The Curse of the Beanie Babies continues, and it appears that no one is safe from these toys once hailed as the be-all end-all solution to your financial problems: Ty Warner, owner and founder TY, which makes the plush animals, is set to plead guilty to tax evasion after squirreling away millions of dollars in a secret Swiss bank account, says the Justice Department. At least he wasn’t stockpiling Beanie Babies with the hopes of reselling them. [More]
After protests from the First Lady, toy company Ty has agreed not to sell “Sweet Sasha” and “Marvelous Malia” dolls. Ty, the maker of Beanie Babies, had maintained that the dolls were not based on the Obama daughters.
A toy-maker who refused to issue a recall for its lead-tainted toys has reversed its position. TY made some “Jammin Jenna” dolls with that were found to have more lead than 600 parts per million Illinois state limit. In response to recall requests, TY said it didn’t have to because they said federal law supersedes state law. However, the state AG and federal CPSC responded that states are allowed to adopt more restrictive laws in the absence of federal regulation. TY will pull the Jammin Jena dolls and replace their leadly shiny red vinyl shoes with cloth ones.
Several toy makers are refusing to issue recalls for their toys, even though tests have proved they contain over 500 times the legal limit for lead. One says that it’s leadly charm bracelets are not toys and therefore not subject to toy rules. Ty, which famously makes Beanie Babies, is refusing to pull “Jammin’ Jenna,” because while state law bans vinyl toys with more lead than 600 parts per million limit, the federal law doesn’t – an argument that won’t go over well with the attorney general’s office, or parents.