Bulgarian Empire

Only two days have passed, and the news of Bulgaria's failure in the million-kilometer road bidding conference has spread throughout the world. Many newspapers have described the Bulgarian government as a farce of the century.

Including the five companies that signed up before and then gave up, all were exposed. Of course, the consortium behind them is still in a state of diving, and the media still knows who not to mess with.

For some unknown reason, these companies have announced their own budgets for the cost of engineering projects, and there is no doubt that none of them is less than 100 billion levs.

For example: The London Daily published a comment saying that the Bulgarian government officials failed in mathematics and only scored 50 points in the test when they were studying, so the final cost was also discounted by 50%!

The Sun Times commented that the Bulgarian government has been overwhelmed by bureaucrats and has been derailed from society!

The Paris Morning Post commented that this is a farce of the new era. Officials of the Bulgarian government have not yet woken up, and they have become so frantic for political achievements that they ignore reality!

...

The foreign newspapers were full of curses, and the domestic newspapers had nothing good to say, but everyone was about to restrain themselves a lot, and just arrested the Ministry of Communications for accountability and asked them to give an explanation.

Beshear did not disappoint everyone, and directly published a letter of apology in the Bulgarian daily, announcing the main reason for the huge cost budget gap.

The government budget does not consider the time cost of funds, and this road construction plan is expected to take decades to realize profitability. Considering the time cost of funds, the final investment will be very different!

As for the secondary reasons, I will just mention them briefly and mention them a little bit. Anyway, everyone still has this basic common sense.

At present, the average profit rate in Bulgarian society is still at a relatively high level of 20%. If we use this as a benchmark to estimate the time cost of funds, this project is undoubtedly a loss to grandma’s family!

Even if the time cost is based on bank interest, it is an astronomical figure. The public probably understand why the cost gap between government and enterprise accounting is so large!

Government investment itself does not consider funds. This time it suddenly became an enterprise investment. Everyone's thinking did not change, which eventually caused this farce.

After figuring out the farce, the Bulgarian government also revised the bidding conditions again. Of course, the final cost of construction has not been announced. A big oolong just appeared. Before figuring it out, everyone chose to deal with it cautiously.

The funds still need to be fully borne by bidders, but the government’s support for the project has increased. In addition to the profit point of gas stations, capitalists are also allowed to add billboards, open small shops, restaurants, hotels...

However, there is also a quantity limit, and the number cannot exceed the number of gas stations. In principle, the location is selected to operate within 200 meters and 500 meters from the gas station.

Before the road project is profitable, these commercial facilities will also receive tax-free support from the government.

Don't look at the addition of a lot of preferential conditions. In fact, the number of bidders who came to sign up has not increased. The cabinet had to come forward to do the work of the only two bidding companies.

Then on January 10, 1922, the day before the bidding meeting started again, the Bulgarian Road Construction Group Company and the Bulgarian Road Group Company announced their merger to form the Bulgarian Infrastructure Investment Group, and the two parties will jointly operate this project!

This news shocked a lot of people, isn't it said that this is a huge pit project? Why would anyone jump into the pit?

Moreover, this kind of merger in the bidding project is also a violation of Bulgaria's bidding law, which has constituted a crime. Isn't it courting death to announce it so aboveboard?

The mystery was soon revealed. On January 11, 1922, the negotiations started again. At the beginning, Besir said: Today I want to announce an important news. , Due to our work mistakes, it has caused very bad social impact!

At the same time, I must also apologize to all bidders,

Our mistakes have brought them serious economic losses. All bidders on this issue can later apply for administrative error claims from the government.

The cost of this million-kilometer road plan has been recalculated by the government department, and it is finally found that the total investment has exceeded 120 billion levs, and there is no possibility of profit for this project!

Friends from the media in the society accuse our officials of the Ministry of Communications of not considering the consequences for the sake of political achievements. I do not agree with this point of view. Now that this plan has been proposed and passed by Congress, we must implement it. .

After the government's research and decision, we decided to change this project into a public welfare investment project, and gather the strength of our entire Bulgarian society to implement this great strategy!

So now you don't have to question why our two bidders merged. To operate this project, it is only possible for everyone to unite.

So today's bidding meeting can be announced to end early, and now it can be changed to a press conference!

The cooperation between our Ministry of Communications and the Bulgarian Infrastructure Investment Group is no longer a commercial project, but a public welfare project!

Next, let us implement the project, Mr. Howell, the president of Bulgaria Infrastructure Investment Group, come up and say a few words!

As soon as I finished speaking, the media were blown away. Is there still such an operation? Who is willing to invest huge sums of money for a public welfare project without seeking returns?

Soon, Howell, the new president of the newly established Bulgarian Infrastructure Investment Group, stepped onto the rostrum. He took the microphone from Beshear in a personable manner, and then said: Mr. Beshear has explained the situation just now. I repeat it here.

Since the investment in this project is too large, the rate of return is too low, and even the cost may not be recovered, so commercial operation is already impossible.

Any successful enterprise must have a sense of social responsibility. This is a traditional virtue of our Bulgaria, and our generation must also pass it on!

That’s why I stood up. The importance of this project to Bulgaria is unquestionable. Once the Great Highway Project is completed, the entire Bulgarian Eurasian continent will be closely linked together, and people’s travel will become easier. Convenient, commercial logistics costs will be greatly reduced...

With so many functions, the times do not allow us to give up this project!

Although this project is not profitable, our company still intends to continue. This is thanks to the shareholders who support me behind the scenes. Without their support, I, the president, would have no money to invest!

At the same time, I would also like to call on more people to participate in this project, gather everyone's strength, and accomplish this impossible feat!

As the president of the company, I have started to raise funds from the society. First of all, I declare: I promise here that this project will never make a profit. I cannot guarantee your return on investment!

Secondly, even if this project can make a profit in the future, after everyone gets back the principal, all the profits will be used to transform the desert, for example: to plant trees or grow grass!

In short, I will not use it to distribute dividends to you. Don't expect this project to make money. Even your principal will be squandered by me, an incompetent president!

Howell's domineering declaration once again stunned everyone! Many people are thinking, is he here specifically to tear down the stage?

Having said that, will anyone continue to invest? This is 120 million levs. Where can I fool so many fools into sending money?

Soon there was thunderous applause on the field. There is no doubt that this must be the applause from the Bulgarian side. Overseas reporters watched all this in astonishment.

They looked at Howell on the stage with pity. Once the operation of this project failed, he, the high-spirited president, wondered if he would be invited to eat peanuts?

After a while, everyone recovered from the news, and the New York Times reporter asked, Mr. Howell, where did you get the confidence to complete this plan? You know, it's more than 120 billion levs. That’s more than half of Bulgaria’s GNP last year, and who’s going to give you that money?”

Howell replied without changing his face: All the people of Bulgaria have given me this confidence. With their support, it will not be difficult to complete this plan within ten years!

A reporter from a Bulgarian daily also asked: Mr. Howell, I believe that the people of Bulgaria will support this plan, and in fact I myself support this plan.

But what about the funds? As far as I know, our Bulgarian people are not that rich, more than 120 billion levs, even if it is apportioned per capita, it is more than 3,000 levs.

Ordinary people may have to work continuously for three years to get so much salary, and they also have to live. If they are asked to spend this money, perhaps all their income for the past ten years will be paid out!

You're not going to let the Bulgarian people pay out of their pockets to support this project, are you?

Howell replied with a smile: Of course not. Have you ever heard a sentence from His Majesty the King - 'With great power comes great responsibility'?

The reporter nodded and said, Of course, many of His Majesty's words are very philosophical!

Howell continued to explain: In this case, you can understand the source of our funds. In fact, all shareholders in our company have raised 10 billion levs.

In addition, we plan to issue a batch of construction bonds to the public, and now the three major banks in Bulgaria have decided to support this plan. They will help us issue bonds for free and promise to give us the best loan interest rate.

Of course, the interest rate of the bond is very low this time, the interest rate is the same as the deposit interest of the bank, and the security of the bond will be guaranteed by the bank. Even if it is not due, the principal can be exchanged in the bank in advance, which is different from our previous Same as national debt!

A reporter from the Bulgarian Daily asked in surprise: Oh, is this true? So the funding of our project is no longer a problem?

Howell jokingly said: Of course it is true, if there is not so much good news, I would not have the courage to operate this project!

To know once this project fails. The people of Bulgaria can't spare me, I don't want to be beaten in the street by sap!

...

Although it was not regarded as a joke by the Bulgarian government, the media are still satisfied. Today's news is really shocking. Who would have imagined that an investment of more than 120 billion levas would be carried out for charity? operation?

What is even more unbelievable is that there are still capitalists willing to invest in it?

The concept of corporate social responsibility is not new, and everyone knows that it is a Bulgarian invention!

It may be the relationship between water and soil. Once you leave Bulgaria, the sense of social responsibility of the enterprise is gone!

As for the reason behind this scene, everyone is too lazy to study it, just make it up, anyway, they are not a Bulgarian newspaper, so they don't have to be responsible for the authenticity!

If they really found out the reason, they would not dare to publish it. The capitalists of this era are not easy to mess with!

Inviting people to eat peanuts is just a small problem. If you are in a hurry, you have to hire someone to make a dirt plane. That is a family that will ascend to the sky together!

There is no doubt that this public welfare operation is naturally created by Ferdinand. As for the source of funds, it naturally relies on bank loans.

Although the total investment is as high as more than 120 billion levs, in fact, it is only 12 billion levs per year after apportionment, and this is still an inflated cost.

Just like Howell announced that the shareholders of the company contributed 10 billion levs, so could Ferdinand really spend 10 billion?

After being divided into ten years, it is only one billion levs per year. The profit he obtained through this project is not only one billion levs per year?

Raw materials have been laid out in advance. After this project is completed, how can there be a profit of 18 billion? If you calculate the loan profits of related upstream enterprises and banks, this number will be even greater.

As for why it should be changed to a public welfare operation and give up huge profits in the future? Ferdinand is also very helpless, he is afraid of being exposed!

You must know that this kind of monopoly enterprise is the most hated. When cars become popular in the future and the price of oil is high, can these people not scold the enterprise?

Driven by curiosity, someone will always check the inside information of this company. What if someone finds out that the mastermind behind the scenes is actually the royal family?

Once it is changed to a public welfare operation, it will be different. No matter how much the company earns in the future, the public will not have any opinions. Car exhaust pollutes the environment, and you are charged an extra part of your gas money to plant trees and green the earth. Is this a problem?

Although a large part of the profit has been lost in this area, the profits of other industries are still there. As an oil supplier that monopolizes more than half of the world, Ferdinand is not short of money, so why should he take the money?

Besides, there are so many deserts in Bulgaria, even if the extra fuel cost per car is averaged, only a hundred saplings can be planted. If there are 10 million cars in Bulgaria after 20 years, that is one billion One tree will reduce 2,000 square kilometers of desert every year.

Accumulated over time, it is not a small number. If the population of Bulgaria exceeds 200 million in the future and the number of vehicles increases to 100 million, then it is equivalent to an increase of 20,000 square kilometers of land every year. This account is still very cost-effective of! (calculated according to the proportion of European car ownership in the 1980s)

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