The Associated Press reports that another batch of killer toys from China is being recalled. On Wednesday, toys and children's necklaces made in China were recalled, including five more items from the popular Thomas & Friends Wooden Railway product line, because they contain dangerous levels of lead.
Here are the details:
- 23,500 more necklaces, bracelets and pendants imported by TOBY N.Y.C. of New York;
- 850 children's Spinning Wheel Necklace necklaces, produced by Rhode Island Novelty of Cumberland, RI;
- 350,000 Happy Giddy Gardening Tools and Children's Sunny Patch Chairs, imported by Target Corp. (NYSE: TGT) of Minneapolis, MN;.
- 200,000 Thomas and Friends Wood Railway Toys and 800 Britain's "Knights of the Sword" series toys, distributed by RC2 Corp. (NASDAQ: RCRC) of Oak Brook, IL
- 16,000 children's toy rakes imported by Jo-Ann Stores Inc. (NYSE: JAS) of Hudson, OH.
- 10,000 Floor Puppet Theaters produced by Guidecraft Inc., of Englewood, NJ.
Chinese officials try to minimize the significance of the recall -- claiming the problem is "one in a thousand" -- while admitting it takes the problem "seriously." Meanwhile, it's unclear what financial impact these recalls will have on the publicly traded retailers that distribute these toys.
With the holiday season fast approaching, will you be buying Chinese toys? If not, where will you buy those toys?
Peter Cohan is president of Peter S. Cohan & Associates,. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.
The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Savings Experiment: Snow Removal


Reader Comments (Page 1 of 1)
9-27-2007 @ 12:44PM
Cindy said...
Recently I read in the Erie Times (PA) that the Chinese represenative of "quality" control blamed the US for this fiasco. Reason? We don't seem to make our "standards" clear to their manufacturers. Does that mean that they feed poisoned dog food to their pets, or let their children play with toys with high lead content? Hmmmmmm.....
9-27-2007 @ 2:56PM
Ztea said...
Recalls have become a huge scam. Recalled items are usually bought again. Get it? Recall an item and then your new sales & shipments increase. No wonder stores affected show increases in sales. I say keep what you have because the risk of death or injury is so microscopic! Forget the recalls and save yourself the expense of buying new stuff.
9-27-2007 @ 3:21PM
teresa said...
I don't agree at all to the recalls being a scam -- I think American consumers are beginning to see that American manufacturers who outsource jobs to make record profits, at the expense of our own economy and the well-being of our own kids, do not deserve our hard-earned dollars. We certainly DO NOT have to buy their products, and should instead reward those American companies who keep jobs here in America and produce quality products. I hope shoppers will consider buying toys for their kids that are made here in America. And despite what people might think, there ARE choices out there if people look around. I've been researching and googling, trying to to see if there are quality toys made here in America. I've discovered over 100 websites for American-made toys, and continue to find more every day. Some are large companies we're all familiar with, and some are mom-and-pop businesses that deserve a look. (I compiled them on my website, www.toysmadeinamerica.com) I think people will begin to realize that they DO NOT have to spend their hard-earned dollars on toys produced overseas, from American companies who outsource jobs and threaten our own economy (and the welfare of our kids) in order to make record profits (and they certainly don't pass the savings on to us! Many of these recalled toys are not, in my opinion, cheap... only cheaply made!) Enough is enough, we all deserve better.
9-27-2007 @ 11:07PM
Marti said...
Personally I would like to see every 99cent, Dollar Store & all the similar ones closed down. I had two friends who had to go to a dentist afer we passed around a tray or treats with toothpicks from one of these stores. The toothpicks splinterd & stuck in my guests teeth.Why do we need canned pears & ohter fruit from China. Trade has never been on an even keel since we opened the trade agreement with Asia countries. I'll pay more to support made in the U.S.A. products & keep our jobs here. Enough is enough.