Chapter 224 Stabilizing the Military Morale
On September 10, Liu Shishi attended the 70th birthday party of Song Ci's grandfather and took the opportunity to formally get to know her boyfriend's mother's relatives.
After resting at home for half a day, he hurriedly packed his bags and rushed to Hengdian on the afternoon of the 11th, returning to the crew of "Chinese Paladin III" to complete the filming of the final scenes.
The seemingly ordinary September was the beginning of the darkest period in global economic history, and financial markets in various countries were shrouded in an unprecedented chill.
As the US subprime mortgage crisis worsens, the world economic situation has taken a sharp turn for the worse, and the financial crisis has evolved from a local problem into a global disaster.
In mid-September, a piece of tragic news came from Wall Street that shocked the whole world. Lehman Brothers, the world's top investment bank, declared bankruptcy, and the global market fell into extreme panic in an instant.
This investment banking giant with a glorious 158-year history, which once played an important role in the global financial world, collapsed under the pressure of the bursting of the real estate bubble and the surge in subprime loan bad debts.
The collapse of Lehman Brothers was like the first domino, quickly triggering a series of chain reactions.
Investor confidence collapsed, credit markets froze, liquidity dried up, and interbank lending almost ground to a halt because no financial institution could be sure the other party was safe.
The situation in the stock market was even more dire, with share prices plummeting and all major global stock indices being affected.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite have all experienced dramatic swings and plunges.
European and Asian stock markets also failed to escape the impact of the storm. The stock exchange halls were filled with despair and anxiety, and people jumped from the rooftops every day.
Faced with such a severe situation, governments and central banks around the world took emergency action, trying to stabilize the market by injecting funds, lowering interest rates and other measures, but with little success in the short term.
Media headlines are filled with news about economic recession, asset write-downs and financial rescue plans, while public trust in the financial system has dropped to a freezing point, as if the entire society is in a crisis of confidence.
As the darkest hour of the global economy approaches, Internet companies are not immune.
Many domestic Internet companies such as Penguin, Alibaba, and Baidu were also forced to announce large-scale layoffs, cut spending, and try every means to survive the bottomless financial crisis.
For a time, the Internet industry was in turmoil and employees were in a panic, fearing that they would be laid off the next moment while writing code one second.
Even IT men who have never been interested in finance are worried about the huge pressure of unemployment.
The entire Internet workplace is shrouded in a haze, and the positive and enterprising work atmosphere of the past is gone.
The headquarters of Tengda Group, a building that is usually full of busyness and vitality, is now filled with an atmosphere of uneasiness.
On the internal forum, employees were discussing things and had no intention of working at all.
"Brothers, Xin Lang just announced a 40% layoff and a 30% salary cut. It's so scary. I'm so panicked! Who said before that our Internet industry is high-tech and has nothing to do with the financial crisis? That's a slap in the face."
"Xinlang's layoffs were not expected. All of their businesses have been squeezed by us and there is no room for survival. Even if there was no financial crisis, layoffs would have been a matter of time."
"Even if Xin Lang is an exception, what about Penguin, Alibaba, Baidu... these big companies? It seems that at present, except for us, other companies have either laid off employees or reduced salaries. I think our Tenda is also in trouble."
"No, I think the company is running fine, and there's no plan to cut costs. I asked the finance girl about it, and she told me that the company is very rich now, so there's no need to panic."
"I hope so! But to be honest, things are really bad out there right now. Countless companies are closing down and going bankrupt, and the job market is full of unemployed people."
"Yes, I never read financial news before, but I browsed the Internet these past two days to check the economic situation. My goodness, yesterday the largest savings and loan bank in the United States, Washington Mutual, went bankrupt. Its status in the United States is equivalent to the Big Four Banks in China. It is unimaginable that a bank of this size could go bankrupt."
"I also saw this news. This is the largest bank failure in the history of the United States. Countless depositors lost all their money. The financial crisis is too brutal."
"Brothers, work hard. It's especially important to demonstrate your own value at times like this. I will come to the company to work overtime tomorrow and the day after tomorrow. If you work harder, you may be able to keep your job."
"I was thinking the same thing. Let's work overtime together tomorrow. It's a sad shed of tears for the workers."
"Hey, I hope the group's top management can come out and say a few words, even if it's bad news about layoffs or salary cuts. It's better to have a definite answer than to be on tenterhooks like this. I've been so anxious these past few days that I can't sleep."
In the chairman's office on the top floor of the building, Song Ci was sitting on the sofa, talking on the other side of the ocean using a satellite encrypted phone.
In fluent English, he spoke in a deep voice: "Mr. Paulson, how are you?"
A vigilant voice came from the other end of the phone: "Who are you?"
Song Ci chuckled: "Mr. Paulson, you may not remember my old friend, but you will not forget my 3.3 billion US dollars."
When John Paulson heard this, he immediately recalled that handsome face with an oriental charm, and suddenly realized: "It turned out to be Mr. Song! What's the matter with contacting me so late?"
"Sorry, I forgot there is a time difference! But I have something important to tell you today." Song Ci's expression was serious, no longer as relaxed as before.
"Please?"
"Mr. Paulson, it's almost time to close my fund positions and cash in the profits!"
"Mr. Song, believe me, the stock market still has room to fall. If you close your positions now, you will lose a lot. With your financial level, you will see that this is a once-in-a-lifetime short-selling feast."
John Paulson spoke quickly and earnestly, trying to influence Song Ci's decision with his own judgment.
Although he hadn't seen her for more than half a year, he still remembered Song Ci vividly, and not just because of that face.
In addition, the other party has an unparalleled and accurate judgment of the financial market. At this moment, I find it a little hard to believe that the other party would say such a totally unbelievable thing.
Song Ci's eyes flashed, and he reminded calmly: "Of course I know that the stock market will continue to fall, but don't forget that in this economic situation, governments will definitely not sit idly by.
I estimate that next month, all countries will issue relevant laws to prohibit short selling, so it doesn’t make much sense to close positions now or continue to wait for the opportunity. "
"This!" John Paulson was speechless for a moment, and tightened his grip on the phone. He had only considered the dynamics of the financial market, but ignored the possibility that the government might take administrative measures.
After a brief silence and thought, I had to admit that Song Ci was right.
In order to stabilize the situation, governments around the world will never allow investors to short sell and plunder national wealth, and will definitely take coercive measures.
With a sigh, he had to compromise with reality: "You are right, I will gradually close my positions in the next few days!"
"Very good, let's use October 1 as the boundary and close the position from that day! I will come to Wall Street in a while and we will talk again."
"Ok, no problem."
After reaching an agreement, Song Ci couldn't help but be curious: "Mr. Paulson, after deducting management fees, commissions, and taxes from this short sale, how much can I earn?"
There was silence on the other end of the phone. The other party seemed to be calculating the profits. After a while, an astonished voice came: "Congratulations, I have made a preliminary calculation, and it is definitely no less than 20 billion US dollars."
"20 billion US dollars!" Even though Song Ci was an expert in cultivating his Qi, his hands were shaking with excitement at this moment!
After taking a few deep breaths to calm down his excitement, Song Ci said excitedly, "Congratulations! Mr. Paulson, you should have made a lot of money too."
"Thanks to Mr. Song!" John Paulson chuckled, revealing a hint of pride and satisfaction.
Although they were separated by a vast ocean, the two of them had a tacit understanding that they both made a fortune from this feast.
After hanging up the phone, Song Ci was ecstatic. He waved his fists and paced back and forth in the office excitedly.
He was planning how to use the huge sum of money that was about to come. The two companies under his name, Shanhai Capital and Zhongxin Investment, could finally start operating after the overseas funds arrived.
Today, the share prices of major listed companies around the world have fallen to their lowest points. If you buy at the bottom now and survive the financial crisis, your returns will at least multiply several times.
Only with money can you realize your ambitions one by one.
Just as he was immersed in his beautiful imagination, he heard a knock on the door. Song Ci responded with full energy: "Come in!"
Wang Jing stepped on high heels and came to Song Ci as soon as she entered the office. She said straight to the point: "Mr. Song, there is a financial crisis now, and all walks of life are laying off employees and cutting salaries.
The employees were so worried that they couldn’t concentrate on their work. Even the HR director came to me and asked me quietly if the company had any plans to lay off employees. If so, he could prepare in advance.”
Song Ci was completely confused: "This is totally incomprehensible. What does other companies' layoffs have to do with us? Why would they lay off employees when the company is operating normally? What is the HR director doing? Is he just bored and has nothing better to do?"
Wang Jing secretly breathed a sigh of relief. It seemed that the chairman had no intention of laying off employees.
"Penguin, Alibaba, and Baidu have all started laying off employees, and the people below are worried about losing their jobs and are on edge all day. Since you, Mr. Song, don't have such a plan, I will come out to clarify and stabilize the morale of the troops."
Song Ci nodded slightly when she heard this: "So that's how it is. The comrades below don't know the inside story, so they are inevitably anxious. It's my negligence. Sister Jing, you go and do your work. I'll handle this matter!"
"Mr. Song, it would be best if you are willing to come forward!"
After watching Wang Jing leave the office, Song Ci quickly dialed a short number on the landline and called the Chief Financial Officer Chen An, and instructed: "Mr. Chen, please come to my place."
It was 5pm, time to get off work, but Tenda employees were all on pins and needles, and few dared to clock out and leave.
I was afraid that if I left a little early, my boss would remember it and I would be notified of my resignation the next day.
Just when everyone was worried about gains and losses and lamenting that they were about to get through the day, Tenda’s internal forum exploded.
"Great news! Not only will the company not lay off employees, it will also raise salaries!"
"Where did you get the news? Tell me in detail!"
"Weibo, check out the latest updates from the chairman. No wonder the girl from the finance department said the company is so rich, our Tengda is so damn rich!"
Upon hearing the news, everyone, with curiosity and anticipation, hurriedly opened the web page to log into their accounts and checked Song Ci's Weibo homepage anxiously.
The content of Song Ci's post was actually very concise and clear. He directly informed all employees that the company had no plans to lay off employees and promised a 10% salary increase starting next year.
At the same time, due to the rapid growth of its business, Tengda Group will have to conduct a large number of recruitments in the future.
This piece of news is nothing special. Netizens can only sigh that Tenda is a conscientious company. It did not lay off employees but also increased salaries in such a bad environment.
Or they could praise Boss Song for his foresight and good leadership, which have led the Tengda Group to prosperity.
However, the two pictures below this notice are extremely explosive. These two pictures are two bank deposit certificates of Tengda Group.
One was from ICBC, with a deposit amount of over 1.5 billion. The other was from Huaguo Bank, with an astonishing amount of 2.3 billion in the account.
The comment section of Song Ci has already been completely boiling.
"Oh my god, 3.8 billion. Tengda Group is amazing. This amount of cash reserves is simply incredible."
"This is really valuable. If I had this much money, I would never be able to spend it all in my lifetime."
. . . . . .
"It's the first time I've seen a deposit slip of billions of dollars. It's shocking. It's worthy of being the largest Internet company in China."
"Can anyone tell me what the salary is like working at Tengda? I want to work for Mr. Song."
At this moment, Tenda's employees, seeing the chairman's notice and the huge amount of 3.8 billion in liquid funds in the company's account, no longer had any doubts about layoffs and salary cuts.
In the company's internal forum, the previous atmosphere of nervousness and anxiety has been swept away, replaced by laughter, joy and relaxation among employees.
"I didn't expect the company to have such an exaggerated cash reserve. I feel relieved now."
"Looking back now, the chairman had anticipated today's situation when he urged for payment of accounts receivable at the beginning of the year."
"It's hard to say. Our chairman always takes three steps ahead and plans for the long term."
"Good news. The finance girl told me that the group's performance has skyrocketed this year, and the year-end bonus will also increase significantly compared to last year."
"The Weibo and mobile game departments definitely took the most, as the number of users and revenue has grown so rapidly."
"Shit, why don't I know the girl from finance?"
"It's time to get off work now, let's go together."
"Let's go, get off work. I have to have a good meal to celebrate today. MD, I was scared to death during this period. I couldn't eat or sleep well every day. I can finally relax.
The internal situation of Tengda Group was completely stabilized because of Song Ci's Weibo announcement. This news quickly became a hot search, and its huge influence has just begun to spread and ferment.
In other Internet companies, many employees who considered themselves to be skilled and experienced quickly took to Weibo after receiving the news.
When I saw that Tengda Company was not only not laying off employees but was also recruiting new employees, I immediately became interested. Instead of waiting in fear for being laid off, it would be better to quit early and switch to Tengda for development.
Tenda's salary is one of the best in the entire industry, and it will continue to increase salaries next year, which means it has a bright future no matter how you look at it.
(End of this chapter)
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