General Disney Company Discussion Thread

[tucsoncoyote]

Alright folks It's Friday and this time we shift gears as yet anotehr Lawsuit piles up against Disney (Disney and Lawsuits.. they go together Like Cheese and Crackers..)

This time of all people, It's Marvel Comics.. That's right Marvel..

Seems someone's not been paying their Royalties to a certain comic book company.. and the folks at Marvel Comics are not PLEASED... So how much is the total Amount? well it's small about the same price Eisner Paid to accquire Jim Henson's Muppets (16 Million)

Now for a Financially SOUND business of more then a Billion Dollars, this would be roughly chump change.. but as of Late as we all know, Disney's been lacking the cash, due to the afforementioned bombs, and flops at the box office, the Lackluster attendance at the theme parks, and the lack of animation...

so when you think about it Disney owes 3 different groups roughtly 70 million bucks..(this includes the 16 Million owed to Marvel..) I mean you got the Slessingers who's "Pooh Case" is still ongoing.. where Disney itself owes somewhere on the order of 50 Million plus the 5 Million for the Author of Who Framed Roger Rabbit, plus now the 16 Million now owed marvel...

To me this seems like three small speeding tickets in Disney's Drive along Lackluster lane.. yet why don't they just pay the lawsuits and just walk out of there poorer but wiser?

if you want to find out more about these stories..you can either Look right here on Toonzone, or Here on Yahoo Finance/Reuters.

Comments? Questions? feedback?

the evil one!

[Paul_Cousins]

Originally Posted by tucsoncoyote

To me this seems like three small speeding tickets in Disney's Drive along Lackluster lane.. yet why don't they just pay the lawsuits and just walk out of there poorer but wiser?

But let us remember, if you get enough speeding tickets you will lose your license to drive.

[shogunthethird]

five bucks says Eisner's going to attack Marvel's offices wearing a Mickey halloween costume and throwing mouse ear-shaped bombs, perhaps riding a flying apparatus of some sort

[loyalheart]

well disney knows if they dont pay and loose the rights, fans will complain, however, i do want to know was/is disney aware of the fees they had to pay when buying saban? or did they, like i assume, just want it really bad for PR, digimon and the channel.

[tucsoncoyote]

Originally Posted by loyalheart

well disney knows if they dont pay and loose the rights, fans will complain, however, i do want to know was/is disney aware of the fees they had to pay when buying saban? or did they, like i assume, just want it really bad for PR, digimon and the channel.

Actually Loyalheart... there is a rather interesting story I might point out here.. and it might surprise every one..

Michael Eisner Doesn't know how to Have a "Poker Face".... and in fact the REAL Story on why Eisner can't Play poker is found right here.. but for those who don't want to Bother wanting to click on the link.. well I'll tell you a story.

Back in 2001, Fox Television's Rupert Murdoc and Haim Saban (of Saban Entertainment who used to Have control of Saban Entertainment..) were looking for a buyer to take over one Fox Family that they had accquired a few years earlier..

Well Granted No one was looking except one guy at this offer.. a Sucker if you will. and it's funny cause this is the same guy who has suckered us all since.

One Michael Eisner..

now for the juicy parts... and this is right out of that afforementioned article .

The year was 2001, and Eisner was under pressure to bulk up Disney, much as his competitors had done through mergers and acquisitions. America Online was now the owner of Time Warner. Media giant Viacom had gobbled up CBS, along with some cable channels.

Everyone but Disney, it seemed, was in the hunt.

"Acquisitions are a tricky business," Eisner had cautioned shareholders a year earlier. "Companies often pay too much for other companies … because they are afraid to let cash burn a hole in their pockets."

But Eisner thought he finally had found a plum, and he was determined to snatch it at the luxurious Sun Valley confab. The private gathering, hosted each July by investment banker Herb Allen, brings together the world's most influential media leaders for recreation, speeches and deals. It was there, six years earlier, that Eisner had earned wide acclaim with his surprise purchase of Capital Cities/ABC.

This time, the story would be different.

Eisner left the mountain summit with an ailing cable channel called Fox Family, along with some foreign assets (Namely Haim Saban's) , for which he agreed to pay $5.3 billion. The negotiations lasted less than an hour. One of the beneficiaries, News Corp. Chairman Rupert Murdoch, would later kick himself. He told associates that Eisner was so eager he might have paid a billion dollars more.

(That in itself was very true.. but Haim Saban became a Billionaire Overnight)..

to cut to the chase,

Eisner and other Disney executives today concede that they overpaid. But they say the obstacles to success had more to do with the shifting economics of television than with any failures of management.

"There won't be many opportunities like this one," then-board member Andrea Van de Kamp quoted the chief executive and his management team as saying. The directors gave their unanimous consent.

Wall Street was not so trusting. Disney's revenue projections were dismissed as unrealistic. The company's credit rating was downgraded.

I like to compare this to something that a certain Circus Entrepeneur once said, by the name of PT Barnum... There's a Sucker born every minute..

and if you look at this, this is perhaps one of Mr. Eisner's Biggest Blunders.. (who in their Right mind would pay for a STRUGGLING cable channel well over 5 BILLION (With a "B") Dollars??? I know Bill Gates wouldn't nor would Steve Jobs.. but Mr. Eisner was that Sucker.. and he got reeled in, and got landed like a big mouth bass... hook, Line, and sinker..

Let's fact True facts here.. Disney owns Saban items, including Digimon, Power Rangers, and of course Beyblade. They don't have to pay a single Cent to Haim Saban.. After all Eisner Paid him (Haim Saban) already to the tune of well over a billion dollars...and now that he has.. Do you think Eisner has the cash to pay just as something as a 16 Million dollar Settlement to Marvel Comics? Would he even consider doing so?

Considering that that Around the world in 80 Days made a little under 23 Million? would he even bother?

But as for Eisner.. He indeed got suckered.. and yet while he points fingers at everyone else.. he forgot his own rule here..and let's go back to the quote..

Originally Posted by Michael Eisner

"Acquisitions are a tricky business," Eisner had cautioned shareholders a year earlier (in 2000). "Companies often pay too much for other companies … because they are afraid to let cash burn a hole in their pockets."

seems someone had too much money to burn.. and they let it burn more then a hole in their pockes.. It literally burned off his pants and boxers brief as well.

and really that's all I'm going to say about this.. Let the chips fall where they may.. after all it's just a matter of time...

[tucsoncoyote]

Originally Posted by Paul_Cousins

But let us remember, if you get enough speeding tickets you will lose your license to drive.

That's true..also if you get into an accident (or two or three) then you will as well lose your license...

and this comes back to the movies that Disney has cranked out as of late..

I mean there was a REALLY good article that came out just 2 days ago, over at www.savedisney.com, which shows how 2003 and 2004 films have fared..

and the similarities here Paul, are like night and day..

Last year (2003) it only took 4 Movies (Finding Nemo, Pirates of the Caribbean, Bringing down the House ( by Miramax) and Freaky Friday) to net the company 1.7 Billion dollars worldwide (with almost half of that being domenstic...)

then you look at the 9 films that have been tracked (by www.boxofficemojo.com, ) and you see that this year has hardly been like last..

I mean domestically the 9 films, Hidalgo, Kill Bill Vol. 2 (By Miramax), Miracle, Home on the Range, The Lady Killers, and The Alamo, ( Both by Touchstone), Raising Helen, Around the World in 80 Days, and the Newly released King Arthur, have netted the company rougly Half a Billion dollars (570.1 Million to be exact.) and that in itself says a lot.. After all, How can a company go from making 1.7 billion to just 601 Million in just 366 days?

and what about Production and Advertising Costs?

Lets take a Look at the same 9 movies shall we? (and this is of course the total cost (Production AND advertising...)

Hidalgo.............................125 Million
Kill Bill Vol 2........................60 Million
The Ladykillers....................60 Million
The Alamo........................137 Million
Around the Wold in 80 Days.140 Million
King Arthur.......................160 Million
Home on the Range............100 Million (Est)*
Miracle..............................60 Million (Est)*
Raising Helen .....................60 Million (Est)*
Total ..............................902 Million (Est)*

*Now I said on these Last Three they were Estimated as Box Office Mojo doesn't have the exact figures.. but even when you remove those last 3 moives it still comes out to 682 Million Dolalrs for Production costs.. yet the films have netted between all 9 just 601 Million Worldwide? so even with all the expenditures, that's still well over 81 million dollars lost..

After all it doesn't take a rocket scientist to figure this one out..

and besides, we still have 3 more movies (Princess Diaries 2: Royal Engagement, Mr. 3000, and Ladder 47, (the last two by Touchstone) coming out between Now and the end of September..

My question I pose is this....

How many of the remaining 3 films could end up giving Disney a Hit? Well it's not been since last year since Any movie has Grossed over 100 Million at Disney and even though Princess Diaries 2 could be the front Runner, you have to remember 2 things..

1. The release is in early August, when movies are at then lowest in terms of attendance, and
2. The Week Prvious to this is Universal's Thunderbirds. (Now which would someone go see? A Drama/Romance? Or an Action Adventure Film?)

Now taking that into account, the chances of a 100 Million dollar run here is slim to none for Princess Diaries 2 and the other two movies (Mr. 3000, and Ladder 47) could make a Marginal Dent in the box office take. So at the best, Disney could just "Break Even" this year and have no profit to show for this.

which then comes back to what the CFO of Disney Boasted back in May.. that Disney is going to make a 30% profit.. (now if Disney IS going to try and get that 30% profit.. It's definitely not going to be here..)

Comments? Questions? feel free to talk back.

[shogunthethird]

30% gain and they haven't even broken even yet? geez, who'd he get as CFO, Hercule Satan?

[tucsoncoyote]

Originally Posted by shogunthethird

30% gain and they haven't even broken even yet? geez, who'd he get as CFO, Hercule Satan?

Actually Shogun, they Boasted that they would Get a 30% increase in profits from somewhere, but it's definitely not going to be in the Movie sector (if they are going to be lucky they could just get 0% (Break Even) after all in order for The Walt Disney Company to just Break Even, you have to generate a box office Take of 150% of the total Expenditure costs (after all you know the Money doesn't go Directly to Disney you know.. For Every $1.50 spend by the consumer at the Box Office, Disney is only going to get a dime (10 Cents!) the rest of it goes to the Theaters (for Maintenance and Upkeep) for Popcorn and refereshment sales, (even the candy!) and even for Distribution and Advertising Costs..(Granted if Disney Distributed a film (Like Finding Nemo )that they still would get 20 cents for that $1.50 but still when you think of it.. a Film has to make 150% of it's total Advertising and Production Costs Just to Break Even (and that's allowing for the increases in inflation..

so Let's go back to those 9 Films for a Moment or at least to 6 of them (remember the other 3 were Estimates here..)

and let's see how much those films WOULD have had to make...
(Shall we?)

Film Name ................,.... Expenditures........ Revenues to "Break Even"
Hidalgo............................125 Million.................187.5 Million
Kill Bill Vol 2........................60 Million..................90.0 Million
The Ladykillers....................60 Million..................90.0 Million
The Alamo........................137 Million.................205.5 Million
Around the Wold in 80 Days.140 Million.................210.0 Million
King Arthur.......................160 Million.................240.0 Million


Now the real trick is that you need to generate that cash in a hurry since shows come and go.. A good rule of Thumb is 30 Days (1 Calendar month..)

SO like for Example Shrek 2, which cost Dreamworks 120 Million just needed to make 180 Million (in 30 Days) "Just to break even" in that 30 Days Shrek 2 topped 364 MIllion.. (so that's easily a Hit (If a Film Makes 200% or More in that same time period.. it's a Hit.. Anything less then 150% and it's a Flop)

Now then when you compare the numbers here that are supposed to be, with the ACTUAL numbers you can see that each and every one of these Disney Films FIlms is a FLOP! in fact Around the World in 80 Days in just 30 Days totalled 23 Million.. (it was supposed to make 210 (it only grossed 10% of it's revenue back.) The Alamo netted only 20 Million in that 30 days.. and that was just 10% as well. Well you can figure out the rest..

nuff said.

[JDWeil]

And now there's more to come...




Is there no end to this?

[tucsoncoyote]

Originally Posted by JDWeil

And now there's more to come...




Is there no end to this?

Apprently not JD (BTW, I knew about this when the story broke on Friday July 16th), but Frankly what intrigues me is whether or not Disney Plans to do things for the fans of animation anymore..

I've heard and Seen about the new show Brandy and Mr. Whiskers, and the best Analogy I could give to this show is a "Very watered down version of "Ren and Stimpy" for Kids..

(Excuse me, but why is disney trying something that is over 10 years old? (After all Ren and Stimpy (For Kids, and Not the APC) was designed way back in 1992... and that's saying a lot here..

But as for the Marvel idea.. this goes back to 2001, where Disney accquired the then ailing Fox Family Channel, and Marvel had a Contract with them.. when Fox Family was sold off (in what I call "Eisner's Brightest Poker face move where he didn't have a poker face.") to Disney, they picked up those items on the same contractual agreement that Fox originally had..

so guess who got holding the tab? Yep you guessed it.. The Walt Disney Company.. and this of course JD proves to show you never go in and do anything without thinking first.. (oh wait, Eisner didn't think THAT one out now did he?

[tucsoncoyote]

Rainy Days and Mondays always get me down is the way the song goes..

and for Mr. Eisner.. we hope it's raining alright.. cause in fact I just found an article in Yahoo Finance, that is starting to make this sound Like Mr. Eisner should have reconsidered that vote of No Confidence from March..

Apparently according to the article, Thanks so far to the Lackluster Movie Issues this year (and that was the LAST item Mr. Eisner was banking on back in March..) Eisner could Psychologically be on the ropes.. and hopefully someone or something will cause him to have someone knock his block off. (Psychologically speaking..

Shareholders aren't happy, nor are the fans of Popular TV shows.. and in fact Movies are on the skids.. and The Theme Parks? Don't ask...

Let's just say that this could indeed be Mr. Eisner's Swan song.. and he should have taken the advice from Jim Hill of jimhillmedia.com,

Get out while you still can...

Frankly I think a number of us could see this one coming.. and in fact I'm just waiting for the dust to settle so that maybe some of us could really start to analyze what went wrong, and how we as consumers and fans could change Disney's outcome from being the saddest Place on Earth.. to one of The Happiest Places on earth once again.. but it'll take a lot of work.

Also perhaps the one thing that has really put pressure lately on Mr. Eisner has been what JD and I hinted at Last week, Namely that of Marvel Suing Disney for Royalties.

Today at Motley fool.com they explain how badly Eisner has become entangle in the Web of Marvel, and in fact it's a rather interesting story..

that a Wall Crawling superhero, could in fact bring down the house of Mouse, so easily..(Perhaps Spidey is about to Deliver the Knockout blow..)

so let's stay tooned shalle we?

Comments? Questions? Feedback?

[shogunthethird]

just what I need: that joke about Mikey becoming a green goblin knockoff to prove prophetic

[ToOn~g@l]

so how badly are the themeparks doing this year. is it really bad or just so so?

[tucsoncoyote]

Originally Posted by Eisnersenemy

so how badly are the themeparks doing this year. is it really bad or just so so?

Actually Eisnerenemy the theme parks this year have been lackluster as welll

Here's an example of what I mean..

During any Weekend (Saturday-Sunday) at Disneyland during June, Disneyland (and Not California Adventures) alone supposedly draws in anywhere from 40-45,000 people during the weekend days (Both days) yet this year during the third week of June, on that same time fram (Saturday-sunday) the park only had 39,000 total.. and that's for both days..)

and it was worse over the 4th of July weekend..

Eisner had predicted 72,000 at both DCA (California Adventures) and Disney land) for the 3 Day Independence day totals and yet by the time the weekend was out.. only 50,000 people total had hit Disneyland and about 45,000 at DCA... WDW was perhaps the exception to the rule but it was barley 10% above Normal Attendance for the Time period..

so in all what do you think? was this a Lackluster summer? Or is the Company definitely in a Slump?

[ToOn~g@l]

Originally Posted by tucsoncoyote

so in all what do you think? was this a Lackluster summer? Or is the Company definitely in a Slump?

I think it is both. If you think about it, not many people want to go any where because of gas prices and other family problems, meaning they don't want to pay for those outlandish prices you find at disney world gift shops or the food places. Also a lot of people probably just don't want to support Eisner so they stay away from all that stuff. That could also be why not many people are seeing disney's summer movies either.

What does everyone else think?

[tucsoncoyote]

Originally Posted by Eisnersenemy

I think it is both. If you think about it, not many people want to go any where because of gas prices and other family problems, meaning they don't want to pay for those outlandish prices you find at disney world gift shops or the food places. Also a lot of people probably just don't want to support Eisner so they stay away from all that stuff. That could also be why not many people are seeing disney's summer movies either.

Originally Posted by Eisnersenemy

What does everyone else think?

Well Eisnerenemy here is my spin on it.. and in fact it's funny that you mention this. especially about the gas prices.. Cause I'm going to point out two or three of my writings I wrote back in March and April (March 24th,2004), and (April 19th, 2004.), and you might be surprised what I quoted..and these were from the Comcast VS Disney Thread some three to four months back and you can find them still here but here comes the proof of what I said

Post # 303 in that thread:

Originally Posted by tucsoncoyote

After Reading tht article I wouldn't be surprised that Ron Stoppable, and Gill Moss Bunked with Eisner.. Frankly I saw something on CNBC Some 2 nights ago that might be the start of the end of the Eisner Era.. Seems the Shareholders could be Demanding (that's right Demanding!) the Resignation of Eisner, and a Major Policy Change at Disney (I didn't catch the entire statement on the Ticker, but at least it was fun to watch..) but apparently our Boy Scout Mr. Eisner is Really out of the loop here and frankly it's not surprising that He's Been out of it for 10 + Years..

anyway Let's Hope that this doesn't Drag into summer (I have a Feeling this summer with the Gas Crunch On and people watching a Tight Eye on their Budgets, Disneyland will lose some attendance as well as WDW.. but let's see what happens shall we?

and then there are these two posts on the 19th of April (a little over 3 months ago..and here again I reinterate the fact again

Post# 411

Originally Posted by tucsoncoyote

Actually Silverknight, I'm a Big Twilight Zone Fan as well, and if this is based off a Twilight Zone Episode, it must be one of the New ones (since I'm more part of the original Rod Serling Crowd (Btw, my Favorite Episode of the Old Twilight Zone was A Game of Pool... Starring Jack Klugman and Johnathan Winters (both in Very Serious Roles Might I add!)

Now as for the Fun Part and Trying it out, Is anyone willing to spend to Drive 400+ Miles From Tucson, Arizona To Anaheim, California, (at Today's Gas Prices of Around 2 Dollars a Gallion, (The Price of Admission would be Paid Just for Driving there! (and then on Top of it, plunking down another 49.75, Standing for 3 Hours (Or More) in a Line, and then gettting on the Ride for a Ride that may last all of what, 2 to 5 Minutes?

So I've Blown almost 100 Bucks paying just to get to the Ride, Stood 3 hours in Line, eating Disneyland food, and then get 2 -5 Minutes of Fun? (Ummm is this starting to sink in here?) Plus don't forget (Non-Disneyland) Food, and Lodging as well, if you're coming in from out of state! That'll add up a Healthy dose of cash taken out of your vacation fund!

and I further went on to add in that same post what a sensible family would do if they did take a Trip anywhere it would be close by and not somewhere fun as the magic Kingdom.

So what was the difference this year so far that made the difference? well a number of Factors that made Eisner make some bad choices.

First off the Discounted Tickes (or what I like to Call "Buy 5 days at Disneyland for the price of 2") I had a feeling that Eisner made a Majorly bad call on this one..

Second off The Gas Prices (True to form).

and finally that Price Increase of just $2.75.. that the key factor here. (Sure enough the People could spned their cash a bit more Wisely when it came to things like vacations..)

so my spin was always seeing ahead, and in fact unless things change and Eisner will change his ways..(not likely) then the more things will remain the same.. after all it's a given that we know where he's headed.

But it's funny when you look back over that 3 to 4 month period. and in fact now you know, that maybe a little thoughtful thinking and a bit of Creativity is in order here.. and I know some folks who have very creative thoughts.. and they're the ones who comment on this subject.. After all I have a feeling if we got in and Ran The Walt Disney Company, we probably would make a lot of people happier, don't you think?

[tucsoncoyote]

it's Midweek again and this time yet again Disney is in the News. and this time it's deja vu all over again with a half twist.

Remember back in February when Comcast threatened to take over Disney with a Hostile Takeover bid, Remember when Disney said no and left Comcast Sitting at the door? and remember that Comcast wanted Disney so bad they could taste it?

well Comcast now figures if they can't get the whole Pie, they will take it one slice at a time.

Today in the News, it seems, that Comcast, Disney and Disney's Internet Group (WDIG), have finally come to terms with themselves, and have signed of all things, a contract. dealing with High Speed Internet and in fact it gives Comcast their OWN disney channel.

Like I saying, if you can't swallow the whole thing. take it bite by bite, and you can see where this is heading.. sooner or later Comcast still will get Disney. and Eisner Still will be out of a job..

What do you think? Comments? Feedback?

[shogunthethird]

downright Machiavellian plan Comcast has there, slowly amass power, control things from the shadows and then edge out the old guard when no one notices, not so much siezing power but changing it from within....at least if I had the finances and power that's how I'd do it

[CookieS]

Tell Disney Pictures what you think in this survey.

[tucsoncoyote]

Alright it's the weekend and I feel like it's time to talk turnkey about this..

I've been snooping around and decided to bring up This article that involves what I like to call "The Menudo Syndrome.."

Now I know what you are going to say.. Tuc, what is "The Menudo Syndrome?"

Well a good analogy I can give is this.. especially to anyone who watches the Cartoon Network show Codename: Kids Next Door.

In Codename: KND, the operatives are kids that are under the age of 13, and they are out there fighting the grownups and Teens of the world. and in essence it's a good thing for them, that is until they turn 13, then by happenstance they get decommissioned, removed, eliminated.

Now what does this have to do with what I call "The Menudo Syndrome?" It's easy and this part goes back to about 20 years ago..

Back then in the mid 1980's, there was a Mexican rock group that was very popular with Teens, called "Menudo" Which means Soup in spanish, and they had five male singers but with all of them there was a catch.. Their Agent/Manager woul only allow them to work until they were 15... then just like KND. well they too were retired, and replaced with newer fresher faces..
That is until the group ran out of talent.. then they just curled up and blew away like dust in the wind.


(still not getting the connection yet? Well now you will!)

Now it's 2004, and it's The Walt Disney Corporation's turn.. and believe me "The Menudo Syndrome" has hit them full bore as well. and this time it's anyone over the age of 18, or anyone who puts up a stink, that gets the boot.

Need I remind folks of Hilary Duff.

Of course the Next Victim is on the list, and here's yet another talent that is probably going to be let gone once her runs on both Broadway and TV are complete.. Namely Chirsti Carlson Romano..

Still think I'm Kidding? Who is hot right Now.. Raven Simone (or Just) Raven, well Raven is of course 15 or 16, and you can figure she's the next to go, followed by people like Taj Maury, and his sisters, Tia and Tamara, Kyla Pratt, and yes, Ricky Ullman..

now think about it.. Where's Shia Labeouf ? (no this isn't a game of Where's Waldo now I'm asking, but Where is he REALLY now?) Has anyone heard where he's at? No? Yes? Anyone? Last time I saw him, he had just finished up the Movie Holes for Disney, since then, he's just vanished.. gone...

and what about Lalaine (From Lizzie McGuire) Where's she now? No idea there either.

but the point I am making is this comes back to what I started with, Namely "The Menudo Syndrome" and Disney is throwing away actors and acresses that are young, vibrant, and have a Lot of talent here. in fact remember Hilary Duff? Where is she now? Well after The WB Movie, Cheaper by the Dozen, she is currently in A Cinderella Story (which I might add is a WB Flick, not a Disney one, which is doing quite well at the box office I might add.) and in fact for her showing she's doing quite well.

In fact the only names that really have come out of Disney who have succeeded later in their careers other then Hilary Duff is Brittany Spears (from The New Mickey Mouse Club.), and we all know what is going on with her..

Let's face facts... Disney is tossing aside actors and actresses as fast as they are cranking out movie flops. and at this rate, does anyone really think Disney will survive? I think not.

Frankly it's sad to see so much talent tossed by the wayside like they're garbage. they're not.. these are really talented people. they can sing and dance and have lots of potential. yet Disney treats them like old newspapers.

I really wonder what will happen to Christi, to Raven, to Kristen Storms, and the others, I just hope that the shareholders realize what a mistake they made giving Eisner 'one more chance'.. cause frankly why do the talented young folks have to suffer? That's really my question here.. and it's probably something I can't answer.. but I would like to hear about comment about this.

After all just like the assembly line TV shows and the Movie bombs, this syndrome also has to stop. else Disney will run out of talent 2008 or 2010 at the earliest.

I value my Opinion, I welcome yours.