The Son of Finance of the Great Age

  Chapter 621 "Time is running out"

  After the Koreans left, Zhong Shi got the news from Jiang Shan immediately. Although the news was expected, Zhong Shi still did not expect that Min Yusheng would use this method to reject Leimen Brothers. But after thinking about it again, the strong national pride of the peninsula countries may indeed cause Min Yusheng to do such a thing, but the high-level members of the Leimen Brothers suffered a lot. After thinking about it, they couldn't figure out why the other party suddenly felt that they were greatly affected. Excited and walk away?

  Similarly, the news of Buffett’s refusal of the Raymond Brothers reached the ears of Soros and others as soon as possible, which made him ecstatic. Originally, Soros and others were not fully sure that they could convince Buffett, but the facts gave him a big surprise. Without the help of Soros, the Leimen Brothers would basically have only half their lives left, so why not allow these short sellers to plunder at will?

This is indeed the case. In the following weekend, the news about the loss of the Korean conglomerate of Leimen Brothers gradually spread. At first, it was just market speculation, but soon more details were revealed. In the end, even Buffett The news of Dick Foud's fainting was leaked to the outside world when he once wanted to attack the Leimen Brothers, which caused an uproar in the market.

For the short sellers desperately shorting Raymond Brothers, the past weekend really made them break out in a cold sweat. They couldn't even imagine that if Buffett really made a move, they would be in a cold sweat on Raymond Brothers. What kind of tragic situation will the position of the company face. Fortunately, none of this happened, but even so, Dick Foud's ability to struggle desperately under the siege of many hedge funds was an eye-opener for them.

It was precisely because of the realization of Dick Foud's great energy that the tone of shorting Raymond Brothers in the market soon began to change, from the previous attack on the internal financial situation of Lehman Brothers to the concern about Dick Foud's personal health. The reader knew very well that if Dick Foud fell at this time, the Leimen Brothers might completely lose the power to fight back.

  …

"Nonsense, you actually said that I have a heart attack?" Dick Fude said with a sneer, "It's just nonsense, why don't they say that I have lost my mind and can no longer be the chairman of the board of directors of Raymond Brothers?" In this way, all their goals have been achieved! Hehe, these damned vultures will do anything to achieve their goals, and it seems that the SEC's interviews have no effect on them."

  Dick Fude fainted only because of his shortness of breath. Fortunately, the secretary found out in time. He was observed in the hospital for twelve hours. After all the indicators were normal, he started working again. At this time, he has no time to rest at all.

  Regarding the SEC's interviews with short sellers, it was reported to them by Dick Foud himself. Of course, he didn't have any real evidence. The SEC recently subpoenaed a group of hedge fund managers for the purpose of asking whether they had violated the rules in the process of shorting Raymond Brothers. Naturally, these people denied it.

Originally, this tactic was intended to be used by Dick Foud in conjunction with the acquisition. The combined effect of the two is definitely more than a simple 1+1, but what he did not expect was that both of his sales double "insurance" failed. There was a fainting scene.

  How did he know that he had been targeted by the two giant financial groups long ago. Now all the self-rescue measures he has taken have been obstructed secretly, so even if he tried his best, it would be difficult to save the overturned giant ship of Thunder Brothers.

"These rumors are insignificant at all. As long as you show up a few times, I believe they will disappear soon." Herbert McDart said slowly, "Dick, there are two crucial issues that need to be resolved now. One is that the government requires us to provide US$5 billion in collateral, which will be tomorrow or the day after tomorrow; the second is about the financial statements for the third quarter. The current calculated loss exceeds US$5.4 billion. The amount of loss is also more than 2.8 billion US dollars. Once these data are released, how to explain to the market?"

"what?"

  Even when he heard the rumors about him just now, Dick Foud still maintained a good demeanor and just countered with sarcastic remarks. But as soon as he heard the two pieces of news from McDart, he couldn't sit still immediately, and immediately charged, "**** is this crazy? Does he want to force everyone to die?"

  Dick Foud was shocked, and couldn't believe what he heard. He asked the company's chief financial officer, Ian Horwitt, "When did this happen? How the **** can you do this?"

  Because Irene Cullen fell into the leak door, she was completely marginalized under the instruction of Dick Foud, and soon this female executive disappeared in the management of Raymond Brothers. She was replaced by Ian Horwitt, a dedicated financial officer. Although not too famous, this man is a talent cultivated by the Leimen Brothers. His loyalty and sense of identification with the Leimen Brothers are far beyond what a professional manager like Irene Karen can match, so Dick. It took little effort for Foud to push him to the throne of CFO.

"Yes, sir." Ian Horwitt's face was extremely ugly, "John Hogan called me a week ago and asked us to add an additional $5 billion in collateral. Because they hold our trading positions, This position is around US$10 billion, after hearing market rumors, they believe that the risk of this transaction is huge, so we need to endorse these positions.”

  John Hogan is the chief risk control officer of **** and is responsible for the risk control of position transactions in the investment banking department of ****. When he realizes that there are risks in ****'s trading positions, it is natural for him to come forward to reduce the risks.

"It's been a week?" If you don't listen to it, Dick Fude is even more furious, "It took me a week to find out about this kind of thing? God, is this still a company where I am the chairman of the board?" ? Has no one thought of reporting such a big thing to me?"

   In the final analysis, what Dick Fude cares about is not pledging assets to **** at this time, but that his control over the internal situation of Raymond Brothers is beginning to lose control. This made him very dissatisfied, and he took this opportunity to get angry at Ian Howett.

   "Calm down, Dick."

While everyone was looking at each other, Herbert McDart had no choice but to stand up and say, "Ian has his reasons for doing this. In fact, I have already communicated with them after the **** issued the notice." .In addition to asking for a delay, I also told them that we are negotiating a sale and asked them to wait patiently. I thought that as long as the sale plan can be reached, all this will be resolved naturally, but now..."

   Having said that, he didn't continue talking. But the meaning has been expressed very clearly. Now that the sale has failed, the problems that had been suppressed immediately surfaced again.

After looking at Herbert McDart and Ian Howett meaningfully, Dick Foud finally calmed down, held his head and thought for a while, "There is only one way to do this, and that is to do as much as possible." Delay. At the same time, we must find a way to put pressure on the government to give up the idea of ​​​​mortgaging real estate, and at worst not to mortgage such a large amount of assets.”

"Regarding this aspect, I will personally communicate with their chairman and the officials of the Federal Reserve." Dick Foud became more confident as he spoke, and he subconsciously exuded a powerful aura, making everyone present The other members of the board of directors gave birth to a kind of inexplicable peace of mind, which is exactly where his personal charm lies, and he will never back down when he needs to take responsibility. They have a clear expectation of our upcoming loss. Furthermore, we must take action again to make surgical changes to the company as soon as possible, so that Raymond Brothers can get out of the current predicament as soon as possible.”

"Dick, according to what you said, don't you already have a plan?" Although Dick Foud spoke impassionedly, Herbert McDart did not have any confidence at all. He would also say these empty words , but does not help the actual situation at all.

  But since Dick Foud was able to say such a thing at this time, it is naturally impossible to be aimless.

"Of course!" Dick Fude replied confidently, "Everyone, don't forget that if we really fall into a situation of doom, I believe the Fed will take action. Have you forgotten the lesson of Bear Stearns before? Even a rotten company like Bear Stearns sold for ten dollars a share, which is a lot, gentlemen."

  According to the current stock price of Raymond Brothers, they only have a mere $15, which is almost one step away from $10. However, compared with Bear Stearns, Raymond Brothers is far superior to its opponents in terms of business level and asset scale. So even if the mess is really out of hand in the end, the Leimen Brothers can still turn to the Federal Reserve to clean up the mess. So Dick Fodder wasn't too worried.

  The most important point is that at this time, Dick Foud still did not think that Raymond Brothers was hopeless, and the word bankruptcy did not even appear in his mind once.

"When the financial statements for the third quarter are released, we have one more thing to announce." Dick Fude finally said, "Strip off the company's non-performing assets, completely restructure the existing assets, and inject high-quality assets into new parts Among them, I hope to be able to sell at a good price.”

  Strictly speaking, this was the idea proposed by the Korean consortium at the beginning, but Dick Foud at the time readily expressed his rejection. But after lying in the hospital for a day, Dick Fude's views changed 180 degrees, because if the real estate assets and other toxic assets of Lehman Brothers were not divested, the entire group might be dragged in.

  The Leimen brothers in front of us, in addition to continuing to look for buyers in the market, their own reorganization is also imminent. Even when necessary, management may brandish the sword of layoffs again. However, these people have never thought about measures such as reducing their own salaries or bonuses.

  …

   It's just the number one problem that Lehman Brothers is currently facing. It's not what they discussed at the board meeting on Sunday, but the media's overwhelming coverage of Leihman Brothers. Because of the rumors of the Korean consortium and Buffett, the Leimen Brothers, who were already on the cusp of the storm, were pushed to a new peak by public opinion, so that all the covers of American financial newspapers on this day were news about Leimen Brothers, and CNBC even dispatched an interview van to stop at the headquarters of Leihman Brothers to track and report the news of Leihman Brothers 24 hours a day.

  Naturally, these news reports on Leihman Brothers are all pessimistic and negative, and the "Wall Street Journal" even made a shocking headline: Leihman Brothers' days are numbered!

   Continue to update! I hope life goes well this month, and this book will achieve good results. Please continue to support me, and those book friends who have left temporarily, please come back as soon as possible, thank you very much! By the way, thanks to book friends Ginseng Yang Rong, Su Dao Duan You, Wei Ting, and Leng Xin Haitao for their monthly votes, and thanks to book friends Time Breeze for their generous rewards, and thanks to James Wukong for their evaluation votes!

  (end of this chapter)