Stock's in freefall, please bring back the old guard! Barad, Amerman, Kalinske, anyone with any toy experience is better than the overpaid noobs we have now! This monkeys & typewriter experiment has failed!
6 replies (most recent on top)
Oh, and Jill will solve all of this.
There is a secular shift in the economy and customer preferences.
A 2 million employee Walmart is falling apart, entire retail on lifesuport, Amazon worth almost a trillion dollars, a computer in every pocket, always on and always connected, kids hate TV, cord-cutting is cool, Nike is boring and Disney is passé - everyone is a contractor or an Uber driver. How does f---ing Barbie (yob 1959) survive all of this???
Yeah, call Jill, she'll fix all of this...
200k / year for four meetings. 1st class tickets, perks, etc...
not a bad deal...
Mattel has to be the only free fall company with its President and Boardof Directors remaining untouched. And each Bored member keeps making over $200k a year!
Now that's accountability.
It has been reported that Jill's package grew to over $60MM before it was all said and done.
Not a bad payday for bankrupting a company.
Apparently you need to retake your Mattel History 101 course, compadre.....
Troubled toy maker Mattel Inc. disclosed Friday that it paid former Chief Executive Jill Barad a severance package exceeding $40 million.
The payout, disclosed in the company's annual proxy statement filed Friday with the Securities and Exchange Commission, comes as the El Segundo-based firm is bleeding red ink and its stock price hovers near historical lows.
Barad's tally could grow if her as-yet unnamed successor is able to reverse the company's fortunes, and its stock price rebounds.
(4/29/2000 Los Angeles Times article)
"...bleeding red ink and its stock price hovers near historical lows." Capiche?? Not the savior you fantasize about by any stretch. And to sweeten this debacle...."In addition, Mattel will pay Barad $709,000 a year for life in retirement benefits; allow her to keep some of Mattel's office equipment; sell Barad her company car for a "nominal sum"; and sell her undisclosed pieces of artwork at prices that Mattel paid."
Talk about your grand fiascos! Today's compensations pale by comparison. 40 million in today's dollars is equivalent to $56,860,859.47 using an inflation calculator. And that $709,000 for life? Wow.
And you lament about "the overpaid noobs" we have today?? You're killing me.
http://articles.latimes.com/2000/apr/29/business/fi-24610
Mattel is NSFW, get out while you can. Looks fantastic on a resume that you helped destroy a once-thriving company. If you do stay, put that at the top of your TRACS achievements! Together Everyone Achieves More! TEAM Mattel! Be proud and row harder, we're almost to the falls! Stock headed to low 13s BTW. Unavoidable.