By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > Disney CEO questions continued Florida investment in clash with DeSantis
Stocks

Disney CEO questions continued Florida investment in clash with DeSantis

News Room
Last updated: 2023/05/11 at 5:01 AM
By News Room
Share
3 Min Read
SHARE
2/2

© Reuters. FILE PHOTO: A Walt Disney World photographer holds a Pride rainbow-coloured Mickey Mouse cutout before the “Festival of Fantasy” parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio Jones

2/2

By Dawn Chmielewski and Lisa Richwine

(Reuters) -Walt Disney Co Chief Executive Bob Iger on Wednesday accused Florida politicians of retaliating against the company and questioned the state’s interest in the entertainment conglomerate’s continued investment in Walt Disney (NYSE:) World.

Disney has accused Florida Governor Ron DeSantis and his supporters of “weaponizing” the state government to punish it for exercising free-speech rights last year when the company criticized a state measure banning classroom discussion of sexuality and gender identity with younger children.

Iger said on Wednesday Disney has built a resort that employs more than 75,000 people and attracts millions of visitors each year, using a special district established more than 50 years ago to foster development in central Florida. It plans to invest $17 billion over the next decade expanding Walt Disney World.

“We operate responsibly. We pay our fair share of taxes. We employ thousands of people. And by the way, we pay them above the minimum wage, substantially above the minimum wage dictated by the state of Florida,” Iger said in remarks made during the company’s quarterly investor call.

“So I’m going to finish … by asking one question: Does the state want us to invest more, employ more people and pay more taxes, or not?”

Iger’s comments were unusual for the executive known for his genial, even disposition. He took issue with concerted efforts to dismantle the special district that he said enabled Disney’s growth, and put it in the hands of state-appointed overseers. He said Disney has been forced to file a lawsuit in federal court to protect its business interests.

The Florida tourism oversight board responded in early May by filing its own lawsuit in state court seeking to preserve its role overseeing development in and around Disney’s theme parks and void “backroom deals” favorable to the entertainment giant.

DeSantis, who is expected to declare his candidacy for U.S. president, has repeatedly attacked “woke Disney” in public remarks, and said he is leveling the playing field for a company that has enjoyed unfair advantages.

Iger disputed that, noting some 2,000 special districts exist in Florida to foster development and that “we were one of them.”

A spokesperson for DeSantis did not immediately respond to a request for comment.

Read the full article here

News Room May 11, 2023 May 11, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
US multinationals on track for minimum tax reprieve after G7 deal

The world’s leading economies have agreed a deal to spare the US’s…

Why is the right so fascinated with fantasy literature?

Stay informed with free updatesSimply sign up to the Politics myFT Digest…

Iran holds funeral procession for top commanders killed in Israeli strikes

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Traders bet on interest rate cuts from Jay Powell’s successor at the Fed

Stay informed with free updatesSimply sign up to the US interest rates…

Israel’s Benjamin Netanyahu weighs his next move after Iran war

After Israel launched its war on Iran, Benjamin Netanyahu seemed to be…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?