This has followed unsuccessful talks with Pixar, unsuccessful talks with the Henson Company to acquire the Muppets, trouble with most of their divisions like the ABC Network and feature animation (though animation has been gaining some ground recently with "Lilo and Stitch" and now "Brother Bear".)
Interestingly enough, word was that Eisner was prepared to leave Disney in September of 2004 (capping a 20 year career at the company) because -- well -- they were going to push him out otherwise. Because of, well, all of the failures I enumerated above and more, and the growing impression that Eisner is less concerned with nurturing the company, but rather enriching his own pockets. That he is less concerned that the company has on his watch turned into a "rapacious, soul-less" entity, which is "always looking for the 'quick buck'" and thus losing the public trust, as I quote Roy Disney.
Eisner's stock wasn't high among the the people he employed. Finding an encouraging word about Eisner in animation boards is about as difficult as finding a promotion for "The Iron Giant" back before its release in 1999. If you need visual illustration, "Son of Faster, Cheaper" by longtimer Floyd Norman sketches out what has become the new ethic at Disney on Mike's watch.