EISNER GETS AN EARFUL -- BUT WALKS AWAY A RICHER MAN

          Walt Disney Co. shareholders approved a "lucrative
     bonus package" for CEO Michael Eisner yesterday, "but not
     before stockholder protests made the company's normally
     upbeat annual meeting seem like the grumpiest place on
     earth," according to Paul Farhi of the WASHINGTON POST.  A
     "steady parade of shareholders" stood up to "berate Eisner
     and Disney's board for Eisner's new 10-year employment
     contract."  Estimates vary as to the value of the deal, but
     Eisner defended the package, saying "That's the American
     system for rewarding performance" (WASHINGTON POST, 2/26). 
     Eisner called the hiring of former President Michael Ovitz,
     "Not good.  A mistake. Won't happen again" (Jeffrey Daniels,
     HOLLYWOOD REPORTER, 2/26).  In L.A., James Bates notes that
     during the meeting, "only passing reference was made to
     Disney's biggest problem with its $19 billion acquisition of
     ABC," and "instead the emphasis was on the success" of ESPN
     (L.A. TIMES, 2/26).