Bob Eckert, the chairman and CEO of Mattel, will never forget the way he spent his 53rd birthday August 14. He sat in front of a television camera set up in a conference room in Mattel's headquarters in El Segundo, Calif. Talking into the dark lens, he delivered the same bad news over and over, in as many live newscasts as he could: Mattel was recalling 18.2 million toys, the most in company history, because of lead paint and design flaws, and there could be more recalls to come.
Toy industry executives met Thursday to hammer out tough new safety measures for toy makers, including a requirement that would make testing mandatory.
The U.S. toy industry may have a subpar holiday season as nervous parents look for alternatives to traditional toys, according to a new report from Standard & Poor's Equity Reseach.
Amy Granelli started her holiday shopping weeks ago. As she aimlessly pushed her cart through towering aisles of toys she still found herself overwhelmed by choices.
The CEO of Mattel Inc. insisted Tuesday that his company has "rigorous standards" and apologized as the company was forced to recall millions of toys for the second time in two weeks.
Initial reports from China's quality control watchdog have confirmed U.S. findings that exports of Aqua Dots toys were contaminated with a toxic chemical that turns into a powerful "date rape" drug if swallowed, according to state-run Xinhua news agency.
Bob Eckert, the chairman and CEO of Mattel, will never forget the way he spent his 53rd birthday August 14. He sat in front of a television camera set up in a conference room in Mattel's headquarters in El Segundo, Calif. Talking into the dark lens, he delivered the same bad news over and over, in as many live newscasts as he could: Mattel was recalling 18.2 million toys, the most in company history, because of lead paint and design flaws, and there could be more recalls to come.
Toy industry executives met Thursday to hammer out tough new safety measures for toy makers, including a requirement that would make testing mandatory.
The U.S. toy industry may have a subpar holiday season as nervous parents look for alternatives to traditional toys, according to a new report from Standard & Poor's Equity Reseach.
Amy Granelli started her holiday shopping weeks ago. As she aimlessly pushed her cart through towering aisles of toys she still found herself overwhelmed by choices.
The CEO of Mattel Inc. insisted Tuesday that his company has "rigorous standards" and apologized as the company was forced to recall millions of toys for the second time in two weeks.
Initial reports from China's quality control watchdog have confirmed U.S. findings that exports of Aqua Dots toys were contaminated with a toxic chemical that turns into a powerful "date rape" drug if swallowed, according to state-run Xinhua news agency.
Despite the recent rash of toy recalls, industry expert Jim Silver predicts that parents will snap up the hottest must-have items during the upcoming holiday season.
Fisher-Price and the Consumer Product Safety Commission announced Tuesday a recall of 155,000 of its Laugh & Learn Learning Kitchen toys because of small parts that pose a choking risk for small children.
About 380,000 Galaxy Warriors toy figures are being recalled due to surface paints containing excessive levels of lead, according to a warning by the Consumer Product Safety Commission Wednesday.
Hasbro CEO Al Verrecchia told analysts Monday that he believes the recent softness in retail spending, not the recent string of toy recalls, poses the biggest threat to crucial holiday toy sales.
Mattel Inc., the world's largest toy maker, is nursing a black-eye after a series of high-profile recalls this summer. But some industry experts think the worst is over for the company and that the stock is now a bargain for long-term investors.
Tests conducted on some toys and other children's products sold recently at Wal-Mart, Target and Toys "R" Us stores were found to contain dangerously high levels of lead, consumer interest groups said Thursday.
Toymaker RC2 Corp. on Wednesday announced another recall of 269,000 of its Thomas & Friends wooden railway toys because the surface paint on the products contains high levels of lead.
Analysis: The company admits that most of its toy recalls were due to its own design flaws, not Chinese manufacturers. Lesson: Mattel needs China as much as China needs Mattel
Mattel Inc. tried to save face Friday with Chinese officials, taking the blame for the recent recalls of millions of Chinese-made toys as it strives to mend a strained relationship with the nation that makes most of its toys and fattens its profit.
There will be additional recalls of toys with lead-contaminated paint in "the coming weeks," a source with knowledge of the coming announcements told CNN Wednesday.
The U.S. Consumer Product Safety Commission announced Tuesday an agreement with Chinese officials aimed at stopping the use of lead paint on Chinese-made toys that are exported to the United States.
Mattel CEO Robert Eckert made another public apology Wednesday over unsafe toys that were made in China, and sought to convince a Senate panel that the company was determined to avoid more recalls in the future.
A new study released Tuesday that analyzed two decades of toy recalls in the United States found that a defect in the product design, rather manufacturing flaws such as unsafe raw materials or poor craftsmanship, were responsible for a majority of those recalls.
Toys "R" Us on Monday said the company has initiated safety checks of all products on its shelves following the recent string of major toy recalls by Mattel and other toymakers.
U.S. President George W. Bush on Thursday told reporters that talks with Chinese President Hu Jintao were "constructive" and centered on Iran, China-made product recalls, global climate change and civilian religious freedoms.
The Consumer Product Safety Commission, in cooperation with Mattel Inc., announced late Tuesday that it is recalling about 700,000 Chinese-made toys that have excessive amounts of lead paint.
Toy inspectors set fire to Elmo's bulging white eyes, tugged on Dora the Explorer's arms and scraped paint off a Barbie play set -- tests they called a routine part of efforts to make sure Chinese products are safe for American children.
The Consumer Product Safety Commission, in cooperation with Mattel, announced a recall of 844,000 toys that contain excessive levels of lead paint Tuesday night - the third such recall of Chinese-manufactured toys by Mattel this summer.
The Consumer Product Safety Commission is investigating whether Mattel "knowingly" withheld information regarding potential safety risks associated with its toys that were involved in a major recall last month, according to a published report Tuesday.
Mattel Inc., whose reputation has been battered by two high-profile toy recalls this summer, will announce on Wednesday the recall of a third batch of Chinese-made toys because they may contain excessive amounts of lead paint, The Associated Press has learned.
China's first nationwide recall system for unsafe food and toys came into effect Friday in one of the strongest steps taken by Beijing to clean up the country's scandal-hit manufacturing industry.
China hit back on Monday after Mattel's massive toy recall, saying designers and importers should also take responsibility for product safety, but promised to punish its own manufacturers who flout standards.
China hit back after Mattel's massive toy recall on Monday, saying designers and importers should also take responsibility for product safety, but promised to punish its own manufacturers who flout standards.
China has launched a four-month "war" on tainted food, drugs and exports, state media reported on Friday, as beleaguered officials embraced time-tested campaign tactics to clean up the country's battered image.
New York Governor Eliot Spitzer vowed Friday to take legislative action on the recent federal recall of lead-contaminated and hazardous toys because it does not require retailers to take the products off store shelves.
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