Rumor is the bond couldn't find any buyers and they had to pull it. Better listen to MGA.
15 replies (most recent on top)
"Nothing lasts forever." Well, not for nothing but Barbie has been around for 60 years and still commands an entire aisle in Walmart or Target. I know people like to sh!t on Mattel around here, but I can't think of another toy brand that's managed to remain relevant after so many decades besides maybe hot wheels? That's not an easy thing to pull off.
The only good thing about MGA is that they have fewer layers in the process to production so mediocre ideas come to fruition sooner then die faster when they turn out to be a flop. LOL is a fluke but it will quickly fizzle out. Shopkins had a good run but now they are trending out. Nothing lasts forever.
The story of Mattel's downfall is a cautionary tale of how garbage leadership can take even the most successful or promising company and bring it to it's knees. Sad.
Better to have a tyrannical leader with a strong vision and deep understanding of the industry compared with the revolving door of losers Mattel have been dealing with for the past 10 years.
Working for MGA is not what it's cracked up to be. The management is adequate and the other employees are talented, but the CEO of the company is a tyrant who no one likes. Ask anyone who works there.
We should know more by early next week, managment's caginess around this whole "whistleblowers letter" thing is only making the situation worse.
Since when is the link down?
HA, this setback shut Mattel's mouth but good. The "Investors" link on Mattel's official page is dead. At bottom of https://corporate.mattel.com/about-us/
i WONDER if no news is REALLY good news?
WAY TO GO, YNON! Quite a first for Mattel on YOUR watch. This is even more embarassing and damaging than Marge absconding with $31 million. Forget the Barbie, He-Man, 8-Ball and Viewmaster movies, the movie rights to the true story of Mattel's tortured final years will be worth billions. Lets's all ride this flaming t–d of a company (and stock) to the ground as long as we can hold on.
Get your facts straight. It is certainly not a positive development, at all, but not represented correctly in the other threads.
https://www.bloomberg.com/news/articles/2019-08-08/mattel-plunges-after-pulling-bond-sale-on-whistleblower-letter
The last five years at Mattel has been like watching a painfully slow motion impending car wreck. But now I can't help but feel maybe it's to late to avert disaster, maybe we've already hit the tree and the wheels are flying off.
Gas lighting. Not a good look on you.
This could finally be the end and many lawsuits against the board and management. Can now see why MGO took her $30m and ran.
Time to look into MGA job offers for real.
which suggests that the real story here may be that the company is having trouble finding someone to extend it the money it needs at a rate it wants to pay and using the whistle-blower claim as an excuse to suspend the debt offering and play for time.