEFINITELY makes me angry when I hear "they HAVE to make money for the stockholders". So - you hurt SO many people, and yet paid NO dividends? So - what's the rationale now? How are you going to feebly try and placate me, and everyone else that was hurt if you can't throw "having to make the shareholders happy" in my VERY unhappy, disillusioned, hurt, face?

I probably didn't do anywhere near an adequate job on verbalizing how I feel, and have felt, since my last visit in '12. I did vote against Chapek, and the whole entire Board. Speaking with my wallet by not going in almost 10 years, as Pete always says, and by also voting my shares against "the great cost and people cutting machine". I am sad.

Anyway - here is the email I go this morning, which brought this to my mind, and made me decide to post my rambling thoughts - hopefully they made some sense to some:

Dear Disney Shareholder,

Please note, The Walt Disney Company did not pay a dividend in calendar year 2021; therefore, no 1099-DIV tax forms will be issued for tax year 2021.


Thank you,

Computershare Investor Services

 

[GAN]

There was no dividend last year… “Due to guest demand”!

 

[SorcererHeidi]

There was no dividend last year… “Due to guest demand”!

Don't know whether to or . Both apply here.

 

[OKW Lover]

If they didn't even pay dividends (which I had forgotten whether I got or not - that was NEVER my point for owning shares anyway, and they were not a lot - ever) what's it all been for? Making huge dividends wouldn't have made me any happier about any of it, but this DEFINITELY makes me angry when I hear "they HAVE to make money for the stockholders". So - you hurt SO many people, and yet paid NO dividends?

While I understand your frustration with Disney right now, as a recovering bean counter I need to point out that paying dividends, or not paying dividends, has no impact on the value of your investment in Disney.

Imagine you had $20 in your pocket and $500 in the bank. You go to the bank and withdraw $40. You are no better off now than before you did the withdrawal. Your net worth is still $520 ($460 in the bank + $60 in your pocket.

 

[SorcererHeidi]

While I understand your frustration with Disney right now, as a recovering bean counter I need to point out that paying dividends, or not paying dividends, has no impact on the value of your investment in Disney.

Imagine you had $20 in your pocket and $500 in the bank. You go to the bank and withdraw $40. You are no better off now than before you did the withdrawal. Your net worth is still $520 ($460 in the bank + $60 in your pocket.

@OKW Lover - Jeff - Totally understand the math involved, and appreciate your taking the time to post. Like I said - I guess I did a horrible job of saying Disney's "worth" to me has never been, is not now, nor will it ever be, monetary. The argument that I had to accept all the cuts/changes/charging more for less, taking free things away was always used AGAINST me, saying "you have to think of the shareholders". I AM a long-time shareholder, and NEVER cared about making money over something that brought me, and MANY others joy, happiness, magic, memories, etc. So I guess I'm rhetorically asking - if NO dividends were paid while that argument was being used (and has been, over and over and over, in the years since I stopped going, but more aggressively under Coivid Cover) what can the argument be now, since the point is MOOT about the need to "make shareholders money". Trying to make sense in words what makes perfect sense in my mind. And heart. And sad spirit. And I even admit my type of caring/logic/feelings do NOT make sense in today's profit-driven world, but they are my feelings, and they are crushed, and have been, for quite some time. And all in the name of "making a buck". And if no dividends were even paid, that name is more of a poorly-done "business move" that still hurt MANY, methinks.

 

[Prince John Robin Hood]

The stock is way down and there have been multiple recent issues. He will not survive long term in my opinion. Genie+ and parks experiences are getting media attention and it's not positive. The current "don't say gay" bill is bringing significant negative attention. Disney plus is making changes that analysts don't like (ad based membership). Why should he survive?

 

[OKW Lover]

Good comments Heidi. I understand your frustration. I'm frustrated as well. I feel that the current approach is based on management being down in the weeds fighting a quickly changing environment dealing with covid and not paying attention to the long-term.

To be sure, the day-to-day challenges they face in the parks and cruise line are still huge. They need to hire a lot more CM's in order to service an ever rising level of guests. Hiring new CM's can actually have a negative impact on guest experience while the new CM's learn the (traditional) Disney way of customer service. I remember the days when new CM's first went through a full week of "Traditions" in their training. A class that instilled the Disney philosophy in the new CM's. Sadly, that week long training has been reduced to a day. New CM's are left to learn guest relations from their leads. Some of them are good. Some aren't. And we get inconsistent treatment of guests as a result.

However, back to the main point. As management deals with daily challenges in dealing with covid the appear to have sadly forgotten that they need to consider the long-term impact. Disney had always been considered a good value. Yes, it was expensive but people felt they got their money's worth. So Disney built up a lot of goodwill over the years. What is happening today is Disney is trading on that goodwill for expedient (cheap) solutions, depleting what took so long to build up.

 

[SorcererHeidi]

Good comments Heidi. I understand your frustration. I'm frustrated as well. I feel that the current approach is based on management being down in the weeds fighting a quickly changing environment dealing with covid and not paying attention to the long-term.

To be sure, the day-to-day challenges they face in the parks and cruise line are still huge. They need to hire a lot more CM's in order to service an ever rising level of guests. Hiring new CM's can actually have a negative impact on guest experience while the new CM's learn the (traditional) Disney way of customer service. I remember the days when new CM's first went through a full week of "Traditions" in their training. A class that instilled the Disney philosophy in the new CM's. Sadly, that week long training has been reduced to a day. New CM's are left to learn guest relations from their leads. Some of them are good. Some aren't. And we get inconsistent treatment of guests as a result.

However, back to the main point. As management deals with daily challenges in dealing with covid the appear to have sadly forgotten that they need to consider the long-term impact. Disney had always been considered a good value. Yes, it was expensive but people felt they got their money's worth. So Disney built up a lot of goodwill over the years. What is happening today is Disney is trading on that goodwill for expedient (cheap) solutions, depleting what took so long to build up.

Nicely put, much better than I did. Yeah - leadership probably can't even SPELL "Traditions" now. Nor do/would they care to.

 

[GAN]

The other part of the frustration comes from... handing out 10's of millions in bonus cash in a year with financial struggles. Maybe they justify it because they are increasing the lower wages. But as a "shareholder" it's hard to accept no dividend because of financial hardship, but yet spreading wealth at the top. This isn't only a Disney issue, it's the way the system is rigged.

 

[DduzDis]

While I understand your frustration with Disney right now, as a recovering bean counter I need to point out that paying dividends, or not paying dividends, has no impact on the value of your investment in Disney.

Imagine you had $20 in your pocket and $500 in the bank. You go to the bank and withdraw $40. You are no better off now than before you did the withdrawal. Your net worth is still $520 ($460 in the bank + $60 in your pocket.

This is correct if doing the math for 'today' or if one is not reinvesting the dividends, but dividend reinvestment increases total return dramatically over time. It is at a minimum a complete slap in the face of their shareholders as the bean counter in charge laughs all the way to the bank.