Closed till 2021?

[PGHFiend 140]

https://www.marketwatch.com/story/disney-stock-falls-after-ubs-downgrade-2020-04-20

Shares of Walt Disney Co. DIS, -2.00% are down 3.1 % in Monday trading after UBS analyst John Hodulik downgraded the stock to neutral from buy, writing that the company is in "the eye of the storm" amid the COVID-19 pandemic. His base case now assumes the company's parks won't reopen until the start of 2021 meaning that the parks business should be Disney's hardest hit segment. "[T]he economic recession plus the need for social distancing, new health precautions, the lack of travel and crowd aversion are likely to make this business less profitable until there is a widely available vaccine," Hodulik wrote. Further, he's concerned that the company's heavy exposure to live sports means that "its advertising trends will lead the industry down," with some further risks down the road if college or professional football seasons are impacted by the COVID-19 outbreak. Hodulik lowered his price target to $114 from $162 on the shares, which have lost 29% over the past three months as the Dow Jones Industrial Average DJIA, -0.88% has declined 19%.

[keith_h 420]

There is a good probability they won't. Just today they stopped paying about 100K Disney employees. With the other employment actions they've taken I don't see how they could get everything back up and running quickly.

 

https://www.bbc.com/news/business-52349729

[LONE-STAR 370]

I saw this in a couple places today. When you read the reopening plans it doesn't even sound like it will be worth going to me, at least for awhile. Maybe if you lived close.  Only time will tell, it's ashame really. 

[twiceblessed....nacole 433]

Florida is loosing huge amounts of money, by these parks being closed.  Now that states are starting to open back up, it will be interesting to see how long they stay closed.  I'm sure they'll position it the best they can, to get federal aid.  Gotta love the monopoly money our government prints up.  Mercy...

 

https://www.mynews13.com/fl/orlando/news/2020/04/20/disney--universal-execs-join-reopen-florida-task-force

 

 

[Travisma 1,317]

Florida Gov. Ron DeSantis appointed nearly two dozen lawmakers and business leaders to form a task force to work on re-opening the state's economy.

The task force announced Monday includes:

• Jeanette Nuñez, Lieutenant Governor of Florida
• Jimmy Patronis, Florida Chief Financial Officer
• Ashley Moody, Florida Attorney General
• Bill Galvano, President, Florida Senate
• Jose Oliva, Speaker, Florida House of Representatives
• Sen. Wilton Simpson, President-Designate, Florida Senate
• Rep. Chris Sprowls, Speaker-Designate, Florida House of Representatives
• Richard Corcoran, Commissioner of Education
• Jamal Sowell, President & CEO, Enterprise Florida, Inc.
• Carlos Gimenez, Mayor, Miami-Dade County
• Dale Holness, Mayor, Broward County
• David Kerner, Mayor, Palm Beach County
• John Couris, President & CEO, Tampa General Hospital
• Josh D’Amaro, President, Walt Disney World Resort
• Todd Jones, CEO, Publix Super Markets
• Syd Kitson, Chairman, Board of Governors for the State University System

• Paul Reilly, Chairman & CEO, Raymond James Financial
• Alex Sanchez, President & CEO, Florida Bankers Association
• Eric Silagy, President & CEO, Florida Power & Light Company
• John Sprouls, CEO, Universal Orlando Resort, Executive Vice President, Universal Parks & Resorts
• Patrick Sunderlin, Vice President, Global Supply Chain, Lockheed Martin Corporation
• Joe York, President, AT&T Florida and Caribbean

DeSantis said the task force would create short, medium and long-term recommendations for reopening the state after weeks of shutdown due to the coronavirus outbreak.

DeSantis told the committee they will meet daily by phone through Friday, when he hopes they will have recommendations they can present. There will also be subcommittees that will report to the executive committee.

The state's largest economic sector, tourism, has crashed and most of its largest employers have shut down because of the crisis, including the theme parks and cruise lines. Restaurants have been limited to takeout and delivery and nightclubs have been closed. More than 650,000 workers have filed unemployment claims since March 15, according to the state.

DeSantis told the committee the state will reopen in stages and not all at once. He said a key will be the ability to test workers for the disease and get quick, accurate results.

“If you have somebody in a business and they get tested and you get results in six days, that's not efficient and effective,” he said.

The Florida Democratic Party criticized DeSantis' selections, saying it is the “expected cadre of donors and DeSantis loyalists.” It also blasted him for not appointing Agriculture Commissioner Nikki Fried, the only Democrat elected statewide, while including the two Republican members of the cabinet, Attorney General Ashley Moody and Chief Financial Officer Jimmy Patronis.

“Fried oversees the second largest economic driver in the state and she should have a seat at the table,” party chair Terrie Rizzo said in a statement

There are no medical experts on the task force only the CEO of Tampa General Hospital

 

[PGHFiend 140]

Guess we'll hear on Friday.  

[Travisma 1,317]

I had read the reports from the financial experts that Disney may not open this year as PGHfiend had posted.

I had also seen a couple more that their plans are to stay closed for 6 months.

There were also other reports form "insiders" that they will be opening May1, June 1, July1,  throw a dart at a date and see what comes up.

Until Disney makes an announcement no one will know.

And something to think about, if the parks do open, who knows what they will be like.

Maybe some or all of these, temp screening, mandatory masks, facial recognition (instead of fingerprints), given bottles of sanitizer, longer waits because of cleaning each ride between guests, taking handrails down and replacing with chains so people don't hold onto them, signing a waiver that you can't sue if you get infected while at the park, and so on.

[twiceblessed....nacole 433]

10 minutes ago, Travisma said:

, signing a waiver that you can't sue if you get infected while at the park, and so on.

This right here, is what I think it boils down to.  The same reason construction did not continue inside the parks (even though proper distancing should have been possible).  Disney has deep pockets and someone will sue if they get sick.  

[Grumpy and Grandma 740]

5 minutes ago, twiceblessed....nacole said:

This right here, is what I think it boils down to.  The same reason construction did not continue inside the parks (even though proper distancing should have been possible).  Disney has deep pockets and someone will sue if they get sick.  

Construction is still going on..  There are links posted where they are still building Reflections and when we were out you could see crews on various construction sites.

[djsamuel 322]

1 hour ago, Grumpy and Grandma said:

Construction is still going on..  There are links posted where they are still building Reflections and when we were out you could see crews on various construction sites.

Yes. TRON has continued, and as stated here, Reflections, as well as the attractions at Epcot that are closer to completion such as Guardians of the Galaxy and Ratatouille.  The other projects have been halted, such as the Star Wars hotel and the other construction projects at Epcot.  However, Imagineering has applied for more permits for the new play attraction at Epcot.  I think the halts to construction were more to improve cash flow than prevent the spread of the virus.

[twiceblessed....nacole 433]

9 hours ago, Grumpy and Grandma said:

Construction is still going on..  There are links posted where they are still building Reflections and when we were out you could see crews on various construction sites.

Fantastic.  I thought I had asked and was told, no.  Good to hear that they continued to work.  It didn't make a lot of sense... actually, it would seem easier to work with everything empty.

[mouseketab.....Carol 1,261]

On 4/21/2020 at 12:37 PM, djsamuel said:

Yes. TRON has continued, and as stated here, Reflections, as well as the attractions at Epcot that are closer to completion such as Guardians of the Galaxy and Ratatouille.  The other projects have been halted, such as the Star Wars hotel and the other construction projects at Epcot.  However, Imagineering has applied for more permits for the new play attraction at Epcot.  I think the halts to construction were more to improve cash flow than prevent the spread of the virus.

I read somewhere that the permits were done quickly before those workers that actually filled out the permit requests were furloughed. That way the approval process could be underway.