"Really?" The director named Mick was slightly moved, stared at Schwartz carefully for a moment, and then asked in a solemn tone, "Alan, are you sure this matter has nothing to do with us?" Also, what kind of insider trading is Mr. Chung accused of? ”

Schwartz looked at him, then at the other anticipatory directors, nodded calmly, and replied, "It really has nothing to do with us." According to information from Stanley, Mr. Zhong was involved in the buying and selling of their stocks, and it is said that it was also related to the work mistakes of an executive, so he was targeted by the SEC. ”

As he said this, everyone breathed a sigh of relief, saying that it was impossible to be targeted by such a figure without pressure, especially when the other party was not buying but suppressing. It's just that their ease hasn't lasted long, Alan. Schwartz poured cold water on them, "Gentlemen, please return to the topic we just discussed. Now we are in a much worse situation than Mr. Chung, and if we don't have enough cash, I'm afraid we won't be able to last long. ”

Just days after the Financial Times broke the news that Bear Stearns might be in the grip of a liquidity panic, investors from all over the world demanded to redeem the cash in their Bear Stearns accounts. Although Bear Stearns has tried its best to retain it, the other side seems to be determined to not listen to Bear Stearns' explanations, and the result is that Bear Stearns' cash reserves have lost a staggering amount of $80 billion during this period.

"Isn't there still 60 billion in cash reserves?" Hunter rolled his eyes and said nonchalantly, "Take it easy, Alan, although you have not been in this position for a long time, we have absolute confidence in your abilities. Now the question is. We have no way to refuse if they withdraw the funds, as long as we can make up the funds in a timely manner, and similar things have not been experienced. On the contrary, I think the most important thing is not the loss of cash flow, but the fact that the stock price has fallen so much that it is no longer attractive to investors. So I strongly recommend that you make raising the stock price your first priority, rather than worrying about so-called market rumors. ”

Huntel's words hit the hearts of most of the directors, because it was directly related to their net worth, so they nodded their heads frequently to show their approval, even the director named Mick.

The shareholders are represented by the board of directors, and Allen. Schwartz is a professional manager, and the two parties are not of the same class and have different interests from each other, so there is a risk of moral hazard. This was discovered decades ago in management. The solution to this moral hazard problem is also very simple, that is, to include professional managers in this class, to attract them with a part of stock dividends or options, to firmly bind their interests and the interests of shareholders, so that every decision they make is based on the maximization of shareholders' interests, so that the problem will naturally be solved.

But the current situation is not a moral hazard for professional managers, but a group of fellows on the board who are looking out for their own interests and ignoring the deteriorating financial situation of Bear Stearns. This makes Allen. Schwartz was in a quandary. For he could not offend these people, and they could dismiss him at any time; The second is that he still needs the help of these people at present.

"What's James' plan?"

Just when everyone only cares about the stock price. Without caring about the loss of cash flow, a hoarse voice suddenly sounded. When everyone looked up and saw that it was an old man who had even gray hair, they closed their mouths in amusement. It turned out that the person who spoke was Alan. Greenberg, the eighty-year-old man, is the former chairman of Bear Stearns and is currently a member of Bear Stearns' board of directors. He wore a suit and leather shoes. The waist bar is straight, the movements are sharp, and there is no old age. The only difference from today's investment banker is probably that he doesn't wear a watch, but a pocket watch on his right chest.

When such a respectable person speaks out, others naturally have to listen. Allan. Schwartz was overjoyed. Knowing that with the support of this old man, maybe there would be a lot less resistance to the plan he was about to propose, so he hurriedly replied: "Mr. Greenberg, James is in Las Vegas now, and he can't catch up." However, I have already discussed a plan with him, which can be implemented immediately as soon as it is approved by the board of directors. According to my estimates, at least some of the funds will be able to be raised in the short term to meet the immediate needs. ”

While there are hundreds of millions of dollars in Bear Stearns' account, they do not belong to Bear Stearns. In other words, if the owner were to siphon off the money, Bear Stearns could really be in the abyss from which it could never recover. So even just in case, Bear Stearns had to find a new source of funding.

"Since that's the case, then you can first talk about the plan you have discussed!" Allan. Greenberg snorted, very dissatisfied with the chairman's addiction to bridge in the current situation, but he was helpless, after all, it was no longer his time to be in charge, and others respected him only for the sake of his seniority.

"Here's how it works!" Allan. Schwartz waved his hand, and the secretary who had been waiting outside the door for a long time walked in with a thick stack of papers, which were distributed in front of each director. Taking advantage of the time to distribute the article, he took the opportunity to explain, "Mortgaging a portion of the company's equity along with the ownership of the building is expected to bring in more than $2 billion in cash, which is enough to sustain us for a while." ”

Bear Stearns' headquarters building on Wall Street is currently worth around $1.5 billion. Coupled with the re-mortgaging of a portion of the equity, the $2 billion injection is not too much of a problem. But Schwartz's building was like dropping a drop of water in a boiling oil pot, and the whole conference room exploded at once.

"What? Do you want to mortgage a property? ”

"God, can't we even keep our building?"

"Damn James, don't you have a little bit of a reliable Jianyì? Hell, what the hell is going on? ”

……

"Be quiet, be quiet!"

Greenberg's voice was unusually small in the midst of the noise, and even as he stood up and shouted several times, the disgruntled shouts of many directors filled the room. So much so that Greenberg had to pick up his cane and bang twice on the mahogany conference table before he regained his quiet.

"This qiē is all a precaution, if the situation is really bad to that point, I'm afraid that the time left for us is not enough for us to cash out!" Schwartz glanced at Greenberg gratefully, twitched the corners of his mouth a few times, and continued, "Of course, the situation is nowhere near as bad. And just recently, I intend to make a public appearance to refute the rumors that are currently being used against us in the market and turn the current situation unfavorable. ”

When they heard that Schwartz had decided to make a public appearance, all the directors were unanimously relieved. Generally speaking, although this kind of public appearance can not reveal much information, it can basically reverse the negative impact caused by public opinion.

"Regarding the stock pledge, although there have been before, but now because the stock price has fallen sharply, I am afraid that the share will be more." After thinking about it carefully, Greenberg frowned and said, "But now we don't need so much money, so the plan for the mortgage of the headquarters building should be suspended for a while, and the shares alone are enough, don't we still have about 60 billion funds?" If the problem is really bad to that point, it is not too late to discuss how to mortgage the headquarters building. ”

"In addition, on the British side, it will be interesting for the gentleman to buy the shares again, and if he is interested, the shares held by the company can be relinquished." Greenberg said decisively, "As long as there is a new injection of money, we will not be able to overcome the current difficulties." ”

The so-called "gentleman from England" naturally refers to Joseph. Lewis, who did not attend the meeting, said his agent would agree to the agreement reached at the board meeting. (To be continued......)

PS: Thank you for the monthly ticket from cpower! BTW: Wait patiently, everyone, it's not far from the court~