They will never learn. Layoffs happen enough at this company and continue. In fact they are saying if numbers don't improve there will be more layoffs in September. Do they really think the people that were laid off today are going to save the company that much money? I know one way to save money -stop paying out bonuses for poor performance. I can't believe the Board of Directors has a let this BS keep going on year after year, not one VP, SVP, or GM was let go. What does that tell you? How can anyone possibly think Mattel can get better when the decision makers and strategic people are still here? Why did we buy a $450 million company versus investing in innovation and products that will sell?I think all hope is lost for Mattel. The innovation train left the station along time ago and Mattel was not on board. Too late for catch up.
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As long as the Board continues to serve upper mgmt. instead of the stockholders (is this legal?) then nothing will get us out of this mess.
Extreme overhead due to too many VP's + incompetency from same upper levels = overpriced toys that offer little play value
Why do you think Disney and others have given up on Matty Mattel.
I challenge the Board to justify the VP count for Mattel against other consumer product companies at the next public meeting.
Use to be proud of our product and the company's legacy. Now are product is of the same type reserved for grocery stores and swap meets but costing 4 times more. It's so obvious that you want to scream in disgust.
You guys are hilarious. The person that you're talking about at MEGA who was despised at F-P - guess who sheltered and protected her career? Neil! He's the one that brought her back to F-P and promoted her to SVP when no one in their right mind in ES would.
I assume you're talking about Mattel's resident mean girl? The person who if she decides she doesn't like you for whatever obscure reason you're as good as gone. I've seen her favor people she likes that are not talented in any way except for the gift of gab, that have stayed on and should have left during her tenure but deserving people who don't have the same level of polish and schmooze but are exceedingly talented and smart that get let go. That is the Mattel culture in a nutshell - if you've got the polish and the "executive presence" (matpics ;) then you are golden - ie Stockton, Dickson, Walker (ok maybe not so much that last one lol) but you see the point. This is prob one of Neil Friedmans undoing- someone who has the audacity to care about product and the true interest in the people that worked with him . On any given day at the office, Neil made it a point to walk around and speak to everyone. Al the time. He knew you. He knew your spouse, kids, where you lived, etc...why would any leader care to know those things? Because he genuinely cared! Being successful starts and ends with setting an example of a positive work culture should be and by god, he was the best. When he was in the office, everything gelled. Everyone cared because Neil cared. Just sayin'
The person put in charge of mega did little to advance the culture or productivity in NY but due to currying favor and kissing corporate ass continues to be elevated in rank. Guessing the uselessness at the top needed more friends.
I brought home some Mega sets from work when we acquired them and gave it to my kids. After a few days, it had been relegated to the side of the room and Legos were back in action and have been ever since. Even kids know what crap is and what is worth playing with. Darwins theory will prove itself out here.
Don't worry MEGA will never be a major player, especially going against Lego - have you ever played with that crap? Inferior product that doesn't snap togther well and is very inconsistent in terms of quality. Survival of the fittest and MEGA is not. Lego is superior quality that consumers recognize and that's why it sells.
C'mon, it was money well-spent, on paper anyway. Reactive, me-too, "innovation-based" Mattel bought Megabrands to "compete" with Lego, who just became the biggest toy company. Don't worry, it won't last long. Mattel will run them into the ground with clueless management, toxic corporate culture and PLM.
450 million purchase brings in additional revenue and cash flow instantly, investing, while smart if done right, reduces cash flow in short to medium term. If you are thinking in terms of short to medium term gains so you can line your pockets with bonuses (like our execs do), they did the right thing. Where things break down are on the board of directors and shareholder level, as nobody is watching while the great robbery is taking place.