Conference koolit::disney

    How can you purchase Disney Stock and can you?

    Disney stock is traded on the New York stock exchange. Any stock
    broker should be able to handle the transaction for you. As to price,
    check your local paper. It's listed very close to DECs on the page.

    		Alfred

To answer a few...

You can buy Disney stock on the NY exchange.

You can join the NAIC (National Association of Investment Clubs), buy one share
at cost plus  $5.00  (handling  charges), join Disney's Divident Re-imbursement
Plan and then send  in  chunks  of  loot regularly to buy shares without paying
commission.  I used this method for myself and each teenager.

Dividends are minimal, growth is high.  The market value  of  $500.00  invested
just before the 1987 slump is now over $750.  That  is  the  poorest performing
(and  most  recently purchased) of the three "chunks" (mine, daughter's, son's)
of Disney that we own.

It fits one of my  major  criteria  for stock investment (not speculation!);  a
well managed company.

Dave

    
    
    Yes, but what are the benefits?
    
    I have heard that there are discounts on the hotels, as well as
    special off-peak (is there really an off-peak at WDW?) prices.
    
    Thanks,
    
    Chuck

Discounts are  along  the  same lines as for the Magic Kingdom Club members.  I
have not compared  the  two  since our last visit.  At that time, they were the
same.  Discounts on  rooms, admission, purchases (including outside_park Disney
stores and catalogs), "packages", National Car Retal, cruise vacation packages,
etc.

However, if I time our trip  to co-incide with the Annual Meeting, I can deduct
the appropriate expenses.

Dave

    	Has anybody noticed lately that Disney stock is selling for
    very close to what DEC is selling for.  I remember a short time
    ago when it was at about $65!
    
    Tom

    Yeah, and I remember a short time ago DEC was about $195!
    

    DISNEY FOR THE LAST 2 YEARS AT LEAST HAS BEEN GIVING 40% ON
    ACCOMADATIONS INSIDE THE PARK FROM THE MIS-AUGUST TO EARLY FEBRUARY
    TIMEFRAME IF YOU ARE A STOCKHOLDER. I DONT KNOW IF THIS APPLIES
    TO THE MKC CLUB AS WELL.

    I checked last winter and from the time I called (mid-November,
    maybe) until 2/9/89 (precise date I think!) Stock-holder discount
    was SIGNIFICANTLY better than Magic Kingdom Club discount.  MKC
    discount is year round and also applies to Shopping Village AND
    to the Disney Stores in Malls around the country.
    

    For all of those of you that are interested, the Disney stockholders
    discount of 40% on accommodations inside the park (except CBR none and
    trailer sites 25%) applies to the time period of September 10 1989 until
    February 8 1990 with the obvious exception of Thanksgiving and Christmas
    weeks. 
    
    
    Note, there is no restriction on the number of shares that you must own
    in order to take advantage of this offer.
         

Thanks for this pointer.  I called the number and changed my reservation in 
Nov/Dec to the stock ownership plan.  It is saving me $408.11 for my 8 day 
vacation.  I told them that I did not own any stock yet but the agent said
that I had until my vacation to get the stock.  I need to bring down proof of
ownership when I arrive.  I'll be calling my stock broker tomorrow.

/Jim Pappas

    We aim to please!
    

    Do they have a minimum of how much stock you have to own?
    

Yes there is a minimum.  You must own at least one share :^)

/Jim Pappas

    I am going in Nov. and I called last night to see if I could
    get in on the stock deal.  They said there were only a limited
    number of rooms at the Grand Floridian which qualify for this
    plan.  There were none available for the time we are going.  The
    person in charge of that kind of thing recommended that I call
    back in a couple of weeks and check again (someone might cancel).
    
    good luck

    			<< Number Please >>
    
    re.11
    
    What number did you call for the discount?  How did you identify
    youself?  What type of proof of purchase (stock certificate?)?
    

>    What number did you call for the discount?  How did you identify
>    youself?  What type of proof of purchase (stock certificate?

I think I called the MKC number.  

I identified myself as a non-stockholder that would buy some stock to 
get this discount.  

She said I had until my vacation to buy the stock and only said to bring
down something which showed I bought the stock.  She did not specify what
was needed and from the discussion, it didn't seem to matter very much.

/Jim Pappas

I called again.  The number is (407)827-7200.  This is the special programs 
office.

I asked what I needed to bring for proof of stock ownership.  They said
anything which shows you are a stockholder:  the stock cirtificates, photocopy
of an purchase receipt, a monthly statement from the broker or any other
similar item.  It sounds pretty loose.  I half expect for them to not ask for any
proof of ownership when I check in.  Of course I will have some with me.

/Jim Pappas

Jim,
    You may want to reconfirm this.  I just called the 7200 number and
    a lady named Morgan explained that you get the 40% discount if you
    show the Magic Kingdom Card [that you received when you bought the
    stock] at the time of registration.  
    
    Your original reservations must also be made through this stockholders
    discount office because they have their own special allotment of
    reservations just like the Magic Kingdom Club does.
    
    I tried to convert myy Magic Kingdom Club reservations for Nov.
    over to this plan for the additional 20% savings, but they told
    me that they didn't have any reservation openings in the stockholders
    group for my period of time.
    
    It wasn't clear to me that this Magic Kingdom Club card was the
    same we have at Dec. Maybe they can validate of the group number.
    Anyway make sure your reservations are made through this office.
    (407)827-7200.  What a savings.  Where can you get 40% on your money?
    DEC stock???
    
    Ralph [ 54 days and counting ]
    P.S. Thank you to all in this conference for helping me plan my
    first trip to DW. From accomodations, shuttles, car rentals, dining
    etc. the info here cannot be priced. Great help.

>    You may want to reconfirm this.  I just called the 7200 number and
>    a lady named Morgan explained that you get the 40% discount if you
>    show the Magic Kingdom Card [that you received when you bought the
>    stock] at the time of registration.

You do not get a MKC card when you buy stock, stock brokers are not in the MKC
business.

>    Your original reservations must also be made through this stockholders
>    discount office because they have their own special allotment of
>    reservations just like the Magic Kingdom Club does.

I made my reservations through the special program office.  You are correct,
number of rooms available under this program is limited.  This is similar to
the MKC where the number of rooms is also limited.  However, even though they
are both limited, they are not interchangeable.  When I changed from the MKC
program to the stockholders program, I had to move from a pool view room to 
a garden view room because that was all that was available at the Polynesian.
I really didn't care which of the two room types I had.

/Jim Pappas

    re .19 and .20
    
    When you become a stockholder you will receive a MKC card from Disney
    in the mail. On the card it specifically says WALT DISNEY COMPANY
    STOCKHOLDER on it. That is the only way it is different from the card
    that you get from personnel. If you buy stock and need the card in a
    hurry (like I did several years ago) you can call CRO and tell them the
    problem and they will make sure that one is sent ASAP.
    
    Twice this year and planning for next
    Bill

    Can we buy Disney stock with Disney Dollars?

SEAN/BEER=LABATTS

    Only if your stockbroker will accept them. 
    
    
    
    
    You can't buy stock from Disney directly. You have to go through a
    stock broker.

>    When you become a stockholder you will receive a MKC card from Disney
>    in the mail. On the card it specifically says WALT DISNEY COMPANY
>    STOCKHOLDER on it. That is the only way it is different from the card
>    that you get from personnel. If you buy stock and need the card in a
>    hurry (like I did several years ago) you can call CRO and tell them the
>    problem and they will make sure that one is sent ASAP.

I called, here is the scoop.  When you become a Disney stock holder, they will
automatically send you a MKC card that says "Disney Stockhoder" on it.  This is
instead of the "Digital Equipment Corporation" that is on the ones we get from
employee stockholder.

If you have this card, you can show it to validate the 40% discount.  If you
do not have the card, you can show any other type of proof of stock purchase.
The receptionist said that I would need the card to get the 10% discount at
shops.  When I told her I had a DEC card, she said it was the same as the 
stockholders card for normal purchases in shops.  So it is not important that 
I get the "stockholders" MKC as long as I bring down my stock purchase receipt.

/Jim Pappas

	According to a Business news show on TV this morning, 19% of
	Disney's shares of stock are owned by people who only own one
	share of stock.  This is the highest percentage of any American
	stock.

	The show did not give any reasons as to why so many people would
	only own one share of stock, but we know why :-)

								John T.

Has anyone heard whether the stockholder's discounts are on for 1990?

    REF.  .3
    
    Hi Dave,
    
    How can I join this NAIC?  Is there a fee for joining the club?
    Can you please give me a number or an address for information and
    purchase. 
    
    Thanks,
    Phil

Address for NAIC is:

	   NAIC
    	   P. O. Box 220
    	   Royal Oak, MI   48068

Re: .26
    
I realize that this info is late but better late then never.

The Disney shareholders plan for 1990-91 is as follows:

  Reprinted without permission from my official shareholder package

"Disney Shareholders of record receive a 40% discount off regular 
rates at the following WALT DISNEY WORLD Resorts:

* Disney's Yacht and Beach Club Resorts
* Disney's Contemporary Resort
* Disney's Polynesian Resort
* Disney's Fort Wilderness Resort Trailer Homes (25% of Campsites)
* Disney's Village Resort
* The Disney Inn

This fantastic offer is available from:

* September 2,1990 - September 30,1990
* November 1,1990 - November 20,1990
* November 25,1990 - December 18,1990
* January 1,1991 - February 9,1991

Reservations must be booked through the phone number listed below. 
This offer does not apply to previously made reservations. Limited 
number of accommodations available and all reservations subject to 
space availability. Offer does not apply to Vacation Plans,group/
commissionable rates or other special promotion. Offer does not include 
Concierge Service or Suite accommodations (except Disney Village Resort
Club Suites),preferred campsites at Disney's Fort Wilderness Resort and
Campground,Disney's Caribbean Beach Resort or Disney's Grand Floridian
Beach Resort. Additional adult charges apply.

         For Reservations, please call:
         407-W DISNEY, Extension 72

You must identify yourself as a Shareholder and your stock certificate 
number will be required at time of booking to take advantage of this 
offer. Present Magic Kingdom Club membership card at check-in"
                    
Bill

    Bill,
    
    I am a recent Shareholder, did you receive a special package from your
    broker or Disney?  How long does it take after trade settle date?  
    
    I have made reservations for September for the Polynesian under the
    special Shareholders plan, but I was not required to give the
    Certificate # until check-in.  
    
    However, I made reservations for my brother at Ft Wilderness, also under 
    the Shareholder special and they required my MKC chapter to hold the 
    Shareholder special rates.  They also require the Certificate # at
    check-in.  
    
    Cheryl

    re .30
    
    The info comes from Disney. It may take a while so what I would
    recommend is you call Disney, tell them you just became a shareholder
    and would like info on what the benefits are and they will it mail to 
    you a lot quicker than waiting for their computers to catch up with you.
    
    If I remember right I belive Jim Pappas did just that last year after
    he became a shareholder just before he left. Maybe he can shed some
    light on the process. I've been a shareholder for the 5 five years so
    its automatic now.
    
    Bill 

    
    ARRGHHH!!  We bought Disney stock hoping for this special, but somehow
    they seem to have excluded the whole month of October :^(  Which is
    when we have planned to go (no changing that - 2nd anniversary trip).
    
    SEAN/BEER=LABATTS

    
    Thanks for the info Bill.  I'm also a recent stock purchaser and haven't
    received the info.
    
    Question, all these benies have to do with WDW, what about Disneyland?
    Nobody mentions what specials those of us who live on the west coast
    and own stock get.
    
    Any one can answer, and if no one knows I'll call that Florida phone
    number.
    
    Thanks,
      +-Sharon

    re .33
    
    The info I received says nothing about extra discounts at Disneyland
    on accomodations. It only mentions the special package stays
    referenced in the MKC 1990 Membership Guide and the usual MKC member
    discounts that you would normally receive.
    
    Bill.

    I have been a stockholder since last fall.  I became a stockholder when
    I learned about the stockholder's special.  I made reservations for the
    Poly under the stockholders special, but I ended up changing over to 
    passholder's special once that was offered because it was a better
    deal.

    I have not received any information from Disney regarding the
    stockholder's specials.  All of my info has come from this file,
    primarily from Bill Kumpel.

    When I made my reservations for the Poly last year, I did not need any
    proof of stock ownership when making the reservation.   I was told to
    bring any proof of stock ownership (certificate, purchase receipt,
    monthly statement, etc) and show it at check-in.

    Similarly, under the annual passholder's special, I did not need to be a
    passholder when the reservations were made, but I was supposed to show
    my pass at check-in.  They never asked to see my pass.

    
    Yesterday, when I got home I found a postcard with Dick Tracy on it.
    The picture has Dick Tracy (Warren Beatty) firing a machine gun with
    the words BE THERE FIRST Midnight, Thursday, June 14.
    
    The note is as follows:
    
    Dear Disney Stockholder,
    
    BE THE FIRST TO SEE "DICK TRACY", MIDNIGHT, THURSDAY, JUNE 14TH.
    
    A limited edition T-shirt is your ticket of admission for a 
    guaranteed seat at the first showing of "DICK TRACY" at your
    local participating theatre.
    
    T-shirt Tickeets are on sale now at the theatre boxoffice. The
    quantity is limited to theatre capacity.
    
    TAKE YOUR FAMILY AND FRIENDS TO THE MOST EAGERLY AWAITED MOTION
    PICTURE EVENT OF THE SUMMER.
    
    GET YOUR T-SHIRTS NOW. DON'T MISS IT!!
    
    The T-shirt is shown and looks like it has a large ticket stub on it.
    The shirt says
    ADMIT ONE
    12:01 A.M. Friday, June 15
    (picture of Dick with the machine gun)
    DICK TRACY
    I Was There First
    
    I guess this type of promo is something stockholders can look forward
    to, or maybe just this time since Disney wants this picture to be bigger
    than BATMAN.
    
    I will be going to the 'theatre' this evening so if the shirts are
    available at that particular place I'll tell ya how much it costs.
    
    +- Sharon
            

I am a stockholder, but I didn't get one of those notices.  However, the 5 of us 
in my family are annual passport holders and one of us, my 8 year old daughter,
received a similar note yestarday from Disney.  This one was targeted at annual
passport holders.  I don't know why she was the only one to receive this.

/Jim Pappas

    Well, I'm not a stock holder, but the General Cinema at the Nashua Mall
    advertised the midnight showing last week.  It didn't look like it was
    at all exclusive to stock holders!  --S

    No, it's not a stockholder only special.  I think that they are trying
    to do some more advertising.  Several theaters in the area are selling
    the T-shirts to get into the Midnight showing.  The two that I have
    seen so far are selling the shirts for $12.00.  
    
    Last year I saw BATMAN a day early, at a reasonable hour, and didn't
    have to pay extra to do so.
    
    Ah, the webs that are weaved to capture the almighty buck!
    

    
    Well, I saw Gremlins 2 last night and checked out the tickets for
    D.T.  I (and 3 buddies) had planned on buying if they were $10 or less.
    They were $15 so I'm not going midnight Thursday!
    
    I haven't been to the movies in a couple of weeks so I didn't know
    that anyone could buy the T-shirts.  Sorry bout the false stock-
    holder bennie :(
    
    +- Sharon

    Well I bought the shirts (four of them) and we're going.  Crazy?  Maybe.
    You can look at it this way.  $5 -- typical cost of admission.  $7 --
    for a good quality T-shirt.  $12 not so bad.
    
    My Disney *Passes* expired so I have to do something.
    
    jerry_who_needs_to_go_to_disney_bad

    I purchased my shares of Disney stock several months ago.  I have yet
    to receive my package of information in the mail.  So I called the
    office in Anahiem to find out the procedure.
    
    They informed me that it was necessary for me to contact them directly,
    via a letter, requesting the package of information.  They also said
    that it would be necessary to present the "CARD" at the front desk to
    receive the 40% discount.
    
    Process is to send:
    
    Name
    Address
    Stock Certificate #
    
    to:
    
    Magic Kingdom Club
    P.O. Box 4489
    Anahiem, CA 92803
    
    A quick one liner should read that you recently purchased Disney Stock
    and would like the Shareholders information Package sent to your home.
    
    If anyone has experienced anything different please let me know.
    
    Cheryl

	RE: -.1

        I sent a letter last year, and I never got a reply.  While in
        WDW, I was talking with someone in the marketing department to
        find out why I was never added to their stockholder list.  I
        found out that I needed to include the stock certificate
        numbers so they could verify that I bought the stock.  I
        included the purchase receipt but I guess that was not enough.

        I am a little disappointed that they did not at least write
        or call me back letting me know my letter was discarded.

        I called my stock broker yesterday and asked him to mail me
        the stock certificates.  I will send a letter once I receive
        them.

        /Jim Pappas

    
    I followed the advice here and made reservations months ago
    with the stock owner discount, but have foolishly waited
    until the last minute to purchase stock (well I've got a
    few weeks - 12 Dec.)   Does anyone have the number for the
    stock owners association mentioned here (just an address is
    given) or a phone number for a stock broker?  A friend tells
    me that the processing fees to buy just 1 share might cancel
    out my discount.  I'm afraid if I use the mail and join this
    club, by the time I get more info it will be too late.
    
    thank you thank you
    ellen
    

    
    Well, since Disney stock is at around 95 or so, and a discount broker
    (I used Baybank) will process for about $30, if you save $130 by getting 
    40% off normal price, you'r ok.  The detemining factor will be your length
    of stay.
    
    Plus you get the stock for other years' discounts.
    
    Nobody at Disney ever asked to see our stock (nor did they even ask for
    a stock number), when we went down this year.  As long as you buy the
    stock before you go, get a transaction number form your broker, you
    should be ok.
    
    SEAN/BEER=LABATTS

    Just tried calling in a reservation for next December and Robin
    told me there were no Disney Owners Discounts available for then
    and that she wouldn't have info on them until next fall for that
    timeframe.  Also, she said if I booked now and a package was offerred
    later, I couldn't change to the discount package. Sound correct
    to you?
    Any experiences like these? Any solutions appreciated.
    Thanks,
    Gary
    

    My stock holder's Magic Kingdom Club card arrived in the mail
    yesterday.
    
    Bill
    

    
�    My stock holder's Magic Kingdom Club card arrived in the mail
�    yesterday.
    
     Yes, mine too.  It seems that as soon as I requested to have the stock
     certificates in my posession (rather than letting the broker hold onto
     it), I have been "officialy" recognized by WDW as a stockholder.
    
     I am now getting annual reports, voting cards, MCK stock id, etc.  I
     guess that this is because now they have to send *me* my dividend
     checks (rather than BayBanks, which is my broker and used to direct 
     deposit my dividend checks), I am now on the right mailing list...
     Dunno.
    
    SEAN/BEER=LABATTS

    My last dividend check will really help with the cost of going to WDW
    in April. 
    
    Now what can I get for $1.74?????
    
    Bill
    

    
    re: -2 & -1
    
    I got all that stuff in the mail recently, too.  I didn't ask for it
    like Sean did, tho.  My first dividend check was better than yours,
    Bill.
    
     .15 cents!!!  No lie!
    
    Do they send these checks out quarterly or yearly, or what?  I'm sure
    the tax man will be pleased, to fill out a another form because of a
    .15 cent dividend.  YUCK
    
    +- Sharon

    I also received my stockholders MKC card in the mail two days ago.  As
    was stated earlier, you will not get thse unless you take posession of
    your stock certificates.  Last year I let my stockbroker hold my
    certificates, and I was not getting any of the mailings I was
    expecting.  I called WDW and they told me I needed to get the
    certificates.

    Has anyone heard any updates on the availability of stock owners'
    discounts for 1991?
    
    -Ken

    
    Hi folks,
    
    If I wanted to buy a few shares of Disney and don't want to pay a
    broker fee, can this be done? Or do you have to suffer with the broker?
    
    And exactly what did you do to get "on board" so to speak? Is it that
    you must have the certificates sent to you to hold? Thanks for the
    advice...
    
    Jim
    

    If you can find someone willing to sell you a few shares,
    then it is a simple matter of having him sign his certificate to
    you and then you send all information, etc (certified mail of
    course) to the transfer agent, who will then
    send you a new properly made out certificate.
    
     But the best (and easiest) way is to deal with a broker. Surely
    a discount broker won't charge too much. Just ask for the 
    certificate to be sent to you, not held in "street name". The Broker
    pays for the postage, gets you the latest market price, etc.
    

    Everyone attending the Annual Meeting of stockholders earlier this week
    in Anaheim was given free admission to Disneyland after the meeting.
    Not bad...
    
    

    Has anyone gotten their 1990 annual report?  As you can guess, I
    haven't received mine yet.
    
    Bill
    

    
    Yes, several weeks ago.  Do you own the stock or does the broker hold
    it for you?
    
    SEAN/BEER=LABATTS

    
    re. .3:
    
�                                           join Disney's Divident Re-imbursement
� Plan and then send  in  chunks  of  loot regularly to buy shares without paying
� commission.
    
    Would anyone (Dave?) be willing to elaborate on what this plan is?
    
    - Sean

RE: 63.58  BEATLE::REILLY

    
>�                                           join Disney's Divident Re-imbursement
>� Plan and then send  in  chunks  of  loot regularly to buy shares without paying
>� commission.
>    
>    Would anyone (Dave?) be willing to elaborate on what this plan is?
>    
>    - Sean

The plan has been discontinued.

    OUCH!   I called down to Disney last night to book accommodations for
    December with Shareholders discount fro recent stock purchase and was
    told that a new policy (this year) req'd ownership before January 18th
    for qualification on discounts this year.
    Any suggestions on how to counter this other than sobbing on the phone
    for some unbelievable amount of time?
    
    Gary
    

  My husband told me last week what he's getting me for our first anniversary.
  

  One share of Disney stock.  A dream come true.

  It'll take a couple of weeks to get the stock certificate.  Then I just
  might call to see if I'm eligible for any discounts.

  121 days to Disney

  Marilyn

Does anyone happen to know what the current stockholder discount dates are?
We may be postponing our vacation and I was looking for a way to get to WDW
sooner, possibly through the stockholders discount.  We purchased a share of
stock this March with our tax refund, but didn't look into using it because
of the new restrictions.  When I called the CRO last week I didn't get much
information because they said we couldn't use our discount till January.  They
also wouldn't send any information as they said we will get that as part of
the "annual stockholders mailing".  Is there a specific time each year the
stockholders special is available?  Or does it change from year to year?

Thank you,

Joey Hanlon.

    
�                         When I called the CRO last week I didn't get much
� information because they said we couldn't use our discount till January.  They
� also wouldn't send any information as they said we will get that as part of
� the "annual stockholders mailing".  Is there a specific time each year the
� stockholders special is available?  Or does it change from year to year?

    January?  That's weird.  Maybe they just meant you can't take advantage
    of it until next year.
    
    Anyway, while not set in stone, stockholders specials run on non-plan
    room nights and are usually in effect during the "slow" months.  We
    used ours in October and got 40% off our rooms.  I think it changes
    year-by-year depending on when WDW thinks "slow" will be.
    
    Usually you get a mailing, but I noticed that I didn't get all the
    mailings until I physically had the stock in my possesion (some brokers
    keep the stock and send you a report every quarter;  we had that and
    never got any mailings that way).  Also, you can call CRO, but
    information out of there is of various merit - not everyone is up on
    all the specials all the time.
    
    Watching this notesfile is a good way to find out, because a lot of 
    stockholders here get the information some way or another and post it here.
    
    - Sean

  My husband gave me a share of Disney stock for our anniversary this year.

  I wrote to them requesting a Magic Kingdom Club card.  The reply I received
  stated that in order to receive a card I had to have been a stockholder
  by January 18, 1991.  The next mailing of cards would be next January.

  I got the impression that they have changed their policy and are only
  sending cards once a year with the annual stockholder information.  (BTW,
  if you were a stockholder prior to this year, you can request and receive
  a card.)

  Marilyn
  37 days to Disney

Hi Marilyn,
	Thanks for the information...  Looks like we're getting the same
story...  Oh well, next year there will be no question, so we'll just have
to go back and test out the "deals".  (kind of a lame excuse, but it doesn't
take much, it's just selling my husband on the idea.  I know our son will
be on my side!)

Joey.

    I've read through all of the replies to this note and didn't find any
    mention of this, but, is the 40% off (for the stockholders) good for
    the admission to the theme parks or just good for lodging?  It would
    seem that if you stayed outside the WDW then it wouldn't be all worth
    going out to buy a share of stock!
    
    Steve
         

    I have never seen a discount to admission, sorry...

    The 40% off specials, when they have them, only apply to lodging, and
    then they only apply to selected hotels.  Still a good deal if you can
    get them.

>>    I have never seen a discount to admission, sorry...
    
    	The only discounts I have seen from owning stock is if you can get
    to the stockholders meetings, when you go in they will give you a free
    pass good for either coast for a day (all three parks in WDW).
    
    	Or, if you have no other source for a Magic Kingdom Club card, 
    stockholder relations will send one to you, and that is good for a
    couple of bucks a day per person.
    
    tom

    I was just told by the MKC Membership number that Disney will continue
    it's Stock Owner Membership discounts for 1992. You have to be an owner
    of record on or before 12-23-91 (They want your 12-91 statement as
    proof). My stock broker had mentioned that Disney was going to
    discontinue this program next year. When I asked the MKC Membership
    person, I was told that it was under consideration, may happen, but no
    decision has been made at this time.
    
    I was also told that they would start sending out Membership cards in
    February.

    For those of you who are stockholders: I just got a copy of Disney's
    annual report: The picture on the cover is of Cinderella's Castle at
    Euro Disneyland, and it's absolutely beautiful! It's very different
    from the castles at the other magic kingdoms: more light, airy and 
    fairytale-like, with large oval windows and touches of gold and dark 
    blue. Very impressive!
    
    Ed
    

    A little news out of the stock holders meeting that was held yesterday.
    Eisner announced a 4 for 1 stock split (subject to stock holder
    approval) for sometime in April.  The reason: to make the stock
    affordable to the average investor.
    
    

So is it a good idea to buy some stock now, before the split, so that you'll
have four times as many shares on April 20? :-)  

Or buy after, when shares are cheaper?

Or both? :-)

							-- Nina

    Nina,
    
    Tough decision. My guess is that once split the stock will begin to
    inch up again so I'd buy now...unfortunately I can't because I'm going
    u-know-where in 137 days.
    
    Mike

    On the other hand, if you buy stock now, and the cost of the stock
    starts to decline (heaven forbid!)  you could end up loosing money
    at the time of the split.  Seems to me with the annoucement of the
    possible split, Some people may hold off buying stock until the
    split, which in turn could mean that the stock price starts dropping
    due to lack on interest!
    
    Just My opinion.
    
    mark

Can anyone recommend a discount stockbroker in the Nashua, NH area?  
(I apologize if this isn't an appropriate request for this notesfile, but I 
really am interested only in Disney stock... :-) )

Feel free to send me mail.

						-- Nina

    Re: Before or After
    
    Traditionally when a stock splits the price goes down some after the
    split due to the fact the price is somewhat inflated prior to the split
    by speculators. Witness the immediate rise in price at the time of 
    announcement.
    
    Also the last time the stock split (1985?) the stock price dropped
    from a split price of about 42-45 (from memory) to a low of 32 (this I
    remember because I still kick myself for holding out and ended up
    buying at 36 and change on the way up).
    
    
    Bill 

    
      In the Business section I have noticed a stock listing under the main
     Disney stock of a stock called "Disney wi", it is running around 37.
     Does anyone know what this stock represents?
    
    
                              -Rob
    
    

"wi" stands for "When Issued".

Since Disney stock is scheduled to split 4 for 1 in the near future this
represents the price of the post-split stock.

I don't know the details of trading "wi" shares.  Perhaps you could ask in
the SUBWAY::MARKET_INVESTING conference. Please report back here what you 
find out.

    Disney wi refers to DISNEY WHEN ISSUED stock.
    The present Disney stock will split soon. It has already gone
    Ex-dividend, so if you own the old stock you will receive 3 more
    shares. 
    If you own the NEW stock (dis_wi) no split. 
    Once the split occurs , then the "wi" will disappear from designation
    

    Thanks.
    
         -Rob
    

    	So, would any of you DISNEY stockholders be interested in getting
    	some of your investment back?  Especially those of you who just 
    	owned one share before the split?
    
    	I, too, would like to be a single-share stockholder and would
    	like to buy one share from you.  If you had only one before the
    	split, then when it split you received a certificate for three
    	more.  I can buy your certificate for that first share and leave
    	you with three.  That would leave you as a stockholder (most
    	likely the reason you bought that original share) and help me
    	be one too!
    
    	We can do it through the DISNEY transfer agent, eliminating
    	the broker middleman.  I'd like to get this done before 1992 
    	is over so that I can get the stockholder benefits for 1993.
    
    	Send mail.  I'll pay better than market value for the service.
    
    	Joe Oppelt
    	CSC32::J_OPPELT

Actually I would like to do the same as Joe.  If there are two people out there
that want to get rid of a share...can the second send me some mail.

thanks

-Jay

	Me too!  Anyone responded to these?  I've been out of office for a week,
	but have been wanting to buy a share for years now.  Let's start a 
	market!  

	Dave

    I'd like to get in on this, too.  Can we start a queue?
    
    --Jay
    

    	I haven't heard from anyone interested in selling a share.
    	It seemed like such a good idea too...
    
    	Our other option is to get enough of us together and buy
    	our own chunk (broker fees and all) and divide it among
    	ourselves.  I'll wait a bit more, but if noone shows interest
    	I'll try to organize something.  The biggest cost to it is
    	the fee to buy an odd lot.  If we all buy odd lots individually,
    	we all pay for that service.  If we buy one lot and then have
    	the transfer agent split it up, we only pay that fee once.
    
    	I would guess we'd all have to be owners of record before
    	the end of the year, so I suppose we should buy the stock
    	by Thanksgiving and have it sorted out by the end of December...

    re: .86
    
    		I would like to get in and buy some stock. How many stocks
    do we have to buy to get a good deal.
    
    
    Mike

    	RE: last few....
    
    	I've wanted to own some Disney stock for awhile.  Recently my wife
    offered to buy me a share as either a belated birthday gift or an early 
    christmas gift.  She called some discount brokers, Schaub(sp?) and
    Fidelity Investments.  
    
    	She decided to go with Fidelity.  Bought six shares (one each
    member of the family).  Cost was about $36.00 per share.  The
    commission was $38.00.  
    
    	A small price to pay to own a piece utopia.... don't you think.
    
    	So for less than a $100 call a discount broker!!!
    
    Tony
    
    

    	OK, here's what I found.
    
    	Cost for the stock is about $40/share (changes from day-to-day.)
    
    	Commission to buy one share ranges from $37.50 (best price) and up.
    
    	Some brokers I talked to said that it would still be $37.50 total
    	(and up) if we bought 10 shares or so.
    
    	To then have individual certificates drawn up for the 10 (or
    	so) of us would cost $15/person.  Each broker I asked (Schwab,
    	Quick and Reilly -- the cheapest, and Shearson) said it would
    	be $15/certificate to split it up.  So we save on the commissions,
    	but we pay to split the bunch up.  We're looking at $59 per
    	person or so if we do it together (10 people), or $78 per person 
    	on our own.
    
    	So I ask again.
    
    	Anybody out there interested in selling one of their Disney
    	shares for say $10-15 over face value?  You get a nice profit, and
    	I save on some commission costs!
    
    	If not, I'm compiling a list of people in this topic and who
    	have sent me mail, and we'll pool our funds and do it through
    	a broker...  I have 6 so far.  I'd like to get 10.  We should
    	buy the stock by 11/15 or so to be sure that all the transactions
    	are completed and the ceertificates issued by the end of the
    	year.
    
    	Joe Oppelt
    	

     <<< Note 63.89 by CSC32::J_OPPELT "Well, WE emptied our penny jar!" >>>
 <<<   We should buy the stock by 11/15 or so to be sure that all the 
 <<<   transactions are completed and the ceertificates issued by the end 
 <<<   of the year.

	Joe,

	Don't forget some time for USnail to get the checks to you if we 
	cannot get face to face delivery.  Sounds like mid-week next week,
	say about 11/11 to finalize and set price for checks.  Yes?

	Dave    	

    Count me in I would like to buy Disney's stock if you still need
    people. I go every 2 to 3 years so it would be well worth it to me.
    
    Fank Cervone
    WFOOFF::CERVONE

    	We are going through with this.  If you haven't received details
    	about it, you are not on my mailing list.  You still have a few
    	days to get involved, so send me mail.  Please don't reply here
    	because I don't get in here every day.
    
    	Joe Oppelt
    	CSC32::J_OPPELT

I am also interested.                  

Phyllis
237-5768
MPGS::TORTORELLI

    	Well, this idea has sure taken off!  We are nearing 20 people
    	ordering various amounts of stock.
    
    	I have a job, and it is not "stockbroker", so before this gets
    	too big for me to handle, I'm cutting off the "enrollment period"
    	as of 5PM Mountain Time.
    
    	If you still want to get in on this, please SEND ME MAIL before
    	5PM mountain time today.  Please send mail, don't reply here.
    	I probably won't be getting into this conference again today.
    
    	Thanks.
    
    	Joe Oppelt

  I think that there is a cheaper way than to let the stockbroker do
the certificates.  I think that this can be done for free thru the
transfer agent (the bank who acts as the transfer agent).

    	Yes, the transfer agent can do it for free, but the time involved
    	(we want to be stockholders of record before the
    	yet-to-be-announced deadline for 1993 benefits) may be prohibitive.
    	I've been in touch with the Disney Transfer Agent today.

    	(1992 shareholders had to be shareholders of record on 12/23/91.
    	The 1993 program has yet to be announced.  They will announce that
    	on 12/15/92 -- if it is to be at all this year.  We want to be
    	shareholders of record by 12/15/92 to be sure.)

    	If we purchase in one block today, the broker can (will) get the
    	certificate issued to one person.  (If the broker issues to more, 
    	he charges the $15/certificate fee.)  The single certificate arrives 
    	via US mail, and depending on the speed of turnaround at the
    	broker's office, the US mail, and the transfer agent, that may
    	wind up being too long to get it back to the transfer agent in time
    	for the final distribution.  The transfer agent needs a certificate
    	from me to have it divided up, so I have to rely on the first
    	part of the process as a matter of faith.

    	Paying the up-front $15 is an insurance payment to becoming
    	a shareholder in time.  It is a small investment resulting in
    	the security of getting in there on time.

    	Some people are paying the $15 up front and others are taking
    	their chance with the mail.  I will express mail the cert once
    	I get it to hasten the process, but we'll only know that we
    	succeeded/failed in time once it's done (for those who are not 
    	paying the $15, that is.)

    	I will be a shareholder of record either way because the initial
    	certificate gets issued in my name.  (I gotta get something out
    	of doing all this!)

    	Now, knowledge of the transfer agent procedures is enabling
    	folks who want to get one share for each member of the family
    	but who also want to guarantee making the date to get their
    	shares in one certificate (costing one $15 charge) and splitting
    	it up the rest of the way for free at their leisure.

    	BTW, the Disney Transfer Agent (They answer the phone as
    	Disney Stockholder Services) can be reached at
    
    		1-818-505-7040
    
    	To get a certificate transferred you sign the back and have 
    	your signature GUARANTEED (not just notarized) and indicate
    	on the back (or in a letter if the transfer is complicated like
    	ours will be) who will get the share(s).  You must provide
    	name(s), address(es) and SS#(s).

    	I have received mail from several people who missed out on
    	our combined purchase, so I promised them I'd post a "debriefing"
    	entry here to describe what happened so others might be able to
    	use/improve what we did.

    	I gathered 17 or so people who were interested.  I organized it
    	simply by using VAXmail folders.  I created a mailing distribution
    	list of those who expressed interest, and I added to it as others
    	straggled in, and deleted from it as some decided to opt out.
    	I kept a folder on those who were interested, one on those who sent
    	me mail indicating that their payment was made, one for mail
    	messages each person sent me about the specific info I needed
    	to transfer the stock, etc.

    	From calling Disney and listening to their recording, I found out
    	that to participate in stockholders' benefits for 1992, a person
    	had to be a stockholder of record by 12/23/91.  I assumed that
    	something similar would be in effect this year, so splitting up
    	the purchase ASAP was important.  The purchase was all done in
    	my name, and the one block would have to be divided to individual
    	shares.

    	I started calling around to various discount brokers to see how
    	they would handle what we wanted to do, and what they need from
    	us.  Discount fees ranged from $25/transaction (STOCKCROSS) to
    	$40-something.  I wanted to go with STOCKCROSS (I don't recall
    	their number -- try 1-800-555-1212) but they didn't want to do
    	one consolidated purchase and divide it up for us.  They wanted
    	to do 17 individual purchases.  If you are going to buy your 
    	share(s) on your own, this is probably the way to go.

    	We went with Quick and Reily.  They have an office right down the
    	street from where I work, and they were the next lowest in 
    	commission after STOCKCROSS.  They charged $37.50 for 28 shares.

    	All of the discount brokers will get your certificate to you for
    	free, but charge an additional $15/certificate if you want to
    	split it up as we did.  

    	When I was sure that enough people were interested, I asked for
    	money from the participants.  The shares at this time are selling
    	for around $40/share, so I asked for $45/share to cover price
    	fluctuation and the divided commission.  I would return any overage
    	afterwards.

    	If a person wanted his/her certificate right away (to beat the
    	deadline we expect will be set) then there was an additional
    	$15 fee.  So a single share on a certificate right away cost
    	$60.  Two shares on one certificate was $105.   Some have decided
    	to forego that $15 fee, and their shares have initially been
    	combined into mine.  (I get to be a shareholder of record right
    	away this way so I run no risk in this department.)  When I
    	get my certificate, I'll send it to the transfer agent to have
    	it divided up between me, my kids, and those other participants.

    	See note .97 for details on avoiding the $15 certificate fee.  If
    	we had started all this a few months sooner, we could have all
    	avoided that charge by using the method described in .97.  FUTURE
    	ATTEMPTS AT THIS, TAKE NOTE!

    	To facilitate the collection of money, I had the participants 
    	deposit checks directly to my DCU account.  As each one sent
    	me mail indicating that the transfer went, I called DCU to
    	verify it.  A person can either transfer from their account to
    	mine, or if they didn't have a DCU account they could still
    	deposit to my account.  This really made things run well!  Some
    	people (like ones in New Jersey) just don't have access to DCU.
    	They sent me checks.  The US mail was pretty good getting
    	it to me quickly.

    	Once all the money was collected, I then called the broker and
    	placed the order.  After placing the order I have 5 days to settle
    	up with the broker.  (You need an already-existing account to do
    	this.  If you have no account, you need a check in hand at the
    	time of purchase.  I opened my account a few days earlier.)  I
    	placed the order on 11/11/92 in the morning, and throughout the
    	rest of that day I collected necessary info from each participant 
    	regarding the disposition of his/her shares.

    	The info necessary to transfer stock is NAME(S) the certificate
    	will be issued to, ADDRESS of the person, and SS#.  If the
    	certificate is to be a joint certificate (husband and wife, for
    	instance) then only one SS# is necessary.  I got the last of it
    	the next day, and I delivered that to the broker with my check
    	for the purchase.  

    	The purchase went at $41/share, and the $37.50 divided up between
    	28 shares came to $1.34, so the total came to $42.34/share and
    	a $2.66/share refund is due.  That's what I am attending to now.

    	Now it's a matter of waiting for all of as to get our respective
    	certificates.

    POSTSCRIPT:

    	Disney will announce whether or not it will have stockholder
    	benefits for 1993 on 12/15/92, and if so the terms of those
    	benefits.  Hopefully this will not have all been a wasted effort.
    	Wasted, of course, only from a standpoint of getting stockholder
    	benefits.  Even if that doesn't happen, we still are stockholders
    	in a whiz-bang and fun company!

    Rumor has it that WD is considering NOT giving out Magic Kingdom Club
    membership to stockholders starting in 1993.  No decision has been
    reached, yet.

Has anyone heard anything about what the stockholder specials will be for next year?

thanks - peter

    	I am disappointed to announce that I called DISNEY, and the only
    	stockholder benefit for 1993 is a 20% discount on the Gold MKC
    	card.  ($39 vs $49 for a 2-year membership.)  The phone recording
    	also goes on to say that the Gold MKC is not significantly
    	different from the corporate MKC card you can get for free from
    	large employers (and DEC is one of those employers.)
    	

well, that won't be too helpful for staying on-site in 1993.

peter

    It's fun to buy a few shares but something to consider. "Stockwise" 
    Disney is a good solid investment. My broker was very pleased when I 
    dumped some of my IRA monies into 100s of Disney.  It's already grown 
    by $5/share since I bought is in the fall. The future growth of Disney 
    stock looks very good and is a wise investment.
    
    So for those of us who might be coming into some money in the near
    future, consider Disney as a good growth investment.
                              

    
    
    I read in Money Magazine that if you are a Disney stockholder, you are
    entitled to benefits, such as price reductions and special packages.
    
    Can any of you stockholders out there confirm/deny/give me more
    information?
    
    If you can own one share of stock and take advantage of great savings,
    sounds like this is one of the best kept secrets of the entire Disney
    phenomena.
    
    G.
    

    $35 for a two year membership (I think) with a whole lot of
    discounts on cars and the store and hotels and
    stuff. called something like the Magic Kingdom Gold card.
    To me it didn't have much more to off that I could
    use for discounts anymore then what we get from
    DEC's kingdom card.....      

    	This is the first year in some time that owning stock offers
    	no direct value for admissions, discounts, etc.  All it gets
    	you is $10 off the Magic Kingdom Club fee.  MKC is no different
    	from what you can get through Employee Relations at DEC for free.

    	I think Disney finally figured out what everyone was doing when
    buying that token share.  I recall the letter in the packet along with
    the Annual Report stated that there is now over 800K stockholders. 
    They most likely felt it would affect their bottom line too much to
    continue giving substantial discounts on their rooms.
    	Maybe if enought of the 800K stockholders wrote to them to complain
    it would change.
    
    Tony
    

    I have an extra copy of the 1992 Annual Report if anybody is
    interested.  It's 62 pages and also includes the offer for the $39.00 
    Gold Card.
    
    Since I've been a stockholder Disney as eliminated:
    
    Dividend Reinvestment
    Sending quaterly reports (unless requested)
    Stockholders discounts
    
    Next will be dividends!!
    
    Bill 

>          <<< Note 63.110 by ASABET::MORRISON "Now is the time ..." >>>
>                               -< Annual report >-
>    Next will be dividends!!

    Which dividends are those?????
    
    	:-)
    
    ROI on Disney is measured in appreciation of Fair Market Value,
    certainly not the VERY stingy dividends.
    
    Dave
    

    Actually, I think the next thing to go will be the free passes for the
    stockholders (and guests) who attend.
    
    tom

    S t o c k s  ???
    
    Does anyone know where I can purchase a Disney Stock for a baby gift?
    

    I've got 1 share that I'll sell you for say $200!! :)
    
    You can by Disney Stock from a discount broker.  They will probably
    charge you about $25 to $40 on top of the current price.  That
    can make for an expensive baby gift.  The only other suggestion is
    to buy from an individual who is willing to part with 1 or more shares.

      You may be able to buy a share through NAIC (National Association 
      of Investors Corp.) at 810-583-6242.  NAIC charges $5 - if Disney 
      is in the program.
    
      Bob

This has also been asked in note 63 (DIR/TITLE=STOCK).

			-- Nina

    This may sound like a dumb question, but I have heard that if you own
    stock in a corporation, that you are allowed one business visit to
    check out your investment, at least in Canada, as I understand it ??
    
    Has anyone heard anything on this ?? 
    
    My understanding is that if you are a shareholder, which I am, of a
    corporation, that all expenses (ie. Flight, Hotel, Meal, Admission) are
    all valid income tax write offs, because of the fact that it is an
    investment meeting. I have been meaning to call Revenue Canada on
    this, but I am afraid of getting laughed at on the other end of the
    phone. :)
    
    Regards
    Brian
    

but to invest you have to join and that costs $35...

    Is it still true that there is no 40% (or anyother %) discount for on
    site rooms at WDW as was indicated in years past notes?
    
    Caryl

    
    They stopped offering stockholders specials about 2 or 3 years ago,
    just after I became a stockholder.  It could be resurrected in the
    future if the hotels don't fill up.
    
    --Jay
    

    	I just received a "special, limited time offer" for "stockholders
    who own fewer than 100 shares of Disney Common Stock as of August 7,
    1996, may conveniently sell all of their shares or buy enough shares to 
    reach exactly 100 shares"
    
    	The fee for participating stockholders will be $2.50 per share up
    to a maximum of $40.00 per account for the sale or purchase of Disney
    Common Stock in order to defray the costs of providing this program.
    
    	This offer expires on September 11, 1996.
    
    	Up front this seems like an "ok" deal... any thoughts?
    
    Regards,
    
    Tony

    I got the same thing yesterday. I don't think it's a good deal based on 
    the price that is quoted at the bottom to buy the 96 shares I'd need to 
    get to 100. The price less the $40.00 commission comes out to about $68 
    a share.  In the paper (this past Sunday's I think) Disney stock was at 
    about $58 per share.  Unless a broker charges $10 per share to buy
    stock (which maybe they do, but I doubt it) it's not worth it to me. 
    
    Carolyn

    
    Owning Diosney stock may not be as attractive as it used to be.  But,
    here is the current benifits:
    
    SHAREHOLDER PRIVILEGES
    
    -  Shareholders receive 20% discount when joining the Walt Disney Club 
    -  Colorful annual report, also collectible 
    -  Quarterly Dividend 
    
    
     CERTIFICATE FEATURES
    
         The Walt Disney stock certificate is one of the most colorful
         stock certificates ever created
         in the history of the New York Stock Exchange. 
         The certificate features a vignette of their Founding Father, Walt
         Disney, surrounded by
         some of his most famous animated characters. 
         This certificate is sought after as a collector's item, and will
         make the ultimate gift or
         acquisition for any Disney lover. 
         With the recent Capital Cities / ABC merger proposal estimated to
         close late summer
         1996, it is very likely that a new Disney stock certificate will
         be issued. This might be your
         last chance to own this colorful certificate. Don't delay! 
    
    
    
    you can go to a web site: http://www.oneshare.com/index.html
    	or		http://stock4art.com/disney.htm
    to see a copy of the share [it IS colorfull]  and be able to order
    one share.  they even frame the stock.
    
    I don't have any interest in oneshare company, I'm just passing on the
    information as it sounded interesting to me.
    
    ed

    thanks for the pointer ed!  i think i just figured out what to get my
    fiance for a wedding present!!!  %^>
    
    -raquel