Reborn Tech Maniac

Chapter 957 Facing difficulties and expanding Bank of America
Tang Huan frowned, "Are you referring to those people who sold short in Xiangjiang, but ended up falling into the sand?"

"It seems that you have remained calm in the face of the huge personal honor." Warren Buffett nodded. "I heard a news that someone got part of your tax return through some unknown method."

Facing the meaningful eyes of the other party, Tang Huan shrugged, "I don't have any problems with filing taxes."

“It’s better to be careful.” There was a hint in Warren Buffett’s tone that everyone understood. “In the antitrust lawsuit of Zheru Software Company, there have been problems such as controlling downstream manufacturers through subsidies and discounts. Such evidence of unspoken capital operations! If your tax return is involved, no matter whether there is a problem or not, it will be mixed together and have a bad impact."

Tang Huan snorted, "If they think that a stumble in Russia's financial crisis is a helpless 'natural disaster', and failing in Xiangjiang's 'Great Miracle Day' is a 'man-made disaster' that can be settled, then Small tricks are fine, though, and I wouldn't mind having more shows on top of the United States of America v. Philosophy software monopoly case and the deadlocked relationship with Vice President Al Gore."

Warren Buffett adjusted his glasses and said playfully: "Don's anger seems to be getting bigger and bigger."

Tang Huan narrowed his eyes and said lightly: "If this fire, like liquefied gas, is compressed into a small space, it will also cause an explosion."

"No one would be so unprofessional." Warren Buffett laughed, and then changed the topic: "From the financial turmoil from last year to this year, Bank of America not only was not dragged down, but also made a lot of money. You have a unique vision, and you should really take the opportunity to expand. I don’t know, which acquisition target did you take a fancy to for Bank of America?”

"The Bank of Nations is headquartered in Charlotte, North Carolina." Tang Huan asked in a slow tone, "What do you think?"

"It's a smart layout." Warren Buffett praised: "The main business scope of Bank of Nations is on the East Coast, and the main business scope of Bank of America is on the West Coast. If the two can really be integrated, then the new bank's business in the United States will scope, it is ubiquitous."

"I think, not only do I have no reason to object to this plan, but other shareholders will also unanimously support it."

"It's just..." Warren Buffett frowned slightly when he said this, "How do I remember that the Deshaw Fund, which lost 14 billion US dollars in the Russian financial crisis, was a loan provided by the Bank of Nations."

Tang Huan joked: "If it weren't for this, how could Bank of America have a relatively easy opportunity to win the Bank of the Nations."

"That's true." Warren Buffett laughed and said, "It depends on whether other shareholders care about this hole. I think that since Bank of America has firmly supported you from the beginning to the end during the Asian financial turmoil, it should not be affected. be opposed to."

The fact is also true, Bank of America is now the "die fan" of the richest man, especially when he saw the first income worth [-] million US dollars brought back by him, he didn't know what "rejection" was.

Of course, this trust is accumulated over time and success.

Back in the day, Bank of America was hit hard by the Latin American sovereign debt crisis in the mid-80s. As a result, around the "Black Monday" in [-], the stock price fell to $[-]. If it weren't for Mr. Richest, a rookie in the California consortium Don't know what the outcome will be if you sell your assets to survive the crisis, or you will be swallowed by the big fish and the small fish.

And since Tang Huan began to exert an important influence on the Bank of America, the bank founded by the Italians has had good luck, and has never capsized in the gutter again, including the Russian financial crisis last month.

In addition to the magic of "seeking advantages and avoiding disadvantages", the most remarkable thing that the richest man brought to Bank of America is the successful application of IT technology, which helped it establish the world's most advanced banking network.

Today, Bank of America has developed into the commercial bank with the largest deposits in the United States; if it can successfully acquire the Bank of the United States, it will be born across the east and west coasts of the United States, with a total of 4800 branches and assets of more than 5700 billion U.S. dollars giant bank.

Although this acquisition plan is not as earth-shattering as the merger of Citigroup and Traveler Group in early April this year to form Citigroup with total assets of US$7000 billion, it is still enough to cause a stir in the industry.

With the blueprint revealed one by one, everyone dispelled their doubts and decided to act immediately.

For example, Alden Clausen, chairman of the board of directors of Bank of America, used his qualifications as the president of the World Bank to go to the regulatory agency to test; Warren Buffett went to Wall Street through his connections; Personal charisma, contact Hugh Michael, Chairman and CEO of Bank of Nations.

……

A major manifestation of the personal charm of the richest man is the mutual trust foundation he established and maintained early on in interpersonal relationships. The two most important executives of the Bank of Nations, Hugh Michael and Ken Lewis, belong to this kind of one step ahead bedding.

Thirty years ago, the Bank of the United States was just a small unit called the "National Commercial Bank" in Charlotte, North Carolina. It was not until 30-year-old Hugh Michael took office in 39 that Aggressive expansion began.

Thanks to North Carolina's deregulation of bank branches across the state, it took Hugh Michael almost a decade to make NCB the industry leader in North Carolina.

After the time entered the 80s, the Reagan administration implemented "Reagan economics", and all aspects of control began to be relaxed.

Hugh Michael took this opportunity to start his first cross-state acquisition, that is, in 600, he first purchased the First National Bank in Lake City, Florida for US$500 million; Two other banks in the state; totaling $[-] million.

Since then, North Carolina National Commercial Bank has entered a period of rapid expansion through acquisitions and mergers until the end of 1991.Formally formed the National Bank with assets of nearly 1000 billion US dollars.

In this process, Hugh Michael and Ken Lewis contributed the most, the former is responsible for buying, buying, and the latter is responsible for digesting and digesting.

You must know that these two links are indispensable, especially the "digestion" after the acquisition and merger is an intricate project.

After all, the reason why Hugh Michael was able to expand so rapidly was that the target had various operational problems and thus was in a weak position.

In this way, how to rejuvenate these outlets will test the wisdom and execution ability of leaders.

To this end, Ken Lewis learned from the richest man with successful experience and introduced the "Six Sigma" management system; he even sent a number of employees to study at Zheru's internal management training and advanced education center; plus The active use of IT technology has indeed significantly improved the operating efficiency of this bank that has grown through continuous patchwork.

It was also during this period that Hugh Michael, who supported Bill Clinton, and Ken Lewis, who was smart and studious, became close friends with Tang Huan.

Entering the 90s, the Bank of Nations, which has tasted the sweetness of expansion, has acquired larger and larger scales every time, especially in the past two years.

Hugh Michael first spent US$100 billion to acquire Boatman Bank in St. Louis, Missouri in January 2000, bringing the assets of the Bank of Nations to US$50 billion in 150; Acquired the largest bank in Florida, Barnett Bank in Jacksonville, for US$840 billion, and the assets of US Bank increased to US$[-] billion.

However, Hugh Michael's generous expansion this time is a bit out of order.

Gein, after eating two large pieces of fat in a row, the Bank of Nations developed symptoms of indigestion.

The most obvious problem is that the two newly included banks cannot connect smoothly, resulting in a serious degradation of service quality and causing extreme dissatisfaction among customers.

This caused Hugh Michael's prestige to be severely damaged.

House seemingly endless rain.

The Deshaw Fund, which borrowed US$14 billion from the Bank of the States, lost everything because of the Russian financial crisis.

Sometimes, the world is so satirical.

In the past 20 years, Hugh Michael took advantage of the fire to harvest others; now, in reverse, he has become a "weak chicken" being hunted.

You know, the Clinton administration supported by Hugh Michael has given the green light for large-scale corporate mergers and acquisitions in recent years, and Hugh Michael has to worry that his hard work may be due to this convenient background. , Falling into the bag of the most unaccustomed competitor.

Yes, there are circles everywhere.

Compared with Citigroup, JP Morgan Bank and other "family members" staying in New York, the Bank of Nations, which came out of Charlotte, North Carolina, is more like a country boy.

These two types of people are born to be aggressive!
I have to say that Mr. Richest Man, who came to the door in person, once again put on a good show, sending charcoal in the snow and asking for warmth!
After Tang Huan got straight to the point, Hugh Michael's face showed great excitement, and it can be seen how timely the marriage between Bank of America and Bank of Nations was, even hit it off.

The obstacles currently existing between the two parties are mainly human factors.

For example, Hugh Michael has always bought others by himself in his life, and now he is bought by others, whether he can accept it in his heart is a question.

The richest man first started to solve the other party's heart disease, and said tactfully: "Under your leadership, the brilliant achievements of the Bank of the United States are obvious to all, but it is undeniable that in terms of popularity, Bank of America is a well-known name in the world. brand."

Hugh Michael nodded irrefutably. The Bank of Nations is indeed a business scope in the United States, and it is a "rich man" in the eastern region. It cannot be compared with the Bank of the United States. It originally wanted to lend 14 billion US dollars to Deshao Fund. , tried to extend its tentacles internationally, but was so soured by the Russian financial crisis!
Seeing that Hugh Michael recognized this, Tang Huan began to deliver "chicken soup for the soul", and said leisurely: "If the Bank of the United States and the Bank of America can be merged into one, then, although the new headquarters will still be located in San Francisco, the Bank of the States The brand of the bank will be abandoned, but the headquarters in Charlotte can be retained, for example, the investment department can be moved here. After all, the environment here is quite good.”

Having said that, Mr. Richest Man looked directly into Hugh Michael's eyes and solemnly promised: "Furthermore, Bank of America recognizes the successful experience of Bank of Nations and is willing to let you serve as the CEO of the new company." .”

……

With this level of communication, there is no need to repeat the subsequent development.

It’s just that after Warren Buffett heard about this personnel arrangement, he murmured, “Hugh Michael is a bit rebellious!”

Tang Huan smiled slightly, "It's okay, this candidate for CEO is just a temporary transition. In two years, Hugh Michael will be 65 years old. According to our rules, he must retire."

Warren Buffett straightened his glasses and pondered: "So, you have already considered the candidate for the next CEO, right?"

The richest man nodded frankly, "I have observed Ken Lewis for a long time, and he is enough to take on a big job. Now let him be the president for two years."

Warren Buffett smiled, "You've thought it through so well, I don't have anything good to suggest."

"Then it's settled." Tang Huan raised the Coke and lightly touched the other party.

In fact, it is impossible to tell Warren Buffett all the thoughts of the richest man.

Although Bank of America acquired Bank of America because of its business network in the eastern United States, Hugh Michael, Ken Lewis and others are not welcomed to a certain extent by the mainstream forces on Wall Street and the upper class of the banking industry. , which made Tang Huan even more happy.

The personnel arrangement for Hugh Michael and Ken Lewis to successively serve as CEOs of the new Bank of America actually allowed Bank of America, the financial center of the California consortium, to not only maintain a "hard" distance from Wall Street geographically, but also to In terms of corporate culture and other aspects, open a "soft" distance to ensure sufficient independence.

As for the ultimate goal, of course it is better used by the richest man.

……

Under the dizzying operation of the richest man, the new Bank of America, with assets exceeding 5700 billion US dollars, just jumped out.

After that, one can imagine how radiant Tang Huan, who has been making big moves this year, is.

Naturally, once again there are many people who are popular.

It's just that, compared to the scandal that has remained unchanged for thousands of years, this time there is a new program: someone broke out the tax return of the richest man.

(End of this chapter)