Encore: Hasbro vs Mattel | The House of Cards | 3

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 28 December 2020

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sizzlers, Mattel’s new motorized Hot Wheels, were supposed to be the top toy this Christmas. But sales have fizzled, leaving Mattel $30 million below target. For the last ten years, Mattel’s done exceptionally well by its investors, but now the toymaker is facing a stock price collapse. To keep up appearances, Mattel starts cooking its books—but the move may end up costing CEO Ruth Handler the company.

Elsewhere in Toyland, Hasbro’s facing an uncertain future. Kids are turning their backs on G.I. Joe and the company’s short on cash. As its rivals rush towards an electronic future, Hasbro risks being left behind.

This episode orginally aired on March 27, 2019.

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Transcript

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0:00.0	Hey, prime members, you can listen to business wars, add free on Amazon music.
0:04.8	Download the app today.
0:13.2	It's December 1970, and in Mattel's LA headquarters, there's a crisis meeting underway.
0:19.0	Sizzlers, the new motorized hot wheels cars were supposed to be this Christmas's hottest
0:24.0	toy.
0:25.4	That's not happening.
0:26.6	Mattel's CEO Ruth Handler wants answers.
0:30.5	How far below our sales target are we?
0:33.0	Finance chief Seymour Rosenberg checks the figures.
0:36.5	Uh, almost $30 million.
0:40.6	Ruth takes a drag on her cigarette.
0:43.0	This is bad.
0:45.1	Mattel's promised Wall Street another year of record growth.
0:48.4	The kind of growth that delivered throughout the 60s.
0:51.2	$30 million below expectations.
0:54.6	Bad.
0:55.6	Really bad.
0:58.0	And Ruth is about to learn from her finance guy.
1:01.4	That could have big implications.
1:03.1	They're facing a stock price collapse.
1:05.6	And if that happens, it'll be much harder to secure financing for more acquisitions.
1:10.8	Our growth strategy will be kaput.
	...

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