Chapter 972

Today was the last Friday in May. There was already a sea of people in front of the Vienna Stock Exchange.

The Austrian Securities Law clearly stated that listed companies had to publish their financial statements every three months, which was the following month.

Because companies went public at different times, the release of financial statements was not the same. At the end of each month, many companies would publish financial statements.

Friday was a closed stock market on Saturday and Sunday. It would give the market time to react, so that investors wouldn't be impulsive and sell their shares.

If it was good news, there was no need to wait until the end of the month. It could be announced at any time.

The financial statements of companies would also be published in financial newspapers, just a few hours later than the time of the Stock Exchange. There weren't so many people in normal times.

Now was obviously an exception. In the past few months, there had been strikes all over Europe, and the performance of the companies that went on strike was naturally not good. Everyone was mentally prepared.

Maldonado was also one of the investors. Normally, he didn't look at the stock announcements. It was Friday anyway, and even if he looked, there wouldn't be enough time.

Today was an exception. The Daker textile factory, which he held the most shares in, was going to release its financial statements. Deep down, Maldonado was already hoping that the Daker textile factory would lose less money.

It couldn't be helped. He was already trapped. Since the outbreak of the strike, the stock price of the Daker textile factory had been falling, and there were more selling than buying.

The stock price didn't fall to the bottom because the Daker textile factory was large and had a supporting industrial chain. It was strong in risk resistance, so investors were still confident.

Looking at the crowd, Maldonado decisively entered the cafe opposite the door and waited. As soon as he entered the third floor, he heard someone greeting him.

"Maldonado, over here!"

Maldonado responded and walked over. "You're all here. It seems that today's results aren't optimistic."

These people were old friends who had met in the stock market. They had been in this industry for many years. Only when the market wasn't optimistic would they gather here to wait for the company to release its financial statements.

A bald middle-aged man grumbled, "Damn it, can't you say something nice? Even if it's just fooling around, it's better than being so direct. "

Maldonado shrugged. "Forget it, Cullen. It's not easy to fool you. If you were optimistic about today's stock market, you wouldn't be here today. "

Obviously, the two were already very familiar with each other and spoke very casually.

As individual investors in the stock market, they only seemed to be doing well on the surface, but in fact, they were on tenterhooks every day, not daring to relax at all.

Just by looking at their hairlines, one could tell that they were often of worry.

An old man next to him pointed at the exchange across the street. "It seems like it's already announced.

As experienced investors, they had their own way of distinguishing between the two. For example, now that the others were still squeezing below, they could tell from the reaction of the crowd here.

Time passed quickly, and the coffee on the table was already cold. Of of of of of. of the day of Day of Town of Cities of

At this time, they realized that it was not only individual investors like them who appeared together with them. There were also some 'big shots' in the circle. Obviously, there were many people who paid attention to the financial report of the company.

With a perturbed heart, Maldonado looked at the financial report of Daker Textile Factory. Looking at the 'loss of 1.248 million' marked on it, he closed his eyes, unable to look at it anymore.

The reason was no longer important. This astronomical loss had far exceeded his expectation. The only thought left in his mind was to cut off the losses.

Last year, Daker Textile Factory's annual profit was less than 1.5 million DND. Now, with this loss, it could be said that Daker Textile Factory would not be able to even out the loss this year.

Maldonado could already hear people cursing and berating the management of Daker Textile Factory for being retarded and not being able to be flexible.

…

If he had a choice, Old Llanor would not be willing to announce the financial report at this time. But he had no choice. Not only would he be fined for not announcing the financial report on time, but he would also be investigated by the regulatory authorities.

Not many companies could withstand the investigation, and Daker Textile Factory was no exception. Anything that was found could be a fatal blow to the company.

There were too many eyes on them now. Even a small problem could be magnified. Even Old Llanor did not dare to falsify the financial report.

After going on strike for more than a month, it would be unreasonable if the company did not suffer losses.

The number of shipments, the total amount of transactions, the amount of taxes, these data could be checked. It was not easy to falsify.

In theory, one DND of goods could be sold for 10,000 DND. This was allowed by law. However, the company had to pay taxes based on the transaction amount.

If the transaction was far above the market price, the goods would become luxury goods and would need to pay luxury tax. This tax rate was much higher than ordinary taxes.

In theory, as long as the company was willing to spend money to boost its performance, it was very easy to turn losses into profits. In reality, such fools did not exist at all. The cost of falsification was too high, far beyond the limits of capitalists.

Affected by the bad news of Daker Textile Factory's heavy losses, the Vienna Stock Exchange welcomed a wave of selling as soon as it opened.

The exchange only saw orders being sold, and no one took over. Naturally, the stock price plummeted. By the end of the afternoon market, Daker Textile Factory's stock price had fallen by 14.7%.

It seemed that this drop was acceptable, but in fact, this was the nth time the stock price had fallen since the outbreak of the Daker Textile Factory's strike.

The stock price had already hit rock bottom, and after another drop, the market value of Daker Textile Factory was only 63% of its peak.

The stock price was not only falling in Daker Textile Factory, but the stock prices of all companies were affected, especially the companies that had gone on strike.

Investors believed that the companies that had gone on strike would suffer heavy losses, just like Daker Textile Factory.

In a market economy, a slight move would affect the whole body. Once the production of a company was affected, the upstream raw material supply and downstream sales channels would not be able to escape unscathed.

The drop in stock prices was also contagious. Many companies with good performance also suffered from the unexpected disaster. By the end of the day, the Vienna Stock Exchange as a whole fell by 4.2%, and the market was wailing.

Affected by the adverse market factors, the Vienna Stock Exchange continued to collapse in the next few days. Many companies' stocks directly fell to the price of cabbages. The stock disaster had officially arrived.

By the end of the day on Friday, the Vienna Stock Exchange had fallen by 11.8%. In just five days, the Austrian stock market had lost hundreds of millions of DND.

The stock disaster had arrived!

Under the influence of the newspapers, the news of the Vienna stock disaster quickly spread throughout Europe. Smart investors sold their stocks at the first opportunity.

With the development of the economy, the European economies were becoming more and more interconnected. With the Austrian stock disaster, the European countries could not remain unscathed.

A strange scene appeared. Whether it was London or Paris, the stock market continued to sell, but there were very few buyers. No matter how the experts and scholars advocated, the stock market kept falling.

The "rescue" became another hot topic after the "strike", but before the "rescue", the strike problem must be solved.

If the company could not resume production, how could the stock price be guaranteed? The capitalists were anxious. Only a small number of people were qualified to be sheared in the stock market. Most people were sheep that were sheared.

In order to resume production as soon as possible, the capitalists also showed their skills.

Some capitalists chose to negotiate and compromise with the workers; some capitalists chose to bribe and disintegrate; some capitalists directly let thugs arrest the families of the workers and forced the workers to work; some even took out Gatling guns, strafed the strikers, and used bloody massacres to force the workers to return to work …

A variety of divine operations continued to play out on the European continent, bringing laughter to the people, but also full of blood.

Where there was oppression, there would be resistance. The bloody massacre not only brought about resumption of work, but also continuous worker uprisings.

Chaos, complete chaos, the entire European continent was in a mess. All kinds of messy ideas took the opportunity to spread quickly, and for a time, gods and devils danced.

Looking at the chaotic situation in the Palace of Vienna, Franz also had a headache. The Government of Vienna intervened early, and there was no large-scale workers' uprising in Austria, but the stock disaster was enough.

Affected by the stock disaster, many companies fell into a predicament of lack of funds. If it was not solved, it was likely to cause a new round of economic crisis.

If it was only a lack of funds, it was easy to solve, and they could seek a bank loan. However, these companies with insufficient funds still had a lot of problems.

For example: chaotic management, unresolved strikes, conservative business ideas, old machinery and equipment …

The messy problems gathered together, and the bank naturally came to a conclusion: high-risk business.

When the market was good, the bank naturally didn't mind high-risk business. High risks were often accompanied by high returns. As long as the benefits were big enough, the bank would not lack the spirit of adventure.

The situation was different now. The stock disaster broke out, and many of the bank's businesses were implicated. Most banks were tightening their money supply.

Not to mention high-risk business, even low-risk business loans were difficult to do. The bank would not accept a loan without collateral.

Franz also couldn't do anything. He couldn't let the bank lend when he knew there was a problem, right?

If he played that way, it would not solve the crisis, but prolong the outbreak of the crisis.

It was indeed good for economic development in the short term, but in the long term, it would drag the national economy to hell.

Counting on these companies to be reborn? Franz felt that it was better to push it to reconstruction. At least the cost of investment would be lower, and the consumption of social resources would be less.

Survival of the fittest was the law of the market, and the Austrian market was not infinite. While saving these companies, they also sacrificed the interests of some similar companies, which essentially broke the principle of fairness.

…