novelweb Chapter 631 Enron can't go bankrupt
Chapter 631 Enron can't go bankrupt
Just as Director Wang was about to write and sign his signature, the secretary hurried up to him and whispered in Director Wang's ear, Leader, something happened to Enron. An article was published in the latest issue of the American Fortune magazine, secretly Refers to Enron’s false profit reporting.”
The secretary said, and handed over the Fortune magazine.
Director Wang has a master's degree in engineering, so he can understand English naturally. Although Director Wang does not recognize some financial terms in the article, he can still understand the entire content of the article.
After reading this article, Director Wang frowned. At this moment, he remembered Li Weidong's speculation.
Anran Company really has a problem, and this Li Weidong has confirmed it! Could it be that Anran Company will really go bankrupt? If that happens, it will really affect the construction of the entire West-East Gas Pipeline Project.
Lin Mancang saw Director Wang put down the pen in his hand, took an English magazine and read it for a while, and then his expression became stagnant, so he asked, Director Wang? What's wrong?
Director Wang pondered for a moment, and then said, Mr. Lin, leave this contract with me for now! After I sign it, I will send someone to send it to you.
Lin Mancang suddenly showed an anxious expression, and he asked, What happened?
There may be a problem with Enron in the United States. I need to contact the staff in the United States to find out the details. Director Wang replied.
In Fortune magazine, an article titled Is Enron's Stock Price Overvalued appeared, and the author was Bethany McLean.
In terms of finance,
Fortune magazine is still very authoritative, unlike The Economist\
,"Shouting for China's collapse every three days,
It lasted more than thirty years.
If you work on Wall Street,
Fortune is definitely a must-read magazine.
Thanks to the 20,000 US dollars sponsored by Li Weidong, Bethany McClain found a professional accountant,
I went to review Enron's financial reports in recent years, and then used a lot of data in the article to question Enron's profitability.
Of course Bethany McLean can do it,
It can only be questioned. Although it is obvious that there is a problem with Enron's profitability, Enron's fake accounts are very rigorous, and there is no problem at all from the numbers.
However, after McClain’s article was published, how did Enron make money, and how did the myth of Enron’s stock keep rising?
It has become a problem for countless ordinary investors.
This article can be said to stir up a thousand waves with one stone,
Enron is one of the hottest companies in America,
There are countless investors who invested in Enron. When the question of how Enron makes money comes up,
These investors were all waiting for an answer from Enron.
However, Enron did not answer this question.
In the face of doubts, Enron did not answer positively,
I just made a few statements that didn't hurt or itch,
It seems to be telling everyone in the media that I really have a problem!
Next, the media, relying on their powerful investigative capabilities, pieced together the facts that Enron had invested heavily in the world in recent years, but it had not made any profit, or even lost money.
Just like Enron in India,
A power plant built with an investment of 3 billion US dollars,
However, because of the high price of electricity, the Indian government refused to purchase the electricity delivered by the power plant.
This deal, Enron was also tricked by the Indians.
India first draws a big picture, such as how dynamic the Indian economy is, how big the market is with such a large population in India, and investing in India will definitely make money, etc., fooling Enron to build a power plant in India.
Enron's decision-makers were also stupid. They believed the Indians' words and believed that India was a big market, so they really invested in India.
After the power plant is built,
The Indian government also said that the electricity price of the Enron power plant is too expensive,
Ask Enron to lower the price,
Otherwise none of them would buy Enron's electricity.
India's plan is that you have invested 3 billion US dollars, and the power plant has been built. If you don't sell electricity, the investment will be in vain. So I will use this method to force you to reduce the price, and then India will have cheap electricity.
Enron's idea is that there are hundreds of millions of people in India who do not have access to electricity, and industrial production also requires electricity. If there is no electricity, your Indian people will continue to live in the dark, and your factories in India will not be able to produce. , so you can’t make money, and you will encounter problems in India’s development and economic growth.
Both sides thought that you wanted something from me, and as a result, things came to a stalemate. One side just thinks it's expensive and doesn't buy it, and the other side just kills it and doesn't lower the price!
In fact, this is a win-win deal. If both parties take a step back, Enron can make money and India can get electricity.
As a result, both sides like to be confrontational, and finally formed a result of mutual losses, and no one benefited.
This is actually caused by the difference between American thinking and Indian thinking.
American values are more inclined to zero-sum thinking. They believe that if one party gains benefits, the other party must suffer losses. The more benefits one gains, the more losses the other party will suffer.
So it is called zero sum.
And the Americans have sat in the position of world leader for too long,
Accustomed to gaining profits, thinking that making profits is a matter of course,
Others' gain is their own loss.
It is also because of zero-sum thinking that Americans often wield the so-called sanctions stick, because in zero-sum thinking, the opponent's loss is his own gain. I sanction you, and you suffer losses, which is what I earn. .
This is roughly equivalent to, if I poke your pocket and lose your mobile phone, it means that I have earned a mobile phone. It's the same logic as going out without picking up something and throwing it away!
Win-win cooperation probably won't appear in the American dictionary. And Kill the enemy one thousand and lose eight hundred, in the eyes of Americans, it means that I have earned you two hundred!
Under the blessing of this zero-sum thinking, Enron did not agree to India's request. They would rather the power plant not operate and leave it there slowly abandoned, and they could not lower the electricity price.
Electricity crises have occurred in many states in the history of the United States, which is probably caused by this zero-sum thinking.
When electricity consumption increases, the Chinese respond by increasing electricity supply to meet demand, while Americans respond by raising electricity prices.
As electricity is a commodity, the demand has increased, so the price must be higher. If I still sell it at the original price, wouldn’t it be a loss?
The selling at a loss mentioned here does not mean selling at a loss, but not earning more.
In zero-sum thinking, I could have earned more, but in the end I didn’t earn that much, and I suffered a loss. This is absolutely not possible!
Gu Xi and the Indians can only let me earn yours, not let you earn mine. In order to prevent you from earning mine, I would rather not earn, or even suffer some losses.
India is open to foreign investment, but the premise of opening is that you can invest, but you can't earn my money from India. If you are here to earn Indian money, sorry, you are not welcome in India!
Investors are not fools, they won't let me make money, so why should I come to invest and do charity?
The end result is that investors abandon the Indian market, and India also loses an investment, a lose-lose situation.
For example, the Indian Railways once announced a tender for the transformation of a railway in India, and in the end a Chinese company won the bid.
India didn't want Chinese companies to make this money, so they found a reason to cancel the bidding directly, and then restarted the bidding, adding that only Indian companies can bid, and they want to leave the opportunity to make money to the Indians themselves.
As a result, the technology of the Indian company could not meet the engineering requirements at all, so several years have passed, and the project is still standing still.
India has done a lot of similar things, especially in terms of trade, imposing a ban or increasing tariffs at every turn, in the name of using this method to force companies to produce in India and drive India's industrial capacity.
However, India needs raw materials but does not have raw materials, transportation is not available, workers are lazy, companies want to invest, and they really do charity. As a result, corporate income has decreased, and India has no products available. India has successfully harmed the interests of other countries in its own way.
Of course, there are also some leading companies to invest in setting up factories in India, but only the companies themselves know whether they have made money in the end. Anyway, according to the latest news, Xiaomi, which is better in India, has just been fined 6.5 billion rupees.
The same is true of the Anran power plant. The Indians said, I would rather not use electricity. The common people will continue to light oil lamps, and the factories will do manual work, and they will force you to lower the electricity price.
This is very similar to the gangsters in Jinmen in the past. When collecting protection fees, they first stabbed themselves twice and asked if you were afraid! You're not afraid, are you? Believe it or not, I'll die at your door, and you'll have blood all over your face!
One is zero-sum thinking, and you must not make less money; the other is really stupid, I would rather die than let you make money. The final result was that the power plant was directly scrapped, and Enron's 3 billion investment was all in vain.
Enron still has a lot of failed investments like this. In Brazil, the Philippines, Bolivia, and even in developed countries like Germany and Japan, Enron’s investments have all lost money!
The success or failure of these investment projects and the results are easy to verify. For example, whether the power plant in India is in operation can be known at a glance. You can even make a long-distance call and ask a local friend to find out, without spending money. Get an accountant to check the books.
So the media quickly dug up the failure of Enron's investment project.
So here comes the question, since Enron's investment always fails, with billions of losses at every turn, how do you earn the profits written in the financial report?
For a company of Enron's size, if it falsified its financial report, it would be flawless, and it would be impossible for a few accountants to find loopholes. Unless it is the intervention of a national-level investigation agency.
Therefore, if we start from the financial report data, it is estimated that Enron's financial report fraud will continue to be concealed.
However, starting from the investment failure of Enron, it is easy to find that Enron's profits are false.
The eyes of the whole United States are focused on Enron, and countless accountants on Wall Street are looking for loopholes in Enron's financial reports.
As for Enron's auditing service, Axinda Accounting Firm is one of the top five accounting firms in the United States. The accounts they make can be said to be flawless, and it is so easy to find loopholes!
However, it is precisely because it is under the spotlight and has become the focus of public opinion that Enron dare not continue to make fake accounts in the next financial report, so their latest financial report shows that the company lost 618 million US dollars last quarter.
A quarterly loss of 618 million, a year is a loss of 2.5 billion, which is not much for Enron's size.
But according to Enron's financial report last year, Enron had a revenue of 100.8 billion U.S. dollars last year!
In just one year, from a profit of 100.8 billion U.S. dollars to a loss of 2.5 billion U.S. dollars, no matter how stupid investors are, they have already understood that Enron has problems, and the problems are very serious!
In the conference room, a group of experts were having a heated debate on the matter of Enron.
Lin Mancang of Huafu Gas and Li Weidong both participated in this seminar, after all, they are both parties involved.
Judging from the information released by the media so far, Enron's profits are definitely fraudulent. And news just came from the United States today that the US Securities Commission has started investigation procedures against Enron. The expert spoke.
I'm also paying attention to the progress of the Enron incident. The second expert went on to say, The project that Huafu Gas is responsible for this time is the technical support provided by Anron. It may affect the construction of our project and cause delays in the project.
For such a large project, it doesn't matter if it is delayed for ten days and a half months. I am more worried that it will directly lead to the shutdown of the project. If half of the construction is stopped, it will cause damage to our entire West-East Gas Pipeline Project. This is One point, we have to guard against it!
This time it was an older expert who expressed his opinion. He showed an expression of recalling the past, and then said: I have personally experienced similar things. In the late 1950s, we had many projects because foreign engineers withdrew. Go, but had to stop. Some of these projects never resumed after stopping! We must learn a lesson!
Some people also expressed different opinions: Enron's investigation does not affect Enron's natural gas pipeline technology. Even if Enron really cheated and was punished, the punishment will not punish Enron's natural gas pipeline transportation. technology.
That's right, whether Enron cheated accounts or was punished, Enron's natural gas pipeline transmission technology is the world's number one. As long as Anron continues to provide technology to Huafu Gas, the project will not be affected. Construction. Another expert said.
After hearing the opinions of these two experts, Director Wang looked at Lin Mancang and asked, Mr. Lin, can Huafu Gas guarantee the technical supply of Anran Company?
Of course, Huafu Gas has signed a contract with Anran Company. Lin Mancang nodded without hesitation, and continued:
The scandal of making fake accounts will affect Enron's reputation, but it will not affect Enron's technology. As long as Enron does not go bankrupt, they must provide us with natural pipeline technical support according to the contract, so our Engineering construction will not be affected!
But what if Enron goes bankrupt? an expert next to him asked.
Hahahaha! Lin Mancang couldn't help laughing, and then said slowly and confidently; How could Enron Company go bankrupt! To put it bluntly, even if our Huafu Group goes bankrupt, Enron Company cannot go bankrupt!
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