Word: eisner
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Disney counters that Katzenberg forfeited the money by running out on his contract. Such quarrels rarely go to trial. But this time, as the movie poster used to say, it's personal. Eisner and Katzenberg despise each other...
...doffed his jacket and donned a Men in Black T shirt for his big entrance. "Just a little marketing gimmick," jokes Idei. "But the guests congratulated us." Idei got hoots of approval for Sony Pictures Entertainment's biggest film of the year from the likes of Disney CEO Michael Eisner, Intel boss Andy Grove, Seagram's Edgar Bronfman Jr., Time Warner's Jerry Levin and DreamWorks' Jeffrey Katzenberg, to name...
...dispute pits Jeffrey Katzenberg, the diminutive and determined former chairman of the Walt Disney Co. studio, against Michael Eisner, the towering and truculent chief executive and chairman of the whole Disney shebang. The fight stems from Katzenberg's claim that Disney promised him 2% of the profit from the film and other ventures he headed during his 10 years at the studio, a sum that might reach $250 million or more. Some of those projects, notably animated hits like Aladdin and The Lion King, generated billions in revenue...
...think Eisner doesn't know it. So he's tossing individual investors a bone, revamping and reactivating a direct-stock-purchase program he shut down in 1990, contrary to the wishes of many shareholders. It won't make all his problems go away, not by a long shot. But what amounts to a small gesture by Eisner is a very big deal for do-it-yourself investors. Direct-stock-purchase programs are a dirt-cheap way to invest small sums on a regular basis in some of the world's best companies--and, yes, that would still include Disney...
...that it levies some nagging fees: $10 to enroll, $5 plus 4[cents] per share on each purchase by check, and varying charges on shares bought via reinvested dividends. That last fee really irks me. Few programs charge to reinvest dividends. But, hey, somebody has to pay for Eisner's limo. Even with the fees, though, there is no cheaper way to buy Disney stock. Eisner is adding Disney to a roster that includes Exxon, Ford and Gillette, but the real benefit is that he will open a floodgate that other companies will probably pour through...