Can Disney Do No Wrong?

While few may be willing to admit it, even when Disney (NYSE: DIS  ) stumbles these days it seems to bounce back even stronger. Let's consider a few of Disney's tricks in October that wound up as treats.

When some sponsors pulled out of Disney's top-rated, racy Desperate Housewives show on ABC, some saw it as a sign that the Mickey Mouse company was back to fending off boycotts and angry family groups. Not exactly. Losing advertisers that were paying discounted rates in the upfront market is actually a blessing for ABC. Now it can fill those spots with marketers willing to pay even more for the large audiences that the show is attracting.

When Disney officially unloaded its 313-store Disney Store chain through a licensing agreement with Children's Place (Nasdaq: PLCE  ) , many saw it as a sign of failure. Sure, but it was also a way for the company to transform a division that was still posting losses as of its June quarter into an opportunity to let an experienced specialty retailer turn it around, with Disney collecting passive royalties.

You can go back even further, and some of Disney's biggest mistakes are starting to smell like roses. When it loaded up its ABC schedule with sitcoms to help fill the void left behind by Who Wants to Be a Millionaire?, it flopped, but that paved the way for hour-long hits like Desperate Housewives and Lost.

From CEO Michael Eisner's pending retirement silencing some critics until his replacement is named to the NHL lockout coming just as Disney skirted past a costly contract, just about every cloud that once appeared full of heavy rain seems to have a silver lining.

Disney is now finding gold coins lining the pockets of its ponchos.

Is Disney really doing well right now, or is it just a matter of time before things fall apart? Have you ever worn a Disney poncho? All this and more -- in the Disney discussion board. Only on Fool.com.

Longtime Fool contributor Rick Munarriz has been to all six of Disney's domestic theme parks this year, but he's never been caught overpaying for a churro. He owns shares in Disney.