Disney Loses Suit Against DeSantis

[MajorRewrite]

Illegal? The federal lawsuit has been dismissed. The Reedy Creek special district has been replaced.

Dismissed on a technicality, not on merit.

It’s obviously illegal for a governor to use the state government to attack a business simply because the business disagreed with him.

 

[BabyBoomer50s]

Dismissed on a technicality, not on merit.

It’s obviously illegal for a governor to use the state government to attack a business simply because the business disagreed with him.

Like all state laws in Florida, the legislation was passed by the state legislature and signed by the governor.

 

[Sean Renaud]

How are they going to suffer? Disney can't afford to shut down and abandon Disney World anymore than they could afford to build it elsewhere. They will stop holding their breath, realize they are a business and not a city, and life will go on.,

Things that Disney was handling largely out of pocket are going to fall on the tax payers. Having to go through all the zoning regulations is going to slow Disney adding features and hurt them jobs wise. They ARE a city for all intents and purposes.

 

[MajorRewrite]

Like all state laws in Florida, the legislation was passed by the state legislature and signed by the governor.

Yes, in direct response to Disney’s criticism of DeSantis’ pet project. It was pure vengeance and that is obviously illegal.

But I guess fans of authoritarian government do enjoy attacks on private businesses and private citizens.

 

[TrailerHitch]

Things that Disney was handling largely out of pocket are going to fall on the tax payers. Having to go through all the zoning regulations is going to slow Disney adding features and hurt them jobs wise. They ARE a city for all intents and purposes.

So Disney is going to invest billions and create 13,000 Disney jobs over the next decade. Sounds like they are suffering horribly and bleeding money.

Dude you are chicken little crying that the sky is falling. Disney had a dictatorship and the state finally said enough. Get over it, no one died, no one went broke, and no jobs were eliminated. Their emergency services people will finally be treated like employees with good wages and benefits, instead of indentured servants.

 

[Fuzzy1975]

So Disney is going to invest billions and create 13,000 Disney jobs over the next decade. Sounds like they are suffering horribly and bleeding money.

Disney itself never said this, DeSantis's office gave the above talking point.

Dude you are chicken little crying that the sky is falling. Disney had a dictatorship and the state finally said enough. Get over it, no one died, no one went broke, and no jobs were eliminated. Their emergency services people will finally be treated like employees with good wages and benefits, instead of indentured servants.

https://www.nytimes.com/2023/05/18/business/disney-ron-desantis-florida.html

While Disney is not going to abandon Billions in capital investments, assuredly it's board of directors is plotting a future that will not include being handcuffed by government.

As for the new development board, it still may end up holding the 1 Billion dollar bond. While some areas of Disney's lawsuit have been settled, other still have not.

 

[BabyBoomer50s]

Disney itself never said this, DeSantis's office gave the above talking point.

https://www.nytimes.com/2023/05/18/business/disney-ron-desantis-florida.html

From the Disney Florida website:

“Our investments in Florida will continue as we plan to invest billions in Walt Disney World Resort over the next decade. Our investment will create 13,000 new jobs and thousands of other indirect jobs that will attract more people to the state and generate more taxes.

“We remain committed to giving back to our Central Florida community. Our Company and its cast members continue to show up as a positive force, actively seeking solutions that impact the people and places around us.“

https://disneyconnect.com/disneyworld/reedy-creek-the-facts-you-need-in-2024/

 

[Fuzzy1975]

From the Disney Florida website:

“Our investments in Florida will continue as we plan to invest billions in Walt Disney World Resort over the next decade. Our investment will create 13,000 new jobs and thousands of other indirect jobs that will attract more people to the state and generate more taxes.

“We remain committed to giving back to our Central Florida community. Our Company and its cast members continue to show up as a positive force, actively seeking solutions that impact the people and places around us.“

https://disneyconnect.com/disneyworld/reedy-creek-the-facts-you-need-in-2024/

MY apology, I had thought the snippet came from the Governors office. Still it's meaningless. More a smooth the water statement to keep investors calm.

I can assure you from a business prospective, Disney is weighing the financial future of it's business in Florida. They know the political winds blow from different directions. However this 1 Billion dollar investment, never happened. Yes you can argue it was due to the current Disney outlook, or that it was halted in a wait and see outlook from the Governors interference.

However all that incorporated company boards do is examine the short and long term fiscal strategy. After all, their only responsibility is to the shareholder. If Florida's outlook is in the negative, they will just suck the life out of the assets, make as much money as they can, and move to a new location. It would be a shame if the nexus of all this was Desantis's thin skin.

 

[BabyBoomer50s]

Congrats! ​

Disney World moves forward on massive park expansion after settling lawsuits with Florida​

Michael Hundgen, Walt Disney World site portfolio executive, told CNN that the expansion is “probably the largest” the resort has ever done in Magic Kingdom.

The new area will be around the size as Hollywood Studios’ 14-acre “Star Wars: Galaxy’s Edge” land.

https://flvoicenews.com/disney-worl...pansion-after-settling-lawsuits-with-florida/