This also told test is based on a conversation with Rick Woldenberg, CEO of Learning Resources, an educational toy company based in Illinois. He asked the Supreme Court to hear his trial against Trump’s prices. This test was published for duration and clarity.
I was in the middle of an agreement on which I have been working for two years to build a very large building more than 600,000 square feet for our company, and I canceled this project on April 2 after hearing about the prices.
We make educational products for young children to help them take an excellent start in life. We are a fourth generation family business With roots that go back to a hundred years in the north of Illinois, and we have staff of more than 500 people. We also export this country in more than a hundred countries.
We have filed the trial before the District Court of Columbia, and we are now Petition the Supreme Court All about our own money because it is an emergency. The financial burden of these prices and the disruption of our company are catastrophic.
Treasury secretary Scott Bessent said on television that they expect to raise $ 600 billion per year with this invisible tax increase. This represents $ 50 billion per month of us and other companies like us, and finally, from American consumers. Time is essence here.
“ It’s prices all the time ”
Someone told me in our company: “These are prices all the time.”
For months, we have dozens of people working full -time or part -time to approach all aspects of prices. You can barely imagine something more disruptive.
OUR supply chain Entrance to the year was around 60% ChinaAnd we also procure ourselves in Vietnam, India, Korea, Taiwan and Thailand. We do things in the United States and we do assemblies in the United States. We also develop our products in the United States, where we have intellectual property.
We outsource the manufacturing And devote the capital that we have to develop factories, finance our inventory, our receivables, marketing, capital expenses and job creation. So our dollars go further because we are able to draw from companies that are very focused on being exceptional manufacturers which are essentially our partners.
But since the prices, there are no rules, or they change three times a week. We do not know what our costs are, and we generally have 36 hours of notice to change the way we exploit our business. We must disassemble a 40 -year supply chain. There are huge amounts of costs associated with the one that is not recoverable in any way, from the shape or the form.
It is not only annoying – it is extremely difficult to manage our business in a coherent manner.
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The prices disturbed all the plans
Learning resources and Sister Hand2mind society make educational toys to help children acquire basic skills of 18 months in the eighth year. Learning resources
The day I heard about the prices on April 2, I called my broker and I killed my construction contract.
Our company is located north of O’Hare airport in the Chicago region. We are in Vernon Hills, and we were going to reorganize part of our office and warehouse space and consolidate some of our buildings in this brand new building for greater efficiency and have more inventory.
The building does not exist – we were going to develop it. It would not only be a major investment in our company, but it would involve a very large investment in technology, because we organize a very high realization operation. This would create jobs here in Vernon Hills, and it would help us extend the lifespan of our investment at least three decades.
This is the opposite of what the government says that it is trying to achieve. They try to bring people to Invest more in this countryAnd it is a fairly important investment that they have completely messed up. Maybe one day, we can start over, but right now, the project is dead.
In addition to that, we essentially have a sweet Gel hiring. On April 2, I also killed a joint venture in India because we were too tense by the prices. We have greatly reduced our current expenses in all parts of the company. We hang on to a dollar tickets because we do not know when the government will remove them from us.
We pay a lot of real estate taxes. We support local schools, the local fire service and the local police service, and we do business with companies in our region. There are literally millions of children worldwide who use our product each year to help them acquire basic skills of 18 months in the eighth year. Many people depend on us for their livelihoods.
This is why we continued, and that is why we continue this as an urgent question, because we will fight for what we have built.