Euro Disney Essay -- essays research papers

Only unrivalled stratum after the grand opening of EuroDisneyland, Robert Fitzpatrick left everyplace(p) his position asEuroDisneys chairperson, citing a desire to start his own consulting trusty. In April 1993, PhilippeBourguignon took over the helm of EuroDisney, horizon by some to be a sinking ship. EuroDisneypublicly reported a net loss of FFr188 zillion for the fiscal year ending September 1992, though cumulative losses through April 1993 approached half a billion dollars.1 The European park also fell onemillion visitors short of its goal for the first year of operations, with the French comprising only 29% ofthe parks total visitors between April and September 1992a far watchword from the predicted 50%.2In addition to the financial woes slowness on Bourguignon, he was also expected to stem the flowof bad publicity which EuroDisney had experienced from its inception. physique ii development atEuroDisneyland was slated to start in September 1993, but in light of their drained cash reserves (FFr1.1bnin May 1993)3 and fantastical debts (estimated at FF421bn),4 it was unclear as to how the estimatedFFr8-10bn Phase Two project would be financed.Despite this bleak picture, Michael Eisner, CEO of Walt Disney Co., remained optimistic aboutthe venture Instant hits ar things that go away quickly, and things that grow slowly and are part of theculture are what we look for. What we created in France is the biggest private investment in a contrastedcountry by an American company ever. And its gonna pay off.5The Dawning Of DisneyAfter first attempting to start a commercial arts firm in 1917, Walt Disney, along with his partner UbIwerks, joined the Kansas city Film Ad Company, and began to learn the craft which would carry himto fame vignetteing. By 1919, Walt was making independent short cartoon ads for theatres. In 1920,Walts brother Roy became a partner, and before long thereafter the group moved to Hollywood. in that location, theydeveloped a stand ardized cast of cartoon characters, which were mass-produced exploitation a large staff andartists working on a single easy-to-draw cartoon. The year 1928 saw the creation of Mortimer Mouse,later renamed Mickey.1 David Jefferson. American Quits chairman Post at Euro Disney, The Wall Street ledger (January 18,1993), p. B1.2 Ibid.3 Euro Disney Waiting for Dumbo, The Economist (May 1, 1993), p. 74.4 Peter Gumbel and Richard Turner. Blundering... ..., commented one.27 Differentcultures have change definitions of personal space. EuroDisney guests problems ranged from peoplewho either got too blotto or who left too much space between themselves and the person in front ofthem.It was thought that the competition from French theme parks, which had significantly rejectadmission costs, might be a concern. However, Fitzpatrick did not appear to be daunted. We arespending 22 billion French francs before we open the door, dapple the other places spent 700 million,he said. This means we ca n pay infinitely more attention to expatiateto costumes, hotels, shops, trashbasketsto create a fantastic place. Theres just too great a response to Disney for us to fail.28Bourguignons PredicamentWith these bold predictions of his predecessor echoing in his ears, Bourguignon stared at his desk.Surrounding him were piles of financial statements drowning in red ink (to the tune of $ cholecalciferol million),stock market reports chronicling EuroDisneys falling scathe from FFr166 to approximately FFr65, andnewspapers full of stories of EuroDisneylands cultural blunders. Bourguignon wondered where hewould find the magic to turn this solid ground around. Euro Disney Essay -- essays research papers Only one year after the grand opening of EuroDisneyland, Robert Fitzpatrick left his position asEuroDisneys chairperson, citing a desire to start his own consulting firm. In April 1993, PhilippeBourguignon took over the helm of EuroDisney, thought by some to be a sinking shi p. EuroDisneypublicly reported a net loss of FFr188 million for the fiscal year ending September 1992, though cumulativelosses through April 1993 approached half a billion dollars.1 The European park also fell onemillion visitors short of its goal for the first year of operations, with the French comprising only 29% ofthe parks total visitors between April and September 1992a far cry from the predicted 50%.2In addition to the financial woes weighing on Bourguignon, he was also expected to stem the flowof bad publicity which EuroDisney had experienced from its inception. Phase Two development atEuroDisneyland was slated to start in September 1993, but in light of their drained cash reserves (FFr1.1bnin May 1993)3 and monstrous debts (estimated at FF421bn),4 it was unclear as to how the estimatedFFr8-10bn Phase Two project would be financed.Despite this bleak picture, Michael Eisner, CEO of Walt Disney Co., remained optimistic aboutthe venture Instant hits are things that go away quic kly, and things that grow slowly and are part of theculture are what we look for. What we created in France is the biggest private investment in a foreigncountry by an American company ever. And its gonna pay off.5The Dawning Of DisneyAfter first attempting to start a commercial arts firm in 1917, Walt Disney, along with his partner UbIwerks, joined the Kansas City Film Ad Company, and began to learn the craft which would carry himto famecartooning. By 1919, Walt was making independent short cartoon ads for theatres. In 1920,Walts brother Roy became a partner, and soon thereafter the group moved to Hollywood. There, theydeveloped a standardized cast of cartoon characters, which were mass-produced using a large staff andartists working on a single easy-to-draw cartoon. The year 1928 saw the creation of Mortimer Mouse,later renamed Mickey.1 David Jefferson. American Quits Chairman Post at Euro Disney, The Wall Street Journal (January 18,1993), p. B1.2 Ibid.3 Euro Disney Waiting for Du mbo, The Economist (May 1, 1993), p. 74.4 Peter Gumbel and Richard Turner. Blundering... ..., commented one.27 Differentcultures have varying definitions of personal space. EuroDisney guests problems ranged from peoplewho either got too close or who left too much space between themselves and the person in front ofthem.It was thought that the competition from French theme parks, which had significantly loweradmission costs, might be a concern. However, Fitzpatrick did not appear to be daunted. We arespending 22 billion French francs before we open the door, while the other places spent 700 million,he said. This means we can pay infinitely more attention to detailsto costumes, hotels, shops, trashbasketsto create a fantastic place. Theres just too great a response to Disney for us to fail.28Bourguignons PredicamentWith these bold predictions of his predecessor echoing in his ears, Bourguignon stared at his desk.Surrounding him were piles of financial statements drowning in red ink (t o the tune of $500 million),stock market reports chronicling EuroDisneys falling price from FFr166 to approximately FFr65, andnewspapers full of stories of EuroDisneylands cultural blunders. Bourguignon wondered where hewould find the magic to turn this kingdom around.