It seems that “ho ho ho” is too scary for today's children. Obviously he's decided that rewarding people for being good doesn't work, so he'll just scare them into behaving. I must remember that and use it when I have kids: Eat your peas or I'll get out the red suit and sleigh!
Maybe we need a replacement for Santa. Or we could just ditch the idea entirely and give presents spontaneously as a real sign of affection for people… nah — it'd never work.