Why Peltz Isn’t the Solution for Disney’s Problems

Here’s a shoutout to those tech folks—among many, many others—who are putting their lives on the line as members of Israel’s defense forces right now, responding to the Hamas attack over the weekend. It puts everything else into perspective. For more details on Israeli tech folks’ involvement, see our story here. 

Meanwhile, Nelson Peltz has jumped back into the Disney fray, eight months after he abandoned his last threat of a proxy fight. Since then, Disney stock has plunged 27% to a low of around $80 last week, as the challenges facing the entertainment industry have deepened. Peltz now wants several seats on the entertainment company’s board, according to a report in The Wall Street Journal. If he doesn't get them, he may mount a new proxy contest, the WSJ said. He believes Disney shares to be “significantly undervalued” and thinks the company needs a “more focused” board that is aligned with the interests of shareholders. Peltz’s views about the board sound suspiciously like blather.  There’s no doubt Disney stock is ridiculously cheap, although it doesn’t take a Wall Street genius to figure that out.