Capítulo 262: Chapter 262: Enter the Core of the California Consortium
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When Hardy left Giannini's, it was already one o'clock in the morning. Giannini, however, remained awake and alone in his study, reflecting on the importance of the Marshall Plan and the potential benefits it could bring.
The California consortium must strengthen its ties with Hardy. Giannini called his assistant and instructed, "Notify the other clan chiefs. There's an urgent matter to discuss. Have them come to the manor at eight o'clock tomorrow morning."
Early the next day, the leaders of the consortium gathered at the Janini Manor. They met in the backyard garden, where they sat and chatted.
Giannini addressed the group, "After President Johnson's reception yesterday, Hardy and I spoke until one in the morning. He shared details about the Marshall Plan. Johnson plans to form a private delegation, and Hardy is one of the three team leaders."
"The other two teams are from Rockefeller and Citigroup."
The heads of the consortium, understanding the significance of the news, knew that the Marshall Plan, involving over $20 billion in funds, represented a tremendous business opportunity. The ability to supply goods, invest in European reconstruction, and access numerous national projects was too lucrative to ignore.
"I called Rockefeller this morning," Giannini continued, "and the President confirmed that they are assembling their team. They will select companies from their consortium suitable for European investments."
The leaders were eager to understand how much they could benefit from the plan.
"How much can we expect to get?" someone asked.
Giannini replied, "Hardy mentioned there's no set limit. The investment amount will depend on each team's capabilities."
Everyone was pleased to hear this. Although they might not compete with Rockefeller or Citigroup, any opportunity was better than none.
A voice spoke up, "What about the presidential election? Should we consider changing our support?"
Giannini shook his head, "No need to publicly switch sides. Hardy has already secured benefits for us. We don't need to make a move just yet."
The consensus was clear. The benefits Hardy could provide were too significant to overlook.
"I support Hardy's entry into the core layer," said the chairman of Northwest Bank.
"I agree," said the chairman of Safe Pacific Financial Company.
"I concur."
"Me too."
With unanimous support, Giannini proposed, "Let's discuss how many shares to allocate to Hardy."
The core of the California consortium was centered around Bank of America. The true decision-makers were the major shareholders, including the Janini family, Western Banking Corporation, Safe Pacific, San Francisco Consortium, Crocker National, and others.
The Giannini family held the largest share at 23%, with other families and companies holding around 10% each.
"To bring Hardy into the core layer," someone suggested, "we should offer him at least 10%. Anything less might not be tempting enough."
A member added, "12% seems fair. Hardy is a forward-thinking investor, and having him onboard could be invaluable for the consortium's future."
The group agreed to allocate 12% of Bank of America's shares to Hardy. This would place him in the core decision-making circle and solidify his role within the consortium.
"How much is that worth?" Hardy inquired.
"Approximately $380 million," Janini answered.
Hardy smiled and said, "I don't have that much liquid capital at the moment. Could I borrow the amount from Bank of America?"
The leaders were surprised. Hardy was once again using leverage to acquire shares. Janini and the others exchanged looks before agreeing.
"Sure, we'll arrange the loan," Janini confirmed.
Andy arrived from Los Angeles with the team to finalize the share acquisition. Wells Fargo purchased 12% of Bank of America's shares, making Hardy the fourth-largest shareholder. The purchase was financed by a $380 million loan from Bank of America.
The Global Times reported the transaction, surprising many who saw Hardy's rapid rise from being on the periphery to becoming a core member of the California Consortium.
Despite past conflicts, this swift development underscored Hardy's growing influence and strategic prowess. Many admired his ability to leverage investment opportunities and navigate the complex world of high finance, elevating him to one of the core figures in a major American consortium in just three years.
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