NYSE: WMT) announced this morning that it will be recalling over 210,000 standard kitchen toasters distributed by General Electric Corp. (NYSE: GE). Of course, GE doesn't make many consumer products itself (it contracts out), so this is another reminder that brands must have some say in quality control of their outsourcing partners. Oh wait -- that costs too much, and I doubt Jeff Immelt wants to explain to shareholders that profits were down due to safety recalls.
Moving right along, this recall was announced by the U.S. Consumer Product Safety Commission (CPSC) last night. Apparently, the heating element inside the toaster can cause a short circuit, with sparks emanating from the toaster itself. Circuit breaker trips in consumer's homes were mentioned in the recall notice as well. Wal-Mart heard from 140 consumers about this particular toaster, which carries the GE logo on the front of the box and toaster itself, with model numbers 169115 and 169116.
As usual, the offending products were made in China. They were sold at Wal-Mart stores in the U.S. from September 2007 until July 2008. Although no injuries have been reported, consumers can return these toaster models to Wal-Mart for a full refund or an exchange for another brand of toaster.
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
