The board of directors of the same car company held an impromptu meeting. All the directors were present because the company's CEO, Malfoy, had brought back important news.
They all knew that Malfoy had gone to see the CEO of Wind and Rain Holdings, Ralph. He must have brought back good news. Now, all these big businessmen knew that Wind and Rain Holdings had too much money to spend.
If you said you didn't know, it proved that you weren't a big businessman.
"Malfoy, what's the situation? Tell everyone." Saul, the chairman of the same car company, had a neutral expression on his face.
Malfoy nodded and said loudly, "Everyone, you can see that there are two documents in front of you, right? The one with the red cover is our offer, and the one with the blue cover is the offer from Wind and Rain Holdings.
"Feng Yu Holdings' offer is very simple. Wind and Rain Holdings agrees to buy some of our assets in cash. Note that it's all cash. There's no need to pay for shares, and there's no delay in payment. The offer is much better than what the previous two companies offered.
"But at the same time, the assets they want to buy are all our high-quality assets, including Chevrolet, Buick, and other brand assets. They have no interest in the brand assets we want to get rid of.
"The current situation is that our same car business has been seriously affected. After we were attacked, in order to stimulate sales, we offered consumers a five-year zero-interest loan. In the following years, we continued to expand the number of models and brands sold in this way. We also proposed more preferential measures. "
"In the first few years, our sales skyrocketed, and we firmly occupied the throne of the world's top car company. We were recognized as the world's top car company. At that time, our mutual finance company will also be able to provide high profits for our company through credit and investment. "
"But when we decided to enter the real estate credit field, we did too much. Like some other real estate finance companies, we issued too many subprime loans, which left us with too much risk.
"This is different from cars. The price of cars is far lower than that of houses. Although there are many cases of failure to repay the loans, the losses are not big. The profits of our finance company can completely cover this part of the loss.
"But real estate is different. The loans for real estate are higher, and the situation of people unable to repay their loans has become more serious since last year. The proportion of bad debts has increased, and our strongest credit company, Tongyong Finance, is also making losses. As for those mortgaged houses, because of the depreciation of the houses, we are unable to recover our investment. "
"Back then, I didn't agree to enter the real estate lending industry, but no one on the board supported me. I don't want to talk about the past anymore. If we want to get through this, we have to sell some assets or shares. My personal opinion is that we should sell it to Wind and Rain Holdings Group. As for which assets to sell, we still have to discuss it. "
Malfoy talked about some of the company's difficulties, and at the same time pointed out that these difficulties were not caused by his poor management, but the result of the decisions of the board of directors. He was only the CEO, a senior employee.
He also did not say his final decision, but threw the burden to the board of directors. As for what the final decision was, he only had the right to make one suggestion at most. Once the board of directors made the decision, he just had to execute it.
After hearing Malfoy's words, some of the directors looked unhappy. Was Malfoy criticizing them? He was just a CEO, and yet he dared to criticize them.
However, they heard that Chairman Saul intended to nominate Malfoy to the board of directors as an executive director. Perhaps this was where Malfoy's confidence came from.
None of the directors thought that using cars together would not be able to get through this crisis. It was because they were using cars together, the world's number one automobile group!
Of course, they also knew that some brands were indeed not making money, and they were losing a lot of money. Back then, they had expanded too quickly, and now they realized that they had overdone it.
Getting rid of some non-performing assets and carrying out some restructuring was something that many large companies had experienced, including many companies that were not losing money. Using cars together had always had this idea.
However, no one was a fool. Who would be willing to take over those non-performing assets? They could only think of a way to tie some high-quality assets together with the non-performing assets. Only then would they be able to sell them off.
Of course, there was another way, and that was to put the non-performing assets into a company during the asset restructuring. Then, they would go bankrupt and get rid of this burden.
However, in this case, not only would it be very complicated, but it would also require a large amount of money, and at least one shareholder would have to make a sacrifice. Who would be willing to make that sacrifice? Moreover, this would also have a negative impact on the brands that used cars together. How could the world's number one automobile company go bankrupt?
The directors looked at some of the assets that Malfoy planned to sell, and their faces were a little unhappy. Wasn't this list of high-quality assets a little too much?
However, when they saw the assets that Wind and Rain Holdings planned to buy, they were really furious!
This was too much!
The listed assets were all high-quality assets that used cars together, and they were all businesses that were currently still profitable. We need funds to tide over this crisis, but if we sell all the profitable businesses, wouldn't that be idiotic?!
"Malfoy, how can you recommend us to cooperate with such a company?!" a director could not help but scold angrily.
Malfoy said calmly, "This is just the other party's goal. Everyone knows that it's absolutely impossible. Wind and Rain Holdings must also know that. It's just a negotiation, how can both parties' conditions be the same? "
Asking for a sky-high price, then returning the money on the ground. This was often the case when doing business.
Seeing that the other directors were also about to speak, Saul said directly, "Malfoy has already told everyone about our situation. Right now, among the companies that want to buy our businesses, Wind and Rain Holdings is the only one that can come up with sufficient cash in the shortest time possible.
"Moreover, the other party only said that they are interested in buying, and did not mention any conditions. We can state some conditions. For example, if we want to buy certain brands and businesses, we have to buy some brands and factories together.
"This is something that concerns the interests of all the shareholders. I've called everyone here to discuss this matter. Everyone, think carefully about how we should negotiate with the other party. "
All the directors were silent. None of them wanted to be the first to speak. If people found out in the future that the sale of XX brand had been suggested by a certain director, wouldn't the employees of those companies be dissatisfied and come looking for him directly?
Seeing that no one said anything, Saul forcefully ordered, "Everyone go back and make a sale plan. The meeting will continue tomorrow. The longer we delay, the more disadvantageous it will be for us! "
…
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
