The Man in Power After Being Married into Her Family
Chapter 3511

At this moment, a young man spoke up and said, "I can understand holding the ancestor worship ceremony once a year, but why do you want us to come to Eastcliff for a debriefing and to report to you once every three months?"

Charlie asked him rhetorically, "You're taking the resources of the Wade family and earning the Wade family's money. So, what opinions do you have now that I'm asking you to report on your duties once every three months?"

The young man hurriedly said, "Our family has already moved overseas long ago, and we have gradually shifted the focus of our business over the years. The business that we are currently operating overseas has nothing to do with the Wade family anymore." Charlie nodded and asked him, "What is your name?"

The young man replied, "My name is Theodore Wade."

Charlie nodded slightly and said, "Okay. Let me ask you, what business does your family run overseas now?"

Theodore hurriedly said, "We produce and sell Oskian-style furniture for the whole of Europe, mainly for Oskian customers, and our production location is in Romania."

Charlie frowned and asked, "Why do you want to produce Oskian-style furniture in Romania?"

Theodore replied, "It's mainly because Romania has very high timber production, and their labor costs are relatively cheap."

Charlie asked again, "How many workers do you have in Romania, then? What is the annual output value?"

Theodore thought about it for a while and said, "We have approximately ten thousand employees in Romania with an annual output of about two billion euros and a net profit of about 20%."

Charlie nodded and said, "In that case, you have a net profit of four million euros a year from this business alone."

"That's right." Theodore said, "A few years ago, our production base was still in Oskia, and I was the one who suggested for my family to move the production base to Romania."

Charlie asked him, "Since the production base was placed in Oskia, why did you suggest moving it to Romania, then?"

Theodore explained proudly, "We

originally produced the furniture in

Oskia before selling it in Europe. Although the logistics cost was much higher the overall profit margin was still a little higher as compared to now because of the relatively cheap domestic labor However, five years ago, I had a hunch that the European Union would definitely continue to increase the tariffs on foreign products and other taxes in the future. In that case, our product would then lose all advantages in the European market, and our profit margin would decline sharply. I did not guess wrongly. The European Union has indeed been increasing tariffs on imported furniture, and ever since three years

ago and so far, it has increased by at least 40%!"

Charlie nodded and said, "You were able to continue avoiding Europe's tariff policy on foreign countries after moving your business to Romania, right?"

"That's right!" Theodore explained,

"When we moved our production base to Romania, we also

re-registered a company in Romania, da which is equivalent to converting our products into local goods produced in Romania. Since Romania has also joined the European Union, the

whole European market will give

great preferential policies to

Romanian products, and we are also

able to effectively enjoy these

preferential policies."

"With lower tax costs, our prices can be lower, which also allows us to have more sales. So, our overall profit margin is also more impressive. In contrast, those other companies which have been producing Oskian-style furniture domestically in Oskia and selling them to Europe have suffered heavy losses."

Charlie smiled and said, "It seems as though you're quite good at business."

Theodore said confidently, "Of course. I finished my bachelor's degree at Yale University at the age of twenty, and I also finished my MBA in two years. I've also been involved in the operation and

management of my family busine

since I was eighteen. I dare not say that I'm a genius in business, but I'm definitely much better compared to most entrepreneurs who can only talk about it on paper."

Charlie nodded slightly. After that, he smiled and spoke up, "In that case, you don't have to go back anymore this time. You should stay in Oskia to help me. At the same time, I can also test you and see if you're really that capable!"