Heigh-ho, Disney: Free speech dilemma in the happiest place on Earth

Walt Disney once remarked, 'You reach a point where you don't work for money.' For shareholders of Disney, the most common complaint in recent years is that the entire corporation appears to have reached that point in pushing woke movies that have bombed with consumers and a political fight with Florida that has already cost the corporation dearly. At the heart of two recent controversies are free speech disputes.

Over 60% of voters support the language in the Florida parental rights act. Nevertheless, Disney can make such political campaigns the priority over actual sales so long as the shareholders do not revolt. From the outset of the fight with Florida, some of us could not see the possible winning strategy for Disney. Disney is losing money in critical areas, raising prices, embroiled in internal conflicts and laying off workers. At the same time, CEO Bob Iger is facing an investor revolt.

Disney elected to go head-to-head in opposing the parental rights legislation and lost its favored status with both the state and many families. The question in the litigation is whether that is a prohibited cost to impose on the company or the cost of becoming a political advocate. In the end, Iger will have to decide if Disney is now so profitable that it has 'reached a point where you don't work for money.' Snow White and the shareholders may hold different views on that question.

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