Billionaire Trump donor and tariff advocate is moving his Ohio manufacturing plant to China: report

[In It to Win It]

Cue the sad trombone: Hedge fund billionaire John Paulson — a major Trump donor and advocate of tariffs — is shuttering his Ohio brass instrument plant and offshoring work to China, according to a new report.

Paulson’s company Conn Selmer, the nation's top maker of orchestral and brass instruments, notified employees it will shift most of its East Lake plant operations to Asia by July, triggering about 150 layoffs, The Guardian reported.

Employees were informed of the decision last month, when they expected to negotiate a new union contract, according to United Auto Workers Local 2359, which represents the workers.

The employees said the company unveiled a new plant in China in 2025, and that work has slowly shifted to that location. However, workers in Ohio had previously been told their jobs were not in jeopardy.

Workers there expressed deep dissatisfaction with the decision, with one saying, “It really pisses me off,” while another said they felt “betrayed.”

https://www.yahoo.com/finance/news/billionaire-trump-donor-tariff-advocate-212204669.html

[ColoringFool]

1. Another Excellent Example Of "FAFO."

[tanyev]

2. But, but, but...tariffs! They're bringing everything back to the U.S., right?

[Wuddles440]

3. And I haven't seem any mention of this in the NEO media.

When Biden was in office they (especially some of the CLE television stations) routinely devoted coverage to anything that could even be remotely considered negative about his administration.

[mobeau69]

4. The comments are a good read.

[sop]

5. The Guardian: "Conn-Selmer is a subsidiary of the privately-held Steinway Musical Instruments, Inc. and not

publicly traded, meaning there is no direct, fluctuating stock price to go up or down...The company is moving production from Eastlake, Ohio, to China to improve competitiveness, aiming to reduce costs despite concerns over brand perception...Conn-Selmer is owned by billionaire John Paulson’s firm, which took the company private in 2013...The move involves closing the Eastlake, Ohio facility to shift production of brass instruments to China, a decision driven by a need to cut costs...While the move aims to increase profits by reducing production costs, it has faced criticism for potentially eroding the brand's reputation as a U.S.-made manufacturer, which could affect long-term brand value."

It's all about increasing profits by reducing labor costs.

[orangecrush]

6. FAFO

[Johonny]

7. LOL, brass instrument tariff exemption coming

In four, three, two, ...

[Ritabert]

8. Paulson's mentioned in the Epstein files