Disney Pulls Plug on $1 Billion Development in Florida

[Right_in_Virginia]

Disney Pulls Plug on $1 Billion Development in Florida
NY Times, May 18, 2023

In March, Disney called Gov. Ron DeSantis of Florida “anti-business” for his scorched-earth attempt to tighten oversight of the company’s theme park resort near Orlando. Last month, when Disney sued the governor and his allies for what it called “a targeted campaign of government retaliation,” the company made clear that $17 billion in planned investment in Walt Disney World was on the line.

“Does the state want us to invest more, employ more people, and pay more taxes, or not?” Robert A. Iger, Disney’s chief executive, said on an earnings-related conference call with analysts last week.

On Thursday, Mr. Iger and Josh D’Amaro, Disney’s theme park and consumer products chairman, showed that they were not bluffing, pulling the plug on an office complex that was scheduled for construction in Orlando at a cost of roughly $1 billion. It would have brought more than 2,000 Disney jobs to the region, with $120,000 as the average salary, according to an estimate from the Florida Department of Economic Opportunity.

The project, known as Lake Nona Town Center, was supposed to cost $864 million, but recent price estimates have been closer to $1.3 billion. Disney had planned to relocate as many as 2,000 employees from Southern California, including most of a department known as Imagineering, which works with Disney’s movie studios to develop theme park attractions.


More:
https://www.nytimes.com/2023/05/18/business/disney-ron-desantis-florida.html?smtyp=cur&smid=tw-nytimes

[roamer_1]

If it was up to me, there's be a wide moat around Reedy Creek and flyover restrictions.

See how the homo groomers like that.

[Kamaji]

I rather doubt that Florida is going to go hurting for alternative investment sources.

[cato potatoe]

It's a shame that Disney is forced to economize after a spate of bad decisions, but those 2,000 democrats need to stay the hell in California.

[Cyber Liberty]

It's working.

[Sighlass]

Lol, the costs in California will be triple that... good riddance.

[Hoodat]

Another win-win for DeSantis and the State of Florida.

[libertybele]

Another win-win for DeSantis and the State of Florida.

 

[Right_in_Virginia]

It's a shame that Disney is forced to economize after a spate of bad decisions, but those 2,000 democrats need to stay the hell in California.

. It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

It would have brought more than 2,000 Disney jobs to the region, with $120,000 as the average salary, according to an estimate from the Florida Department of Economic Opportunity

[Hoodat]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

I'm afraid I'm gonna have to disagree with the NY Times on this one, @Right_in_Virginia

[roamer_1]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

In the homo grooming industry? Who wants that?

2000 gambling jobs?
2000 prostitution jobs?

Thanks but no thanks.

DeSantis is right. And Right.

[Right_in_Virginia]

Miami mayor says DeSantis ‘personal vendetta’ with Disney is costing state
The Hill, May 18, 2023

Miami Mayor Francis Suarez (R) blasted Florida Gov. Ron DeSantis (R) for his “personal vendetta” with Disney, saying that the yearlong feud has cost the state jobs and investments.

“Look, he took an issue that was a winning issue that we all agreed on, which was parental rights for K through third-graders,” Suarez told NewsNation’s Blake Burman on “The Hill.” “And it looks like now it’s something that spite or maybe potentially a personal vendetta, which has cost the state now potentially 2,000 jobs in a billion-dollar investment.”

Suarez’s comments come after Disney announced Thursday that it would be tossing its plans to build a new billion dollar office complex in Florida that was set to bring thousands of jobs to the region.

“I mean, that’s the kind of stuff that Joe Biden does, you know, he canceled the Keystone pipeline and other pipelines out of spite that cost Americans 42,000 jobs,” Suarez said, speaking of DeSantis. “And you know, one thing that he has in common with the president is he hasn’t spent much time in the private sector. And I wonder if that influences his thinking on some of this stuff.”


More:
https://thehill.com/homenews/state-watch/4011492-miami-mayor-says-desantis-personal-vendetta-with-disney-is-costing-state/

[Smokin Joe]

Spin it or whatever, Miami Mayor. Americans haven't lost those jobs, they will be right there in California. Last I heard, despite the rumors, California is still part of America. Besides, the gays and groomers are more likely to feel at home there.

[roamer_1]

Get woke go broke. And good riddance.

[Hoodat]

More:
https://thehill.com/homenews/state-watch/4011492-miami-mayor-says-desantis-personal-vendetta-with-disney-is-costing-state/

Sorry, I'm afraid I'm going to have to disagree with The Hill on this too, @Right_in_Virginia .

[cato potatoe]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

Those people were being transferred, against their will in most cases.  Disney would not offer high paying jobs to icky poo Floridians.  Hard pass on 2,000 smug “imagineers” and their tacky office building.  They can stay out west and imagineer the Black Snow White log flume for Disney Shanghai.

[Hoodat]

I seem to recall a much different tune when it was the Commonwealth of Virginia blocking a Disney theme park from being built in Manassas.  Couldn't find a NY Times hit piece on that?

[Right_in_Virginia]

Those people were being transferred, against their will in most cases. 

So?  Would these 2,000 not need to pay for housing, furnishings,  buy food, clothing, pay taxes?  Wiould they not dine at local restaurants,  enjoy local entertainment?  Would they not have a salary sufficient to support doing all of this?  Would local business not benefit?

[cato potatoe]

So?  Would these 2,000 not need to pay for housing, furnishings,  buy food, clothing, pay taxes?  Wiould they not dine at local restaurants,  enjoy local entertainment?  Would they not have a salary sufficient to support doing all of this?  Would local business not benefit?

Tell you what … recruit them to northern Virginia.  They will fit right in.

[Hoodat]

From the NY Times article:

When he announced the project in 2021, Mr. D’Amaro cited “Florida’s business-friendly climate” as justification.

Mr. D’Amaro’s tone in an email to employees on Thursday was notably chillier. He cited “changing business conditions” as a reason for canceling the Lake Nona project. “I remain optimistic about the direction of our Walt Disney World business,” Mr. D’Amaro said in the memo. He noted that $17 billion was still earmarked for construction at Disney World over the next decade — growth that would create an estimated 13,000 jobs. “I hope we’re able to,” he said.

The memo, which was viewed by The New York Times, did not mention Mr. DeSantis.

Also buried in the article:

The Lake Nona project had initially been scheduled to open next year. Last July, Disney pushed back the move-in date to 2026, citing pandemic-related construction delays.

The Lake Nona campus, about 20 miles from Disney World near the Orlando International Airport, had been championed by Bob Chapek, who served as Disney’s chief executive from 2020 until he was fired last year. Mr. Iger, who came out of retirement to retake Disney’s reins, was much less enthusiastic about the project — even before the company became mired in its battle with Mr. DeSantis. As soon as he returned to Disney, Mr. Iger began telling lieutenants, for instance, that it made little sense to move Imagineering so far away from Disney’s movie studios. As he is fond of saying, “Creative teams need to be together.”

Mr. Iger has been systematically reversing Mr. Chapek’s decisions. In February, for instance, he announced that Disney would restructure its inner workings, ending a framework put in place by Mr. Chapek. In March, as part of wide-ranging layoffs, Mr. Iger shut down a 50-person metaverse project that Mr. Chapek had started.

Disney is also in the midst of cutting $5.5 billion in costs as it seeks to improve profitability, pay down debt and restore its dividend.

So basically, what you have here is purely a business decision by Disney.  Yet one particular poster here is using it to push a false narrative against the current Governor in an attempt to deceive.  Not just a false narrative, but a false narrative perpetrated by perhaps the most liberal newspaper in the country.

[Cyber Liberty]

Tell you what … recruit them to northern Virginia.  They will fit right in.

I agree.  Sounds like they would welcome the Groomers with open arms.

[Right_in_Virginia]

I agree.  Sounds like they would welcome the Groomers with open arms.

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   




.

[roamer_1]

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   




.

I am *ALL FOR* a direct war on stakeholder corporatism, and the use of corporations to support the fascist takeover of our country - Disney among the worst.

You don't know it, but you're selling DeSantis on this subject - And its funny as hell.

[Wingnut]

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   



.

Damn you have lost what is left of you orange mind.

You do know that if Disney left Fl how much property could be developed for all the people leaving Blue states.  It is a win win if The House Of  Mouse gets TFO.  Bull Dose the place to the ground.

[Smokin Joe]

I seem to recall a much different tune when it was the Commonwealth of Virginia blocking a Disney theme park from being built in Manassas.  Couldn't find a NY Times hit piece on that?

That was going to be on some of the Battlefield (First and Second Battles of Bull Run/Manassas--War Between the States)

[Smokin Joe]

Disney is also in the midst of cutting $5.5 billion in costs as it seeks to improve profitability, pay down debt and restore its dividend.

And why are they cutting costs? Maybe to compensate for the people abandoning their stuff over "woke" crap?

Let them pout...in Cali.

[GtHawk]

From the NY Times article:


Also buried in the article:

So basically, what you have here is purely a business decision by Disney.  Yet one particular poster here is using it to push a false narrative against the current Governor in an attempt to deceive.  Not just a false narrative, but a false narrative perpetrated by perhaps the most liberal newspaper in the country.

Modern, since Walt died, Disney is a cancer on the American family and way of life and everyone is better for them not expanding their rot. I fully believe the reason Disney is pulling the plug is because they let morons make queerified alphabetsouper movies that turned off normal Americans leading to huge losses, hence the laying of of thousands in their entertainment(TV and movies) division. But hey let's blame it on that big old movie DeSantis.

[Hoodat]

Why take such a shot because some think DeSantis has lost control of his battle with Disney

You may want people to think that.  But only a complete idiot would.  Which is why no one here is buying the liberal bullshit you are peddling.  Even the source left-wing story you cited acknowledges that Disney's decision has zero to do with DeSantis.  Yet even after this is pointed out to you, you choose to double down on a lie.

and Florida's economy looks poised to pay the price.

It is Disney's economy that is paying the price - not Florida.  Which is why they are backing out.  If you click the link in the lead post, you will see that.

If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

According to the last election results, it is crystal clear that Floridians are happy.  But you won't stand down.  You'll be back tomorrow pushing some other lie about DeSantis.  And it's not Florida paying the price.  It is Disney.  Their initial reason for the move was to save money through tax credits that would have netted Disney $570 million over the next two decades, which you would have know had you actually read the article you linked.  But they are now suffering a revenue shortage from their own stupid business decisions, making the move unaffordable.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.

DeSantis has nothing to do with this.  But you knew that already.  Yet you continue pushing a lie.

[LMAO]

You may want people to think that.  But only a complete idiot would.  Which is why no one here is buying the liberal bullshit you are peddling.  Even the source left-wing story you cited acknowledges that Disney's decision has zero to do with DeSantis.  Yet even after this is pointed out to you, you choose to double down on a lie.


It is Disney's economy that is paying the price - not Florida.  Which is why they are backing out.  If you click the link in the lead post, you will see that.


According to the last election results, it is crystal clear that Floridians are happy.  But you won't stand down.  You'll be back tomorrow pushing some other lie about DeSantis.  And it's not Florida paying the price.  It is Disney.  Their initial reason for the move was to save money through tax credits that would have netted Disney $570 million over the next two decades, which you would have know had you actually read the article you linked.  But they are now suffering a revenue shortage from their own stupid business decisions, making the move unaffordable.


DeSantis has nothing to do with this.  But you knew that already.  Yet you continue pushing a lie.

You should know by now that to take anything that RIV regurgitates from TruthSocial about Ron DeSantis with a massive grain of salt. It’s the result of having an emotional bond to Donald Trump and Ron DeSantis threatens that

I would have to say that her replies in this thread is where the doubt started for me

https://www.gopbriefingroom.com/index.php/topic,491284.msg2782791.html#new

So I have learned, based on her replies in this thread, that when it comes to RDS, to always question her regurgitated talking points, unless double fact checked, verified by no less than 50 people, fact checked again, and having the pope and Jesus Christ himself verify  it’s authenticity

[Kamaji]

You may want people to think that.  But only a complete idiot would.  Which is why no one here is buying the liberal bullshit you are peddling.  Even the source left-wing story you cited acknowledges that Disney's decision has zero to do with DeSantis.  Yet even after this is pointed out to you, you choose to double down on a lie.


It is Disney's economy that is paying the price - not Florida.  Which is why they are backing out.  If you click the link in the lead post, you will see that.


According to the last election results, it is crystal clear that Floridians are happy.  But you won't stand down.  You'll be back tomorrow pushing some other lie about DeSantis.  And it's not Florida paying the price.  It is Disney.  Their initial reason for the move was to save money through tax credits that would have netted Disney $570 million over the next two decades, which you would have know had you actually read the article you linked.  But they are now suffering a revenue shortage from their own stupid business decisions, making the move unaffordable.


DeSantis has nothing to do with this.  But you knew that already.  Yet you continue pushing a lie.

[Right_in_Virginia]

You should know by now that to take anything that RIV regurgitates from TruthSocial about Ron DeSantis with a massive grain of salt

Actually, as included in my posts, the sources are The New York Times and an interview from the Republican mayor of Miami with The Hill @LMAO

There are dozens are reports on this out on Al Gore's magnificent Internet.  Please, feel free to post one proving your side of this debate ---- whatever the heck that may be ----- is correct.

Your "shoot the messenger" strategy is tiresome.

[Kamaji]

It's pretty clear that the move on this project was done for internal Disney dynamics unrelated to DeSantis' actions; that, or Disney management must be able to see the future, because they put the project on hold - i.e., stopped spending money on it - back in 2021:


Spineless Republicans Beg DeSantis to Surrender to Disney in Pathetic Showing

By Bonchie
May 18, 2023

On Thursday, news broke that Disney had canceled an office complex project that was set to add 2,000 jobs to Florida’s economy. That was the headline at least. Of course, there was more to the story.

In reality, the project had been placed on hold back in 2021 and postponed to 2026 due to various financial concerns. When current CEO Bog Iger took back over the beleaguered entertainment company, that was the final nail in the coffin because he long thought the entire project was a terrible investment. Obviously, he’s right, as building large office buildings post-COVID is like setting money on fire. The fact that Disney has been hemorrhaging money overall didn’t help either, and nixing the entire project was an easy cost-cutting move.

Regardless, leave it to the press to suck up to Disney and misrepresent the entire situation. That’s exactly what The New York Times did by conflating Gov. Ron DeSantis’ battle with the company with the decision to cut the project. If you read deep enough, the Times reveals there’s no solid connection, but once a narrative is established, it’s hard to neutralize it.

https://twitter.com/varadmehta/status/1659276844481257472

*  *  *

Source:  https://redstate.com/bonchie/2023/05/18/spineless-republicans-beg-desantis-to-surrender-to-disney-in-pathetic-showing-n748269

[Right_in_Virginia]

You may want people to think that.  But only a complete idiot would. 

Are you saying DeSantis hasn't lost control  of his battle with Disney?

Is it your opinion there's no way DeSantis should have/could have been aware of a public meeting held by Disney changing the role of the BOD right before the DeSantis changes were to take effect?  Or is it Ronny being blindsided was part of his plan?

Does your opinion also include DeSantis knew his admitted motivation for punishing Disney and subsequent, increasing bravado outlining additional punishments to come would be quoted chapter and verse in the lawsuit filed against him?

It is Disney's economy that is paying the price - not Florida.  Which is why they are backing out.

What happens when rather than not increasing staff in Florida, Disney starts cutting it?  The three main products of Florida are oranges, Disney and sunburn.  So, sure, you can damage Disney's economic bottom line ----- but, the deeper their losses, the more pain for Floridian workers, businesses.and economic development.

DeSantis has nothing to do with this.  But you knew that already.  Yet you continue pushing a lie.

Not everyone agrees with you, including the Republican Mayor of Miami. I remind you of his assessment:

Miami Mayor Francis Suarez (R) blasted Florida Gov. Ron DeSantis (R) for his “personal vendetta” with Disney, saying that the yearlong feud has cost the state jobs and investments.

“Look, he took an issue that was a winning issue that we all agreed on, which was parental rights for K through third-graders,” Suarez told NewsNation’s Blake Burman on “The Hill.” “And it looks like now it’s something that spite or maybe potentially a personal vendetta, which has cost the state now potentially 2,000 jobs in a billion-dollar investment.”

"I mean, that’s the kind of stuff that Joe Biden does, you know, he canceled the Keystone pipeline and other pipelines out of spite that cost Americans 42,000 jobs,” Suarez said, speaking of DeSantis. "And you know, one thing that he has in common with the president is he hasn’t spent much time in the private sector. And I wonder if that influences his thinking on some of this stuff.”


More:
https://thehill.com/homenews/state-watch/4011492-miami-mayor-says-desantis-personal-vendetta-with-disney-is-costing-state/

[DefiantMassRINO]

Disney pulled the plug because it was a bad business decision.  DeSantis inadvertantly gave Disney executives cover for their bad business acumen.

[Kamaji]

Disney pulled the plug because it was a bad business decision.  DeSantis inadvertantly gave Disney executives cover for their bad business acumen.

Since they had already put the entire project on hold in 2021, the only way DeSantis is giving them cover is if people gin up a false narrative that supplies that cover.  Otherwise, the facts themselves - stubborn things they - demonstrate that there is no correlation between the two.

[roamer_1]

Since they had already put the entire project on hold in 2021, the only way DeSantis is giving them cover is if people gin up a false narrative that supplies that cover.  Otherwise, the facts themselves - stubborn things they - demonstrate that there is no correlation between the two.

Yeah... Other than Iger talking smack.

[Timber Rattler]

The MSM is trying awfully hard to make Disney's announcement political, to generate stories about the mouse vs DeSantis. 

However, the truth is that this is the latest of a string of bad news stories for Disney this week on the economic front. 

Following Iger's recent cuts and layoffs, Disney announced that its closing its brand new Star Wars themed hotel complex (https://www.forbes.com/sites/suzannerowankelleher/2023/05/19/disney-closing-star-wars-hotel/?sh=3f939b9d1288) and the new Indian Jones flick apparently was apparently underwhelming at Cannes last night (https://variety.com/2023/film/news/indiana-jones-5-cannes-standing-ovation-harrison-ford-1235615678/).

And this happened yesterday:

https://deadline.com/2023/05/disney-remove-series-streaming-disney-plus-hulu-big-shot-willow-y-dollface-turner-hooch-pistol-1235372512/

So my guess is that the mouse simply couldn't afford the new development on top of all this bad news. 

Go woke, go broke!

[cato potatoe]

Disney pulled the plug because it was a bad business decision.  DeSantis inadvertantly gave Disney executives cover for their bad business acumen.

They would have “punished” Florida even if DeSantis let them keep their corrupt local government.  Just look at MLB and the all star game debacle.  Conservatives have lost the culture war for decades out of deference to large corporations.  It has to stop.

[DefiantMassRINO]

In a society founded upon Freedom of Thought, Freedom of Speech, Freedom of Worship, and individual Liberty, how can any side in the culture wars declare victory without instituting a totalitarian Government?

[libertybele]

I have to hand it to DeSantis.  He's standing on his conservative principles and morals regardless if it's popular with the woke crowd.

Will it cost him the WH??  We shall see.

[roamer_1]

I have to hand it to DeSantis.  He's standing on his conservative principles and morals regardless if it's popular with the woke crowd.

Will it cost him the WH??  We shall see.

LOTS of pressure. He ain't moved an inch.
I like that.

[libertybele]

LOTS of pressure. He ain't moved an inch.
I like that.

He's holding steady.  Hopefully any negativity thrown at him will only strengthen his resolve.

[Kamaji]

They would have “punished” Florida even if DeSantis let them keep their corrupt local government.  Just look at MLB and the all star game debacle.  Conservatives have lost the culture war for decades out of deference to large corporations.  It has to stop.

[Kamaji]

In a society founded upon Freedom of Thought, Freedom of Speech, Freedom of Worship, and individual Liberty, how can any side in the culture wars declare victory without instituting a totalitarian Government?

Uh, yeah.  Removing quasi-governmental powers from a private for-profit organization is "instituting a totalitarian Government".  Not sure that computes.

[DefiantMassRINO]

It was the People's elected representatives who delegated quasi-governmental powers to a private for-profit organization in return for private investment of $billions$ in Florida swampland and orange groves.

Uh, yeah.  Removing quasi-governmental powers from a private for-profit organization is "instituting a totalitarian Government".  Not sure that computes.

[Cyber Liberty]

Since they had already put the entire project on hold in 2021, the only way DeSantis is giving them cover is if people gin up a false narrative that supplies that cover.  Otherwise, the facts themselves - stubborn things they - demonstrate that there is no correlation between the two.

Disney pulled the plug because it was a bad business decision.  DeSantis inadvertantly gave Disney executives cover for their bad business acumen.

And it gives Trump supporters an opportunity to post Topics just to bash DeSantis.  I did not fail to note who posted this one.

[Kamaji]

And it gives Trump supporters an opportunity to post Topics just to bash DeSantis.  I did not fail to note who posted this one.

[roamer_1]

It was the People's elected representatives who delegated quasi-governmental powers to a private for-profit organization in return for private investment of $billions$ in Florida swampland and orange groves.

And it was the Peoples' elected representatives who rescinded those extraordinary quasi-governmental powers when they felt they were abused.

I cannot believe that folks are defending this plantation.

[cato potatoe]

It was the People's elected representatives who delegated quasi-governmental powers to a private for-profit organization in return for private investment of $billions$ in Florida swampland and orange groves.

That was before Disney reneged on their plan to build the "city of tomorrow" and instead built an amusement park.  Disney abused its powers by remaining in control of the district, and the legislature never had the courage to address it until now.  In an effort to avoid democracy, Reedy Creek de-annexed a planned residential community known as Celebration.

[Kamaji]

It was the People's elected representatives who delegated quasi-governmental powers to a private for-profit organization in return for private investment of $billions$ in Florida swampland and orange groves.

And now that they can see that it was a poor deal, they are rescinding those quasi-governmental powers because they have been abused by the company to which they were granted.

So what?