December 18, the week before Christmas.

While the Magic Seven Company was busy with the roadshow, Evan Warren presided over the 1950 year-end summary meeting of the Warren Council. As in previous years, the theme of the conference was half to connect the feelings of the various sections, and half to present their results while developing investment and development plans and coordinating resources for the plans.

In previous years, the meeting was held at the Aegis training base, but this year it was held in the old office building where Applied Physical Systems and Applied Health were located.

Why do you say it's an old office building?

That's because, as the staff continued to grow, the Inglewood building was overwhelmed and could no longer accommodate both Applied Physical Systems and Applied Healthcare. As a result, the original office building now belongs only to Applied Healthcare, and Applied Physical Systems, like Xerox, moved out to the new office building.

In fact, in order to solve the problem of insufficient office space, Wells and Carl discussed and thought about buying land to build a building.

The plan was to build a building that would serve as the headquarters of Warren's series of companies.

However, this plan was rejected by Warren as soon as it was proposed. The reason for the rejection was not because the plan was expensive, but because once the "Warren Building" was built, which Carl called the "Warren Building," Los Angeles would be the base for the entire Warren system. Whether he will base himself in Los Angeles has not yet been determined. That's why Evan vetoed Wells and Carl's plan, and let them buy or rent the office at will, and deal with it for the time being.

There are many things to consider about whether Los Angeles is a suitable base, including the political environment, the economic environment, future prospects, and so on.

As one of the top two most populous central cities in California, Los Angeles is certainly one of Evan's candidate cities. But the political environment alone made it impossible for Evan to make up his mind about Los Angeles.

Because the political spectrum in Los Angeles has been blue (Democratic) in recent years, and although the red (Republican) spectrum has strengthened in the years that Evan has been here to study (which is why Aegis has been able to gain a foothold), it is still weak overall.

Rather than blue Los Angeles, San Francisco, which is clearly shrouded in the traditional red political spectrum, is more suitable.

Of course, Los Angeles is not without its advantages, such as its industrial environment and population growth rate. This is also important for the Warren family, which is basically an industrial company.

The stakes are high when it comes to building a headquarters, and the sooner Ewen Wenbai decides, the better, especially if he wants to build a headquarters outside of Los Angeles. Because the later the decision is made, not only will it cost more, but it will also be more resistant.

After all, moving is a big deal for anyone.

But even so, Evan didn't want to make a casual decision.

……

On the day of the annual meeting, it actually rained in Los Angeles.

In humid weather, the temperature seems colder and colder.

However, this temperature cannot penetrate the conference room, and there are electric heaters all over the corner, and the temperature in the conference room is not low at all.

The year-end meeting was arranged as usual, with a special session for each company's performance report in the morning, a buffet at noon, and a free discussion of plans for the coming year in the afternoon.

The order of the performance report is based on the order in which the company was founded, so the order is Magic Seven Inc., Applied Health Care Inc., Applied Physical Systems Inc., Aegis Inc., Xerox Inc., and Applied Semiconductor Inc.

The addition of Applied Semiconductor is another change at this year's year-end meeting of the Board of Directors.

The members of the board of directors who can make performance reports on behalf of the company are all members, but Applied Semiconductor was established by Evan himself, and the time is short, so the seat on the board of directors is temporarily held by him. However, Evan brought two people to this year's meeting and was considered a future board candidate.

This is also one of the rules of the year-end meeting of the Board of Directors: the Director may nominate and bring alternate members to attend.

During the roadshow, General Manager Davidson was the first to publish the performance report of the Magic Seven Company, and the data and content were basically the same as the report during the roadshow, so he was very familiar with what he said.

Throughout 1950, the sales volume of the Rubik's Cube in the six major business lines of the Magic Seven Company's Rubik's Cube, Building Blocks, Cards, Post-it Notes, Publishing, and Magic House retail stores further declined compared with the previous year, but the other five major business lines achieved a substantial increase, so that the company's overall performance increased by 17% over the previous year, and it still recorded a net profit of more than 10 million US dollars despite a lot of new investment.

In addition to reporting results, Davidson also reported on the listing by the way. The company will issue 12 million new shares to the public market, and the total share capital of the company will reach 60 million shares. Due to the overwhelming response, the offering price of the shares has been adjusted from the initial $4 per share to $5 per share. At this price, after going public, the company will raise more than $50 million in cash for the development of the company.

The listing of the Magic Seven Company was welcomed by the market, which made everyone in the board of directors equally happy. There are two reasons: first, Evan has previously given news that part of the funds raised after the listing of the Magic Seven Company will be transferred to the accounts of each company after a certain operation; second, each company has implemented a stock option plan, because of the listing of the Magic Seven Company, Evan allows those who enjoy the option incentive to convert the stock options of their respective companies into the shares of the Magic Seven Company, that is, to give those in need a channel to cash out in advance. Therefore, in addition to the management of the Magic Seven Company, the people present more or less owned some shares of the Magic Seven Company. When the stock price rises, everyone benefits, and it is natural that people are happy.

If Davidson's report was a joyful one, his next two reports were a surprise.

The reason why they are surprising is not because the grades are too poor, but because each has its own characteristics.

The first is Applied Healthcare, which is surprising in that it has not made a profit after hitting a record annual revenue of $25.33 million. Because its general manager Carl invested all his profits in the production and promotion of the two research institutes and the new product Pampers.

What is surprising about Applied Physical Systems is its exaggerated growth momentum.

Last year was the beginning of the explosion of the TV market, and this year it has been continued.

Last year, Applied Physical Systems launched a variety of new models of TVs based on the original models, all of which are universal models under $299 for 10 inches. Under the impact of these high-quality and low-cost products, last year, SONY brand TVs, a company of applied physical systems, recorded a total sales of 00,000 units. And this year, this number has not only increased further, but also improved in terms of quality - because it includes the mid-to-high-margin products of the 16-inch unit price of $660. 8)