From MYDD I learn the reason. Taxes....
Instead of the standard 35% tax rate I thought all big companies paid, Disney actually paid the following:
2001 - 27%
2002 - 7.5%
2003 - 3.4%
And if you think that is bad...check this out from 2001 to 2003.
Pepco Holdings (–59.6% )
Prudential Financial (-46.2%)
ITT Industries (–22.3%)
I wonder how long it will take to pay off our deficit when we are giving money to the biggest money makers.