Couch Potato Investment


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Couch Potato Investment

Couch Potato Investment

The Controversial Spud

Did you know that Mr. Potato Head was originally a real potato? His identity as food was nearly the stillbirth of Mr. Potato Head because in the late 1940’s when inventor George Lerner developed the idea for Mr. Potato Head people were still in recovery from the Depression and World War II. Poverty and food rationing had left an impression and people were appalled at the idea of wasting food.

George Lerner and his friend Julius Ellman had formed The Lernell Company and began inventing toys. The huge success of their toy Mr. Potato Head was not without its trials. Because of the potential controversy surrounding Mr. Potato Head all the toy companies that the pair presented Mr. Potato Head to turned them down. Finally, they agreed to allow a food company to buy the idea for $5,000 to use as a prize in their cereal boxes. However, Mr. Potato Head was destined for greater things.

Production of a Success Story

Lerner visited Hassenfeld Brothers, Inc. (later Hasbro), in 1953. The Hassenfeld brothers were Henry and Hillel Hassenfeld and they ran a small play kit company. The Hassenfeld’s loved the idea of Mr. Potato Head. This new play kit would be fun. Fun would be a relief after producing Junior Air Raid Kits. The Hassenfeld’s were so enamored with the idea that they contacted the food company and offered them $2,000 to stop production on the toy and another $5,000 as reimbursement for the money they had paid to Lernell Company for the rights. The Hassenffeld’s then signed a new contract with Lerner giving him a $500.00 advance against a 5% royalty on every kit sold.