In a bid to keep its sinking retail ship afloat, Sears on Thursday announced the sale of its iconic tool brand Craftsman to Black & Decker for a mere $900 million. But with the change of hands, many stalwart Craftsman lovers aren’t sure if they’ll be sticking with the brand in the future. [More]
Stanley Black and Decker is rumored to be one of the bidders on the venerable Craftsman brand of tools from Sears, but the company may have gone out shopping and bought itself a different tool company instead. Newell owns brands that range from Coleman camping equipment to Uni-ball pens to Yankee Candle and Calphalon, and now it owns fewer power tools and saws than it used to. [More]
The legend says that 89 years ago, the head of hardware at Sears Roebuck really liked the name Craftsman, and bought the trademark from an existing tool company for $500 ($6,921 in 2016 dollars). Today, parent company Sears Holdings is troubled and in need of a cash infusion, and has quietly solicited bids for Craftsman. It’s reportedly worth around $2 billion. [More]
Black & Decker To Pay $1.57M Penalty For Failing To Report Defects Of Lawnmower That Started On Its Own
Under federal law, manufacturers, distributors and retailers are required to immediately report information regarding possible safety defects to the Consumer Product Safety Commission within 24 hours of obtaining reasonable supporting evidence. That 24-hour window allegedly turned into 11 years for Black & Decker and now the company must pay a nearly $1.6 million fine for failing report safety issues related to an electric lawnmower that started spontaneously, injuring at least two consumers. [More]
The Consumer Product Safety Commission and Haier America have announced the recall of 67,500 Black & Decker and Haier chest freezers over a potential fire hazard.
Earlier today, Black & Decker and the U.S. Consumer Product Safety Commission announced a voluntary recall of 192,000 Black & Decker Random Orbit Sanders after several reports that the plastic disc that holds the sandpaper to the sander can fly off and hurt the hell out of you or anyone around you.
This is too big to save for a recall roundup – 670,000 Black & Decker coffeemakers sold at K-Mart, Kohl’s, Target, Walmart, Bed, Bath & Beyond and Amazon.com have been recalled. Hot water can overflow out of the carafe, and some owners have sustained second degree burns. [Consumer Reports] [Recall Site]