Although the rapid growth of Fast and Furious sales is very gratifying, after the release of the first quarterly report in the full sense of the word on April 7, Contini still felt the pressure.

According to the first quarterly report, in just three months from January to March 1923, the owners of the United Group had extraordinary economic activities, with an overall cash outflow of more than 46 million lire and an operating income of less than 10 million, and the difference between them was completely maintained by free funds and bank loans.

Leo has fully entered the role of assistant general manager, systematically explaining the meaning of the figures to Contini: "Of the more than 46 million lire expenditures, the capital expenditure converted into fixed assets or other assets is about more than 28 million lire, mainly involving the one-time placement and engineering construction of equipment and land related to United Airlines, as well as the construction of the factory area, equipment and raw materials of United Motorcycle, and the other more than 18 million are operating expenses, including the maintenance of Youth Daily, United Express, United Printing, The operation of industries such as United Airlines, most of which is capitation fees, and some of them are marketing expenses. ”

In fact, most of the so-called marketing fees are the cost of lubrication everywhere, and the marketing is probably only involved when the Milan models are invited to walk the catwalk once, which is not large, and Contini's accounting is also messy, but the accountants are not stunned, they understand.

"As for operating income." Leo smiled bitterly, "Except for the part that cancels each other out within the group, if you hadn't launched a subscription radio, you wouldn't have been able to pass 5 million at all, and so far, through this activity, a total of more than 4,700 new subscribers have been realized, and a one-time income of nearly 5 million has been obtained, and at the same time, normal newspaper distribution, aviation school training, postal transportation, and the first batch of motorcycle sales have provided part of the income." But we all know that subscribing to the radio is completely at a loss, which is equivalent to spending the subsequent income in advance. ”

"The overall income statement of the first quarter is very ugly, and the loss is expected to exceed 25 million, of which I think the biggest loss is in United Airlines and the supporting Roman Warrior Club." Leo pondered for a moment and said, "They caused losses of at least 10 million lire or more, and their contribution was nothing more than a thrilling show that fell from the sky." ”

Antonio said with a sad face: "Young master, don't underestimate the loss of 25 million, the second quarter will only increase and not shrink, I have a very pessimistic forecast for the loss of the whole year, which may exceed 100 million lira." Also, I haven't counted the lawsuit or anything like that, is that your personal expense? ”

"My personal expenses?" Contini jumped up, "How can this work, of course this is the expense of the United Group, and I obviously didn't want to get angry with Matteotti in trouble!" ”

"Okay, then another 2 million will be withdrawn."

"No, add another 10 million." Contini shook his head, "Under the pressure of the Socialist Party, the Supreme Court has accepted the complaint, and I have asked the legal team to draft a legal complaint to prepare to the Constitutional Court to complain that the Socialist Party is unconstitutional, and the attacks of the newspapers and radio will be fully escalated!" ”

"Accusations against the Socialists?" Leo was dumbfounded, "This...... Is this necessary? ”

"Yes, I am already planning to meet with the Pope later this month, and the Vatican is also concerned about this matter, so I must show the attitude I deserve. By the way, I am going to donate 1 million to the Pope, and please note the trouble to the accounts of the United Group. ”

"I can't do this financial statement." Leo put down the water glass heavily, "That's at least a loss of 115 million!" ”

Contini nodded, but the words that came out were shocking: "Is 115 million enough?" Uncle Antonio, didn't you tell the accountant about the funds for the training of the Leader's Guard, the 15 million preferred stock dividends, and the newly increased loan interest? ”

Leo's face was full of surprise: "What does the Leader Guard have to do with you, this is a government act." ”

"The leader has taken a fancy to our black paratroopers and asked to help him train a group of about 200 people......," Contini smiled wryly and showdowned, "What's more, we have to bear the cost." ”

"Damn, how can this be? Isn't this a blatant embezzlement of corporate interests? Leo cried out, "Why don't you refuse?" You promised him this time, what if there is more next time? Not to mention that the leader of the United Group did not invest a single lire of resources, and even if he did, he could not treat a company as an ATM. ”

Looking at Leo with a naïve face, Antonio sighed: "Some things can't be measured by common sense, the young master wants to take the land of major cities, take government orders, have guards and arms, and even get loans, how can he do without government support?" In addition, the Prime Minister and the five ministers went to Milan to attend the opening and launch ceremony of the United Motorcycle, and the face of His Excellency the Minister of Transport alone was not enough; In addition, it is unthinkable to wrestle with the Socialist Party without the support of the government and leaders. ”

Leo was simply speechless: in this way, the loss would be at least 1.3 or even 140 million!

"Calais, you can't continue to develop like this, the loss alone has reached this number, and the overall capital for the whole year can't be stopped without 250 million, and your own funds are only 70 million lira, and you have a loan of 70 million, only 14......0 million, which can't be sustained at all."

"In the past two days, I have negotiated with the War Department and the leaders, and they have come forward to support us in obtaining a loan of 100 million lira at an annual interest rate of 7%."

"That's only 240 million!"

"Borrow another 60 million through other commercial channels, and make up 300 million yuan." Contini was ruthless, "Right now, the United motorcycle is selling well, and I don't think there's much pressure to get a loan from the banking world." ”

"Even if we can keep our accounts stable this year, what will we do next year?" Leo was worried, "Next year's loss may be less than this year's, but I expect it to be hundreds of millions, so do you want to borrow again?" ”

"It's going to be money next year...... I still have a sum of money in the United States, and then the Bank of America agreed to release part of the loan to us. ”

"I don't understand the business logic." Leo analyzed, "Now the "Youth Daily" can barely maintain self-financing, United Motorcycle can achieve profitability next year, as for the United Printing, United Express itself is not large, I think they can be maintained, although United Radio is expected to lose money next year, but at least the national radio here still has some media value and advertising expenses to offset, but United Airlines and the Club of Rome must control costs, I can't spend tens of millions of miles a year to guard a bunch of practical planes and guards to live." Calais, we are a business, not a government, what are you doing with the second air force and the guards? ”

This is not the first time that some people have strongly opposed Contini's business logic, the general managers of the companies of the United Group have more or less expressed similar opinions about themselves, of course, they have different identities from Contini, and the words they say are much more tactful, Leo is not only the backbone of the Youth League and the "Youth Daily", but also an old classmate and old friend, so he can bluntly point out - if it were not for the popularity of the United Motorcycle, the effect is extraordinary, and the criticism at this moment may be even more severe.

"Leo, your criticism is very correct, but you really don't understand my business logic." It is impossible for Contini to tell his political ambitions and ideals, and he believes that the time is not ripe – with the only exception of Antonio.

"So, what's your logic?"

"Multi-industry simultaneously, multi-format symbiosis, internal synergy, external consistency, jointly shape the joint brand image, so that consumers are immersed in the new life system provided by the United Group - this mainstream lifestyle of the middle class is not naturally formed, but through the efforts of the United Group to guide them, isolated to see that they are losses, but after gathering together, they will irrepressibly undergo chemical fusion reactions, and then burst out of strong energy."

"Whose business theory is this? Forgive me for being so lonely that I have never heard of it. ”

"Mine." Contini pretended lightly, "The theoretical logic is that demand is not only endogenous, but can also be guided and shaped from the outside. ”

"I don't understand." Leo smiled wryly, "Without strong practical, practical needs, where are there ethereal needs?" ”

"Because a lot of times you don't know what you need...... Contini looked at Leo, who was still in a hurry to defend himself, and smiled, "I'll give you an example and you'll understand." Do you think fashion models are particularly thin? Is it a very low percentage of the population? Even lower than the percentage of fat people? ”

"That's right."

"From the perspective of normal distribution, being too thin and too fat are both abnormal states that deviate from the mainstream, but now our media and fashion vision define the model's body as the standard, as the ideal state, what will happen next?"

"What is it?" Leo was a little baffled.

This kind of forcibly shaped guidance will form the idea that most girls feel that they are fat and need to lose weight after comparison, so a series of industries such as weight loss, sports, beauty, and slimming have emerged...... In fact, the vast majority of people don't need to lose weight when measured at an intermediate level. "Do you think the need to lose weight is endogenous or externally guided and ultimately shaped or even imposed?" ”

Leo rolled his eyes, finally speechless......