Chapter 8: Cedric & Company
I have to say that the listings of Dalton Real Estate Agency are indeed very rich, and for a while, Jack and Ruth were both dazzled.
During this time, while chatting with the waiter, Jack learns that there is a car company in Santa Clara called Cedric Company, which owes a lot of debt due to the failure of its owner Mayne Cedric's investment in oil exploration, and is looking for a buyer who is willing to take over Cedric's company.
After hearing the news, Jack considered that it was undoubtedly very troublesome to build a company from scratch, and when he already had a huge amount of money in his hands, he still preferred to buy a car company outright and build on it.
Because in this way, a lot of time can be saved.
And time, in the case that Ford will start to implement the assembly line work system next year, and the Model T will continue to compete for the market by selling at a reduced price, it is undoubtedly the most scarce for Jack at the moment.
And the Cedric company that the waiter said was undoubtedly a suitable target
So, after consulting Ruth, Jack simply changed his mind about renting and bought a two-story villa near Santa Clara University.
After buying the villa near Santa Clara University, Jack and Ruth were assigned their own jobs, with Ruth taking care of the housekeeping company cleaning the villa and Jack buying furniture.
In the blink of an eye, three days had passed.
With the villa cleaned up and all the furniture that Jack bought moved in, Jack and Ruth finally got rid of the hotel where they had lived for half a month and moved into a home that belonged to the two of them
"I'm going to inquire about Cedric's company, and if you're bored at home alone, you can visit your neighbors."
At noon the next day, after recovering some energy, Jack explained a few words to Ruth, and drove the Ford Model T he bought two days ago to the location of Cedric's company.
Because Cedric's car company is not far away, only about ten minutes, Jack came to the vicinity of Cedric's company, he asked someone to inquire, and found that Cedric's company owner Mayne Cedric did have the intention of selling Cedric's company.
Jack also knows a little about the state of Cedric's company.
In 1905, due to the development of the Alzmobile Automobile Company, the automobile industry in the United States had become a new investment hotspot, and Mayne Cedric, who happened to make a lot of money through the stock market at that time, also followed suit to establish Cedric Company.
In the first two years, because there were no companies in California that produced cars, Cedric's cars sold well, making Mayne Cedric a lot of money.
But just when he was about to make Cedric a lifelong career, Ford, the price butcher, appeared.
When everyone tacitly set the price of the car at $2,000 to $3,000 each, Ford cut the price in half, directly setting the price of the Model T at $950 each.
As a result, the auto market is dominated by Ford, the price butcher, except for a few long-established car companies with deep roots, but small and medium-sized car companies such as Cedric are increasingly difficult.
Under these circumstances, Mayne Cedric heard that it was easy to make a fortune investing in oil exploration, so he simply left Cedric to fend for itself and devoted most of his energy to oil exploration.
After Mayne Cedric devoted most of his energy to oil exploration, Cedric continued to produce cars, but its sales channels became narrower, and in the past two years, it has abandoned mass production and become a company specializing in customizing cars for the wealthy.
Needless to say, after spending all the money that Cedric's company earned him, he couldn't find a drop of oil, but he owed a lot of debt, so he had the idea of selling Cedric's company to pay off his debts.
After the inquiry was almost over, Jack went directly to Cedric's company, and after informing him of his intentions, he was quickly welcomed inside, and finally taken to the president's office.
"Sir, you're going to buy my Cedric company?"
As soon as Jack walked into the office, a middle-aged man with a black circle, a scruffy beard, and an extremely decadent look, that is, Mayne Cedric, the owner of Cedric's company, glanced at Jack, and saw that Jack was so young, and the look of disappointment flashed.
It's no wonder that he is so, although Cedric's company has been reduced to a company that specializes in customizing vehicles for the rich, but although the sparrow is small, it has all the organs, and a car company should have it, but it is not something that ordinary people can afford to buy.
Except for the rich second generation who has a good tire, who has the money to buy Cedric's company at Jack's age?
As for whether Jack is a rich second generation?
Mayne Cedric would never believe it.
Because if there is really a rich second generation who falls in love with Cedric's company, there is a high probability that he will not come over to talk about the acquisition in person.
Seeing the disappointment in the middle-aged man's eyes, Jack smiled lightly, and without waiting for the middle-aged man to greet him, he came directly to the middle-aged man and sat down: "My name is Jack Dawson, and you are Mayne Cedric, the owner of Cedric's company." ”
Faced with Jack's slightly aggressive behavior, Mayne Cedric was unimpressed, he nodded and said, "Yes, I am." ”
After a pause, although Mayne Cedric was a little skeptical about whether Jack had the money to buy Cedric's company, he still asked with anticipation: "Mr. Dawson, are you really interested in buying Cedric's company?" ”
"Of course." Jack nodded in confirmation, and then said, "I came here this time to learn about the situation of Cedric's company first, and if Cedric's company is suitable, I naturally want to buy it." ”
After listening to Jack's affirmative reply, Mayne Cedric thought that since he announced that he was going to sell Cedric's company, almost half a month, there was no one who approached him to negotiate the purchase of Cedric's company, and Jack was the first person to find him, so he was patient, took Jack out of the office, visited the production workshop, and introduced: "Cedric was founded in 1906, at that time, the United States ......"
Jack patiently listened to the history of Cedric's company for a while, and compared it with the news he had inquired about outside, and he found that there was not much difference.
"Mr. Cedric, can you tell me about the state of Cedric's assets?"
"Absolutely."
……