When Mattel suspended the dividend in 2017, they placated investors by pledging that the money would be used to shore up the business. Since then, has anyone witnessed any vigorous re-investment within the company? People? Talent? Hardware? Tools? I'm not aware of any visible expenditures other than Margo riding into the sunset with $31 million for a year's work. How much did Chris Sinclair scoot with? This place was a complete dumpster fire long before Covid, which has been an inadvertant blessing for us. Sales are up because of the worldwide pandemic, NOT because of wise leadership, skillful marketing or great product. When things get back to normal and Mattel resumes "business as usual", watch out.
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not just bonuses, check out all the "voluntary" departures at Senior level. How much does a SVP get? half a Mil?
The yearly vacation budget for someone on the 15th floor is 50k. Remember that next time you don't get a raise that beats inflation.
Dividend was used up to pay out undeserved bonuses to the 15th floor.
Sales are up? LOL, no they ain't.
That might just be the ultimate "lean in" move of all time; get hired, cut the dividend, get paid $31 million and bounce all within 12 months.