Vol 6 Chapter 620: Eye-opener
In the commercial car on Fifth Avenue, the girl next to Huang Yujin looked out the window for a while, and finally couldn’t help but said, “I thought these stores would offer discounts at this time,”
"Yeah, I thought so too," the girl immediately echoed.
The male compatriots immediately laughed happily.
As soon as I heard their laughter, I knew that I must have suffered from shopping and paying the bills, so when I heard the ladies complain like this, I was really happy.
Ladies are really a little depressed. At this time, shouldn’t the U.S. market be in depression? Why are there so many people patronizing these luxury stores?
A somewhat smug Xu Bin also interjected, "I think it should be because there are too many girls in the world who think like you, so these stores have not thought about discounts now,"
The men added their enthusiasm one after another. One said, "New York is an international shopping city,"
Another said, "It's still a world-class shopping city..."
Huang Yujin added, "It means that the prodigal ladies all over the world come to New York to shop, so these stores can be so tough, right?"
She is a southerner, she speaks such northern flavors in very common Mandarin. Xiaoguo is really good.
There was laughter in the car immediately.
The girls have never thought about a problem, not to mention tourists from all over the world, not to mention the United States, a country that has been the number one in the world economically for many years. It is Russia, which everyone thinks that the economy has always been poor. The bottom line is actually still higher than us.
This is even more so in the United States, leading the developed countries for so many years, the richness of their folk heritage is far beyond our imagination.
What's more, New York was originally a city where rich people gathered. Therefore, no matter how the situation changes, customers in luxury stores on Fifth Avenue will always be as endless as tourists in Central Park.
The subprime mortgage crisis, so far, has the greatest impact on the families that belonged to the bottom, and the hapless among the few rich people like Lehman's Dick Fuld.
So far, their huge middle-class family, although they have had an impact, are far from hurting their muscles and bones.
However, if the situation deteriorates further, such as the rescue plan is blocked again, then the situation will be very different. At least, the ranks of the unfortunate like Fuld will expand again.
This is also the reason why Su Shiming directly participated in the first meeting.
This is a small-scale meeting.
Blackstone's side, headed by him, there are only four in total.
Representing Feng Yiping's side, except for Cummins and Xu Bin, it is Lauder and his powerful deputy Gary Cohen.
As an American business person who knows us well, when he sees a Chinese face like Xu Bin in the other team, Su Shiming is extremely enthusiastic. He knows that some of us are very particular about this.
But he may have forgotten that Xu Bin had been studying and working in the United States before returning to China. He didn't care about it. Looking at Su Shiming's smiling face, all he thought of was the more than 2,000 hotels in Hilton in the hands of Blackstone.
Lauder was only going to attend this first meeting, so for a while, he was very nutritious, smiling on the surface, and after the MMP greeting in his heart, he straightforwardly threw an evaluation report to Su Shiming and the others, "Steven, this is the most professional we hired. Team, analysis of Hilton’s situation,"
Su Shiming only looked at the appraisal agencies, mainly PricewaterhouseCoopers and KPMG. He did not look at the composition of the appraisal team. He knew very well that on such issues, it is impossible for counterparts on Wall Street to report Any question, they say it is the most professional, it must be the most professional, and it will never be a random pheasant team.
But at the same time, he also knows that the most professional team in this way draws a conclusion on this issue, although it has a higher fairness, but it is not necessarily more professional than the pheasant team.
As a leader in the financial industry, he is very aware of the virtues of these institutions, including the Big Four accounting firms.
Do you receive money and do business, isn’t it going to the side that pays?
He only flipped through the previous pages and looked directly at the final conclusion. At this time, his deputy and senior executives could not help but say, "It's incredible!" "Just kidding," "It's incredible. !"
Su Shiming felt a sudden, he looked at the conclusion again, "...By this time, the loss of this investment has exceeded 83%..."
He looked at Lauder coldly.
Lauder still has a smile on his face, but that smile is not really pleasing: his mouth is a little crooked, and his eyes are tilted to one side.
Below the polite smile, he was disdainful, or that he was originally a triumphant smile, a sarcasm.
Su Shiming tossed the report gently, and only said one word, "bullshit,"
Except for Xu Bin, no one else seemed surprised at all.
Wall Street celebrities in suits and leather shoes, only in front of the camera, will be gentle and gentle, in work and in private, they have always been not stingy with all kinds of swearing.
In such a situation, Su Shiming only said such words, which is actually quite exquisite.
The report concluded that the investment lost more than 83%, that is, only 17% remained.
They bought Hilton last year and spent US$26 billion. According to the conclusion of this report, Hilton is now worth less than US$4.5 billion.
Of the 26 billion US dollars, in addition to the 20.5 billion US dollars in loans, they directly invested 5.5 billion.
In general, the 20.5 billion loan was lost, not to mention, their 5.5 billion has now shrunk to 4.5 billion.
Hilton, which was valued at 26 billion in July last year, is not worth 4.5 billion now. Su Shiming has not directly pointed at Lauder and yelled at them, which is considered restrained.
"Lourder, Blackstone is so sincere in discussing debt issues with you, so you treat us with such a piece of garbage?"
"Hehe," Lauder smiled and glanced at the people on his side, then glanced at the people on the other side, and shook his head, "Stephen, that's because you used our loan to invest in such a Trash,"
Xu Bin is a little uncomfortable.
Although he knows that this is a bargaining exchange, but the "garbage" like Hilton, I really want to pick it up.
"Garbage?" Su Shiming also smiled, "If I remember correctly, when Blackstone launched this project last year, including Goldman Sachs, did they think their share was not large enough?"
This is also true.
When Blackstone introduced this business to the banking group last year, the banks were indeed rushing to borrow money, because not only could they get not low interest, but they could also use asset securitization in the market to replace these loans. Out of liquidity.
But who knows, the market will take a turn for the worse soon? Not to mention the replacement of liquidity, let alone not the low interest rate, if it hadn't been for Feng Yiping's suggestion, Blackstone estimated that he would have discussed debt restructuring with them long ago, that is, the issue of reducing or exempting part of the principal.
This is the so-called now and then.
"Steven," Lauder changed to a more comfortable sitting position. "The reason why we were so active last year was mainly because of you. We believe in you, an old friend, so we went all out to support you."
Su Shiming didn't bother to refute his words, believe me? Go all out to support me?
To put it plainly, isn’t it because it is profitable?
"But Stephen~www.wuxiaspot.com~my old friend, how do you treat our trust? Do you know how important this 20 billion loan is to all of us at this time?"
"But how does Blackstone do it? Have you seriously considered repaying our loan at once? Even if it's only part of it?"
Gary Cohn, his deputy, who is tall and has no hair on his head, immediately applauded, "We have never heard about this. I just heard that they are going to let us reduce debt."
"It is completely understandable," Cummins nodded with a smile, "In many cases, it is not the creditor but the debtor who is in a dominant position."
"Those debtors with strong power and influence, especially so,"
Lauder always felt that when Cummins said this, he looked at himself without meaning.
But please, big brother, Goldman Sachs did not delay the payment of the final payment of your CDS contract before, but we did not reach an agreement on the relevant issues, did they?
Xu Bin looked at Su Shiming on the opposite side, and faced waves of sarcasm, his face was getting greener, and he felt that this time was really eye-opening.
Wall Street bigwigs, talking about such big business, are they so vigorous?
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