Posted on 12/25/2023 3:19:57 PM PST by logi_cal869
The story of Disney (DIS) has been far from a fairytale of late. Tesla CEO Elon Musk recently called for CEO Bob Iger to be “fired immediately.” And now, South Carolina is pulling its state funds out of the entertainment conglomerate.
According to South Carolina State Treasurer Curtis Loftis, the decision to divest has to do with the company’s management abandoning their fiduciary responsibilities.
“I think it's clear to anybody paying attention that there's a structural rot inside of Disney. It's deep, it’s pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it can't be fixed,” he told Fox Business Digital, adding that it “does not bode well” for the future of the company.
Fox Business Digital reported that the portfolio of the State Treasurer's Office included $105 million in Disney debt securities, which will not be renewed upon maturity.
Loftis criticized Disney’s embrace of Environmental, Social, and Governance (ESG) criteria, arguing that it deviates from the core principles of investing.
"People sometimes forget that ESG has nothing to do with investing,” he said. “ESG is a speech and behavior code that was … created by the left and delivered to everybody else under these virtuous circumstances, or presumed circumstances."
The most significant issue according to Loftis, however, lies not in the policies themselves but in the individuals at the helm of the company.
(Excerpt) Read more at moneywise.com ...
More good news...
Not to be a downer, but $105 million is chump change in this context.
SELL SELL SELL
#doomcockwasright
100m here, 100m there and before you know it we will be talking about some real money…
If the hypocrites would dump ESPN like they did bud light, disney’s theme park profits would fail to buoy the stock from all the losses.
I see a negative trajectory until either the corporation corrects itself, or until consumers forget disney’s transgressions.
Disney can be saved, the fix is obvious but the Libs won’t let it happen, they’d rather it fail and crumble.
Whose “Doom Cock” said that?
They started making movies for themselves instead of making movies the audience wanted.
It all started when Kathleen Kennedy started using the Panderstone too much. Then a portal to an alternate universe opened up where everyone was a diverse lesbian. From then on it became increasingly gay and lame. (From South Park, “Joining the Panderverse”)
Loftis is a very intelligent, courageous and eloquent man. Keep an eye on him.
seems indoctrination movies only work on the already indoctrinated. your experience may vary.
A YouTube channel.
And, he was right.
I’m not much of an investor, but I’ve been following Doomcock, and I think that if Peltz takes over, there’s a pretty good chance Disney stock will recover and possibly soar. May not even take much time.
But buying now, you gotta ride out a likely downturn before everything shakes out, or try to time the valley and get in at the low point.
Could be a good opportunity. Peltz doesn’t seem like the kind of guy who takes control just to loose more money. There’s a lot of potential in Disney and if Peltz makes a very public purge, I think the public would easily forgive the past few years because of the residual good will.
But what do I know...
Disney’s woke DEI obsessives need full-time mental health professionals on call 24/7.
Copyright on Mickey Mouse expires in 2024…
So there’s that too
Zip-a-dee-doo-dah and they’re gone.
Stupid story. The state of SC is going to hold the debt until it matures. And won’t buy more Disney debt.
Well that is as close to a nothing-burger as it could be.
Disney stock is a stinker. They should have gotten the Bud Light treatment years ago. But this SC announcement is just theatrics.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.