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Big Trouble in the Magic Kingdom

Roy Disney recently sent a letter of resignation from the Disney Board of Directors to Michael Eisner, CEO of Disney. He explains in detail why he's leaving the company his uncle founded:

1. The failure to bring back ABC Prime Time from the ratings abyss it has been in for years and your inability to program successfully the ABC Family Channel. Both of these failures have had, and I believe will continue to have, significant adverse impact on shareholder value. 2. Your consistent micro-management of everyone around you with the resulting loss of morale throughout the Company.

3. The timidity of your investments in our theme park business. At Disney's California Adventure, Paris and now in Hong Kong, you have tried to build parks "on the cheap" and they show it and the attendance figures reflect it.

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