I know I'll probably be in the minority here, probably a minority of one, but I was disappointed by our CEO's angry response to the letter over that wrist-band thing. The congressman who initiated the concern over privacy didn't seem too out of line; indeed, in this day and age, there probably should be an overabundance of caution vis a vis privacy issues. What got me most was Iger's insulting tone, especially his assertion that the congressman and staff could easily have gotten all the answers they wanted via public information. If a congressman or a judge or anyone like that is concerned about something, then the only responsible thing to do is to check directly with the source...you can't rely on what's beenw written as it could be erroneous. That's the procedure. If Markey had taken something out of context that was in the public information, then he would have been told by Iger that he should have been courteous enough to check with Disney before being irresponsible. But Iger essentially stated in his letter that no one has the right to question Disney. Again, I have to use the word disappointed...I don't think there was anything wrong with Markey's conern (although his letter probably was a bit strong, too). Iger usually has a cool demeanor; I thought this was out of character for him. Then again, you have to wonder what his temperament is actually like behind the scenes.
And where did you find Iger's reply letter? Could you post a link, please?
Here is a link to an article that includes the full response:http://www.deadline.com/2013/01/disney-bob-iger-magicband-co...Personally I am fine with the response and don't agree with your interpretation.First like happens many times these days with Congressman they tend to showboat and based on Iger's account of what happened this was totally showboating. I mean come on didn't your Mom even teach you that you ask a person for something in private first before you make a public specticle of yourself. If Iger had been approached but this committee and turned them down you would have a point but apparently nobody ever contacted Iger or Disney before going to the press with a letter.Second Disney is in the children business this is their audience. So when a Congressman starts accusing Disney of exploiting Children they are basically saying this company that is about making kids happy and giving kids wonderful experiences is really using and abusing them that is a serious inference. I think that the best response Disney could make to such a charge is to come off strong. Disney can not let it float around the underground and rumor mills of mothers that you better watch out for Disney because they are going to track your child, get all sorts of information on them and then exploit them. So I say I am glad that Iger stood up to the showboating Congress.Now if Congress really had any real concerns they have the power to fire right back at Iger and get the information and do what is needed to protect children and the public at large. But my guess is that I am guessing this showboating Congressman is embarassed and will probably go and hide and realize his showboat didn't work today.Moe
Moe,Thanks for your reply. You bring up a good point, but I still have to respectfully disagree. Here are a couple thoughts.In terms of doing it publicly, I think Markey was right to do that only because we as a nation deserve transparency. In fact, we complain if we don't have it. So the congressman, like many of us, are in a damned-if-we-do-or-don't position. I'd rather see the exchanges in a public forum.In terms of the privacy issue, I honestly see that there could be a concern because we don't know what this wrist-band thing will morph into. It is voluntary, but that doesn't mean congress shouldn't protect those who volunteer for things; that wouldn't be realistic.But, mostly, it's his tough-guy tone that makes me wonder how he would react if I as a shareholder asked a tough question of him. It makes him seem like just another arrogant CEO. Markey may have been wrong, but what if I -- or you -- questioned him about the failure of his Playdom acquisition? Would we be simply ludicrous little-people in his eyes? We probably would. Quite frankly, I have to ask: where is the tough-guy Iger when dealing with cutting the costs of content development and dealing with theater owners who were on his back about day-and-date release? Now, I would love to see tough-guy Iger push back against theater owners who grandstand about the company's right to distribute content any way it pleases. Instead, Iger is only a tough guy with the people it's easy to be tough about -- congress. Wouldn't you love Iger telling theater owners that if they don't want Disney product in their theaters they can do what they want? Who do you think would blink first? Just think of what happened in that little fight with Target several years back.Those were the thoughts that were going through my mind when I read the letter. But I do honestly respect your opinion.
Ed Markey is running for Kerry's senate seat, so he needs something to get attention. I think Iger reacted correctly.
esxokm,I appreciate your opinon also and am glad that you share it. You come from a different perspective then I do and I enjoy hearing our perspective.On Markey, I don't think this has anything to do with transparancy. If Markey really thinks there is an issue he should look into the issue first before calling someone out on it. Its human decency. Yes if he found an issue he should inform the company and yes if he didn't he should let that be known also but you don't call something black unless you know its black. On your Iger comments, I suggest you look at the Quarterly Reports. The Studio business was good for $1 billion in revenues out of $11 billion. The study is less then 10% of the company revenue and while yo don't just forget about 10% I just have to judge Iger more on how he runs the Media companies and the Parks which account for three quarters of both the revenue and profits. So while I would agree with you somewhat on the studio it like if he is getting an A on 75% of his work and a C on 12% he still gets good marks from me.Moe-- Although I bet it doesn't take $30 million to find someone who can handle the job
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