After Ian Grenier left, Eric did not invite other people to Tasmania, but enjoyed the last vacation time with the women and children.
Virginia and the others also expressed doubts about Eric's purchase of land on Tasmania, but Eric would not express his unfounded views to them.
Moreover, from the bottom of his heart, Eric also hopes to have a piece of land that is completely his own, the kind that can't run to the end with a whip on a horse. It is best to stay away from the hustle and bustle, not to be easily disturbed by outsiders, and there are no wolves yet.
Therefore, Tasmania, which is located in the south of the world, seems to be a perfect fit.
Before you know it, the time has come to late August.
The summer vacation in the northern hemisphere was coming to an end, and after staying in Tasmania for more than a week, Eric flew back to the United States with his family.
In New York, the Nasdaq Index began to rebound after opening on Monday, August 16, stimulated by good news from new technology companies such as Yahoo and Microsoft.
In order to create an escape opportunity for the technology stocks held in their hands in the early stage, many financial institutions have also begun to make various remarks to confuse the market, and trick the public investors to rekindle their confidence in the new technology market.
From August 16 to August 20, the Nasdaq rose from a low of 2863 points last week to 3319 points, an overall increase of 15.9%. The stock prices of new technology companies such as Microsoft, Yahoo, Cisco, and Amazon also rebounded sharply after the previous deep decline.
However, as things have developed to the present, as long as some rational investors understand that the current situation of the Nasdaq index is completely a flashback.
Even though Microsoft escaped the split of the Federal Department of Justice, Yahoo, Cisco, Amazon and other companies have the support of the strong capital of the Firefly system, but most of the new technology companies on the Nasdaq stock market do not have the luck and strength of the above companies.
In the past two months, even after some careful whitewashing, the quarterly financial reports of most new technology companies are far from comparable to companies such as Microsoft and Yahoo.
After a shocking crash, major financing and venture capital institutions will definitely not inject funds into the new technology industry as generously as they did a few months ago.
It is conceivable that in the next few months, once the capital chain of these new technology companies is exhausted, the wave of bankruptcy predicted by "Barron's Weekly" will also come. At that time, the Nasdaq index will fall to the bottom, and there will be no possibility of rebounding in a few years.
Long Island Airport.
It was already August 26, and it happened to be evening on the east coast.
After the Boeing 747 came to a complete stop on the runway, Joanna looked at the approaching ramp car through the porthole, and Joanna's face showed obvious anxiety.
Because of the incident in May, the woman is still a little worried about the reaction of the outside world.
Eric hugged Emma who was sleeping soundly wrapped around him like a koala in his arms, reached out and put his arms around Joanna's shoulder and patted lightly, saying: "It's okay, no one will be so ignorant now. If it really doesn't work , you and Vicky will take the children and move elsewhere."
Virginia also walked over with a little guy in one hand, and after hearing Eric's words, she also said a few words of comfort.
The cabin door opened, and the golden sunset couldn't wait to break in, carrying the residual heat of a summer evening.
Ya Tou and other people have come back early, this time only Eric, two women and three little guys rushed back.
Everyone got off the plane together, and after some busy work, they returned to the Seaside Manor in East Hampton.
Nothing happened along the way, no reporters, no spectators. East Hampton in summer was as peaceful and quiet as usual, and the two women felt relieved.
After being away for more than two weeks, there are a lot of things that Eric needs to deal with. He needs to rush to Manhattan tonight to attend a reception hosted by David West, President of State Street Global Fund. The Firefly Group has already announced its no-dividend plan for this year. Even though Katzenberg has a red face, it is impossible for Eric not to show up at all.
After helping the women and children settle, Eric hurried to the Long Island Airport, where he would take a helicopter to Manhattan.
Arriving in Manhattan, the business reception at the Gramercy Hotel on Lexington Avenue has already begun.
In the banquet hall, David West, the president of State Street Global Fund, was listening to a young man in his thirties talking quickly. His assistant came over and whispered something, and David West said Immediately interrupted the young man's words: "Philip, I need to meet a guest, let's talk about your family when we have time."
The young man wanted to say something more, but David West waved his hand and walked out the door.
As soon as he walked out of the hall, David West changed his smile, and there was no trace of impatience in his tone, and he greeted Eric who was on his way: "Hey, Eric, long time no see, what's up lately?" Sample?"
Eric and David West, who came over with open hands, hugged slightly, and said, "Not bad, how about you?"
David West and Eric let go, saying: "It's just terrible."
Even so, the smile on David West's face has not changed at all.
The two walked into the banquet hall side by side, talking and laughing, and the young man who had just talked to David West greeted him again: "Mr. West, I, you..."
The young man was about to say something, but when he saw Eric walking with David West, he suddenly became a little speechless as if he forgot his words.
Although he was unhappy, David West stopped and politely introduced: "Eric, this is Philip Scott, Milos Scott, owner of Pennsylvania Scott Natural Gas Company Son, a fine young man."
Hearing the name of Scott Gas Company, the smile on Eric's face became playful.
In the eavesdropping incident a few months ago, Eric later caught the handle of Tiger Fund, which was an overseas fund controlled by Scott Natural Gas Company.
However, after Soros passed on some information to warn Julian Robertson, the whole matter was over. Tiger Fund has entered the liquidation process due to the huge losses during the bursting of the new technology bubble, and Eric is even more lazy to pursue anything.
After looking at the young man in front of him for a while, Eric said, "Scott Gas Company, I know this."
After saying this, seeing that the other party didn't seem to react, Eric walked straight into the hall.
David West was a little surprised by Eric's words, walked side by side with Eric, and explained to other guests while saying hello: "The situation of Scott Gas Company is not very good now, Eric , are you related to this company?"
"No," Eric took a glass of red wine from the waiter's tray and asked casually, "What happened to them?"
"You know the Tiger Fund that is being liquidated. The Scott family is an important customer of the Tiger Fund. The liquidation of the Tiger Fund caused them to lose a lot of money. But that's not all. During the surge of the Nasdaq in the past few months, The Scott family, in order to buy technology stocks following the trend, made a mortgage with State Street Bank on the family's shares in Scott Natural Gas Company, and now they have all lost. I was in a few deals with Milos Scott I had some friendships, so this young man came here and hoped that I could help delay their loan repayment time," David West couldn't help shaking his head, saying: "This kind of thing, everyone is in a mess now Luanma, how could it be possible to help."
The relationship between State Street Bank and State Street Global is similar to that between JPMorgan Chase and Morgan Stanley. Morgan, which has long been split, is much closer to the two companies.
Eric turned his head and glanced in the direction just now, and found that the young man named Philip Scott was also looking at him, his expression seemed a little cloudy, seeing Eric looking at him, Philip Scott looked at him again He quickly looked away as if nothing had happened.
Looking back casually, Eric listened to the bitterness in David West's last tone, and did not go around the corner, saying: "David, the matter of dividends is definitely not possible this year, and Firefly is planning the next step Expansion requires money. However, it is not completely unaccommodating, if State Street Global is willing to sell back the shares in Firefly Group, we can immediately settle this year’s dividend.”
"Eric, you are really giving me a problem."
Although it is a non-listed company, Firefly Group has been excellent in recent years, both in terms of its expansion and its annual profits. Eric has always had the idea of repurchasing shares, but the minority shareholders who hold the shares of Firefly Group have not had any intention of selling them over the years.
"Think about it, David, you can also tell others what I mean. Firefly Group can repurchase shares at a price-earnings ratio of 25 times and settle this year's dividend at the same time."
According to the size of Firefly Group's operating profit this year, with a price-earnings ratio of 25 times, the market value is roughly equivalent to 100 billion US dollars. After the Internet bubble burst, the AOL-Time Warner Group, which had just been merged a few months ago, had a current market value of just over US$160 billion. Therefore, although Eric’s price was slightly lower than Forbes and other media’s comparisons with Firefly Group, Valuation, but it can be regarded as full of sincerity.
State Street Global also suffered heavy losses during the recent Nasdaq crash. As an investment fund acting as a wealth management agency, State Street Global will not face the same dilemma as the Scott family, but if you want this year’s financial report to be So ugly, to continue to maintain the confidence of investors, the huge dividend of Firefly Group or Clover Fund is very important.
So far, besides Eric, the other shareholders of Firefly Group hold a total of 26.3%.
Among them, the Berkshire Hathaway and Tom Murphy families have the highest shareholdings, both of which are 5%.
As a listed company, ABC Group used to have a large number of minority shareholders, and State Street Global’s original shareholding ratio was far from comparable to that of Berkshire Hathaway and Tom Murphy.
However, because the US Federal Trade Commission has a non-listed company with more than 99 partners must make public information disclosure regulations. During the merger process, in order to avoid this heavy restriction, many small shareholders who wanted to continue to keep their shares gathered their shares, and several foundations such as State Street Global held the shares on their behalf. Such a foundation is very important to the Firefly Group. It is only equivalent to a partner.
Therefore, in addition to Berkshire Hathaway and Tom Murphy, seven other foundations including State Street Global currently hold a total of 14% of the shares of Firefly Group, of which State Street Global holds 3.3%. Second only to Berkshire Hathaway and Tom Murphy.
According to Firefly Group's overall net profit of US$40 billion this year, if dividends are implemented, State Street Global can get more than US$1.3 billion in profits, which is already equivalent to the total annual profit of State Street Global in previous years. , State Street Global's original loss-making financial situation this year can be reversed immediately.
As a shrewd investor, David West definitely does not lack long-term vision. The strength of Firefly Group in Hollywood is obvious to all. It is absolutely worthwhile to hold the company's stock for a long time.
However, as a professional manager, if he wants to maintain his position for a long time and even go further, David West also understands that he must sacrifice long-term interests in many cases. After all, ordinary investors often only see immediate benefits. And it's hard to take a long-term view.
Weighing and tangling in his heart, David West said again: "Eric, do you think this is okay? Firefly Group implements dividends, even if it is only a part of the dividends. In the next acquisition process, State Street can provide Firefly Group with Low-interest debt financing equivalent to the amount of firefly dividends."
"Although I can perfunctory you, David, but to be honest, I still can't," Eric shook his head and said: "David, as one of the directors of the company, you should know the next development plan of Firefly Group. With the funds in hand, we can complete the next step of expansion without having to exchange shares. At that time, not only will the shares in everyone’s hands not be diluted, but they will also increase in value immediately, isn’t that good?”
"Of course I understand, Eric, but you also know our current situation."
"The Nasdaq index crashed, and many people lost money," Eric spread his hands, and said, "So, the loss of State Street Global is a matter of course. This is because the overall economic situation is not good, and no one can blame it. What are you?"
Realizing that Eric still has no room for change, David West lamented in his heart, but he didn't bother too much, and quickly relaxed his tone, saying: "Then, Eric, introduce some guests to you Well, many people came here tonight to get to know you."
"It's my honor," Eric nodded with a smile, and walked around the banquet hall with David West.
Speaking of which, both State Street Bank and State Street Global Fund are headquartered in Boston, and they are also the core of the Boston Consortium, one of the top ten consortia in the United States. Each of the top ten consortia in the United States controls large and small companies through mainstream banks distributed across the United States, thereby controlling the US economy.
Although unwilling to admit it, there is still a long way to go for the Firefly system without the support of financial institutions.
After socializing until more than ten o'clock, Eric finally said goodbye to David West.
Cindy has finished recording "America's Next Top Model" and is now pregnant. At this time, she has moved to Martha's Vineyard in the northeast of Long Island, where she plans to live until the baby is born.
Eric sat in the car in the parking lot, called Giselle and the others, confirmed that the girls were all in Manhattan, and was about to let the driver drive, when another silver car drove over from a nearby parking space.
The driver had to stop temporarily, waiting for the car to pass by first.
Eric put away his mobile phone, glanced out casually, and happened to notice the young man named Philip Scott looking out through the fallen window in the silver car. However, at a glance, Eric noticed that the eyes of Philip Scott looking at him were full of resentment.
Remembering that during the reception, Philip Scott came over again and tried to communicate with David West, but was dismissed by David West with a few words. Obviously, the other party's goal tonight must have failed to achieve.
However, depending on the situation, the other party will not blame themselves for tonight's loss, right? Or, did the other party think that he deliberately tripped the Scott family because of that incident
Thinking so casually, Eric didn't have any special feelings.
Living in this world, there are no people who can truly be slick. While you have many friends, you will inevitably offend some people, even if you offend them inexplicably sometimes.