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Learning Resource Chairman Rick Woldenberg discusses how government regulations are making it difficult for him to sell educational toys to children.
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We and the regulations nation week -- with a little more nonsense -- -- got the most ridiculous regulations of all tied my next guest.
Has now spent seven figures to comply with regulations to sell -- -- kids.
Over a million bucks just to sell rocks and fit all the regulations we welcome back learning resource sharing that Rick -- -- -- great to see again the last time.
You brought on these rocks that you had been in in scientific kids for kids that have to be taken out because of regulators what are you have -- system.
Well I thought I'd show you the label fossils.
Because they might have -- in them.
With the warned consumers not eat our fossils there there you know.
Like this fossils.
Unfortunately in order to sell an educational product in the United States that could conceivably have -- and -- I have to warn consumers that might have led.
And you know we didn't control the manufacturing of the fossils god did that and so we have to warn consumers.
You know -- -- -- and when Jesse Ventura was was governor of Minnesota.
He used to say He was against stupid laws are certain things that stupid people do that occasionally lead to deaths.
And there's no law that you can -- no regulation that you can create that's gonna prevent them from doing that do you think work into that where we just have so many stupid laws that we are.
We are killing job creation is country.
Not.
This this loss certainly is killing job creation and it's created a whole Powell over the whole children's product industry because -- huge liability.
That goes with breaking any of these rules even if they're really really ridiculous we'll let's the do likewise say is that it's as ridiculous as the rules -- -- As as much as you'd like to -- can't because you have to pay the price have you ever had to pay a fine for not following everything to the letter.
Well no because our recall rated.
1984 we found -- this point 00001%.
We only had one recall for like five boxes of stuff and we got -- -- back.
-- what was the recall or I'm curious.
When we did acquisition in 2006.
Product that came with their position had one component that had -- -- that.
And we hadn't.
Changed out the vendor yet and so we had a small amount of inventory that it leaked out.
We are very sophisticated systems to prevent this from happening.
And the five boxes pass through but we -- audit and we got him back now we haven't we're proud of that.
We T you should be and they're but we t.s this segment would -- suggest that you're gonna present us with the most ridiculous regulation that I can't think of a book.
That would do people -- that is regulate specific regulations that we would need.
That would cost job creators money and ordered it to implement these regulations because of the potential our map that would come from a book but.
Low -- -- all regulators saw that there could be ways of books could be.
Our full tell us about it yeah we have to put tracking labels on our books.
Because.
Just in case -- book poison someone and although there's no precedence for that and no one can ever find an example of but being dangerous for -- We still have to put tracking labels -- mean.
David I thought it was the words that were dangerous and about but apparently not if that really though the reason you have to put -- -- labels on because they're afraid that somehow some -- this book might kill people.
Well they they came up with a single rule for everything that was the people who invented sell by dates and milk and so since that work well with milk they wanted to and and children's products no kid and -- they put it on logical but -- -- expire.
Books don't.
Yasin and in fact the a sell by date on up encourages people to throw -- -- so at least as a way to pay for it but I have to put -- tracking label on it tweezers like this and and that's.
Ridiculous there's no conceivable way that that product is ever going to be recall but I have to invest in computer systems.
Labor.
Data capture I have to know -- every component came from every manufacturing case that I do -- kidding.
My heart care about the in my friend and that's the reason jobs are being created this country ridiculous regulations Rick -- -- learning resources chairman thanks again Rick we'll see -- back.
