American Fortune Life
Chapter 391 Decisions and arrangements
After the fashion show, Ivana, one of Chanel's advertising spokespersons, attended the celebration, which was undoubtedly boring for Andy, and Ivana would not be spokespersoning Chanel after the expiration of her future contract because her brand would soon be on the market.
So they showed up at the party, and after saying hello to some acquaintances, they chose to leave, during which Andy and Ivana had a few conversations with Chanel's Asia president and Mr. Chow.
Mr Zhou was very shocked by Andy's general conversation and understanding of the culture of the rabbit country, and was impressed by it, which made her sigh with some of her friends for a long time after returning home.
“Boom!”
“Shet! ”
As Andy filmed the table angrily in the conference room, everyone bowed their heads and pretended not to hear the boss's dirty words.
Andy calmed down his evil fire and took charge of the acquisition of Newsweek magazine. As Catherine flew to Washington to negotiate, Li Xiaoying yang raised the file in his hand, “Emily, are you sure you're right? The whole building belongs to Newsweek? ”
“No problem, boss, it's just that the building is nearly 60 years old, 315 million was mortgaged to the bank by the Washington Post in 1998, with the exception of 200 million that was set aside for the Newsweek Expansion Branch to acquire some sub-issues, the rest was taken away by the postal group and the loan expires next year.” Li Xiaoying replied with a serious affirmation.
“Damn, it's a skyscraper, 60 or 70 stories tall, and it's just over 300 million?” Andy was a little speechless about it.
“Cough, boss, the valuation of these buildings was fine at that time, when the Chelsea building at 111 Eighth Avenue in Manhattan sold for only $300 million... ”
Andy glanced a little embarrassed at Alvitelli, well, he was a little excited, although remembering the previous $1 acquisition of Newsweek, knowing that it wouldn't be that simple, and now it's on his own, and it turns out, a whole lot of trouble has come up.
“So now I'm buying Newsweek and a 60-year-old skyscraper for $315 million plus a dollar?” Andy looked down at the numbers in the file and said.
“There is also bank interest and a portion of the newspaper's loss...” Li Xiaoying added.
Andy raised his head and looked at her with a grudging look, turning his head to Al and continuing, “What do you think? ”
“For now, boss, if you take over the mess of Newsweek, you'll definitely make a lot of people think of you as fools, but boss, don't forget that Newsweek House is located in Manhattan, and even if the real estate bubble breaks down, house prices plummet, house prices in the Upper East Side of New York don't change much, and maybe there's a slight upside to the market.
I didn't really see this newspaper before, and now I think, boss, we need to finalize this acquisition as soon as possible, so we don't have to worry too much about the $100 million the Post pulls, because this building will definitely get you a couple of times as much reward! ”Alvitelli flipped through the folder in her hand and began to articulate her point of view.
“Basis!” Andy asked.
“After learning about this, the think tank gathered data overnight and made these two graphs...” Al took out two charts and gave them to his assistant, and then someone quickly pulled the curtains, turned off the lights, and turned on the slider.
“This is a mapping of office buildings in the Manhattan region from 1997 to 2004. After 1997, the Science and Technology Unit bubble, represented by Nasdaq, boosted the prosperity of the capital market, the demand for office buildings by financial institutions increased dramatically, and the price of office buildings peaked in 2001 until after 9/11, when it began to adjust dramatically, reaching the bottom in 2004.
And then, for reasons such as the Fed's ongoing expansionary monetary policy, which has driven up real estate prices in the United States, we all know what's going to happen in the future for a while, but for now, the price of the office building has reached its highest point, and I want to wait for the crisis to come, but, ladies and gentlemen, the annual rent for the office building is now $69.58 per square foot, and the vacancy rate is just under 5.3%!
As the central city of New York, the world's largest city, Manhattan's office building market is more mature and stable than any other market in the United States, even globally, highlighting low vacancy rates and rapid warming during fluctuations.
Boss, I can assure you that even in the event of a crisis, two years, at the latest three years from now, the rental of the Manhattan office building will return to current prices.
Taking the Chelsea Building just mentioned, for example, which sold $300 million in '98 and had an asset valuation of $800 million in 2004, it's also a decades-old building, and I'm sure the Weekly News Building will only be worth more than less! ”
Andy squinted his eyes, looked at the data on the screen, waved, someone immediately turned off the machine, opened the curtains, looked at Li Xiaoying, “Do you think the other party's terms are acceptable? ”
“Without pursuing that $115 million, the acquisition would be perfectly fine, and the postal group is now in desperate need of getting rid of the baggage, and by reaching out to me I find that the postman in charge of the newspaper has little confidence in the future of the newspaper, more of a constricted operation of the postal service, which is too modest and prudent. What I see is a busy old newspaper group. ”
In fact, Li Xiaoying still hasn't said anything. She even felt that Catherine didn't like to run newspapers at all. More importantly, she forced herself to take over because the power of the family industry was not sidelined. She could even guess the ultimate fate of the newspaper group and would undoubtedly be changed hands.
“In that case, in case anything unexpected happens, you guys get ready, we fly to Washington this afternoon, Al, notify Jon Micham, Tory, call to pack a private plane... ”
Now that the decision is made, naturally you can't drag the mud with you, Andy won't let the duck fly away and start splitting the labor for everyone. Little assistant Tory twisted his butt, picked up the minutes of the meeting, and Marie stepped out of the conference room and called the airline.
After the meeting, Andy went back to his office and took out his phone and called Ivana.
“Hey, go home at noon, pack your bags, you need to fly with me to Washington, we'll talk about the specifics when you get home, you arrange a job, maybe you need to stay in Washington for a few days... ”
Hanging up the phone, sitting in the boss chair, Andy playing with the phone in his hand, thinking.
After the signing of the takeover agreement, this was just the beginning, and it would be unmistakable if the Newsweek magazine were to remain obsessed with the Washington administration for decades, especially the White House, and become the target of Washington's focus.
But now that Andy Smith has taken over Newsweek, naturally he won't let it go on, and while he won't completely subvert the news philosophy of Newsweek, he won't let it and his previous relationship with Washington get so bad.
He needed to use the influence of his family and his grandfather to break the impasse, and to think about it, Andy picked up the desktop and started dialing.
“Good morning, Grandpa. Am I disturbing you? Is it convenient to talk now? ”
Old Smith sat in his congressional office, laughing and saying, "Are you okay? You're not gonna call me at all. Go ahead, what's wrong? ”
Waving his hand, he asked all the assistants in his office to leave, circle behind the table and sit on a comfortable boss chair.
At first smiling face, suddenly smiling stuck, a little surprised to confirm: "Andy, are you serious? So that's it? We're about to sign a contract... Well done, very well done! It's a big surprise, great, go ahead, tell me what grandpa needs me to do... ”
Hanging up the phone, the smile on old Smith's face was even brighter, his grandson was becoming more and more comforting, joyful, and in a great mood. To be honest, Andy's acquisition of Newsweek was an unexpected surprise to his party whip.
It is undoubtedly good news that a stabbing media with great global influence will soon belong to the Smiths family, which, as an old-fashioned political family, although it also controls the shares of some newspapers and television stations, is not its own after all, and the Smiths family has not had commercially talented offspring for so long, besides lawyers, doctors are artists, let alone the media industry.
Now Andy has not only achieved tremendous commercial success, but has also gained tremendous influence and voice in the media publishing industry, and it is not uncommon worldwide for a 22-year-old to spend less than a year doing so.
At a certain moment, Old Smith even tried to break the tradition and put some family resources in Andy's hands, but hundreds of years of family creed made him suppress this impulse, it was about family heritage, something he didn't decide alone, he had brothers.
“Not in a hurry, not in a hurry, look again, maybe you can consider where your family hasn't wanted to sit for a long time... ”
Looking at his family two years ago in the frame on the table, his own son, Auston, and a gloomy face of Andy, his eyes stopped on Auston's face.
After a moment of silence, Old Smith reached out and pressed on the telephone answering machine, "Let David in. ”
Soon a middle-aged man about 1 m 8 tall, slightly skinny and a little thankless, knocked on the door and walked in.
“Mr. Smith, you wanted to see me? ”
“Sit down, David. How many years have you been working for me?” Old Smith looked into his own eye socket and a pair of big eyes twinkled JING's bright David Hurley.
“It's been eight years...” David was a little unclear, so he answered with confusion.
“Eight years, uh, David, didn't think of a new job... ”
David looked a little stunned at the point of putting the cigar on, smiling at his old Smith, full of fog.