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'Tremendous loss to America': South Carolina is dumping $105M of Disney investments, blaming 'structural rot' in the company — Treasurer warns the sane people are now gone. Time to sell DIS?
Moneywise ^ | 12/11/2023 | Jing Pan

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 ...


TOPICS: Business/Economy; Chit/Chat
KEYWORDS: disney; gowokegobroke; woke
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Surprised that I didn't see this posted in a search.

More good news...

1 posted on 12/25/2023 3:19:57 PM PST by logi_cal869
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To: logi_cal869

2 posted on 12/25/2023 3:20:16 PM PST by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: logi_cal869

Not to be a downer, but $105 million is chump change in this context.


3 posted on 12/25/2023 3:25:47 PM PST by ChildOfThe60s ("If you can remember the 60s....you weren't really there")
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To: logi_cal869

SELL SELL SELL


4 posted on 12/25/2023 3:26:20 PM PST by George J. Jetso
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To: logi_cal869

#doomcockwasright


5 posted on 12/25/2023 3:30:58 PM PST by martin_fierro (< |:)~)
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To: ChildOfThe60s

100m here, 100m there and before you know it we will be talking about some real money…


6 posted on 12/25/2023 3:47:07 PM PST by gov_bean_ counter (Eccl 10:2 - The heart of the wise inclines to the right, but the heart of the fool to the left )
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To: ChildOfThe60s

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.


7 posted on 12/25/2023 3:55:23 PM PST by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: logi_cal869

Disney can be saved, the fix is obvious but the Libs won’t let it happen, they’d rather it fail and crumble.


8 posted on 12/25/2023 4:06:49 PM PST by The Louiswu (Pray for Peace in the world.)
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To: martin_fierro

Whose “Doom Cock” said that?


9 posted on 12/25/2023 4:09:56 PM PST by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: logi_cal869

They started making movies for themselves instead of making movies the audience wanted.


10 posted on 12/25/2023 4:11:31 PM PST by Brooklyn Attitude (I went to bed on November 3rd 2020 and woke up in 1984.)
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To: Brooklyn Attitude

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”)


11 posted on 12/25/2023 4:22:29 PM PST by packagingguy
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To: logi_cal869

Loftis is a very intelligent, courageous and eloquent man. Keep an eye on him.


12 posted on 12/25/2023 4:35:47 PM PST by montag813
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To: Brooklyn Attitude

seems indoctrination movies only work on the already indoctrinated. your experience may vary.


13 posted on 12/25/2023 4:40:12 PM PST by Qwapisking ("IF the Second goes first the First goes second" L.Star )
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Comment #14 Removed by Moderator

To: ConservativeMind

A YouTube channel.
And, he was right.


15 posted on 12/25/2023 5:10:17 PM PST by Darksheare (Those who support liberal "Republicans" summarily support every action by same. )
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To: martin_fierro

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...


16 posted on 12/25/2023 5:12:25 PM PST by chrisser (I lost my vaccine card in a tragic boating accident.)
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To: All

Disney’s woke DEI obsessives need full-time mental health professionals on call 24/7.


17 posted on 12/25/2023 5:29:06 PM PST by Liz (WRT govt: qualifications for wrecking crews are not as stringent as those for construction crews.)
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To: chrisser

Copyright on Mickey Mouse expires in 2024…

So there’s that too


18 posted on 12/25/2023 5:43:54 PM PST by aMorePerfectUnion (I didn't come here to guide lambs, but to awaken lions 🦅 MAGADONIAN ⚔️)
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To: logi_cal869

Zip-a-dee-doo-dah and they’re gone.


19 posted on 12/25/2023 5:57:46 PM PST by FlingWingFlyer (They've begun dismantling Arlington Cemetery, next comes diggin up white solders and dumpin' 'em.)
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To: logi_cal869

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.


20 posted on 12/25/2023 6:09:28 PM PST by Honest Nigerian
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