Friday, December 11, 2009
In 1929 Donald Duncan sees a toy being demonstrated in Los Angeles. He was so impressed by this toy that he bought the rights to the toy company for $25,000, and 30 years later, sales of his toys reach $25 million. At its peak, his company produced 3,600 toys/hour. In 1968, Abbie Hoffman was cited for contempt of Congress for using this toy in an effort to entertain the 'House Subcommittee on Un-American Activities' that was investigating Hoffman. Richard Nixon made headlines when he used this toy on stage at the opening of the Grand Ole Opry in Nashville in 1974.
Duncan had to declared bankruptcy after losing a supreme court case over the patent on the name of his toy. He died in an automobile accident in 1971.
Can you name the famous toy?