Extraordinary Genius

1672. Chapter 1672 uses the same board of directors (9/10)

General Motors’ Board of Directors held an ad hoc meeting, and all board members came because the company’s president, Marl Foo, brought back important news.

They all know that Marl Fook went to see the CEORalph of the Wind & Rain Holding Company group, which must have brought back good news. Now they are big business people who don’t know that the Wind & Rain Holding Company group can’t spend much money.

If you say you don’t know, then prove that you are not a big businessman.

“Marl Fu, what’s the situation, let’s talk to everyone.” General Motors Chairman Sol’s face is not sad.

Marl blessed noddedly, loudly said: “Everyone, I have two pieces of information in front of me. The red cover is the condition we opened. The blue cover is from the Wind & Rain Holding Company. condition.”

“The conditions of Feng Yu Holding Group are very simple. Wind & Rain Holding Company Group agreed to acquire some of our assets in cash. Note that it is all in cash, no need to pay stocks, and there is no delay in payment. The conditions are better than the previous two. Home Corporation has given too much.”

“But at the same time, the assets they want to buy are all our high-quality assets, even brand assets such as Chevrolet and Buick, and they are not interested in the brand assets we want to get rid of.”

“The current situation is that our General Motors business has been seriously affected. After we were attacked, we made a five-year zero-coupon loan sales method to stimulate consumers’ sales. In the following years, we continued to expand the models and brands of this sales model, and also proposed more preferential measures.”

“In the first few years, our sales skyrocketed and firmly occupied the world’s number one throne. It is recognized as the world’s first car group. At that time, our same-use financial credit Corporation can also pass credit. And investment, providing a high profit for our Corporation.”

“But we decided to enter the real estate credit field and it was too big. We have issued too many subprime loans like some other real estate finance companies, which left us with too much risk.”

“This is different from car. The price of car is far less than that of a house. Although there are a lot of insolvency loans in car loans, the loss is not big. Our financial credit company profits can fully bear this. Partial loss.”

“But real estate is different. The loan amount of real estate is higher. The situation of inability to repay the loan has become more serious since last year. The proportion of bad debts has gradually increased. Our most powerful financial institution for mutual use has also suffered losses. The mortgaged house, because of the depreciation of the house, makes us unable to return the investment.”

“I didn’t agree to enter the real estate loan field, but no one in the Board of Directors supported me. I don’t want to mention the past, we have to go through the current difficulties and we must sell some assets or shares. Personal opinions tend to be sold to the Wind & Rain Holding Company group. Which assets are sold and negotiated.”

Marl said that the difficulties of the Corporation, and pointed out that these difficulties are not caused by improper management, but the result of these board member decisions, he is just the president, is a senior wage earner.

He did not say his final decision, but he threw the burden to the Board of Directors. As for the final decision, he has at most one suggestion right. The Board of Directors decided that he would do it.

After listening to Marl’s words, some board members have unpleasant looks on their faces. Is this Marl blessing accusing them? A president only dared to blame them for these board members.

However, I heard that Chairman of the Board of Directors of Solman has nominated Marl for entering the Board of Directors as an executive board member. Perhaps this is the ambition of Marl.

With these board members, no one thinks that General Motors will not be able to overcome this difficulty. Just because they are General Motors, the world’s number one car group!

Of course, they also know that some brands do not make money, and they still have a lot of money. The pace of expansion was too fast, and now it seems to be a bit overdone.

Picking up some bad assets and doing some restructuring is something that many big organizations have experienced, including many non-depleting organizations that have made these decisions. General Motors has always had this idea.

But no one is a fool, those bad assets, who is willing to take over? They can only find ways to tying, that is, using some high-quality assets, combined with bad assets, so that they can be sold.

Of course, there is another way, that is, when the assets are reorganized, the bad assets are brought to a Corporation, and they are directly bankrupt and get rid of this burden.

But in this case, not only is the operation complicated, but it also requires a lot of money to turn around, and at least one shareholder needs to make sacrifices. Who wants to sacrifice here? And this will also have a negative impact on the brand of General Motors, the world’s first car company, there will be business bankruptcy?

Those board members looked at some of the assets that Marl was listed to sell, and they were a little unhappy on the face. Is there too much quality assets listed?

However, after they saw the assets that Wind & Rain Holding Company Group planned to acquire, they were really furious!

Deceiving too much!

All of the above listed are the quality assets of General Motors, and they are all currently profitable businesses. We have to spend the money to tide over the difficulties, but we have sold the profitable business, it is not brain damage!

“Marl Fu, such a company, you also recommend us to cooperate?!” There is a board member can not help but anger.

Marl 福福said in a tranquil voice: “This is only the goal of the other party. Everyone knows that this is absolutely impossible. The Wind & Rain Holding Company Group must also know. Negotiations, how can the conditions of both parties be the same?”

Asking for the price, sitting on the ground and paying back, doing business is often the case.

Sol sees other board members also want to talk, he directly started talking: “Our situation, Marl Fu also told everyone, now Wind & Rain Holding Company Group, is the only company that wants to acquire our business, the only Get enough cash in the shortest time.”

“And the other party only said that it is interested in the acquisition, and did not say what conditions, we can open some conditions, such as wanting to buy certain brand business, we must acquire some brands, factories, etc. together.”

“This is something that affects the interests of all our shareholders. It is also a matter of convening everyone to open this Board of Directors. We all think about how we should negotiate with each other.”

All board members don’t say anything, and no one wants to make a head bird. In case you are known later, saying that the XX brand was sold at the beginning, it was proposed by a certain board member. Then, when the employees of the Company were dissatisfied, did not come directly to him?

Seeing no one snoring, Sol forced to order: “Everyone goes back to make a sale plan, and tomorrow’s meeting will continue. The longer the delay, the worse for us!”

……