"Then in 2008 and 2009 the U.S. economy tanked...retail dwindled and a new toy regulation was enacted in response to the poor quality and mass quantity oversights by some really big toy companies. This new law raises the testing price for each product and in some cases, doubles or triples the costs. For some small companies, it can cost one year of total revenue just to meet the requirements of this law. The law is for any product marketed to a child age twelve and under and for any product made anywhere...even here. It has frozen many small and midsize companies leaving the companies that caused the problems in the first place as some of the only companies that can afford to stay in business. Financially, it caused me to temporarily halt my business...I changed!"We wish Phebe the best as she adapts to the consequences of the CPSIA. Hopefully, it can be changed, too, so that she can resume her remarkable business.
Tuesday, June 1, 2010
HTA Member Phebe Phillips' Commencement Address to the Texas Women's University on how the CPSIA has affected her business and her outlook on life
HTA member Phebe Phillips was asked to present her life story to the TWU class of 2010. Her theme was adaptation and change, with an emphasis on how the CPSIA forced her to put her successful business on hold. We can only hope that every politician who created the CPSIA will take a few minutes to listen to Phebe's story.