Driving out of business with a MultiCultClassics Monologue…
• Toymaker Mattel reported 4Q profits dropped 46 percent, with Barbie sales down 21 percent and Hot Wheels falling 22 percent. Wonder if Hot Wheels will join General Motors and Chrysler for federal bailout money.
• Macy’s announced it will dump 7,000 workers, cut capital spending, stop contributing to employees’ retirement funds and reduce its dividend. The retailer’s CEO said, “We just believe that this is a time when nothing should be considered a sacred cow.” Sound like a bunch of cow dung.
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