Mattel is eliminating more jobs and cutting retirements according to latest news. Must really stink to work for Mattel. Imagine you gave the company X years and then they kick you to the curb. What a great American Company, Contributing to our Unemployment, and providing our children with lead paint toys. And then passing on the Responsibility to the Chinese (Some of which committed suicide). Telling its empolyee's that their new ideas stink, and then when they start their own Company and produce Bratz seuing them for all their profits. Not generating any new sales of their own, but driving up the Stock price by beating expectations because of layoffs and cutting Advertisement. What a Great American company. Lets all Squeeze the Shorts and send the Stock to 19.19. Does anybody care? Does anybody have any common sense. Does anybody think that trading at 18 times earnings is in need of a correction. Have we all lost our minds and been Brainwashed by Cramer or Ben Bernake.
I'm going to take you to task. I believe that you never need extra employees. Employess must be needed. And expenses must be scrutinized.
I am frustrated, to about the lead issues. But they found out about them, didn't hide them, and corrected them. Did they blame the wrong persons? maybe, because they really should have had better controls (and the incident proved that). But, although a suicide is a truly horrible thing, is it possible that that there was an element of guilt. Still, truly excellent controls would have prevented these unfortunate events.
I will take Mattel to task for having all production overseas. I truly believe that the American Girl product should be produced here. Will it cost more - probably? But with the prices they get for this product, the extra cost in this regard is minor - and they will have a truly good advertising campaign - American Girl dolls made in America. Sometimes quality is worth it.