General Motors Headquarters, President's Office, Detroit, Michigan, USA

"It's a pleasure to meet you again, Mr. Smith, this is Mr. Gordon Gauc of Merrill Lynch, this is my boss, Mr. Chambers Fett, and I hope this is not a belated congratulations on being at the helm of the largest automobile manufacturing company in the United States...... A small gift is not a tribute" Jiang Yelin, as an old acquaintance, introduced his two big bosses to the president of General Motors, and gave a bottle of Johnnie Walker whiskey brought from New York.

"Hello, Your Excellency President, it's a pleasure to meet you, I hope our young man from Merrill Lynch didn't rude in front of you, I'm Gordon Geck...... "The president of GPC has more assets in charge than the new president of General Motors, GMI manages more than $300 billion in total customer assets, while GPC manages more than $75 billion in customer assets, compared to GM's total assets of only 60 billion, and net assets are only 18 billion, of course, Merrill Lynch, as the largest company in the securities industry, only manages so many assets, but the president of General Motors actually manages only the assets of shareholders.

"Warm welcome, just call me Francis, I'll call you Gordon, right? I said that your brother is a well-known big man in the investment bank, and I am very happy for you to come to the headquarters of General Motors, and I hope this is a beautiful beginning of the cooperation between the two sides! "The president of General Motors is more hospitable than expected, and of course more familiar, although Mr. Geck or Mr. Smith is the usual name for the first meeting between the two parties, or like Geco, calling each other's company positions is also a kind of respect, but the General Motors Smith has obviously regarded Merrill Lynch as his most important partner, so directly calling both parties by name like an old friend is also a heart-warming little gesture.

"Hello Mr. President, I'm Chambers Fett from the sales department of Merrill Lynch Securities Center, Django said that last time you didn't kick him out of the office because he was my assistant, I am really honored to hear it! You can call me Chambers...... I saw your picture on the front page of the New York Times, an interview with you when you took office as president and CEO of General Motors late last year...... I have to say that you have inspired the FAs of Merrill Lynch to have confidence in General Motors. “

Chambers Fett's witty words, humble attitude, and the level of compliments are absolutely first-class, compared to Geco's calm and generous, Fett plays more like a sales manager than the boss of the sales department, in fact, the general manager of the business department of Merrill Lynch Securities Center is almost the CEO of a first-class subsidiary in other investment banks, and his status is definitely not low, in fact, the name Chambers Fett is also quite famous and status in the securities industry, so his low-key and modest expression makes the president of General Motors feel quite good!

"Hello Mr. Fit, don't stand, please sit down, please sit down......" Out of politeness and respect for Gaico, Smith did not continue to call Chambers directly, for the executives of these well-known large companies, workplace etiquette and various insightful actions will not be very different, Smith directly called Gordon to show that he and Gordon-Geko are familiar at first sight, as for Chambers Fit, the weight is obviously much lighter.

After the guests and hosts sat down, greetings and crowds similar to New York, the weather in Detroit, the NFL game last night, and even the golf level of Smith and Geco who was higher and who was bottom, etc., compared to these calm old foxes in the shopping mall, in the end, it was Jiang Yelin, the little character, couldn't help but say directly,

"Mr. Smith, I heard that Saturn Motors, a subsidiary of General Motors, plans to spin off and list separately for IPO, I wonder if Merrill Lynch can become the lead underwriter? That's my first priority as I fly with Mr. Geck and Mr. Fett early in the morning, and of course we want to congratulate you on the progress you have made on the board, but we do want to get what we want from you! ”

"Well, Django, the young man is too anxious, please bear with me if you are rude, Francis, I came to meet with you, as for the business matters, it is naturally the best, if it doesn't work, the transaction is not in favor of people, but Merrill Lynch is the industry's No. 1 investment bank and brokerage, I believe General Motors will not let us down, right? Francis. "GPC's words are very artistic.

Chambers-Fett continued, "Mr. President, Merrill Lynch has rich experience and excellent performance in IPO underwriting, Saturn Motor Company's IPO list with us as the lead underwriter, I believe it will bring a huge surprise to General Motors, which we have full confidence and certainty, if the IPO will be successful, then it is the best choice to hand over to Merrill Lynch, if the IPO may encounter difficulties, then it is still your best choice to hand over Merrill Lynch!" ”

"Of course, I know what you mean, Django is the same age as my daughter, but the two of us really hit it off at first sight, and I didn't expect him to bring you with him the next day after he returned...... Merrill Lynch I naturally trust, however, things are still a little more different than before, as you know, because of the Saturn car spin-off and listing motion, caused a huge disagreement in the board of directors, although after mediation and emergency consultation, the former chairman Mr. Smail announced his resignation, but the person who took over was not me, the president, but the director of the UAW, the largest shareholder, Owen Bieber, he is now the new chairman, so which brokerage is the IPO business handed over, There are still certain disagreements! ”

As soon as Smith said this, Geco and Fit were a little surprised, and their eyes invariably turned to Jiang Yelin on the side, but Jiang Yelin was not flustered, and asked with a slight frown, "Mr. Smith, although General Motors has a new chairman, the daily operation and management of the company is still within your purview, right?" Merrill Lynch is the best choice for Saturn Auto IPO, this is not our boasting, whether from the total amount of underwriting financing in recent years or the number of IPO listed companies, Merrill Lynch is a lot higher than other competitors, is it under this condition, you can't convince the board of directors? ”

"Well, having said that, Bieber has just taken over as chairman and has unreservedly supported the work of the current senior management before that, so if he has his own ideas as chairman, I, the president and CEO, really can't do anything, right? Mr. Ye, you also know that UAW itself is the largest shareholder of General Motors, so things are more tricky, I am afraid, I can only take the way of public bidding to choose the lead underwriter, my difficulty, I hope Merrill Lynch can understand, of course, under the same conditions, General Motors will give priority to cooperation with your company...... That's all I can say at the moment......"

Smith's eyes seemed a little guilty, but what he said was also reasonable, the dark box operation will obviously give the outside world unlimited room for reverie, since Merrill Lynch is the industry's No.1 investment bank and brokerage, why not be afraid of competition? The fact that the president of General Motors was able to promise in front of the two Merrill Lynch executives, Geco and Fit, that Merrill Lynch would be given priority as long as the conditions were the same, and this blank check could be justified on the scene no matter what, and as for the agreement reached privately by Smith and Jiang Yelin when they met at the hotel the night before, it was obviously not suitable for being put on the table.

"Okay, I see that we have fully understood the idea of General Motors, Merrill Lynch is not afraid of any competition, as long as this competition is on the basis of openness, fairness and justice, Mr. Smith, it is a pleasure to meet you, I believe in the follow-up bidding, Chambers Fett and Django Ye as representatives of Merrill Lynch Securities will seriously negotiate with your company, but there is a sentence I still want to remind Your Excellency, Binggui is fast and dreams are long, I hope you have the opportunity to visit Merrill Lynch headquarters to visit Wèn, I will warmly welcome you at that time!"

Gordon Geck's face was as usual, and after a few words of greeting, he got up and shook hands and said goodbye, Chambers Fett's face was more embarrassed, he originally thought that the wonder boy Django Ye really came to Detroit single-handedly to get a qiē, but he didn't expect to touch a nose on the side of the president of General Motors, and the other party did not enter the oil and salt basically always in a polite greeting, saying that Merrill Lynch Securities should be given priority under the same conditions, joke, since it is a bid, if General Motors dares to operate in a black box, it will be sued by Merrill Lynch Securities to the SEC, but it can't eat and walk around!

Smith sent Merrill Lynch and his party to the door of his office, as if he had completely forgotten the tacit understanding he had reached with Jiang Yelin, but Jiang Yelin also calmed down, as if there had never been a tacit understanding between the two sides, Wall Street is a place where people eat people and don't spit out bones, only interests are the focus of competition among all parties, and these things are just tricks, Jiang Yelin speculated in his heart, or Smith exchanged chips with others in the previous board earthquake, Either that, other competitors gave Smith an unrefusable condition for the launch of the Saturn car, hmph, we'll see!

Gordon Geco took care of everything, and really left Chambers Fit and Jiang Yelin in Detroit to strive to win the big order of Saturn Auto IPO, when the two of them sent their top boss to the airport, Geco finally spoke, "Chambers, Django, Saturn Auto listing is very important to Merrill Lynch, and it is also very important to GPC and myself, I will give this task to the two of you, you can apply for the company's resources that need to be mobilized, I just need the result, That is, Merrill Lynch must be the lead underwriter of Saturn's listing plan, you know?! ”

"Boss, don't worry, it's not the first time I've met this kind of guy who crosses the river and demolishes the bridge, Django and I will risk our lives to take this list down, isn't Django?" Chambers-Fett's face was resolute, he knew that Geck was disappointed this time, and asked the Boss to go all the way to Detroit but didn't bring anything back, Geko was already quite a city government to give himself face without getting angry, of course, he didn't believe that Merrill Lynch would lose this opportunity, but the difficulties were greater than expected.

"Mr. Geko, today's result is indeed a bit unexpected, but this is fine, we have to defeat our opponents with dignity, so that everyone has nothing to say, if the Saturn car can't get this order, I will take the blame and resign!" Jiang Yelin finally made a statement.