8/4/23: Exclusive Interview with Disney Heiress Abigail Disney On Hollywood Strikes, Labor Congressman Screams At Teens In Capitol, Malls Death Spiral In Value,
Disney heiress Abigail Disney joins Krystal and Saagar to discuss the Hollywood strikes, labor rights, and the legacy of Disney. They also cover a Congressman's inappropriate behavior towards Senate pages, the decline of malls and the impact of online shopping, and reflections on privilege and inequity. They talk about the role of publicly shaming hypocritical wealthy individuals and the need for a mindset shift among the wealthy.
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Quick takeaways
Congressman faces censure for yelling at Senate pages in the Capitol, raising concerns about his conduct and speculations of intoxication.
Malls nationwide experiencing significant decline in value due to closures, foreclosures, loan repayments, and the impact of COVID-19.
Deep dives
Congressman Van Orden rebuked for yelling at Senate pages
Congressman Van Orden, a former US Navy SEAL from Wisconsin, faced backlash after yelling at high school age Senate pages for taking pictures in the Capitol Rotunda. He reportedly called them derogatory names and demanded that they leave. The incident has drawn condemnation from both McConnell and Schumer, leading to Van Orden's official censure by the Senate. There are also speculations about Van Orden being drunk during the incident.
Plummeting value of local malls
Local malls are experiencing a significant decline in value as commercial real estate. Lower-end malls are reportedly worth 50% to 70% less than their peak values in late 2016. Some malls have even been sold at foreclosure auctions, with one experiencing a drop in value from $153 million to just $9.5 million. The situation is exacerbated by upcoming loan repayments totaling over $14 billion, while mortgage rates are increasing, making refinancing more difficult. Department store closures in malls have also contributed to the decline, especially due to the impact of COVID-19.
Abigail Disney on wealth, privilege, and societal imbalances
Abigail Disney, granddaughter of Disney co-founder Roy Disney, reflects on her realization of being born into privilege and the responsibility it entails. She criticizes the growing wealth gap and the treatment of workers, particularly in the case of Bob Iger, former Disney CEO. Disney emphasizes the need for a fairer version of capitalism by undoing policies that have perpetuated inequality and prioritizing investments in education and healthcare. She also discusses the role of publicly shaming wealthy individuals who showcase hypocrisy in their values and actions.
Krystal and Saagar discuss a Congressman screaming at teen Pages inside the Capitol, Malls across the nation enter a death spiral in value, and we're joined by Disney heiress Abigail Disney to talk about the Hollywood strikes and her views on labor, capitol, and the legacy of Disney.