章節 1389: Chapter 1389: Blackmailing the Cleveland Consortium
In the following half month, there were surging undercurrents in Philippine politics.
Ferdinand summoned all his trusted aides to discuss the early start of the general election, and the majority opinion was in favour of it, which strengthened Ferdinand's confidence.
Most importantly, Ferdinand made a special trip to the United States to meet Ronald Reagan.
Although Ronald Reagan did not give him a very favourable impression and questioned his actions in the Philippines, which had damaged the image of 'democracy', they did not part on bad terms after all.
It didn't matter that Ferdinand was annoyed, he was afraid that Ronald Reagan would completely abandon his support.
Therefore, Ferdinand repeatedly assured Ronald Reagan of what he would do after completing his second term.
Afterwards, Ferdinand returned to the Philippines with a peace of mind.
The day after he returned, he announced the dissolution of the Philippine Congress and the early start of the general election.
The official election date was set for January 12, 1986!
After the announcement, he thought he had caught the opposition off guard.
However, he did not know that there was a group of people in the Philippines who were excited, and at the same time, this group of people were increasingly in awe of Xia Yu.
What Ferdinand didn't know was that after he applied to the United States for a visit, Xia Yu went to Washington as soon as he heard the news and played golf with Ronald Reagan for two hours...
In the past half month,
the landscape of the American business world has changed a great deal.
And the impact will surely be profound.
First, the Gulf Oil Company incident has come to a complete end.
Gulf Oil Company has been split up, and Gulf Oil and Gas Trust has obtained half of the oil and gas reserves.
In the Gulf Oil & Gas Trust, the parent company Gulf Oil only holds a token one share, which is almost infinitely close to zero.
Exxon Mobil owns 77.4% of the company, effectively dominating it.
Whether or not to fully merge the Gulf Oil & Gas Trust is entirely up to Exxon Mobil.
Meanwhile, Pacific Oil has concentrated all its interests in Gulf Oil.
Its shareholding is as high as 68.2%.
Considering that Gulf Oil remains a listed company, the shareholding is relatively dispersed.
Therefore, the 68.2% shareholding ratio cannot shake Pacific Oil's dominant position.
Now that the international crude oil price has not yet hit rock bottom, Gulf Oil's stock price is still relatively high.
Therefore, Xia Yu does not plan to privatise Gulf Oil for the time being and will continue to wait and see.
The battle at J.P. Morgan Trust in New York has greatly reduced the prestige of the Rockefeller family.
The Articles of Association of the J.P. Morgan Trust Company in New York stipulate that the chairman and vice-chairman shall be elected by the board of directors by a majority of all directors.
It is not known just how much benefit John Chris Morgan promised.
Anyway, after the re-election of the board of directors, the positions of the former chairman David Rockefeller and vice-chairman John Chris Morgan were reversed.
And after John Chris Morgan became chairman, he showed no mercy to David Rockefeller.
The first proposal submitted to the board of directors was to temporarily suspend trading in the company's shares and change the company name to J.P. Morgan Bank Company, and the corresponding stock market code would also be changed.
This proposal was passed by more than half of the votes at the board meeting.
There were rumours about this board meeting of the Morgan Trust Company in New York, some said that David Rockefeller was furious on the spot, some said that David Rockefeller slammed the door and left, and some said that John Chris Morgan laughed wildly in the meeting...
Anyway, no matter what is being rumoured outside.
The Rockefeller consortium has lost control of the fifth largest bank in the United States.
This will have a significant impact on the entire Rockefeller consortium's power structure.
The renamed J.P. Morgan Chase & Co. has directorships in many giant companies.
These directors, previously sent by David Rockefeller, are employees of the Rockefeller consortium.
Once John Chris Morgan replaced these people with his own cronies, the struggle between the two major consortia would no longer be limited to J.P. Morgan Chase, and the war would spread everywhere.
At that time, it would be a head-on confrontation in multiple fields, and even a dog's brain would fight.
Therefore, the leaders of many forces are gathering think tanks to study this matter, to see how to avoid being affected and whether there is a chance to benefit from it like those directors in J.P. Morgan Chase.
In short, the storm within the United States has intensified.
However, this is not of great concern to Xia Yu for the time being.
Due to its short history, the Polaris Consortium has not yet penetrated deeply into the old financial groups in the United States, and is still in the process of accumulating strength.
If it wants to do this, it might as well go after the Cleveland Consortium.
However, at this time, the Polaris Consortium's acquisition of equity in various targets has become difficult.
Basically, all the shares that can be taken have been taken, and the remaining ones are basically hard nuts to crack.
At this point, it was necessary to adjust the direction of the attack.
Ten birds in the forest are not as good as one in the hand. It was time to show the Cleveland Consortium who was boss!
Therefore, after reporting to Xia Yu and receiving a positive response,
Peter Lynch, the president of Polaris Capital, arrived in Cleveland, Ohio, with several trusted aides, including Yalman Simmons.
After arriving in Cleveland, Peter Lynch met with the team from the Mellon family.
The Mellon family team was led by James Mellon, the outgoing chairman of Gulf Oil.
'Mr. Lynch, it's an honour to meet you. I'm James Mellon.'
'Mr. Mellon, it's an honour to meet you too.'
'Hello, Mr. Simmons.'
'...'
Both sides were allies, and they had come to jointly pressure the Cleveland Consortium. Naturally, they were all smiling after the meeting.
'Mr. Mellon, let's go. It looks like those people are getting impatient,'
Peter Lynch glanced at Douglas MacArthur and the others, who had already come out of the door, and said to James Mellon with a smile:
'That's fine, let's go together.'
After saying this, the group walked towards Douglas MacArthur and the others.
The atmosphere when meeting with the several families of the Cleveland Consortium was not good, and it could even be described as very cold.
After a few stiff handshakes and a few words, they entered the negotiation room.
The Polaris Capital Consortium and the Mellon Consortium sat on one side, while the Cleveland Consortium sat on the opposite side.
Both sides were enemies, and they were only sitting together because of their interests.
Therefore, after taking their seats, they didn't bother with any excessive formalities and went straight to the point.
'Mr. Maser, Mr. Hanna, Mr. Humphrey and Mr. Eaton.'
'Before coming here today, our side and the Mellon family have already reached an agreement.'
'Whether we fight or make peace, it doesn't matter to us, it depends on your choice.'
'You started the war, and we have nothing to lose by continuing it.'
'The biggest beneficiary of our three parties being able to sit down and talk today is your Cleveland consortium. We hope that you can show sincerity, otherwise, if this continues, we don't know what it will turn into.'
After Peter Lynch finished speaking, James Mellon echoed, 'Mr. Lynch's attitude is also our attitude.'
'In fact, within our family, only just over half of us agree with the idea of negotiating with you. With tens of billions of dollars in our hands, we are completely confident.'
These words were full of menace.
Douglas MacArthur and Reginald Hanna and the others could hear their veins pulsing, but they dared not react.
The situation of the Mellon family and the Mellon Financial Corporation was actually clear to the entire top of the United States.
As the strength of the Mellon Financial Corporation shrank and it completed its control of the financial core, the Mellon Financial Corporation's capital flow absolutely skyrocketed.
There may be an exaggeration of tens of billions of dollars, but Douglas Master and others had no doubt that the Mellon Financial Corporation's cash flow would be less than 15 billion U.S. dollars.
This amount alone was enough to toss the Cleveland Financial Corporation.
However, in negotiations, it is very dangerous to completely lose momentum.
Douglas MacArthur therefore said with a straight face:
"Mr. Lynch, Mr. Mellon, you don't need to deliberately scare us.'
'The Mellon Consortium can survive by cutting off its tail, and we can do the same.'
'Just because we haven't reached this point doesn't mean we don't have the courage to do it!'
'Of course we also hope to sit down and rely on negotiations to resolve our grievances, but if it goes beyond our bottom line, then we would rather completely turn to the Rockefeller Consortium, even if it means becoming a complete vassal!'
Peter Lynch sneered: 'If that's what you choose, then we really don't care. We can also sell everything we have to the Morgan consortium in exchange for other benefits.'
'I think John Chris Morgan will definitely be willing to take over.'
'It's just that at that time, I don't know if the Cleveland consortium will be the same as the previous Chicago consortium...'
Reginald Hanna, who was a bit short-tempered, was provoked and flushed.
But Peter Lynch did not give him the opportunity to lose his temper.
He said directly, 'Alright, let's not say anything meaningless.'
'These things are what we need.'
'And these are what you want.'
'Meet our demands, and we won't bother the Cleveland Consortium anymore, you can go clean up the others.'
'This is our list from the Mellon Consortium.' James Mellon also threw out the list.
When the lists from both sides reached Douglas Master and the others, they glanced at them briefly, and the expressions on their faces became very ugly.
They had never imagined that the enemy would have obtained such a large stake in the core companies.
In particular, the Polaris Consortium, which had acted first, had too many chips in its hands.
For example, it had a 12.1% stake in the Cleveland Trust Company, an 11.2% stake in the Cleveland National City Bank, a 22.3% stake in the American Financial Group Co., Ltd., a 19.4% stake in the Kocai International Group, and a 17.6% stake in the Wusan Bank Corporation, etc.
Five core financial companies have been surprisingly acquired by the other party with so many shares.
I don't know how much the Polaris Consortium paid to be able to grab so many shares ahead of them!
If these shares are in the hands of the Polaris Consortium, it is completely like a lump in the throat, and you have to be on guard at all times!
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