Entertainment mogul: Starting his business with the internet

Chapter 224 Stabilizing Military Morality
On September 10th, Liu Shishi attended the 9th birthday banquet of Song Ci's maternal grandfather, and took the opportunity to formally meet her boyfriend's mother's relatives.

After resting at home for half a day, I hurriedly packed my bags again on the afternoon of the 11th and rushed to Hengdian to return to the "Chinese Paladin 3" crew to complete the filming of the last scenes.

September, which may seem like an ordinary month, marks the beginning of one of the darkest periods in global economic history, with financial markets around the world shrouded in an unprecedented chill.

As the US subprime mortgage crisis worsened, the global economic situation deteriorated rapidly, and the financial crisis evolved from a localized problem into a global catastrophe.

In mid-September, Wall Street delivered shocking news that reverberated throughout the world: Lehman Brothers, one of the world's top investment banks, declared bankruptcy, plunging global markets into extreme panic.

This investment banking giant, with its 158-year history of great influence in the global financial world, collapsed under the pressure of the bursting of the real estate bubble and the surge in subprime loan defaults.

The collapse of Lehman Brothers was like the first domino, quickly triggering a series of chain reactions.

Investor confidence collapsed, credit markets froze, and liquidity dried up. Interbank lending virtually came to a standstill because no financial institution dared to be certain of the other's safety.

The stock market was even more disastrous, with stock prices plummeting and no major global stock indexes spared.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all experienced dramatic fluctuations, plummeting with astonishing declines.

Stock markets in Europe and Asia were not spared from the storm, with despair and anxiety filling trading floors and people jumping off rooftops every day.

Faced with such a severe situation, governments and central banks around the world have taken urgent action to try to stabilize the market by injecting funds and lowering interest rates, but the results have been minimal in the short term.

Media headlines were filled with news about the economic recession, asset impairment, and financial rescue plans, while public trust in the financial system plummeted, as if the entire society was in a crisis of confidence.

As the darkest hour for the global economy arrives, internet companies are not immune.

Many domestic internet companies, including Tencent, Alibaba, and Baidu, have also been forced to announce massive layoffs and cut costs in an effort to weather the seemingly bottomless financial crisis.

Suddenly, the internet industry was in a state of panic, with employees fearing that they might be laid off the moment after writing code.

Even IT professionals who have never paid attention to finance are deeply worried in the face of immense unemployment pressure.

The entire workplace of internet companies is shrouded in gloom, and the once positive and enterprising work atmosphere has vanished.

The headquarters of Tengda Group, a building that is usually bustling and vibrant, is now filled with an atmosphere of unease.

On the internal forum, employees were discussing the matter animatedly, completely distracted from their work.

"Brothers, Xinlang just announced a 40% layoff and a 30% pay cut. It's terrifying! I'm so panicked! Who was that idiot who said that our internet industry is high-tech and has nothing to do with the financial crisis? They've been proven wrong."

"Xinlang's layoffs were not expected. Their various businesses were squeezed out of room to survive by us. Even without the financial crisis, layoffs were inevitable sooner or later."

"Even if Xin Lang is an exception, what about Tencent, Alibaba, Baidu... these big companies? It seems that apart from us, which hasn't made any moves yet, other companies are either laying off employees or cutting salaries. I think our Tengda is in trouble too."

"No, I see the company is operating normally, there are no plans to cut expenses, and I asked the finance girl, she told me the company is very rich right now, so there's no need to panic."

"I hope so! But to be honest, things are really out there right now. Countless businesses are going bankrupt, and the job market is full of huge numbers of unemployed people."

"Yeah, I never used to read financial news, but I've been browsing the internet these past few days to check out the economic situation. Goodness, yesterday Washington Mutual, the largest savings and loan bank in the US, went bankrupt. It's like the four major banks in China; it's unbelievable that a bank of that size could go bankrupt."

"I also saw this news. This is the largest bank failure in US history, with countless depositors losing everything. The financial crisis is too brutal."

"Brothers, let's get to work honestly. It's precisely at times like these that we need to demonstrate our value. I'll come to the company to work overtime tomorrow and the day after. If we do more work, maybe we can keep our jobs."

"I had the same idea. Let's work overtime together tomorrow. It's a bitter story for working people."

"I hope the senior management of the group can say something, even if it's bad news like layoffs or pay cuts. It's better to have some definite news than to be so anxious. I haven't been able to sleep these past few days because of this anxiety."

In the chairman's office on the top floor of the building, Song Ci sat on the sofa, talking on a satellite-encrypted phone to someone on the other side of the ocean.

Speaking fluent English in a low voice, he said, "Mr. Paulson, how have you been?"

A wary voice came from the other end of the phone: "Who are you?"

Song Ci chuckled lightly: "Mr. Paulson, you may not remember my old friend, but you won't forget my $33 billion, will you?"

Upon hearing this, John Paulson immediately recalled that handsome face with distinctly oriental features and exclaimed, "It's Mr. Song! What brings you to me so late?"

"Sorry, I forgot about the time difference! But I'm contacting you today because it's important." Song Ci's expression was serious, no longer as relaxed as before.

"Please say?"

"Mr. Paulson, that's enough. I can close out my fund positions and secure my profits!"

"Mr. Song, believe me, the stock market still has room to fall. You will lose a lot if you close your positions now. With your financial expertise, you can't fail to see that this is a once-in-a-lifetime opportunity to short sell."

John Paulson spoke rapidly and earnestly, attempting to influence Song Ci's decision with his own judgment.

Although he hadn't seen Song Ci for more than half a year, he still remembered her vividly, and it wasn't just because of her face.

Furthermore, given the other party's unparalleled accuracy in judging the financial market, it was hard to believe that they would say something so utterly incompetent.

A glint flashed in Song Ci's eyes, and she calmly reminded him: "I know the stock market will continue to fall, but don't forget that in this economic situation, governments around the world will definitely not stand idly by."

I estimate that various countries will introduce relevant laws next month to prohibit short selling, so whether to close positions now or continue to wait for the right opportunity is no longer very meaningful.

"This!" John Paulson was momentarily speechless, his grip on the phone tightening. He had only considered the dynamics of the financial markets, neglecting the possibility of government intervention.

After a brief silence and reflection, I had to admit that Song Ci's words made sense.

In order to stabilize the situation, governments around the world will definitely not allow investors to short sell and plunder national wealth, and will certainly take coercive measures.

With a sigh, he had no choice but to compromise with reality: "You're right, I'll gradually close out my positions over the next few days!"

“Great, let’s use October 1st as the dividing line and start closing out positions from that day! I’ll come to Wall Street in a while, and we can talk face to face then.”

"ok, no problem."

After reaching an agreement, Song Ci couldn't contain her curiosity: "Mr. Paulson, after deducting management fees, commissions, and taxes, how much can I roughly earn from this short selling?"

There was silence on the other end of the phone. The other person seemed to be calculating the profits. After a long while, an incredibly amazed voice came through: "Congratulations! I've done a preliminary calculation, and it's definitely no less than 200 billion US dollars." "200 billion US dollars!" Even Song Ci, who was usually very composed, was so excited that his hands were trembling!
Taking a few deep breaths to calm his surging emotions, Song Ci spoke with an excited and enthusiastic tone: "Congratulations! Mr. Paulson, you must have made quite a bit of money too."

"Thanks to Mr. Song!" John Paulson chuckled, revealing a hint of pride and satisfaction.

Although separated by a vast ocean, the two tacitly understood each other, and each made a fortune from this lavish feast.

After hanging up the phone, Song Ci was overjoyed, waving her fists and pacing excitedly back and forth in her office.

He was already planning how to use this huge sum of money that was about to be in his hands. His two companies, Shanhai Capital and Zhongxin Investment, would finally be able to get started once the overseas funds arrived.

Currently, the stock prices of major listed companies around the world have fallen to their lowest points. Buying now and weathering the financial crisis could yield returns of at least several times over.

With money, one's grand ambitions can be realized one by one.

Just as she was lost in her wonderful daydreams, she heard a knock on the door. Song Ci responded with a strong and energetic voice: "Come in!"

Wang Jing, wearing high heels, went straight to Song Ci's side as soon as she entered the office and got straight to the point: "President Song, with the current financial crisis, all industries are laying off employees and cutting salaries."

The employees were filled with anxiety and unable to concentrate on their work. Even the HR director came to me quietly to ask if the company had any layoff plans. If so, he wanted to prepare in advance.

Song Ci was completely baffled: "This is utterly absurd. What does it have to do with us if other companies are laying off employees? Why would a company lay off employees if it's operating normally? What kind of nonsense is the HR director up to? Is he just bored and has nothing better to do?"

Wang Jing secretly breathed a sigh of relief; it seemed the chairman had no intention of laying off employees.

"It's not like Tencent, Alibaba, and Baidu have all started laying off employees, and the staff are worried about losing their jobs and living in constant fear. Since you, Mr. Song, don't have such plans, I'm stepping forward to clarify and reassure everyone."

Upon hearing this, Song Ci nodded slightly: "I see. The comrades below are unaware of the details and are understandably anxious; it was my oversight. Jing-jie, you go ahead and do your work; I'll handle this!"

"It's best that you, Mr. Song, are willing to step in!"

After watching Wang Jing leave the office, Song Ci quickly dialed a short number on the landline and called Chief Financial Officer Chen An, instructing him, "Mr. Chen, come to my office."

At 5 p.m., it was already time to leave work, but the Tengda employees were all on pins and needles, and few dared to clock out and leave.

I was afraid that if I left even a little early, my boss would take it to heart and I would be notified of my dismissal the next day.

Just as everyone was feeling anxious and relieved that they were about to get through the day, Tenda's internal forum exploded.

"Breaking news! The company is not only not laying off employees, but also raising salaries!"

"Where did you get this information? Tell me in detail!"

"Look at the latest updates from the chairman on Weibo. No wonder the finance girl said the company is incredibly rich; Tengda is freaking rich!"

Upon hearing the news, everyone, filled with curiosity and anticipation, hurriedly opened their web pages, logged into their accounts, and eagerly checked Song Ci's Weibo homepage.

Song Ci's announcement 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.

Meanwhile, due to the rapid growth of its business, Tengda Group will need to conduct a large number of recruitments in the future.

This news itself wasn't anything special; at most, netizens would sigh and say that Tengda Company is a conscientious enterprise, not laying off employees and even raising salaries despite such a harsh economic environment.

Or they might praise Mr. Song for his visionary leadership and skillful guidance, which has led Tengda Group to great success.

However, the two images accompanying this announcement were extremely shocking. These two images were two bank deposit certificates of Tengda Group.

One document, issued by ICBC, shows deposits exceeding 15 billion yuan. The other, issued by Huaguo Bank, shows an even more staggering 23 billion yuan in account funds.

The comments section for Song Ci's poems has already completely exploded.

"Holy crap, 38 billion! Tengda Group is amazing. Their cash reserves are simply incredible."

"This is truly valuable. If I had this much money, I couldn't spend it all in ten lifetimes."

. . . . . .

"It was the first time I had ever seen a deposit slip for billions of yuan. It was truly awe-inspiring. No wonder it is China's largest internet company."

"Does anyone know anything about this? I'm thinking of working for Boss Song. What are the working conditions like at Tengda?"

At this moment, seeing the chairman's announcement and the company's huge cash reserves of 38 billion yuan, the employees of Tengda no longer had any doubts about layoffs or salary reductions.

The previous atmosphere of trepidation and anxiety on the company's internal forum has been completely swept away, replaced by employees' laughter and a relaxed and joyful atmosphere.

"I never imagined the company had such an impressive amount of cash reserves. Now I can finally relax."

"Looking back now, when the chairman urged the payment of accounts receivable at the beginning of the year, did he foresee today's situation?"

"It's hard to say. Our chairman always plans three steps ahead for every one step he takes, and he has a long-term vision."

"Good news, the finance girl told me: the group's performance has skyrocketed this year, and the year-end bonus will be much higher than last year."

"The Weibo and mobile game departments must have taken the most, because their user base and revenue have grown too rapidly."

"Damn, why don't I know any girls in finance?"

"So, is it time to leave work? Let's all go together."

"Let's go, off work. I need to treat myself to something nice to celebrate. Damn, I've been terrified these past few days, unable to eat or sleep properly. Finally, I can breathe a sigh of relief."
The situation within Tengda Group has completely stabilized thanks to Song Ci's Weibo announcement. This news quickly became a trending topic, and its enormous influence is only just beginning to spread and unfold.

Many employees from other internet companies, who considered themselves to be technically skilled and experienced, quickly went on Weibo after hearing the news.

When I saw that Tengda Company was not only not laying off employees, but also planning to expand its recruitment, my mind immediately started working. Rather than enduring the fear and anxiety of being laid off, I thought it would be better to leave my current job and switch to Tengda for better opportunities.

Tenda's compensation is already among the best in the industry, and it will continue to rise next year against the trend, so its future looks bright.

(End of this chapter)