The History of Disneyland Paris

In 1955, Disneyland was created by Walt Disney because of his love for cartoons and continued to be built by Roy in 1966 after Walt Disney’s death. Walt Disney was born December 5, 1901in Chicago, Illinois. He did not have the idea childhood due to his family being financially unstable and his father was not the nicest to him. As a child Walt’s father Elias believed in corporate punishment and beat him regularly. Since the family was poor, they had to move around a lot so they could find jobs. Walt and his brothers were forced to get jobs at young ages to help pay the bills for the family. In 1910, Walt moved out to a farm in Kansas City, Missouri. On the farm, Walt would sketch the animals with charcoal and that was when he developed his love for drawing cartoons.

In 1955, Disney opened its first theme park, Disneyland, in Anaheim, California, which covers more than 160 acres. The opening day was not without issues. The

The late 1800s and early 1900s saw the creation of the first amusement parks in the United States, resulting from the ability to create mechanical rides due to the industrial revolution sweeping the country. This activity was primarily localized in the state of New York, along the boardwalk of Coney Island, Brooklyn.

Although they were trying to survive from this bad financial hit, at that time the world also faced a financial crisis due to sudden economic recession.

Many people lost as much as ten times their initial investment, which shook consumer confidence. In an effort to cover their margins, people rushed the banks in masses, demanding their money. Soon, banks began to run out of cash and went bust.

This is when americans began to take their money from the banks for being unreliable since they could not get their money back. More than 600 banks failed in this time.

After Walt died, the company was at a loss because there was no discussion of corporate succession. Roy Disney chose to take over at 73 years old, despite his wanting to retire. Roy put together a group of Walt’s closest coworkers and together they worked to build Walt Disney World. The park opened on October 1, 1971, and Roy died two months later, leaving the company control in question again. Donn Tatum became CEO and Card Walker took over the studio in 1972. Walker took over Tatum’s position 1976 and the company struggled through the 1970s to produce a film audiences wanted. The world wanted sophistication, but Disney continued to produce G-rated movies. They

The run on Wachovia started when Washington Mutual, another bank largely owning home mortgages, started to go under on Thursday, September 25th, 2008. The day after that, Wachovia’s Chief Executive at the time, Bob Steel, called Citigroup Bank’s CEO to try and make a deal so Wachovia would not be completely destroyed. At the end of the day, Wachovia’s stock price had dropped 27%, and $5 billion in deposits had been withdrawn. After a week, there were only $2.4 billion of deposits left, causing the bank to eliminate many employees, and importantly, they could no longer receive short-term financing. As a bank typically lends more money than they have in deposits, they must finance the difference. With the huge run on deposits, they could not finance the operations or the loan losses of the bank. This created a quick spiral

Before Walt Disney World was built, Walt Disney had to secretly purchase the land using fake company names in order to buy it inexpensively. He first had to explore across the United States for the perfect location. He wanted to fulfill his idea: “A family park where parents and children could have fun together.” He had already begun when Disneyland opened in 1955. Opening day was successful in numbers: the freeway had a seven mile backup, an estimated 15,000 people were coming, but 28,000 showed up that day (Klein).

During the recent financial crisis, in the autumn of 2008, the Lehman Brothers bank collapsed. It was the biggest bankruptcy in history

With the opening of Tokyo Disneyland in April 1983 and the inflow of yen royalty receipts, the Walt Disney want to increase the assets and decrease debt, they realized they had an opportunity to use the yen royalties from Japan to pay down some of their debt:

Sadly, Walt Disney passed in December of 1967, leaving behind his dream for the park. However, President Roy O. Disney, Donn B. Tatum, and E. Cardon Walker, the top three executives for the company carried on the plans to open the new park. After many months of construction and planning, the park held its grand opening October 1, 1971. Since then there have been many additions and openings in the park, new traditions made, parades, and special guests attending. Walt Disney World became a part of the renowned world of entertainment and entertains millions every year.

1. What are the factors contributed to EuroDisney’s poor performance during its first year of operation?

Walt Disney Company had always been successfully operating theme park until 1992. Starting in 1955 where the first Disneyland set its foot at Anaheim, California and in 1983 in Florida (Hill, 2000). While in 1983, Disney faced a true challenge as they opened the first international Disneyland in Tokyo. In a fear of wide cultural differences between American and Japanese, it turned out an unexpected massive successful Tokyo Disneyland. As a result, Disney did not hesitate to invest a big sum of money for Euro Disney in Paris.

Walter Elias "Walt" Disney (December 5, 1901 – December 15, 1966) was an American entrepreneur, cartoonist,animator, voice actor, and film producer. He and his staff created numerous famous fictional characters including Mickey Mouse, Donald Duck, and Goofy. These cartoon characters became so famous that he designed theme park for the entertainment of children and family in U.S.A. Disney then thought to spread the theme parks around the world. Therefore Disney theme parks were opened first in Tokyo, Japan called "Disney Resort" which became sucuessful by luck. The second theme park was opened in Paris called " Disneyland Paris” which became unsuccessful because of the cultural differences between U.S and Paris. Keeping this problem in mind, Disney opened third theme park in Hong Kong called Hong Kond Disneyland which became successful.