Business, Economics, and Taxes: Capitalism. Yay? >=(

[mookie1995]

It depresses me greatly that Disney is like that. They should be better.

Be glad they ain’t worse

 

[RaceBoarder]

My daughter worked for Disney for three years and knows dozens of Disney workers. They are being put in constant danger and treated like sh-t. It's one of the worst companies for the treatment of its workers.

Apparently the parks actually are pretty full, though. And the type of people who are hot to go right now are the stupidest, most aggressive, most vile in the country. It's a MAGA super spreader event every day.

Pretty much every theme park employee anywhere in the nation is getting minimum wage or a slight pittance more... Disney can just hide it behind the vainer easier than say a Six Flags or Cedar Fair park... They are treated just like every other minimum wage employee in the nation...

 

[BassAle]

It depresses me greatly that Disney is like that. They should be better.

duty to shareholders > duty to employees

 

[FadeToBlack&Gold]

My daughter worked for Disney for three years and knows dozens of Disney workers. They are being put in constant danger and treated like sh-t. It's one of the worst companies for the treatment of its workers.

But every year, there are a new class of CMs who get hired and by the end of the year most of them are saying, "Yes daddy, hit me again & harder."

Disney is a cult.

 

[walrus]

My daughter worked for Disney for three years and knows dozens of Disney workers. They are being put in constant danger and treated like sh-t. It's one of the worst companies for the treatment of its workers.

Apparently the parks actually are pretty full, though. And the type of people who are hot to go right now are the stupidest, most aggressive, most vile in the country. It's a MAGA super spreader event every day.

Parks are pretty full compared to what? Disney laid off 28,000 workers in California. Florida is empty if you look at normal. I've heard they are off 80% in Fla. Disney DVCs are giving away rooms compared to normal nightly room rates. I'd love to go to the Food and Wine Festival at Epcot right now but even being vile and stupid I'm smart enough to stay home

 

[Handyman]

Pretty much every theme park employee anywhere in the nation is getting minimum wage or a slight pittance more... Disney can just hide it behind the vainer easier than say a Six Flags or Cedar Fair park... They are treated just like every other minimum wage employee in the nation...

That vainer gets torn apart when Disney's daughter goes on one of her rants. Man she hates the people who run that company and it makes me happy

 

[aparch]

duty to shareholders > duty to employees

Every year older I get, the more my blood boils when I recall the Henry Ford vs. Dodge brothers lawsuit outcome.

A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end, and does not extend to a change in the end itself, to the reduction of profits, or to the non-distribution of profits among stockholders in order to devote them to other purposes...

 

[SJHovey]

Every year older I get, the more my blood boils when I recall the Henry Ford vs. Dodge brothers lawsuit outcome.

If you're bitter about the fact that corporations aren't charged with some sort of responsibility towards the greater public good, maybe you should devise a similar entity that is.

You could call it something like a "non-profit corporation" or maybe a "foundation" or some such silly term as those. Might be a big hit.

 

[FadeToBlack&Gold]

A corporation is just a legal entity, and it is only as good as the people in charge of running it. The correct way to encourage/enforce good corporate behavior is through taxation and regulation that properly punishes financial fraud and bad consumer products, and sufficiently protects our environmental resources from being completely raped out of greed. This is something that "law & order" conservatives who tout the benefits of a competitive free market of ideas & products that improve consumers' lives and who enjoy the outdoors should be 100% behind. It's unfortunate they've completely lost their way on the subject, having been blinded for decades by Ayn Randian "law of the jungle" positions on economics, and thus trained like dogs to reflexively bark that all taxation is theft and any regulation leads us down the path to Stalinism.

 

[unofan]

If you're bitter about the fact that corporations aren't charged with some sort of responsibility towards the greater public good...

Tell me, when you watch It's a Wonderful Life at Christmas, do you support Potter the same way you do every Potter-wannabe in real life?

 

[SJHovey]

Tell me, when you watch It's a Wonderful Life at Christmas, do you support Potter the same way you do every Potter-wannabe in real life?

I tend more towards A Christmas Carol, and wonder how that Cratchit guy still has a job.

 

[RaceBoarder]

Today is D-Day for the Airline industry... All those sweet, sweet government socialism handouts are no more...

I really don't have a problem with 60% of that industry going belly up.... Just reform it correctly in 5 years....

 

[FadeToBlack&Gold]

Today is D-Day for the Airline industry... All those sweet, sweet government socialism handouts are no more...

I really don't have a problem with 60% of that industry going belly up.... Just reform it correctly in 5 years....

I feel bad for the employees (looking at you MNS), but it's time to face the reality of cutting routes, frequencies, fleet, and staff when the demand is simply not there right now and won't return to pre-pandemic levels for at least 3-5 years.

This will have a cascading effect on other industries as well and no one is immune. My firm is still in limbo after a shaky earnings report late last week.

 

[SJHovey]

I feel bad for the employees (looking at you MNS), but it's time to face the reality of cutting routes, frequencies, fleet, and staff when the demand is simply not there right now and won't return to pre-pandemic levels for at least 3-5 years.

This will have a cascading effect on other industries as well and no one is immune. My firm is still in limbo after a shaky earnings report late last week.

In general I think you are right, but there are certainly some businesses/industries that are relatively immune. I wouldn't want to own a bar or travel resort, but I'm sure bankruptcy attorneys will do just fine, for instance.

Here is what I think we're going to see. Let's take restaurants, for example.

We'll see mass closings. The crappy franchise places with drive-thrus will be fine, but a lot of sit down places will go under. Only the strongest will survive, until we get to a place where the substantially reduced demand finally matches up with the substantially reduced number of options.

Then, very slowly, demand will start creeping up. I don't think we're ever going to see a day where it'll be like "ok everyone, you can go out again." Instead, quarantine fatigue will set in, fear will diminish (or the public will at least build up a tolerance for it) and ten years from now we'll look around and see that people are sort of going about their lives again, even though it might look slightly different. As that happens, new restaurants will pop up to meet that new demand.

Same is going to be true for pretty much every industry affected negatively by the pandemic. It kind of sucks because old favorites will have closed, and there will be a cascade of hardship as loans get defaulted on, etc..., but new businesses will replace them, so it'll also be interesting.

 

[RaceBoarder]

I feel bad for the employees (looking at you MNS), but it's time to face the reality of cutting routes, frequencies, fleet, and staff when the demand is simply not there right now and won't return to pre-pandemic levels for at least 3-5 years.

This will have a cascading effect on other industries as well and no one is immune. My firm is still in limbo after a shaky earnings report late last week.

Yea, I understand that this will negatively impact people that have their career in the industry (I can think of at least three people who posted here regularly directly tied into this). And I truly do feel for them.

But the bigger problem is a corporate one, as you mentioned.

 

[cF[Authentic]]

Then, very slowly, demand will start creeping up. I don't think we're ever going to see a day where it'll be like "ok everyone, you can go out again." Instead, quarantine fatigue will set in, fear will diminish (or the public will at least build up a tolerance for it) and ten years from now we'll look around and see that people are sort of going about their lives again

That started happening in June, not in 10 years...

 

[FadeToBlack&Gold]

;n3604813]

That started happening in June, not in 10 years...

Yeah, quarantine fatigue has already set in. Not sure where Hovey is getting that 10 year estimate, unless he's figuring it'll take Democrats that long to come out of the basement for a namby-pamby craft cocktail at the hipster bar again.

 

[Kepler]

Quarantine patience is a function of, well, patience -- moral maturity. High school students were sick of it after 5 days, the cons were sick of it after 5 weeks, the broodsows and businessmen are sick of it after 5 months.

Pretty much the only people left at home now are the ones you want running the country.

 

[SJHovey]

Yeah, quarantine fatigue has already set in. Not sure where Hovey is getting that 10 year estimate, unless he's figuring it'll take Democrats that long to come out of the basement for a namby-pamby craft cocktail at the hipster bar again.

Neither one of you read my post carefully. I said that quarantine fatigue would set in, fear would diminish (or a tolerance to fear would be built up). I didn't say that would start in 10 years. What I said is that people will look around in 10 years and realize everyone has moved on with their lives.

Quarantine fatigue and a tolerance for fear started immediately. It's been building, in fits and starts, ever since, and will continue to do so.

 

[MinnesotaNorthStar]

I feel bad for the employees (looking at you MNS), but it's time to face the reality of cutting routes, frequencies, fleet, and staff when the demand is simply not there right now and won't return to pre-pandemic levels for at least 3-5 years.

This will have a cascading effect on other industries as well and no one is immune. My firm is still in limbo after a shaky earnings report late last week.

It still hasn't really sunk in yet (even though I had to turn in my badge and iPad on the way out), as today was my normal day off. We all kind of saw the writing on the wall months ago. We knew it wasn't feasible to keep receiving government money until we were in the clear, though we were hoping for one more (and still are, if they pass it in the next week or so, we've been told we'll all be recalled) for a few reasons. They're instituting a job share program to try to help bring some people back, but I need about 130 senior people to take it for it to get to me (That's over half of our combined domestic and international bid lines). I was a little heartened to see my co-workers stop *****ing at each other on our union page (some legit gripes, others I thought were stupid) and actually, for now, commit to trying to do everything they can to bring us all back as soon as possible.