Chapter 215: Banking Crisis (Part 1)
Roche had already inquired and knew that Amgen Biopharmaceuticals had Henry Williams behind it. However, this did not discourage it in the slightest!!
Because it's Roche Pharmaceuticals!
Global pharmaceutical giant!!
Founded in 1896 and headquartered in Basel, Switzerland, Roche is a century-old company with four main business scopes: pharmaceuticals, medical diagnostics, vitamins and fine chemicals, flavors and fragrances. And leading the world in the three major medical fields of nervous system, virology, and infectious diseases!
Rothman told Henry about Roche.
In the 30s, Roche chemists synthesized vitamin C, and then multivitamins, which had a significant impact on human health. And this also brought huge profits to Roche, and in the 70s, Roche was even fined for participating in the monopoly of vitamins!"
"Vitamin ...... It's very profitable!" Henry muttered.
In television commercials, it is simply common to see pharmaceutical advertisements for vitamins and other things, which shows how profitable vitamins are! Although Henry did not know how much Roche Pharmaceutical had made by selling vitamins, he must have accumulated a lot of wealth!
"Yes, vitamins are very profitable," Rothman said, "and Roche has since added a variety of businesses such as perfume production, and the profitability has multiplied." As early as 1984, Roche Pharmaceutical's antidepressant Roferon was approved by the U.S. Food and Drug Administration for marketing and use, thus becoming a milestone event in the company's history. Since then, Roferon Pharmaceuticals alone has swept away at least billions of dollars in the world!!
"Well, no wonder Roche is so strong!" said Henry, "but compared to Williams Bank, hehe...... It's not qualified enough!!"
Rothman laughed when he heard this.
"Roche has a lot of fixed assets. But what about liquid assets...... "I estimate that it is only four or five billion dollars!"
Rothman was convinced: "If Williams Bank fully supports us, this acquisition will definitely be a !! for Amgen Biopharma."
Henry was just about to speak, at this time. Karina walked in with a slightly ugly face.
Henry suddenly realizes that something bad is going to happen!
"What's the matter, Karina?" asked Henry, stepping forward.
"There has been a serious run on Williams Bank across the United States, and many media outlets have added fuel to the fire and reported on it. Further caused panic among depositors!! "Karina said in a deep voice.
"How can this be?!!" Henry frowned.
"The personnel of the intelligence investigation team have sent a message that this run is not an accident, but a premeditated one!"
Henry sat down and said to Karina, "Tell me what is going on!"
Karina sat on a chair in front of Henry, and said with a serious face: "Morgan Bank, Citibank has long wanted to make a move on Williams Bank, and before that, you should have made a lot of preparations! And the amount is huge. JPMorgan Bank and Citibank are attacking you by claiming that 'Williams Bank is Henry Williams' one-man bank, and when he wants to spend money, he takes money from Williams Bank, and one day, he will spend all the depositors' money!' And this time, you're asking Williams Bank to lend Amgen Biopharma billions of dollars, which is already far more than Amgen's market capitalization. Therefore, it is like a fuse being ignited. caused the current situation......"
Karina paused for a moment and continued: "At present, there are many depositors in the streets all over the United States, holding signs and shouting slogans, and marching and demonstrating!!"
Henry's brow furrowed deeper and deeper. "What slogans are they shouting?"
"Reject Henry Williams' dictatorship, the bank's money is everyone's money......!"
"What else?"
"And ...... Refuse to lend to Amgen Biopharma!"
When Rothman heard this, he became a little anxious, and looked at Henry. However, he also knows how to measure and understands how bad the current situation of Williams Bank is, therefore. Didn't say much!
When Henry heard this, he was silent for a long time.
"I'm sorry, Dr. Rothman, I'm afraid Williams Bank won't be able to lend to Amgen Biopharma......" Henry looked at Rothman, apologetic.
Rothman was a little disappointed, but he still smiled: "It's okay, I can understand! I just think it's a pity that I can't win Genentech......"
"Don't be discouraged, Dr. Rothman, I'll figure it out!!"
Rothman smiled reluctantly, thinking that Henry's words were just a comfort to himself. Now that Williams Bank is under crackdown from the US financial giants JPMorgan Bank and Citibank, you can imagine how much pressure will be on Henry Williams, who is still only a 17-year-old teenager......
Rothman looked at Henry with a hint of pity.
"Mr. Williams, please don't worry about Amgen Biopharma, even without the acquisition of Genentech, our company is still one of the strongest biopharmaceutical companies!"
"Are you willing to give up on Genentech?"
"Yes!"
"But I am not reconciled!! if this Williams bank run is not involved in Roche Pharmaceuticals, I resolutely do not believe it! If I give up this acquisition, it will undoubtedly be equivalent to the fulfillment of Roche Pharmaceutical Company! But how can I let it get what it wants so easily?!!! Henry's resolute face showed maturity and calmness that were extremely inconsistent with his age, "Since you can't borrow money through the bank, then through other means!"
As he spoke, Henry turned to look at Karina and asked, "How much money can the Gathering Fund have now?"
As soon as Karina heard this, she understood Henry's plan, and after a moment's thought, she replied: "There are still about a billion dollars in liquidity!" If you sell some of the shares in other companies, you will have no problem raising enough funds to acquire Genentech!!
"Then sell the shares of some companies with less investment returns!" said Henry.
"Well, okay, it's just ......," Karina said, looking at Rothman, "you know, it takes a while to sell the shares, so, in the meantime, Dr. Rothman, you're going to have to hold on to Genentech and not let Roche buy it." Otherwise, we will not only lose all our efforts, but also lose a lot of money as a result!"
Sell the shares rashly, and Weifeng Capital will make a lot less money!
If you sell your shares in the end but fail to buy Genentech, then this loss fee will be in vain!
Rothman also understood this truth, and when he saw a slight turn for the better, he was immediately excited, and promised: "Don't worry, Miss Karina, we will definitely hold Genentech back!!"
Henry and Karina looked at each other, both nodded, and then said goodbye to Rothman.
Williams Bank urgently needs Henry to deal with it, and at least make some statements in front of the public, otherwise the run will become more and more serious, and Williams Bank will not be able to survive sooner or later. And Karina needs to return to Weifeng Capital and sell shares on a large scale!
Soon, the two were back in San Jose on a private jet.
The first thing he did when he came back, Henry asked the major media to inform him that he would hold a press conference at 9 o'clock tomorrow morning!
At this time, Eddie Dewey, the president of Williams Bank, hurried to Henry and reported the situation with an anxious face.
At present, more than 50,000 depositors have withdrawn their money, and the run on the situation is still ongoing!"
"I've got that," Henry asked, "are there any new moves between Morgan and Citibank?"
Eddie Dewey nodded: "Yes! This afternoon, they just announced an increase in the deposit interest rate, relaxed the mortgage conditions, and held a marketing campaign of 'giving gifts when you get a card', so many savers have been attracted to it......
Henry nodded in understanding.
"I think that improving the service quality of the bank is the key to attracting deposits and loans, such as providing online banking, personal financial management design and other more personalized intermediary business services, we appropriately charge a part of the intermediary business fees, and customers can spend very little money to enjoy high-quality services! Although raising the deposit interest rate can also attract depositors, but it is not a long-term solution, the increase in the deposit interest rate will reduce the bank's income, but weaken the bank's cost, but reduce the quality of service, for users, may not be a good thing! When it comes to mortgages, I always stick to one principle, which is that we must never relax the mortgage conditions!!"
In the event of a subprime mortgage crisis, the banks will collapse!
There are not a few banks in the United States that fail every year because of real estate, so if you don't make money in real estate, can't banks make money?
Henry took the high-tech route, but he didn't want to bring down his bank because of real estate!
Eddie Dewey nodded: "Chairman, please rest assured that the bank will operate according to your instructions!"
"Well, what's the problem?"
"That's right, due to the severe run, depositors are now not confident and worried that the banks will run out of money, and many media are also singing about it!"
"Well, I've had people inform the media that there will be a press conference tomorrow and I'll clarify something at the press conference. Also, hehe, say Williams Bank has no money, then let them see, how much money does our bank have!!"
(PS: Ask for a subscription, ask for a subscription, ask for support, today's four more, now is the first one!)
(To be continued.) )