Happy Tycoon
Chapter 344: Candidate
"Boss, you are making me a player and a referee again! Are you really relieved to leave these things to me to do?" Mike Aller asked with a smile.
Regarding the conditions put forward by the mysterious boss, Mike Aller said it was a lie not to be tempted. Mike Aller knows his level very well. He has worked as an accountant all his life. Even if he was responsible for the branch in the Cayman Islands later, he did not have enough level in management.
However, in terms of supervision, Mike Aller is confident that he will not lose to anyone. The work he did as an accountant before was not only about setting up accounts, but also about monitoring funds. Mike Aller, who has been immersed in this for a lifetime, is very confident.
As for finding people or knowing people, Mike Aller is also confident that he can do well. He seems to have talent in this area, and the talent is very high. To be honest, sometimes Mike Aller himself thinks that if he is not an accountant, it might be better to switch to a headhunter.
Now, this mysterious boss makes full use of his expertise, which puts Mike Aller under no pressure at all, so he started a joke.
"No, Mike, I'm very relieved of you." Yang Jing looked at Mike Ale seriously and said, "We have known each other for more than six years. I also understand what kind of person you are because of me. I am very satisfied with you, so I will entrust such an important work to you. I don’t worry about being someone else."
Mike Alle was shocked, and then said with a touch of emotion: "Boss, I can't afford to say that."
Yang Jing waved his hand, "Mike, there is no need to engage in those vain things between us, I trust you, you must use performance to prove my trust in you, I know you will do the work I entrusted to you. , I can definitely do a very good job."
Mike Aller nodded.
"Well, then, I think what Dragon Fund needs most is a senior manager who can lead all the work. I need a CEO who is proficient in investment and acquisitions and mergers and acquisitions. Mike, what do you have better in this regard? Recommend?"
Mike Aller lowered his head and thought for a while and said: "Boss, if you need to invest and acquire talents in this area, I really have a pretty good candidate here, but I don't know if he is willing to serve as the CEO of the Dragon Fund. "
"Oh? It's pretty good? It's enough to get your evaluation, that's enough to show that this person's ability is very good. Mike, don't hesitate to tell what you know."
"Okay, boss." Mike Aller nodded. "This man's name is David Anderson. He is from Pennsylvania. Before he retired, he had been working on Wall Street. He had done a lot of work and had done the best. The basic stock broker has also worked as a trader, and even a fund manager, and eventually retired as the head of the investment department at Goldman Sachs."
"Goldman Sachs? Still the head of the investment department?" Yang Jing immediately became interested when he heard that this person had also served as the head of the investment department of Goldman Sachs.
"Yes, before David retired, he did serve as the head of the investment department of Goldman Sachs. In fact, the business he was in charge of was the core business of the investment department. Even the senior executives of Goldman Sachs admired his ability. . With David’s ability, he is absolutely no problem even as a senior at Goldman Sachs. It’s a pity that this person’s personality is a bit weird, which is what we usually call high IQ but low EQ, and he is too old-fashioned to do things the year before last. That is, in the 1984 acquisition of Gulf Oil by California Standard Oil, as the person in charge of the acquisition, David had some conceptual conflicts with a senior executive of Goldman Sachs, which led to Goldman Sachs being there. In this merger, he lost to Chase Manhattan Banking Group, and became the scapegoat for the failure of Goldman Sachs' investment, and was eventually put on hold. David couldn't stand the anger, so he retired early and went home to recuperate."
"Oh? This Mr. David Anderson turned out to be the person in charge of California Standard Oil's acquisition of Gulf Oil the year before?" Yang Jing asked in surprise.
"Well, boss, there is something wrong with what you said. David is the person in charge of Goldman Sachs preparing to participate in this merger and acquisition. He has nothing to do with California Standard Oil. The one with him is Arco. It was just that he proposed at the time. The proposal was too radical and was rejected by Goldman Sachs' senior management. As a result, Goldman Sachs completely failed in that competition."
Yang Jing nodded silently.
Yang Jing is very familiar with the merger and acquisition case that occurred in 1984. He had studied the merger and acquisition case that year when he was studying economics in college.
In January 1901, Captain Lucas discovered the "Spindle Top" oil field in Beaumont, Texas. In May of the same year, Andrew Mellon and Richard, the heads of the Mellon Consortium, one of the eight largest consortia in the United States The Mellon brothers invested 1.5 million US dollars to establish the Ge Fei Oil Company, and later discovered the Greenpool oil field in Oklahoma, so Richard Mellon’s son William Larimo Mellon reorganized Ge Philippine Petroleum established the Gulf Oil Company.
After the First World War, the Gulf Oil Company entered Central and South America, but the oil fields discovered in Mexico were later recovered by the Mexican government and suffered a great blow. Later, Gulf Oil Company obtained an oil lease in Venezuela, but because of the 1931 The economic crisis was squeezed out by New Jersey Standard Oil, and Gulf Oil was in trouble.
However, afterwards, Gulf Petroleum established the Kuwait Petroleum Company in Kuwait in partnership with the British company Yingbo, and in 1938 discovered the Burgant large oil field and began a journey of prosperity. After World War II, because the Iranian government was dissatisfied with the United Kingdom, American oil companies were able to enter Iran, and Gulf Oil obtained the production of Iranian oil7.
However, with the nationalization of the oil industries in Kuwait, Iran, and Venezuela, almost all of Gulf Oil’s overseas upstream oil production was wiped out; and in the mid to late 1970s, Gulf Oil bought some non-oil "diversification". The poor management of the project resulted in almost all losses and had to be dealt with one by one. In addition, since 1981, the oil price on the international oil market has gradually fallen, which has caused the Gulf Company’s profit to decline. In 1982, although the total turnover was as high as 30.6 billion US dollars, the profit was not high. It is a continuous decline, with only 900 million US dollars in profit for the whole year. This also caused Gulf Oil's long-term share price of 40 US dollars to quickly fall to less than 30 US dollars.
And at this time, Gulf Oil’s board of directors made another unforgivable mistake. At this time, other oil companies were uncomfortable, but other oil companies quickly made up for insufficient reserves and increased oil production through mergers. The company's board of directors decided to borrow heavily from the bank and repurchase the company's stock from the market in an attempt to reverse the stock price. Unfortunately, this wrong approach caused a serious imbalance in revenue and expenditure, and ultimately caused the company to build up debts, fail to make good cash flow, and fall into trouble.
At this moment, a full-fledged villain appeared. He was Pickens, the owner of Mesa Oil Company, a small American oil company.
This guy has long aimed at the troubled Gulf Oil Company. He began to acquire Gulf Oil Company shares in the stock market as early as 1980, and publicly announced in November 1983 that he had mastered 13.1 shares of Gulf Oil Company, demanding Joined the board of directors of the Gulf Company. At the same time, this guy released a proposal to dismember Gulf Oil Company and greatly weaken the power of the company's board of directors and managers, but the company's board of directors categorically rejected it.
However, Pickens’s proposal has won the favor of most stockholders. Therefore, the Gulf Company has been messed up first. Pickens’s Mesa Oil Company took the opportunity to encourage Dresal Bank to give him financial support, intending to acquire more shares of the Gulf Company and gain control of it. The Gulf Oil Company’s board of directors was shocked by the news that the company was indeed in trouble. The directors believe that it is better to merge into a big oil company than to allow Pickens's conspiracy to succeed!
The news spread. Mobil Oil Company acted first, but its offer was too low. Gulf Oil Company considered this to be an "unfriendly" merger and rejected it. Subsequently, Arco received the support of Chase Manhattan Banking Group and offered to acquire Gulf Company for USD 13 billion. However, Standard Oil of California, which has the backstage of the Bank of America Group, immediately offered an "olive branch" of US$13.3 billion. Gulf Oil finally accepted the offer of California Standard Oil. The two parties took just over a week to reach the agreement like a blitzkrieg. The transaction. Since then, Gulf Oil Company, one of the seven oil sisters, fell into the arms of California Standard Oil, and a famous oil giant disappeared completely!
This merger and acquisition was the largest merger in history at that time, and the decisive performance of California Standard Oil in this merger and acquisition has been praised by future generations.
After California Standard Oil acquired Gulf Petroleum, in 2001, it acquired another Texaco, one of the seven oil sisters, and eventually became Chevron Texaco, the later generation of Chevron Texaco, which is among the top ten of the world's top 500. Famous regulars.
However, in this merger case, Goldman Sachs did not appear, and Mike Aller said so now, which makes Yang Jing a little puzzled.
Soon Yang Jing asked the question in his mind. He must ask, because Yang Jing must be careful with the CEO of the Evil Dragon Fund.
Mike Aller quickly explained this question to Yang Jing. "Yes, in that merger case, Goldman Sachs did not appear. That's because Goldman Sachs was completely out before the merger really started."
After a pause, Mike Aller continued: "At that time, the company that Arco first contacted was actually Goldman Sachs. As the person in charge of this merger, David pointedly pointed out that the acquisition price proposed by Arco was too low. The price of US$13 billion is not enough to impress the members of Gulf Oil’s board of directors. The price should be raised to a minimum of US$13.5 billion~lightnovelpub.net~ If there is a competitor, the price needs to be raised. After all, although Gulf Oil is somewhat different It’s too prosperous, but the skeletons are there. The seven oil sisters are not a joke. Even if they spend $13.5 billion or even higher prices for mergers and acquisitions, they are definitely worth it."
"But David's proposal was considered too radical by the senior management of Goldman Sachs. Goldman Sachs could only provide Arco with US$12.5 billion in support. As a result, Arco switched to Chase Manhattan Banking Group, because Chase Manhattan Banking Group was able to give Arco Provide at least 13 billion U.S. dollars in support."
"Facts later proved that David's proposal was not radical at all, but just right. If at the time Goldman Sachs agreed to David's plan and directly provided Arco with $13.5 billion in support, then even California Standard Oil Joining in, I'm afraid they won't get Gulf Oil. But because of the caution of the top Goldman Sachs, they lost Arco, and they were completely eliminated in that merger. In the end, David resigned in anger."
After such an explanation, Yang Jing understood it.
"Mike, according to your statement, did David have nothing to do with the merger case?"
"Boss, you can't say the same. If David's character is a little more mellow, and if the same words are spoken in a different way, he may be recognized by the senior management of Goldman Sachs. But unfortunately, although this guy is talented, this character... ..." Mike Aller shook his head.
Ps: Bow to thank "Kunpeng 3357" for 200 rewards, "Icy Octave", "A Little Monkey", "Flame Tianhuang", and "Gouache and Ink Are Here" 100 for rewards.