Volume 1 - The Leaf in the Wind and the Wanderer Chapter 3 - The Good Pirate and the Insolvent Company
Durex Bond's entry came as a surprise to Samuel.
That's right, from day one, Samuel didn't plan to stay in business for long. His ultimate goal was to sell the company and cash out at some point, a goal he had thought would be achieved in about a year. But the entry of Durex Bond allowed this goal to be achieved ahead of schedule.
As a leading company in the industry, Durex Bond will not fail to see that Samuel's company is already overvalued. But this new technology will eventually have the slightest chance to disrupt the entire industry, and Durles Bond cannot tolerate this opportunity falling into the hands of competitors, so even at the risk of buying back a junk company—-- Durles Bond will buy Samuel's company even if the company ends up rotting in its own hands than in the hands of a competitor.
Of course, for Durex Bond, whose annual profits are in the billions, the acquisition of hundreds of millions is not a particularly big deal.
Durex Bond's president, Mike Raffi, was a very controlling manager who immediately kicked Samuel out of management and replaced him with his own. Samuel, who had completed the cash-out goal, was also happy to be idle, and immediately began to pack his things and prepare to leave.
Just as Samuel put the last personal belongings in the office into a cardboard box and was about to move out, the secretary, who was also on the last day of work, suddenly appeared in front of Samuel:
"There's a gentleman downstairs looking for you, and he says his name is Toft."
Samuel was stunned
"Toft?"
Half an hour later, Samuel, who was about to have lunch, and Toft, who also hadn't eaten lunch, sat in the restaurant across the street. It's just that Toft doesn't seem to have much of an appetite.
In fact, the moment he heard the name Toft, Samuel knew what the other party was looking for him.
Toft Tecks, formerly known as Cole Drake, is the most notorious air pirate leader in the New World. During the 8-year war between Carlin and Falais, he was recruited by the Carlin Air Force and became Carlin's official pirate. Samuel, who had just enlisted in the army at the time, failed to enter the regular army of Carlin because of the offense of the powerful, and was instead placed in the pirate fleet under Toft.
Cole relied on a huge subsidy from Carlin to expand the size of his pirate fleet and ruthlessly plundered Falaise's routes, and according to his agreement with Carlin's government, all the proceeds of the raid went to Cole. The protracted war has paid off for Cole. Sadly, while Cole's career was in full swing, and just three years before the end of the war, the world-famous assassination occurred, in which Cole was killed on the spot by Assassins from Falaise in a tavern in Gureg.
But only a few people knew that the assassination was planned by Cole and Samuel, and the public, the Assassins, and the Falaise intelligence agency behind it were kept in the dark. In the eyes of Falaise's intelligence services, they had completed a successful assassination that eliminated the pirate leader who had caused them great losses, and the director of the operation was even promoted.
After the assassination, Cole Drake managed to get rid of the identity of "Cole Drake" and began to live as "Toft Tyks" under Samuel's arrangement. Cole's fortune went through a complex and covert capital operation to find more than two dozen small and medium-sized companies controlled by different natural persons, but if you can get your hands on the top-secret documents they locked in the safe, you will find that these companies are actually controlled by one person, and that person is Toft Tex.
Leaving Cole's identity, Toft washed his hands of money and moved away from the ancient trade of piracy to a range of legitimate industries, including education, shipping, and shipbuilding.
In the field of education, Toft has established several nautical training schools to train crew members and onboard mechanics of floating ships. But no matter how hard he tried, he was never able to obtain permission from the Carlin authorities to establish a bachelor's degree program at the school, which meant that his school could not award bachelor's degrees to its graduates.
"I don't understand, you just have to learn what you learned in school, why bother with that diploma?" Toft complained
Hehe, in a civilized country like Carlin, the certificate is an important certificate of a person's comprehensive quality and social status, and you don't see that the sanitation worker positions in the tulip district need to hold a degree from a top 20 prestigious university to apply.
As for shipping and shipbuilding, as the world economy continues to recession in recent years, the scale of the industry has shrunk sharply, and Cole has sold off all shipbuilding-related assets one year ago. But it still hasn't completely pulled the company out of the abyss of huge losses.
"I'm here to borrow some money from you......"
This isn't the first time Toft's company has gone wrong. In order to raise funds for the company, Toft has sold a large number of shares to Samuel, directly pushing Samuel to the position of the largest shareholder. But as a major shareholder, the only thing the company has in return is the "Letter to Shareholders" received at the beginning of each year, which spends a lot of time explaining why the company lost so much money in the previous fiscal year, and then paints a bright picture of the company's future.
A few years earlier, Samuel had already listed the equity investment as the most failed investment of his life, and accepted the loss so calmly that he almost forgot that he was a major shareholder—-- if it weren't for Toft's annual borrowing money.
When equity financing failed, Toft began selling his own bonds to Samuel in the company's name, and after a bond default, Samuel was adamant not to buy any more Toft bonds.
"Listen to my advice, while it's still too late, liquidate the company's assets and leave. ”
Samuel had already seen that Toft didn't have much talent for management, not to mention that his company was still in a sunset industry, and while it was liquidated now, the remaining assets could still save his children and grandchildren.
"No, the company's net worth has been negative for a long time, and I've been using some accounting ...... for the past few years tricks to cover up"
So as the largest shareholder, can I sue you?!
"It's useless to sue me, even if you count all my personal assets, the entire group will not be able to repay the debts after bankruptcy and liquidation, and you will not be able to share anything," the former pirate leader said, "but if you can lend me some money, I can find a way to cover up the fact of insolvency through asset restructuring, and then take the opportunity to package up and sell all my assets." ”
Samuel was convinced.
"How much are you borrowing?"
Toft holds up a finger: "A billion"
Samuel was furious, where is Lao Tzu going to find you a billion?! But a flash of inspiration flashed in his mind, and he really thought of a way. He stared into the eyes of the pirate leader:
"Maybe we can do it big."