Chapter 2777 Eye-Opening

In the business car on Fifth Avenue, the girl next to Huang Yujin looked out the window for a long time, and finally couldn't help saying, "I thought these stores would have discounts at this time,"

"That's right, I thought so too," a girl immediately agreed.

The male compatriots immediately laughed heartily.

As soon as you hear their laughter, you know that they must have suffered a lot of shopping and paying bills, so when they heard the ladies complaining like this, they really felt happy from the bottom of their hearts.

The ladies were really a little depressed. At this time, shouldn't the market in the United States be depressed? Why are there so many people patronizing these luxury stores?

Xu Bin, who was somewhat full of confidence, also interjected, "I think it's because there are too many girls in the world who think like you, so these stores haven't thought about discounts now."

The men added fuel to the fire, one said, "New York is an international shopping city,"

Another said, "It's also a world-class shopping city..."

Huang Yujin added, "It means that all the spendthrift women in the world come to New York to shop, so these stores can be so tough, right?"

She is a southerner, speaking such northern-style words in very ordinary Mandarin, and she is really funny.

The car was immediately full of laughter.

The girls didn't think about one problem. Not to mention tourists from all over the world, let alone the United States, a country that has been the world's number one economy for many years, even Russia, which is thought to have a very poor economy, their folk heritage is actually still higher than ours.

This is even more true for the United States. They have been leading developed countries for so many years, and the richness of their folk heritage is far beyond our imagination.

Besides, New York is a city full of rich people. Therefore, no matter how the situation changes, customers in luxury stores on Fifth Avenue will always be as busy as tourists in Central Park.

So far, the subprime mortgage crisis has had the greatest impact on those families who originally belonged to the bottom, and the unlucky few rich people like Dick Fuld of Lehman Brothers.

So far, their large middle-class families have also been affected, but it is far from being a serious injury.

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 unlucky people 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.

There are only four people on the Blackstone side, headed by him.

In addition to Cummins and Xu Bin, the people representing Feng Yiping's side are Lold and his capable deputy Gary Cohen.

As an American businessman who knows us well, Su Shiming was particularly enthusiastic when he saw a Chinese face like Xu Bin in the other team. He knew that some of our people were 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, and he didn't care about these things. Looking at Su Shiming's smiling face, he only thought about the more than 2,000 Hilton hotels in Blackstone's hands.

Lloyd was only going to attend this first meeting, so after a very meaningless greeting, smiling on the surface but MMP in his heart, he directly threw an evaluation report to Su Shiming and them, "Stephen, this is the most professional team we hired, an analysis of Hilton's situation."

Su Shiming only took a rough look at the evaluation agency, mainly PricewaterhouseCoopers and KPMG, two accounting firms. He didn't even look at the composition of the evaluation team. He knew very well that on such issues, his peers on Wall Street would not have any problems. They said they were the most professional, so they must be the most professional, and they would never be a randomly assembled team of chickens.

But he also knew that the conclusion drawn by such a professional team on such an issue, although relatively more fair, would not necessarily be more professional than that of a fake team.

As a big shot in the financial industry, he was very clear about the morality of these institutions, including the Big Four accounting firms.

If they get paid for their work, shouldn't they be on the side of the party that pays?

He only flipped through the first part and went straight to the final conclusion. At this time, his assistants and executives could not help but say, "It's unbelievable!" "Just kidding," "It's incredible!"

Su Shiming's heart jumped, and he looked at the conclusion again, "... At this point, the loss of this investment has exceeded 83%..."

He looked coldly at Lourdes opposite him.

Lourdes still had a smile on his face, but that smile was not very pleasant: his mouth was a little crooked, and his eyes were tilted to one side.

Under the polite smile, there was disdain, or in other words, his smile was originally a smug, sarcastic smile.

Su Shiming threw the report lightly and said only one word, "bullshit."

Except Xu Bin, no one else seemed surprised.

The Wall Street celebrities in suits and ties only act gentle and polite in front of the camera. At work and in private, they are never reluctant to use all kinds of dirty words.

Su Shiming only said such a word in the situation before him, which is actually quite elegant.

The conclusion of this report is that the investment has lost more than 83%, that is, only 17% is left.

They spent $26 billion to acquire Hilton last year. According to the conclusion of this report, Hilton is now worth less than $4.5 billion.

Of the $26 billion, in addition to the $20.5 billion loan, they directly invested $5.5 billion.

In general, not only did they lose all the $20.5 billion in loans, but their $5.5 billion has now shrunk to $4.5 billion.

Hilton, which was worth $26 billion in July last year, is not worth $4.5 billion now. Su Shiming did not directly point at Lord and his friends and curse them, which was considered very restrained.

"Lord, Blackstone is so sincere in discussing debt issues with you, and you treat us with such garbage?"

"Haha," Lord smiled and looked at several people on his side, then at several people on the opposite side, and shook his head, "Stephen, that's because you used our loan to invest in such garbage,"

Xu Bin was a little bit uncomfortable again.

Although he knew that this was a bargaining exchange, "garbage" like Hilton was really what I wanted to pick up.

"Garbage?" Su Shiming also laughed, "If I remember correctly, when Blackstone launched this project last year, including Goldman Sachs, they all felt that their share was not big enough?"

This is also a fact.

When Blackstone introduced this business to the banking group last year, the banks were indeed rushing to lend money, because not only could they get a good interest rate, but they could also use asset securitization in the market to exchange liquidity for these loans.

But who knew that the market would take a sharp turn for the worse soon after? Not to mention the exchange of liquidity, not to mention the high interest rate, if I hadn't made this suggestion to Feng Yiping, Blackstone would probably have discussed debt restructuring with them long ago, that is, the issue of reducing part of the principal.

This is the so-called one time and another time.

"Stephen," Lold changed to a more comfortable sitting position, "The reason why we were so active last year was mainly because of you. We believed in you as an old friend, so we supported you with all our strength,"

Su Shiming didn't even bother to refute his words, believe me? Support me with all your strength?

To put it bluntly, isn't it because it's profitable?

"But Stephen, 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 what did Blackstone do? Have you seriously considered repaying our loan at once? Even if it's just a part of it?"

His deputy, Gary Cohen, who is tall but also has little hair on his head, immediately said, "We have never heard of this news. I just heard that they are going to let us reduce our debts,"

"It's completely understandable," Cummins nodded with a smile, "In many cases, it is not the creditors who are in a dominant position, but the debtors,"

"Those debtors with strong power and influence are especially true,"

Laud always felt that when Cummins said this, the look he gave him had a special meaning.

But please, brother, Goldman Sachs didn't delay the payment of the balance of your CDS contract before, but we didn't reach an agreement on the relevant issues, right?

Xu Bin looked at Su Shiming opposite him, facing waves of sarcasm, his face became more and more green, and he felt that this time was really an eye-opener.

Are the bigwigs on Wall Street so aggressive when talking about such big deals?