“I think Disney leadership is well aware they have stepped in quicksand and made a drastic unforced error,” Roach told The Epoch Times. “I think they are aware of how badly they’ve messed up here and the only way they can get to détente on this is Bob Chapek is going to have to go. I think his days are numbered and he’s going to be out as CEO in very short order. Whoever comes in is going to have to publicly acknowledge to some extent that Disney is not going to be held hostage by a small number of employees who think they can dictate Disney’s political stance and if some employees don’t like that they are going to have to leave.”
Roach said he has been to a dozen campaign events over the past few weeks and it’s very clear that “people are outraged.” At this point, Roach believes the only way for Disney to save face is to acknowledge they didn’t read or understand the bill and they are going to stop meddling in Florida’s legislative affairs. He also suggests Disney make a clear statement affirming or reaffirming their support of parental rights in Floria.
‘It’s Also Disney Making Money’
In the “strategic gamble” against Florida’s Parental Rights legislation, James Bailey—professor of leadership at George Washington University’s School of Business—told the Washington Examiner that Disney knows what it’s doing.“For Disney to step up and say, ‘Hey, we’re a progressive company, and you can’t tell us what to do,’ is actually helping their reputation,“ Baily told The Washington Examiner. ”And so, this is Disney being Disney and adhering to their values, but it’s also Disney making money.” Baily further argued that “Disney has accountants, marketing people, and focus groups that have been able to suss out that their business model will be better off by pushing back on the legislation.” While there is a risk of losing some conservative customers, Baily believes the move could gain some new liberal customers.
“Perhaps in California,” Roach said. “A lot of the executives of Disney live in a California bubble.” Roach also believes Chapek’s apologies and promises to have the law overturned is a political gamble based on ignorance, scripted talking points, and a lot of bad advice.
“The information that Bob Chapek has been receiving is flat out wrong,” Roach argued. “Despite the fact that we have a strong Disney presence in Florida, this is a California company with California values. Chapek is a man who was raised in Chicago and lives in California. I don’t have any idea how often he actually comes to Florida, but I have to believe he is getting his advice from corporate executives in California. I would be absolutely shocked if Chapek actually took the time to read the seven-page bill. I’m sure he didn’t. He got his talking points from someone in California.”
Roach predicts this is the “very beginning of the shareholder revolt.”
Repeal of Reedy Creek More ‘Opportunistic than Retaliatory’
While some have accused DeSantis of trying to punish Disney with a show of “post-Trump authoritarianism,“ Roach insists the move to repeal Reedy Creek is more ”opportunistic than retaliatory.”There are numerous other amusement parks in Florida. As Roach explained, the “special privileges” Disney takes for granted are numerous and unique to Disney alone. Of the near 40 square miles of land Disney controls, Reedy Creek exempts all of that land from “all county and nearly all state regulations.” This means Disney is exempt from impact fees, building codes, surface water control, drainage, and all waste treatment regulations. In fact, Roach said Disney even gets to pick the residents—of which there are only 36—who live in the “state-cities” they’ve created in Bay Lake and Lake Buena Vista.
“The problem with this now is they are straying away from what [Disney’s] original vision was,” Roach said.
“When you look at the developers and businesses that want to invest there, Disney has an absolute advantage because they don’t have to comply with all of the state and county regulations,” Roach clarified. “Reedy Creek is an absolute perversion of the free market system. It is the largest privately controlled taxing district in the state of Florida, maybe in the United States. The problem with Reedy Creek is we never should have done this in the first place. It’s absolutely anti-free market. There are multiple theme parks near Orlando Osceola County/Orange County area, seven to 11 others. None of them have this special carveout. Only Disney. So it’s absolutely anti-free market and an enormous tax windfall for Disney. The largest tax evasion scam in the history of the state of Florida and possibly in the United States.
“I suspect that Bob Chapek’s days as CEO are numbered,” Roach reiterated. “He will be a casualty of this, and I hope Disney will come out with some kind of statement reconfirming their commitment to parental rights in Florida and acknowledging they are not going to be held hostage by a group of radical, progressive employees who do not speak for the majority of Florida voters or even a majority of Disney employees.”
The Epoch Times reached out to Disney CEO Bob Chapek for comment but received no response.