American Gossip King

Chapter 310 Negotiations with JPMorgan Chase (Part 2)

In the small reception room, four bigwigs gathered together and chatted happily.

Most of the time they don't talk about serious matters, but rather about other things.

Ian personally likes to talk about romance and nature as a way to lighten the mood, but unfortunately he's facing three old men.

The elderly man is in average health and has little interest in romantic tales; he prefers to talk about life, which he also incorporates into his work.

At that moment, Charlie Munger said, "I've recently come to enjoy Chinese tea ceremony. The bitter taste is difficult to swallow, but it has a long aftertaste. Sometimes life needs a bit of bitterness, and arduous memories always last longer."

Ian then said, "I brought back a lot of good tea from China last year, and I wanted to give it away as gifts, but most Americans don't drink tea, so I didn't have any to give away. Mr. Munger likes tea? That's wonderful. I'll arrange for someone to send you some tea leaves, along with a nice teapot."

Charlie Munger asked, "Jingzhou Gu?"

Ian laughed: "So you knew too? But I'm sorry, I didn't buy his teapot. I don't know much about art. I only buy teapots because I like the style. There's a teapot with a handle that only cost 10,000 yuan, which isn't very valuable, but the style is nice. It's just a bit troublesome to clean, but you don't need to clean it yourself."

Charlie Munger smiled and nodded: "Then I won't stand on ceremony."

Ian beckoned, and the new secretary came over and bowed.

Ian said, "I'll send my double-dragon teapot to Mr. Munger later, along with tea, one serving for each of them, and one teapot for each of them as well."

The secretary made a note and left.

Sandywell chuckled, "Thanks, Ian. By the way, does your Carl Media accept funding now?"

Ian immediately replied, "I accept, but not now. You know that the Carl Group's investment business has now surpassed Carl Media in scale? In fact, I myself am actively seeking good investment opportunities."

Jamie Damon immediately replied, "Then you still need funding."

Ian laughed heartily, completely oblivious to being proven wrong: "If it's just a matter of funding, First Linuo can already meet my needs. Let me put it this way, Jamie, what I need has never been just funds."

Jamie Damon nodded: "Of course, finance has a huge influence, but you also said you wouldn't get involved in financial business."

Fake!

I hate negotiating with smart people.

Ian shrugged: "Of course not, but it's always easier to have friends on your side."

Jamie Damon immediately replied, "The key is which part is convenient."

Which part?

It was definitely aimed at Jews.

Damn it, Sandy Well was there.

Although he is not a Zionist, it is obviously not right for him to say that he dislikes Jews.

Ian laughed and said, "Doing business always involves encountering various situations; you'll have friends and enemies."

Jamie Dimon understood. He smiled and looked at Warren Buffett, who shrugged. "Why don't you consider investing in Berkshire Hathaway?"

Ian replied, "Because Berkshire Hathaway hates dividends."

Buffett: "..."

Under Buffett's management, Berkshire Hathaway has indeed grown rapidly, but a very important reason for this is that Berkshire Hathaway pays almost no dividends.

No matter how much money they made, they kept it all on paper; the company's accounts once held hundreds of billions of dollars in revenue!

I'm not going to take a cut!

Of course, there are many reasons why he doesn't distribute dividends. Besides a severe cash shortage, another reason is to avoid dividend tax. But I don't care about your reasons, the point is I can't get the money!

It's worth noting that while Buffett is known as the "Oracle of Omaha," his company's actual annual return is only around 20%... which is already quite good in the financial industry, but for Ian, this rate of return is still too low.

If you're willing to share the profits, I can invest a small amount to repay the interest.

If you don't distribute dividends, I can only rely on selling stocks to make money, which is equivalent to forcing me to hold stocks for a long time to accumulate wealth. I'm not satisfied with your rate of return, and there's not much room for appreciation in the future, so of course there's no need for that.

Jamie Damon understood his meaning and laughed, "It seems your thirst for funds is more than I imagined."

This time, it was Ian's turn to be speechless.

After a long pause, he smiled and shook his head: "Tell me your needs, Jamie."

Jamie Damon has finally stopped pretending.

He stated directly, "Warren and his team are willing to take over Vanguard Navigation, and BlackRock and State Street's stake in JPMorgan Chase; we can become one family. But JPMorgan Chase must be the dominant party!"

No wonder they're here; in a sense, this is a mini board meeting.

Although Ian has never said that he is targeting Jews, his decision to drive out Jewish-controlled fund companies such as Vanguard reveals his attitude.

Fortunately, Sandywell did not stop him... because he would be the beneficiary, and companies like Vanguard currently have no ability to resist Ian Carl.

They had to back out, or they would have to be wary of Ian Karl's tactics—the Chechens were dead, and these people had realized that this might be Ian's retaliation for the airport bombing.

Oh, they now understand the idiots Tima Company has done.

Unfortunately, there's no way to explain this, so we can only obediently admit it!

Ian immediately said, "The board's bylaws cannot be changed, and the major shareholder's authority will remain the same. Daily operations will continue as before. Gaskell will be responsible for some of First Linuo's business, while also serving as chairman of the board. You will remain CEO, and my shares will be transferred to Gaskell! As for the vice-chairman, you will decide!"

Ian can give Jamie Dimon more power, but he can't give up the chairmanship of the board.

The group looked at each other.

Jamie Dimon thought for a moment and said, "Berkshire Hathaway and Traveller Group will have board seats. But only one of you and Gaskell can be on the board."

Ian nodded: "That's fine!"

Equity ownership matters, not the number of employees.

Of course, when a board meeting is actually held, if most of the twelve directors think that this matter is inappropriate, it is also inappropriate for a chairman to rely solely on equity to exert pressure.

Therefore, the number of people is still meaningful to some extent.

But Ian didn't care; he just wanted to eliminate anyone he disliked.

Jamie Dimon said, "First Linuo is valued at $680 billion. JPMorgan Chase will pay $350 billion to First Linuo's shareholders."

Ian shook his head: "That's impossible."

This move essentially means First Linuo is being sold off at a bargain price, and it's a true acquisition of First Linuo by JPMorgan Chase.

Ian wanted a complete merger.

Jamie Damon sighed, "But if we don't do it this way, your shareholding will be too high."

The latest novel is first published here!

Although JPMorgan Chase has a market capitalization of $70 billion, 700% of its shares are listed on the stock market, while other shareholders only own 30%, which is equivalent to only $210 billion.

Ian's stake in First Linuo is currently worth $280 billion. After the merger, his individual stake will be equivalent to that of all JPMorgan Chase shareholders.

This is why JPMorgan Chase insisted on contributing some funds, and it is also the biggest point of contention between the two parties.

Ian thought about it carefully for a moment.

Jamie Dimon is a very capable person, and it was he who led to JPMorgan Chase's significant rise. Without his support, the merger would likely have failed.

What Jamie Damon was worried about was simply losing power.

Thinking this through, Ian said, "I can split my shares in two, with Gaskell holding one half on my behalf and you holding the other half. But First Linuo's valuation cannot be lower than 720 billion."

I bought Midea at a low price, but that doesn't mean the merger will be at a low price. Back then, you guys calculated Midea at 580 billion, and now Linuo is calculated at 720 billion... The increase isn't that much, but what can I do when I have eyes?

Jamie Damon stared at him in astonishment.

What the hell!

This bait is too big.

While Jamie Dimon is strong, he is essentially a steward, not the boss. JPMorgan Chase's shareholding is very dispersed, and there is no core boss in essence, which is why his role as CEO is particularly important.

Ian's willingness to hand over half of his shares to Jamie Dimon as a nominee signifies his high regard for and commitment to him, and is also the greatest form of bribery.

Unfortunately, at that moment, Sandywell said softly, "James Peley also held your shares on your behalf, right? But you two eventually parted ways."

Fake!

Jews are just so hateful, even if you're not a Zionist, you still hate them!

Ian smiled slightly: "You know about the documentary? All for a hundred million... It's a very sad story. Mr. Will, I'm not the kind of person who likes to turn against his friends! But even so, I still maintain a certain level of personal friendship with James Pely."

That's true. James Peley didn't fall out with Ian because of this, and the two still occasionally keep in touch.

There's nothing I can do!

Murdoch and Ian are good friends, and he has all sorts of dirt on him. How can you not bow down?

Hearing this, Sandywell shrugged and smiled, "I'm fine."

At least you know when to stop.

Jamie Dimon said, "An agreement must be signed specifying the timeframe for repurchase. After making a certain contribution, you can continue to hold the shares. I heard you allowed Steve Jobs to hold your Apple shares indefinitely?"

Ian smiled: "I'm sorry I can't give you unlimited ownership, but I can sign an agreement with you, as long as you add some normal buyback clauses."

For example, you must not break the law. As long as you don't cheat me, Jamie Damon, you won't repeat James Paley's mistakes... I don't believe you can be a saint.

There are no saints among American businessmen, not even Gaskell.

Jamie Damon then laughed: "In principle, I have no problem."

This statement implies that the overall direction is largely sound; what remains are numerous details.

There's no need to rush things.

As he spoke, Jamie Damon shook his neck: "Would you like some after-dinner entertainment? Like, perhaps some girls?"

Ian raised an eyebrow: "I didn't expect any romantic stories to unfold when I was with a bunch of old men."

Everyone laughed.

Jamie Damon said, "That's basic hospitality, Ian. There are plenty of good girls in New York, and the beauties in the finance industry aren't necessarily worse than those in the entertainment industry."

Ian nodded slightly: "UTA also has quite a few good girls. I have a list of them, you can take a look. I can provide a private jet for them. That's what you call exchanging resources."

Entertainment industry bosses, especially talent agencies, have rosters of their artists. These rosters can be used to recommend actors to film and television companies, or for other purposes.

The old men smiled without saying a word.

As cultured people, they wouldn't talk about such things.

Just do it.

(End of this chapter)