Chapter 179: Voluntary Pit Jumping (Asking for a Monthly Pass)
In fact, such a domineering Chinese name of the Empire State Building is a literal translation of the misunderstanding, and the correct name should be "New York State Building" or "Empire State Building".
Although he bought the ownership of the Empire State Building and the title deed for more than $40 million, Su Mu did not buy the complete Empire State Building.
The Empire State Building Consortium is a third-party company that owns the rights to operate and manage most of the building's floors, and Su Mu has only about $2 million a year in rent.
Recently, Prudential Insurance Company found that although it owned the building, it had neither the right to operate nor a share of profits, and could only receive a fixed annual rent, so it authorized Salomon Brothers Brokerage to auction the Empire State Building on its behalf.
These are the details that Su Mu learned yesterday in Mr. Senna's office.
In fact, in the past three years, the Empire State Building has been able to earn about 15 million dollars in rent every year, and after deducting the "lease fee" of 2 million US dollars, the rest of the money has been divided among the shareholders of the Empire State Building United Company.
I thought the auction price was low and no one was willing to take over, and this is the reason.
In 1951, a group of businessmen who founded the Empire State Building United Company signed a strange agreement with Prudential Insurance Company to lease the company for 30 years, with four lease extensions of 21 years, meaning that the lease was valid for 114 years.
Sitting in the Rolls-Royce at the moment, Su Mu was talking to Lily about it, and Lily asked him in surprise, "Are you crazy, why do you want to buy this lease when you know it exists?"
The car was borrowed from the hotel, and he was also friendly with the director of the Empire State Building United Company before, but this did not prevent Su Mu from speaking ill of it, and replied with a smile on his face: "It is because I know that this joint company makes money, and the Empire State Building can also make money, so I made up my mind to buy it." ”
Lily is not a stupid girl who knows nothing about business, and she furrows her beautiful eyebrows and asks, "You want to buy the Empire State Building Corporation?"
"To be precise, I wanted to fight a lawsuit against them, and at first I decided to give up buying it, and then I looked at the lease contract that was signed in the fifties, and found that there were several loopholes in it that could have caused the Empire State Building Management Company to lose management and invalidate the original contract. ”
Su Mu drove the car, and just now went to Brown University, and was driving Lily back to New York at this time, her suitcase was in the back seat, and the interior of the car was exquisitely decorated.
"It's a risky idea, but it's worth giving it a try, and if it works, I'll make a lot of money." ”
"But what if it fails?"
Lily looked at Su Mu: "Leon, I know you are very smart, but it is indeed possible to fail, after all, Prudential Insurance Company has not succeeded for more than thirty years." ”
"My dear Lily, don't think too much of the Wall Street guys, I studied a lot of classic cases during my time at Yale, including the history of major companies, and found that they were sometimes surprisingly stupid. If it fails, I may lose a few million dollars if I sell the Empire State Building at a reduced price, but if I succeed, I can make more, probably tens of millions of dollars, or even hundreds of millions!"
"Who's your dear?"
Lily asked him with a smile, she liked to see Su Mu's smart side, and told him with a smile: "You're so cool now, I hope you don't become a fool who loses millions of dollars then." ”
"There is a good chance of winning, and in the fifties the Empire State Building Management Company attracted more than 3,000 investors to raise $10,000 each for $33 million, plus $29 million from Prudential Insurance, to get a 114-year lease of the Empire State Building.
According to the agreement, the Empire State Building Management Company will distribute 90% of its profits to shareholders every year, which means that the company itself has no money, but is borrowing lease rights to make money from me, or from Prudential Insurance Company, which has a lot of money and does not mind suffering losses for more than 30 years, I mind it, I will first spend the long holiday at the end of this month, and I have recently started to prepare, and I will file a lawsuit with the court next year. ”
Lily saw Su Mu's other side, and her expression was crying and laughing: "You said a few minutes ago that you would go to the party that Morkin held for you tonight, and before you even attended the party, you were ready to sue them?"
"I decided to sue them before I bought the Empire State Building, and the first time someone threw a party for me, I was embarrassed to refuse. It's all for profit, isn't it cool to be a shrewd businessman like me?"
"I'll admit it's kind of cool, like Jewish. ”
"You only know that Jews are shrewd in business, in fact, we Chinese are not bad, and before that, for more than a thousand years, the richest man in the world was all Chinese. ”
"For example?" asked Lily with interest.
"For example, Emperor Kangxi, Zhu Yuanzhang, etc., the whole of China, including people's lives, is theirs, how rich do you say?"
“…… You're playing tricks. ”
……
There are two hotels in the Empire State Building, one is managed by the Empire State Building United Company, and the other is what Su Mu calls a "low-end hotel", the grade can only be regarded as a three-star hotel, mainly rented to tourists, the infrastructure is too poor, but the price is set quite high.
After returning to New York, Lily was arranged in a hotel created by the Empire State Building Corporation, and after putting her luggage, Su Mu took her to the observation deck to look at the scenery, and luckily, it snowed again in New York.
The current head of the Empire State Building Unit, whose name is Dai Rimo Jin, is headquartered on the eighty-seventh floor of the Empire State Building, and tonight's party for the new owner of the Empire State Building is there, and he was also present during the morning check-in, chatting with Su Mu for a few minutes.
During the signing period, he did not show hostility at all, so that Mr. Mokin regarded Su Mu as a stupid wrongdoer, and a few years ago, there was also someone who regarded Su Mu as a fool, and that person's name was Han Yu.
Now the market value of Qugou supermarket is more than 300 million US dollars, and Boss Han started his business again at the end of 1985, and the money was swept away by his sister-in-law, and he let his relatives take care of the accounts.
Even Mr. Senna didn't know what the hell Su Mu was up to.
However, since seeing a copy of the lease contract decades ago, he smells money in it and intends to wrestle with the Empire State Building Management Company.
The training and learning in recent years have not made Su Mu indulge in his existing achievements and become more savvy...... ()
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