A friend told me Mattel started Q3 with around $200 million cash on hand and around $3 billion in debt. Would another down quarter or two potentially wipe us out?
Also, when do we need to pay back the money that was lent? I'm starting to feel like all that talk of WONDER and positivity coming from senior leadership was really a smokescreen.
I second that laughter.
AND Ynot is looking to hire more high paid execs into stupidly paid positions who have absolutely no experience in this business.
More people who actually don’t work.
How worried should we be?????? ROFL ROFL ROFL, best laugh in forever.
A big chunk of that 200 million dollars goes to CEO and Executive Team's salary, compensation, bonus packages & interest to the 3 billion dollars debt. What's left? I'm not good at math but looks like the money is going to run out pretty quick.
I can’t confirm that those figures are accurate, but I did speak with some folks that are very knowledgeable on this subject; basically, the plan is to “right the balance sheet” by any means necessary over the next several quarters. Theoretically, if these next quarters do not go well, it could be possible that bankruptcy could occur in the back half of 2019. The plan is to do everything possible to avoid that; and I took it that bigger things will be coming, although I have no insight to what that actually means for workers. The best honest advice is to either make the choice to move on in your career, or unfortunately I think you’re in for hell of a ride with Mattel. That’s not to say it’s impossible that things turn out well for any individual; it certainly could be, but pretty much everything is up in the air at this point, as they try to figure the financials out. Best of luck to you and yours.
@ULinkoO-rsy! I hate to break it to you but Mattel was in dire straits long before the Trump tax cuts.
The problem is that this "house" that Mattel owns is SUPER inefficient and run down and cost a ton of money in maintenance and utilities. If you're working a full time job but even with all you salary and savings put together, at the end of the month you'll only barely have enough cash on cover one more round of bills and you'll be broke, that's not a good place to be because the next month those bill will be due again and your nest egg is gone, and your income can't begin to cover those costs. But of course this is Trump's fault, for reasons.
That's accurate: https://finance.yahoo.com/quote/MAT/balance-sheet?p=MAT
However, how much is your mortgage vs how much do you have in the bank account? I think it would be very similar and you aren't filing for bankruptcy correct?
The problem with Mattel isn't the current debt, but that the Trump tax break in November to the wealthy pumped too much money into an overheated economy and interest rates are going up quickly. Trump's tax break will bankrupt Mattel but because of the future debt not the current one.