Reborn Industrial Tycoon

Chapter 632 Really bankrupt!

Lin Mancang confidently made the bold statement that even if their Huafu Group went bankrupt, Enron would not go bankrupt.

It is normal to set such a flag. After all, in 2000, Enron was still ranked 16th among the Fortune 500 companies.

Oil prices have risen sharply this year, and many energy companies have moved to the top of the list.

For example, Mobil successfully knocked General Motors out of the No. 1 position. Shell of the Netherlands and BP of the United Kingdom ranked sixth and seventh respectively. France's Total ranked 13th, also above Enron in the world rankings.

Five of the top twenty companies are energy companies.

How can one of the top 20 companies in the world be said to be bankrupt?

Director Wang, who presided over the meeting, pondered for a moment, looked up at Li Weidong, and asked: "Chairman Li, what do you think?"

After all, Li Weidong was the first person to raise the issue of Enron, so Director Wang planned to listen to Li Weidong's opinion.

Li Weidong immediately replied: "I still stick to my previous point of view. I think Enron will go bankrupt soon. If we use Enron's technology, it will definitely affect the construction progress of the entire West-East Gas Transmission!"

Lin Mancang suddenly raised his eyebrows and glared at Li Weidong angrily. He said to himself: I just said that Enron Company cannot go bankrupt. You just said that Enron Company will go bankrupt soon. Are you deliberately going against me?

So Lin Mancang said angrily: "Chairman Li, how fast did you say soon? Is it a day? A week? A month? Or a year? If it's one day, does that mean that Enron will go bankrupt tomorrow?

?”

"I think Enron will file for bankruptcy within a month!" Li Weidong said decisively.

"One month? What is the basis for the judgment? It's not just a guess, is it?" Lin Mancang continued to say in a strange way.

"Of course I'm not guessing. I made a judgment based on economic knowledge." Li Weidong responded calmly.

"Knowledge of economics?" Lin Mancang snorted coldly, and then said: "There are so many economists here, pick one at random, and his knowledge of economics is not as rich as yours, Chairman Li?"

Li Weidong smiled and nodded: "Indeed, in terms of professional level in economics, I am indeed far less knowledgeable than the teachers. But when it comes to economic predictions, my predictions are quite accurate, at least so far.

I have never failed. Mr. Lin, if you don’t believe it, you can ask some teachers.”

Li Weidong successfully predicted the Japanese financial bubble and the Asian financial crisis. Everyone present knew this. When it comes to the accuracy of his predictions, Li Weidong did his part.

The economists present were speechless, which was equivalent to acquiescing to Li Weidong's statement.

Lin Mancang also knew that Li Weidong's predictions were very accurate. In this regard, he really couldn't refute Li Weidong.

So Lin Mancang said, "Chairman Li, even if your prediction is accurate, the prediction is for something that has not happened. Since it has not happened, the prediction is not necessarily correct.

Today you predict that Enron will go bankrupt within a month. Time will verify the authenticity of your prediction. But we can’t do nothing and just wait for a month, right?

We may be able to wait for one month, but if next time, you say Enron goes bankrupt in one year, or Enron goes bankrupt in two years, we can't wait for one or two years, because then it will affect the progress of the project even more!

So I think we can’t wait any longer, the project construction cannot be stopped, the previous contract should be signed as soon as possible, and our Huafu Gas can start the construction of the natural gas pipeline immediately.”

Lin Mancang made it clear that he planned to sign the contract first. As long as the contract was signed and Huafu Gas started construction, the rice would be cooked.

By then, unless Enron really goes bankrupt, other external forces are unlikely to affect the construction of natural gas pipelines.

"That makes sense. We can't affect the construction progress of the project because of something that hasn't happened yet." An expert next to him immediately agreed.

Director Wang nodded slightly. Although Li Weidong firmly predicted that Enron would collapse, this has not happened yet. We cannot stop the pipeline project just because of something that has not happened yet!

Li Weidong also felt that Director Wang's attitude had relaxed, and he could only sigh silently in his heart.

Although Li Weidong has a record of divine predictions, predictions are predictions after all and can only be used as a reference. For strategic projects such as the West-East Gas Transmission, it is impossible to make decisions based on one prediction.

Thinking of this, Li Weidong said: "Director Wang, in fact, I have no objection to the project being constructed by Huafu Gas. What I am worried about is that once Enron collapses, it will inevitably affect the construction process and the entire West-East Gas Transmission Project.

will have an impact.

There is indeed a problem with Enron at present, and at this point, I think some preventive measures should be taken, or an additional layer of insurance should be added to the project to avoid unnecessary losses."

"Chairman Li, have you thought of those preventive measures?" Director Wang asked immediately.

"I have two main suggestions. First, I think it should be clearly stated in the contract. If Enron collapses and cannot continue to provide technical support to Huafu Gas, then Huafu Gas should launch it unconditionally. This project should

Immediately let other companies capable of construction take over."

Li Weidong paused and then said, "We all know that Huafu Gas was previously engaged in the distribution business of natural gas. It lacked technology and experience in the construction of natural gas transportation pipelines. Without the technical support provided by Enron, Huafu would

It is difficult to complete the construction independently with gas.

Once Enron collapses and Huafu Gas loses technical support, the entire project will not be able to continue. If Huafu Gas continues to be responsible for the project, it will only be a waste of time. It is better to leave it to other capable companies to at least guarantee the project.

We can continue with quality and quantity.”

Director Wang immediately looked at Lin Mancang and asked: "Mr. Lin, what do you think of Chairman Li's suggestion?"

Lin Mancang did not bargain, he nodded: "We at Huafu Gas are not the kind of owners who occupy the pit and do nothing. If Enron really cannot provide technology, then we will take the initiative to step aside and make way for someone better. I, Lin Mancang, promise

, the construction and construction progress of the project will definitely not be affected by the problems of Huafu Gas."

Director Wang nodded with satisfaction, looked at Li Weidong again, and asked: "Chairman Li, what is your second thought?"

"I hope that in the preliminary measurement work of the project, alternative companies can be directly introduced. In this way, once there is a problem with Huafu Gas, the alternative company does not need to re-measure and can directly carry out construction planning and construction, which can save money.

A lot of time, at least the project delays can be reduced." Li Weidong said.

The candidate company Li Weidong mentioned was Huanghai Petrochemical. After all, only these two companies entered the final bidding stage.

However, this time, Lin Mancang shook his head: "No, we Huafu Gas do not agree! This is originally our Huafu Gas project, why should other companies interfere!"

"Mr. Lin, if it is just a measurement, it will not affect the normal construction of Huafu Gas." Li Weidong paused and then said; "And I think Enron will file for bankruptcy within a month. By then, the measurement work of the project should have just begun.

It is completed and has not yet entered formal construction. If we change the backup company at this time, there will be no loss in construction period at all."

"Haha, Chairman Li, what do you mean, Enron is definitely about to go bankrupt?" Lin Mancang asked with disdain.

"My judgment has always been very accurate." Li Weidong said, looking at Director Wang, and then said: "Director Wang, my suggestion is to add an additional layer of insurance to the project. For the entire West-East Gas Transmission Project, it is beneficial.

It’s all beneficial and harmless.”

"Indeed, it is always good to have more protection." Director Wang looked at Lin Mancang and said: "Mr. Lin, it is just a pre-construction measurement and it will not affect the official construction of Huafu Gas, right?

"

Director Wang said so, and Lin Mancang had no choice but to nod and agree.

…

Early in the morning, several senior executives gathered together for another meeting in the Huanghai Petrochemical conference room.

"Huafu Gas has completed the contract signing. It seems that we have no chance of this project!"

"I thought that Li Weidong was so powerful. After struggling for so many days, he finally got us a spare tire identity!"

"Don't we now have the opportunity to conduct field measurements? A good start is half the battle!"

"The construction scale of this project is quite large. If we go to measure it, we will have to spend a lot of money, right? After we spend money to complete the measurement, it will be Huafu Gas Construction in the end. By then, it will be nothing but a bamboo basket.

A lot of money was wasted!”

In the conference room, everyone was full of complaints and pointed the finger at Li Weidong.

Song Jinlong looked at everyone with a livid face, and then said: "Yesterday, I had a phone call with Li Weidong. He asked us to be calm. According to his judgment, Enron will file for bankruptcy within a month! By then Hua Hua

If Fu Gas cannot obtain technical support, the project will naturally fall into our hands."

"Within one month, Enron will go bankrupt? Isn't this a fantasy? So many companies were in recession in the past few years, but they managed to survive for another two or three years before they were on the verge of bankruptcy!"

It was Lao Du who spoke, and he continued: "There is a saying that a skinny camel is bigger than a horse. After all, Enron is one of the top twenty companies in the world. Their scale is not much larger than our domestic companies?

Our domestic companies can survive for another two or three years. Even if Enron is really in trouble, five or six years is not too much! If you say that Enron will go bankrupt within a month, I don’t believe it!”

"Back then, our city's No. 3 National Cotton Factory lasted for five years after it stopped production. It was enough to pay living expenses to laid-off workers just by selling land."

"Yeah, didn't the furniture factory last for six years? I heard that when it finally went bankrupt, it pooled its assets and sold them for tens of millions more!"

"Enron must have tens of billions of dollars in assets, right? If they were all sold to pay wages, it would be enough to last until retirement. Moreover, Enron only has problems now, and it is not really bankrupt!"

"I see, this Li Weidong is still unreliable. He said that Enron will collapse within a month, just to perfunctory us! Maybe he thinks that after a month, as long as he doesn't mention this matter, we will

Forgot!"

At this moment, the secretary knocked on the door and walked in, coming to Song Jinlong's side.

"What's the matter?" Song Jinlong asked.

"Director Song, didn't you ask me to pay attention to the situation of Enron in the United States and notify you immediately if there is any new news?"

The secretary paused for a moment and then continued: "I just got news that Enron admitted to making false accounts and falsely reported profits of US$600 million! Some American companies have expressed their willingness to acquire Enron. Enron may not be able to do so this time.

Got it!"

…

"Since 1997, approximately US$600 million in profits have been falsely reported?" Looking at the news, Li Weidong pouted with disdain, and then said to himself:

"Enron reported a loss of US$618 million last quarter, but over the past four years it has only falsely reported a profit of US$600 million. Who would believe it?"

600 million US dollars in four years, an average of 150 million US dollars per year. This number is like a joke.

Last year, Enron's financial report stated that its profit was still US$100.8 billion. If it could earn US$100.8 billion a year, how could it falsely report US$150 million!

This is like a person who earns tens of thousands a month. When someone asks him how his income is, he deliberately says 15 yuan more. Does it make sense?

Many large companies in the United States donate more than 150 million U.S. dollars to asset institutions every year. If you really have the time to make fake accounts of 150 million U.S. dollars, you might as well donate money to avoid taxes and save the money legally.

Earn a good reputation.

It is clear that Enron, under pressure from all sides, had no choice but to admit that it had falsified its accounts, but it only admitted a drop in the bucket.

But even though the entire Wall Street knew that the $600 million in false accounts that Enron said was just a fraction, there was nothing they could do about it because Enron's financial reports were truly flawless.

Enron spent tens of millions of dollars every year on the false accounts produced by Anxinda Firm. How could it be so easy to find flaws?

So how many false accounts did Enron make over the years? Unless Enron itself admits a figure, it is difficult to get a true figure.

In other words, when it comes to falsifying accounts, Enron said it was whatever it said, and no one else would be able to find out even if they wanted to.

It was precisely because this part of the information was so opaque that the public and investors lost trust in Enron. Therefore, when the Enron incident broke out, Enron's stock price fell sharply.

At its peak, Enron's stock price was as high as 90 U.S. dollars per share, while Microsoft's stock price was only a dozen dollars at that time. Apple's stock price was even worse, with its stock price less than 1 U.S. dollar.

After the Enron incident broke out, Enron's stock fell to $0.26, a total shrinkage of 350 times!

In the stock market, it is not uncommon for stocks to shrink by 350 times. Many so-called monster stocks have shrunk to the point of being delisted.

But given the size of Enron, the situation is completely different.

For a small company with a market value of more than one billion, even if its stock shrinks or is delisted, the impact will not be great.

Enron was the 16th largest company among the Fortune 500 companies. With such a scale, the stock shrank by 350 times. The results can be imagined.

What's more, Enron also issued a lot of corporate bonds.

After the Enron incident broke out, Standard & Poor's continuously downgraded Enron's bonds within a month, eventually downgrading them to "junk bond" status.

Countless investors went bankrupt in an instant, and almost every famous investment fund was hit by a thunderstorm.

…

Early in the morning, Lin Mancang was sitting at the dining table, enjoying breakfast. The morning news was playing on the TV in the living room.

"Please watch the international newsletter below...

"Russian astronauts troubleshooted the space station and successfully docked the spacecraft..."

"The advent of cloned human embryos has triggered widespread controversy from all walks of life..."

"Due to a prediction error, a Japanese satellite crashed into the ocean within the Antarctic Circle..."

"Enron Corporation of the United States officially filed for bankruptcy, which is the largest bankruptcy case in the history of the United States..."

Upon hearing the news, Lin Mancang's hand holding the chopsticks suddenly shook, and the poached eggs immediately fell into the soy milk, splashing all over his face.

However, Lin Mancang didn't bother to wipe his face, quickly got up and ran to the TV.

At this time, other news had already begun to play on the TV. After all, it was just an international briefing. The introduction to the Enron bankruptcy case was only a short sentence.

"Fake news! How could Enron go bankrupt!" Lin Mancang subconsciously looked at the station logo in the upper left corner of the TV.

Central Channel 1, it can’t be fake news.

"Is Enron really bankrupt?" Lin Mancang suddenly remembered Li Weidong's prediction, and then cursed fiercely: "Li Weidong is such a crow's mouth!"

…

In the conference room of Huafu Gas, everyone looked solemn.

"Mr. Lin, I have contacted Enron, but the other party did not answer the phone, sent an email, and has not received a reply so far," the subordinate said.

"If you don't answer the phone or reply to the email, it seems that Enron is really going to go bankrupt!" Lin Mancang said anxiously.

"Mr. Lin, don't worry yet. Don't forget that there is a time difference between China and the United States. It's morning here, but it's midnight over there in the United States. People have rested in the middle of the night, so it's normal not to answer the phone." Someone said.

comforted.

"That's true, it's night over there in the United States!" Lin Mancang calmed down and continued, "But we still need to get the exact information about the United States as soon as possible. If any of you have friends in the United States, try to contact them and ask them as soon as possible.

Find out what happened to Enron!"

Another person next to him said: "Mr. Lin, I don't think we need to be too anxious. Even if Enron really goes bankrupt, other companies will come to acquire it.

After all, Enron is engaged in energy trading, and international energy prices have risen sharply in recent years. Energy is very profitable. Enron will definitely have many high-quality assets worth acquiring.

And whoever acquires Enron will definitely want to enter the Chinese market, and then they will have to cooperate with Huafu Gas, so our project will definitely continue!

What's more, let's not forget that there is also the US government! Enron is the second largest energy company in the United States, and its status in the United States is equivalent to our country's Sinopec. How could the US government allow Enron to go bankrupt!

I thought that at the critical moment, the U.S. government would definitely take action to rescue Enron. So we don’t have to worry at all. As long as we wait for the U.S. government to take action, the problem will naturally be solved!"

"That makes sense. We were all considering business factors before, but we didn't expect that the U.S. government and a company as big as Enron would go bankrupt, and the consequences would be disastrous. The government can't just let it go!"

Lin Mancang took a deep breath and continued, "The U.S. government will definitely take action to save Enron!"

As soon as Sunday came, I had no intention of typing, but I ended up writing half of it yesterday. I just took this opportunity to try to adjust the update time. Thank you for your subscription, thank you for passing the test!