Postcards
Power Point: Keep adapting
February 3, 2009: 6:43 PM ET"Competition for people's time is increasing and the abundance of choice is allowing consumers to be more selective."
-- Walt Disney (DIS) CEO Bob Iger, announcing a 32% quarterly earnings decline that dragged Disney's stock down 7% to $19.15 in after-hours trading.
Iger's point is that Disney's problems extend beyond the recession. "In essence, we don't believe the changes we are seeing in consumer behavior can all be attributed to a weak economy, and we feel it is important for us to address them as more than just cyclical issue," Iger told investors, pointing to potentially long-term challenges in broadcast TV and the DVD business. It all adds up to more pressure on a CEO who, thus far, has proven his doubters wrong and rebuilt Disney into the most valuable media giant. For more, read my Fortune colleague Richard Siklos' recent "Bob Iger rocks Disney." -- Jessica Shambora
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Fortune senior editor at large Pattie Sellers has written some of Fortune's most talked-about cover stories, including "Marissa Mayer: Ready to Rumble at Yahoo," "Oprah's Next Act," "Can Meg Whitman Save California?" "The $100 Billion Woman" (Melinda Gates), and "Remodeling Martha" (Martha Stewart). She has helped oversee Fortune's "Most Powerful Women in Business" package every year since its launch in 1998. Pattie is Executive Director of the Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business and beyond. She oversees MPW programs that enable women leaders to extend their influence and empower the next generation—such as Fortune MPW Entrepreneurs and the Fortune-U.S. State Department Global Women Leaders Mentoring Partnership. Beyond her Fortune duties, she is also developing Live Content across Time Inc. Pattie grew up in Allentown, PA, graduated from the University of Virginia, and started at Fortune in 1984. Her blog, Postcards, is about how power players lead, manage others, and navigate their careers.
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