Reinventing the Millennium.
Chapter 802 Technical Adjustments
Chapter 802 Technical Adjustment (Two in One)
HSBC's share price fell?
Hey, why did it fall?
Fang Zhuo, who lives in Silicon Valley, soon received stock news that was regarded as an abnormal signal.
However, HSBC was not included in the scope of observation before, and it was difficult to clearly determine which part of it went wrong for a while.
However, there was a small-scale related news from Kong Yu in New York. A business manager of HSBC jumped off the roof.
This little news did not attract much attention, but it was undoubtedly an alternative proof for Kong Yu, who had always held a pessimistic attitude towards the financial market.
Kong Yu seriously suspects that HSBC may also have a large-scale CDS transaction, or, worse, that the more basic US housing mortgage loan business has gone wrong.
The former may lift the tip of the financial boom, the latter may... make people queue up to the roof.
Fang Zhuo browsed the report from Kong Yu after welcoming the Major Sensor company team to join Yike, and did not give too many comments. Anyway, this year's Spring Festival, Kong Yu and Xu Kedeng probably won't be able to have a holiday.
On the first day after joining the company, Dr. Smith of Major Sensor proposed two solutions for the coding of the front camera, one is multiplexing coding for static environments, and the other is spatial position coding for moving objects.
Simply put, time division and space division multiplexing encoding.
Fang Zhuo didn't understand at all, but he was really shocked.
On the second day, another Dr. Lewis proposed a brand new solution, using sensors to capture the flight time of infrared light from emission to reception, so as to judge and calculate the distance information of objects.
Fang Zhuo didn't understand at all, but he suddenly felt that the money for the acquisition was not wasted.
Yike has arranged a timetable internally, solving the coding solution in February, optimizing the sensor in March, assembling a prototype equipped with a 2-megapixel front camera at the end of March, and continuing to optimize the front camera in the remaining three months of the first half of the year , Android system and mobile phone performance.
On behalf of the R&D center, Xu Kedeng gave a guarantee that Mr. Fang's prototype function at the mobile phone conference in June must last for at least half of the use time.
Fang Zhuo asked after hearing such a promise: "What about the remaining half of the time?"
"Mr. Fang, you should wear looser clothes for the press conference, and put two more mobile phones in your pocket. If you feel that it is not working, quickly change to another unused one." Xu Kedeng gave a sincere suggestion.
Fang Zhuo felt absurd, how many mobile phones can he fit in his pocket?
Of course, put a speech table on the stage, and put ten or eight of them inside. Once you feel that the phone is getting hot and has a tendency to freeze, you can replace it with a new one while drinking water, so as to be safe!
This is also to learn from friends.
In the past two days, Fang Zhuoyou communicated with Schmidt once, and listened to the Apple director talk about more details of the iPhone conference.
For example, Apple engineers hid Wi-Fi signal transmitters under the stage to shorten the distance of wireless signal transmission.
For example, AT&T set up a mobile signal tower on the site, and Apple modified the program on the mobile phone so that no matter whether the signal on site is strong or weak, the signal strength on the screen will be displayed as full.
These are all reliable news that Schmidt did not know that day, and heard one after another later.
Fang Zhuo believes that these are the advantages that Yike mobile phone conference can adopt.
As long as the press conference goes well, we can still strive for half a year to continue optimizing the mobile phone.
On February 2, Fang Zhuo confirmed the progress of the R&D center, Google's support, and the work of the Android system for the last time. Then, he and Yu Hong took a flight back to New York.
That is to say, in New York, Fang Zhuo, who had withdrawn from the state of watching R&D, was interviewed by the reporter of the media "Wall Street Journal" for the first time, and talked about the competitor's mobile phone iPhone.
Of course he won't talk about the news of the price of the $200/300 mobile phone, and instead of belittling the competition, he has given a lot of praise.
Indeed, the iPhone certainly deserves praise.
Fang Zhuo also answered the inquiry about his own products: "It's great, it's great. I think Yike is on the right track in the research and development of mobile phones. I'm looking forward to the press conference all the time."
He smiled and complained: "I even think we should hold a press conference this month, but the R&D team is the kind of stubborn, perfectionist, and excellence guy, you will understand, they have to make a decision. Products that can surprise and praise consumers more.”
"So, we'll probably have a press conference in July or August."
When the Wall Street Journal reporter heard such a time, he immediately asked: "Does this mean that you will hold a press conference after the launch of the Apple mobile phone? Will you set prices based on its sales volume?"
"From a commercial point of view, there are also considerations in this regard. After all, we are also a touch-screen phone." Fang Zhuo revealed the product news, "Also, it will take time for us to pass the FCC review."
FCC is the Federal Communications Commission of the United States. Mobile phone products must be certified by it before they can be sold. This process often takes several months.
The reporter finally asked a question: "Mr. Fang, do you think touch-screen mobile phones have the hope of winning the recognition of consumers?"
Fang Zhuo affirmed without hesitation: "I am absolutely sure of this. Touch-screen mobile phones will soon replace traditional mobile phones."
The reporters at the Wall Street Journal were content.
This information is enough.
However, just as he was about to end the interview, he suddenly remembered the story between Lehman and Yike, and asked with a smile, "Mr. Fang, Lehman's stock price is stable. Do you still think there is a problem with it?"
Fang Zhuo asked back, "Did you know that housing prices in New York are falling?"
The reporter felt slight changes in house prices, but they thought they were normal fluctuations. Besides, even if the fluctuations were larger, how could it have a great impact on Lehman?
He did not continue to communicate with Mr. Fang on this point, and thanked the chairman of Yike for accepting the interview.
As usual, Fang Zhuo also published a similar response through Bloomberg in addition to the Wall Street Journal, which can be regarded as an official statement from Yike on smartphones and its own products.
Yu Hong listened to an interview with the boss, and was not surprised to hear the time of the press conference carefully.
Clearly determine the month of June, but also give the wrong time for July or August.
"Mr. Fang, in addition to Apple and mainstream mobile phones such as Nokia and Sony Ericsson in the current market, we must also consider imitation competition from other manufacturers. After all, Android is open source."
"Although Google is very supportive of us, they would prefer to see this system carried by more manufacturers."
Yu Hong has been thinking about this issue recently.
"The first-mover advantage, the features of the front camera, and the R&D investment that cannot be tricked." Fang Zhuo mentioned this and had to talk about the difficulties encountered now, "Whether the operator can get through is very important to us. .”
"Or, not only for us, but also for Apple, but it has already opened up."
A $500 iPhone and a $200 iPhone are two entirely different concepts.
If T-Mobile can't reach an agreement, Yike will immediately launch a cheap mobile phone plan B, and there is no room for adjustment.
As for the current development, we can only wait and see the situation later.
Now, look at the negotiations between Google and T-Mobile, and look at the brand new prototype that Yike presented at the end of March.
Due to changes in the competition information of the iPhone, Fang Zhuo even shifted the priority of Qualcomm and V vendors, increasing his contact with Texas Instruments.
Qualcomm's chips and foundry contracts, and the user groups of V merchants are all icing on the cake.
The most important thing for Yike mobile phone at present is to have the basic survival competitiveness.
Fang Zhuo plans to come to the United States to meet with T-Mobile after the Spring Festival.
He and Yu Hongyuan had a detailed chat about the status quo, future plans, patent layout of the Yike mobile phone project, and the entry-level chip design of MediaTek and Morningstar. The mobile phone business has a lot to do with it, and the unified cognition of the management is equally important.
"Xiao Yu, when we get rid of the iPhone, you can retire from Yike." Fang Zhuo promised as he finished his last sip of coffee.
Yu Hong has long been used to the boss's full of ideas, but she didn't bother with his statement, and instead thought about it.
She asked the first question: "Do you think Apple's system is very viable?"
The Apple mobile phone has been released, and the relevant information is also inseparable.
It is also a globally sourced component, and what seems most unique is its own system.
Immediately, Yu Hong asked the second question: "Apple also has a long history in chips, can it make a difference in this regard?"
Fang Zhuo liked Yu Hong's keenness very much, and replied with a smile: "We don't know what its real performance is without getting the real phone, but don't put the closed iOS and the open source of Android in the market and say that it is not the case. That is to say, 'user' is a word, but 'user' is a huge group of billions, as long as some of them can accept it, it will naturally have vitality."
"This market can only accommodate a successful company, but those who are self-styled will definitely not make it to the end."
"Time is running out for Nokia."
Yu Hong was thoughtful: "The last time I heard something like this was Sony? You should tell the reporter this."
"Next time, next time." Fang Zhuo said, "There is still a chance."
There is still a chance to talk about Nokia and soon Lehman.
But when Fang Zhuo arrived in New York, after dealing with Yi Ke's affairs, he found Stringer immediately to report his interests.
joke!
It's a big joke!
Sony's mobile phone department wants to find the camera department to get related camera technology, but it can't get it?
joke!
What a big joke!
Mr. Fang, a member of Sony's board of directors, contacted the camera department for technical assistance, which was rejected?
Fang Zhuo made the first joke in front of Stringer.
"Sir, if I hadn't called Ichiro Miyamoto from the mobile phone department, I would never have imagined that Sony would be so rotten internally!"
"This year, oh no, Sony's improvement last year, isn't it all because of your excellent leadership in the US market, Jazz?"
"With so much external competitive pressure, our company still has such internal friction. This is an unforgivable behavior!"
"Whether the Sony company is rotten or continues to be great, it all depends on this internal change!"
Fang Zhuo was very sad.
After all, I, the foreign director, was almost interested. I contacted the camera department in Japan twice, trying to find a team to help Yike Mobile, but I didn’t agree with it. Why is my vision so short-sighted?
If Yike mobile phone develops, will Brother Company be forgotten?
Stringer was also shocked, let alone this kind of thing, it would be ridiculous to just change it to an outsider!
The most important thing is that he has not received any report in this regard at all, and the consumer electronics business is mainly in charge of Kutaragi Ken.
Fang Zhuo also knew Sony's internal power structure, and he had personally witnessed the formation of Sony's new top management.
Stringer and Ken Kutaragi chose to cooperate in order to be in the top position, but the harmony between the two is not so harmonious.
And, Stringer originally wanted to implement more radical layoffs and business line adjustments, but because of the situation, he had to borrow the "Transformation 60" strategic plan formulated by the previous head.
Others don't know these things, so can Director Fang still be unclear?
In particular, Sony's blockbuster product PS3 had many problems last year, and Ken Kutaragi's internal counterfeiting behavior has been criticized internally even after the PS3 gradually improved.
it's time.
Jazz, it's time for a big fight!
Fang Zhuo didn't mention Ken Kutaragi's name at all, and only talked about the tip of the iceberg reflected by the deep gap between the "camera department" and "mobile phone department", and only talked about the reforms implemented by the Sony Group.
Transformation 60 is a strategy proposed by Nobuyuki Idei. Now who should be credited for the recovery of Sony Group?
PS3 counterfeit, TV business is sluggish, Sony's consumer electronics is in its own category, and Sony Ericsson's mobile phone situation was very good last year, but it still suffered such unfair treatment!
Take a look at today's Sony, who owns the world?
What is the role of outside directors or non-executive directors?
Isn't it just to criticize current malpractices from the perspective of a bystander?
Fang Zhuo played his due role as an outside director in front of the head of Sony.
On top of that, Sony's shareholder meeting this year is fast approaching.
The mountain of consumer electronics needs to be moved.
After a long talk, Stringer had to admit that Sony had serious internal problems, and also had to admit that Mr. Fang was extremely responsible.
Today, it is no longer the situation where we had to compromise two years ago.
"Mr. Fang, how do you think to solve the problem of the internal system?" Stringer wanted to refer to the reference.
Fang Zhuo only sincerely gave four words: "There are clear rewards and punishments."
Stringer was deep in thought, who deserves the credit?Who is at fault?
No matter who has merit or demerit, first give Kutaragi Kenji a penalty, and then discuss.
The camera department is of course a fault, and the mobile phone department is of course a credit.
Stringer has the determination to reform in the interest, but still needs to conduct a more detailed internal investigation.
But Fang Zhuo will not participate in this internal management process.
The old jazz was determined to change, and Director Fang left lightly.
It's time to go home for the holidays.
On February 2, Fang Zhuo, Yu Hong and some executives took a flight back to Shanghai.
But while they were in the air, HSBC suddenly issued a shocking announcement, announcing that the North American home loan mortgage business suffered huge losses and wrote down related assets by 108 billion US dollars.
Assets of 108 billion US dollars!
You know, HSBC has been in good business before this, and there is no such trend at all.
For a while, HSBC's stock price plummeted, driving several financial stocks to also decline.
When Fang Zhuo arrived in Shanghai, when he drove to Hang Lung 23, he happened to meet a reporter who wanted to make an appointment for an interview.
The reporter reported the news of HSBC, and also mentioned the decline of Lehman's stock price, and asked Mr. Fang for his opinion.
Fang Zhuo faced the camera, blinked, digested the news, and made a joke: "Oh, HSBC, don't be afraid, it's a technical adjustment."
He said meaningfully: "Lehman, there is not much time left for it."
I drank too much at a party last night, so I hurriedly got up in the morning and returned a chapter in the afternoon.
(End of this chapter)
HSBC's share price fell?
Hey, why did it fall?
Fang Zhuo, who lives in Silicon Valley, soon received stock news that was regarded as an abnormal signal.
However, HSBC was not included in the scope of observation before, and it was difficult to clearly determine which part of it went wrong for a while.
However, there was a small-scale related news from Kong Yu in New York. A business manager of HSBC jumped off the roof.
This little news did not attract much attention, but it was undoubtedly an alternative proof for Kong Yu, who had always held a pessimistic attitude towards the financial market.
Kong Yu seriously suspects that HSBC may also have a large-scale CDS transaction, or, worse, that the more basic US housing mortgage loan business has gone wrong.
The former may lift the tip of the financial boom, the latter may... make people queue up to the roof.
Fang Zhuo browsed the report from Kong Yu after welcoming the Major Sensor company team to join Yike, and did not give too many comments. Anyway, this year's Spring Festival, Kong Yu and Xu Kedeng probably won't be able to have a holiday.
On the first day after joining the company, Dr. Smith of Major Sensor proposed two solutions for the coding of the front camera, one is multiplexing coding for static environments, and the other is spatial position coding for moving objects.
Simply put, time division and space division multiplexing encoding.
Fang Zhuo didn't understand at all, but he was really shocked.
On the second day, another Dr. Lewis proposed a brand new solution, using sensors to capture the flight time of infrared light from emission to reception, so as to judge and calculate the distance information of objects.
Fang Zhuo didn't understand at all, but he suddenly felt that the money for the acquisition was not wasted.
Yike has arranged a timetable internally, solving the coding solution in February, optimizing the sensor in March, assembling a prototype equipped with a 2-megapixel front camera at the end of March, and continuing to optimize the front camera in the remaining three months of the first half of the year , Android system and mobile phone performance.
On behalf of the R&D center, Xu Kedeng gave a guarantee that Mr. Fang's prototype function at the mobile phone conference in June must last for at least half of the use time.
Fang Zhuo asked after hearing such a promise: "What about the remaining half of the time?"
"Mr. Fang, you should wear looser clothes for the press conference, and put two more mobile phones in your pocket. If you feel that it is not working, quickly change to another unused one." Xu Kedeng gave a sincere suggestion.
Fang Zhuo felt absurd, how many mobile phones can he fit in his pocket?
Of course, put a speech table on the stage, and put ten or eight of them inside. Once you feel that the phone is getting hot and has a tendency to freeze, you can replace it with a new one while drinking water, so as to be safe!
This is also to learn from friends.
In the past two days, Fang Zhuoyou communicated with Schmidt once, and listened to the Apple director talk about more details of the iPhone conference.
For example, Apple engineers hid Wi-Fi signal transmitters under the stage to shorten the distance of wireless signal transmission.
For example, AT&T set up a mobile signal tower on the site, and Apple modified the program on the mobile phone so that no matter whether the signal on site is strong or weak, the signal strength on the screen will be displayed as full.
These are all reliable news that Schmidt did not know that day, and heard one after another later.
Fang Zhuo believes that these are the advantages that Yike mobile phone conference can adopt.
As long as the press conference goes well, we can still strive for half a year to continue optimizing the mobile phone.
On February 2, Fang Zhuo confirmed the progress of the R&D center, Google's support, and the work of the Android system for the last time. Then, he and Yu Hong took a flight back to New York.
That is to say, in New York, Fang Zhuo, who had withdrawn from the state of watching R&D, was interviewed by the reporter of the media "Wall Street Journal" for the first time, and talked about the competitor's mobile phone iPhone.
Of course he won't talk about the news of the price of the $200/300 mobile phone, and instead of belittling the competition, he has given a lot of praise.
Indeed, the iPhone certainly deserves praise.
Fang Zhuo also answered the inquiry about his own products: "It's great, it's great. I think Yike is on the right track in the research and development of mobile phones. I'm looking forward to the press conference all the time."
He smiled and complained: "I even think we should hold a press conference this month, but the R&D team is the kind of stubborn, perfectionist, and excellence guy, you will understand, they have to make a decision. Products that can surprise and praise consumers more.”
"So, we'll probably have a press conference in July or August."
When the Wall Street Journal reporter heard such a time, he immediately asked: "Does this mean that you will hold a press conference after the launch of the Apple mobile phone? Will you set prices based on its sales volume?"
"From a commercial point of view, there are also considerations in this regard. After all, we are also a touch-screen phone." Fang Zhuo revealed the product news, "Also, it will take time for us to pass the FCC review."
FCC is the Federal Communications Commission of the United States. Mobile phone products must be certified by it before they can be sold. This process often takes several months.
The reporter finally asked a question: "Mr. Fang, do you think touch-screen mobile phones have the hope of winning the recognition of consumers?"
Fang Zhuo affirmed without hesitation: "I am absolutely sure of this. Touch-screen mobile phones will soon replace traditional mobile phones."
The reporters at the Wall Street Journal were content.
This information is enough.
However, just as he was about to end the interview, he suddenly remembered the story between Lehman and Yike, and asked with a smile, "Mr. Fang, Lehman's stock price is stable. Do you still think there is a problem with it?"
Fang Zhuo asked back, "Did you know that housing prices in New York are falling?"
The reporter felt slight changes in house prices, but they thought they were normal fluctuations. Besides, even if the fluctuations were larger, how could it have a great impact on Lehman?
He did not continue to communicate with Mr. Fang on this point, and thanked the chairman of Yike for accepting the interview.
As usual, Fang Zhuo also published a similar response through Bloomberg in addition to the Wall Street Journal, which can be regarded as an official statement from Yike on smartphones and its own products.
Yu Hong listened to an interview with the boss, and was not surprised to hear the time of the press conference carefully.
Clearly determine the month of June, but also give the wrong time for July or August.
"Mr. Fang, in addition to Apple and mainstream mobile phones such as Nokia and Sony Ericsson in the current market, we must also consider imitation competition from other manufacturers. After all, Android is open source."
"Although Google is very supportive of us, they would prefer to see this system carried by more manufacturers."
Yu Hong has been thinking about this issue recently.
"The first-mover advantage, the features of the front camera, and the R&D investment that cannot be tricked." Fang Zhuo mentioned this and had to talk about the difficulties encountered now, "Whether the operator can get through is very important to us. .”
"Or, not only for us, but also for Apple, but it has already opened up."
A $500 iPhone and a $200 iPhone are two entirely different concepts.
If T-Mobile can't reach an agreement, Yike will immediately launch a cheap mobile phone plan B, and there is no room for adjustment.
As for the current development, we can only wait and see the situation later.
Now, look at the negotiations between Google and T-Mobile, and look at the brand new prototype that Yike presented at the end of March.
Due to changes in the competition information of the iPhone, Fang Zhuo even shifted the priority of Qualcomm and V vendors, increasing his contact with Texas Instruments.
Qualcomm's chips and foundry contracts, and the user groups of V merchants are all icing on the cake.
The most important thing for Yike mobile phone at present is to have the basic survival competitiveness.
Fang Zhuo plans to come to the United States to meet with T-Mobile after the Spring Festival.
He and Yu Hongyuan had a detailed chat about the status quo, future plans, patent layout of the Yike mobile phone project, and the entry-level chip design of MediaTek and Morningstar. The mobile phone business has a lot to do with it, and the unified cognition of the management is equally important.
"Xiao Yu, when we get rid of the iPhone, you can retire from Yike." Fang Zhuo promised as he finished his last sip of coffee.
Yu Hong has long been used to the boss's full of ideas, but she didn't bother with his statement, and instead thought about it.
She asked the first question: "Do you think Apple's system is very viable?"
The Apple mobile phone has been released, and the relevant information is also inseparable.
It is also a globally sourced component, and what seems most unique is its own system.
Immediately, Yu Hong asked the second question: "Apple also has a long history in chips, can it make a difference in this regard?"
Fang Zhuo liked Yu Hong's keenness very much, and replied with a smile: "We don't know what its real performance is without getting the real phone, but don't put the closed iOS and the open source of Android in the market and say that it is not the case. That is to say, 'user' is a word, but 'user' is a huge group of billions, as long as some of them can accept it, it will naturally have vitality."
"This market can only accommodate a successful company, but those who are self-styled will definitely not make it to the end."
"Time is running out for Nokia."
Yu Hong was thoughtful: "The last time I heard something like this was Sony? You should tell the reporter this."
"Next time, next time." Fang Zhuo said, "There is still a chance."
There is still a chance to talk about Nokia and soon Lehman.
But when Fang Zhuo arrived in New York, after dealing with Yi Ke's affairs, he found Stringer immediately to report his interests.
joke!
It's a big joke!
Sony's mobile phone department wants to find the camera department to get related camera technology, but it can't get it?
joke!
What a big joke!
Mr. Fang, a member of Sony's board of directors, contacted the camera department for technical assistance, which was rejected?
Fang Zhuo made the first joke in front of Stringer.
"Sir, if I hadn't called Ichiro Miyamoto from the mobile phone department, I would never have imagined that Sony would be so rotten internally!"
"This year, oh no, Sony's improvement last year, isn't it all because of your excellent leadership in the US market, Jazz?"
"With so much external competitive pressure, our company still has such internal friction. This is an unforgivable behavior!"
"Whether the Sony company is rotten or continues to be great, it all depends on this internal change!"
Fang Zhuo was very sad.
After all, I, the foreign director, was almost interested. I contacted the camera department in Japan twice, trying to find a team to help Yike Mobile, but I didn’t agree with it. Why is my vision so short-sighted?
If Yike mobile phone develops, will Brother Company be forgotten?
Stringer was also shocked, let alone this kind of thing, it would be ridiculous to just change it to an outsider!
The most important thing is that he has not received any report in this regard at all, and the consumer electronics business is mainly in charge of Kutaragi Ken.
Fang Zhuo also knew Sony's internal power structure, and he had personally witnessed the formation of Sony's new top management.
Stringer and Ken Kutaragi chose to cooperate in order to be in the top position, but the harmony between the two is not so harmonious.
And, Stringer originally wanted to implement more radical layoffs and business line adjustments, but because of the situation, he had to borrow the "Transformation 60" strategic plan formulated by the previous head.
Others don't know these things, so can Director Fang still be unclear?
In particular, Sony's blockbuster product PS3 had many problems last year, and Ken Kutaragi's internal counterfeiting behavior has been criticized internally even after the PS3 gradually improved.
it's time.
Jazz, it's time for a big fight!
Fang Zhuo didn't mention Ken Kutaragi's name at all, and only talked about the tip of the iceberg reflected by the deep gap between the "camera department" and "mobile phone department", and only talked about the reforms implemented by the Sony Group.
Transformation 60 is a strategy proposed by Nobuyuki Idei. Now who should be credited for the recovery of Sony Group?
PS3 counterfeit, TV business is sluggish, Sony's consumer electronics is in its own category, and Sony Ericsson's mobile phone situation was very good last year, but it still suffered such unfair treatment!
Take a look at today's Sony, who owns the world?
What is the role of outside directors or non-executive directors?
Isn't it just to criticize current malpractices from the perspective of a bystander?
Fang Zhuo played his due role as an outside director in front of the head of Sony.
On top of that, Sony's shareholder meeting this year is fast approaching.
The mountain of consumer electronics needs to be moved.
After a long talk, Stringer had to admit that Sony had serious internal problems, and also had to admit that Mr. Fang was extremely responsible.
Today, it is no longer the situation where we had to compromise two years ago.
"Mr. Fang, how do you think to solve the problem of the internal system?" Stringer wanted to refer to the reference.
Fang Zhuo only sincerely gave four words: "There are clear rewards and punishments."
Stringer was deep in thought, who deserves the credit?Who is at fault?
No matter who has merit or demerit, first give Kutaragi Kenji a penalty, and then discuss.
The camera department is of course a fault, and the mobile phone department is of course a credit.
Stringer has the determination to reform in the interest, but still needs to conduct a more detailed internal investigation.
But Fang Zhuo will not participate in this internal management process.
The old jazz was determined to change, and Director Fang left lightly.
It's time to go home for the holidays.
On February 2, Fang Zhuo, Yu Hong and some executives took a flight back to Shanghai.
But while they were in the air, HSBC suddenly issued a shocking announcement, announcing that the North American home loan mortgage business suffered huge losses and wrote down related assets by 108 billion US dollars.
Assets of 108 billion US dollars!
You know, HSBC has been in good business before this, and there is no such trend at all.
For a while, HSBC's stock price plummeted, driving several financial stocks to also decline.
When Fang Zhuo arrived in Shanghai, when he drove to Hang Lung 23, he happened to meet a reporter who wanted to make an appointment for an interview.
The reporter reported the news of HSBC, and also mentioned the decline of Lehman's stock price, and asked Mr. Fang for his opinion.
Fang Zhuo faced the camera, blinked, digested the news, and made a joke: "Oh, HSBC, don't be afraid, it's a technical adjustment."
He said meaningfully: "Lehman, there is not much time left for it."
I drank too much at a party last night, so I hurriedly got up in the morning and returned a chapter in the afternoon.
(End of this chapter)
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