Born: It had some downsides, but in 15 years Wolf had never had reason to worry that the company's proprietary design drawings and tooling were half a world away, under someone else's control. By 1953, annual revenue had reached $32 million and Lionel had become one of America's most beloved and recognized brands. For a time, all MTH people wore black shirts at train shows. Model railroading sells a kind of gauzy, nostalgic innocence, but people in the business have always played rough. Simpson case of the model-railroad industry," says Fred Hamilton, executive director of the Model Railroad Industry Association, a trade group. Currently We don’t have enough information about his family, relationships,childhood etc. "We're going to lose six figures," says Wolf. "I'll tell you what I think and tell you how I feel. The industry counts on two sometimes overlapping breeds of train buyers: modelers and collectors. He parked an unlocked Ford Falcon in front of his house as his mailbox. An internal memo noted: "Prior to Wellspring's purchase of Lionel, the company had not invested substantially in new tooling, and had no ability to do so. Depay has an estimated net worth of $8 mіllіоn as of October 2020. Wolf traveled frequently to Lionel headquarters in Chesterfield, Mich., and began taking part in product and marketing discussions. He did so in early November, at which time he denied all of Lionel's post-trial motions, including an ongoing request that the verdict be dismissed for lack of evidence. And prosecuting Lionel would not be easy. It approached MTH's manufacturer, Samhongsa. Like a lot of companies, MTH had reached a certain size and realized that irresistible advantages lay in moving manufacturing overseas. the official stats partner of the NFL. Copyright © 2000-2020 Sports Reference LLC. Data Provided By Modelers typically work in HO-scale, while collectors tend to focus on O-scale, which, at one-48th the size of an actual train, is twice the size of HO. He knew, however, that he was fortunate to be making his case to this jury. Actor. But there are other scenarios, some of which involve the loser of a devastating trade-secrets judgment outlasting the winner. Where this will end isn't clear. He slept each night surrounded by boxes of inventory. Unoccupied desks make some departments look like ghost towns. When he looked up from his sheet of paper and a number in excess of $40 million, he turned to the jury and mouthed the words: "Thank you. Pro-Football-Reference utilizes Official NFL data for current NFL seasons. Wolf had closed the gap by offering innovative products and lower prices, but most important, he made better trains. In truth, he wanted more. Near the top of the hill the MTH engine hit a sensor that cut the power. "Everybody's supposed to be doing it for fun -- nobody's supposed to be mad at anyone else, nobody's supposed to sue anybody else. Lionel Vital . As of October 2020, Lionel Messi has an estimated net worth of around $450 million. He was ranked by Forbes as the second-highest-paid athlete in the world in 2018. Cheaper trains and a disastrous relocation of production facilities to Mexico followed, moves that alienated longtime customers and opened the door for a small niche player called Williams Reproductions to manufacture tin plate reproductions of old, discontinued Lionel models. Subscribe to our Free Newsletter, This Month in Sports ReferenceFind out when we add a feature or make a change. Another e-mail from Yang to Grubba said: "By the time MTH realizes what is happening, the game should be over...We know exactly what the other camp is doing.". Then the court clerk came to question five on the verdict form -- the amount of damages the jury chose to award MTH for past lost profits and future lost profits. A report from model railroading's trial of the century. He's been fueled over the last 10 to 15 years out of a sense of vengeance. Wolf says he's cut his own salary from $195,000 to $35,000 a year and has sold off much of his personal train collection. Among the first wave of boys who hammered rivets and painted trim lines was Mike Wolf, who started at age 12 in 1973 and has been in the business ever since. "So we were known as the men in black, the bad guys," Wolf says. in New Iberia, LA, Weighted Career AV (100-95-...): 3 (11063rd overall since 1960). He faced what I faced when I went to work at Lionel -- a very entrenched bureaucracy. "The Dash-8 came about because they weren't giving me any more orders [for reproductions]," he says. ", Those last four words, especially, stuck in Wolf's craw. We have tools and resources that can help you use sports data. Indeed it did. And to Wolf, founder and owner of MTH Electric Trains, they were all too familiar. By any reckoning, those were smoking guns. Now he realized how vulnerable he'd become. The harshest sentence was a jail term of several months.) For future profits: $13,794,518. Taking advantage of bankruptcy protection will not only allow us to pursue an eventual reversal of this unfair decision, it will enable us to create, manufacture and ship our products in our normal and usual way. And, except for a brief, call-all-the-employees-together meeting, no celebration to speak of. It makes him one of the wealthiest footballers in the world with a weekly salary of €85,250. "And, man, this thing looks just like yours.". He was able to continue only because his law firm felt confident enough of the outcome to work on contingency. Even when he's at home in his own backyard, Mike Wolf, who has been in the business of model trains for more years than he's been shaving, cannot get away from this industry train wreck. Wolf, emulating his hero, Joshua Lionel Cowen, rattled the industry with a barrage of aggressive comparative ads -- and a provocative demonstration at the next York train show. Read More. Lionel, he thought, had gotten too good, too fast. Lionel Logue Net Worth. The number dropped to $7.8 million in 1998, $6.2 million in 1999, and less than $1 million in 2000 -- as Lionel, he testified, competed with him model by model, using his own drawings to flood the market, intent on putting him out of business. When Williams decided in the mid-'80s to sell part of his business, Wolf was his buyer of choice. Again, Yes. Lionel is a sound company that enjoys healthy sales, growing demand for our products and the best brand and reputation in the business.