Chapter 030 Acquisition of Apple

Xiao Chen has always been very confident in expounding his governance plan, he stood up, paced the square steps, and talked eloquently: "The Third Plenary Session of the 16th Central Committee of the Communist Party of China pointed out that it is necessary to vigorously develop the economy under the joint ownership system and make the joint-stock system the main form of public ownership. This spirit of the Third Plenary Session of the 16 th CPC Central Committee pointed out the direction for the reform of state-owned enterprises in Northeast China, especially large state-owned enterprises. In my opinion, with the exception of a very small number of large state-owned enterprises in special industries and fields, all other large state-owned enterprises should take the road of shareholding reform and equity diversification, adhere to the principle of 'not seeking ownership, but seeking locality, and more development'; those that can be restructured into non-state-owned holding companies must be resolutely restructured into non-state-owned holding companies, and even if they cannot be restructured into non-state-owned holding companies in one step, they must first be restructured into state-controlled enterprises with diversified equity, and gradually reduce the proportion of state-owned shares and gradually realize non-state-owned holdings. For qualified enterprises, the proportion of state-owned shares can be reduced to zero.

However, the reform of large, old, and difficult state-owned enterprises can no longer follow the reform methods that were mainly aimed at small and medium-sized state-owned enterprises in the past. In the past, the approach to small and medium-sized enterprises can be summarized as follows. ”

Facing the serious faces of several Northeast giants, Xiao Chen stretched out a finger: "First, focus on 'internal restructuring'. The net state-owned assets of small and medium-sized enterprises are relatively small, and the management and employees can find ways to raise corresponding funds to buy out the enterprises. Moreover, many enterprises combine 'the state buys out the length of service of employees' and 'the workers buy out state-owned enterprises', that is, the net state-owned assets are used to pay for the cost of buying out the length of service of employees and these net assets are directly converted into shares held by employees, so that insiders can control the shares without the need for employees to take out funds. This restructuring method is very simple and easy, but it is also easy to leave some sequelae, and it is not suitable for large state-owned enterprises. ”

Then he stretched out a second finger: "Second, reform at your own expense." The so-called self-funded restructuring refers to the fact that the restructured enterprises use their own state-owned net assets to pay the cost of restructuring. Paying the high cost of restructuring is probably a very special feature of the reform of China's state-owned enterprises, and it is also an important reason why the reform of China's state-owned enterprises can be carried out smoothly and in general. Over the past many years, the government or investors generally do not come up with cash to pay the cost of restructuring, but calculate the restructuring cost of the restructured enterprise and directly offset it against the state-owned net assets of the enterprise, which is self-funded restructuring. Restructuring at one's own expense has led to two situations: a good enterprise has enough net assets to offset the cost of restructuring, and the workers' union will try its best to raise the cost of restructuring to get more compensation, and the workers and workers even hope to 'make a fortune' through restructuring; especially in the case of 'internal restructuring,' insiders will try to 'do' the cost of restructuring as high as possible and lower the price of buying out the enterprise; and the poor enterprise does not have enough net assets to cover the cost of restructuring and reorganization, so the enterprises in difficulty are often unable to carry out restructuring and reorganization, and this has become a 'bleeding point' that has been 'bleeding for a long time'.

Since the remaining state-owned enterprises in the northeast are large, old, and difficult state-owned enterprises, if the 'internal restructuring' and self-funded restructuring are still adopted, then it will be difficult to promote the next step of state-owned enterprise reform. In my opinion, the next step in the reform method of large, old and difficult state-owned enterprises in Northeast China should be adjusted, and the 'external-type restructuring' should be the mainstay, and the investors should pay the restructuring and reorganization costs as a whole. ”

When it came to this, several giants were worried, but Xiao Chen was not moved, but continued: "Focusing on 'external-type restructuring' is to vigorously encourage external strategic investors such as private enterprises and foreign businessmen to acquire state-owned shares of enterprises, or even acquire state-owned enterprises as a whole. For large state-owned enterprises, the overall acquisition or transfer of state-owned shares by private enterprises and foreign investors can effectively overcome the limitations of the 'internal restructuring' of small and medium-sized state-owned enterprises, and can not only introduce capital, but also introduce advanced technology, strict management, and flexible mechanisms, and accelerate the integration with the market. Of course, according to the specific situation of the enterprise, it is also possible to consider the joint acquisition of state-owned enterprises by insiders and external strategic investors, so as to combine the advantages of 'internal restructuring' with the advantages of 'external' restructuring.

Having the investors pay the restructuring and reorganization costs as a whole requires the newly established and soon-to-be-established SASAC at all levels to have the courage to assume the responsibilities that the investors should bear, stop the good enterprises from excessively raising various compensation standards, prevent the good enterprises from falsely raising the cost of restructuring and deduct the cost of restructuring directly from the net assets of the state-owned enterprises, resolutely collect the cash income from the transfer of state-owned shares and the overall sale of state-owned enterprises, and use these cash income to pay the restructuring costs of the enterprises themselves and the restructuring and reorganization costs of other enterprises in difficulty. Of course, the overall payment emphasized here does not require all kinds of compensation standards for employees of good enterprises and employees of poor enterprises to be exactly the same, and I fully agree that employees of good enterprises can get compensation with higher standards, but the key is to strictly follow the standards, and not to regard the standards as nothing, let alone calculate the cost of restructuring by fraud. ”

As the only secretary of the provincial party committee, Wang Kun said at this time: "The reform of state-owned enterprises in Northeast China needs policy innovation, which is a point of view that we all agree on, but how to innovate and whether this innovation will have any negative impact is also something that we must consider as a local leader." ”

When Wang Kun said this, Hou Dongxiang also nodded, and Zhang Bayan, the governor of Longjiang Province, asked more directly: "Director Xiao, is there a more accurate and detailed statement here?" We also have a good reference. ”

Xiao Chen stretched out three fingers: "I have three ideas here, which are not very mature, let's listen to them." ”

Everyone was naturally polite, and then Xiao Chen said: "First, use appropriate policies to eliminate the resistance of insiders to the 'external restructuring'. Generally speaking, 'internal restructuring' can enable insiders to obtain 'restructuring dividends'. The so-called 'restructuring dividend' here does not refer narrowly to the shareholding and dividends of insiders, but to the fact that insiders can obtain greater price concessions in the transfer of state-owned shares and buyout of state-owned enterprises, including implicit price concessions due to the appraisal of state-owned assets, and can obtain larger compensation costs, at least insiders, especially the management, can continue to control the enterprise. In state-owned enterprises with good economic returns, and in state-owned enterprises where management has played a key role in the development of enterprises, insider resistance is particularly serious. To a considerable extent, the resistance of insiders will make the motivation for the reform of state-owned enterprises disappear, because many proposals for the reform of state-owned enterprises are initiated by insiders, and if they cannot obtain the 'restructuring dividends' through the 'internal reform', they will oppose the reform under various pretexts, and even the workers' congress will resist the adoption of the restructuring plan. In more serious cases, the management will transfer state-owned assets and destroy state-owned assets before external strategic investors take over, and at least they will lose their due sense of responsibility for normal production and operation. In my opinion, appropriate policies should be adopted to eliminate the resistance of insiders to the 'external restructuring', and to release the military power with a glass of wine, such as buying some shares at preferential prices or even rewarding some shares to the management, allowing the management to jointly purchase state-owned enterprises with external strategic investors, and arranging a 'retreat' for the management, and so on. Of course, this requires the local SASAC or the local government to have a great deal of 'camera power' over the disposal of state-owned assets. ”

It must be said that Xiao Chen is by no means a leader who is completely incapable of sand in his eyes, although what he does often seems to be very jī fierce, as if he is like a sharp knife of reform, and he can start wherever he wants. In fact, people who have such a view do not understand Xiao Chen's reform skills at all, in fact, he is extremely measured every time. The so-called reform will inevitably touch the vested interests of some people, and most of the failures of any reform in history are due to the counterattack of these vested interests. And the reason why Xiao Chen's reforms have been successful so far is that he has mastered a "degree".

What degree? Reform, change a group of people's hearts and livers, but just keep him in a breath, never really nòng is dead, Xiao Chen seems to be bleeding people here, while feeding him something delicious, by the way, looking at this person's expression, in case of anger, he will easily smear a handful of medicine on others - but the blood still has to be released.

Now Xiao Chen's method also reflects his consistent skill, Wang Kun and the others felt it as soon as they heard it, and they were relieved at once. They have always been worried that Xiao Chen's reform pioneer will become addicted, regardless of the following reactions, and they want to see "quick results", which is easy to happen. As Xiao cadres, they can almost be said to be directly in charge of many major events in the three northeastern provinces, although they generally support Xiao Chen, but if Xiao Chen's insistence on the method may lead to serious consequences, they will definitely not agree.

Seeing that the faces of the giants present were much more relaxed, Xiao Chen smiled slightly and continued: "Second, take the lead in piloting the state-owned capital operating budget in Northeast China, actively try the double-entry budget system and explore how to establish a capital channel between the state-owned capital operating budget and the social security budget. In fact, it means that the SASAC will collect the income from the sale of state-owned shares of good enterprises, and these revenues will not be included in the general budget of the financial department, in addition to paying the restructuring costs of the enterprises themselves, they should also be used to pay the restructuring and reorganization costs of poor enterprises, and the main body of this task should be the local SASAC. Through the state-owned capital operating budget, the overall payment of restructuring and reorganization costs can be well realized, and the income from the sale of state-owned shares can also be prevented from being improperly used to continue to reinvest in state-owned enterprises, or even used by the State-owned Assets Supervision and Administration Commission to establish its own 'descendant enterprises'.

Taking the lead in experimenting with the state-owned capital operating budget in Northeast China has another layer of significance, that is, to explore how the central government's state-owned enterprise restructuring in Northeast China can be coordinated with local governments. As I have already pointed out, the proportion of the state-owned economy in the northeast region is much higher than the national average, and a considerable number of the state-owned enterprises are state-owned enterprises under the central government. Central state-owned enterprises are not only large in scale, but also have high asset quality and strong profitability. In my opinion, the central government's large state-owned enterprises should also speed up their restructuring and sell high-quality state-owned shares to external strategic investors. However, the restructuring of central state-owned enterprises will increase the burden on local governments, such as the divestment of social functions of enterprises, the diversion of redundant personnel, the retirement of employees, and so on, which will increase the expenditure of local governments. At the same time, a considerable number of local state-owned enterprises in difficulty were also decentralized by the central government in the late 90s, and the restructuring and reorganization of these enterprises will also increase the expenditure of local governments. In my opinion, in order to promote the restructuring of state-owned enterprises in the northeast region by the central authorities and to promote the restructuring and reorganization of enterprises that are in difficulty in decentralization, it is necessary to establish a channel through which the income from the sale of state-owned shares of large central state-owned enterprises can be transferred to the local governments to pay for the costs of restructuring and reorganization through the system of state-owned capital operating budgets.

Furthermore, the Northeast region should actively try the double-entry budget system and explore how to establish a funding channel between the state-owned capital operating budget and the social security budget. I do not advocate the complete separation of the state-owned capital operating budget, the social security budget and the general budget of the financial sector, let alone the financial sector completely ignoring the state-owned capital operating budget and the social security budget, but the reality of our country is: the social security burden is heavy and the funding gap is huge, the fiscal budget is 'food finance', and the stock of state-owned assets is still trillions. This is especially true in the northeast region, where there are 3 million retired workers, 1.5 million laid-off workers, and 1 million registered unemployed people in Liao'an, and 1.05 million retired workers and 1 million registered unemployed people in Xianglin. Therefore, it is a very realistic choice to promote the restructuring of state-owned enterprises and use the proceeds from the sale of state-owned shares to pay for the direct cost of restructuring and restructuring and make up for the gap in social security funds. I also do not advocate the direct transfer of state-owned shares to the social security fund, because this will make the financial responsibility of the social security fund management agency unclear (the government cannot distinguish which of the possible losses of the social security fund are "operating losses", which are the "policy losses" implied by the transfer of state-owned shares or caused by the inability to flow), and will also make the social security fund management institutions evolve into the 'second SASAC'. I advocate the establishment of a relatively independent social security budget, state-owned capital operating budget, and general budget of the financial sector, and achieve a balance of funds by establishing a standardized, clear, and constrained fund channel between several budgets. ”

This idea is relatively novel, but it involves a lot of faces, and the situation involved is also very deep, and several giants have been deeply immersed in it, and they have said that they will seriously consider the feasibility of this idea.

Xiao Chen can understand this statement, he didn't think that these people would immediately agree to such a big thing, and even if they really agreed, they still had to go to their respective provincial party committees to play a game before they could really be determined. He knows his own affairs, he Xiao Chen is not Xiao Fei, he doesn't say a word, the prestige of the world's Jingcong, he is a deputy minister, although he is in charge of this part, it is impossible to really clearly ask these feudal officials in front of him to do something, he can only try to influence their attitude.

He then continued: "Third, in accordance with the spirit of **, give the local SASAC more complete investor powers. With the establishment of local SASAC, local SASAC should have relatively complete investor powers, including the right to lead the restructuring of state-owned enterprises and the right to decide on the transfer of state-owned shares. Due to historical reasons, the Central State-owned Assets Supervision and Administration Commission still has the right to decide on the restructuring of some local state-owned enterprises and the transfer of state-owned shares, and this situation should be gradually changed. I suggest that it is best to start with the northeast region, so that the SASAC in the northeast region has a more complete set of investor powers, so that the local SASAC can vigorously promote the reform of state-owned enterprises through the 'camera disposal power' of state-owned assets. ”

Hou Dongxiang frowned slightly and said, "This...... Is it your personal opinion, or is it the opinion of the National Development and Reform Commission? Is the central government willing to delegate such great power? ”

Looking at the people who were also suspicious, Xiao Chen smiled: "Well, this is what my uncle and I both mean." ”——

When Xiao Chen held the phone and heard his aunt say that he was going to buy Apple Computer, he was a little stunned.

"What? You're not optimistic about Apple's future? The aunt asked over there, she asked very formally, which showed that she believed in Xiao Chen's judgment ability.

Xiao Chen knows that some things in this world may have happened a little earlier because of his little butterfly relationship, such as Google's listing. Originally, in that world, Google went public in the second half of 2004 in order to avoid direct competition with IT giants, but in this world, because of the existence of Xinlan, its listing was a full year ahead of schedule, and its stock price rose more exaggerated than in that world. Now that Google has only been listed for two months, its stock price has quadrupled, and the upward momentum is simply unstoppable, so that Wall Street was so surprised that it almost swallowed its tongue. And Xiao Chen knows that this is not scary, because the market value of Google in the future will be 200 billion! The unit is in USD!

It's just that Xiao Chen didn't expect that his aunt would think of buying Apple. But after the aunt asked like this, Xiao Chen suddenly found that he had indeed walked into a misunderstanding, Xiao Chen's previous companies that let his aunt invest in the holding were all wholly-owned acquisitions or absolute controlling acquisitions while those "future giants" were still in their infancy, and their fees were simply negligible compared to their future achievements.

Therefore, Xiao Chen ignored Apple. Apple is not a small company, even in 1997, the year Jobs returned to Apple, Apple was worth $4 billion, and now, in 2003, it is worth almost $6 billion. According to Xiao Chen's habitual view, such a company is naturally already a giant-level large company, and it is inconvenient to play acquisition.

On December 17, 1996, almost all major computer newspapers and magazines around the world published the news on the front page that "Apple acquires NEXT, and Jobs returns to Apple". At this time, Jobs was making a name for himself because his company successfully produced the first computer cartoon "Toy Story", and his personal worth had skyrocketed by more than $1 billion; Apple, by contrast, is on the verge of a desperate situation. Steve Jobs returned from the crisis at Apple, and the entire company was very happy. Even former CEO Amelio said in his welcome speech to Jobs: "We welcome back our greatest genius with the greatest ceremony of all ceremonies, and we believe that he will convince the world that Apple is the eternal innovator in the information industry." Jobs returned to his hometown with the dream of a "big career" in his heart. He told Apple followers: "I've always had a deep love for Apple, and it's a great honor to be able to once again design a blueprint for Apple's future." "This former hero has finally returned in anticipation!

In times of crisis, Steve Jobs boldly exerted the authority of CEO and made drastic reforms. He first reshuffled the board of directors, and then he did something jaw-dropping — putting aside old grudges, shaking hands with Apple's arch-rival Microsoft, forging the world's high-profile "Covenant of the Century" and striking a strategic, comprehensive cross-licensing agreement. As a result, Steve Jobs was once again featured on the cover of Time magazine.

Then, he started rolling out new computers. In 1998, iMac carried the hope of Apple, condensed the sweat of employees, and pinned on Steve Jobs' dream of revitalizing Apple, presented to the world. It's a brand new computer that represents a futuristic idea. The translucent exterior and the cookie-cutter monotony of a computer's taupe sè look like a space-age product, plus a glowing mouse, and a $1,299 price tag, are pleasing to the eye...... It is worthy of Apple's design, which is unconventional and extraordinary. For the sake of publicity, Jobs turned Descartes' famous quote "I think, therefore I am" into iThink, thereforeIMAC! This has become a classic case in the advertising industry.

The new product has reignited the hopes of Apple fans. What they've been waiting for for three years came along, and the IMAC became the hottest topic of the year. In December 1998, iMac was named Time Magazine's "Best Computer of 1998" and ranked "No. 3."

Then, the second-generation iMac, which has five types of fruit faces, red, yellow, blue, green and purple, is warmly welcomed by users as soon as it is launched. Launched in July 1999 in a blue and yellow form, the Book combines iMac's unique sleek style, the latest Wi-Fi capabilities, and all of Apple's advantages in the portable computer world to create a "removable iMac" designed for home and school users. In October 1999, iBook won the first place in the "American Consumer Laptop Market" and won the "Best Design of the Year Award" in the "1999 World's Best" selection held by Time magazine.

Under Jobs's reforms, "Apple" finally became profitable. When Jobs first took office, Apple lost $1 billion, but a year later miraculously made a profit of $309 million. When a fourth-quarter profit of $152 million, beating Wall Street's forecast by 38%, Apple's shares immediately climbed and finally closed at $4.65 per share in an uproar. Apple's share of the PC market has increased from 5% to 10%. 1

In 997, Steve Jobs was named the "Most Successful Manager". More and more industry peers agree with this view. Even Scully, who squeezed Jobs out of Apple in the first place, couldn't help but praise: "Apple's reversal is not a hoax, Jobs did absolutely a good job." Apple is starting to get back on track. ”

But Apple has been unable to salvage the general-purpose computer competition.

Jobs became a miracle, but that miracle will continue. He is always constantly surprising, both at the beginning and later, with his genius for computers; Approachable style; Brilliant creative brains; Great Goals; Unfazed leadership forms the core of Apple's corporate culture, and Apple employees revere him with a religious fervor. Employees even say to people on the outside: I work for Jobs!

Featured on the cover of Time magazine for the third time.

But Aunt just passed a piece of news, Jobs was hospitalized, Apple's stock price plummeted, and now it has fallen by about 10%, with a market value of only more than 5.2 billion, but according to the analysis of Aunt Xiao and her think tank, Apple has begun to revitalize, and if you can hold a large number of shares in Apple, you will definitely be able to make a profit.

Of course, Xiao Chen also thinks so, not only can he make a profit, but the profit in the future will be 44 times the current investment!

The incomparably strong Apple in the later generations after six or seven years, Xiao Chen still remembers it vividly. In a country with great material abundance like the United States, Xiao Chen only saw two things being robbed madly because of the short supply, that is, Nintendo's game console and Apple's iPhone. Not to mention queuing, ILL is also limited to one per person, and Apple mobile phones can only be bought two per person, so those who want to buy more have to queue up again.

At that time, Xiao Chen thought, this is a great company, in the most developed countries in the world, you have to grab its products!

Steve. Steve Jobs is the founder and head of Apple Computer. His life is full of legends, and he and Steve. Wozniak and the others created Apple Computer, but when Apple Computer developed to a certain size, he was kicked out of his company when he was in the prime of life; After many years, he miraculously returned to the company and gradually secured the throne of the head.

What's even more amazing is that in the limited years, he has led several of his companies to climb to the pinnacle of business in his field, creating a miracle of the perfect combination of three completely different fields of "computer, film, and music", so that people can enjoy the crystallization of science and technology and art at the same time, they have to marvel at the huge potential that people have!

Get to know Steve. Steve Jobs, the representative of the legendary figure created by American society, is not without benefit to understanding American society, understanding the kind of social environment that allows people to develop freely and innovate independently, and to build a harmonious society in our country.

You can take a look at these two small things.

The first, after dropping out of Delhi College at the age of 18, as a hippie, Jobs went to apply for a job at Atari, a video game company that was growing rapidly at the time. But what is surprising is that he was actually hired, and he only did some small things after working in the company. One day, he went to the chief engineer and asked for permission to go to India to meet the religious saints of India. And this kind of request was actually granted. Because the company had something wrong in the German game market at the time, the chief engineer asked the young hippie to drop by to India after solving the problems in Germany. So Jobs was able to go barefoot and in tattered clothes to India. When he came back, he was almost a different person.

The only thing that can explain Jobs's grotesque behavior is the inner turmoil and contradictions of his youth, which is that he wanted to be both a devout religious believer and an entrepreneur.

This kind of thing is almost unimaginable in China, just joined the company, the young man who has not done much for the company, whimsically wants to go to India? From this, we can experience the kind of relaxation and freedom in American society, and it is in this relaxed and free environment and atmosphere that people can let development without restraint and produce Steve. A genius like Jobs.

The second example is that Apple was already in existence at the time, and there were a lot of weirdos like Burrell in the company. Burrell. Smith is a small man of stature and a self-taught computer man. He started out working only in Apple's service department before someone discovered the computer geek.

He is unusual, bizarre, rather egotistical, and provocative, and is dismissed by the average computer designer. So even the other founder of Apple, Woz, didn't reuse him. It's just that Burrell has a super memory, like magic, and can firmly remember the complex and zero-luàn data in the circuit board design, and he will not forget it for a long time.

There are many such nobodies in Apple, Burrell is just one of the more typical ones, they have a fiery love in their hearts, and many companies may not be able to tolerate these nobodies, and it is these nobodies that have made Apple achieve incredible development.

In February 1982, Steve took members of Mackintosh's computer research and development team to a beautiful seaside resort to "recuperate". This R&D team gathered a lot of computer elites, but Steve did not follow the usual human resources practice for the psychological test of newcomers, but designed a series of questions by himself, these questions you may not imagine, two of them are: 1. How much did you smoke the illusion agent? 2. When did you lose your virginity?

Something that seems absurd and bizarre is not necessarily synonymous with bad, it reflects a kind of restlessness, jī emotion and uncertainty in the hearts of young people, and innovation and development require this kind of jī emotion and divergent thinking. And it is only with loose freedom that innovative thinking becomes a reality (with some auxiliary conditions, of course), and is not stifled at the beginning of the seemingly absurd.

The strength or frightening of the United States lies not only in its military, technology, and money on the outside, but also in its endogenous ability to create and innovate. It is with this most powerful foundation that it has been able to surpass the old imperialism and maintain its hegemony to the present day.

Xiao Chen has always felt that we now want to build an innovative country, turn Chinese manufacturing into Chinese creation, and realize the real rejuvenation of the Chinese nation, and the most urgent need is to create such a social environment and system, so that people can develop in an all-round way to the greatest extent, and let the wings of thought soar freely!

Xiao Chen has a respect for Apple, which even makes him forget that he can buy Apple! Now after listening to Auntie's explanation, Xiao Chen knows that Auntie now has enough resources in her hands and enough dollars to swallow this Apple empire with a future market value of nearly $300 billion into her stomach in one bite! ——

The weather has changed too much, chūn days are really easy to catch colds, I was hit, dizzy, I owe 2000 today, make up 4000 tomorrow, well, go for an injection tomorrow, 14000 words are about two 7000 words more out.

By the way, it's almost the end of the month, for the sake of my attitude of not being in the line of fire with a slight injury, ask for a monthly pass!