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In the United States, Mountain View, in Chenxing Park, there are only Song Chen, Zhai Yan, Zhang Ruoxi, and Eric? Schmidt, Joe Tsai, Andrew? The meeting, which was attended by seven people, Freman and Wang Xiaoxue, was going on in secret, and Tsai Chongxin and Wang Xiaoxue, who were far away in China, participated in the meeting by encrypted video phone.

“…… Second, in order to allow listed companies to participate in the ranks of stock repurchases and help the US government fight against the bears, the US Securities and Exchange Commission temporarily lifted the regulations restricting listed companies from redeeming their shares, and is willing to provide low-interest loans to listed companies to buy back shares, so as to support the stock market against the negative impact of the 911 terrorist attacks. ”

Song Chen nodded and asked in a deep voice, "Very good!" This looks like a good opportunity, when does the NASDAQ open? ”

Zhai Yan replied: "September 17th, that is, three days later! ”

Maybe he hasn't woken up from the grief of 911 yet, Andrew? The wrinkles on Freeman's face deepened, and he said in an unusually sad tone: "For the country, 911 is a huge tragedy, since the government has called on enterprises to actively rescue the market, we should respond to the government with a more proactive attitude!" ”

Zhang Ruoxi glanced at him and asked in very fluent American English, "Freeman, what do you mean by active posture?" ”

Andrew? Freeman said lightly: "The government is satisfied with borrowing money from the bank to buy back the outstanding shares of 8848, Ctrip.com and Chenxing.com. We recouped more shares at a lower price with lower loans, and shareholders benefited from the buyback program. Everyone's happy! ”

Wang Xiaoxue asked, "Do you need to borrow money from the bank?" Don't the Big Three companies have their own share buyback plans and budgets? ”

Cai Chongxin shook his head and smiled: "Borrowing money when you don't need it is the most reasonable way to manage funds, I agree with Freeman's opinion!" ”

A few fingers of his right hand tapped slowly and regularly on the table, and Song Chen said while thinking: "The matter of communication with the government and the bank will be arranged by the strategic planning office, Chongxin, you will go to Tokyo on my behalf!" ”

Cai Chong confidently comprehended and said, "Do you want to talk to Mr. Sun Zhengyi?" ”

The NASDAQ crash has already squeezed more than 9o% of the bubble of SoftBank Group, and the 911 incident will certainly rub salt in the wounds of SoftBank Group, but for Son himself. In fact, it doesn't matter how much lice don't itch!

Song Chen said with a smile: "Ask this old fox about his plans, he is too busy to take care of himself now, and he shouldn't mix a single piece of sand, but it's hard to guarantee that he is really idle!" The best result is that he threw out all the shares of 8848 and Chenxing Network in his hand, saving me from watching the equity in his bowl and wondering how to get it back! ”

All seven people in the room were smiling.

"Of course. I know it's impossible! Song Chen pursed his lips, and then said to Zhang Ruoxi, "Huasong Fund also asked Yu Wenjie to prepare to acquire the shares of listed companies, but pay attention to keeping pace with the group, so as not to cause unnecessary capital loss!" ”

Zhang Ruoxi nodded generously: "Okay!" ”

Song Chen then said to Zhai Yan: "The repurchased shares do not need to be cancelled, they will be put as treasury shares first." Take out a part as an option reward to the outstanding employees of this year's table! As for the selection criteria, the Strategic Planning Office, the Nomination and Remuneration Committee will discuss with the relevant CEOs to come up with a specific plan, and if there are no problems, hand over the list to me! ”

"I see!"

After Wang Xiaoxue and Cai Chongxin went offline, Song Chen did not say anything to Eric again? Schmidt said: "911 is a typical political disaster with far-reaching consequences! We will ignore it for the time being. But for the affected groups, especially those who are less financially able. Stay tuned! In addition to opening some public welfare products, the group should also appropriately donate or donate materials to charitable organizations, in what way is more reasonable, you can talk to the leaders of charitable organizations! In short, in this matter, it is too thin to just let paypaL replace the entire group, and our entire Chenxing Group should exert its influence! ”

Eric? Schmidt said yes.

"What about the Huasong Fund? Do you want to come forward together? Zhang Ruoxi rarely attends the company's meetings, and today is the first time to make a public appearance in the American Chenxing Group.

"A group is a group, a fund is a fund!" Song Chen shook his head, "Huasong Foundation opens a charity account separately, and also negotiates cooperation with charitable organizations separately, whether it is Chinese or American charity in the future, it will be done in this way, and the two lines are separated!" ”

It is said that Asians are conservative and introverted, and there is no distinction between public and private, which seems biased! Eric? Schmidt vs. Andrew? Freeman looked at each other, a little surprised.

"I see!"

Song Chen nodded, looked at Zhang Ruoxi and said softly: "Ruoxi, after the meeting, you let Wen Jie come to my office, I still have one more thing for him to do!" ”

Zhang Ruoxi was slightly stunned, looking at Song Chen's serious eyes, she nodded silently.

……

"Chairman, are you looking for me?"

When Yu Wenjie, who was wearing gold-rimmed glasses, knocked on the door and walked into Song Chen's office, there was not only Song Chen's storage zài in the office, but the other person Yu Wenjie was not unfamiliar, but it was not familiar either, to be exact, they were all the same kind of people.

David? Drummond, the legal officer of the American Chenxing Group, who has attracted much attention for violently attacking the Louisiana government in the 99 paypaL regulatory turmoil, has also been trusted by Song Chen, and is currently fully presiding over the legal affairs of the American Chenxing Group.

"You've all met each other, so I won't introduce you! Wen Jie, sit! "In David? In front of Drummond, Song Chen did not use Mandarin, but communicated in English without discrimination.

"Yes!"

After Wenjie sat down, Song Chen bluntly said the purpose of summoning Yu Wenjie this time: "During this time, I briefly learned about the asset management method of family trust, which is popular in Europe and the United States, and before making up my mind, it is necessary to discuss this issue with the two professional personnel!" ”

Family trusts?

Yu Wenjie raised his eyebrows and said: "The establishment of Huasong Fund essentially belongs to the financial management ideas of family trust holding enterprises? Is the chairman ready to start anew? ”

"No!" Song Chen shook his head, "Huasong Fund will still control most of the assets under my name in the form of trust in the future!" However, given that my family is more complex than others, I would like to take advantage of the weak international economy to set up another wealth insurance policy for each of my next generations! ”

David? Drummond glanced at the boss in surprise and asked, "What does the boss mean?" ”

"Family trusts are a great way to manage assets!" Song Chen stood up and stood in front of the bed with his hands in his hands, his bright and handsome silhouette formed a faint shadow under the light, "But in this way, it is inevitable that there will be a big pot of food in the future, I must make sure that my children have another income in addition to the Huasong Fund, which is completely their own trust plan!" When they reach adulthood, they will be able to fully deliver the trust assets to themselves! ”

The main advantage of a family trust holding company is that it can effectively concentrate equity and help future generations maintain the special assets of the family and the enterprise.

But the family trust is not completely so good, and the reason why Song Chen has such a worry is also because the Kwok family of Xindi [Sun Hung Kai Properties] will fight for the inheritance in the future, which gave him this worry!

As far as he knows, the Kwok family holds a 42% stake in SHKP in the form of a trust fund, of which Ms. Kwok and her three sons are the beneficiaries.

SHKP founder Guo Desheng set up the trust fund because he hoped that his three sons would advance and retreat together, so he set the clause "shares cannot be sold"! However, contrary to his wishes, Guo Desheng's three sons had different dreams in the same bed and fought for his inheritance, and under the framework of the trust fund he set up, the three brothers could not resolve the dispute by dividing the family.

Under this impasse, the three brothers went to court for the control of SHKP, and after a long period of turmoil, the stock price of SHKP fell sharply, until his mother came forward to stop the dispute, and the incident was temporarily stopped, but the matter was never resolved!

This is a big side effect of family trusts! Another side effect is that in addition to the difficulty in resolving family disputes, family trusts may also lead family members to go to great lengths against the company.

Generally speaking, when an economic resource is shared by family members, members tend to scramble to claim it for their own personal gain, which leads to the worst-case scenario of overuse and premature depletion of resources.

It's like the fish in the lake, which is a common resource for everyone in the lake, but the residents tend to catch them as early as possible, fearing that if they slow down, they will catch less. With this in mind, due to overhunting, future inhabitants will have no fish to catch.

A similar situation may arise from the assets of a family trust. The assets of the trust, including the family business, are jointly owned by current and future family members, but current family members may be inclined to withdraw their resources as early as possible in various ways while ignoring the long-term development of the business.

When there are more and more family members, this situation of exhausting and fishing becomes more and more serious, and Song Chen can't help but worry!

How to avoid possible family disputes affecting the company's operations and reduce the adverse impact of the design of the bundled holding mechanism on the family business, the entanglement of interests of the SHKP Kwok family is undoubtedly worthy of reflection for Song Chen, although the matter of the three Kwok brothers has not really happened.