For the gold mine in the dung pit of Qualcomm, Abel certainly intends to get it.

If you can get Qualcomm in this era.

That is equivalent to pinching the pill of the mobile Internet more than ten years later.

Even if you don't invest in scientific research after ten years, you can collect taxes for more than ten years if you hold Qualcomm.

It is as strong as a chrysanthemum, even if the patents are mutually authorized.

In the end, it still has to pay some patent taxes to Qualcomm more or less.

Abel came here this time, naturally for this purpose.

And Owen Jacob, the founder and chairman of Qualcomm.

There are other Qualcomm management who naturally want to get investment on Abel's side.

Mainly in the past two years, Gao has passed really badly.

The stock market has fallen from more than $35 billion to $3 billion in one year.

This kind of heart-wrenching plunge is rare in the history of world stocks.

This side of Qualcomm's main building.

After a glance, Abel was accompanied by Owen Jacob.

Everyone came to the large conference room on the eighth floor of Qualcomm headquarters.

By the time everyone was seated, Owen Jacob hadn't spoken.

Abel had already said straight to the point:

"I think Qualcomm is a good company. But I'm not going to hold it anytime soon, because it's going to keep losing money. ”

Abel's unkind and direct words made the founders and management of Qualcomm present look ugly.

Owen Jacob was more worried about Abel's words and spread them outside.

Originally, the market was not optimistic about Qualcomm in the past two years.

Otherwise, Qualcomm's stock price would not have fallen so dramatically.

If only the words of Abel, the "financial Moses," had been passed on to the outside world at such a time.

The market does not have much information about Qualcomm, and it will definitely collapse immediately.

At that time, the stock price is expected to be cut in half again.

If this situation happens two or three times, then Qualcomm can declare bankruptcy and delisting.

Fortunately, there are no outsiders in this conference room except for Abel and Qualcomm.

Owen Jacob is only worried that Abel will say this to the outside world, and he is not worried that someone on Qualcomm's side will leak this sentence.

"Mr. Smith," Owen Jacob, said softly, for fear that he would upset the young man and let him talk outside.

"When do you think Qualcomm will be able to get out of this predicament?"

However, Abel avoided the issue directly, saying to Irving Jacob:

"I won't own Qualcomm in the near future, but Smith Capital can help Qualcomm."

Owen Jacob's above words are actually trying to set some good things Abel said to Qualcomm.

So in case there is a real leak from the media.

You can also use the good words that Abel said later to offset Abel's unfavorable words in front of Qualcomm.

Unexpectedly, Abel said this, and Owen Jacob immediately asked with interest:

"Oh, Mr. Smith, how would you like to help Qualcomm?"

"Bonds."

Abel said: "Qualcomm can issue PERCS bonds to Smith Capital. ”

PERCS bonds, in fact, are a type of convertible preferred stock with upper and lower limits.

"PERCS Bonds"

Owen Jacob understood what Abel meant.

That is, Abel is not interested in Qualcomm now, but is willing to lend to Qualcomm.

And he's interested in the future of Qualcomm.

So does Qualcomm need a loan now?

It's so needed!

Qualcomm currently has a market capitalization of about $2.6 billion on the stock market.

But their liabilities are already as high as $2.2 billion.

At this time, Qualcomm was already embarrassed to the point that not many banks and financial companies were willing to lend to it.

But Qualcomm itself knew that its scientific research simply could not stop.

If it stops, other competitors in the industry may surpass it.

At that point, Qualcomm's first-mover advantage will be lost.

That's not far from Qualcomm's complete death.

Qualcomm needs funding now.

Gritting his teeth, Owen Jacob said softly, "What about the conditions?" What are the conditions for PERCS at Smiths Capital? ”

"The annual interest rate is 7.85%, which is much less than most PERCS on the market."

"The conversion period is two years, and when the price of common stock does not exceed $10.8 per share, the conversion price is $4.5, which corresponds to Qualcomm's price-to-book ratio of about 1.7 times and price-to-earnings ratio of about 15 times in 2000."

Abel continued with clarity.

"If the common stock price exceeds $10.8, the conversion price is $10.8."

"In other words, the yield on this PERCS bond is capped, and in addition to the interest income of 7.85% per annum, the common stock conversion investment income after two years is up to 58%."

"In addition, I need the preferred stock to have a protection clause that extends the conversion period for six months if the common stock price falls below $4.5 after two years, that is, in 2003."

According to this set of rules, Qualcomm pays 7.85% interest per year for two years.

Two years later, if Qualcomm's stock price can't rise above $10.8.

Then you have to sell the stock within the corresponding value to Abel at the price of $4.5 per share.

If it can rise more than $13 by more than $0.8 a share, it can only be sold to Abel at $10.8 a share.

This is equivalent to Abel and Qualcomm signing a two-year investment VAM agreement.

Similar PERCS bonds are not uncommon in the United States and Europe.

For example, in 1991, Warren Buffett invested in Amex Company, which also used the PERCS bond model.

Generally speaking, only a listed company like Qualcomm now, which is extremely embarrassed, can accept this condition.

This is a kind of usury that is not so fair between enterprises, in a situation where there is no way to borrow, and there is really no way to borrow.

Abel smiled: "If I want, I can come up with $500 million to support Qualcomm as PERCS bonds." ”

When Owen Jacob heard this, his face changed.

The expressions of the other Qualcomm executives present were also different.

But most of them are not too good expressions.

It's not because Abel's conditions are too much.

In fact, before Abel.

In the past year, Qualcomm has also contacted various gold groups many times.

But most of the bank syndicates rejected Qualcomm's request for financing.

A small number of banks are willing to use Abel's similar PERCS bond model to support it.

But these banks have more demanding conditions and higher interest rates.

As Abel said, the annual interest rate of 7.85% is indeed not high in this model.

Back then, Buffett's interest on American Express was 8.85%.

Those who are willing to give Qualcomm PERCS bonds will pay more than 10% interest.

Thinking of this, Owen Jacob said astringently:

"Mr. Smith, thank you for the offer. But I need to report it to the shareholders' meeting, you should know. ”

"Yes." Abel stood up with a smile: "Five months, five months, this condition is fine." ”

Owen Jacob nodded, his voice dry, "Thank you for your kindness."

"Hmm. So be it. Abel nodded, stood up and said he was leaving.

Owen Jacob and the others still want to keep it, but Abel is not very interested in Qualcomm, which is still a dung pit at this time.

Before 2003, Qualcomm was really a pure small broken company.

It really took off until 06-07 two years.

That's when smartphones appeared.

There will be some investors with good vision who have found that Qualcomm is already invincible on this track.

At that time, Qualcomm suddenly became worth a lot of money, and it went from a dung pit to a gold mine that everyone wanted.

Soon, Abel left Qualcomm.

On the way to the airport, Edward tells Abel one more thing.

That is, Laura has left Arlington and gone to Austin, Houston.

Abel remembers the Herberts, who lived mainly in Austin, Houston.

Little Laura went to Houston Austin, and she should be home.

Abel was already a little numb to this.

He just asked Edward to continue to send people to keep an eye on him, and he didn't bother to care about how to develop in the future.

It was past eight o'clock in the evening.

Abel returned to Villa 812 North Bedford Road in Beverly Hills.

Anne didn't come back, she flew to New York tonight.

She'll be in New York tomorrow, as well as in several major cities on the East Coast, to promote The Princess Diaries.

In addition, the first-day box office of "The Princess Diaries" also came out.

With the hype of the entertainment media and the fact that Abel gave his first TV interview.

and the support of many Hollywood celebrities in the media.

"The Princess Diaries" grossed $15.6 million on its first day.

Abel, who owns a large media group, certainly knows that the box office on this first day is very good.

Like last year's Fox film's "X-Men", which grossed $296 million worldwide.

Its first-day box office was only about $13 million.

If this rule is followed, it is estimated that the box office of the princess diary will not be worse than that of "X-Men".

But know that X-Men costs a whopping $75 million.

The cost of "The Princess Diaries" is only $30 million.

It's more than twice as bad, if the box office is the same.

Fox is expected to be.

But none of this mattered to Abel.

Smith Capital In the capital market, the fluctuations of a few points, sometimes the floating loss and floating profit figures are more exaggerated than these.

He just glanced at it and forgot about it.

Since Anne was not there, Anne's bodyguard naturally followed.

In the evening, Abel was a little hungry.

He asked Edward to go and ask the kitchen to make him something to eat.

Half an hour later, a tall, thin little blonde girl came over with food.

Able looked sideways at Edward, who explained softly:

"This is Kina Korshunova's niece. Her mother is currently a cook here. Miss Anne promised her mother that she would be paid for doing what she could here. ”

Abel nodded, and he also remembered what Jinna had asked him to do before.

After confirming this, he smiled at the little girl.

The little girl looked a little shy and a little introverted, and she didn't dare to look up at him, so she lowered her head and put the food up.

Abel looked at it and found that it was some roast mutton, horses, etc.

It's good to change the taste, he thought about it and started to do it.

As soon as he ate it, Abel suddenly felt that the meal was delicious.

"Oh, that's good." Abel smiled and said to the little girl standing next to him:

"The meal was deliciously cooked. I'm very satisfied, by the way, girl, what's your name? I'm Abel Smith, you can call me Abel, or you can call me Mr. Smith. ”

"Sir." Edward whispered beside him, "She's just come from Europe. She didn't speak English very well. ”

"Oh." Abel nodded, "And what language does she speak?" Russian? ”

"It seems to be Russian and Haksa."

"Will you?"

"Sorry, boss. I won't. Edward said, "But somebody will, do you need me to let him in and translate for you?" ”

"Forget it." Abel shook his head, "Let's wait until she learns English well." ”

Abel ate quickly, and then made a gesture.

The little girl, who didn't understand English very well, understood his movements, and came over to take the plates and so on.

Abel, who was well fed and drunk, turned around and came to the study, took out his mobile phone and called his grandfather.

The call was quickly connected.

"Good evening, my dear grandfather."

"Good evening, my unlovely grandson."

"Okay." Abel said:

"I don't have to be so polite with you. Little Laura went to look for you yesterday? I heard she left today. ”

"Yes."

"Uh" Abel said, "Then you have nothing to say to me?" ”

"Nope."

Abel paused, and said in a dissatisfied tone:

"My dear grandfather, you weren't like that two days ago. At that time, you said that you and your father will always be my supporters! ”

"Hahahaha~"

Alex's long laugh came from the receiver of his phone.

Abel was helpless, knowing that the old urchin wanted to play a trick on himself.

He had to wait quietly.

Alex had laughed enough over there before he spoke softly:

"Okay, okay. Little Laura did come to me, came once yesterday and spent the night last night in the room where you stayed. She doesn't mind the bed your grandmother prepared for her, even if it was directly yours. It has to be said that this is really a good bush. Her personality is too much like Herbert. ”

"And then?" Abel was noncommittal.

Alex said, "And then I thought she'd be a good fit for you. ”

"By what is the judgment? Just because she's a good shrub? Abel asked.

"Little Laura is different from your grandmother and mother." Alex said on the other end of the phone:

"Your grandmother and mother are good mothers, good grandmothers, and good wives."

"But they can't be good housewives. Do you understand what I mean? Child? Little Laura can be a good housewife. ”

Listening to his grandfather's praise for Laura Bush Lauren, Abel was a little surprised.

He knew that his grandfather had always looked down on the people of the bush family because of Herbert.

If it weren't for Herbert and his son, who ascended to a high position and led the family so successfully.

With Alex's stinky temper, it is estimated that he would not be willing to associate with Herbert more.

Now that Alex is so full of praise for little Laura, Abel knows that there must be a reason.

Faced with his grandfather, he asked directly.

"Okay. I know you're going to ask. ”

Alex said: "The reason why I feel this way is because little Laura said something to me. ”

"What?"

"She said, 'If I marry Smith, I want every fourth-generation Smith to have a middle name called Lauren. ”

Alex said, "Do you know what that means? My dear child. ”

Abel was silent.

Alex's voice rang out again.

"She's already confessed in front of me and Arya that she knows about you and that little female star. She had only one request for this. That's the little female star, if the child she gave birth to was a girl. The name can only be "Ella Lauren Smith". If the little female star gave birth to a boy, the name must be Abadi Lauren Smith. ”

After listening to Grandpa's long words, Abel was already a little speechless.

What does little Laura mean by this?

Strange naming fetish?

But listening to Grandpa, it seems that she doesn't mind these things about herself?

Abel hesitated, he didn't quite believe that such a good thing would happen.

"That's why I said she would be a good housewife. Because I think she's genuine. Unless her acting skills are better than she can fool me and Arya. ”

Alex's voice came from there again when Abel was silent.

"Whew"

Able took a deep breath, and after a few seconds he spoke.

"And what do you and Grandma mean?"

"Son, it's not my or anyone else's opinion that matters. It's your own thoughts. ”

Alex said, "It doesn't matter if Smith is united with the bush or with some other family. The surest way is marriage plus interests. The final beneficiary and the person who contributes will also be you. ”

"Alexander can help you for a few more years. But I'm not good anymore, I'm old. ”

"Abel, my good boy. It's all about what you think, or what you want to do. ”

"That's all that matters."

When Grandfather said this, Abel was completely silent.

He held his phone and didn't speak for a few minutes, and only after a few minutes did he whisper:

"Okay. I see what you mean. It's a little late, good night, grandfather. ”

"Good night, kid."

Hanging up the phone, Abel put down the phone.

In the study, he walked to the floor-to-ceiling window and looked at the night view of Los Angeles in the distance.

When night falls, the entire City of Angels is brightly lit and the sky is bright, showing the most deceptive side of the capital country.

Looking at this scene, Abel was in a daze for a long time.

After standing for more than ten minutes, Abel turned around, walked to the desk, and picked up his phone again.

In his mobile phone, which he used for personal communication, he found the note of the contact "Little Laura".

After hesitating for a few seconds, he dialed out.

Another few seconds later.

In the receiver of the mobile phone, the brisk voice of Laura Bush Lauren was heard.

"Abel?"

"Hmm."

"Wait, I'm talking to my father, uncle, grandfather, wait until I change places."

"Okay."

After a while.

"Are you too embarrassed to call me?"

"Why are you embarrassed. Laura Lauren Smith. ”

He was met with a long silence.

And a few minutes later, she laughed softly.

(End of chapter)