Bab 142: Chapter 142: Empty Glove White Wolf - Airline
Andy arrived in New York with his team and lawyers. Meeting Hardy at the hotel, he was briefed on the aircraft purchase. Hardy explained, "I've finalized the purchase contract with the military. My plan is to establish an airline, use the contract to secure a bank loan, and then use that loan to pay for the aircraft."
Andy nodded appreciatively. "Boss, your strategy is brilliant. Using airplanes as collateral to get a loan effectively means acquiring 51 planes at no immediate cost."
Hardy continued, "The planes are priced lower than their actual value. The C-53s cost $38,000 each, and the C-47s $36,000 each. I hope you can negotiate with the bank for a larger loan, as operating an airline will require substantial funds."
Andy admired Hardy's approach even more. It wasn't enough to get 51 planes for a bargain; Hardy wanted to leverage them further, even for operational expenses. The "empty glove white wolf" tactic was in full force.
"Understood, boss. I'll get right on it," Andy said.
---
Andy's efficiency was impressive. Registering the airline was straightforward, and with Brigadier General Williams' oversight, the purchase contract was finalized quickly.
The details were:
- **25 C-53 Personnel Transport Aircraft** at $38,000 each, totaling $950,000.
- **25 C-47 Cargo Transport Aircraft** at $36,000 each, totaling $900,000.
- **1 B-29 Sky Fortress** (labeled as scrapped) at $150,000.
The total price came to $2 million. Despite its status, the B-29 was a valuable asset, more expensive than the C-47s even in its scrapped state.
At the Logistics Support Bureau's massive parking facility, Hardy and Brigadier General Williams inspected the planes. The area was enormous, over ten square kilometers, housing hundreds of aircraft.
Williams introduced the C-47, praising its durability and load capacity. "The C-47 is known as the 'Sky Train,' with a standard load of 2.7 tons and a capacity of up to 3 tons in emergencies."
He also mentioned the C-53's versatility, typically configured with 36 seats instead of the standard 28, and noted its range of 2,600 kilometers, ideal for domestic flights.
Williams assured Hardy, "I've personally selected the best 50 planes from this batch for you. They're in excellent condition and should serve you well for decades. Plus, we've included enough spare parts to last five years."
Andy, observing the exchange, was impressed by Hardy's skill in forging connections. Despite just meeting Brigadier General Williams, Hardy seemed to have formed a strong bond, showcasing his exceptional interpersonal skills.
They moved to the B-29, which was significantly larger than the C-47. With its impressive range of 9,000 kilometers, it was a formidable asset. Hardy admired the B-29, known for its role as a "Super Sky Fortress" in World War II and its status as a leading transport aircraft.
In the plane's cabin, Hardy complimented Williams, "Congratulations on your promotion to deputy director of the Security Bureau. Shouldn't you be changing the star on your shoulder?"
Williams chuckled, "It's been reported, but official approval won't come through until May or June."
Williams also recommended General Knudsen as a consultant for Hardy's security company. "General Knudsen, a former member of the National Defense Advisory Council and Director of Wartime Production Administration, has significant connections. I worked under him, and he's instrumental in my promotion. I'll ask him to connect with his military contacts."
Hardy was excited about the prospect of working with such an influential figure. "Please arrange a meeting with General Knudsen. I'd like to visit him myself."
Williams agreed, "General Knudsen lives in Detroit and enjoys a quieter life on his farm. I'll get in touch with him."
---
Upon returning to New York, Hardy instructed Andy to arrange meetings with banks for the loan negotiations. In the Hilton Hotel's conference room, Andy invited six credit managers from major banks: Citibank, First National Bank of New York, Bank of New York Mellon, Bank of America, First National Bank of San Francisco, and Wells Fargo.
These managers were eager to discuss the opportunity, given Hardy's prominent position in the business world. Andy presented the purchase contract for 51 aircraft and outlined the terms.
Andy proposed, "HD Airlines is seeking a $5 million loan over five years, using these aircraft as collateral. We're also hoping for a 1% reduction in the standard interest rate."
The managers were initially skeptical. "A $5 million loan against these aircraft seems high; $3 million might be more reasonable."
"Reducing the interest rate by 1% is quite significant. It could impact the bank's profitability," another remarked.
Andy anticipated their concerns and replied, "Once HD Airlines is operational, it will bring substantial business and liquidity. We plan to deposit significant funds with the bank we partner with."
Banks value liquidity and reliable cash flow, making Hardy's proposal attractive. The managers agreed to consider the offer and promised to follow up with their decisions.
Hardy's strategic approach to securing favorable loan terms highlighted his business acumen. With the aircraft and anticipated bank loans, he was well-positioned to establish a leading airline and further expand his empire.
Bab 143: Chapter 143: Consultant of HD Security Company
A company's ability to compete with banks is evident in cases like Laoganma: a privately-held firm that pays in cash, never defaults, and holds billions in reserves. Such a company, with low debt and substantial cash flow, poses a minimal loan risk and attracts banks eager to lend.
Banks are not charities; their primary goal is profit. They are more inclined to lend to wealthy clients, hoping to benefit from their financial activities. Conversely, they avoid lending to those with less stability due to repayment risks.
The next day, Andy began receiving loan offers from various banks.
The First National Bank of New York proposed a $2 million loan with a 0.3% interest reduction, contingent on HD Airlines channeling its financial business through them. Andy chose to decline this offer.
Citibank of New York offered a $3 million loan with a 0.5% interest reduction, provided that HD Airlines' cash flow was managed through their bank. While this was within the range they had discussed, Andy and Hardy aimed for better terms.
The Bank of New York Mellon and the First National Bank of San Francisco made offers similar to Citibank's. Bank of America's proposal was slightly better, including a 0.6% interest reduction and a security contract with their Los Angeles branch. Andy and Hardy considered Bank of America as a strong candidate.
Unexpectedly, Wells Fargo sent Henry Wells, the Vice President, to meet Hardy.
"Hello, Mr. Hardy," Wells began. "I'm Henry Wells from Wells Fargo Bank. We'd like to discuss a potential loan."
"Of course, Mr. Wells. What are the details?" Hardy invited him to sit.
"Wells Fargo is prepared to offer a $4 million loan with a 1% interest reduction," Wells explained. "However, we would like all of HD Airlines' financial operations and cash flow to be managed through Wells Fargo."
Hardy glanced at Andy. Andy had mentioned that a 1% interest reduction was highly unusual, yet here was Wells Fargo offering just that.
Wells continued, "We understand that a 1% reduction means the bank would make almost no profit. However, our goal is to establish a strategic partnership with HD Group. Your various enterprises—Walsh Mining, Playboy Magazine, Barbie Toy Factory, MEBO TV Factory, and Rocky Mountain Mineral Water—represent significant potential. We believe a strategic partnership could be mutually beneficial."
Hardy recognized that Wells Fargo was trying to secure a valuable client. Although currently a local bank, Wells Fargo had a solid reputation and wanted to build a strong relationship with him.
"Alright, I agree to the terms," Hardy decided.
Wells was pleasantly surprised by Hardy's quick decision. He shook Hardy's hand, expressing his gratitude. "Thank you for your trust in Wells Fargo. We will ensure you receive top-notch service."
Henry Wells then met with Andy, who would be the main contact for future dealings with Wells Fargo.
With the loan agreement settled, Hardy announced the establishment of HD Airlines and initiated the recruitment process for its management team.
Hardy then flew to Detroit with Lanster and Henry to meet General Knudsen. The old general, preparing for a fishing trip, welcomed them warmly.
After a friendly fishing session, Hardy and Knudsen discussed the future of HD Security.
Hardy outlined his vision: "Security companies typically focus on bank security, large corporations, and asset protection. However, I see broader opportunities. We could expand into police support, provide security for celebrities, manage prison security, offer services to federal agencies, and even form a mercenary group for international conflicts."
The old general was impressed, particularly by Hardy's innovative ideas. Although some concepts were new to him, he recognized their potential.
A couple of days later, General Williams informed Hardy that General Knudsen was pleased with Hardy's vision and agreed to become an HD Security consultant. Lanster traveled to Detroit to finalize the consulting contract.
With General Knudsen joining the team, HD Security gained a valuable ally and expert advisor.
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