Chapter Seventy-One: The Economic Crisis
Xie Xinhong breathed a sigh of relief, and at his own insistence, the board of directors finally agreed to the proposal to invest more in the scale of production, and most importantly, decided to increase the amount of investment in the Chinese market. Pen & Fun & Pavilion www.biquge.info
It has been 3 years since he took the helm of the company, and with his own efforts, the entire family business has finally recovered and begun to move towards a bright road.
There is no right or wrong in business management, only victory and defeat, and this sentence that my grandfather said before his death has always been one of the principles of his management. When the Battle of Hong Kong was defeated, the old man of the Xie family took full responsibility, and his spirit was deeply affected and he died of illness soon after. Before he died, Xie Xinhong was officially promoted to the position of the family speaker, but as a transaction, the board of directors had some more opposing seats, which were used to contain Xie Xinhong from being able to make arbitrary decisions.
Relying on the encroachment of some competitors in Southeast Asia, Xie Xinhong dispelled the suspicion of others with his excellent management ability, and his reputation within the company is flourishing.
The Xie family's main industries are rubber, paper, and beverages, and they are all well-known trademarks in Southeast Asia. The Chinese element is now hot all over the world, so he intends to enter the Chinese market in a big way. Looking at the world, all powerful companies have entered China, so Xie's enterprises should also take this boat. However, his proposal was met with opposition from shareholders, as it was assessed that it was risky to expand into the Chinese market. Soon, these problems were quickly solved under the premise that a major customer was found to sign a contract to guarantee at least 30% of the annual income.
In the context of globalization, the rational use of the world's resources and the integration of capital operation means are enough to create a formidable giant enterprise. Xie Xinhong, who graduated from a business school in the United States, has always been dissatisfied with his family's conservative and partial operation in Southeast Asia, and if he had been bold and took a bigger step, Hsieh's company would have been able to enter the ranks of the top 20 richest people in the world. His goal is to build Xie's enterprise into a global large company, the boss in the same industry is fed, the second is fed, and the third is down, so he hopes to be able to be the top two in the world in its three pillar industries. Therefore, when the company recovered, he couldn't wait to start the global layout, and China, a rapidly developing market, was the key position for his success.
Grievances with the Wang family, Xie Xinhong will have to settle accounts sooner or later, after all, this not only caused him to lose his beloved grandfather, but also humiliated the Xie family. Wang Yaxuan, the girl he liked when he was a child, has married another woman, Xie Xinhong is even more resentful of the Jiangnan Group that intervened at the beginning, it not only robbed him of his money but also robbed his woman. It's just that he won't mention these thoughts to anyone, but silently bury them in his heart as a hatred and motivation to motivate him to move forward.
His right-hand man, Hsieh's college classmate, American Mike Tang, is looking for investment in the United States, and as a private financial advisor he gives him a lot of critical advice. In the past 3 years, Xie Xinhong has been able to lead the family business out of the mud pond, and Mike Tang has contributed a lot. At present, Mike Tang is planning a plan to annex the fourth largest competitor in the rubber industry, if it can be realized, then it will definitely be able to surpass the current industry first, and Xie's enterprise will become the real leader.
Mike Tang brought back good news from the United States, he found an investment bank to help with the merger, and only the other party proposed a VAM agreement, if the company could not achieve a certain goal in 3 years, then it would lose a controlling stake in the company. But if it is done, their investment will be exited at the market price of the stock.
In today's good situation, Xie Xinhong can't think of a reason why he can't achieve this set goal. A very fair proposal, Xie Xinhong strongly signed this agreement.
At the same time, Mike Don also brought good news, another classmate from their university has a very good investment plan recommended to him, which looks very good, as long as the global economy continues to grow, then it is guaranteed to be profitable.
Xie Xinhong has enough pride to teach his grandfather by word and deed since he was a child, and he has a deep understanding of the development direction of the enterprise. Now is the time to do it quickly, as long as he is given another 3 years, then Xie's enterprise will definitely change greatly and go to a great level. The past few years have proven that his instincts are exceptionally accurate, and his persistence pays off for the business.
Therefore, he is fully optimistic about the future world economic form, and personally signed a number of huge investment guarantee agreements, because as long as this hurdle is passed, Xie's enterprise will become a global giant, and he may also be inducted into the hall of fame of his alma mater, leading the family business out of the mud to a brilliant business example, which will be entered into the textbook for future juniors and sisters to read.
Qin Ran has a part of the money from the stock market into this trap specially set for Xie Xinhong, from a business point of view, all contracts are above board, but Xie Xinhong chose the positive, and Qin Ran chose the negative, it depends on who is in the right direction for the future economic forecast.
At the end of 2007, the entire world economy was still thriving, the Dow Jones Industrial Index of the United States broke through the 15,000-point mark, China's Shanghai Composite Index also exceeded 6,100 points, and the global stock market ushered in a big bull market driven by the two major economies.
In 2007, the company's revenue doubled, especially in terms of capital operation, and Xie Xinhong's prestige was further enhanced. The past year has proven his unique vision, and the Board of Directors continues to agree to his request to expand the investment.
At the end of 2007, another major event was that China achieved a collective change of central leadership, and Li Zhiguo was directly promoted from the post of secretary of Hudong City to the Central Committee as a member of the Standing Committee, marking his position at the top of the power pyramid. Compared with Li Zhiguo's official appearance in front of the people of the whole country, Li Ruixian is becoming more and more low-key, and all news reports about him are required to be handled in a low-key manner, deliberately downplaying his family identity. Wholeheartedly serving the public, insisting on doing things for the people, and not considering personal gains and losses, this is the last requirement of the old man of the Li family to his grandson Li Ruixian.
Due to old age and frailty, the old man of the Li family suffered from complications of wind and cold in early 2008 and completed his glorious revolutionary career, and the Li family held a funeral ceremony at a low level, which was also the request of the old man. Now that the old Li family has passed away, the new one has taken over, and he still maintains the demeanor of the top red giants in China. Naturally, there are many people who take the initiative to come to the door to talk to them, and the Li family deliberately lowered the specifications and held a funeral ceremony on a small scale. As a revolutionary pioneer, Mr. Li's death was naturally decided by the central authorities, and the announcements published by the major central media made a very high evaluation of his revolutionary career.
Ye Linghan knew the news of his beloved grandfather's death, and hugged Qin Ran's shoulder and cried for a long time, so Qin Ran deliberately asked for a few days off to accompany her at home. Due to the plan to hide from the sky and cross the sea, Ye Linghan could not go home to worship openly, so he made an altar in his villa and looked at his deceased grandfather from afar. Although she recognized her goddaughter, at this critical juncture, people who came in and out of the capital were famous and surnamed, and Ye Linghan was easy to recognize, so she didn't go home considering the overall situation. After staying for a while, she planned to take her daughter Qin Yezi to the tomb with Qin Ran to worship again. Qin Yezi has already met his grandfather, and Old Man Li is very fond of Xiao Yezi, and personally gave her a bracelet, which is now being worn on the child's hand. Ye Linghan lived happily, and Old Man Li had no regrets, and before leaving, he still instructed Li Zhiguo and Li Ruixian to take care of this little girl who grew up.
In mid-January 2008, two hedge funds under Bear Stearns announced bankruptcy and liquidation, kicking off the U.S. subprime mortgage crisis. Soon, almost all U.S. financial companies were involved in the crisis, including loan companies, investment banks, hedge funds, insurance companies, and other financial institutions. The Dow Jones Industrial Average began to plummet, and soon spread from the United States to major economic players around the world, and China's A-shares began to turn from a bull market to a bear market, and the index plummeted.
The crisis began to spread from the financial sector to the real sector, and the three major automobile companies in the United States, General Motors, Ford, and Chrysler, all fell into the cloud of bankruptcy, and even Toyota, which had been profitable, suffered losses for the first time in history. The prices of industrial products such as oil, gold, iron ore, and rubber began to fall sharply, and China's economy was infected by the United States and changed to cold symptoms, the global economy fell into a panic, and an economic crisis that swept the world finally came. Even though many governments have injected huge sums of money into the financial markets, they still cannot prevent the spread of panic in the market, and the financial crisis is still expanding and breaking out further out of control.
Even if Xie Xinhong has great ability, he can't organize the spread of the economic crisis, and his previous vow to expand aggressively has been further amplified in the face of the crisis, and in half a year, Xie's enterprise is about to go bankrupt. The partners who had promised to buy the products had gone bankrupt and liquidated, the M&A plan that had borrowed heavily to finance the merger had been shut down in a crisis just after it was paid, and the investment funds of the family bank were also lost in the financial crisis with the bankruptcy of the Bank of America.
To make matters worse, all of this has been exposed to the public by the media, and the company's stock is falling every day, and the entire family business can no longer afford to stabilize the stock price. Faced with the bank's debt collection, creditors coming to the door, the company's factory employees marching on the streets, and the government has hinted at the news that the company is about to take over, Xie Xinhong suddenly felt so tired. He couldn't understand why everything was so good when things suddenly changed.
In the face of the chaos of the enterprise, under the pressure of the board of directors, Xie Xinhong had to take the blame and resign as chairman. During these difficult days, Xie Xinhong indulged in alcohol and women, and only in this way could he temporarily forget the pain of failure.
The Wang family, who are far away in Indonesia, are also not having a good time, they have also lost a lot of assets and fallen into bankruptcy.
When everyone else was in deep economic crisis, Qin Ran had a plan to take advantage of the fire to rob. (To be continued.) )