Critical Thinking Required

Disney World vs Florida: Ready? Fight!

April 07, 2023 LBW Wealth Management Season 3 Episode 13
Critical Thinking Required
Disney World vs Florida: Ready? Fight!
Show Notes

In this episode, Ying and Nathaniel discussed the fight between Disney World and the state of Florida.  Back in 2022, the state of Florida passed the Parental Rights in Education bill, aka “Don't Say Gay” law.  Because of Disney World’s pushback, the Governor of Florida sought to take away Disney’s special tax district until he realized that the abolishment of the district would require taxpayers in Orange and Osceola Counties to pick up the tab for services paid by Disney World like fire protection and road maintenance, and more than $1 billion in debt.  Instead, a new bill was passed to take control of the special zone’s board.  The Governor also implied that the government wanted more control over Disney’s content within the parks.  In response, Disney passed a Declaration which essentially took control away from the future board and gave it back to Disney, the company.  There is a unique time period term “King Charles III clause" assigned to the Declaration, which makes the new Declaration valid virtually forever.  We believe any company has the right to make a stand on social matters; but at the same time, the power balance between the government and corporations is quite delicate.  It will be interesting to see how this event will continue to unfold, mostly at the cost of Florida’s taxpayers and Disney.