Toy Carmaker Mattel Now Worth More than GM!
10/9/08, 02:48 AM
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Closet American
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Toy Carmaker Mattel Now Worth More than GM!
Wow, this really puts things in some perspective.
Today, toy carmaker Mattel Inc. is worth almost $2 billion more than GM. Mattel's market capitalization -- the value of all its outstanding stock -- is $5.81 billion. GM's is worth $3.91 billion.
Sadly, Ford's not in much better shape >>
Ford has more cash on its books than GM, thanks to a $23 billion loan package it secured two years ago by mortgaging all of its U.S. assets. That has insulated Ford from the sort of bankruptcy speculation that swirls around GM, though Selle said GM has more options than Ford.
"They don't have the cash, but they do have unencumbered assets worth about $20 billion," he said, adding that GM also has an overfunded pension fund and could gain still more cash by delaying payments to a union-run health care trust...
Today, toy carmaker Mattel Inc. is worth almost $2 billion more than GM. Mattel's market capitalization -- the value of all its outstanding stock -- is $5.81 billion. GM's is worth $3.91 billion.
Sadly, Ford's not in much better shape >>
Ford has more cash on its books than GM, thanks to a $23 billion loan package it secured two years ago by mortgaging all of its U.S. assets. That has insulated Ford from the sort of bankruptcy speculation that swirls around GM, though Selle said GM has more options than Ford.
"They don't have the cash, but they do have unencumbered assets worth about $20 billion," he said, adding that GM also has an overfunded pension fund and could gain still more cash by delaying payments to a union-run health care trust...
10/9/08, 03:41 AM
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Closet American
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With the current economic crisis as serious as it is...and likely to get worse before it gets better, I'm forced to wonder if GM and Ford can possibly survive, despite the significant gains they seem to be making (Ford in particular) in their product lineups. They were in bad shape before this storm hit.
10/12/08, 07:14 PM
#4
Shelby GT500 Member
Hollywood, I would have to agree. It is quite concerning. These companies (and many others like them) are beginning to be in similar positions as over-leveraged families. The question is, do they have the cash and debth to be able to weather the storm? Time will definitely tell.
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