Mediterranean hegemon

Faced with an estimated loss of 40 million lire, Contini smiled bitterly: "Uncle Antonio, I'm afraid it's not enough. You have to calculate more, because IBC and United Radio are about to start preparations..."

Thanks to Contini's precautionary arrangements and Marconi's influence, as well as his hard work in admitting army personnel and dealing with Matteotti, the establishment of the Italian National Broadcasting Station (IBC) was quickly approved, and the Italian government It owns 30% of the shares but does not directly contribute capital, and only provides support with frequency, land and other facilities. The remaining shares are shared by Contini and Marconi, of which United Group owns 40% and Marconi owns 30%. In fact, Contini is responsible for most of the funds, and Marconi only provides some necessary equipment and technical maintenance personnel.

The overall investment is 10 million lire in the first phase and will reach 30 million lire within three years. Almost all of this money will be paid by Contini's United Group.

However, Contini did not gain anything. Both the Italian government and Marconi stated that they would not interfere with the specific operation of broadcasting. The control can be in Contini's hands. Mussolini even personally promised that within the next three years, He will never agree to open a national radio station of the same type again. Of course, the implication is very clear. If IBC has reports involving the government, Contini must be responsible for maintaining "fairness and reasonableness" - such as "criticisms like those of Youth Daily" "Report.

Contini understood this well. Mussolini would not leave a radio station to cause trouble for himself.

In addition to broadcasting, the United Radio Company will also start to be established this year. Of course, Contini will enjoy the controlling stake, but investment will also require him to spend a lot of money. Marconi will only invest in technology, patents and some personnel.

"Master, in this case, the loss budget may exceed 50 million lire, and our financial pressure will be too great..." Antonio calculated the calculations for Contini, "United Motorcycles has invested nearly 30 million liras. Lira, although United Airlines currently invests less than 30 million, it needs to invest at least another 20 million in the construction of its two bases in Rome and Milan. In addition, staff salaries are a big expense, and the broadcasting and radio you just mentioned require another With an investment of more than 20 million lire, I estimate that it will cost at least 120 million lire... This is equivalent to US$6 million, and our current funds in Italy are less than US$4 million.”

Contini nodded: He made more than 15 million in profit from Germany, 10 million went to the United States, 1.5 million was given to old Ciano, and he only had 3.5 million left, which is equivalent to 70 million lire, far from the current year's expenditure. There is still a shortfall of 50 million lire, not counting the messy expenses of the "Youth" newspaper office and the alliance.

"And our income is pitifully small. I don't expect the income from aviation training to be more than 1 million lire. The postal shipping we just signed can only be exchanged for 500,000 lire at most. I don't know how much United Motors' products can be sold. Even if it is Selling 1,000 vehicles won’t help, because I don’t think I can make much money…” Antonio sighed, “I know that these expenses are not entirely losses, many of them have turned into buildings and fixed assets, and losses in the early stages of starting a business are It is a normal phenomenon, but our cash flow will be severely tested, which is very dangerous for the enterprise. After all, a reasonable profit model has not yet been formed, and the strategy you adopted is to develop multiple industries together. At that time, whichever one When something goes wrong, it drags down other businesses—even if they are healthy!”

"We have favorable conditions for a loan..." Contini pondered. "My father used the family property as a mortgage to borrow 30 million lire. This money is not included in the balance sheet. That is, as far as Guanglian Group is concerned, we We currently have zero debt and can definitely get a loan. I believe our assets are still somewhat attractive to banks.”

"How much do you plan to borrow?"

"United Airlines' Rome base and aircraft can be mortgaged, and the land owned by United Motors can also be mortgaged. I think it won't be a problem to borrow another 30 million lire, right?" Contini thought for a while, "When the funds are in place, IBC and United Radio should also be beginning to take shape, and I think it will not be a problem to continue borrowing 15-20 million lire. In addition, if funds are really tight, those public transportation shares can also be used as collateral..."

Since Contini used means to obtain loans from Germany to acquire some vehicles, it becomes logical to subsequently invest in public transportation. Although Contini cannot account for the majority of these companies, 15% of the public utility shares are also considered bank loans. valid collateral.

"Master, you can do this this year, but what about next year? What about the year after that?" Antonio sighed, "Don't call me a fool, I think the United Group's industries may not be able to achieve profits not only next year, but also the year after that. We must rely on Continuous investment.”

"There is no need to worry next year. First, United Motorcycle's products will open up sales; second, our speculation in the stock market will bear fruit..."

The reason why Antonio can sit down and talk about these issues calmly is that the US$1,000 from the United States still gives him the confidence. But when he talks about the results of speculation, his brows immediately frown: "Master, there is something not very good. I'm afraid you need to be mentally prepared for the news. A stockbroker in the United States sent a telegram saying that the first batch of 5 million U.S. dollars of stocks has been fully purchased. However, U.S. stocks have continued to fall during this period, and we have lost almost 300,000 U.S. dollars. ”

"It seems that the decline is not that severe..." Contini smiled slightly, "Buy another 5 million US dollars, the purchase list is the same as last time, I hope to complete it before March without attracting market attention."

At present, the US stock market implements a margin trading system. As long as it exceeds 10,000 US dollars, you can use the margin account to trade, but the leverage of stocks is not as high as that of foreign exchange and bonds. According to risk management and scale, at least 10% of the margin must be paid. However, Contini dare not use all the leverage now. Mark's speculation taught him a lesson: even if he fully knows the historical trend, the small correction in the middle is fatal enough, so he took out 10 million US dollars and only dared to buy 10 million cautiously first, and then carefully increase the leverage. If he directly increased it by 10 times in one go, as long as it fell by 10%, everything would be finished, and a 10% drop in the stock market is a normal correction.

Antonio couldn't understand Contini's confidence. He believed that the US stock market might rise or continue to fall. Although it seemed difficult to lose 10 million US dollars with this buying method at present, who would dare to predict that it would rise next year? Even if it really rises, it has to rise enough. If it only grows by 10%, it will not help the situation in Italy at all. But he is a smart man. It is only February now, and the money that the young master got from Germany has not been spent completely. He can still observe and wait. When he has to stop, he will force the order to cut off his arm.

"Okay, since you are so confident, I will send a telegram to the United States tomorrow to let it do it."

"Don't worry, you will know next year." Contini was full of confidence. "Now that our business is just starting, we must have an indomitable momentum. These are strategic losses. You can't do big things by calculatively. I have decided that after the stock market rises next year, I will withdraw some money to start a bank - to open up a complete financial closed loop!"

Antonio couldn't help shaking his head when he heard it: there are already three loss-making industries, and the young master is eyeing a new bank. It doesn't look like the rhythm of doing a big job. It is clearly a sign of a big loss. Young people who are not down-to-earth and only think about making big news all day long will fall.

But I can’t say this for the time being, at least not now…