>>Lol, that is like trying to find the secret to winning the lottery!! face it: labs and most other dogs will shed... alot.
Daily rubdowns with a rubber curry groomer (inexpensive tool often used with horses) can remove the loose hair so it doesn't go all over the house. I groom my three dogs daily with a bedsheet spread out under them to catch the hair.
A warm bath will also help the hair that is about to shed come on out and reduce the mess. Labs do shed a lot, but you can influence where that hair winds up, if you groom daily. Daily grooming also improves your dog's bond to you, responsiveness to you, and ability to cope with unexpected or uncomfortable touch from humans. The habit will result in a healthier dog and lower vet bills as well, since you discover health problems in the early stages when they are easier to treat.
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Kathy Diamond Davis, author, "Therapy Dogs: Training Your Dog to Reach Others," 2nd edition, and the free Canine Behavior Series at www.veterinaryforum.com