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Technology Stocks : Jimbo's Playhouse/CPQ

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To: Mao II who wrote (4561)	10/8/1999 12:57:00 PM
From: Night Writer	Read Replies (1) of 12662

M2, Appears Jill rumors may be incorrect. NW NEW YORK, Oct 8 (Reuters) - Mattel Inc. <MAT.N> Chief Executive Jill Barad has told the board that she doesn't yet know the full extent of problems at the recently-acquired Learning Co. unit, the Wall Street Journal said Friday. The toy maker recently said it expects a shortfall in third-quarter earnings due to losses at the unit. Barad briefed the board on Wednesday, the Journal said, and promised to deliver a full accounting soon. Citing "people familiar with the meeting," the Journal reported that Barad told the board she was only informed last week about a revenue shortfall at Learning Co. resulting in a $50-$100 million loss at the unit, and that division heads had not told her the extent of the problems. Some distributors who sell Mattel and Learning Co. software unexpectedly returned large quantities of inventory to Mattel in the third quarter, "people close to the situation" told the Journal. ((New York Newsdesk, 212-859-1700)) REUTERS

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