Hollywood Hunter

Chapter 1101 - Beating the Snake by 7 Inches

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Westeros headquarters in midtown Manhattan, New York.

Michael Jordan, Chairman and CEO of Westinghouse Electric, was invited to arrive on time and was only waiting in this reception room for a moment when Simon Westeros pushed the door open and got up to greet the other man, "Hi Simon, good to see you."

"Hi Mike," Simon shook hands with the white executive who shared his name with some legendary basketball star, and they sat down together on the couch, smiling, and continued, "I just heard you were in New York, and I wanted to take the opportunity to talk."

The A-girl brought in coffee, and Michael Jordan waited a moment for Alison to leave before he could say, "Simon, what can I do for you today?"

Simon took a sip of Alison's freshly poured coffee and relaxed on the couch, looking across at the head of Westinghouse Electric: "Mike, the unit at the Rivne nuclear power plant in the Ukraine will be opened in the middle of this year, and when Westeros helped pull the strings to work with Westinghouse, we all had a good time, didn't we?"

Michael Jordan echoed the nod: "Of course."

Two years ago, the construction of the No. 4 unit of the Rivne nuclear power plant in Ukraine, through the collusion of all parties, the original project that could be done with $500 million, the cost directly doubled to $1 billion, of which the profit can be imagined, and under the umbrella of the Westeros system, Westinghouse Electric got $600 million of the share, can be said to be the biggest beneficiary.

Michael Jordan is not a fool, he has heard of many things during this period, so he can roughly guess the purpose of Westeros to invite himself over. However, as the head of a long-established industrial giant, Michael Jordan was reluctant to take the initiative to go soft, and it was up to Westeros to decide what it wanted.

Simon was in no hurry at all, then said: "In addition, I also know that Westinghouse Electric recently is in contact with the Chinese government for some power cooperation projects, it just so happens that, as you know, I have a good relationship with the Chinese government, perhaps I can help?".

Michael Jordan smiled expectantly, "Simon, if that's possible, that's great."

"Heh, actually I also know that Westinghouse is mulling the sale of its power division, both conventional and nuclear, and is now pursuing orders just to increase its offer leverage in the sale, right?"

Michael Jordan finally couldn't take it easy this time and showed his shocked expression.

After the acquisition of CBS, in order to further expand in the media field, Michael Jordan intended to let Westinghouse Electric to carry out a complete transformation, and just recently had secret contact with Germany's Siemens, intended to sell the conventional power business, and Westinghouse's leading nuclear power business, also in the next few years, among the sale.

No more than a handful of people in Westinghouse knew about this, and Michael Jordan did not expect Simon Westerlo to know about it anyway.

Simon's knowledge of this matter is mainly a memory.

The history of Westinghouse Electric's 'self-inflicted ruin' of successive sales of its core businesses in the late 1990s was so shocking that Michael Jordan was ironically accused of being a business spy planted at Westinghouse by General Electric head Jack Welch. Knowing the outcome in advance, and with a little probing based on the vast network of contacts the Westeros system had at this time, Simon easily learned more about the situation.

After a moment's hesitation, Michael Jordan finally stopped playing the fool: "Simon, I'm sorry, but I didn't know about some of the criticism that CBS made against Ygritte the other day. With that said, after a pause, Jordan added: "So, Simon, I'll fire all those responsible for the relevant news scheduling, do you think that's okay?"

"Very well, Mike, I love smart people who understand each other without too much bullshit," Simon nodded slightly, then the conversation changed, "But this is just a small thing, I want you to do me another favor."

"Please?"

"Westinghouse Electric ends all deposit and loan settlement business with Mellon Financial Group and completely disassociates itself from it."

Michael Jordan sniffed.

Westinghouse Electric and Mellon Financial are both headquartered in Pittsburgh, Pennsylvania, and the Mellon family has a century-long relationship with Westinghouse Electric, which might not have survived the Great Depression without the Mellon family's help.

Let's leave that aside for now.

Simon Westeros brought up this matter at this time, which made Michael Jordan immediately foresee that this young tycoon was preparing to make a move against the Mellon family, which was simply an accurate way of hitting the snake with seven inches!

The Mellon family's involvement in many industries at this time, such as Alcoa, Chevron, Warner-Lambert, etc., is limited to a single field, and with their small shareholdings, their influence can be limited. Mellon Financial Group, on the other hand, has influence over the entire state of Pennsylvania and other surrounding areas. Once they lose control of Mellon Financial, the Mellon family's influence in the Commonwealth will be reduced by half, if not directly.

By the way, Simon's intention to do this was an idea that came to him on the plane back from China some time ago, when he was reading up on the Korean government's handling of the Hanbo Steel bankruptcy.

The industry is the organ, and finance is the bloodline.

Simon intended to dispose of the Mellon family's 'bloodline' which had influenced and controlled the economy of the surrounding area of Pennsylvania, at which point, seeing that Michael Jordan was momentarily shocked and speechless, he continued: "Mike, this is not a big deal for Westinghouse Electric, as long as you agree, I can immediately arrange a replacement. The bank took over Westinghouse's business, and there are definitely good deals to be had. That's one of them. Also, I know that Westinghouse's purchase of CBS is just the beginning, and that in the next few years, you plan to make a complete transformation of Westinghouse into the media sector, which is a great idea. It's depressing that the current Hollywood seven, Disney, Paramount, and Columbia are all occupied by foreigners, and it would be a good result if Westinghouse could take over in the future. With your permission, I can promise to help Westinghouse Electric consolidate in the media field over the next few years. You know, it's hard to make it big with just TV, or just movies, and the future of Hollywood is the world of diversified media giants."

Once again, having been blindsided by the young man in front of him, Michael Jordan was even a little frightened, forcibly calming his flip-flops, and looking across at the young man, he said, "Simon, the Westeros system and the Mellon family shouldn't have any dealings, and I don't understand why you're doing this."

"If you want an answer," shrugged Simon, "it's kind of personal."

Simon has never been one to be calculating, and even, two lifetimes later, and to this point in his position, there are few things in the world that could make him slightly angry.

It's just that this has never been a world where you can be generous in exchange for someone else's generosity.

If the Mellon family had provoked him, he would have had to step back.

Of course, deep down this is just an excuse.

In the end, it's a struggle for control of the country.

The United States has been controlled by various old-money families for as long as a hundred years, through an intricate web of entangled interests. Simon, the fast-rising new-money junior of the last decade, wants to gain control of the country to match his own wealth, and can only bring down the old-money families that currently hold such power.

There is only so much power in this country, and it's not a win-win situation; it's a zero-sum game.

So it's a zero-sum game.

And in order to ensure the development of the entire Westeros system and the safety of his own wealth, Simon also had to do it. Otherwise, the more the old money power is allowed to continue to hold the power in the country, the bigger the Westeros system will become, and the more it will become a sheep in the eyes of the powers that be.

Michael Jordan is also aware of Richard Mellon Scaife's private conspiracy to try to short tech stocks to combat the Westeros system, but he has no way of knowing the deeper inside story.

A personal vendetta from Simon now would not have helped him at all.

Only, now that he was sitting in this office, Michael Jordan understood that he had almost no second choice.

Simon Westeros has just talked about giving Westinghouse Electric all kinds of help, but the subtext is very simple: if he doesn't agree, the 'help' may turn into 'hindrance'.

On the Chinese side, with the influence of the Westeros system, Westinghouse could lose the opportunity to compete for those potential partnerships with just one word.

In the media sector, when Daenerys Entertainment bought ABC Metropolis, it even took the initiative to compromise in order to avoid CBS's antitrust review obstacles. The powerful Daenerys Entertainment needs to do this, in turn, Westinghouse Electric wants to make its own media business from small to large, any step, there is no way to avoid each other, not to mention the Westeros system and Washington's increasingly close relationship, want to make Westinghouse difficult, perhaps also just Simon Westeros's words.

On the other hand, Westinghouse's complete withdrawal from Mellon Financial, in addition to making the century-old friendship between the two sides disappear completely, even without the blessing of the Westeros system, the Mellon family could not do any harm to Westinghouse.

In the end, it was the fundamental disparity of power that left Westinghouse with no choice.

Quickly clearing up the joints, Michael Jordan finally made up his mind: "Simon, I can promise you. But, frankly, just ending Westinghouse's partnership with Mellon Financial won't have much impact on the bank."

Simon smiled, "As long as you say yes, the rest is up to me. In that case, Westinghouse can prepare to make a public announcement about it tomorrow afternoon, and I'll get the Ygritte portal to cooperate with a release."

Michael Jordan was once again shocked.

Tomorrow afternoon, that is to say, even if he had a preference for the Mellons or something like that, there was simply no time to spin it.

After the meeting with Simon, Michael Jordan, who was still in New York with some business to take care of, flew back to Pittsburgh to set up without any further delay.

The next day was Wednesday, February 26th.

Michael Jordan was still in bed in the morning when he received a phone call from his assistant, who immediately faxed over a copy of an article in today's New York Times: "Mellon Financial, Inc. and Members of the Mellon Family Allegedly Conspired to Commit Loan Fraud, Federal Reserve and Office of the Comptroller of the Currency Launch Joint Investigation".

The article details how Richard Mellon Scaife and other members of the Mellon family worked with Mellon Financial Group executives over the past few months to illegally obtain nearly $600 million in loans to speculate in the technology stock market.

The Mellon family went from application to loan in less than a week, with serious irregularities in the review process.

Collateral provided by members of the Mellon family, such as stocks, was significantly overvalued and the loan was allegedly secured by fraud.

The Mellon family declared the purpose of the loan as industrial investment, but it was actually used for stock futures speculation, which resulted in a loss of nearly 90%, bringing huge risks to investors and suspected of misappropriation of funds.

The above violations, as well as the active cooperation of the Mellon Financial Group executives, were also major financial crimes.

In response, the Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) are forming a joint investigation team to look into the criminal activities of the Mellon family and the Mellon Group.

Michael Jordan stood in his pajamas at the fax machine reading this press release, and for some reason the first thing that came to mind was the actions of Simon Westeros during the crash of '87. According to later revelations, Simon Westeros had pledged the proceeds of Lola Run to obtain large sums of cash to short the stock market before the crash, which, in detail, also involved serious violations.

Only, that time, it turned out to be a big win for Simon Westeros.

The victor was not to blame.

This time, the Mellons were not so lucky.

In fact, if the Mellons had not provoked such an opponent as Simon Westeros, it would not have been a big deal, even though the last few months of speculation in technology stocks cost the Mellons a lot of money.

But the problem is that they are afraid of being taken seriously.

Even, not only the Westeros system, the White House side, this time there must also be force, after all, Mr. President is still caught in Richard Mellon Scaife smashed money to dig up all kinds of scandals.

If there is no Simon Westeros as a support, even if the knowledge of this matter, the White House side can only swallow their anger, after all, the big butler after all can not fight with the big boss behind the curtain.

Now that there is another big boss with even more money and influence, of course, there is no question about it.

With the New York Times article already followed by the Internet, television and other media coverage, the day of February 26, for the two-century-old Mellon family, it was a disaster.

At the opening of trading that morning, Mellon Financial's stock price collapsed directly, falling to 11% in just five minutes. After the incident was exposed, the Mellon family could no longer obtain funds from other channels to cover the deficit, and Mellon Bank could only sell the mortgaged stocks to cover the loss.

That's not all.

In the afternoon, Westinghouse Electric made another stab, announcing that it was pulling out of all cooperation with Mellon Financial, which caused a stampede effect for a while.