A Disney shareholder is speaking out against the company's involvement in Florida politics by actively opposing the Republican-led "Parental Rights in Education" bill championed by Republican Gov. Ron DeSantis.
Fox Business reports Ray Keating, an economist and editor of DisneyBizJournal.com, said when companies dive into politics, it rarely turns out and well.
"Here’s a suggestion for Disney CEO Bob Chapek: Get back to business, that is, excellence in storytelling, and stop wasting shareholder’s money on political crusades that have nothing to do with Disney’s business," Keating told Fox News Digital.
"We all have the right to have our voices heard on issues, but not on the shareholders’ dime."
DeSantis signed the legislation into law last week that bars instruction on sexual orientation or gender identity in kindergarten through third grade. Critics have depicted the bill as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill.
Disney last week said it will work to repeal the legislation in Florida because it's dedicated to standing up for the rights and safety of the LGBTQ+ community.
"Disney Execs Should Listen to Milton Friedman and Stop Stealing from Shareholders" by Ray Keating – “CEO’s using shareholder resources for endeavors that have nothing to do with the company’s business is not about freedom, rather it’s theft.”https://t.co/hekWvy9xaC pic.twitter.com/AoXVtMBhJh
— DisneyBizJournal (@DisneyBizRay) April 1, 2022
Keating, who has written about how Disney's activism is bad for business, said Disney's decisions on the Florida bill has meant the company is catching heat from both sides of the political spectrum. Ever since Chapek spoke up, critics on the right have condemned Disney as being too "woke" and even talked of boycotting the resort.
"Disney’s management succumbed to political pressure from activists on the Left, and now it’s getting hit from the Left and the Right," Keating told Fox News Digital. "If I weren’t a shareholder, I’d find it amusing."
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