Chapter 908 Grabbing Projects
Xu Chen stood beside Xu Yi, carefully observing his expression.
Xu Yi frowned, his voice low, hoarse, and sinister: "Bo Jinyan, do you know how many projects you've taken from our family recently?"
"I've been at Lu's Bank lately and haven't been paying much attention to these things." Xu Chen genuinely hadn't been focusing on these matters recently; his attention hadn't been on investment projects. "What's wrong?"
Xu Yi's heart sank: "Bo Jinyan has taken two-thirds of all the projects our family has invested in in the United States. As for the remaining third, either the project managers have run away, or they want us to increase our investment."
“If I don’t agree to increase investment, I’ll run off to Bo Jinyan’s side.”
Bo Jinyan's situation is different from that of the Xu family.
Bo Jinyan is basically here on a business trip; he's the one who gets paid.
The Xu family, as investors, were the ones who provided the money.
Moreover, they have to bear all the profits and losses themselves, and the risks and returns are not proportional, which has led to the Xu family's recent cash flow problems.
If things continue like this, all the hard work he has put in during his life in America could very well be for naught!
What will he have left to fight Bo Jinyan then?
"What does it mean to run off to Bo Jinyan's side? Can a project manager really just run away?" Xu Chen still didn't understand the implications: "Dad, if they dare to run away, we can sue them for breach of contract!"
"When they abscond, it's considered a breach of contract, and a lawsuit against them is almost always successful!"
Perhaps it's because he hasn't actually made any investments.
He felt that the situation was not difficult to resolve. Everything was done in accordance with the contract. If the other party breached the contract, he would take legal action against them. What was so difficult about that?
Upon hearing this, Xu Yi retorted irritably, "Breach of contract? They want us to make additional investments. There's no breach of contract, so how can they sue us?"
"Moreover, if this matter isn't handled properly, our Xu family's cash flow will be in trouble." Xu Yi reminded him, "If our family's finances run into problems, we'll go bankrupt. Do you want our family to go bankrupt?"
Bankruptcy?
Upon hearing this, Xu Chen was almost completely stunned: "Dad, how did it come to bankruptcy? Didn't our family invest in many projects? Even if my cousin took most of it, there's still a small portion left. We can't have no return at all, can we?"
Investment is about the rate of return. Some projects are long-term investments, and the return on investment can take years. It's impossible to recoup the investment in a short period of time.
He simply couldn't believe that his cousin could snatch all these great projects away.
He was a complete stranger in New York, so where did he get the connections to do all this?
“Those returns can’t be collected in a short time!” This is what’s giving Xu Yi the biggest headache: “Xu Chen, you have a good relationship with Nan Chu, do you think you can get some more loans from Lu’s Bank recently?”
“The Lu family is related to our Xu family by marriage. Even if your relationship deteriorates to a freezing point, Lu Jinan should not ignore it.”
Xu Chen felt that he was making things difficult for himself: "Dad! You know what happened a few days ago. The scandal of my affair has just subsided and the rumors have just died down. And you want me to borrow money from the Lu family?"
"Let's not even talk about whether they'll lend the money or not. Even if they could, they'd need collateral, right? What can we offer as collateral right now?"
We can't exactly use Lu's Bank's shares as collateral, can we?
They don't have many assets left to mortgage. If they use their shares as collateral, and then can't repay the loan, they will become just another ordinary person at Lu's Bank!
They have no status anymore!
The consequences are comparable to bankruptcy!
“I have some properties in California. Go and sell them off, and get some cash from Lu's Bank as soon as possible.” Xu Yi had no other choice. “Remember, you absolutely cannot let anyone find out, understand?”
If this gets out, other projects will also be affected.
Xu Chen was shocked to hear that they had to sell the house: "Dad, is this all the assets our family has left? A mortgage loan is being used to sell the house? What's going on? Why has our cash flow become so low?"
"Isn't this all because of you? Have you forgotten how much money I had to pay Bo Jinyan in compensation for your previous debts?!" Xu Yi became furious upon hearing this: "Go and deal with it now! If you don't handle it well, don't come back to see me!"
His urging made Xu Chen lower his head and obediently go out to handle the matter.
Watching his departing figure, Xu Yi couldn't help but sigh, "Son, when will you be able to shoulder great responsibilities?"
If things continue like this, let alone being able to compare with Bo Jinyan.
Even compared to Lu Nanchu, whose career is booming now, she is still a whole step behind!
How could someone like him be worthy of Nan Chu, the eldest daughter of the Lu family?
What can we use to fight Bo Jinyan?
...
Meanwhile, at the Central Park Apartments.
Bo Jinyan sat in the living room, legs crossed, listening to Zhang Ye report on several investment projects during the video conference. The corners of his lips curled up in an uncontrollable smile, showing just how happy he was.
"President Bo, so far, apart from some long-term internet projects, Mr. Xu Yi's other artificial intelligence, biotechnology research and development, and wind power projects have basically all come to us."
A tablet computer was set up in front of Bo Jinyan, and Zhang Ye reported to him through the screen: "Very good. Report these projects to the investment management department and tell them to pay attention to the project's progress. Under no circumstances should my uncle be able to buy them back again, understand?"
"Yes, I understand."
Bo Jinyan then gave him some other points to note before ending the video conference.
"Is it over?" Sang Ruo asked after he ended the video conference.
Bo Jinyan gave a light "hmm": "Yes, I've managed to acquire most of the promising and profitable projects that Xu Yi had in his hands. Currently, he should only have those projects with long investment periods and low returns on investment left."
"I believe that soon the Xu family's cash flow will run into problems, and they will start to experience frequent cash flow difficulties."
"So fast?" Sang Ruo was surprised by his efficiency. "So, if the Xu family can't come up with the funds to deal with this, they'll face a broken cash flow and even bankruptcy? Wouldn't Uncle be worried to death?"
Bo Jinyan wanted this result: "I want this effect. I want him to taste what it's like to be driven to the brink of despair and almost lose his family!"
Who told him to shoot Xiaoruo repeatedly?
This is what happened to him!
“Ayan, don’t have too high expectations.” Sang Ruo felt that things might have changed: “Don’t forget, the Xu family and the Lu family are related by marriage, and Lu’s Bank and the Xu family are related by marriage.”
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