German Toy Train Maker Off The Tracks : NPR
Executives Making $1,000 An Hour? Court-appointed bankruptcy lawyer Michael Pluta says when he arrived he found the company with three CEOs paying themselves 700 euros about $1,000 an hour. Pluta says his first act was to rid the company of its top-heavy management. He says he told them, "I will not pay. Bye-bye. Have a nice time!" Pluta says he now has seven "serious investors" vying to buy the company. Each has pledged to invest at least $135 million to rebuild it. But Pluta says he is also seriously considering another option: turning to Marklin's huge global fan base model train buffs from Alaska to Australia. There are enough true believers, he says, to help save and revive one of Germany's oldest and most celebrated toy companies. "Because the fans told us they would like to invest," he says. "And we have a Marklin club with more than 75,000 people in Germany. Even overseas in Japan.
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