Reborn Capital Empire

Vol 2 Chapter 726: Smith Ii

Chapter seven hundred and twenty sixth Smith II

…

“Especially when Merrill was implicated in the Enron scandal, he scapegoated Robert Foster, William Foss, James Brown, and Dan Bailey, the head of investment banking, but completely Disregarding the fact that the Department of Justice abused its power by sending them to the Southern Virginia Commonwealth Penitentiary.”

“Up to now, Merrill’s culture and professional ethics that it has adhered to for nearly a hundred years have been completely abandoned by Stan O’Neill. Now Merrill is no longer a great cause that Merrill people work together, struggle for, and maintain, but Stan O’Neal’s tool for his own personal gain.”

Having said that, Guo Shouyun handed a piece of information to the other party, “Now Merrill Lynch’s exposure to real estate mortgage loans and high-risk bonds has surpassed that of Lehman and Bear Stearns, with a leverage ratio of more than 22 times. Since Stan O’Neill took office in 2002, it has doubled, and with the prosperity of the US real estate industry, Merrill Lynch’s risk exposure is still expanding. But no one can accurately predict the market, blindly expand debt, only It will push the company to the brink of destruction.”

After a pause, “Mr. Smith, I have worked for Merrill Lynch for 28 years, and as the founder of Merrill Lynch, the son of the respected Mr. Winthrop Smith, I think it is very necessary for you to stand up and help Merrill Lynch get back on its feet. to its right track.”

After reading the information that Guo Shouyun gave to himself, Winthrop Smith Jr. said: “Mr. Guo, I really don’t agree with Stan O’Neal’s management of Merrill, but now I have left Merrill for a long time. All Lin shares have also been sold. Therefore, I can’t help you with the acquisition of Merrill Lynch.”

He changed his words, “Also, why do you convince me that you, who owns Merrill Lynch, are not the second Stan O’Neal? As far as I know, Phoenix Bank is the largest investor in the United States based on real estate CDOs. Speaking of danger, You are far more dangerous than Merrill.”

“Although Mr. Smith has left Merrill, it does not mean that you have lost influence within Merrill. As far as I know, there are many of your friends on the board of directors of Merrill, especially Ms. Jill Conway. … As for If Mr. Smith did a detailed investigation of the CDOs held by Phoenix Bank you just mentioned, he would find that we have hedged every CDO investment. Even if the entire market collapsed, it would not allow Phoenix Bank to operate. There is a systemic risk.”

“In addition, many facts in the past five years have proved that I still have certain experience in investing in the financial field, and I am confident that the company will not suffer excessive losses.”

“Mr. Guo is very kind. Your achievements in the field of financial investment in the past five years can be described as ‘brilliant’.”

Guo Shouyun smiled and said, “Does Mr. Smith agree to help me? After this is done, I promise that you will return to Merrill Lynch and become our President and Chief Operating Officer, helping Merrill Lynch regain its lost culture.”

Little Winthrop Smith thought for a moment, then shook his head with a wry smile.

“Although it’s a bit humiliating to say it now, Mr. Guo’s frankness makes me feel that I shouldn’t hide it. In fact, when I left in 2000, no one on the Merrill Lynch board sent me an email or a call. Phone calls. Including Ms. Jill Conway, who I have worked with for more than 20 years, as you mentioned. And from what I’ve heard, Merrill’s management and board have been completely separated under O’Neal.”

“…In 2000, there were 23 people on the Merrill Lynch executive committee. But after O’Neal became Merrill’s CEO in 2002, 18 people were resigned or left on their own. By 2003, Tom Patrick and Assad Zhaka Ria has also been fired, and Tarry and Komansky, along with Jerry Kenney, the company’s chief strategy adviser, have lost influence over the company.”

“… Now Merrill’s management is all the cronies cultivated by Stan O’Neal. In addition, because Merrill’s stock price has rebounded, the board of directors is also very satisfied with O’Neal’s decision. So, unless you can get O’Neal’s approval, or get the company’s absolute Controlling stake. Otherwise it’s hard to beat him by influencing the board.”

Guo Shouyun frowned. He didn’t expect that Stan O’Neal’s control over Merrill had reached this level.

“Although I don’t agree with Stan O’Neal’s business strategy, his political skills are really admirable. If it weren’t for the fact that there has never been a black person in the president of the US government, I think he is eligible to run for election, and there is a very high possibility success.”

Looking at his sigh, Guo Shouyun wanted to say that the United States will soon usher in the first black president in the history of the founding of the country. But the thought disappeared as soon as it crossed my mind. Now the most critical is the acquisition of Merrill Lynch.

“So, if I want to buy Merrill Lynch, I have to find a way to do it in equity?”

“At least from the current situation at Merrill Lynch!”

Guo Shouyun nodded knowingly, “Mr. Smith, I am very pleased to meet you today. If I succeed in acquiring Merrill Lynch, I hope you can return to Merrill Lynch to continue your employment.”

“I didn’t help much, you still need me?”

“Of course! As a descendant of the company’s founder, your return is more representative of the return of Merrill Lynch’s culture. Moreover, your excellent working ability is also what we are interested in.”

“Thank you Mr. Guo for your praise. If you can succeed, I am very willing to continue to serve Merrill Lynch~www.readwn.com~ In addition, if Mr. Guo needs to know some internal situation in the process of acquiring Merrill Lynch, I am very happy Provide everything you know.”

“Then let me say thank you in advance. Also, I hope Mr. Smith can keep today’s meeting and what we mentioned before.”

“certainly!”

After asking Wu Xiaojing to send him away, Guo Shouyun couldn’t help sighing as he watched the distant car shadow: “It seems that there is no chance to win the support of Merrill Lynch’s board of directors.”

Wang Jue nodded in agreement.

“Is it too risky to let him go like this? If he leaks the news of our secret acquisition of Merrill to O’Neal, I’m afraid all our previous efforts will be in vain.”

“No! Winthrop Smith Jr. has expressed his dissatisfaction with O’Neal on multiple public occasions over the past five years. It is also true that he sold his stake in Merrill. If this hostile attitude is a Performing, then there are not many people who can perform for five years in a row. Especially when he is still a representative of Merrill Lynch conservatives.”

“What are you going to do next?” Wang Jue nodded.

“Of course we are seeking more shares of Merrill Lynch. It’s just that those major shareholders of Merrill Lynch are all greedy wolves. If we want to settle them, we will have to bleed a lot ourselves.” Guo Shouyun said with a headache.

“I believe that with your ability, even if you lose something now, you will earn it back several times in the future.”

Looking at her smiling face and determined expression, Guo Shouyun smiled and nodded, his eyes became deep.

“Time is the best helper!”

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