Workers decried John Paulson’s plan after billionaire painted himself as advocate for domestic manufacturing
John Paulson, a hedge fund billionaire and one of Donald Trump’s earliest Wall Street backers, is planning to offshore an Ohio manufacturing plant to China despite heavy pushback from employees.
Workers at the plant call the move “a slap in our face”, after Paulson vocally defended domestic manufacturing, and are fighting to keep the plant open.
Conn Selmer, the largest US manufacturer of brass and orchestra instruments, told the union it planned to offshore most work at its Eastlake, Ohio, plant to China by the end of June 2026, eliminating 150 jobs.
United Auto Workers (UAW) Local 2359, which represents the 150 employees, said workers were informed of the closing when it first sat down to bargain over their new union contract last month.
For every job lost due to offshoring, they should pay taxes on their would have been “employees” above the non-existent taxes they pay for making America dependent on foreign labour. If they threatened to leave the U.S. for a tax break, doesn’t matter since America will go and collect said taxes.