F2504x4
Well-known member
- Joined
- May 19, 2020
- Member Number
- 372
- Messages
- 256
Finally somethings are getting back on track....
You can be businessmen or activists; but you can't be both.
Unceremoniously ousted Disney CEO Bob Chapek just learned that lesson the hard way.
Chapek, tapped to run Disney less than 3 years ago, is being replaced by his own predecessor. The legendary Bob Iger is back to right the ship.
Now, I'm no business reporter, but it doesn't take a financial genius to see that Chapek's strategy wasn't adding up.
The stock is down 40% this year. Disney's streaming service, Disney+, ironically keeps adding subscribers and losing money – to the tune of $1.5 billion a quarter. And the company is freezing hiring, cutting spending, and likely laying people off.
So, what was Chapek doing while the House of Mouse crumbled?
He was backing into fights with Republican governors and alienating his customers.
Chapek got the most public attention during his very short tenure for his very public feud with Florida Governor Ron DeSantis over a parental right's law, deemed the 'Don't Say Gay' bill by unhinged critics.
In reality, the law banned the classroom discussion of sexual orientation and gender identity in public schools for kindergarten through third grade. Sounds reasonable, right?
Well, initially, Chapek thought so too -- until he decided to play activist.
Chapek went from trying to avoid the left-wing outrage over the law to fully and completely embracing it.
Disney's boss is looking for a new gig... because he put progressive activist quackery before turning a buck. Big mistake!
Hey, corporate America. Pick a lane!You can be businessmen or activists; but you can't be both.
Unceremoniously ousted Disney CEO Bob Chapek just learned that lesson the hard way.
Chapek, tapped to run Disney less than 3 years ago, is being replaced by his own predecessor. The legendary Bob Iger is back to right the ship.
Now, I'm no business reporter, but it doesn't take a financial genius to see that Chapek's strategy wasn't adding up.
The stock is down 40% this year. Disney's streaming service, Disney+, ironically keeps adding subscribers and losing money – to the tune of $1.5 billion a quarter. And the company is freezing hiring, cutting spending, and likely laying people off.
So, what was Chapek doing while the House of Mouse crumbled?
He was backing into fights with Republican governors and alienating his customers.
Chapek got the most public attention during his very short tenure for his very public feud with Florida Governor Ron DeSantis over a parental right's law, deemed the 'Don't Say Gay' bill by unhinged critics.
In reality, the law banned the classroom discussion of sexual orientation and gender identity in public schools for kindergarten through third grade. Sounds reasonable, right?
Well, initially, Chapek thought so too -- until he decided to play activist.
Chapek went from trying to avoid the left-wing outrage over the law to fully and completely embracing it.