Betting on Barbie with Mattel CEO & A Congressional Stock Ban with Sens. Hawley & Gillibrand 7/27/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 27 July 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s Barbie’s world and we’re just living in it. Mattel CEO Ynon Kreiz emphasizes the power of the brand, the doll, and the movie-prompted cultural phenomenon. Kreiz discusses the company’s quarterly results and the connection between $162 million at the box office and Mattel’s bottom line. In a bipartisan push, Sen. Kirsten Gillibrand (D-N.Y.) and Sen. Josh Hawley (R-Mo.) is aiming to ban Congressional stock trading. The unlikely duo discusses why a ban is necessary and simple, and why exceptions for blind trusts just muddy the problem. Plus, something for investors to chew on: Comcast, Meta, Chipotle, and others have reported quarterly financials, and the Federal Reserve has hiked interest rates again. In this episode: Ynon Kreiz, @Mattel Sen. Kirsten Gillibrand, @SenGillibrand Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squack Pod and I'm C.N.C. producer Cameron Costa.
0:09.0	On today's episode, investors and our anchors digest another Fed decision and another slew of company earnings.
0:18.0	From Meta to our parent company Comcast.
0:21.0	A political view.
0:22.0	A political view.
0:23.0	A political.
0:24.0	It has nothing to do with who we work for.
0:25.0	Toy Company Mattel reporting a quarterly profit.
0:29.0	CEO Enon Cries on the results and on reviving Barbie's branding.
0:34.5	From the very beginning, this was never just about making a movie.
0:38.4	This was about creating a cultural phenomenon.
0:41.9	Plus a bipartisan effort to ban congressional stock trades. The duo pushing it
0:47.2	forward Republican Senator Josh Holly. If you ask people do they think that
0:52.0	members of Congress ought to be able to trade individual
0:54.8	stock, they see overwhelmingly no, and most are shocked to learn that it's legal.
1:00.0	And Democrat Senator Kirsten Gillibrand.
1:02.4	No, it should be coming to Congress to make and Democrat Senator Kirsten Gillibrand.
1:02.8	No, it should be coming to Congress to make money off the non-public information that they're
1:07.2	getting.
1:08.2	That is not what we are here for.
1:09.5	We're here to serve the public.
	...

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