Let's start with this. In my opinion, the second most famous memo in the history of the Disney

Company is the one that Waltz and his brother Roy just before his birthday in 1961. For a while,

the brothers had been on the outs, not even speaking to each other, as the two disagreed over how

they should handle the rather sizable

holdings that Walt himself had accumulated through the 1950s. Because Walt Disney Productions

hadn't been particularly interested in moving into the outdoor amusements business,

Walt had partially developed those companies on his own.

Those companies included wed, which Walt wholly owned, and Disneyland Incorporated, which Walt

partially owned. But now, as Walt Disney Productions was exploring a possible theme park

development in Florida.

At this time, in the early 1960s, it was to be in Palm Beach Gardens, not yet Kissami.

Roy was insistent that the majority of Walt's personal holdings be brought under the umbrella of Walt Disney Productions.

Otherwise, Roy feared stockholders would revolt as a new park created by Walt Disney Productions

would create a very large cash stream that went directly to Walt through his wed design firm.

This, Roy believed, would appear to stockholders as a sweetheart deal that created a significant

conflict of interest between Walt Disney's private company, Wed, and the publicly traded

company Walt Disney Productions that he also oversaw, even if those private holdings were technically

protected through contracts. In the late 1950s, WED had employed a few dozen artists, engineers,

and architects. But now as Walt's private company ramped up to create pavilion attractions

for the New York World's Fair, it was quickly growing in size, ramped up to create pavilion attractions for the New York World's Fair, it was quickly

growing in size, ramping up to employ a couple hundred people, and it was now housed in a complex

a few miles from the studio over in Glendale. Over these issues, specifically those focused on

...