Leaving Citibank, Eric headed to Goldman Sachs and JPMorgan Chase.
The method was the same: a tempting offer of $1.1 billion. Eric was confident that no bank could resist such a lure.
And who could? Could they even be called capitalists if they didn't want to make money?
...
Five days later, on Wednesday morning, the family was having breakfast when suddenly the Nokia slider phone rang.
Charlie Cooper answered the call and immediately broke into a smile.
"Eric, as soon as we finish breakfast, we're heading to JPMorgan."
Eric's head snapped up:
"So soon? I thought it would take at least two weeks."
Charlie laughed:
"Who doesn't love money? If they hadn't agreed, we would've just found other banks. Right now, we're a very tempting prospect for them."
Mom, Emily, looked at them in bewilderment:
"What are you talking about?"
"Nothing, dear, just work."
"Really? But you seem to be in better and better spirits. Has the movie issue been resolved?"
"No, but it doesn't matter anymore."
In the conference room at JPMorgan, many people had gathered – representatives of all three banks.
They were discussing a $2 billion loan. Although Eric had assets worth $1.1 billion, the risks were still high. No single bank could take on such a risk alone.
However, high risks come with high rewards. Therefore, the three banks decided to join forces and share this "pie."
The agreement was being drafted by a woman in her thirties, a blonde with blue eyes. Despite her short stature, she could have been a highlight in any Hollywood movie.
But seeing how the three managers behaved with her, it was clear that she wasn't that simple.
"Nice to meet you, Mr. Coopers. I'm Elin, representing the JPMorgan Chase headquarters."
Elin extended her hand, Charlie shook it and sat down, but Eric felt she deliberately squeezed his hand a bit harder and gave him a strange smile.
"What does that mean? Is she flirting with me?" Eric wondered.
Elin, as if nothing had happened, sat down opposite with a smile.
"Mr. Coopers, let's get down to business. After discussions, we have decided to provide you with a loan: Citibank – 32%, Goldman Sachs – 33%, JPMorgan Chase – 35%.
"All the conditions are detailed in the contract. Please review them."
The contract was handed to their lawyer. After careful examination, he highlighted three main points.
First: the loan issuance depends on the progress of acquiring MGM. If there is no progress within three months, the three banks have the right to withdraw the loan. If there is progress, the terms will be extended.
Second: if the MGM purchase is successful, MGM will automatically become collateral for the loan.
Third: if MGM remains unprofitable after the acquisition, and the debt level exceeds 82%, the Coopers will not be able to take new loans, and MGM will become the property of the three banks.
From these conditions, it was clear that the banks were eyeing MGM as a juicy target. If they managed to seize it, with the company's assets and land, the $2 billion would justify itself.
The parties signed the contract, and Elin promised that the money would be in the account within a week.
"Mr. Cooper, here is my business card. If you need anything, please contact me."
"Certainly, miss."
After shaking hands with Elin, the Coopers left JPMorgan.
Three days later, the promised money from Elin arrived in the account – $2 billion.
On the day the money arrived, the Coopers boarded a plane to Las Vegas – Sin City, where the MGM headquarters is located.
Charlie had already contacted Kirk Kerkorian, his old boss, and arranged a meeting.
Upon arriving in Las Vegas, they were met by MGM staff. They got into a car and headed to the headquarters.
Their limousine stopped at a hotel on the Las Vegas Strip. The doorman immediately opened the door.
"Eric, the land we're standing on is the MGM hotel and entertainment complex. This is the headquarters of my old boss."
Eric looked up, appreciating the impressive building in classic European style.
Entering the hotel, they found themselves in a lobby with a huge sculpture of a roaring lion, just like in the MGM logo.
Looking around, Eric realized that this was a true entertainment complex with a 170,000-square-foot casino, an amusement park, a cinema, restaurants, a theater, bars, clubs, and even a hospital.
Despite its name, it was clearly more than just a hotel – more like a mini-city.
Naturally, the prices here were not cheap. The full service package cost around $100,000. Most visitors were playing slot machines in the lobby.
Going up to the top floor, they were greeted by a young secretary who led them to a luxurious office.
Seeing them, an elderly man with gray hair and a wrinkled face rose from behind the desk.
This was Kirk Kerkorian, the renowned American casino magnate, who was already 85 years old. However, he looked surprisingly vigorous for his age.
Since he rarely appeared in the media, he was known by name but few had seen his face. In this, he resembled media magnate Rupert Murdoch.
"Charlie Cooper, my old friend, you look younger every day."
Charlie approached and hugged Kerkorian, who then turned to Eric.
"Who is this handsome young man? Introduce him to me."
Charlie laughed:
"This is my son, Eric. He's a big fan of yours and wanted to meet you."
Eric stepped forward:
"Hello, sir. Your hotel is simply amazing."
Kerkorian smiled: "Really? Then you should have some fun. Let Lisa exchange some chips for you."
Eric looked at his father, and Charlie nodded approvingly.
He trusted his father's business acumen. Although he wasn't a film expert, he understood business, otherwise, he wouldn't have been a top executive for decades.
Eric had managed to earn his initial capital through his predictions, but he entrusted negotiations to his father – he was better at it.
Since Kerkorian didn't want Eric to be involved in the conversation, he didn't insist and followed the secretary downstairs.