0756 Ike? Perlmut
[For the sake of last month's update, I can finally ask for a monthly pass, a recommended ticket, and a reward with a shy face! ] Kneel and beg! 】
This time he came to New York, of course, Song Chen didn't make a special trip to accompany the beautiful concubine here to relax, or by the way, he slapped the "face" of the Samsung Li family, he had more important things to do!
After having lunch with Li Yinxin's mother and son, Song Chen sent Li Yinxin back to the Waldorf Astoria Hotel where he stayed to rest, and he was led by the hotel waiter to a low-key and luxurious living room - unexpectedly, the person he was going to meet this time had arrived fifteen minutes early!
Seeing Song Chen, the other party stood up from the sofa, took off his hat and made a hat off salute: "Good afternoon, Mr. Song!" ”
"Good afternoon, Ike? Mr. Perlmut, I am glad that you have accepted my invitation! Song Chen handed his hand to the other party.
Ike? Perlmut smiled slightly, shook Song Chen's hand, with a trace of solemnity in the depths of his eyes, and said in a thick Israeli accent: "This is my honor, Mr. Song!" I'm sure the majority of CEOs in the world will listen to you! ”
"Including you?" Song Chen asked with a smile.
This was meant to be a joke, Ike? Perlmut nodded very seriously and shyly. As a CEO who has just pulled the company out of the mud of bankruptcy liquidation, he is shouldering unimaginable ridicule and tremendous pressure at this moment!
"Marvel Entertainment is cool, but undervalued; Leaders are visionary, but under pressure! That's why I came to New York, and that's why I asked you to meet you! Mr. Perlmut, you only need two things, money and support! [Note: Marvel Entertainment is also known as Marvel Entertainment, here for convenience, it is unified as the familiar Marvel]
That's right! Sitting opposite Song Chen is the CEO and Chairman of the Board of Directors of Marvel Entertainment, and the largest shareholder of Marvel Entertainment!
Ike? Perlmut has dark skin and a tall, thin build. Character with Apple's Steve? Steve Jobs was very similar, low-key, pragmatic, sometimes tireless, and "always thinking about things, one thing after another."
Ike? Perlmut arrived in New York with only $250, but he quickly showed his entrepreneurial flair: Standing outside a Jewish cemetery in Brooklyn, he made the most of his Hebrew status to lead the way for grieving mourners for a fee.
After meeting his future wife, Laurie, at the summer resort of the Catskills. Perlmut embarked on a business path that began by selling toys and beauty products on the streets of New York, but soon discovered that there were high profits to be made by selling overstocked merchandise and tail goods.
Perlmut never went to college, but he taught himself how to read balance sheets and became a master at finding opportunities in struggling companies, which made him a rich man.
Perlmut's bargaining power often led to conflicts, and in 1984 Perlmut acquired a majority stake in Revco after selling his store to the pharmacy chain in order to gain control of Revco. Perlmut decided to challenge management and got into a dispute with the board.
Four years later, when Perlmut acquired Coleco's senior bonds shortly after it filed for bankruptcy, the bondholders of which had priority claims over other bondholders, came into conflict with creditors.
Early 90s of the last century. Together with Arad, Perlmut ran ToyBiz, a toy company whose products were derived from Marvel Comics' character and required authorization from Marvel Comics, which was later merged into Marvel and named Marvel Toys. Perlmut served as the board of directors who began to enter Marvel and also entered Marvel Entertainment.
At the time, Marvel Comics was on the decline. Because it's being targeted by two murderous and greedy corporate hunters! First of all, Ron? Perelman, he's a corporate sniper.
In January 1989, Ronald? Perelman's acquisition of Marvel Entertainment Group for $82.5 million; Of these, $10 million came from his pocket, and the remaining $72.5 million was borrowed.
In July 1991, Marvel (stock symbol MRV) went public and went public, and Perelman made a profit of $40 million and retained 60% of the shares.
The period from 1992 to 1995 was Marvel's unbridled expansion, with Marvel spending $590 million to acquire credit card company Fleer and entertainment sticker maker Skybox, with funds borrowed from a banking group led by Chase Manhattan.
It was also during this period that Perlmut and his buddy Ive? Arad's toy company in Ronald? Perelman received a perpetual license to Marvel's characters with his support, and Perlmut joined the board of directors of Marvel Entertainment.
In return, Marvel Entertainment Group will receive 46% of Toybiz's profits, which is equivalent to the consolidated financial statements of Toybiz and Marvel Entertainment, and Marvel Entertainment shares will rise to $37.
From 1993 to 1994, using sky-high stock prices as collateral, Perelman sold Marvel's "high-yield notes" in three batches, and due to Perelman's clever set-up, the high-yield notes later became junk bonds, so that Perelman Hou Lei was accused of "unjust enrichment" and lawsuits continued.
From 1995 to 1996, Marvel had its first loss year, and in 1996 the market was weak, sales contracted sharply, and Marvel's finances began to deteriorate dramatically due to competition with DC Comics and heavy bank debt. TO MAKE MATTERS WORSE, A GROUP OF VETERAN AUTHORS LEFT TO CREATE THE COMIC COMPANY IMAGE, AND IT'S ALMOST A VICIOUS CIRCLE!
In November 1996, major shareholder Perelman offered to save the company with a $350 million injection, but only asked the board of directors to give more equity, and did not make any decision-making suggestions for Marvel. It was during this period that the corporate sniper Karl, known as the "Wolf of Wall Street"? Icahn [yes, the same one who advocated that Apple's stock price should be doubled from now, and who had just directed the spin-off of EBAY and PayPal] became interested in Marvel and began buying corporate bonds for a very low price [20 cents].
On December 27, 1996, Marvel went into bankruptcy liquidation, and in the court of Wilmington, the United States, Perelman's Marvel bankruptcy protection was obstructed by bondholders. Icahn wins, Perelman loses.
Marvel's catastrophe isn't over yet!
On June 20, 1997, Icahn became chairman of Marvel Entertainment Group. Icahn is just a capital player and doesn't know anything about the comics and toy industry! Cal? Icahn vs. Ronald? Perelman's negotiations, the bank's lawyer and Carl? Icahn's negotiations, the director zhì Marvel Entertainment was very panicked at the time!
Worried, Perlmut tried to convince Karl? Icahn moved into the film production in order to revive interest in the superheroes created by Marvel Entertainment. Cal? Icahn did not listen to his advice, and the shape continued to deteriorate.
In December 1997, a federal judge dismissed Carl? With Icahn's appointment as Marvel CEO, negotiations have become more complicated.
In June 1998, Karl? After six months of stress on Icahn, Ike? Perlmut miraculously won the support of a federal judge on behalf of Toybiz, and in October a new Marvel company was formed. Perlmut serves as CEO and Chairman of the Board, Avi? Arad as COO, Karl? Icahn opted to sell his stock and exit Marvel Entertainment entirely.
This is about Marvel's control rights, which was called the "comic book war" by the American media, and this is the official end! [Note: The above information is translated and sorted out by English information, which looks blunt and somewhat plausible, but it is the only information I have]
But, Ike? Perlmut's control of Marvel Entertainment does not mean that Marvel Entertainment can return to the height of occupying 70% of the comic book market at its peak, compared to DC Comics backed by Time Warner, Marvel Entertainment first requires survival!
For this, Ike? Perlmut had to sell the company's characters to other media giants, starting with the Fantastic Four and X-Men, and selling the rights to Twentieth Century Fox; Spider-Man was sold to Sony, and there are a lot of second- and third-tier comic book characters!
So, there are entertainment media accusing Ike? Perlmut is in a hurry to achieve quick success in business and lacks enough patience!
Ike? Perlmut felt that he wanted to, if it weren't for the fact that the previous two had overdrawn Marvel's vitality and were also burdened with huge debts from the banking syndicate, he would have to use various ways to get his finances back to a healthy state.
Song Chen said that he needed funds and support, of course, the funds didn't need to say anything, and the support could be called a naked hint - he wanted to buy Marvel!
Ike? Perlmut has not considered selling Marvel Entertainment, but first, the market value of Marvel Entertainment is low, and there are many bearers in the capital market, except for himself, no one is optimistic at all! Second, he was not particularly confident in his long-term strategy, and after hearing Song Chen's hint, he couldn't help but breathe a sigh of relief.
But he soon woke up, and while secretly blaming himself for his timidity, while hiding his feelings, he said in a deep voice: "Mr. Song reads comics? ”
Song Chen looked at the other party's complex and changeable expression with interest, and he asked instead of answering, "What about you?" ”
Permut groaned slightly, then shook his head briskly: "Before I took care of Toybiz, I didn't even know what Marvel was doing!" The comics are not even touched! The reason why I am optimistic about Marvel is because I believe that the superhero characters created by the historic Marvel are very popular, and I hope to get the authorization of Marvel Entertainment to sell more superhero toys! And, of course, movies! ”
"Like you, I ...... manga" At this moment, Song Chen thought of Kishimoto's "Naruto", and he said slowly, "I still liked it when I was a child, but the Chinese government has strict control over the cultural industry, and the Chinese animation industry was almost devastating in the early 90s, so that the comics that our generation came into contact with were mostly Hong Kong comics, and there were almost few American comics!" ”
"Then how did you become interested in Marvel Entertainment?" Perlmut was incomprehensible. (To be continued......)