Rebirth of the Industrial Tycoon

Lin Mancang confidently made a bold statement that even if their Huafu Group went bankrupt, Enron would not go bankrupt.

It is normal to make such a statement. After all, in 2000, Enron was ranked 16th in the Fortune 500.

This year, oil prices rose sharply, and many energy companies entered the top positions on the list.

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

How can the top 20 companies in the world go bankrupt just like that!

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 point out that there was a problem with Enron, so Director Wang planned to listen to Li Weidong's opinion.

Li Weidong immediately answered: "I still stick to 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 at Li Weidong angrily. He thought, I just said that Enron would not go bankrupt, and you said that Enron would go bankrupt soon. Are you deliberately going against me? So Lin Mancang said sarcastically: "Chairman Li, how fast do you say soon? Is it a day? A week? A month? Or a year? If it is a day, does it mean that Enron will go bankrupt tomorrow?" "I think Enron will file for bankruptcy within a month!" Li Weidong said firmly. "One month? What is the basis for judgment? It's not a blind guess, right?" Lin Mancang continued to say sarcastically. "Of course not a blind guess, I made the judgment based on economic knowledge." Li Weidong responded calmly. "Economic knowledge?" Lin Mancang snorted coldly, and then said: "There are so many economists here. Pick one at random, and he will have more knowledge in economics than you, Chairman Li?" Li Weidong smiled and nodded: "Indeed, in terms of professional level in economics, I am indeed far less knowledgeable than you teachers. But when it comes to economic predictions, my predictions are still quite accurate, at least I have never failed so far. Mr. Lin, if you don't believe it, you can ask a few teachers." Li Weidong successfully predicted the Japanese financial bubble and the Asian financial crisis. Everyone present knew this. When it comes to the accuracy of predictions, Li Weidong is indeed the best. The economists present were speechless, which was equivalent to tacitly agreeing with Li Weidong's statement. Lin Mancang also knew that Li Weidong's predictions were very accurate. In this regard, he really couldn't refute Li Weidong. So Lin Mancang said, "Chairman Li, even if your prediction is very accurate, it is for something that has not happened. Since it has not happened, the prediction is not necessarily correct. Today you predict that Enron will go bankrupt within a month, and time will verify the authenticity of your prediction. But we can't do nothing and wait for a month, right? We may be able to wait for a month, but if the next time, you say Enron will go bankrupt in a year, or Enron will go bankrupt in two years, we can't wait for a year or two, and then it will affect the progress of the project! So I think we can't wait any longer, the construction of the project can't be stopped, the previous contract should be signed as soon as possible, and we Huafu Gas can start the construction of the natural gas pipeline immediately." Lin Mancang clearly planned to sign the contract first. As long as the contract was signed and Huafu Gas started construction, the rice would be cooked. By that time, unless Enron really went bankrupt, other external forces would be unlikely to affect the construction of the natural gas pipeline. "That makes sense. We can't affect the progress of the project because of something that hasn't happened yet." An expert next to him immediately echoed. Director Wang nodded slightly. Although Li Weidong predicted that Enron would go bankrupt, this was something that had not happened yet. We couldn't stop the pipeline project just because of something that had 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 had a record of making divine predictions, predictions were predictions after all, and could only be used as a reference. For a strategic project like the West-East Gas Transmission Project, it was impossible to make decisions based on a prediction.

Thinking of this, Li Weidong said, "Director Wang, I don't actually object to the project being constructed by Huafu Gas. What I'm worried about is that once Enron goes bankrupt, it will inevitably affect the progress of the construction and the entire West-East Gas Transmission Project.

At present, Enron has indeed had problems. In view of this, I think some preventive measures should be taken, or an additional insurance should be added to the project to avoid unnecessary losses."

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

"I have two main suggestions. First, I think it should be clearly stated in the contract. If Enron collapses and cannot continue to provide technical support to Huafu Gas, then Huafu Gas should launch it unconditionally. This project should Immediately let other companies capable of construction take over.”

Li Weidong paused and then said, "We all know that Huafu Gas was previously engaged in the distribution business of natural gas.

In the construction of natural gas transportation pipelines, there is a lack of technology and experience. Without the technical support provided by Enron, it would be difficult for Huafu Gas to complete the construction independently.

Once Enron collapses and Huafu Gas loses technical support, the entire project will not be able to continue. If Huafu Gas continues to be responsible for the project, it will only be a waste of time. It is better to leave it to other capable companies to at least guarantee the project. We can continue to do so while maintaining quality and quantity. "

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

Lin Mancang did not bargain, he nodded: "We at Huafu Gas are not the kind of owners who occupy the pit and do nothing. If Enron is really unable to provide technology, then we will take the initiative to step aside and make way for someone better. I, Lin Mancang, promise , The construction and construction progress of the project will definitely not be affected by the problems of Huafu Gas.”

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

"I hope that in the preliminary measurement work of the project, alternative companies can be directly introduced. In this way, once there is a problem with Huafu Gas, the alternative company does 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 project delays can be reduced," Li Weidong said.

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

However, this time, Lin Mancang shook his head: "No, we Huafu Gas do not agree! This is originally our Huafu Gas project, why should other companies interfere!"

"Mr. Lin, if it is just a measurement, it will not affect the normal construction of Huafu Gas." Li Weidong paused and then said; "And I think Enron will file for bankruptcy within a month. By then, the measurement work of the project should have just begun. It is completed and has not yet entered formal construction. If the backup company is replaced at this time, there will be no loss in construction period. "

"Haha, Chairman Li, what do you mean, Enron is definitely about to go bankrupt?" Lin Mancang asked with disdain.

"My judgment has always been very accurate." Li Weidong said, looking at Director Wang, and continued: "Director Wang, my suggestion is to add an additional layer of insurance to the project. For the entire West-East Gas Transmission Project, it is beneficial. It’s all beneficial and harmless.”

"Indeed, it is always good to have more protection." Director Wang looked at Lin Mancang and said: "Mr. Lin, it is just a pre-construction measurement and it 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, several senior executives gathered together for another meeting in the Huanghai Petrochemical conference room.

"Huafu Gas has completed the contract signing. It seems that we have no chance of this project!"

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

"Don't we now have the opportunity to conduct field measurements? A good start is half the battle!"

"The construction scale of this project is quite large. If we go to measure it, we will have to spend a lot of money, right? After we spend money to complete the measurement, it will be Huafu Gas Construction in the end. By then, it will be nothing. A lot of money was wasted!”

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 had a phone call with Li Weidong. He asked us to be calm. According to his judgment, Enron will file for bankruptcy within a month! By then Hua Hua If Fu Gas cannot obtain technical support, the project will naturally fall into our hands.”

"Within a month, Enron will go bankrupt? Isn't this a fantasy? So many companies were in recession in the past few years, but they managed to survive for another two or three years before they were on the verge of bankruptcy!"

It was Lao Du who spoke, and he continued: "There is a saying that a skinny camel is bigger than a horse. After all, Enron is one of the top twenty companies in the world. Isn't their scale bigger than our domestic companies?

Our domestic companies can survive for another two or three years. Even if Enron is really in trouble, five or six years is not too much! I don’t believe that Enron will collapse within a month! "

"Back then, our city's No. 3 National Cotton Factory lasted for five years after it stopped production. It was enough to pay living expenses to laid-off workers just by selling land."

Gu Qi: "Enron must have tens of billions of dollars in assets, right? If they were all sold to pay wages, it would be enough to last until retirement. Moreover, Enron only has problems now, and it is not really bankrupt!"

"I see, this Li Weidong is still unreliable. He said that Enron will collapse within a month, just to perfunctory us! Maybe he thinks that after a month, as long as he doesn't mention this matter, we will Forgot!"

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

"What's the matter?" Song Jinlong asked.

"Director Song, didn't you ask 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 moment, then continued: "I just received news that Enron admitted to making false accounts and falsely reported profits of US$600 million! Some American companies have expressed their willingness to acquire Enron. Enron may not be able to do so this time. "

"Since 1997, approximately US$600 million in 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 last quarter, and in the past four years, it only falsely reported a profit of US$600 million. Who would believe it!"

600 million US dollars in four years, an average of 150 million US dollars per year. This number is like a joke.

Last year, Enron's financial report stated that its profit was still US$100.8 billion. If it could earn US$100.8 billion a year, how could it falsely report US$150 million!

This is like a person who earns tens of thousands a month. When someone asks him how 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 to asset institutions every year. If you really have the time to make fake accounts worth $150 million, you might as well donate money to avoid taxes. You can save the money legally and earn a good reputation.

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

But even though the entire Wall Street knew that the $600 million in false accounts Enron said was just a fraction, there was nothing they could do about it. Because Enron's financial reports are really flawless.

Enron spent tens of millions of dollars every year on the false accounts prepared by Anxinda Firm. How could it be so easy to find flaws?

So how many false accounts did Enron make over the years? Unless Enron itself admits a figure, it is difficult to get a true figure.

In other words, when it comes to falsifying accounts, Enron said it was whatever it said, and no one else would be able to find out even if they wanted to.

It was precisely because this part of the information was so opaque that the public and investors lost trust in Enron. Therefore, when the Enron incident broke out, Enron's stock price fell sharply.

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

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

In the stock market, it is not uncommon for stocks to shrink by 350 times. Many so-called monster stocks have shrunk to the point of being delisted.

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

For a small company with a market value of more than one billion, even if its stock shrinks or is delisted, the impact will not be great.

Enron was ranked sixteenth among the Fortune 500 companies. With such a scale, the stock shrank by 350 times. The results can be imagined.

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

After the Enron incident broke out, S\u0026P continuously downgraded Enron's bonds within a month, eventually downgrading them to "junk bond" status.

Countless investors went bankrupt in an instant, and almost every famous investment fund was hit by a thunderstorm.

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

"Please watch the international newsletter below...

"Russian astronauts troubleshooted the space station and successfully docked the spacecraft..."

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

"Due to a prediction error, a Japanese satellite crashed into the ocean in the Antarctic Circle..."

"The U.S. company Enron officially filed for bankruptcy, which is the largest bankruptcy case in U.S. history..."

Upon hearing the news, Lin Mancang's hand holding the chopsticks suddenly shook, and the poached eggs immediately fell into the soy milk, splashing all over his face.

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

At this time, other news had begun to play on the TV. After all, it was just an international briefing. The introduction to the Enron bankruptcy case was only a short sentence.

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

Central Channel 1, it can’t be fake news.

"Is Enron really bankrupt?" Lin Mancang suddenly remembered Li Weidong's prediction, and then cursed fiercely: "Li Weidong is a crow's mouth!"

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

"Mr. Lin, I have contacted Enron, but the other party did not answer the phone, sent an email, and has not received a reply so far." The subordinate said.

"I'm not answering the phone and I'm not replying to emails. It seems that Enron is really going bankrupt!" Lin Mancang said anxiously.

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

"That's true, it's night over there in the United States!" Lin Mancang calmed down and continued, "But we still need to get the exact information about the United States as soon as possible. If any of you have friends in the United States, please try your best to contact us and inquire as soon as possible. Find out what happened to Enron!"

Another person next to him said: "Mr. Lin, I don't think we need to be too anxious. Even if Enron really goes bankrupt, other companies will come to acquire it.

After all, Enron is engaged in energy trading, and international energy prices have risen sharply in recent years. Energy is very profitable. Enron will definitely have many high-quality assets worthy of acquisition.

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

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

I thought that at the critical moment, the U.S. government would 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 were all considering business factors before, but we never thought that the U.S. government and a company as big as Enron would go bankrupt. The consequences would be disastrous. The government cannot leave it alone!"

Lin Mancang took a deep breath and continued, "The U.S. government will definitely take action to save Enron!"

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