Friday, March 23, 2012

Etch-a-Sketch Manufacturer, Ohio Art, Sees Stock Rise

Ezra Klein reports that the over-the-counter sales of Ohio Art's stock rose 200% yesterday after the political gaffe by Romney's campaign aide lead to a perfect storm of publicity for the toy.

The Wall Street Journal covered the reaction of the company's president, Larry Killgallon, to the day's events:
The toy's presence in movies like Toy Story and Elf have led to sale boosts in the past--in 1995, the year of the first Toy Story release, Etch A Sketch sales were up 22%.
But Killgallon was quick to point out that those movies had a bit more appeal to a consumer group of four- to eight-year olds than primary political campaigns do.
Toy Story, also, was released in November of that year, just in time for Ohio Art's holiday selling period, when it makes nearly 60% of its sales. Killgallon said he would have preferred the campaigns to launch into this tactic for November's general election instead.
He said Ohio Art, though, doesn't endorse any candidate as it's a politically neutral company.

"Etch A Sketch does have a left knob and right knob," he said. "And if they work together, they can make a circle."
A good lesson for politicians of both parties.

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