(1)
So they are airing it after all, the arrogant sons of bitches.
There’s only so much I’m willing to take from a corporation, and these guys have not just crossed the line, they’ve crossed over into a parallel universe.
I can’t imagine why they think it’s good business to offend 50-60% of their consumer base. Offend, is of course, too mild a word, but all the words I know would be too mild. The English language has never been put to the need to come up with a word to describe such behavior. Whatever word or phrase someone comes up with to nail this behavior right on the head, it would have to include in it the meanings of arrogant, misguided, heinous, contemptuous, evil, hypocritical, stupid as all hell, Cheneyian.
I have never before been moved by a corporation to solemnly pledge to boycott all their products for the foreseeable future. But there’s always a first time, and these guys sure found the right button to punch inside me.
So henceforth – and until such time as all the bozos responsible for this decision have been ousted from the company, suitably tarred and feathered and hopefully also deprived of their retirement benefits – there will be no more Disney or ABC or ESPN or any of their corporate spawn in my future. Or that of anyone who lives under my roof.
(2)
I cannot believe that the capital markets will not punish the colossal stupidity of this corporate behavior.
Unless the market as a whole opens significantly higher, I confidently expect Disney stock to open lower than its $29.58 Friday close. It had closed on Wednesday at $29.48. Didn’t move much on Thursday or Friday after this story broke. Trading volume wasn’t much higher than normal either. Look for both things to change tomorrow.
I confidently expect a loud chorus of stockholder outrage. And a slew of stockholder lawsuits to go with the libel suits that many are confidently predicting.