Mattel: Recall Has $30 Million Impact

Mattel: Recall Has $30 Million Impact: “Mattel apologized Thursday to customers affected by a recall nearly a million toys from its Fisher-Price division and said the move will cut pretax operating income at the world’s largest toymaker by $30 million.
The plastic preschool toys were made in China with paint found to have excessive amounts of lead.
‘We apologize to everyone affected by this recall, especially those who bought the toys in question,’ Robert A. Eckert, Mattel Inc.’s chairman and CEO, said in a statement.”

If you think this is only going to cost Mattel $30 million just wait until they get the class action lawsuits from the parents of the children who are found to have raised lead levels from the Chinese toys. The question might be, will they even survive?