Reinventing the Millennium

Fang Zhuo's psychological quality is very good.

His psychological quality has always been very good.

When I saw some follow-up comments on the domestic Internet, I was not worried about my own reputation at first, but I looked at the public opinion in the United States to avoid any unplanned situation.

The American media did not pay attention to the ridicule of a rich man on the Internet in the Far East. With a series of shocks such as the bankruptcy of Lehman, the acquisition of Merrill Lynch, and the government's takeover of the insurance group, they were overwhelmed with themselves and the final election sprint in November. It has its own liveliness.

But it’s not like no one mentioned Mr. Fang, and even accurately mentioned the short selling of Lehman.

In order to criticize Fuld, the head of Lehman, some media brought up the fact that he was shorted by Mr. Fang.

"Lehman is so bad, no wonder people are shorting you!"

"Mr. Fang should go short, go short, and insist on shorting you!"

"Do you know how to write the word "Do you know?"

"Shameless!"

Fuld, who was beaten, was criticized verbally by the media, and he will have a lot of troubles in the future.

Fang Zhuo would never make trouble for the last leader of Lehman at this time.

As for the ridicule on the Internet... He increasingly has the experience of wandering around the world. Whether it is misunderstanding or praise, it is all mixed together to create reputation. Just like the visible light of the sun is divided into seven colors, red, orange, yellow, green, blue, purple, There is no need to dwell on the inner details.

Fang Zhuo's state of mind improved. He even gained something from observing Wen Zhengming's calligraphy that he bought earlier. He wrote four words in one stroke - not stuck in things.

On September 24, world financial markets were still volatile.

Just as Fang Zhuo was considering what to do after flying to New York, he received a call from Alan Fishman, the new head of Washington Mutual Bank.

MIGA Fund once had a very harmonious cooperation with Washington Mutual Bank.

Because of this relationship, Fang Zhuo roped in Washington Mutual Bank to make up for his expertise in the process of investing in ICBC.

However, as the MIGA Fund considered the risks of the CDO contract market and discontinued cooperation with it, the exchanges between the two parties became much weaker. Alan Fishman just became CEO on September 8, and there was no actual contact. .

Fang Zhuo was surprised to receive a call from Allen, and even more surprised to hear the purpose of the call after the two sides exchanged a few words.

"President Fang, the financial market has been too turbulent recently, and our bank has gradually suffered heavy losses this year." Allen's tone was very serious, "Washington Mutual Bank is in trouble now, and we really hope to get an emergency fund."

Fang Zhuo knew that Washington Mutual had a great time playing CDO before, and he also knew that it would inevitably encounter this round of backlash, but he didn't know how far it had reached. He thought about it and realized that the money he asked at this time was in units of hundreds of millions. Said: "Thanks to you, a company I just listed lost more than 2 billion yuan. The funds in my hands are also very tight and I can't move them out for the time being."

He continued: "Well, I will come to the United States in a while, and we will meet and chat then."

It's not impossible to borrow money, it depends on what you can come up with.

Fang Zhuo believes that Washington Mutual Bank has some useful information, and he can talk about it in detail when he gets to New York.

"Mr. Fang, Mr. Fang, Yike mobile phone sales are so hot this year. We can really talk in detail. I can fly to your place right now. Our bank only needs 500 million U.S. dollars in short-term pledged loans." Allen's voice was a little urgent. , “As long as we pass this level, there is still a lot of room for cooperation between us.”

Listening to these words, Fang Zhuo felt vaguely familiar.

Did Mr. Qimondaro make a similar promise when he borrowed money?

He said regretfully: "Alan, I'm telling the truth. The global economy is not doing well right now. My industry has suffered a lot of losses this year, and all the money a company makes is going back and forth."

Allen was silent for two seconds and said: "Mr. Fang, the MIGA fund did very well before and made a lot of profits on the CDO contract. Can you think of a way to help us deal with the emergency."

Fang Zhuo smiled and said a few polite words to you. Why are you still in high spirits?

"Just because I entered the CDO market with you before, the MIGA fund is now almost bankrupt."

"The bank is short of funds. I'm very busy right now. I'll give you my secretary's phone number. You guys can see if you can come up with a charter. We look forward to more cooperation in the future."

Fang Zhuo ended the call regardless of the voice on the other end of the phone that was still struggling.

Listening to Allen's request and voice, he should be similar to Mr. Luo, the troubled head of Qimonda. He has already given up everything for money.

Only then could I find myself, who had never dealt with him before, and be able to raise the profits that MIGA Fund had made from CDOs in the past.

Today's public opinion in the United States does not have a good impression of CDOs. Allen's bringing up the past is out of good intentions.

Fang Zhuo is not afraid of this at all. MIGA Fund has been liquidated in this regard very early, and current clients also have the ability to intervene in public opinion.

As for his attitude toward his former partner, Washington Mutual Bank, it was just... businesslike.

However, having said that, Washington Mutual is definitely one of the top ten banks in the United States. Has its situation deteriorated to the point where the CEO needs to call a familiar stranger for $500 million?

Fang Zhuo considered the significance of this matter and called Geithner's newly activated number to seek advice from the New York Fed in the name of considering borrowing.

"Its situation is very bad now." Geithner suspected that Mr. Fang was going to spend the money he had in the fund. "Don't have anything to do with it at this time."

He paused for a while, fearing that a wealthy man like Mr. Fang would be obsessed, and revealed a piece of news: "This bank is about to be taken over, and Allen will be the shortest-lived CEO. Neither it nor him will be a problem. We are working hard for it." Looking for buyers.”

Fang Zhuo was stunned: "Are you looking for a buyer for it? Allen didn't mention this. He hid the situation from me?"

Geithner paused for a long time this time, but still said: "The situation at Washington Mutual is very, very bad. If there were not the impact since the 15th, it might still have a chance, but now it can't. We cannot let the situation spread. , we can’t let Washington Mutual open a bigger hole, Allen didn’t hide it from you, he didn’t know this.”

"The CEO of the bank doesn't know that you are helping them find a buyer?" Fang Zhuo felt amused, "Are you sure this isn't illegal?"

Geithner said seriously: "Whether it's illegal or not, we can't make any more mistakes."

Then he added: "Of course it will be legal, everything will be legal."

At this time, Fang Zhuo recalled the voice from CEO Aaron Fishman, and felt that the voice was a desperate cry.

Since I made the call, I will inform you of the itinerary.

"I'm flying to New York in two days."

Fang Zhuo only talked about the itinerary and nothing else.

Geithner naturally understood what this person meant, sighed, and said simply: "Just wait."

What are you waiting for?

Waiting for the US$700 billion bill submitted by Abramovich to be passed in Congress?

Waiting for O'Brien to reverse the campaign situation with McCain?

Wait until Geithner and others gain more executive power?

Wait until the situation becomes more corrupt?

Fang Zhuo did not do much reading comprehension, but only slightly corrected the arrangements for his upcoming flight to the United States. He would focus on his own affairs first, and then look at how to help Geithners detoxify "toxic assets."

That night, he called Su Wei and talked about the bank asking him to borrow money.

"The bank is looking for you to take money to fill the capital hole..." Su Wei was surprised and amused, "You are really a rich man, one of the few rich people in the world!"

She added: "This Allen really used the wrong method. He should fly to Xiangjiang immediately, knock on the door of your room, and offer high-quality assets. It is best to shed two more tears, and maybe he can get it from you. money."

Fang Zhuo was silent.

Su Wei said in surprise: "Isn't this possible?"

"Now I feel that money is everywhere. No matter who comes, I have to do everything first." Fang Zhuo sighed, "After all, it's not easy for us to make money. It's hard to get some money. Of course Spend it slowly."

Su Wei just felt like vomiting, but she didn't know how to vomit.

Finally, she mentioned something that happened to a competitor: "It's true that everyone is short of money. I heard that Dangdang's logistics center in Wuxi has stopped working."

"Isn't the logistics center over there going to be built as a demonstration?" Fang Zhuo was a little surprised.

"Well, according to Dangdang, it is comparable to our No. 1 demonstration warehouse in Kunshan." Su Wei said, "They want to establish a foothold in East China through Wuxi. They say they will spend a lot of money to build it, but at the beginning of this year The economic situation is not very good. It is said that Dangdang has funds taken from abroad. Once Lehman went bankrupt, the construction site in Wuxi stopped."

Dangdang realized its shame and became brave after supplying a private jet last year, and worked hard to catch up. It has truly become a rival that Tesco deserves to take seriously in the B2C industry.

Three people go together there must be my teacher.

Suddenly awakened, Dangdang basically learned from the development of Tesco, built its own warehousing, established logistics, and expanded categories. It can be said that it is quite ambitious, and it has indeed made progress.

But there is also a problem. Dangdang is an unlisted company and its funding sources are not that abundant.

However, domestic investors have either become cautious due to the economic situation, or feel that B2C already has Tesco in the forefront, or they believe more in Mr. Fang’s methods of developing his business, so they are not very willing to invest in Dangdang.

In the end, Dangdang took money from foreign financial institutions.

"I know that Dangdang took money from Bear Stearns once." Fang Zhuo corrected the news. "Bear Stearns was acquired by Morgan this year. I don't know how the money was handled."

"Then we don't know. It's definitely not just this time." Su Wei was doubtful. "Anyway, it went so far as to stop work, which shows that the situation is really bad."

Fang Zhuo was speechless.

Regarding the development of the enterprise, I initially disliked Qingzi for being cautious and did not listen to advice, but now I am making such big strides and yet I am suffering again. It is really... impermanent.

"In short, it's quite chaotic. I'm afraid many companies will close down on the Internet this year." Su Wei said, "I plan to take a look at the situation. If Wuxi really can't build it, I think it would be good for Tesco to take over."

Fang Zhuo sighed: "Are you too cruel?"

They wanted to build a logistics center comparable to Kunshan No. 1 Warehouse, but half way through it was taken over by a competitor that was trying so hard to catch up. No matter how you look at it, you feel sad.

Su Wei said calmly: "You taught me that business is so ruthless. Besides, maybe they are willing to have someone lend a helping hand."

Fang Zhuo didn't say anything. After all, Mr. Su was the president who controlled specific affairs.

However, a little later, he didn't expect that when he received a call from Lao Xiong, he also talked about Dangdang.

“Yike mobile phone is great.”

"Financial markets are in chaos."

"Dangdang the situation is not good."

The communication between Xiong Xiaoge and Mr. Fang often tends to be simple. He first praised the first two things briefly and comprehensively, and then focused on the third thing: "Dangdang's warehouse construction in many places has been suspended, and some suppliers are still in arrears. The situation is quite serious.”

"I briefly communicated with Mr. Li. If it is not handled in time, the risk of bankruptcy will be relatively high."

Fang Zhuo was shocked: "Dangdang is bankrupt? Isn't it?"

"Why not?" Xiong Xiaoge was very surprised by Mr. Fang's reaction. He gave an example, "Lehman was bankrupted by you. How big is it? How big is Dangdang? In order to buy back your shares, we have They took their own mortgages, and their development over the past year has been very radical, but unfortunately, they encountered this financial turmoil."

"If it hadn't been for this turmoil, they might have been considering going public so that they could get more funds to pursue development."

Fang Zhuo was silent.

After a while, he remembered to refute a question: "I didn't cause Lehman to collapse. It was so big and I didn't have the ability. It was purely its own fault."

"That's what I mean. The focus is on the problems Dangdang encountered." Xiong Xiaoge said, "Our team analyzed it and found that Dangdang and Tesco are both B2C and have similar businesses. The most important thing is that the money Dangdang received was invested in warehousing construction. If Tesco can acquire Dangdang, it will strengthen its strength."

"Now Taobao is also developing Taobao Mall. I personally think it is advisable for Tesco to use acquisitions to strengthen its strength."

"Mr. Fang, what do you think?"

Fang Zhuo carefully considered the proposal from Lao Xiong.

The country has also been hit by the financial crisis. Previously, he paid more attention to the semiconductor industry, considering maintaining the development of the industry and trying to bring together administrative forces. Now he focuses on e-commerce...

Taobao no longer conceals its competitive intentions, and Qingzi has a good relationship with him.

If Tesco reaches out and takes over Dangdang, it can further expand its logistics advantages and realize a user experience with wider radiation range and faster transportation speed as soon as possible.

In Tesco's plans for the next few years, warehousing and logistics have always been a high-priority part.

"Old Xiong, are you working as a lobbyist for Qingzi?" Fang Zhuo asked.

"It doesn't count. I am an investor after all. From an objective point of view, I think this is a win-win situation." Xiong Xiaoge thought, "The only thing that may be an obstacle is probably Mr. Li's perception of you. It doesn't exist. I would rather sell it to others than to you, Mr. Fang."

Fang Zhuo asked again: "Dangdang has a partial logistics and warehousing system. Do you think Taobao will take action at this time?"

"It depends on what Mr. Ma thinks. If he insists on his approach of building a platform and being asset-light, then he won't." Xiong Xiaoge has already considered it, "After all, he would rather change Taobao CEO than stick to it." Thoughts, but if he has a new experience during this period, he might take action."

Malan's Taobao Mall is now the prototype of a platform-based B2C. It is still attracting major brands to settle in. It does not have its own warehousing. It is somewhat similar to Taobao's C2C approach, but it only upgrades small and medium-sized merchants to large merchants.

Fang Zhuo thought quietly for a while and felt that there was a dilemma. Taobao Mall's established development model might not have been frustrated, but it might also be cut off in order not to strengthen its opponents.

"Old Xiong, you and Qingzi have not lost contact, so you two should communicate first. I am going to New York in two days. I will leave this matter to Mr. Su. In principle, I think this is a good opportunity."

"Okay, there's no need to rush." ​​Xiong Xiaoge ended the call neatly, "Dangdang's next situation is likely to worsen, and everyone is also waiting to see the economic situation this time."

Fang Zhuo held his cell phone, never expecting that the first acquisition decision after Lehman's collapse might come from China, for an old friend.

He suddenly had the feeling that it had only been seven days in the mountains and a thousand years had passed in this world.

Fang Zhuo thought about this matter for a while, then called Su Wei again and explained the situation concisely.

Su Wei didn't expect that what she heard after a while was completely different.

I just want to buy a warehouse, but this man actually wants to buy Dangdang directly?

She hesitated for a while and asked using the words she heard before: "Are you too cruel?"

Dangdang's current situation cannot be separated from this man. If it ends up being acquired by a competitor... it would be too sad!

Fang Zhuo was helpless: "Then I can only teach you one more time. Business is so ruthless."

"Received, I'm going to check the situation in China. The most important thing is to find out the debt situation of Dangdang." Su Wei quickly formulated several policies in her mind, and she agreed with the view that acquiring Dangdang would enhance competitiveness.

Fang Zhuo put down his mobile phone and couldn't help but walk to the floor-to-ceiling window and look at the night view of Victoria Harbor.

If it comes to this, it may not be a bad thing for Qingzi to take the money and leave. After all, there are many, many opportunities in today's era.

The first possible acquisitions will also take time to validate and engage.

As Fang Zhuo began to prepare, the latest news from Washington Mutual came from the United States.

On the 25th, the headquarters of Washington Mutual Bank in Seattle was seized and taken over by the Federal Deposit Insurance Corporation (FDIC), while its head, Allen, was still on the passenger plane at a loss.

It is rumored that the FDIC is interested in facilitating Morgan's acquisition of Washington Mutual Bank.

All procedures were indeed legal, even if the bank management had no idea that the authorities had found a buyer for them.

Fang Zhuo felt the spread of legal and secret power from the news.

After Morgan acquired Bear Stearns, it is likely to acquire Washington Mutual Bank at a bargain price and continue to expand its scale during the financial crisis.

It is worth mentioning that on this day, the media also declared that "the worst is over."

With Washington Mutual becoming the largest bank failure in U.S. history, it was clear that the worst was only beginning.