Beyond Barbie's Midlife Crisis; Is Mattel's Chief Up to a Companywide Makeover?
Mattel Inc chairman Jill E Barad's efforts to stem decline in company's earnings is drawing mixed reviews; Barad's strategy, which includes selling more toys directly to consumers through catalogues and Internet, has angered some retailers who accuse her of trying to compete directly with them; investors who were once enamored of Barad appear to have grown impatient waiting for her to deliver results; since she took over as chief executive in January 1997, company's stock has fallen 10 percent; many big investors say Mattel needs to generate hefty returns from recently acquired companies, reduce its reliance on Barbie and respond more quickly to changes in the way children play; graph; photo (M)