Chapter 632 Really bankrupt!

Lin Mancang was full of confidence and made a bold statement, even if their Huafu Group went bankrupt, Enron could not go bankrupt.

It is also normal to set this up. After all, in 2000, Enron was still ranked 16th in the Fortune Global 500.

Oil prices have risen sharply this year, and many energy companies have entered the top positions of the list.

For example, Mobil successfully knocked General Motors off the No. 1 throne, Shell of the Netherlands and BP of the United Kingdom ranked sixth and seventh respectively, and Total of France ranked thirteenth, also above Enron and ranked in the world. Five of the top 20 companies are energy companies.

The world's top 20 companies, how can it be said that bankruptcy is bankruptcy!

Director Wang, who presided over the meeting, pondered for a moment, looked up at Li Weidong, and asked, Chairman Li, what do you think?

After all, Li Weidong was the first person to raise questions about Enron, so Director Wang planned to hear Li Weidong's opinion.

Li Weidong replied immediately: I still insist on my previous point of view. I think Enron will go bankrupt soon. If we use Enron's technology, it will inevitably affect the construction progress of the entire West-East Gas Pipeline!

Lin Mancang raised his eyebrows and glared angrily at Li Weidong. He said in his heart that I just said that Enron Company could not go bankrupt, so you said that Enron Company would go bankrupt soon, and you deliberately acted against me?

So Lin Mancang said angrily: Chairman Li, how fast are you talking? Is it a day? A week? A month? ?

I think Enron will file for bankruptcy within a month! Li Weidong said decisively.

One month? What is the basis for the judgment? It's not just a guess, right? Lin Mancang continued to say yin and yang strangely.

Of course I'm not guessing, I made a judgment based on economic knowledge. Li Weidong responded calmly.

Knowledge of economics? Lin Mancang snorted coldly, and continued, There are so many economists here, pick one at random. Isn't your knowledge of economics richer than that of Chairman Li?

Li Weidong smiled and nodded: Indeed, in terms of professional level in economics, I am indeed far less knowledgeable than the teachers. But if it is about economic forecasts, my forecasts are quite accurate, at least so far. I've never missed it. President Lin, if you don't believe me, you can ask a few teachers.

Li Weidong successfully predicted the Japanese financial bubble and the Asian financial crisis in those years. Everyone in the audience knows this. To say the accuracy of the prediction,

Li Weidong is indeed doing his part.

The economists present did not speak, which is equivalent to tacitly acquiescing to Li Weidong's statement.

Lin Mancang also knew that Li Weidong's divine prediction was very accurate. In this regard, he really couldn't refute Li Weidong.

So Lin Mancang said, Chairman Li, even if your prediction is accurate, the prediction is for something that didn't happen, and since it didn't happen, the prediction isn't necessarily correct.

Today you predict that Enron will go bankrupt within a month, time will test the veracity of your prediction. But we can't do nothing and wait a month, right?

We may be able to wait a month, but next time, if you say Enron goes bankrupt in one year, or Enron goes bankrupt in two years, we can't wait for one or two years. Wouldn't it affect the progress of the project even more!

So I think, we can't wait any longer, the construction of the project cannot be stopped, the previous contract should be signed as soon as possible, and Huafu Gas can also start the construction of the natural gas pipeline immediately.

Lin Mancang made it clear that he intends to sign the contract first. As long as the contract is signed, Huafu Gas will start construction, and the raw rice will be cooked.

Until then, unless Enron really goes bankrupt, other external forces are unlikely to affect the construction of the natural gas pipeline.

It makes sense. We can't affect the construction progress of the project because of something that hasn't happened yet. A nearby expert immediately echoed.

Director Wang nodded slightly. Although Li Weidong swore to predict that the Enron Company would go bankrupt, this is something that has not happened yet. We can't stop the pipeline project because of something that has not happened yet!

Li Weidong also felt that Director Wang's attitude had loosened, and he could only sigh silently in his heart.

Although Li Weidong has a record of God's predictions, predictions are predictions after all, and can only be used as a reference. For a strategic project such as the West-to-East Gas Pipeline, it is impossible to make decisions based on a prediction.

Thinking of this, Li Weidong said: Director Wang, in fact, I do not object to the construction of the project by Huafu Gas. What I am worried about is that once the Enron Company collapses, it will inevitably affect the construction process. will have an impact.

There is indeed a problem with Enron at present. Between this point, I think some preventive measures should be taken, or an insurance should be added to the project to avoid unnecessary losses.

Chairman Li, have you thought of those preventive measures? Director Wang immediately asked.

I have two main suggestions. First, I think it should be stated in the contract that if Enron goes bankrupt and cannot continue to provide technical support to Huafu Gas, then Huafu Gas should be launched unconditionally, and this project should be It will be taken over by other companies that are capable of construction immediately.”

Li Weidong paused, then continued; We all know that Huafu Gas was engaged in the distribution business of natural gas before. In the construction of natural gas transportation pipelines, there is a lack of technology and experience. Without the technical support provided by Enron, Huafu Gas Gas is difficult to complete the construction independently.

Once Enron goes bankrupt and Huafu Gas loses technical support, the whole project will not be able to continue. At that time, Huafu Gas will continue to be in charge of the project, which will only waste time. It is better to leave it to other capable companies to do it, at least it can guarantee the project The quality and quantity can be continued.

Director Wang immediately looked at Lin Mancang and asked, Mr. Lin, what do you think of Chairman Li's suggestion?

Lin Mancang didn't bargain, he nodded: We, Huafu Gas, are not the kind of bosses who don't poop in the pit. If Enron really can't provide technology, then we will take the initiative to abdicate. I promise Lin Mancang. , it will never affect the construction and construction progress of the project because of the problem of Huafu Gas.”

Director Wang nodded with satisfaction, looked at Li Weidong again, and asked, Chairman Li, what is your second thought?

I hope to directly introduce alternative companies in the preliminary survey work of the project. In this way, once there is a problem with Huafu Gas, the alternative companies do not need to re-measure and can directly carry out construction planning and construction, which can save money. A lot of time, at least the engineering delays that can be reduced. Li Weidong said.

The candidate companies mentioned by Li Weidong are Huanghai Petrochemical. After all, only these two companies have entered the final bidding stage.

This time, however, Lin Mancang shook his head: No, we, Huafu Gas, disagree! This was originally a project of our Huafu Gas, so why should other companies intervene!

Mr. Lin, if you just measure, it will not affect the normal construction of Huafu Gas. Li Weidong paused, then continued; And I think Enron will file for bankruptcy within a month, and the survey work of the project should have just begun. It is completed and has not yet entered the formal construction. If the backup enterprise is replaced at this time, it will not cause any loss in the construction period.

Hehe, Chairman Li, listening to you, Enron is definitely going to go bankrupt? Lin Mancang asked with a look of disdain.

My judgment has always been very accurate. Li Weidong said, looking at Director Wang, and then said: Director Wang, my suggestion is to add another insurance to the project. For the entire West-East Gas Pipeline Project, there is a certain Profitable and harmless.

Indeed, it's always good to have an extra guarantee. Director Wang looked at Lin Mancang and said, Mr. Lin, only the pre-construction measurements will not affect the official construction of Huafu Gas, right?

Director Wang said so, and Lin Mancang had no choice but to nod and agree.

...

Early in the morning, in the Huanghai Petrochemical conference room, several high-level executives gathered again for a meeting.

Huafu Gas has completed the signing of the contract. It seems that this project is over for us!

I thought that Li Weidong was so powerful. After so many days, he finally got us a spare tire!

Don't we also have the opportunity to go to the field to measure now? A good start is half the success!

The construction scale of this project is quite large. If we go to measure, it will cost a lot of money, right? When we spend money to complete the measurement, and finally Huafu Gas will be constructed, will the bamboo basket be empty by then? A waste of money!

In the conference room, everyone was full of complaints and pointed the finger at Li Weidong.

Song Jinlong looked at everyone with a livid face, and then said: Yesterday, I talked to Li Weidong on the phone, and he told us to take it easy. According to his judgment, Enron will file for bankruptcy within a month! Fu Gas cannot obtain technical support, and the project will naturally fall into our hands.”

In a month, Enron will go bankrupt? Isn't that a fantasy! So many companies were in recession in the past few years, but they all survived for another two or three years before they were on the verge of bankruptcy!

It was Lao Du who was speaking, and he continued: There is a saying that a thin dead camel is bigger than a horse.

Those companies in our country can hold on for another two or three years. Even if Enron is really dying, it is not too much to hold on for five or six years! To say that Enron will go bankrupt within a month, I don't believe it!

At that time, our city's No. 3 National Cotton Factory lasted for five years after the production was stopped. Just relying on the sale of the land was enough to pay the living expenses to the laid-off workers.

Yeah, didn't the furniture factory last for six years. I heard that when it finally went bankrupt, the assets were collected and sold for tens of millions!

Enron must have tens of billions of dollars in assets, right? If all of the wages are sold, it will be enough to retire. And the Enron company is only having problems now, and it's not really going out of business!

I see, this Li Weidong is still unreliable, saying that Enron will close down within a month is purely to perfunctory us! Maybe he thinks that after a month, as long as he doesn't mention this matter, we will Forget it!

At this moment, the secretary knocked on the door and walked in, coming to Song Jinlong's side.

What's the matter? Song Jinlong asked.

Dong Song, didn't you tell me to pay attention to the situation of Enron in the United States and notify you immediately if there is any new news?

The secretary paused for a while, and then said, I just got the news that Enron Corporation admitted that it had made false accounts, saying that it had falsely reported a profit of 600 million US dollars! Some American companies have already expressed their willingness to acquire Enron, and Enron Corporation may not be able to do so this time. It's gone!

...

Since 1997, about 600 million US dollars of profits have been falsely reported? Looking at the news, Li Weidong pouted with disdain, and then said to himself:

Enron reported a loss of US$618 million in the last quarterly report, and over the past four years, it has only overstated a profit of US$600 million, who would believe it!

600 million dollars in four years, an average of 150 million dollars per year, this figure is like a joke.

Last year, the profit given by Enron's financial report was still 100.8 billion US dollars. If it can make 100.8 billion yuan a year, how could it falsely report 150 million US dollars!

This is like a person who earns tens of thousands of dollars a month. When someone asks him what his income is, he deliberately says 15 yuan more. Does it make sense?

Many large companies in the United States donate more than 150 million US dollars to asset institutions every year. If you really have the skill to make a fake account of 150 million US dollars, it is better to donate money to avoid taxes, you can legally save this money, and you can also earn a good reputation.

It made it clear that Enron was under pressure from all sides and could only admit that it had made false accounts, but it only admitted a drop in the bucket.

But even if the whole of Wall Street knew that the 600 million US dollars in fake accounts that Enron said was only a fraction, there was nothing they could do about it. Because Enron's financial report is really seamless.

Enron spends tens of millions of dollars every year to ask Anxinda to make fake accounts, how can it be so easy to find out the flaws!

So how many fake accounts Enron has made over the years, unless Enron admits a number, it is difficult to come up with a real number.

That is to say, in terms of making false accounts, no matter how much Enron said, it was as much as others, even if they wanted to check.

It is precisely because this part of the information is too opaque that the public and investors lose their trust in Enron, so when the Enron incident broke out, the stock of Enron fell sharply.

At its peak, Enron's stock was as high as $90 a share, while Microsoft's stock price was only a dozen dollars at that time, and Apple's stock price was even worse, with a stock price of less than $1.

After the Enron incident broke out, Enron's stock fell to $0.26, a full 350 times!

In the stock market, it is not uncommon to shrink 350 times. Many so-called demon stocks have shrunk directly to delisting.

But given the size of Enron, that's a different story.

For a small company with a market value of more than one billion, even if the stock shrinks to the point of delisting, the impact will not be great.

And Enron is the 16th-ranked company in the Fortune 500. With such a scale, the stock has shrunk by 350 times, and the result can be imagined.

What's more, Enron also issued a lot of corporate bonds.

After the Enron incident broke out, Standard \u0026 Poor's continued to downgrade Enron's bonds within a month, eventually downgrading it to the junk bond rating.

Countless investors went bankrupt in an instant, and almost every famous investment fund stepped on the thunder.

...

Early in the morning, Lin Mancang was sitting at the dining table, enjoying breakfast, and the morning news was playing on the TV in the living room.

Watch the International Newsletter below...

Russian astronauts troubleshoot the space station and make the spacecraft dock successfully...

The advent of cloned human embryos has sparked widespread controversy from all walks of life...

A Japanese satellite fell on the surface of the Antarctic circle due to a misprediction...

Enron Corporation of the United States officially filed for bankruptcy, the largest bankruptcy in U.S. history...

Hearing the news, Lin Mancang's hand holding the chopsticks shook suddenly, and the poached egg immediately fell into the soy milk, splashing his face.

However, Lin Mancang didn't bother to wipe his face, and quickly got up and ran to the TV.

At this time, other news had begun to be broadcast on the TV. After all, it was only an international newsletter, and there was only a short sentence about the introduction of Enron's bankruptcy case.

Fake news! How could Enron go bankrupt! Lin Mancang subconsciously looked at the logo on the upper left corner of the TV.

CCTV, then it can never be fake news.

Enron is really going bankrupt? Lin Mancang suddenly remembered Li Weidong's prediction, and then scolded fiercely, Li Weidong, this crow's mouth!

...

In the conference room of Huafu Gas, everyone looked solemn.

Mr. Lin, I have contacted Enron, but the other party has not answered the phone or sent an e-mail, and has not received a reply yet. The subordinate said.

If you don't answer the phone, don't answer your email, it seems that Enron is going to go bankrupt! Lin Mancang said anxiously.

Mr. Lin, don't worry. Don't forget that there is a time difference between China and the United States. It's morning here, and it's midnight in the United States. Most of the people in the middle of the night have rested. It's normal not to answer the phone. Someone said. comforted.

That's right, it's night in the United States! Lin Mancang calmed down and continued; But we still need to get the exact information on the United States as soon as possible. If you have friends in the United States, try to get in touch with them and ask them quickly. Find out what happened to Enron Corporation!

Another person next to him said, Mr. Lin, I don't think we need to worry too much. Even if Enron is going to go bankrupt, other companies will come to buy it.

After all, what Enron is doing is energy trading. In recent years, the price of international energy has risen sharply, and energy is very profitable. Enron will definitely have a lot of high-quality assets that are worthy of acquisition.

And no matter who buys Enron, they will definitely want to enter the Chinese market, and then they will have to cooperate with Huafu Gas, so our project will definitely continue!

What's more, let's not forget, there is also the US government! Enron is the second largest energy company in the United States, and its status in the United States is equivalent to that of Sinopec in our country. How could the US government allow Enron to go bankrupt!

I thought of the critical moment, the US government will definitely come to rescue Enron. So we don't have to worry at all, as long as we wait for the US government to take action, the problem will be solved naturally!

It makes sense. We considered business factors before, but we didn't think that the US government, a company as big as Enron, would go bankrupt, the consequences would be disastrous, and the government could not let it go!

Lin Mancang Great Wall breathed a sigh of relief, and then said, The U.S. government will definitely take action to save An Ran!