Chapter 643 CEO Abdication

"I won't say much about the redundant words. Our CEO, Mr. Anderson, has already said enough. I will mainly talk about what I can bring to Delta Air Lines."

Yang Cheng put one hand in his pocket, and the other raised the topic to talk freely, looking very relaxed and casual. At the same time, he secretly teased Richard Anderson, dislike him for talking too much.

According to the procedures prepared in advance, Yang Cheng will be responsible for describing a series of recent investment projects led by him in Delta Air Lines. bring about change.

Therefore, through the live broadcast of these media and the Toutiao app, countless shareholders who followed this press conference knew about the series of acquisitions of Delta Air Lines, Hawaiian Airlines, Hawaiian Island Airlines; the strategic cooperation with China Eastern Airlines, and the strategy for Korean Air. invest.

One after another, they were all good news that stimulated the stock price to rise. As of the end of the press conference, in just two hours, the stock price of Delta Air Lines abruptly rose by nearly 10%, from the opening price of 30 US dollars to nearly 10%. 33 US dollars, but at the same time, the trading volume is also shrinking rapidly. What does this mean? Anyone with a little common sense knows that everyone is not stupid. It is obvious that the market outlook will continue to be bullish. Who is willing to sell easily?

Thanks to the purchase of aviation kerosene from Abramovich and Konrad Koch for several months in a row, operating costs continued to drop, and net profits rose year-on-year. One of the star stocks in the market, in just over two months after the press conference, the price per share rose from 30 US dollars to 49 to close to 50 US dollars.

In other words, in just over two months, Yuanshan Capital and Yang Cheng have made a combined paper wealth of nearly 5 billion U.S. dollars, which has almost recovered most of the investment cost. Of course, on paper it is In this way, after all, Yuan Shan and Yang Cheng had no intention of selling to cash out.

The major financial media also gave a very high evaluation of the Yang family's investment, and all praised this as a textbook-level investment case.

It will take some time for the stock price to rise after the flowers bloom. We still focus on the present.

After the press conference, the executives of Delta Air Lines and Yang Cheng, the new executive director who attended the press conference, did not disperse, but came to Yang Cheng's office on the top floor, ready to continue in-depth exchanges.

Of course, everyone has their own ghosts. Yang Cheng was thinking about how to make Richard Anderson resign from the position of CEO voluntarily, but Richard Anderson was worried because he was afraid that Yang Cheng would take advantage of the big shareholder His status forced him to resign, and he had almost no room to resist. The second was that he was afraid that Yang Cheng would make trouble, and he would be held accountable for his "disrespectful words" at the press conference.

Yes, Richard Anderson is very aware that what he did at the press conference will easily arouse Yang Cheng's strong dissatisfaction, but there is no way, this is the only thing he can do. There was friendly communication, but neither Yuanshan nor Yang Cheng himself accepted this request. The reason was that Richard Anderson's biggest failure during his tenure was investing in the trainer refinery!

Sometimes it is like this, you do ten thousand good deeds, but none of them can outweigh the impact of one mistake. Yang Cheng is willing to admit his management talent, but he is very opposed to his performance in terms of strategic overall situation. This is more than that, if he Being able to recognize the mistake in time and wake up, it is not impossible to give him a second chance, but he obviously does not want to admit his mistakes, and would rather cheat to enrich his vanity. This is a taboo in the management of enterprises in Yang Cheng's view.

Therefore, no matter what, such people cannot be kept, otherwise they will be breeding tigers, leaving leeches sticking to their skin to suck their own blood.

In the small conference room next to Yang Cheng's office, the two sides had a serious discussion on this issue.

Yang Cheng sat at the head of the long table made of tempered glass, and dominated the conversation with an extremely strong posture, "Richard, until now, are you still unwilling to admit your decision-making mistakes on the refinery project?"

Richard Anderson suppressed his uneasiness,

He pretended to be calm and explained, "Mr. Yang, I'm afraid we have misunderstood the refinery project. Please allow me to explain in detail."

Yang Cheng raised his hand to motion for him to continue, there is still room for people, wouldn't it be too much not to let people say anything? Besides, he also wanted to hear what the old guy could say.

"Actually, as early as 2012, Delta Air Lines already had a huge aviation fuel logistics system, which had storage and pipeline transportation capabilities, as well as a team of energy futures traders.

We believe that restarting the refinery trainer can inject a large amount of aviation kerosene into the entire aviation market, so this is a smart way to reduce the price of aviation fuel in the entire Northwest Territory.

Most importantly, we never intended it to be a money-making machine, but to use it to secure supply.

From this point of view, our goal has been achieved, and the trainer factory has indeed stabilized the price of jet fuel for Delta Airlines. "

Hearing this, Yang Cheng couldn't help but interrupted, "But don't forget, not only ourselves, but also all the airlines in New York and Philadelphia are also beneficiaries. From your point of view, the acquisition of an oil refinery is not so much a Selfless act, it is better to say that Delta Air Lines is donating money and funding the enemy.

And the number of our losses, we can purchase 3-4 brand new Boeing 787 airliners, don't think I didn't do the research. "

With a cold snort, he took a stack of documents from Susu behind him and slammed towards Richard Anderson. He sneered and said, "In 2012, Delta Airlines invested 180 million US dollars to modernize the factory-the result was $63 million loss;

In 2013, the firm raised another $52 million in investments — resulting in a loss of $116 million.

Because the trainer's plant does not have the ability to blend ethanol into its own gasoline, in order to meet federal regulations, Delta Airlines must spend millions of dollars every year to buy so-called "blending credits" from the government Defeated a legal challenge by the Environmental Protection Agency (EPA). "

All of these cases were picked up one by one by Yang Cheng, which became the last straw that overwhelmed Richard Anderson. He knew that his career at Delta Air Lines was coming to an end, and Yang Cheng had already found out such details. If there are no details, then the evidence that he made false accounts to cover up his negligence is probably already in Yang Cheng's hands.

However, he was really wrong about this point. The fake account was done seamlessly. Rao Yang Cheng spent a huge price and did not have any real evidence. In other words, if Richard Anderson is stubborn, Yang Cheng really had nothing to do with him. Without evidence, the effective way of the law would be lost, and Yang Cheng was helpless.

Therefore, in order to completely extinguish Richard Anderson's gloomy eyes, Yang Cheng continued to press, "In addition, the steps you hoped to take to make money from the U.S. oil boom are also extremely difficult, right?

The trainer factory has been processing Nigerian oil, which is priced according to the Brent index, and the oil from the Bakken oil field in North Dakota can completely replace Nigerian oil. You immediately realize the price difference. In 2012, the selling price of these oils It is $20 a barrel cheaper, mainly because there is no crude oil pipeline between the Bakken field and Philadelphia.

So transportation became a problem, and for that, Delta Air Lines under your leadership had to resort to rail transportation, which costs about $15 a barrel and eats up most of the difference between the two crude oil prices, but is still Well worth the money, you're doing pretty well from this point on.

However, a large amount of U.S. oil was transported by this method, which caused the railway capacity to be very tight, and the poor transportation caused a shortage of 1 million barrels of crude oil at the trainer plant for nearly two months.

In this case, you had to make up for it, put your hope on the sea, and directly leased an oil tanker to transport crude oil from the Gulf Coast of Texas to the trainer. In order to get rid of the plight of being restrained, An order was also placed for the construction of a new tanker.

At the same time, the price of oil has been plummeting, and the difference between Nigerian crude oil and Bakken oil has almost disappeared, and all the hard work you have done before is for naught.

Even so, you are still trying to whitewash the trainer factory. After investing about 40 million US dollars in this factory in 2014, you said in a financial report conference in December that the trainer factory will be profitable in the fourth quarter because Jet fuel prices are not falling as fast as crude oil prices.

It's ridiculous, I'm afraid you didn't realize that these meager profits were about to disappear when you said this?

The inventory of refined petroleum products is so high, and the price of jet fuel is gradually catching up with that of crude oil. U.S. refining profits will drop from $17 per barrel in the first quarter of 2014 to just $7.50 this year.

It's a real disaster, it's better to hedge costs from other fuel oil than to save costs from your own refinery, your plan has completely failed, Richard, admit it, you live on The trainer refinery not only failed to save the company the expected cost, but added a loss of more than one billion US dollars. Fortunately, our profitability will continue to increase, otherwise, just because of one of your wrong decisions, it will lead to the loss of the entire company. The financial system collapsed, or even went bankrupt directly. "

Yang Cheng's last words hit Richard Anderson's heart like a gavel.

His eyes were dull, his face was flushed, and his breathing was disordered. All these performances showed that Richard Anderson was on the verge of collapse.

Yang Cheng accepts as soon as he sees it, the things that should be said have been said, and the rest depends on Richard Anderson's own choice. If he is still stubborn, Yang Cheng really can only tear his face to court with him, even if there is no There is no real evidence, but at least it can keep him away from the management position. Without income, even if it is delayed, it will drag him to death.

At this time, Gerald Greenstein, the former chairman of the board of directors who had been silent for a long time, could be regarded as Richard Anderson's nobleman, said, "Richard, the efforts you have made for Delta Airlines over the years, the whole company You can see it in your eyes, now it's time to retire and take care of your life!"

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