Chapter Eight Hundred and Seventieth Threat of Bankruptcy

"It's time to ship!"

Looking at the series of data on the trading board, Xia Yu calculated for a long time in his mind and said lightly.

Song Yang, who was beside Hou Yu, had a happy expression on his face, and quickly said, "Boss, shall I inform them?"

"Notify them to come to my house tonight to gather."

Xia Yu nodded slightly and ordered.

Although the New York Exchange Commission is investigating Galaxy Fund, Xia Yu is not without action.

The New York Exchange Commission also bears enormous pressure from public opinion and internal pressure.

For more than ten consecutive days, the New York Exchange Commission and the US Exchange Commission have not seized the handle of the Galaxy Fund. How can they withstand the pressure and affect the operation of the Galaxy Fund during normal working hours?

Therefore, the New York Exchange Commission and the US Exchange Commission had to secretly search for clues and keep an eye on the Galaxy Fund's account on the exchange.

As for those anonymous accounts, although they are controlled by the Galaxy Fund, they can now be bought and sold directly with machines, controlled remotely, and without offline face-to-face trading contracts. How can they be caught so easily?

As for trying to find the trading terminal of Galaxy Fund along the data, it's just wishful thinking. Xia Yu's computer ability will definitely beat a lot of masters in this era, not to mention that computers are not popular nowadays, and there are very few people who understand computers in the financial industry. , where is it so easy to be a bully.

Because of this, although many institutions throughout Wall Street have speculated that the mysterious spot giant in the market is the Galaxy Fund or its associates, they have not been able to find strong evidence.

That night, Xia Yu asked everyone to start shipping according to the plan.

After all, he just cleaned up the inventory of major mining companies and bought more production capacity for the next month. Now that half of the time has passed, it is time to start shipping.

Otherwise, after a month, the amount of goods supplied to the market by major mining companies will increase greatly, which will inevitably cause price fluctuations.

Instead of passively accepting it, it is better to start in advance and transfer the spot to other financial institutions.

The ultimate goal of financial institutions is to make money. They accept the spot at a high price. If they don’t continue to raise the price, what else will they make?

Xia Yu transferred part of the spot contract,

It seems that he has made a little less money, but he has pulled a large number of financial institutions on board, which helps him to sell the contracts that he has not yet sold. In fact, he still earns, and he earns more steadily!

Early the next morning, the team of Xue He and others began to look for the next home they had already been eyeing, including financial institutions and manufacturing companies that were in urgent need of metal copper and metal aluminum.

And the Galaxy Fund was not idle, Song Yang instructed the traders to start selling futures contracts.

With Xia Yu sitting in the trading room, he can intervene in scheduling in a timely manner, strongly control the rhythm, and minimize the impact of selling contracts on the market.

Under normal circumstances, Xia Yu didn't intervene, but let Song Yang lead the way. This opportunity to sharpen his subordinates was rare, and he naturally wouldn't make full use of it.

Buyers are like clouds, and Galaxy Fund is often bought by a trader from an institution closely watching the market within one second at most as soon as a futures contract is listed.

At this price, there are many conservative long-term institutions who want to close when they see a good deal, so there are always sell orders. Now Galaxy Fund has put sell orders one after another without attracting attention.

...

Now to say which company in New York is the most frightening, it is Philip Brothers, followed by Salomon Brothers.

Philip Brothers, Large Conference Room.

An emergency board meeting is now being held.

Tendler Wells is not only the CEO, but also the chairman.

He sat at the top of the oval conference table, got up and bowed to all the directors sitting, and said, "I'm really sorry, because of my management mistakes, the company has this huge crisis."

None of the directors present gave him a step down. After all, the company was in such a situation, and it was their money that was lost. No matter what the reason, the loss was so serious, it was no wonder that they were in a good mood.

In particular, Kester Philip, the representative of the Philip Family Fund, looked like a dead father, his face shrugged, and he stinks to death.

He said in a cold tone with hints of anger: "Wells, it's too late to say this now, I want to know how serious the company's crisis is!"

"Yes, time is urgent, let's get down to business."

"Every second that passes now, the price of high-grade copper futures and aluminum futures is going up a little bit, and we don't have time to waste."

"..."

The directors present said one after another, urging Tendler Wells to get to the point quickly.

Tendler Wells combines the positions of chief executive officer and chairman of the board. He has a strong control over the company. He has been covering his head and trying to solve it on his own. Therefore, in the face of repeated inquiries from other directors, he has dealt with it. .

There was also an emergency board meeting before, but the main content was to let the major directors exert their efforts. The situation at that time was not as bad as it is now, so the company's investment situation was not described in detail. It is normal for the major directors to not know the truth. .

Tendler Wells was thick-skinned, and although embarrassed, he didn't show the slightest on his face.

He took a deep breath, pondered for a moment, and said in a heavy tone: "Dear directors, our situation is already very bad, the company has reached the brink of bankruptcy, and the outside estimates are very accurate. According to the current situation, the company will lose at least one billion yuan. Dollar!"

Seeing the figure of one billion dollars in newspapers and hearing it from Tendler Wells's mouth is completely different, and everyone has no luck in their hearts.

The meeting room suddenly became commotion.

Tendler Wells continued to say blankly as if he didn't notice: "The company's stock price has fallen to $7.74 a share, a drop of more than 72.2% from the recent peak of $27.87, and the company's current market value is 11.61. $3.012 billion has evaporated from its peak.”

"And because of the influence of public opinion, investors have lost confidence in our company. Now investors who are waiting to get their money back can queue up to the copper bull. I have ordered people to delay as much as possible, but everyone knows that investors have the right to We won't be able to stop it for long!"

"Now that the company is on the verge of bankruptcy, if the prices of high-grade copper futures and aluminum futures continue to rise, our final fate is to file for bankruptcy liquidation!"

As soon as these words came out, the directors present finally couldn't bear it anymore, and they all exploded.

Kester Philip said decisively: "The company must not go bankrupt!"

The Philips family fund accumulated a 27.8 percent stake in Philips Brothers, which was worth $1.16 billion a month ago when the company's stock price was normal.

It's just that the company's market value has shrunk, and the equity in their hands is worth more than $300 million at the current stock price.

Although the loss is heavy, it is still valuable, isn't it? Anyway, there is some consolation!

If Philip Brothers went bankrupt, their stock would be worthless.

Not only that, once the assets are liquidated after bankruptcy, and after investors get their funds back, if the capital repays the debt, then the excess debt needs to be borne by the shareholders.

The Philip Family Fund, as the company's largest shareholder, will assume the largest debt.

If the debt of seven or eight billion dollars is still owed after the liquidation, the Philip family fund needs to bear the debt of two or three billion dollars, which is enough to wipe out the Philip family.

The Philip family has grown up relying on the Philip brothers company. It can be said that the equity of the Philip brothers company is the greatest wealth of the Philip family. Although they have used dividends to diversify their investments over the years, the number is not too much. After all, not all investments are equal. is successful.

Excluding the equity stake in Philip Brothers, the Philip family's assets are not much.

If Philip Brothers is really going to go bankrupt, then Kester Philip will definitely lose the equity before bankruptcy, even if it is free!

He is very clear that most of the capital of Philip Brothers comes from investors and banks, and the company's net assets are definitely not one billion dollars. Since Tendler Wells will definitely lose more than one billion dollars, as long as the company goes bankrupt, its assets Negative is for sure.

Instead of dragging the Philip family into the water with debts, it is better to find a fool to send the equity out.

I'm afraid that if there is no fool to ask for it, I will not be able to send it out!

"That's right, a company can't go bankrupt!"

The resident director of Bear Stearns also said firmly.

Bear Stearns is a Jewish investment bank, and it cooperates very closely with Philip Brothers. When the latter uses leverage, it often turns to Bear Stearns. Now Bear Stearns has borrowed at least one billion dollars to Philip Brothers.

If Philip Brothers went bankrupt and Bear Stearns failed to invest, they might not even be able to recover all the loans.

"Companies must never go bankrupt, nor can they go bankrupt!"

"..."

The resident directors of other banks have said that their attitude is surprisingly consistent, that is, the Philip Brothers company is not allowed to go bankrupt, and the reasons are exactly the same.

Seeing everyone's reaction, Tendler Wells, who was sitting at the top, slightly raised the corner of his mouth and then disappeared. He was just waiting for this moment!

"This is the situation now. If the company doesn't want to go bankrupt, it has to get enough capital, but unfortunately, our company can't borrow money, and no bank will lend us money."

Speaking of banks, Tendler Wells looked at the directors of those banks.

But at this time, these directors have been deaf and dumb, making it clear that they do not want to fall into this again.

Of course, there is still a way to go, that is, all shareholders will contribute money and inject capital into the company again to increase the company's total net assets.

As long as the company will not be insolvent by then, it will naturally not go bankrupt.

But this method, Tendler Wells knew absolutely impossible, because no shareholder would be willing to inject capital under such circumstances, even himself, even if his shareholding ratio was only 3.2% , and he is unwilling to inject capital.

He didn't even have confidence in himself, so of course he didn't mention it, and other directors naturally chose to ignore it.

For a while, the meeting room was quiet, and the atmosphere became dull and weird.

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