And Disney takes another blow on the chin, this time from South Carolina.
According to Moneywise, South Carolina State Treasurer Curtis Loftis has divested the state’s money from Disney over the corporation not doing its fiduciary responsibility. Loftis blamed a “structural rot” within the company that he doesn’t see it getting away from:
“I think it’s clear to anybody paying attention that there’s a structural rot inside of Disney. It’s deep, it’s pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it can’t be fixed,” he told Fox Business Digital, adding that it “does not bode well” for the future of the company.
The amount of money South Carolina is pulling out of Disney isn’t small either:
Fox Business Digital reported that the portfolio of the State Treasurer’s Office included $105 million in Disney debt securities, which will not be…
