When Dong Qiangqiang got up the next day, Li Lei was still sleeping soundly in bed. There was a slight smile hanging on the corner of his mouth, and a trace of drool lingered on his lips, and the sheet under the corner of his mouth already had a large stain of moisture, which was much darker than the sheet next to it.
Before breakfast, Dong Qiangqiang continued to read the financial newspaper unwaveringly. As long as he did not go out to work, morning reading was one of the habits he worked hard to stick to. Now he can effortlessly read almost six pages of financial columns, compared with a year ago. He also needs to turn to a dictionary to solve the unfamiliar words between the lines.
Insert an app: a perfect replica of the old version of the book-chasing artifact and a replaceable source app--.
The newspapers were full of long articles about Vivendi, and it was obvious that the Germans were also very concerned about this matter. Through different reports, Dong Qiangqiang learned that Vivendi’s former president has been reducing the share of public welfare business since he took office, while focusing on telecommunications, music and Internet businesses. He hopes that in the next few years, Vivendi can use the power of telecommunications and the Internet to expand Vivendi’s business. Film, television, music and other cultural publications sell well all over the world.
In fact, there is not much of a problem with this original intention. It is even said that compared to the Germans who are belatedly aware of the Internet as a tool, the French are quite prescient in judging the development and future of the Internet.
Perhaps because of the romantic sentiments in the French people's bones, the former president began to use thunderous means to decisively promote his business reform soon after taking office. As we all know, the way to quickly increase the asset size of a listed company in the short term is to take the path of M&A development. By continuously merging upstream and downstream small and medium-sized enterprises, we will continue to grow and enrich our business lines, and expand the breadth and scope of our own business both horizontally and vertically. Depth, to put it more fashionably, means digging deeper into the moat and improving the company's core competitiveness.
The essence of M&A development is small steps followed by steady improvement. Rushing for success will usually lead to the opposite direction. To put it bluntly, it's easy to pull the ball if you take too long a step.
Under the over-expansion caused by management's eagerness for success, Vivendi's cash flow is in danger. When its own cash cannot keep up with the pace of expansion, external financing becomes inevitable.
All financing in the world has capital costs. If the financing cost is lower than the income, the financing is profitable, and vice versa.
While the company's strategic direction was good, the decision was made before the first wave of the dot-com bubble.
When the bubbles of American Internet companies burst one after another and drifted thousands of miles to the French financial market along with the warm ocean currents, Vivendi had invested a huge amount of money in the Internet business, but these sunk costs did not translate into corresponding income and Profit, instead, became the straw that broke the camel's back.
Vivendi's peak moment of 150 euros/share at the beginning of 2000 was seen two years later as the peak of the development of the first wave of Internet technology companies. Since then, it has prospered and declined, and its stock price has also plummeted. The stock price in April reached over 40 euros when it was the highest, but now it is less than 19 euros.
I saw him building a tall building, watching him entertain guests, and seeing his building collapse.
Time, fate, luck.
Vivendi, which was heavily in debt, had to consider cutting off its arms to survive, so it made the move to sell the TV company to the Murdoch Group.
Considering Vivendi's status in the world, the French financial community is also worried, especially the major banks that are closely related to its business. This cannot be summed up in one sentence. In order to prevent investors from running out of fear of the bank, French banking regulators are also watching the further development of the situation.
In order to calm the dissatisfaction and pessimism of the market, Vivendi immediately made a coaching change.
Generally speaking, the subtext of this kind of temporary coaching change is to tell investors: The last one was not good enough, this time I will use someone with a higher level. Don't panic, everyone, have confidence.
But before investors had time to build confidence, a French tabloid revealed that the former president received a sky-high severance package when he resigned.
Although it is an unconfirmed rumor, the company at this time can no longer bear any disturbance. Investors have chosen to vote with their feet. The plot is still that the circuit breaker will be broken first and then the limit will be lowered.
Before going out, he saw that Li Lei was still sleeping soundly. Dong Qiangqiang left a note for him and then went out to take the exam.
When he came in again at night, the house was empty and Li Lei was nowhere to be found.
The note Dong Qiangqiang left in the morning contained four crooked words: Thank you for the hospitality. I will go do some work. I will return to Malaysia after the work. Please contact me when you have time.
He was still holding the note. When the door of the room rang, Lao Bai walked straight in: "Have you thought about it? About the domestic company."
"Just follow what you said last time, I have no objection." Dong Qiangqiang reviewed for several hours in the library in the afternoon. He was tired and exhausted due to heavy mental exertion, and he was a little lazy.
"Are you tired?" Lao Bai patted his back with concern, "It's not easy, but I heard that there is a four- or five-hour exam in economics. If you really study, you will probably be even more tired."
Dong Qiangqiang smiled bitterly and nodded: "I just realized now that preparing for the exam is much more tiring than taking the exam, and it's also a week before the joint entrance exam, hey..."
"Xu Tongying's group will be here soon after you finish the exam. Then you can lead the group and relax."
"Can leading a group be considered relaxing?" Dong Qiangqiang couldn't laugh or cry.
"Then you rest for a while first. Lele and Yuan Jin will come soon. I'm going to cook now. I'll call you, but you have to wait a little longer."
Dong Qiangqiang knew that Lao Bai was a good cook and it was rare for him to cook. He smiled and said, "As long as I can eat for free, I can wait as long as I want."
Lao Bai stepped out of the room and took it back, turned around and asked, "Where is your college monitor? Do you need me to leave a share for him?"
"He seems to have returned to Magdeburg." Dong Qiangqiang tapped the note on the table with his fingers.
Lao Bai waved his hand and the door closed.
Dong Qiangqiang was lying on the bed, staring at the ceiling, and it took him a long time before he heard his cell phone ringing.
"Hello?" He lazily raised the phone to his ear.
On the other end of the phone was Duanmu, who speaks every day: "Have you read the news? It is said that the former president of Vivendi received a severance package of 20 million euros. Today is another day of hitting the limit. The company announced that it may reorganize some departments and subsidiaries."
"Well, there are reports that its debt may be more than expected, and many investors are worried that it will go bankrupt like Enron and be sold to other listed companies, but some analysts believe that the French government may intervene to prevent it from It is bankrupt. After all, its influence on the market cannot be underestimated. The French government must also hope to minimize the big issue so as not to affect the entire financial market. In short, there are different opinions now, and everything is said."
"Although it fell today, there are still some shocks. It is not the kind of drop that scares people to death when a vertical line falls to the bottom. Now it seems that the new president has taken office, it still has some effect. In addition, not only the French market fell today, but the German market did not do much better either. Go. The stock markets of these European countries are booming and losing, and there is no such thing as an independent market."
"German economists believe that... this is the most obvious feature of global economic integration, and they also say that the two will become more and more convergent in the future." Dong Qiangqiang felt that his eyelids were getting heavier and heavier, but his tone became softer.
"I looked up the information you mentioned last time. The trend of the German stock market in the past six months is indeed very similar to that of Nasdaq, and Munich Re and Swiss Re, two brothers in trouble, are really doing things by heart. Except for the consequences caused by 911. Medical expenses for the injured continue to increase. Germany and Switzerland are both undergoing varying degrees of medical reform. Swiss Re is relatively better off, but Munich Re is in serious trouble. According to its annual budget report, it has a large financial gap this year. At present, It has not decided to increase the additional premiums for all insured persons, but if it wants to fill the financial gap, it may still go to the step of raising premiums. Although this can increase income, it will inevitably lead to many insured persons switching to I went back and forth to those private insurance companies with low fees. Although the unit price was higher, there were fewer paying users. I am afraid there will still be problems. Wall Street is worried that this wave of decline will be longer than previously expected. 911 and German and Swiss Medical It may take several years to fully digest the aftereffects of the reform.”
"Looking back now, last autumn was definitely a troubled year. There were a large number of Internet companies whose bubbles burst, and then there were the 911 terrorist attacks. Under the attack from the front and back, both emerging and traditional industries were hit hard, and there will be no recovery for a while. signs."
"Although it seems unethical to say this, it is a once-in-a-lifetime opportunity for investors like us to make money. You know that the opportunities to make money are always those stocks that dive from high places, as long as they are not delisted in the end, The more alarming the decline in stocks, the greater the rebound in the future, just like a spring being pressed down by your fingers. Once you release your fingers, the spring will soar into the sky."
"I plan to listen to you about buying some put options on the German DAX30 index and the French CAC40 index. How low do you think they can fall? Do you have any expectations?"
"Also, Southern Health Care's decline is a bit weak. How do you think it will develop in the future?"
"Hello? Dong Qiangqiang, where is he? Speak!" Sensing that Dong Qiangqiang had been silent for a long time, Duanmu couldn't help but roared loudly.
Dong Qiangqiang was awakened by the shouting and asked incoherently: "What...did you just say?"
"Didn't you listen to me?"
"I accidentally fell asleep..." Dong Qiangqiang rubbed his eyes. It was still bright outside the window. He could smell the aroma of cooking in the kitchen and heard intermittent voices coming from the kitchen.
"Forget it, let's wait until you wake up a bit before we talk." Duanmu muttered, "I asked you to contact Hans, did you contact him later?"
"Yes, I contacted you, but it's a bit tricky."
"What should I say?" Duanmu's tone was a little unhappy, "I said money is not an issue."
"It's not about money. Hans said he couldn't find the hacker either."
"disappeared?"
"Well, Hans suspects that he either disappeared to hide from the police, or that he has been caught."
"I'll go..." Duanmu cursed in a low voice, "What a memorization. What about Hans? Can he write programs?"
"He probably can't write it."
"What should we do?" Duanmu was also in trouble, "There are a lot of things to do now, and only by having good tools can we improve efficiency."
"I suggest walking on two legs and letting Hans continue to contact hackers, while we also start recruiting programmers. Since you will need a full-time programmer sooner or later, it is better to start looking for it now."
"How to find it?"
“You can also advertise in newspapers or forums, or you can recommend someone through acquaintances. In general, don’t avoid enemies when doing external things, and don’t avoid enemies when doing internal things.”
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