Recently, we at the Conservative Business Journal reported on DeSantis’ speculative plans to remove Disney’s self-governing status. This plan intended to punish Disney for its stance against the Parental Rights in Education Bill and its “not-at-all-secret gay agenda.” DeSantis is now executing that plan, with the Florida Republican-led Senate voting to end all of Disney’s special privileges. 

The day before the Senate’s vote, DeSantis told reporters that his Republican lawmakers would be “considering termination of all special districts that were announced in Florida prior to 1968- and that includes the Reedy Creek Improvement District.”

The Reedy Creek Improvement District has been an integral part of Disney’s business model. The state of Florida created the Reedy Creek Improvement District in 1967 as a semi-private governing entity that Disney had complete control over. With control of Reedy Creek, Disney could levy their taxes on nearby residents and approve their construction projects without dealing with government regulations. 

Much of the success in creating and operating Disney World can be attributed to Disney’s acquisition of the Reedy Creek Improvement District. Without it, Disney will now have to wait for permits from the state for any new construction and be severely handicapped by government regulation like all other companies are. 

DeSantis is aware of Reedy Creek Improvement District’s importance for Disney and is more than happy to take the special privilege away.

Following the introduction of the Parental Rights in Education bill, Disney CEO Bob Chapek vowed he would do everything to have the legislation repealed. This rightly angered DeSantis, who saw this as a corporation undermining Florida’s political process. Earlier this month, the Florida Governor stated: 

“For Disney to come out and say ‘The bill [Parental Rights in Education] should never have passed and that they are going to ‘actively work to repeal it’… I think that crossed the line. This state is governed by the interests of the people of the state of Florida. It is not based on the demands of California corporate executives. They do not run this state. They do not control this state.”

When floating the idea of removing Disney’s special self-governing privileges, the governor stated: 

“Disney has alienated a lot of people now. And so the political influence they’re used to wielding, I think has dissipated. And so the question is, why would you want to have special privileges in the law at all? And I don’t think that we should”

Disney’s stock price has dropped over 10% in just the last month. With the removal of the Reedy Creek Improvement District, there is no telling how much further the company’s value will drop. 

High-level employees at Disney have spoken under the condition of anonymity to the New York Post. They’ve voiced their concerns about Disney’s latest foray into the culture wars. Many believe that Disney’s latest problems are a result of its new CEO, Bob Chapek, who is more than willing to bow to the woke mob. 

One employee, who had worked for former CEO Bob Iger and the current CEO, stated the following: 

“I don’t think this would have happened under Iger. Disney now finds itself in the middle of a culture war, and it shouldn’t have been there.”

It is no surprise that Disney is suffering financially for alienating its entire conservative customer base. Unfortunately, Disney CEO Bob Chapek was unfamiliar with the motto “Go Woke, Go Broke,” and now his company is suffering. 

 

 

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