Get ready for an interesting Christmas shopping season this year. Looks to me like Mattel, one of the nation’s leading toy brands is going to go down hard by the bow. They are already plagued with lead tainted toys from China, and now according to a CNN report I just watched, they are being sued by stockholders for not disclosing problems earlier. Furthermore, seems like insiders at Mattel sold off $33 million in stick just before the last round of bad news about lead poisoned toys. More distressing, Mattel hid these problems for months before reporting them.
As I said earlier this year in a rant about imported toys from China, it will take a major Enron style collapse before American companies wise up and stop looking for cheaper and cheaper sources for products. Mattel and Fisher-Price may soon be things of the past, and all because of corporate greed!
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