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A top toys executive is criticizing President Biden’s plans to save Christmas from global supply chain delays by keeping West Coast shipping ports open around the clock, calling the move ‘too little, too late’.
MGA Entertainment CEO Isaac Larian, the billionaire toy maker behind the Bratz dolls, has warned that the supply chain crisis has gone too far to be remedied in time for the holiday season.
“I think this directive is too small, too late. And frankly, it’s a political stunt for me, ” Larian said on Fox News’s ‘America’s Newsroom’ show on Thursday.wikipedia
His comments came the day after Biden announced that he had struck a deal with unions and business leaders at Walmart, FedEx, UPS and others to expand operations at one of the nation’s largest shipping ports in a bid to ease supply chain bottlenecks that are increasing. consumer prices and emptying of store shelves.
But Larian said keeping ports open doesn’t solve the labor shortage.
“Whether the ports are open 24 hours a day or 48 hours a day, you can’t get manpower,” he said. ‘If you can’t get labor, you can’t get trucks, you can’t get the goods out. And even if you take them out, it will be too late for Christmas. ‘
Larian said his company’s most popular toy, L.O.L. Surprise! MY GOD. Movie Magic Studios: It only meets about 60 percent of its demand from stores in the United States. “That means a lot of kids won’t be able to get their LOL Surprise Movie Magic under the Christmas tree or Hanukkah tree this year,” he said.
‘I have been doing this for 42 years. I’ve never seen anything like this before, ” he added. “And frankly, the administration knew about this and what they are doing is very little, too late to save this holiday.”
He argued that the Biden administration is not doing enough to incentivize people to go back to work. “If you’re paying people to stay home and they make more money just staying home than working, they don’t want to come to work,” he said.
Larian said: ‘I have a solution. There are hundreds of thousands of migrant workers who want to work and we keep them in cages at the border. Let them come to work, set them free instead of feeding them and giving them money to live where they live. . . let them come to work.
White House press secretary Jen Psaki told reporters
But Biden touted the deals with ports, unions and shippers as “a sign of great progress in moving products from manufacturers to a store and to their doorstep.”
His comments came yesterday shortly after White House press secretary Jen Psaki told reporters: “We are not the postal service, not UPS, or FedEx. We can not guarantee. What we can do is use all the levers available to the federal government to reduce delays and make sure we are addressing bottlenecks in the system, including ports and the need for them to be open longer hours.
Once implemented, the proposed changes could increase production by more than 3,500 shipping containers per week, White House officials said.wikipedia
“Traditionally, our ports have only been open during the week, Monday through Friday. And they generally close at night and on weekends. By staying open seven days a week through the night and on weekends, the Port of Los Angeles will open an additional 60 hours a week, ” she continued. “That will almost double the number of hours the port is open to the public than at the beginning of this year.”
Under the new agreement, the Port of Los Angeles will join the Port of Long Beach in working around the clock to alleviate some of the supply chain bottlenecks that affect consumers ahead of the holiday season.
The consumer price index also rose 0.4 percent from August to September, according to data released by the Labor Department on Wednesday. That’s a 5.4 percent year-over-year increase, the highest in 13 years.
While slower than June’s record 0.9 percent rise, it is likely not enough to turn the tide of inflation in time for Christmas.
Together, California ports receive 40 percent of all shipping containers that enter the US.
Long Beach expanded its operations to 24 hours, seven days a week last month. Now, Port of Los Angeles officials and union leaders have agreed to add off hours at night and on weekends to help lower consumer prices as well.
Goods in the Port of Los Angeles move 25 percent faster at night than during the day, White House officials said.
They argue that expanding to night operations would help lighten the load on other links in the supply chain by easing traffic congestion during the day.
As of Monday, there were 62 ships docked at the two ports and 81 waiting to dock and unload, according to the Marine Exchange of Southern California.
Supply chain problems have hampered the economic recovery from the coronavirus pandemic and are closely related to the broader inflation challenge facing Biden.
Donald Trump targeted his former rival on Wednesday in a statement in which he poked fun at the multiple crises facing Biden, including rising consumer prices.
‘COVID is out of control, our supply chains are collapsing with little product in our stores, we were humiliated in Afghanistan, our border is a complete mess, gas prices and inflation are rising rapidly, how is Biden doing? Do you miss me already? ‘ said the former president.
White House officials estimate that more than 3,500 additional shipping containers per week will be shipped overnight through the end of the year.
Yesterday, the White House warned shoppers that popular children’s toys could be out of their reach this Christmas as Biden and Congressional Democrats fight to reverse the economic downturn.
Stores across the country have become increasingly sterile thanks to a number of bottlenecks in the global supply chain.
Many products that are made in China, such as toys, clothing, household appliances and more, are trapped in factories there or in containers aboard cargo ships off the coast that are waiting their turn to dock.
In almost all the links of the chain there is shortage; There are not enough shipyard workers to unpack the cargo onto the ships quickly enough, nor are there enough drivers capable of transporting them overland. In stores, retailers don’t have enough workers to unpack them once they arrive.
It has created a nightmarish economic scenario in which demand for goods far outstrips supply, driving inflation and in turn driving up prices for Americans.
Republican lawmakers have frequently criticized Biden’s $ 1.9 trillion coronavirus aid package for pushing prices higher.
A recent analysis issued by investment bank Goldman Sachs estimates that ‘limited supply goods’ account for 80 percent of this year’s inflation overshoot, yet political criticism continues to sting as house prices and oil add to inflationary pressures.
The Biden administration has argued that higher inflation is temporary. However, supply chain problems have persisted for months after the economy began to reopen and recover after vaccines reduced many of the risks of the pandemic.
Isaac Larian Quick and Facts
- Isaac Larian, the billionaire toy maker behind Bratz dolls, said that President Biden’s plans to address supply chain shortages are too late to save Christmas
- Biden announced yesterday that major West Coast shipping ports would be running around the clock to ease bottlenecks in the system
- Larian said that opening the ports does not guarantee enough people will return to work to get products on shelves
- COVID-caused delays in the global supply chain have produced shipping bottlenecks that have meant empty shelves and higher prices for Americans
- Parents have been warned that many toys could be out of reach come Christmas