esrosedotblog

EISNER

Comcast has made its move for Disney. Unfolding events will surely rival any film scenario. You have to live within the epicenter of LA business life to understand the depth of animosity toward Michael Eisner. The media provides a constant drumbeat of criticism and backbiting from both sides. It is far more riveting to follow the Disney chronicles than the sports page.

The LATimes is filled with joyous vitriol today. At last, the suppressed can speak and the old opponents can gloat. Eisner is one of the last corporate despots: the guys who control the boards; who get paid every year no matter what; who have run the enterprise so far from the scrutiny of shareholders that the mind boggles.

Eisner has been responsible for gutting Disney of any opposition or competition from the Board or other executives. Even the family, notably Roy Disney, have been tossed. The list of executive talent which have left voluntarily is quite lengthy; start with Katzenberg and move forward. One ex-exec who is having his payday is Stephen Burke from Comcast. Look at this from the Wall Street Journal.

Takeover Team Knows Its Prey Inside and Out
Comcast Chief Brian Roberts Has Asset in President Stephen Burke, Who Worked for 12 Years at Disney

In June 1998, Michael Eisner called up Brian Roberts, then president of Comcast Corp. and began yelling. The chief executive of Walt Disney Co. was furious at Mr. Roberts for hiring Stephen Burke, one of his senior executives, to run Comcast's cable systems.

After he hung up, Mr. Roberts immediately called Mr. Burke. "I know I got a great guy now," he said, according to someone familiar with the call.

Mr. Eisner now has more to be angry about. Comcast is citing Mr. Burke's 12 years of experience at Disney at three of its divisions as one of the reasons that Disney directors and shareholders should back its $48.7 billion unsolicited offer for the entertainment giant. Comcast executives said Wednesday that Mr. Burke would oversee the merger and have a major role in running Disney if the bid succeeds.

Mr. Burke, Comcast's president, knows the Disney empire well. During his 12-year career at Disney, he launched the company's chain of retail outlets, helped lead the turnaround of Euro Disney and eventually was promoted to president of ABC Broadcasting. He was so successful he was on the short list of likely candidates to succeed Mr. Eisner.

The doctored photo of Eisner is from the website of The National Labor Committee For Worker and Human Rights which is a major Disney critic