"These results once again highlight the quality of our content"
Disney posted earnings for investors that were strong thanks to the theme parks and TV. The headline is part of the quote by Iger that was released with the results
on the Orlando Sentinel.
The diversity of Disney allows them to handle a rough economy, but you wonder how much of the new construction will be impacted if we go into recession.
The funny thing about recessions is you don't know you are in one until usually after the fact. The last time the US had a true recession (two consecutive quarters with negative GDP growth) was in 1982. However, when travel and tourism was down significantly in 2002 Disney Parks still had financial growth. I'm not saying they could pull off the same in a true recession, but I don't think they are stretched too thin either.
I believe Disney will continue to post good numbers regardless of the overall economic picture. The strong foreign dollar will continue to bring in the masses and the excellent value Disney offers for family vacations makes them fairly recession resistent.
"If you build it, they will come...."
Should Disney start accepting Euros? There are places in NYC that have put up signs to this effect.
As some posts argue about the euro/dollar, I can say you that, as a French citizen, when I came to Orlando in December 2006 it is true that I was very happy to buy "cheap" dollars with my euros (and one year ago, the euro was not as strong as it is now).
I bought some. I'll buy some more when it drops below $30.
I think the entire country could go down and Disney would survive. People still went on 9/11 and after. Personally I was taken there by my mom a few months after my dad died when I was 9 and it helped. Then Last year when my mom died we had already planned a trip to Disneyland just a few days after she died and we went anyway because one of the last things she said was to go ahead and go. It made us feel a lot better even though I was one of the only people to cry during an entire Disney vacation. :)
Damn, Claudia. I know how that is. Sorry to hear about that.
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