The Beat takes note of Marvel Comics' recent downsize.
From the post...
Perlmutter and his then partner Avi Arad rode in to save Marvel from bankruptcy when they ran ToyBiz back in the late 90s. Keeping an eye on the bottom line was key to turning the company around. Bold moves like setting up their own $500 million movie studio took Marvel from penniless publishing company to a Wall Street darling with numerous stock splits. And of course, it led to Disney shelling out all that cash for a ready-made, boy-friendly franchise factory.
Although he no longer owns Marvel, Ike still runs it. And rather than sit back and enjoy his sunset years—he’s 68—with his $1.7 billion fortune, he’s chosen to keep a very active hand in running the company. In recent months he’s become even more active, showing up at the office daily. And it seems the only way he knows how to run a company is by increasing profits — not by investing in new businesses, but simply squeezing the bottom line for every last penny by any means.
If Ike thinks an expenditure is unnecessary, there’s no way around it, and anyone caught doing it is in danger of losing their job. Why did Marvel not have a booth at conventions for years? Ike wouldn’t allow it. Marvel got around this in various ways — one year at San Diego, a cookie giveaway was used to mask a barebones signing table. In other years, Marvel exhibited with its video game partner, Activision. Since becoming a movie studio, Marvel has been able to spring for more lavish and spectacular booths — remember Thor’s throne? But promoting comics isn’t in the budget.
The current problem seems to stem from a publishing forecast that didn’t get hit when the actual numbers came in.
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