[Chapter 508: Rich People Are Stupid]
At the beginning of the New Year, most corporations were still entangled with the recessions in their markets. William White's investment company had begun to ramp up its activities.
The White Plaza project was well underway, entering a high-speed construction phase. It involved over thirty countries and regions, with nearly a hundred mega-projects launching simultaneously. When it came to investment prowess, he truly had no equal.
Wall Street analysts pointed out that William White had too much of his money tied up in struggling markets. The current economic crisis was bound to affect the billionaire's wallet. Given the circumstances, it looked like he intended to make a strong push into real estate.
No sooner had the expert finished speaking than he received a swift punch to the face. The billionaire decided to build two factories in Silicon Valley. The dynamic random-access memory factory would not produce anything below 16MB.
This news sent shockwaves through the IT industry. They were not stunned by the location of the factories, but rather by the fact that they had just developed a 1MB memory and were planning for 16MB already.
William White certainly had no intention of explaining himself; a 16MB memory stick was just a matter of a little more time. Once the factories were up and running, if the product was still unfinished, the lab would likely need to be shut down.
The other factory was even more obscure.
When news of the TFT LCD factory broke, the industry was in an uproar.
It seemed the people in the struggling market already had this. Was it worth it for your little PSP and PDA?
What others thought didn't matter much; the government of California was quite pleased. The first phase of these two factories' investments was close to $1.5 billion. This wasn't child's play -- this was serious business.
At this point, not many were paying attention to where the billionaire was building his car factory.
Weren't you all saying something about industrial upgrades day in and day out?
Since it was about upgrading industries, anyone insane would be trying to start a traditional industry in America. It was high-tech industries that were desperately needed in the U.S.
...
"What did you say? Are you sure?"
"Yes, sir. He just completed an acquisition. He packaged and acquired six oil companies under Shell and BP. The deal price is unknown."
"This guy's gone mad?"
"He seems to have a strong fondness for offshore oil drilling platforms. All these companies have significant offshore assets."
The old hand from Morgan Stanley, though puzzled by why William White was acting so crazy, dismissed his subordinate's words. Oil prices were so low now; the cost of offshore drilling platforms must be quite cheap, he thought.
"What about petrochemicals? If he doesn't get into that field, he'll be choked by the competition."
"Negotiations are still ongoing. Moreover, the gas stations run by these two companies are also part of his targets."
"Ha, I really want to know what Rockefeller's face looks like."
The old gentleman's glee was understandable. William White's capital pour into the real economy meant he wouldn't be competing with investment banks like theirs.
To be honest, he was a bit afraid of this reckless guy. If possible, it might be better to avoid any dealings with him.
While everyone else was scrambling for cash in the down market, this guy had such funds and chose not to participate. The Wall Street elite certainly guessed that William White's lack of a trading window was a choice made out of necessity.
...
"Wow, look at you, you're already become a major oil player. I still have a couple of companies. Why not just acquire them together?"
"Come on, quit kidding around. If you dare to sell, wouldn't your old man break your legs?"
"Hey, how do you know?"
"Oil is a cyclical industry. With prices like these, even if they aren't rock bottom, they've got nowhere to go but up, you think it's wise to act now?"
Bush Jr. wasn't too satisfied. Though he was joking, he didn't see any reason to continue holding onto oil investments.
"I'm just curious, if that's the case, why are those two selling?"
"Ha, ha, ha! You killed me with laughter, my friend. Do you understand the nature of those two companies? They're not private businesses."
Bush Jr. was at a loss for words. He wasn't foolish; an individual's business couldn't be compared with that of a state-owned enterprise. Even if oil prices rose in the future, those guys wouldn't come back for the losses.
On the surface, it seemed William White had money to burn, foolishly aiding other countries in reducing their fiscal deficits. In reality, he could easily streamline the entire industrial chain.
Not long ago, there were whispers about a second Rockefeller. At that time, it seemed somewhat absurd, but now it appeared this guy had a real shot at challenging the establishment.
Facing the aggressive White Oil, it was no surprise Rockefeller wasn't in a good mood.
Bidding against William White?
Don't be foolish. William White was savvy enough to pick up bargains; why wouldn't they recognize it too? If it weren't for their little tricks, there'd be no way for White Oil to even enter the picture.
The old man overestimated himself. Those two companies were not playing fair; since Rockefeller held the monopoly, they wouldn't hesitate to set him up with a competitor.
But wait, was the billionaire breaking his word? Wasn't he saying he wouldn't delve into the oil industry anytime soon?
Soon?
Fine, clearly they hadn't read that closely. The term "soon" could mean a week, a year -- he was the one with the final say. As for why they misunderstood? Well, that was a hard pill to swallow; ignorance was a real disadvantage.
...
"A cyclical industry, huh? Well, that could be a reason. But the real issue is, this guy's making too much money; he needs big projects."
Senior Bush had a sharper eye than his son. With all the money William White was making, he obviously needed to invest it. The guy hadn't even bothered paying off debts.
"Financing, I get, but why doesn't White Oil need financing?"
"The specific reasons aren't clear. The two projects in the U.S. were handed over to Goldman Sachs. That White Center? They entrusted it to Lehman Brothers."
"Tsk, tsk. Looks like I have to face the board for questioning again." After some thought, the old man said slowly, "Isn't it Goldman Sachs that won't let him short sell?"
"Goldman offered a package deal, and the commissions were pretty cheap. That's not the problem; the main issue is, we weren't informed at all."
Fine, the old man could tell that the billionaire was obviously unhappy. If they couldn't express goodwill effectively, William White would abandon their cooperation before long.
The old gentleman wasn't angry; instead, he fell into contemplation. Could it be that the issues with the struggling market weren't entirely random?
The struggling players were getting anxious; their previous plans were unravelling. If the real estate scheme caused them to become landlords, the old-timers in the boardroom would rip the management apart.
Those in trouble weren't exactly foolish either. If they let things slide, their banking systems would be in jeopardy. This consequence was unacceptable, and the government couldn't just turn a blind eye.
You can stir the pot all you want, but then expect things to go south? That's pushing it a bit too far. Since you aren't playing by the rules, there's no need for others to stick to them, either. You might as well give me another whack; it'll be just as well.
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