Reborn as an oil tycoon

Chapter 276

As the crisis deepened, Lehman Brothers filed for bankruptcy after the Federal Reserve declined to provide financial support assistance.

On the same day, Merrill Lynch announced that it was acquired by Bank of America.

In the next few days, the market value of global stock markets plummeted.

Meanwhile, American International Group (AIG) was downgraded for holding many maturing contracts that had already been credit-defaulted, and the insurance group itself was in a liquidity crisis.

Almost on the same day, Reserve Primary Fund, a large mutual fund in the financial market, disclosed that it held bonds of Lehman Brothers.

Its share price fell below $1, which led to a massive spread of demand from investors to redeem their funds, further exacerbating the financial crisis.

In a market with a total market capitalization of $4 trillion, institutional investors are asking for sell orders worth as much as $5 billion.

The liquidity funds injected into the market by the Federal Reserve System in the United States are only 1050 billion US dollars, which immediately collapses the market at this moment.

On the same day, the Dow Jones Industrial Average fell 300 points in a few minutes, ending with a loss of 777.68 points.

The Nasdaq fell 199.61 points and fell below the 2000-point mark.

The S&P 500 also fell 8.77%.In the end, the Dow Jones Industrial Average recorded the largest decline in history on the day.

In the short time since the financial crisis erupted, AIG was in financial trouble.

Merrill Lynch is acquired by Bank of America.

Lehman Brothers files for bankruptcy protection.

Washington Mutual declared bankruptcy.

Iceland is on the verge of bankruptcy, with three major banks being taken over.

GM, Ford, Chrysler and other three major car manufacturers are on the verge of bankruptcy, and they are in a hurry!
And the financial crisis is still ongoing.

For Liu Shanghe Guanglun Company, the first thing that was affected was the suspension of delivery of the polymers they purchased from Essen, France.

Under the background of this financial crisis, the other party is unwilling to pay any attention to small companies like Guanglun and small orders.

In Liu Shang's office, Guan Tu's expression was serious.

"Currently, the supply of high molecular polymers in Essen, France is quite strong, so we can only rush to purchase polymer products from other manufacturers."

"However, every polymer manufacturer has dozens of product categories."

"From the receipt of drug samples, to the drug compatibility test in the laboratory, to the procurement of drugs, and on-site application."

"It will take at least one and a half months, and that will be next year."

At this time, Li Huaiyuan also announced the data he had carefully calculated before.

"Judging from our company's current polymer inventory, it can last about ten days."

"So the most important thing now is to make an overall plan for the wells under construction."

"Like, how much more polymer do we need in construction wells?"

"And what would it take to get rid of those wells, how many wells do we have enough polymer left over to produce?"

"Which wells are we planning to select for construction?"

At this time, Song Jia was a little bored and tapped the table with her slender fingers.

"Just a few of you will be content."

"Fortunately, you don't have cash flow pressure yet."

"I heard from our teacher that affected by the financial crisis, our domestic financial securities insurance industry and real estate industry have also been greatly affected."

"Banks' money tightened and business confidence slipped."

"Coupled with the impact of import and export trade, many highly leveraged companies have already started laying off employees and selling non-performing assets at a low price to prepare for the winter..."

"Hey! Why are you looking at me with such eyes?"

"He is also a financial management major, okay?!"

"With my smart brain, these economic problems are pretty simple."

"As far as our oilfield industry is concerned, there is no doubt that due to the impact of the economic crisis, the total investment in oilfield measures will drop significantly next year."

"I'm afraid that even the recruitment of graduates this year and next two years is not optimistic."

At this time, Liu Shang gave Song Jia a thumbs up from the bottom of his heart.

Don't look at this girl who knows how to play every day, but she is really sensitive to the market and industry.

As she said, in the two years of 09 and 10, the recruitment of graduates in the entire oilfield industry was greatly affected.

There are even many graduates who signed the tripartite agreement, but were still paid for dismissal.

All this is because of this global financial crisis.

At this time, Liu Shang also took a deep breath, and smiled confidently.

"It's all right for you to be worried."

"However, I don't think we need to temporarily replace the polymer manufacturer."

"Don't forget, Zhao Shigui gave us a big gift back then."

"However, this incident also sounded a wake-up call for us."

"Brother Guan, after the end of this year, when you have time, you must prepare alternative plans for purchasing medicines and raw materials."

"In order not to affect the overall situation because of the shortage of one or two key raw materials."

Guan Tu nodded seriously at this moment, and made this part of the work a priority in his notebook.

But Li Huaiyuan and other people looked at Liu Shang in surprise, wondering what the big gift he was talking about was?
At this time, Liu Shang looked at Li Huaiyuan with a smile, "Brother Li, release the announcement."

"For example, affected by the supply of manufacturers, our company's polymer products are in short supply."

"First purchase the Essen brand polymers on the market."

"Let's set the purchase price at [-]% off the original price."

"In my impression, under the leadership of Zhao Shigui, these Party B companies purchased Essen's polymers a lot."

"But they don't have the additives and technology to crosslink these polymers well, and it's purely a display in their warehouse."

"So, if there is such an opportunity, they will definitely choose to sell it."

After hearing Liu Shang's explanation, everyone suddenly realized, and then frowned.

According to what Liu Shang said, Optical Wheel Company bought Essen polymer products on the market at a [-]% discount, which clearly took advantage of these people.

Not only is the purchase price [-]% lower, but even the shipping fee per ton of goods is saved.

None of these bosses are stupid, will they really agree?
……

However, the facts were beyond the expectations of everyone including Liu Shang.

After seeing the announcement of Guanglun Company, there were too many Party B companies who scolded Guanglun Company to get out and be shameless, while rushing and scrambling to sign the acquisition agreement with Guanglun Company.

As Liu Shang said, at the beginning of this year, each of their companies followed Zhao Shigui to purchase a lot of polymers.

Each must be tens of tons, or even hundreds of tons.

According to the unit price of more than 18000 per ton, this is the backlog of 300 million funds in the warehouse.

And the most important thing is that these polymers are currently only used by Guanglun Company, and they don't have such chemical additive technology at all for the time being.

Under the background of the current financial crisis, money is tightened, and cash is king, so it is not tolerated that they will not sell.

(End of this chapter)