2004 Disney Shareholders Meeting in Philadelphia
On March 3, 2004 the Disney Company will host its annual shareholders meeting in Philadelphia
- Succession Is the Big Question at Disneyland - New York Times (4/26/2004)
The New York Times discusses the issues faces Disney's Board of Directors who are gathering at Disneyland this week.
Free registration required to view - Five Dumbest Things on Wall St This Wk - TheStreet.com (4/23/2004)
TheStreet.com takes a look at the vote cast by Disney 401(k) participants. - Incentivizing Michael Eisner - Forbes (4/23/2004)
An April 1st Forbes editorial examines Michael Eisner's compensation in light of the Company's performance. - Disney dissidents claim win over Eisner - Reuters (4/21/2004)
The April 21st Reuters discusses the report that a majority of Disney retirement plan shares were voted against his re-election. - Disney's Retirement Fanning - Fool.com (4/20/2004)
The April 20th Fool.com examines yesterday's announcement that 72.5% of the shares cast by Disney's former and current employees in the stock retirement plan voted against Eisner's retention. - Employee vote shows discontent with Eisner - Orlando Sentinel (4/20/2004)
The April 20th Orlando Sentinel discusses yesterday's announcement that nearly 3/4 of Disney retirement-plan votes withheld support for Eisner.
Free registration required to view - Eisner Receives 72.5% No Confidence Vote From Disney 401K Plan Participants - (4/19/2004)
Roy Disney and Stanley Gold announce records received today from The Walt Disney Company confirm that Michael Eisner received a No Confidence vote from 72.5% of the votes cast by the Walt Disney Company 401K trustee at the Company's 2004 annual meeting and that George Mitchell received a No Confidence Vote from 63.7% of the votes cast by the Walt Disney Company 401K trustee. - Disney Statement on Shares Voted in Employee Savings Plans - (4/19/2004)
Statement from Disney, regarding how shares were voted in Disney's employee savings plans. - Disney 401K votes: 72.5% against Eisner - CBS MarketWatch (4/19/2004)
Russ Britt of CBS MarketWatch briefly discusses Monday's announcement that nearly three-fourths of shareholders in Walt Disney Co.'s 401(k) plan cast ballots to remove Chief Executive Michael Eisner. - Protest Tally Against Eisner Rises to 45.37% - Orlando Sentinel (4/16/2004)
The April 16th Orlando Sentinel reports the withhold vote against Eisner was larger than initially reported.
Free registration required to view - Eisner opposition up in new count of Disney vote - Reuters (4/16/2004)
Reuters reports another tally of the shareholders votes shows more than 45 percent were cast against Eisner. - Disney board to meet with 6 pension funds - Orlando Sentinel (4/14/2004)
The April 14th Orlando Sentinel reports Disney will meet with the California Public Employees' Retirement System, California State Teachers' Retirement System and funds in New York, Ohio, Connecticut and North Carolina on May 21 in New York City
Free registration required to view - Three Questions for Disney - Fool.com (4/14/2004)
Fool.com reports five state pension funds have asked to meet with Disney. The Motley Fool offers questions they would like to see answered. - Letter States Disney Management to Obstruct Access to 401K Trustee Vote Cause for Concern - (4/7/2004)
The attorneys for Roy Disney and Stanley Gold have posted their letter stating, "In response to your letter of April 5, 2004, I can only express dismay that The Walt Disney Company has engaged yet another law firm for the purpose of delaying my clients' access to the voting results. The effort and expense to which Company management is going to obstruct our access gives my clients further cause for concern."Link provides complete letter - Roy Disney seeks Eisner vote data - Reuters (3/24/2004)
Reuters reports Roy Disney wants the Disney Co. to release data on how pension plan members voted. - Disney officials, Hafer to meet - Philadelphia Inquirer (3/23/2004)
The March 23rd Philadelphia Inquirer reports Disney officials will meet with Pennsylvania stat treasurer in hopes of winning back support from the state's pension fund. - Big Pension Funds Ask Disney for a Meeting - Los Angeles Times (3/23/2004)
The Los Angeles Times reports six of the nation's largest pensionf funds want to meet with the Disney Company Board of Directors.
Free registration required to view - Clearing the record (correction) - Philadlephia Inquirer (3/18/2004)
The Philadlephia Inquirer offers a correction to last week's article about shareholders' efforts to oust Eisner. - Disney’s Mitchell Says Board to Watch Management - Reuters (3/12/2004)
Reuters is reporting that the new Chairman of the Board of The Walt Disney Company, George Mitchell, that the company’s board would help develop company strategy and planning for a successor to current CEO Michael Eisner’s whose contract expires in 2006. Former Senator Mitchell spoke at a luncheon sponsored by the Georgetown University Law Center and said that the boards decisions would be validated by future performance. Reuters is reporting that the new Chairman of the Board of The Walt Disney Company, George Mitchell, that the company’s board would help develop company strategy and planning for a successor to current CEO Michael Eisner’s whose contract expires in 2006. Former Senator Mitchell spoke at a luncheon sponsored by the Georgetown University Law Center and said that the boards decisions would be validated by future performance. - Judge Bars Testimony in Suit Against Disney - (3/12/2004)
A Delaware Judge ruled that a corporate governance expert, Deborah A. DeMott could not testify that Disney directors did not properly oversee the hiring and firing of former Disney President Michael Ovitz. Mr. Ovitz received a $140 million severance package, after his 15 month stay with Disney, which sparked controversy. - Disney Parks Seeing That Old Magic - Hollywood Reporter (3/11/2004)
According to the Hollywood Reporter, Walt Disney Parks and Resorts is having a good fiscal year regardless of the recent turmoil regarding Michael Eisner. - Disney Chairman's Role - New York Times (3/11/2004)
The New York Times received a letter to the editor from Disney's Chairman of the Board George J. Mitchell commenting on the March 5, 2004 New York Times Story entitled, For a Diplomat, Task Is Quelling Disney's Unrest
Free registration required to view - Disney disses Shareholders - Motley Fool (3/11/2004)
The Motley Fool has a transcript from The Motley Fool Radio Show on NPR where David and Tom Gardner interviewed Kim Masters, author of The Keys to the Kingdom: How Michael Eisner Lost his Grip, regarding the recent shareholder vote and the company's reaction to it. - SEC Proposal Draws Threat of Lawsuit - Orlando Sentinel (3/11/2004)
The Orlando Sentinel reports that the U.S. Chamber of Commerce has threatened legal action against the SEC if it adopts a proposal to increase the power of shareholders in selecting board members. The proposal, brought attention by the recent Disney vote, would allow shareholders to put nominees for directors names on the ballots that are mailed to all shareholders. - Why Are Shareholders so Powerless? - CNBC' (3/11/2004)
CNBC's Jubak's Journal asks why after the protest vote at The Walt Disney Company's annual meeting virtually nothing changed. Jim Jubak also discuses why the vote could actually hinder change in Disney's board. - DIS Vote and CA Bill May Affect SEC Shareowner Director Nomination Rule - SocialFunds.com (3/11/2004)
SocialFunds.com, an advocacy website dedicated to socially responsible investing, reports that the recent Disney vote and a bill in the California state legislature have a bearing on the proposed SEC rule that would allow shareholder director nominations. The proposed California state law goes further than the proposed SEC rule by not requiring a percentage of votes to be withheld or to wait a year after the no vote is cast. - Corporate Interests Widely Decry SEC's Plan on Proxy Reform - Los Angeles Times (3/11/2004)
The Los Angeles Times is reporting that Martin Lipton, a lawyer acquired by Disney to fend off a takeover, told the SEC on Wednesday that giving investors a bigger voice in board struggles would be a mistake. Three of the five SEC commissioners support the new regulations which indicate it will probably be approved.
Free registration required to view - Disney redrafting Eisner's contract - Los Angeles Biz Journal (3/10/2004)
The Los Angeles Biz Journal is reporting that the Disney's Board of Directors is renegotiating Michael Eisner's contract so he can retain his $1 million salary after losing the title of chairman. Sources also say that the board wants to remove a clause that says he can leave if he loses the title of chairman, because the board is worried his departure could make the company vulnerable to a takeover. - News Man not Going to Disney - Sydney Morning Herald (3/10/2004)
The Sydney Morning Herald is reporting that News Corp's president and COO Peter Chernin is renegotiating his contract with News Corp. and would like to remain there. Mr. Chernin has often been mentioned as a possible successor to Michael Eisner - Eisner Vote Forces Disney to Catch-Up - New York Times (3/10/2004)
The New York Times offers analysis on Disney renegotiating Michael Eisner's contract.
Free registration required to view - Disney's Eisner E-Mails Upbeat Message to Staff - (3/9/2004)
The L.A. Times is reporting that Walt Disney Company CEO Michael Eisner sent an e-mail Monday to approximately 70,000 cast members and employees. He supported current management and tried to keep morale up after last weeks no-confidence vote in Michael Eisner at the annual shareholder meeting.
Free registration required to view - Disney Insiders Expect Iger-Cide: Will Prez Resign? - New York Post (3/9/2004)
The New York Post is reporting that Disney insiders say that President and COO of The Walt Disney Company, Bob Iger, may be scape-goated by CEO Michael Eisner. - The Magic is Gone - Newsweek (3/9/2004)
In the March 15th issue of Newsweek there is a report focusing on why there was a shareholder revolt in Philadelphia. The article examines factors, including Michael Eisner's focus on marketing that may have led to shareholder disapproval - Will He Survive? - Newsweek (3/9/2004)
Newsweek examines the likelihood of whether or not Walt Disney Company CEO will survive the vote of no-confidence he received in Philadelphia. - Disney Remains Eisner's Kingdom - Los Angeles Times (3/8/2004)
A March 8th Los Angeles Times columns focuses on Eisner's survival as the CEO of the Disney Company suggesting to readers that for "the next year, every development at Disney will be viewed through the prism of Eisner's fate."
Free registration required to view - Disney board to ponder Eisner's future - CNN/Money (3/8/2004)
The March 8th CNN/Money reports Disney's oard of directors will gather next month at a two-day strategy session to possibly discuss the long-term succession of current CEO Michael Eisner. The Disney Company is denying that Eisner's future is on the agenda. - Sequel to Eisner panned - Philadelphia Inquirer (3/8/2004)
The Philadelphia Inquirer suggests Disney Board of Directors "wiped out much" of their growing credibility in their efforts to develop more independence by declaring the night following the unprecendented vote against Eisner that "The board has unanimously elected former Sen. George Mitchell to serve [as chairman]."
Free registration required to view - Anxiety Reigns at Disney - Los Angeles Times (3/8/2004)
The Los Angeles Times describes the anxiety among Disney employees following last week's vote against Eisner and the ongoing takeover bid by ComCast.
Free registration required to view - Stockholders don't share fairy-tale - Philadelphia Inquirer (3/8/2004)
The March 7th Philadelphia Inquirer discusses the difficulties facing shareholders who wish to oust board members under the current SEC structure. - Animated Shareholders - Los Angeles Times (3/8/2004)
The March 6th Los Angeles Times discusses the "embarrassing comeuppance for longtime Disney Chairman and Chief Executive Michael Eisner."
Free registration required to view - SEC Split on Aiding Investor Challenges - Los Angeles Times (3/8/2004)
The March 8th Los Angeles Times reports the Disney Company shareholders vote has "increased pressure on the Securities and Exchange Commission to move ahead with a plan to give investors a louder voice in elections throughout corporate America."
Free registration required to view - Eisner's ability to lead doubted - Orlando Sentinel (3/8/2004)
The March 7th Orlando Sentinel reports an analyst view that shareholders "have really cut his knees out from under him."
Paid registration required to view - One Ear Down - TIME (3/8/2004)
TIME reports about two weeks prior to the vote, Disney contacted the ISS to determine if it would change its no-confidence recommendation if the board split the Chairman, CEO roles. ISS said it didn't even entertain the idea. - It's Round Two - New York Post (3/5/2004)
The March 5th New York Post reports if enough investors join a "written consent" lobbying group, Disney Co. would be required to call another gathering and adds that CalPERS, the NY state pension system and Roy Disney have started panning a written consent campaign. - Message to Disney board: Eisner Goes - Philadelphia Inquirer (3/5/2004)
The March 5th Philadelphia Inquirer explains shareholders disgust may not be as attached to the share prices as to the perceived deterioration of the value of the Company's characters and the "kinship" felt with them. - Corporate Version of a Recall Is Difficult, Costly and Rare - Los Angeles Times (3/5/2004)
The March 5th Los Angeles Times discusses corporate life's version of the recall.
Free registration required to view - Westly Calls for Shareholder Committee to Monitor Disney Reforms - (3/5/2004)
Recognizing that shareholder concerns extend beyond Eisner's leadership, State Controller Steve Westly proposed establishing an Ad Hoc Shareholder Committee to monitor progress by the Disney Board of Directors, reforming audit and compensation policies and practices, and separating the roles of Board Chair and CEO. - Eisner blames corporate governing, an interview with Disney's CEO - Orlando Sentinel (3/5/2004)
The March 5th Orlando Sentinel sat down with Michael Eisner for an interview with the paper. They describe him as "confident and unapologetic" but highlight changes from his "Nightline" interview.
Free registration may be required to view - Disney fails to appease critics - USA Today (3/5/2004)
The March 5th USA Today offers reponses by the various state funds that withheld votes from Eisner, to the decision to place George Mitchell as Chairman and leave Michael Eisner as CEO. - Now It's Time to Say Goodbye - Business Week Online (3/5/2004)
The March 15th Business Week Online offers three steps the Disney Board should take to restore investor confidence: Find a Successor - Fast, Continue the Board Shakeup, and Take Comcast Seriously. - Eisner: Richer Than Scrooge McDuck - Business Week (3/5/2004)
The March 5th Business Week reports Michael Eisner will leave Disney a well-compensated man, all told, between now and 2011, he could bag around $375 million. - For a Diplomat, Task Is Quelling Disney’s Unrest - New York Times (3/5/2004)
The March 5th New York Times reports George J Mitchell who has little business experience, sees his main job in his new role as Disney Chairman as negotiator among the factions of unhappy investors.
Free registration required to view - George Mitchell profile - Orange County Register (3/5/2004)
The Orange County Register offers a brief profile of Disney's new chairman former Senator George Mitchell. - If You Don’t Like the Ride, Get Off - New York Times (3/5/2004)
The March 5th New York Times op-ed encourages digruntled shareholders to exercise their ultimate right, the right to sell their stock.
Free registration required to view - Investors See Reason to Keep Holding - Los Angeles Times (3/5/2004)
The March 5th Los Angeles Times reports Disney investors continue to hold their shares despite growing anger at Disney's Board.
Free registration required to view - Upheaval at Disney - Philadelphia Inquirer (3/5/2004)
The Philadelphia Inquirer discusses the collection of strange bedfellows the "no-confidence" vote has united. - Dissidents blast new chairman - Orlando Sentinel (3/5/2004)
The Orlando Sentinel reports George Mitchell's appointment to chairman of Disney's Board has received a lot of criticism.
Free registration required to view - The fall of Eisner falls partly on Eisner - Orange County Register (3/5/2004)
The March 5th Orange County Register reports the shareholder revolt comes after a year-long rebound of Disney Company stock. - Eisner focus may mask bigger Disney issue - Associated Press (3/5/2004)
The March 5th Associated Press discusses Disney's frustration that the focus of Disney's shareholders on ousting Eisner clouded the news of the company's growth. - Comcast bid may shield Eisner - Philadelphia Inquirer (3/5/2004)
The March 5th Philadelphia Inquirer reports some analysts view that Comcast's bid was a factor in keeping Eisner at CEO while stripping him of the chairman title. - The Five Dumbest Things on Wall Street This Week - TheStreet.com (3/5/2004)
The March 5th TheStreet.com discusses Disney's decision to place former Senator George Mitchell in the Chairman position. He received a 24% withhold vote on Wednesday. - Direction in doubt - Orange County Register (3/5/2004)
The March 5th Orange County Register reports Disney shareholders are not satisfied by Disney's move splitting the Chairman and CEO positions and continue their campaign for major changes within the Disney Board. - Disney voters' intent vague - Washington Times (3/5/2004)
The March 4th Washington Times offers the analysis of Richard Greenfield, an analyst at Fulcrum Global Partners who stated, "Disney is not a broken company.P - A Desperation Move for Disney? - Newsweek (3/5/2004)
The March 4th Newsweek asks Nell Minow, editor of the Corporate Library, an investment research firm, whether Disney’s new leadership structure will mean real change. - Disney's Corporate Drama Turns Into a Blockbuster - Los Angeles Times (3/5/2004)
The March 4th Los Angeles Times reports Disney's shareholder meeting drew long lines and offered anger, whimsy -- and even some quips from the headliner, Eisner.
Free registration required to view - Behind the Scenes at Michelle Smith's Deborah Norville Taping - (3/5/2004)
Fab takes readers behind the scene when she films a segment for the popular MSNBC show. - Investors wonder: What's changed at Disney? - CBS Marketwatch (3/4/2004)
The March 4th CBS Marketwatch reports investors were left wondering Thursday whether any meaningful change has taken place now that the Walt Disney Co. board gave Michael Eisner's chairmanship to George Mitchell. - Disney and Gold Call Action By DIS Co Board A Blatant Rejection of Shareholder Will - (3/4/2004)
Roy Disney and Stanley Gold today called the decision by The Walt Disney Company Board of Directors naming George Mitchell as Chairman, while allowing Michael Eisner to remain CEO, "a blatant rejection of shareholder will, a betrayal of trust and a significant step backwards for substantive governance reform in America's capital markets." - Disney strips chairmanship from Eisner - USA Today (3/4/2004)
The March 3rd USA Today offers a synopsis of yesterday's outcome at the Disney Shareholders meeting. - Eisner Out as Disney Chairman but Remains as Chief - New York Times (3/4/2004)
The March 4th New York Times calls the move to appoint George J Mitchell as Disney's Chairman could further stoke the campaign against Mr. Eisner.
Free registration required to view - TIAA-CREF says withheld support of Disney board - CBSMarketWatch (3/4/2004)
The March 4th CBSMarketWatch reports pension giant TIAA-CREF withheld reelection support from the entire Disney board. - NY's Hevesi says a vote a "wake-up call" to Disney - CBS MarketWatch (3/4/2004)
The March 3rd CBS MarketWatch offers New York Comptroller Alan Hevesi's response to the vote against Eisner's reelection. - Corporate Democracy and the Power to Embarrass - New York Times (3/4/2004)
The March 4th New York Times reports "in corportate democracy where competing candidates almost never get onto ballots for director, it is deemed embarrassing to have even 5 percent of the votes withheld. By that standard, Mr. Eisner suffered a great humiliation..."
Free registration required to view - Disney shareholders not likely to be mollified - CBS MarketWatch (3/4/2004)
The March 4th CBS MarketWatch reports Disney's decision to split the positions of chairman and chief executive, reducing the role of Michael Eisner, doesn't go far enough to satisfy disgruntled shareholders, who will likely demand -- and get -- further changes, analysts said Thursday. - Off With Half His Head - Forbes (3/4/2004)
The March 4th Forbes calls Disney's response of splitting the Chairman and CEO positions to the shareholder vote "amazingly half-hearted" - Mitchell A 'Stop Gap' At Disney - (3/4/2004)
Peter Mirsky, media analyst with Oppenheimer during an appearance on CNBC stated, "No disrespect to Senator Mitchell; he's obviously very accomplished, but he does not have a track record on Wall Street. I think the Street would like them to put in someone who is highly respected on the Street for having had run a business." - Disney strips Eisner of chairman's role - Philadelphia Inquirer (3/4/2004)
The Philadelphia Inquirer discusses yesterday's events including financial experts opinions of the Chairman - CEO split. - Disney Foes Still Gunning for Eisner - TheStreet.com (3/4/2004)
The March 4th TheStreet.com describes Michael Eisner as "firmly on the defensive" following the shareholders vote. - Disney, dissidents puzzled after meeting - Associated Press (3/4/2004)
The Associated Press explores the results of yesterday's contentious shareholders' meeting. - Big decision for shareholders - Orlando Sentinel (3/4/2004)
The Orlando Sentinel focuses on the process Harry Gensemer, age 10 took in deciding on how to vote. - Back in 1993, shareholders idolized Eisner - Orlando Sentinel (3/4/2004)
The March 4th Orlando Sentinel highlights the atmosphere at this year's shareholders meeting in Philadelphia and contrasts it with the 1993 meeting held in Anaheim.
Free registration may be required to view - Disney execs give selves a positive report card - Orlando Sentinel (3/4/2004)
The March 4th Orlando Sentinel offers highlights from the presentations given to shareholders at yesterday's meeting. - Notes From the Disney Shareholders Mtg - Fool.com (3/4/2004)
The March 4th Fool.com offers highlights from the Disney Company's shareholders mtg. - The Battle For Disney - New York Times (3/4/2004)
The New York Times gathers their Disney business article into a single location.
Free registration required to view - Outside the Meeting, the Sounds of Protest - New York Times (3/4/2004)
The New York Times highlights the various protest occurring outside the Disney shareholders meeting.
Free registration required to view - Reports from Outside and Inside the Disney Shareholders Mtg - Jim Hill Media (3/4/2004)
Jim Hill Media offers the tales of their two reporters efforts to attend the Disney shareholders meeting. - Eisner's Long, Long, Long Odds - Business Week (3/4/2004)
The March 3rd Business Week reports the 43% withhold vote on Eisner's reelection has led to his removal as Chairman and describes his CEO position as looking "mighty tenous" - Changes in the Air at Disney Co. - Washington Post (3/4/2004)
The March 3rd Washington Post reports it appears increasingly likely that some top management change would take place. - Disney Dissidents Rebuke Eisner, Denying Him 43% of Vote - New York Times (3/3/2004)
The New York Times evaluates the impact of today's vote on the future of the Disney Company. Also provides a link to video of Michael Eisner's opening remarks at the Disney shareholders meeting.
Free registration required to view - More than 40 percent of Disney shareholders withhold approval for Eisner - Orlando Business Journal (3/3/2004)
The Orlando Business Journal offers brief highlights from the Disney shareholders meeting. - Behind the Scenes at the shareholders meeting - Orlando Sentinel (3/3/2004)
The Orlando Sentinel posts periodic updates from the shareholders meeting in Philadelphia. - Stanley Gold's Remarks at the 2004 Disney Shareholder Meeting - (3/3/2004)
Stanley Gold describes the anticipated 40% as "unprecendented in the annals of American business" during the Disney shareholder meeting. The SaveDisney.com campaign founded by former Board members Roy Disney and Stanley Gold were allotted 15 minutes at today's shareholders meeting. - Eisner comes under attack at meeting - Orlando Sentinel (3/3/2004)
The March 3rd Orlando Sentinel reports the opening portions of the 2004 Disney Shareholders meeting. - Presentation to Disney Shareholders by Jay Rasulo - (3/3/2004)
Disney Parks and Resorts chief Jay Rasulo discussed recent attractions that opened at the theme parks around the world. He then highlighted their plan to strengthen the parks' performance by investing in unique entertainment, by utilizing high impact marketing, by building closer relations with guests and by entering entirely new markets. - Shareholders vote against Eisner - (3/3/2004)
The March 3rd CBS MarketWatch reports the preliminary results show 43 percent of the votes cast so far going against Eisner. But those votes already represent 38 percent of Disney shares. - Calls for Eisner's Ouster Mount at Disney - Reuters (3/3/2004)
The March 4th Reuters reports the unprecendented 43% withhold against Eisner has fueled the call for Eisner to resign. - Disney Said to Weigh Dividing Top Posts - New York Times (3/3/2004)
The March 3rd New York Times reports the Disney Board of Directors has been considering separating the jobs of chairman and chief executive.
Free registration required to view - Eisner May Drop Chairman Post but Continue as Chief Executive - Los Angeles Times (3/3/2004)
The March 3rd Los Angeles Times reports Michael Eisner may step down as chairman of the board but remain chief executive.
Free registration required to view - How Eisner's Style Came Back to Haunt Him - Los Angeles Times (3/3/2004)
The March 3rd Los Angeles Times reports Michael Eisner's continuing impact on the entertainment industry will not be the same following the challenge to his reelection.
Free registration required to view - Continuing Coverage Surrounding Disney Shareholders Mtg - (3/2/2004)
The Disney Company is at the forefront of various financial reports as the Company's 2004 Annual Stockholders' meeting takes place in Philadelphia. - Disney Company March 1st Statement - (3/2/2004)
The Disney Company Disney's record of building value is indisputable, as evidenced by the nearly 60 percent increase in stock price in the past year.