Chapter 1171

After a while, Kameda Zhengxiong came back smiling. In fact, as long as he is interviewed, BusinessWeek is very satisfied. Of course, it would be better if Feng Yu could receive an exclusive interview.

Now, although Feng Yu didn't receive an exclusive interview, Kameda Zhengxiong said he wanted to sell BusinessWeek an exclusive news, which made BusinessWeek think of Enron soon after bankruptcy.

The shareholders of BusinessWeek, but there are many rich people, they know how much profit such a news can bring.

So I made an appointment right away. Tomorrow, their people will fly to San Francisco to make an exclusive interview with Zhengxiong Kuda. If it wasn't for Zhengxiong kuota that they had something to do today, they would like to come today.

Knowing that yingweida's business has been solved, Huang Jiansen has not stayed much, and is busy again. The company is in the ascendant period. We can't spare a moment. In the early stage of the company's development, it will be easier in the future. The company is preparing to launch acceleration processor.

Feng Yu, Kameda Zhengxiong and Ralph were left in the office. Ralph made three cups of tea. With Feng Yu for a long time, he also felt the taste bitter, but the green tea with endless aftertaste was very good.

Kamata is an island people, but also very like to drink tea.

After Feng Yuxuan took a sip of tea, he nodded with satisfaction. This tea It's very thirst quenching!

In fact, he was a little worried, but he could only bear to drink tea with Feng Yu.

Feng Yu put down his teacup and asked, "turtle field, WorldCom company, do you know?"

"WorldCom? I know. The second largest communications company in the United States, next only to at & T. at its peak last year, WorldCom's peak share price exceeded 180 billion US dollars. But now, after the Internet bubble, it seems to be only about seventy billion dollars. Boss, isn't that the company you mentioned that makes fake accounts WorldCom

Kameda Zhengxiong said that he thought it was wrong, shouldn't it? WorldCom is a bigger company than Enron, and the world's largest Internet service provider. If there is a fake account scandal, the share price is not the same as Enron, falling to the bottom. Then if no one buys, bankruptcy is the only way.

"Yes, WorldCom. The development of WorldCom is actually very interesting. If you take a close look at WorldCom's report, we can see that WorldCom is a company that is expanding rapidly in the Internet bubble. How the company develops is through M & A. The capital of M & A is not earned by them, but by issuing stocks and financing. That is to say, WorldCom uses investors' money to expand... "

Each company of WorldCom's merger and acquisition pays little cash, and all of them are controlled through equity exchange, either through their original share exchange, or through the exchange of additional shares, so as to obtain enough control rights. Even the vast majority of the cash they paid was raised through the issuance of new shares.

The advantage of this is that the manager's management pressure is very light, with low cost, blind expansion. This kind of behavior, in essence, is a kind of behavior of encircling money, which is difficult to bring benefits to the development of enterprises. But if the scale of his M & A is large enough to achieve monopoly, then he can make profits.

Under normal circumstances, the issuance of additional shares is equivalent to mixing water with wine. Ordinary investors will sell their shares for cash to avoid risks. But WorldCom has always been "performing well" in the stock market. There are a large number of bankers standing by. Instead of giving up WorldCom's shares, shareholders continue to enter the stock market, which makes WorldCom's share price further boastful.

As a result, in a few years, WorldCom has changed from a company with more than one billion dollars to a company with more than 180 billion dollars. Feng Yu remembers that in his previous life, the peak stock price of WorldCom was close to $200 billion. But in this world, because Microsoft stock was sold earlier by Feng Yu, NASDAQ did not reach the peak of the previous life, which also led to the market value of WorldCom, which was not as high as the previous life.

However, the advantage is that although the stock price of WorldCom has fallen, it has not fallen as fast as in the past.

although this network bubble is more serious, but the WorldCom CEO's original words, let stock investors strengthen confidence.

Our goal is not to gain market share, or globalization. Our goal is to become No.1 in Wall Street stocks!

This is the sentence, so that the stock of WorldCom has investors to trust the market.

But the turning point came at the end of last year.

At the end of last year, WorldCom wanted to acquire sprint communication company, the third largest communication company in the United States, with an amount of nearly $130 billion!

This is the highest M & A amount in history. Once successful, WorldCom will surpass at & T and become the world's largest communication company.

Unfortunately, the M & A case has been sniped by the antitrust agencies of Europe and the United States. They believe that this will result in de facto monopoly. All the companies suspected of monopoly want to be forced to split up, let alone the one who wants to monopolize after merger.

After the miscarriage of the merger, WorldCom lost its vitality. As mentioned above, WorldCom is to maintain the stock price through continuous M & A. If they succeed, then they will become the first in the industry, and they will naturally obtain extremely high profits.But merger failure, the disadvantages of the previous merger and acquisition investment are reflected. If we do not merge, we cannot issue new shares. If we do not issue new shares, WorldCom will not survive.

In the past, when WorldCom acquired, there were high debts, which can be reflected in a group of data. There were more than 50 banks that lent more than 100 million US dollars to WorldCom. And WorldCom is in touch to continue lending. They discussed with some banks again, and planned to find 25 banks again, with loans of more than 2.5 billion US dollars.

Without loans, they would not be able to operate. At this time, the debt ratio of the company has been extremely high. But those banks had to lend to him, otherwise those loans would not be repaid.

At this time, in order to maintain the stock price and continue to attract investors, they have to take the risk to falsely increase profits through accounting "tips", thus creating a false impression that the company is still making profits.

But WorldCom is different from Enron in that the amount of fake accounts of WorldCom is higher than that of Enron for many years. No way, WorldCom's market value is much higher than Enron's, and there are many expenditures.

Feng Yu said this to Rda Jungxiong, and he received Ralph's secret investigation from Ralph.

"Here, this is the evidence."

"Boss, how do you think that WorldCom may make false financial statements?"

Feng Yu pointed out the column of financial audit: "look carefully, the audit company invited by WorldCom is Enron's audit company!"

…… (to be continued. )