Chapter 2927 Review and Sorting

NEXTDOOR Park, also from top to bottom, Cummins, full of energy but full of ambition, came to Feng Yiping's office again.

When he saw the young boss looking out the window and thinking deeply, he immediately felt that his new proposal might not be supported by his boss.

"Oh, Cummins, please take a seat." Feng Yiping looked at his watch and closed the thick folder on his lap. "The proposal to acquire Zipline is very constructive."

Cummins understood better that the boss did not agree with this proposal.

"But for some reasons, I decided not to consider this merger for the time being,"

Of course Cummins was a little disappointed, but he immediately expressed his stance, "I fully support your decision, boss."

"Frankly speaking, their asset condition is really, really bad."

According to the information they have, the total amount of Spanline's asset list is US$3.84 billion, but its debts total nearly US$2.4 billion.

"Thank you." Feng Yiping also brought him a bottle of water. "This is one aspect, but it is not the main reason why I decided not to consider it for the time being."

"First of all, it is the difficulty of the acquisition. Considering the shareholders of Spansion and our good friend from Japan, Mr. Sun, I believe that it will be very difficult to acquire Spansion,"

Spansion was established in 2003 by AMD and Fujitsu, who integrated their flash memory businesses, each holding 50% of the shares.

Although AMD later increased its holdings to 60% and was listed on Nasdaq at the end of 2005, Japanese shareholders are still one of its largest shareholders, and Japanese assets are also important assets to Spansion.

Feng Yiping fully believes that Masayoshi Son, who is currently in the $51 billion pit of Yahoo, will never let go of such an opportunity to embarrass him.

Cummins nodded, "Yes Feng, you are right, I'm sorry I didn't take this factor into consideration,"

He knew a lot about Mr. Sun. Based on his personality and the current situation of Yahoo, he also believed that as long as they expressed such a wish, Mr. Sun would definitely try his best to set up various arrangements for them. obstacle.

"But really speaking, this is not the main reason why I decided not to consider acquiring Spanzo," Feng Yiping stood up. "Cummins, have you ever considered why AMD would divest its flash memory business?"

Cummins thought for a moment, "You mean, they're not optimistic about this either?"

No company will divest itself of promising business.

Feng Yiping was very pleased that his subordinates were so agile, "Yes, I think this is the reason why they divested this part of the business,"

"I think you can see that in the flash memory chip industry, since the price of products is almost directly determined by factors such as the manufacturer's production scale, labor, raw material costs, and the advanced level of the manufacturing process, the advantages of Asian manufacturers, like Samsung, are It is very obvious that old European and American manufacturers like Spansion are at a disadvantage."

Cummins followed Feng Yiping's figure, "Just like the cost disadvantages of Qimonda and Samsung in terms of memory,"

"Yes," Feng Yiping sat down, "In addition, Spansion's flash memory does not have obvious performance advantages when competing with Asian manufacturers such as Samsung. That is to say, they have already fallen behind in terms of process and manufacturing technology. Without an advantage, that’s why Zipline’s business situation is as bad as it is now,”

“The reason why we acquired Qimonda is that we urgently need its memory chip technology and related talents. As you know, although Qimonda’s flash memory technology is far behind that of Spansion, after all, it already has a good reputation. Foundation,"

"I think this is also an opportunity for the R&D team we are forming to carry out technical research accordingly,"

Cummins immediately said, "You are right, boss. Even if we use Zipline's patent for a fee, we really don't need to invest so much,"

Feng Yiping looked at him. In any case, this was a subordinate who made him worry-free, "So under this premise, I think that spending a high price to acquire Spansion, especially considering that most of its nearly 9,000 employees, is mainly In countries with high labor costs like the United States and Japan, it is not very necessary,"

"I understand Feng," Cummins stood up and prepared to leave.

He knew that Feng Yiping had a lot of work on his first day back in the park.

"Don't worry," Feng Yiping motioned him to sit down. "I was thinking just now, Cummins, do you feel that we have made too many moves in mergers and acquisitions from last year to now?"

"We have indeed made many mergers and acquisitions since last year, but Feng," Cummins looked at him, "we all know that all the mergers and acquisitions we made are very necessary,"

"I know, I know Cummins," Feng Yiping told him not to get excited. "I'm just worried that I might be a little too aggressive in mergers and acquisitions. I hope you can remind me in time in this regard,"

"I will, boss, but I am sure that there will be no such opportunity. Your decision-making in this area has always been perfect and impeccable,"

"Hahaha," Feng Yiping pointed at Cummins and laughed. Such flattery is still comfortable.

"But Cummins, we must learn from Yahoo's lesson. They acquired so many startups, but few of them were able to develop in the end,"

"Now, I think we should slow down the pace of mergers and acquisitions a little, deal with the newly acquired ARM and Qimonda first, let them develop healthily like the companies we acquired before, and become our new important part. This is the top priority. What do you think?"

It is of course a good thing to be able to defeat Samsung and acquire a company like Qimonda, but Yahoo's rise and fall always reminds him that he must be cautious in this regard.

Cummins then realized that his boss was introspecting, "I'm sorry Feng, I always feel that it's profitable to acquire some companies now, and I didn't consider this issue from the opposite angle."

"Don't worry, I will convey your instructions to everyone immediately, so that everyone will shift the focus of their work to the development of the acquired companies."

Feng Yiping stood up, shook his hand, and patted him on the shoulder, "I know that I can always get your support."

After seeing off Cummins, he, who had just rejected a proposal for an acquisition, couldn't help but think of another acquisition. When will Goldman Sachs and Morgan Stanley complete my other commission?

He looked at his watch and it was time to go to Google.

…………

Google, Page and Brin warmly hugged Feng Yiping, "Congratulations, man, according to the information we got, you did a great job in Germany!"

Feng Yiping waved his hands proudly, "It's nothing, you all know that I am always so awesome,"

Before the two started to squeeze him, he squeezed in between them and sat down, with his hands on their shoulders, "Don't you see who my good friends are, how can Samsung compare with me?"

The two tilted their heads to look at him, and Brin asked Page, "Do you know when he became so shameless?"

Page shook Feng Yiping's hand off, "He has always been like this, don't you know?"

"Really?" Brin looked at Feng Yiping seriously for a few times, and then said as if he suddenly realized, "I remember, it's true,"

"Guys, guys," Feng Yiping smiled and raised his hand to make peace, "I came to express my gratitude to you, thank you for your care in those reports,"

Of course, he was talking about Google's related searches about him and Madoff's $5 billion.

He believed that the top results of Google searches were highly consistent with those of Facebook and Twitter, and these two must have done something.

"I don't understand what you are talking about," Page laughed.

Of course, the two of them interfered.

Although doing so was slightly contrary to their insistence, they were not saints and were willing to make such an adjustment for Feng Yiping.

"By the way, how is the preparation for the hearing?"

"It should be well prepared. I don't think there will be any problems, but," Feng Yiping shook his head, "I now feel that the decision to accept Madoff's investment was somewhat ill-considered,"

Page glanced at Brin, "Feng, this is exactly what we want to talk to you about. We know your intention, but there is really no need to provoke such trouble,"

"Feng, I am really happy for you to reflect on this," Brin also said, "The financial industry is an industry that can bring high returns. You are also at ease in this industry, but knowing this When I got the news, I was really worried that you would be infected with the same problems as those guys on Wall Street."

"Now it seems that I thought too much. Congratulations, buddy. I'm glad you can still be sober."

Feng Yiping thought about the mess in his relationship. "There's no way. You can be unclear about some things, but you must be sober about some things."

"By the way, are you free tomorrow? Dinner, I'll treat you!"

Breen's hand fell heavily on his shoulder. "It seems that you are also sober about this matter. We are very relieved!"

Feng Yiping looked at him helplessly. When did this guy learn to talk like me?

Maybe, good friends are like this?