'It's deep, it's pervasive'
Disney recently confessed that its pro-woke social agenda and ideologies have cost the company and as a publicly held corporation, its investors.
The company has been on a screed for several years now to promote the LGBT ideology, fight conservative moves to protect children in schools and demand special privileges from the state of Florida, where it has large properties.
It has needed, recently, to discount children's tickets at Disneyland and Disney World because of the fallout and attendance is down.
In fact, in an SEC report, the company conceded, "We face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products."
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"The success of our businesses depends on our ability to consistently create compelling content. Generally, our revenues and profitability are adversely impacted when our entertainment offerings and products, as well as our methods to make our offerings and products available to consumers, do not achieve sufficient consumer acceptance."
Now according to an MSN report, one state, South Carolina, has pulled its state funds from the company.
The report explained, "According to South Carolina State Treasurer Curtis Loftis, the decision to divest has to do with the company’s management abandoning their fiduciary responsibilities."
"I think it's clear to anybody paying attention that there's a structural rot inside of Disney. It's deep, it’s pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it can't be fixed," he said.
He suggested that's not good for the company's future.
Fox Business Digital has reported the state's holdings included $105 million in Disney debt securities, which will not be renewed upon maturity.
In an interview with Fox Business Digital interview, Loftis blasted the company's alignment with the Environmental, Social, and Governance social agenda.
He said, "People sometimes forget that ESG has nothing to do with investing. ESG is a speech and behavior code that was … created by the left and delivered to everybody else under these virtuous circumstances, or presumed circumstances."
He charged that running Disney now is "the gender studies crowd … That's why their movies are flops and their market cap, I think, is about half what it used to be. It's a tremendous loss to America, we all grew up on Disney."
Actually, Disney's market price recently was about $91, far down from the nearly $202 from 2021.
A commentary at RedState said, "And Disney takes another blow on the chin, this time from South Carolina."
The report noted Loftis explained the move is to send a message.
"I just want other people to see that you can stand up to these people and you live to invest another day. There are plenty of good investments out there that aren't as risky as Disney."
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