Chapter 540: The Age of Intelligence

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"Mr. Guo, why did you insist on acquiring Enron when everyone was not optimistic?"

"First, Enron is the largest electricity supplier and gas pipeline company in the United States, and Pacific Energy wants to be the top company in the power and gas space, and Enron's assets in utilities cannot be bypassed. Second, while Enron's liabilities are close to $40 billion, only one-fifth of them are liquid liabilities, about $8 billion, and the rest are long-term debts that are more than a year old. At that time, I had enough funds in my hands to solve Enron's financial dilemma. Third, California's energy crisis is a thing of the past, and the stable and sustained revenue capacity of electricity can effectively balance the debt. ”

In the end, it turns out that Pacific Energy Group, despite being burdened with a lot of debt as a result of the acquisition of Enron's business, has not slowed down its development. Today, we are the world's largest electricity supply and gas distribution and retail company, providing integrated electricity and gas to 45 million individual customers and 130,000 commercial customers worldwide. ”

"Pacific Energy Group has truly achieved amazing results under your leadership. But I heard that because of Enron's debt problems, you almost got involved with the creditors of Goldman Sachs, Citigroup, and Northern Trust?"

"That's just a rumor, in fact we're just arguing more intensely. ”

"Why?"

"They asked me to pay Enron's debt on time, and I wanted three-quarters of the liquid debt to be deferred and asked for a price concession. Because of our respective interests, we have little chance of peace. ”

No one is stupid enough to buy a company and use their precious liquidity to pay off its debts. The most direct way is to improve the level of operation and management, reduce expenses through layoffs and streamlining administration, and then invest in expanding revenues and use the company's own money to pay off debts.

Such an advantage is a reduction in tax payments.

You must know that whether it is the United States, China, or even most countries, the comprehensive tax paid by the company, including corporate income tax and deed tax, is close to 45% of the company's gross profit.

If a company has higher liabilities, the lower the tax base it needs to pay after paying off interest and part of the debt.

Therefore, if you want an enterprise to come back from the dead, in addition to improving the level of internal management, the most appropriate way is to increase the total assets of the enterprise by means of investment, and then increase its revenue, and use the revenue to repay debts.

When he bought Enron, Guo Shouyun did just that.

"And how did you come to an agreement in the end?"

"Taking a step back and negotiating is the best way to solve a problem. ”

That being said, in fact, all of Enron's liquid debts have become long-term debts, and the interest rate is only 6.4! Because Enron's creditors know very well that if he does not buy it, the result of Enron's bankruptcy will be that everyone will lose all their money.

Now, although the interest is reduced, at least the investment is still profitable. Between losses and gains, anyone will choose to be on their side.

However, there is no need for this kind of thing to be made public. Be vague and give the major financial companies some face to everyone.

"Some people say that Mr. Guo's acquisition of Universal and Warner Records is a robbery while the fire is hot, do you agree?"

"There is no deal in the world that is robbed while it is hot. If you're losing money on a deal, Time Warner and Vivendi, because of their financial crisis due to poor decision-making and blind expansion, they need to fire off some of their business to get themselves out of trouble. Even if it weren't for the matrix, there would be another consortium to buy Universal and Warner Records. ”

"Can you tell us why you bought Apple?"

"There are a lot of geniuses in this world, and Steve is one of them. He's the most leading, innovative, and amazingly anticipated entrepreneur I've ever met. I didn't invest in Apple for Apple, I invested in Steve Jobs. If Apple doesn't have him, it doesn't have investment value. ”

"It's unbelievable that you would give Mr. Jobs such a high rating! You must know that in the eyes of many people who have worked with him, he is a tyrant in the truest sense of the word. Stubborn, irritable, insistent on his own opinions, and even when he was unhappy, he humiliated Apple employees without scruples. Steve Wattniak and Rowayne, the two people who co-founded Apple with Jobs, both left Apple because they couldn't stand his dictatorship. None of the three Apple CEOs, John Scully, Michael Pindler, and Jill Amerio, could coexist with Jobs. ”

Guo Shouyun smiled, "To be precise, when Michael Pindler was in charge of Apple, Steve had already left. So there wasn't much contact between them. The contradiction between them is more about the product competition between the next company and Apple. ”

“… In addition, the reason why they can't coexist with Steve is because they lack understanding and communication with each other, and they don't give him enough trust. In my opinion, Steve is a genius in the field of science and technology, and he is good at discovering talent and the direction of future scientific and technological development, and D's success proves this. ”

"So you rarely interfere with Apple's management, and that's why?"

"I'm not good at managing companies, I don't know as much about Apple as Steve, and I don't know the future development trend of consumer electronics, so why should I interfere with Apple's operations?"

"But I've heard that the iPod and iMac G3, and even Apple OSX system software, iTunes music playback software, and many other software, have your design? Even Jonathan Ivey, Apple's head of design, and Avit, head of software, have praised you as a genius in both fields. ”

"Internet companies are also software companies, but I'm good at that. As for the appearance of the hardware, I probably have some unique aesthetic. But a single breakthrough doesn't mean you're completely good at it. ”

"Mr. Guo is too modest. ”

"I'm just telling the truth. ”

"Mr. Guo trusts Mr. Jobs so much, didn't he think that Apple might repeat the mistakes of the past under his leadership and go into decline like Next?"

"Next isn't in decline, it's just that it hasn't found a way to prove itself in a limited amount of time. And, without NEXT's STEP operating system, there wouldn't be Apple's amazing OSX operating system right now. ”

"The OSX operating system, while powerful, has not shaken Microsoft's dominance in the field. ”

"I believe in Apple's future and that OSX can be a computer operating system that can compete with the Indos system in the future. ”

After looking at your interview catalog, "Your two presentations at Chinese University in Hong Kong and Harvard University this year have made a deep impression on the global tech community. In particular, your elaboration of the future of the Internet, as well as the prediction of future technologies such as cloud computing, big data, and artificial intelligence, is admirable and curious, can you elaborate on it?"

"What I'm going to say, and what I'm affirming, was actually said in both presentations. As for something more detailed, I'm now working on a book that will detail my understanding of the internet and the future. I believe that when the time comes, curious people will find the answer from it. ”

"Books?" Jacques Vaughn's eyes lit up, "May I know the name?"

"Intelligent Era!" Guo Shouyun nodded and said.

Big names like to write books and speak, because this can not only bring themselves fame, enhance the influence of the industry, and even leave a name in history.

In 99, Bill Gates became famous all over the world for a future speed, and Guo Shouyun also hoped that he could establish his godfather status in the Internet field with an intelligent era.

"How much has Mr. Guo written about this book, and when will it be published?"

"It's already half done, and it will probably be published next year!"

"I think it's going to make it to the New York Times and Amazon bestseller lists!"

"I hope so, too!"

"Mr. Guo, it is now rumored that Phoenix has reached a merger agreement with the National City Bank of the United States, is that so?"

"Yes. We have submitted merger applications to the Federal Reserve and the Department of Commerce, and once approved, National City Bank will be delisted from the New York Stock Exchange and the two parties will enter the integration phase. ”

Jacques Vaughn nodded, "Phoenix Company far exceeds the National City Bank in terms of asset size and yield, what made you choose to merge with it?"

"Of all the big banks in the U.S., National City Bank is one of the fastest growing banks, and the CEO, Ruben Stein, is also an admirable banker, and I'm sure the merger will be a good thing for Phoenix or National City Bank itself. ”

"After the merger, how will the equity be distributed, what will be the name of the new company, and how will the leadership be structured?"

"The name of the new company will be Phoenix Bank, and I will continue to serve as Chairman of the Board of Directors, Stephen Bryan as CEO, Rubendstein as COO, Michael Moretz as Co-CEO, and the rest will be announced on the new company's website. As for the distribution of shares, you will be clear when the company goes public. ”

"Mr. Guo is going to list Phoenix Bank?"

"Of course!"

"What about time?"

"At the end of next year!"

"I remember that Ruby's LinkedIn has now started a roadshow, and Google and Unocal have been rumored to go public, and now Phoenix Bank. After a pause, "Can I understand that Mr. Guo is ready to promote the listing of your companies from now on?"

Guo Shouyun nodded affirmatively.

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