Chapter 758： accounting

Early June 2007.

The U.S. Department of Commerce issued an announcement. The document showed that the number of new housing starts in the United States fell by 2.5 last month, the largest drop in nearly two years.

At the same time, the National Association of Realtors announced that the housing index fell to 32 points, dropping to a two-year low.

According to statistics, the contraction of the real estate market will lead to a decrease of 0.7 gdp in the second quarter of 2007 and a decrease of 1.2 in the second half of the year. With the cold snap of the property market, the construction, cement, steel and other industries related to real estate have also begun to be impacted.

Is the economy cooling down, and there are a number of other reasons, including the impact of the Federal Reserve raising the bar for bank lending.

But no matter how many factors are caused, the economic cooling itself is also a natural process of the economic cycle. Now it and the sudden decline of the property market share have formed a feedback loop that promotes each other.

Meanwhile, the U.S. unemployment rate rose to 4.8 in June from 4.5 in April, the highest level in the previous six months.

In this regard, Edward Lazier, chairman of the White House Council of Economic Advisers, said that the downward revision of economic growth expectations was mainly affected by the cooling of the US real estate market, and the cooling rate exceeded most people's expectations, but he also emphasized that although the US economy has experienced the housing market. The impact of cooling, but it is still operating steadily.

In fact, he was too optimistic.

If only the real estate bubble, the consequences are not so serious, after all, it is just a market problem. But on the basis of the real estate bubble, it would be more embarrassing to encounter the subprime mortgage bubble that existed because of Wall Street's riotous operations.

Unfortunately, the subprime mortgage bubble is now huge, and it is still flowing into the world through financial products.

In terms of the scale of subprime loans at this time, the stock of subprime mortgages in the United States is about 1.5 trillion US dollars, and this is still the total amount, not a direct loss. Even if 30 is rotten, it will only be more than 400 billion.哽噺蹓帽奇奇 Novel 蛧|w~w~

This amount is very small relative to the US GDP of 13 trillion and the debt market size of 25 trillion.

In the U.S. federal deposit insurance system, the scale of this loss only accounts for 3.6% of the total assets of financial institutions, which is quite limited and is completely within the ability of the U.S. federal deposit insurance to respond.

But as soon as there was a problem in the housing market, both bubbles began to proliferate under a chain reaction.

Because those who had previously borrowed to speculate in real estate, had no funds to repay the loan, which brought a lot of bad debts to many banks.

The crisis is still lurking.

It is in this situation that Marvel will change hands.

After Cannes, Lehmann returned to Los Angeles.

After half a month of winning and differentiating, it was finally possible to close the net.

The main reason is that Avi Allard and others have been forced to do nothing.

Banks collect debts, small and medium shareholders just want to cash out, management and controlling parties cannot coordinate, each has their own abacus, and they are unwilling to take risks.

What's the use of perseverance under such pressure?

All are smart people.

Soon, some major shareholders also began to negotiate with Brian Lord, and Marvel was completely in chaos.

......

June 6, a very auspicious day.

Earlier, at about 6 o'clock, Lyman got up to take a shower, then reunited with Brian and killed Marvel.

in the conference room.

Avi Allard still didn't understand that Lehman's determination was so strong that he did not even give any right to speak, and insisted on delisting and privatizing operations.

Having money is good.

He is the most aware of Marvel's assets, and this time Firefly has no possibility of starting without taking out 1.4 billion or 500 million in cash.

But if people really want to pay this money, they are optimistic about Marvel and feel valuable, then shareholders, banks, and even lower-level employees are very welcome.

How to look at it, after the firefly takes over, the financial resources are still guaranteed, and it will not play some games every day to tear down the east wall to make up the west wall, and if it is not possible, sell two sons out.

"They are already accounting for assets." Fastest update of Qiqi novel https://

Brian rarely showed a relaxed smile. He was even happier and more attentive than Lyman.

In these days, he did everything he could to win Marvel, wasn't it just for the "red envelope" of at least 40 million after the success.

Lyman stood on one side, along with Joseph, Ryan, and the company's legal staff.

Compared with the happiness of these two people, Joseph's heart did not have much excitement, only great pressure.

Although Lehman had already discussed with him, and he had persuaded him, it would be a disaster if the character copyright was of little value at that time if he had to carry such a "heavy" burden as Marvel.

You must know that Marvel has more employees than Firefly, and its assets are unhealthy. Many businesses rely on bank loans to operate reluctantly, and the administrative and financial expenses are very large. This is also the main reason why Marvel is not taken over. Many employees have joined If there is a union, rashly layoffs, if the number is too large, the union will let you know what is the power of the working class.

But it's still done.

This made Joseph a little uneasy. Looking back at the excited Lyman, Joseph still didn't understand the boss's confidence.

Time passed by minute by minute.

Marvel's asset liquidation work took a lot of effort even if it entrusted a team from PricewaterhouseCoopers.

The employees, including the artists in the comics department, were a little nervous.

After all, there are bound to be some changes when the company changes hands.

Lehman looked at the data and thought to himself: This is really bad. I have been working for others, and the profit is too small.

He also knew that the Spider-Man series brought at least more than 3 billion profits to Sony, but Marvel had only 50 to 60 million US dollars in the account, and the Blade Warrior series was less than Spider-Man, more than 20 million.

After this matter is done.

Lehmann called in a group of middle-level employees and other managers who were not directly related to Allard.

"I know, there must be some doubts in your mind. But that's okay, I'll just say a few points.

First, after the delisting, we will further improve the management structure of Marvel Entertainment, and establish the Marvel Studios label, instead of being an empty shell like now, without the ability to make movies on our own. This will be related to the overall development of Marvel, and you have to understand.

Second, debt and salary issues. Let me make a promise to you. As long as we have the intention to work hard for Marvel, we will never fire any employee at will. We will even give an appropriate salary increase of 5% to 10%. Do everything possible to get Marvel out of a debt crisis that has lasted for more than a decade.

Third, there will be no major changes in the management for the time being. I only look at one point, the ability. Those who are capable come first. "

This remark finally calmed down the anxious hearts a lot.

Marvel's veterans and managers certainly don't want to be fired, as long as they want to.

Furthermore, these people actually have very low salaries, at least much lower than the dc departments that Lehman has worked with. If they hadn't really regarded Marvel as their own business, they wouldn't have taken the initiative to reduce their salaries several times, especially a few years. Before, in order to get through the bankruptcy and liquidation together, we took the initiative to reduce the financial pressure of the company and welcomed Allard as the leader.

Of course, some of them also receive dividends. The better the company, the better they are.

And to ensure Marvel's financial health, of course they would.

This is also Lyman's silver bullet offensive.

If you can use benefits to balance management and gain the goodwill of employees, you will not be afraid of high-level vacancies and cause confusion.

The comic editor-in-chief Joe Quesada couldn't help but ask, "So, Mr. Rust, are you planning to shoot a Marvel hero movie?" co-founded po with others