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In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Card?

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  • In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Card?

    http://www.orlandosentinel.com/busin...,2569937.story

    Refinancining Universal's loans are looking precarious in the face of a 2010 analist predicted credit crunch, and a current debt of $950 million. The film/theme park giant's economic strife is further complicated and magnified by $teven $pielburg's con$ulting contract. The famed producer/director has been making millions annually from Universal for years - $20 million just last year. Several hundred million is possibly what the Universal will owe $pielburg in 2010 should he decide to exercise his contractural consultant buyout clause. The word "con$ultant" seems to be synonymous with the word "evil" these days.

    You might be wondering, if everything goes awry, what does the company stand to lose? Budget cuts on new attractions, or being forced to sell off part of the reeort (maybe SunCal hee hee), or else geting on it's knees and begging it's owners to loan them some serious dough.

    Universal is suffacating from the tight squeeze it is in. Are there any paramedics out there?
    Last edited by Ride Warrior; 06-22-2009, 07:17 PM.
    To Boldly Go Where No MiceChatter Has Gone Before!


  • #2
    Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

    Originally posted by Ride Warrior View Post
    Refinancining Universal's loans are looking precarious in the face of a 2010 analist predicted credit crunch, and a current debt of $950 million. The film/theme park giant's economic strife is further complicated and magnified by $teven $pielburg's con$ulting contract. The famed producer/director has been making millions annually from Universal for years - $20 million just last year. Several hundred million is possibly what the Universal will owe $pielburg in 2010 should he decide to exercise his contractural consultant buyout clause. The word "con$ultant" seems to be synonymous with the word "evil" these days.
    As far as I know, he hasn't done a single thing for the parks lately. I don't know what they're paying him for.

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    • #3
      Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

      Imagine the rewards dollars they'd have if they could! Woo!
      Just countin' the days til the next visit!

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      • #4
        Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

        Originally posted by JtnOrl View Post
        As far as I know, he hasn't done a single thing for the parks lately. I don't know what they're paying him for.
        You;ve got me? All I know, is that one too many close encounters with $pielburg must leave Universal hoping for a bailout.

        Originally posted by All4dISNEY View Post
        Imagine the rewards dollars they'd have if they could! Woo!
        :lol: They could take a Disney dream vacation and celebrate the moments in their lives!
        To Boldly Go Where No MiceChatter Has Gone Before!

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        • #5
          Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

          I love most of Spielberg's movies, but it's pretty disgusting how he is soaking the theme parks for doing s**t all. How can they be so stupid as to sign a blood sucking contract like that? Consulting? LMAO. The only thing he's consulting is his banker and his broker.

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          • #6
            Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

            Originally posted by disneyfann121 View Post
            I love most of Spielberg's movies, but it's pretty disgusting how he is soaking the theme parks for doing s**t all. How can they be so stupid as to sign a blood sucking contract like that? Consulting? LMAO. The only thing he's consulting is his banker and his broker.
            Spielburg used to be a fun guy. Now he's more of a fungus.
            To Boldly Go Where No MiceChatter Has Gone Before!

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            • #7
              Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

              Remember, Speilberg is one of the producers of the Transformers franchise. They are putting in a Transformers ride.

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              • #8
                Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                so go easy on him guys lol.

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                • #9
                  Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                  Originally posted by sir clinksalot View Post
                  Remember, Speilberg is one of the producers of the Transformers franchise. They are putting in a Transformers ride.
                  Well, his producing Transformers is a saving grace. Hope he'll have a hands on role in the desiging of the USH ride as well...like he did with Jurasic Park.

                  Originally posted by Rex Dopey24 View Post
                  so go easy on him guys lol.

                  I'll try. :lol:
                  Last edited by Ride Warrior; 06-23-2009, 07:46 PM.
                  To Boldly Go Where No MiceChatter Has Gone Before!

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                  • #10
                    Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                    Normally I wouldn't care what kind of deal he has with Universal, but if his contract contributes to problems in the Universal theme parks, then I care a lot. I love those parks and I would be disgusted if they closed or couldnt afford new attractions partially because they got rooked in a bad deal with Spielberg.

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                    • #11
                      Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                      Seeing as Universal is owned by NBC, exactly who/what is in debt nearly $1 Billion?

                      "Who among you is wise and understanding? Let him show by his good behavior his deeds in the gentleness of wisdom." -- James 3:13

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                      • #12
                        Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                        Originally posted by PeoplemoverMatt View Post
                        Seeing as Universal is owned by NBC, exactly who/what is in debt nearly $1 Billion?
                        The Universal division as a whole (including films and theme parks)
                        is in debt close to $1 billion.
                        To Boldly Go Where No MiceChatter Has Gone Before!

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                        • #13
                          Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                          Spielberg is not a bad guy to hang out with for a day or so, can really throw a party.

                          Let's not kid ourselves, what ever they are paying Spielberg is chump change compared to the BILLIONS he has brought to the company. Jaws, Back to the Future, ET, Jurassic Park, Schindler's List, ect ect.

                          Any debt Universal has they brought upon themselves.

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                          • #14
                            Re: In Debt Nearly $1 Billion...Can Universal Refinance Loans Using Disney Credit Car

                            Originally posted by PeoplemoverMatt View Post
                            Seeing as Universal is owned by NBC, exactly who/what is in debt nearly $1 Billion?
                            Here's a good article which spells out the problems many parks, including Universal are facing: Debt loads spoil the fun for theme parks (Dealscape - Private capital)

                            Although it is staring down the barrel of $950 million in debt that needs to be refinanced by April 2010 amid a tight credit market, Universal Studios Inc. is rolling the dice to make major upgrades to its two Florida parks: Universal Studios Orlando and Islands of Adventure.

                            The Orlando Sentinel estimates that attendance at Universal's Orlando parks fell almost 20% during the first three months of the year. But Universal is counting on some Potter magic to turn that around. Should Universal's gamble pay off in terms of increased attendance as credit markets continue to loosen, the company is likely to find refinancing a bit easier, particularly with its deep-pocketed owners General Electric Co. (NYSE:GE) and the Blackstone Group LP (NYSE:BX) working on its behalf.


                            While the debt is huge, it sounds like Universal isn't in the same risk category as Six Flags and Cedar Fair.



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