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Denouncing some Disney movies as “garbage,” the state’s Board of Education is expected to vote Thursday and Friday to dump the 406,000 shares the Texas public schools system owns in Walt Disney Co. stock.
At the market’s close Wednesday, the shares were valued at $43 million.
Despite analysts’ predictions that earnings per share will continue to grow 18 percent annually in the next three to five years, board Chairman Jack Christie, a Houston Republican, said he think it’s time to sell. He thinks he has the votes to require fund managers to sell the stock.
“I think,” he said, “as the public sees that type of garbage, (the stock) will lose some of its luster.”
As an example, he cited “Pulp Fiction,” the 1994 Oscar-winning black comedy.
