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Back in the 80's, the Bass brothers rescued Mattel when the failure of Intellivision almost put Mattel under. If memory serves, Mattel's book value went to -$14 per share. I'm currently in HPH as a turnaround play.
mattel from what to $14.00. Agreed as a turn around play. at this level though very speculative at best. have you read any of the 10 reports yet or better yet the news release on the 750 mill. what debts will be negociated away? finally one last question, nobody reacted to my ASIA turn around question.P.S. like your BIO.
Mattel actually went to a negative $14 book value when they wrote off Intellivision, their video game subsidiary. When the Bass brothers came in with a $275 million rescue package, mostly in the form of an additional stock offering, Mattel was able to focus on its' core business of making toys and recover. Mattel has undergone some stock splits since then, but the split-adjusted price of the Bass brothers' cost would be roughly $2/share in today's market. I tagged along with them and it turned into a successful turnaround. I'm still trying to get a handle on everything going on with HPH. What attracted me initially was that there was concern among HPH's customers about their liquidity. With the financing, that problem should be removed.
Heard this morning that the Papermaking opperation may be spun off. Also, the big machinery business is rebounding a little. Anything ever come from the EX-CEO's stock sale? Also, the H/U assets in Chicago, is there any liquid value or was this money down the tubes?