Abigail Disney not happy with workers’ conditions at theme park


INVOLVED, THERE’S A LOT OF SPECULATIVE ACTIVITY THAT IS JUMPY. NEIL: LET ME SWITCH GEARS TO DISNEY. ABIGAIL DISNEY, PART OF THE FOUNDING FAMILY, I GUESS SHE WENT UNDERCOVER AT DISNEYLAND TO SEE HOW WORKERS WERE BEING TREATED. NOT WELL, TO HER. IT’S A BAD REFLECTION ON THE COMPANY SHE SAYS DISPROPORTIONATELY PAYS ITS HONCHOS, INCLUDING BOB IGER, TOO MUCH.>>SHE REALLY BEAT UP ON BOB IGER. HE’S PAID MORE THAN $65 MILLION, MORE THAN 1,000 TIMES WHAT THE AVERAGE WORKER AT A THEME PARK, FOR EXAMPLE, IS GETTING PAID. ABIGAIL DISNEY IS REALLY SAYING THIS SHOULD BE ABOUT SORT OF THE HUMAN RIGHTS AND GOOD CONDITIONS. WE ARE HEARING THE SAME KIND OF STORIES FROM WORKERS AT AMAZON AS WELL. THIS IS A CONVERSATION THAT’S ONGOING. WE DO STEP UP TO THE PLATE AND SAY THIS IS THE BEST COUNTRY IN THE WORLD TO LIVE IN, YET THERE DEFINITELY COULD BE MORE THAT IS DONE WHEN IT COMES TO CORPORATIONS — NEIL: THEY ARE ALREADY PAYING $15.>>THEY ARE PAYING IT.>>THEY SAID THEY ARE PAYING THEIR WORKERS $15 AND THEY HAVE PROGRAMS WHERE PEOPLE CAN HAVE CONTINUING EDUCATION AND REALLY GET INVOLVED, YOU KNOW, MOVE TOWARDS, YOU KNOW, HAVE MULTIPLE PROMOTIONS TOWARDS UPPER MANAGEMENT. THINK ABOUT WHERE DISNEY’S STOCK IS NOW. UNDER IGER’S TENURE, IT’S GONE UP FIVE TIMES. NEIL: IT’S MADE ABIGAIL RICH.>>WAS THAT IGER OR THE MARKET?>>HE WAS THE FIRST ONE TO HAVE ALL THAT CONTENT ON, YOU KNOW, NETFLIX AND HULU. HE DID A STRATEGIC DEAL WITH LUCAS FILMS, A STRATEGIC DEAL WITH FOX, WHICH IS THIS NETWORK, OWNED BY THIS NETWORK.

Six Flags reports strong quarter despite US-China trade tension


WELCOME BACK ADVERTISE SEASON PRL THEME PARK, SIX FLAGS FACING SOME NEW COMPETITION REPORTING RECORD FINANCIAL PERFORMANCE LAST YEAR, HELPED IN PART BY A GROWING MEMBERSHIP PROGRAM COMPANY REPORTED EARNINGS EARLIER TODAY A MISS NERNINGS. BUT A BEAT ON REVENUE JOINING ME RIGHT NOW EXCLUES FIVE FOX BUSINESS WITH SIX FLAG CHAIRMAN JIM REID ANDERSON ALWAYS A PLEASURE TO SEE YOU.>>THANK YOU FOR BEING WITH US. CHARACTERIZE THE FIRST QUARTER FOR US.>>A RECORD QUARTER WE SAW IMPROVEMENTS ACROSS EVERY METRIC FROM ATTENDANCE REVENUE, AND EPS ALL GROWING BETWEEN 6 AND 8% BEST IN THE QUARTER HISTORY AND I WANT TO POINT OUT WE FINISHED OUR 9TH RECORD YEAR SO GOAL TO HEAD FOR NUMBER 10 AND THAT’S WHAT WE’RE WORKING TOWARDS.>>TERRIFIC. VERY STRONG QUARTER SO WE HAVE GOT A PRETTY GOOD BACK DROP IN TERMS OF THE ECONOMY SO THAT’S PART IT HAVE BUT YOU THINK PARTLY BECAUSE OF THE MOIN PRAY THAT MANY YOU’VE PUT IN PLACE.>>WE HAVE MADE A LOT OF CHANGESES TO OUR PROGRAMMING AND IN ESSENCE MEMBERSHIP ALLOW FOAM TO GET THIS VALUE OFFERING PAY MONTHLY, AND WE DON’T HAVE TO HAVE THEM RENEW SEASONS PAS EVERY YEAR THEY JUST STAY WITH US. SO MEMBERSHIP NOW REPRESENTS ABOUT 25% NOT REOCCURRING REVENUE ABOUT 25% OF THE TOTAL GUEST REVENUE GROWN, YOU KNOW, FROM 20% LAST QUARTER SO RAPIDLY IMPROVING AND THAT BRINGS STABILITY, AND CONSISTENCY AND YOU KNOW THAT’S REALLY IMPORTANT US TO.>>NOW, THE ANALYST REPORTS THIS MORNING THERE ARE A LOT OF THEM ARE FOCUSING ON INTERNATIONAL BUSINESS, STOCK WAS DOWN, AFTER YOU REPORTED BECAUSE OF THAT I THINK PARTLY PEOPLE ARE WONDERING WHAT’S GOING TO HAPPEN WITH CHINA. TBIFN THE CHINA FIGHT BETWEEN THE U.S. AND CHINA, AND YOU’RE GETTING THE NECESSARY APPROVALSES FOR THE THEME PARK THERE. TELL US ABOUT IT.>>SO WE HAVE MULTIPLE PARKS ACROSS THE WORLD SO IN TOTAL 12 THAT WE’RE WORKING ON 11 OF THEM ARE IN CHINA AND WE ARE MAKING PROGRESS IN GET THOSE PROPOSALS. OR HAVE NICELY SO IT TAKES WHILE AS YOU KNOW WITH THE MACROCOMMITMENT ISSUES THERE AND TRADE FIGHT THAT’S GOING ON AND GETTING GOVERNMENT PROPOSAL AS LOCAL GOVERNMENTS CHANGE. BUT WE’RE MAKING PROGRESS AND WE’VE SEEN IMPROVEMENT THERE. SO QUESTION SAW GROWTH EVERYWHERE WE SAW GROWTH DOMESTICALLY AND INTERNATIONALLY IT WAS A GOOD QUARTER.>>YOU POINTED OUT TO ME DURING COMMERCIAL BREAK THAT EVEN THE INTERNATIONAL REVENUE PORTION IS JUST A SMALL PORTION OF OVERALL REVENUE. SMG IT IS 3% OF OUR TOTAL REVENUE WHEN YOU LOOK AT NINE RECORD YEAR, AND VERY STRONG GROWTH IN THE SECOND QUARTER, I THINK WE’RE SET UP FOR ANOTHER RECORD YEAR. THAT’S OUR GOAL CERTAINLY.>>SO HAVE YOU BEEN IMPACTED AT ALL BY CHINA U.S. FIGHT?>>PART OF WHY WE SAW THAT IMPACT TOWARDS THE END OF LAST YEAR. BUT YOU KNOW, WHEN YOU LOOK AT OUR BUSINESS MARIA WE HAVE 5 INITIATIVES, INTERNATIONAL IS FIFTH OF THE INITIATIVES WE’RE SEEING GROWTH IN ALL OF THOSE INITIATIVES VERY, VERY STRONG GROWTH AND INNOVATION IS IN OUR DNA WE BRING NEWS IN EVERY PARK EVERY YEAR AND DONE THAT AGAIN THIS YEAR IN OUR NOTERS AMERICAN PARKS WITH FANTASTIC PERFORMANCE.>>I KNOW YOU GOT TO KEEP FRESHENING IT UP. I WOULD ADD ONE MORE THING WHICH I THINK YOU KNOW WE HAVE A DIVIDEND YIELD GETTING GROWTH, WE SAW REVENUE GROWTH OF 8%. RIGHT THINK ABOUT THIS 7, 8% CONSISTENTLY. GOOD NUMBER AND ON TOP OF THAT A DIVIDEND YIELD OF 6.2% THINK ABOUT THAT GROWTH AND YIELD FANTASTIC. A NICE GOOD DEAL.