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Miscellaneous Discuss Disney Phases Out Executive Car Perks in Iger Profit Push in the News & Rumors forums; Disney Phases Out Executive Car Perks in Iger Profit Push By Christopher Palmeri - Jul 18, 2013 3:25 PM CT Walt Disney Co. (DIS) is eliminating perks including executive car ...
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    Disney Phases Out Executive Car Perks in Iger Profit Push

    Disney Phases Out Executive Car Perks in Iger Profit Push


    By Christopher Palmeri - Jul 18, 2013 3:25 PM CT
    Walt Disney Co. (DIS) is eliminating perks including executive car allowances as the world’s biggest entertainment company looks to further boost profitability.

    “We’re phasing them out,” Chief Financial Officer Jay Rasulo said of the car allowances in an interview at last week’s Allen & Co. conference in Sun Valley, Idaho.

    Disney has been reducing costs by firing hundreds of workers, closing offices and outsourcing duties like video-game development as it looks to widen profit margins and extend a more than doubling of the stock price in the past five years. Rasulo, who has been conducting a company-wide review of expenses, said he’s seeking to modernize operations at Burbank, California-based Disney.
    “We looked at the way technology is changing our businesses,” said Rasulo, who didn’t discuss specifics. “We’re removing vestigial parts.
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    Re: Disney Phases Out Executive Car Perks in Iger Profit Push

    Quote Originally Posted by HauntedGabe View Post
    Disney Phases Out Executive Car Perks in Iger Profit Push


    By Christopher Palmeri - Jul 18, 2013 3:25 PM CT
    Walt Disney Co. (DIS) is eliminating perks including executive car allowances as the world’s biggest entertainment company looks to further boost profitability.
    Well, at least you've helped pad MoNoise's statement that profits are up
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    Re: Disney Phases Out Executive Car Perks in Iger Profit Push

    Quote Originally Posted by HauntedGabe View Post
    Disney Phases Out Executive Car Perks in Iger Profit Push


    By Christopher Palmeri - Jul 18, 2013 3:25 PM CT
    Walt Disney Co. (DIS) is eliminating perks including executive car allowances as the world’s biggest entertainment company looks to further boost profitability.

    “We’re phasing them out,” Chief Financial Officer Jay Rasulo said of the car allowances in an interview at last week’s Allen & Co. conference in Sun Valley, Idaho.

    Disney has been reducing costs by firing hundreds of workers, closing offices and outsourcing duties like video-game development as it looks to widen profit margins and extend a more than doubling of the stock price in the past five years. Rasulo, who has been conducting a company-wide review of expenses, said he’s seeking to modernize operations at Burbank, California-based Disney.
    “We looked at the way technology is changing our businesses,” said Rasulo, who didn’t discuss specifics. “We’re removing vestigial parts.
    Having been a part of the corporate world since I was literally 19 years old, it always shocked me that a perk like car allowances was given to corporate executives, who can certainly afford their own car expenses. It's the common workers who would actually appreciate and benefit from a perk like this, but no travel allowances ae generally extended to the full staff. Obviously this would be a HUGE expense and burdon on any company (the cost to a firm for health benefits alone are astronomical) so it's in no way feasible. I personally always appreciated it when they would make allowances for staff members who worked past a certain hour to be able to take a black car home on the company's dime. So good for Disney to make a sensible cut like this. Execs are enjoying big financial bonuses. How about throwing some of that surplus cash back into your travel. The only time companies should make allowances for cars is on business trips. Other than that, getting back and forth between work and home is a fact of life. Not a privelege. Be happy you kept your job in the wake of the cuts. Now shut up, gas up, and get yourself to the office.
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