Extraordinary Genius

1923. 1923 Chapter Dezhong Crisis

Marco thinks, this will be Feng Yu, they are deliberately deceiving him, and Feng Yu has no plans to invest in the Dezhong Group.

But he didn’t dare to gamble. Feng Yu’s attitude was too strong, and he didn’t give him a chance to talk slowly. Who makes the current General Motors so bad luck, seriously lacking money?

Although there are not many $10 billion, it may not be possible to pull General Motors out of the bankruptcy quagmire, but this is crucial for Marco.

After talking, then he has the merits, he can continue to sit in the position of Chairman and CEO, and can continue to hold high salaries. The executives of the general listed company are annual salary + stock rewards. But he doesn’t want stock rewards now, just raise the annual salary.

Why, not because General Motors is going to delist. The stock price has been in a long-term downturn. If it continues to remain in the market, it will suddenly fall and bankruptcy will be inevitable.

Marco reflects the matter to the shareholders, and naturally includes the Government of the United States.

There was a reprimand of Marko, and he thought that he was not doing things well, but he did not dare to let Marco directly refuse. In particular, several major shareholders, eager to get General Motors to get some cash, Corporation now needs too much money.

Debt management is normal, many companies are debt-operated, but the debt is more than double the value of the Corporation assets, or the number is so large, they are unique.

Although they are very clear, it is impossible for the Government of the United States to watch their bankruptcy, because the impact is too great, and it may make the economy of the country worse again.

But it takes time for the Government to raise funds over there, and they must fight for this buffer period. And with money, they can also reduce their debts and make some quicker responses to avoid more serious situations.

Before the death of Feng Yu, General Motors began to make profits, and the profit for a year was only a few hundred million dollars.

With an annual output of more than 9 million vehicles, there are only a few hundred million dollars in profits, showing how much their debt impact. The debt thing is getting bigger and bigger.

Feng Yu really returned to his office and was concerned about the Dezhong Group.

The development of Dezhong Group in recent years is not very good. In 04 year, Dezhong Group had to sell some shares because of poor management and high production costs, so that they could continue to operate.

Of course, it is also because this year, the EU wants to abolish the privileged terms of the German group of Saxony’s Government, which is actually local protection and limits the rights of other shareholders.

Formerly the Germans at least managed to operate in China, earning a lot of money. But this world, China market, that is Bing City car when Boss, Dezhong and other joint venture car companies can not make any money, China car companies and the previous life have a big difference, have made alternative technology, and then sell their own brand of car .

That is to say, when the global car sales fell sharply last year, the China market broke through the production and sales of 11 million vehicles. In addition to Bing City Machinery, several other large-scale car companies planned by China Government performed well.

This point can be seen from the acquisition of foreign brands by Chinese car companies.

The same is true this year. When the European and American car companies racked their brains to reverse the market trend, China was “the scenery alone.” The sales in the first quarter broke through 3 million, and the performance is still good. This year, there is a breakdown of 13 million production and sales.

Dezhong has no advantage in the past China market, and this life is naturally worse.

When Porsche saw the opportunity, it was said that the Dezhong Group itself was created by the Founder of the Porsche Group. At this time, the helm at the helm was the three generations of the original Porsche master. It was a table brother.

The Porsche Group has always thought of “taking back the German group”, so when they took advantage of the stocks of Dezhong Group and issued additional stock financing, they madly ate, increased their equity to more than a quarter, and became the Dezhong Group. The largest shareholder.

Then the Porsche Group promoted the EU to abolish Germany’s protection clauses for the German group, so that after becoming a large share of Dongzhi, they really have the opportunity to control the Dyna Group.

Dezhong Group wants to develop, what if there is no money? They issued some options like many companies. That is the bond, which expires, can be redeemed, or converted to securities in the company’s stock.

The Porsche Group loaned 10 billion euros for this and slowly ate it. They claim that they just want to increase their stocks in Dezhong Group, and there is absolutely no idea of ​​acquisition.

In this lie, the Porsche Group has a 42% stake in the German group, and the German Government was shocked.

At the same time, there are a large number of options, and together, nearly three-quarters of the equity is in the hands.

The Porsche Group didn’t have that much money at the time. The Porsche car market value is only a few, a few One billion euros, and the assets of Dezhong are several times.

So at the time, the Porsche Group not only borrowed money, but also secretly received support from many hedge funds. However, Porsche Car also began to make a lot of losses at this time. They did high-end luxury car, but they burned money. At this time, the debt exceeded the two One billion Euros. This is not the arrears of Porsche Holding Group.

The stocks of Dezhong Group have been going up and down, and many hedge funds have lost money. The German government has also begun to consider how to counterattack, and the Dezhong Group must not be acquired. What they need most now is money.

How to raise funds, there are only a few old methods, one is that shareholders take money out, then the Porsche Group, the largest shareholder of Dezhong Group, naturally does not agree.

Or the German Government pays and tries to buy back the stock. It is a pity that the German government did not have so much spare cash because of the economic crisis.

Then let the German public group issue additional shares, or issue bonds, but they are afraid that the Porsche Group’s shares will soar again, it really makes the Dezhong Group become a Porsche Group.

So Dezhong Group really contacted Ralph and hoped that Feng Yu could invest in them. They promised high interest rates and hoped that Feng Yu could buy their bonds, but they would not give them equity.

Of course, the Dezhong Group also has the idea that after Feng Yu became their share of Dongzhi, the China market is still not open to them, and even the Eastern European market will be open to them.

The acquisition of Porsche and Dezhong is placed in China, which is a typical case of individuals swallowing state capital, but it is legal. And the competition between such cousins, Feng Yu is not intended to be incorporated.

Dezhong now asks for money to buy the Porsche car, the core asset of the Porsche Group, but the Porsche Group also has a stake in the family of the Dezhong Group. In Feng Yu’s view, the two tables are not in the same shape. The German government kicked out.

Feng Yu put down the information on the German side, or forget it, and it is not good to be pitted by these two brothers. Now look at whether Marco has promised this, and I hope that this nail in General Motors can play a bigger role!

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