Chapter 164： Who's the unlucky one?

At that time, William Chen reached a settlement with Goldman Sachs, allowing Goldman Sachs to repurchase CDS bonds with a total premium of $1 billion at a price of $600 million, and to obtain a low-interest loan of $1 billion from Goldman Sachs.

This total of 1.6 billion US dollars of funds mainly shorted four subprime mortgage-related investment bank stocks, namely Merrill Lynch, Citigroup, Bear Stearns and Lehman Brothers.

In addition, in Fund 2 and Fund 3, there are also many short contracts for these stocks, but the stocks shorted by these two funds are broader, not limited to financial stocks.

At present, Bear Stearns' stock short positions have all been closed, and the remaining stocks have also experienced different declines. Generally, the declines are more than 80%, and there are even more than 90% declines like Bear Stearns.

The current situation is that in addition to Bear Stearns being acquired, the other three investment banks are also the big investment banks that have been most affected by the subprime mortgage crisis.

Merrill Lynch was also exposed to losses very early, and it is struggling now. The situation of Lehman Brothers is not much better, and it may even be worse.

Therefore, Chen William's side is not in a hurry to close the short positions for the stocks of these three investment banks.

Compared with these, William Chen is more concerned about the affairs of Building 666.

According to Alicia and Uncle Tom's questioning about some of the accounts in the Kushnar Group's special account for the renovation of the 666 Building Asset Management Company, Garred explained that a total of nearly 100 million US dollars was not paid according to the predetermined plan, Instead, it was paid in advance to the builder responsible for the renovation project.

These construction parties are inextricably linked with the Kushnar Group, so they have reason to believe that the Kushnar Group is using this method to transfer some of the funds in the special account.

According to the contract signed by the No. 666 Building Asset Management Company and these construction parties at that time, the renovation project will be paid in three batches. When the project starts, 30% will be paid as the advance payment for the first phase. When the project is in the middle stage, 30% of the payment will be paid, and the final 40% will be settled after the completion of the inspection and acceptance.

At present, the renovation project of Building 666 has been carried out for about three months, which is less than half of the estimated renovation time of 10 months. Therefore, all the current construction parties should only receive 30% of the total project cost of 3 billion US dollars. That's $900 million.

However, in the previous audit by Deloitte, it was found that the current special account for the renovation of the No. 666 Building Asset Management Company has paid 1 billion US dollars, and the extra 100 million US dollars has all flowed to the construction party. There are thousands of Kushnar Group. Three inextricably linked.

At the beginning, the construction parties of the project were all qualified for construction through bidding. Of course, as the controlling party of the building and Kushnar Group, which has been operating in the real estate industry for a long time, it is normal for their affiliated construction companies to enter the project. But with the supervision of William Chen, they couldn't go too far. Therefore, their constructors accounted for about one-third of all renovation projects.

Although Garred explained that the overpayment of 100 million US dollars was due to the impact of the subprime mortgage crisis, those construction parties had financial difficulties. In order to ensure that the project was carried out on time, part of the funds were allocated in advance to ease their financial difficulties.

However, it is obvious that they only paid the construction costs of the construction parties that they have a relationship with in advance, so it is very likely that in this way, the funds will be transferred back to the Kushnar Group to deal with the financial difficulties caused by the crisis at this time.

And Chen William suspects that this method is only their initial test. If it is not discovered, it will intensify later. It is estimated that the life of the Kushnar Group will not be easy at this time. With more than $1 billion in cash sitting around, that's no longer normal.

Of course, William Chen definitely couldn't give them this opportunity, so he decisively asked the Kushnar Group to recover the overpaid $100 million, and to standardize the financial system so that this situation could not happen again.

Even if Gared called him personally and said a lot of good things, I hope Chen William will let this time go, and this will not happen again next time. Chen William showed no sympathy at all, and they had no sympathy before. He said that the overpaid $100 million must be recovered within a time limit, and financial supervision will be strengthened later. Before half of the construction is completed, No further overpayments will be permitted.

As for what method Gared will use to make up the 100 million US dollars, that is not what he cares about. I believe that the other party will not dare to play any tricks. The current situation of the group is not very good, it will undoubtedly make things worse.

But it's hard to say. If there is really a big crisis, maybe he will take the risk. It seems that the supervision of the account here cannot be relaxed.

It's just that William Chen still has one more thing to consider, that is, there is a prop in his inventory that has been kept for this purpose——

This is a scroll that can fulfill a certain wish. Writing a goal on the scroll will release a black swan that will affect the occurrence of certain events and lead unexpected factors to your goal. Level: Beginner, less impact on unexpected factors, need to cooperate with the general trend to complete the goal.

Originally, William Chen planned to use this scroll to help himself buy back the building if things changed in Building 666. But now the situation is different from before, that is, its own assets, after the subprime mortgage crisis, have reached a higher level.

Seriously, in order to pay hundreds of millions less for the repurchase of Building 666, is it possible to use such a rare scroll? Yes, even if the building is repurchased at this time, which is to buy back the shares of the No. 666 Building Asset Management Company in the hands of Kushnar Group, then William Chen has calculated that he will pay about 300 million US dollars less than before. This price is considered a conscience price. .

If it is used, it will reduce the price by one or two billion dollars at most. Unless he waits until the renovation of the building is completed, the $2 billion loan will be converted into company shares by the Kushnar Group, but after more than half a year, maybe things will change again.

And now William Chen also needs other things, such as the acquisition of 20th Century Fox from Murdoch, this scroll can also play a more important role.

So what he has been thinking about now is where to use this scroll?

In the end, Gared or Murdoch, who is more suitable to be the unlucky one?

Oh, it's really confusing.

If you just look at the final profit and the importance of its overall layout, 20th Century Fox is undoubtedly more important After all, this company is not necessarily sold by Murdoch, it depends on luck , and the use of it can undoubtedly increase this possibility.

As for Building 666, after investigation, Kushnar Group is indeed in financial distress. If it raises the price a little, the other party is likely to be willing to sell its shares. After all, from now on, next year In February, it is almost impossible for Kushnar Group to provide another $1 billion as the second payment of the 2 billion loan in the agreement.

And if they can't come up with the money at that time, according to the agreement signed at the beginning, William Chen can use the market price to repurchase the shares of Building 666 Asset Management Company held by Kushnar Group.

Unless that Marian Bentley really supports Gared so much, he can convince the Bentley family to come out with the money.

Thinking of this, Chen William sighed, let's take a look first, give a more conscientious price, in fact, will the other party let go of selling the shares of Building 666 Asset Management Company? If Gared refuses, then it can only show that he With the support of the Bentley family, you can only choose him to be this unlucky **** and use it on him.

Gared, I tried my best, if you still choose to fight hard, you can only be a bad luck. In other words, you don't want mine from South Korea to be used on you again, otherwise you may not be able to keep 80% of the men.

Thinking of this, William Chen seemed to have seen that scene—

Under the setting sun, Gared was running freely on the endless prairie...

That's our lost youth, er no, playing together.