Everyone I talk to in Design is looking for a way out of this nightmare. The best people will offer to take voluntary retirement or severance package. Others are searching elsewhere for a job. Before long, Mattel will be nothing but new CEOs, consulting old CEOs, VPs and Marketing ass-clowns sitting around wondering why there is no one around making product anymore. Who's reviewing these idiots' MATPICS for Ethical behavior? A new 52-week low for the stock and a new 52-year low for morale at Mat-Hell.
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Hey, Bryan Stockdown can at least play guitar for the Toyz right? Play while Mattel is burning down around him as he gets $125 K a month for a year to do absolutely nothing :)
Gotta love it Hasbro, & DCP :) Cars will be the next big license Mattel loses after ruining what was once an evergreen line making $350K a year. Where is it now? In the toilet.
Go Think Way.
Stockton has a non-compete and other strings. Check out the 8K that was filed (public info) explaining his consulting contract.
I believe it was probably part of Stockton's contract to have this pretty damn nice consulting gig after leaving. It doesn't seem right to a lot of people. If Mattel would like to change something, then maybe I think we need CHANGE in the contractual agreements of CEOs, VPs and anyone else who gets hired with a "contract". I'm confused, because Mattel Legal usually wants to hold all the cards with most other contractual agreements and they are pretty aggressive and overly anal about it. They really f'd up here. All of this concern given to protection of the individual's reputation. Did we get that? No. If the company is going to be held responsible to consistently produce positive growth and profit every year to the stockholders (which is impossible), with a consequence of layoffs - then I say, from now on CEO must produce positive results OR they friggin' boil with no escape clause. This has happened twice now in the last 20 years. Jill Berard and now Stockton. Something to think about, just sayin'.
I heard that Bryan Stockton is being paid to do NOTHING for a year. He doesn't have a no-compete clause in his contract (so he really IS better than everyone else) and so Mattel is paying him $1.5 million to sit on his ass. This is truly an outrageous slap in the face to all Mattel employees. First of all, everyone else signed that highly illegal employee agreement where we promised (and common sense dictates) that we keep our mouths shut after leaving Mattel, to avoid another Bratz lawsuit. Bryan is not bound by some similar contract and/or common sense? And second, keep the $1.5 million and let him blab! He doesn't know anything, doesn't understand the business, doesn't have a clue! All he can do is hurt someone else's business, so turn him loose! Keep that $1.5 million for 20 people's salaries here instead of laying everyone off! This is Business 101 stuff, guys, or did you all sleep/skip/party through that class?
Right on, what about the code of conduct? Is management exempt from following policy? Corporate climate is to treat people like crap.