Chapter 569: Chapter 570: Record-Breaking


    ?


    [Chapter 570: Record-Breaking]


    Back at the mansion, Chris detailed the series of operations regarding Nokia Group''s acquisition to Eric.


    "...Since Nokia''s sales operations increasingly focused on international markets, we set up an international salespany in Irnd. This allowed us to consolidate all revenue from outside Find there, enabling us to pay only about ten percent in corporate taxes. This way, we could funnel significant amounts into an offshore fund located in the Caribbean. Nokia''s overall tax rate would remain around ten percent; if we set up salespanies in each European country, the tax rate would be at least twenty percent."


    At this point, Eric suddenly recalled the "sandwich" tax avoidance strategies of major international tech giants like Apple and Google. Looking up, he noticed Chris showed no indication of being concerned about such matters. Eric thought for a moment but ultimately decided to keep his thoughts to himself. After all, Chris and Jorma Oll were undeniably smart. Furthermore, every multinational corporation had departments dedicated to researching tax strategies. If there were cheaper tax avoidance options avable, they wouldn''t ignore them. For him, a high schooler who never even attended college in this life, to propose a scheme using Nokia''s brand intellectual property and exploiting the zero-tax loopholes among EU nations would seem entirely out of ce.


    Chris felt Eric''s moment of hesitance and continued speaking, "We acquired a 51% stake in Nokia, which is entirely held by the Hawaii Fund set up in the Caribbean. Based on the current development situation, Nokia Group''s business is set to experience explosive growth over the next few years. The $420 million we injected will only cover R&D and marketing expenses for less than two years. As you requested, Nokia will restart its listing n on the New York Stock Exchange in 1995, at which point we will have controlling shares."


    At this point, Chris suddenly raised his head and asked, "Eric, I remember that when we invested in America Online, you also requested it to go public after 1995. Is there something special about that timing?"


    "It''s not just America Online. I n to have severalpanies, including the browser softwarepany, Yahoo portal, and Hotmail email service, as well as Firefly Software spun off from Firefly Films, and Digital Domain, all go public in the two years following 1995," Eric was prepared for Chris''s question. Although the reasoning he provided wasn''t entirely urate based on his memory, it was definitely reasonable. "1995 marks Clinton''s third year in office, and his administration''s information superhighway initiative is expected to take effect early that year. For techpanies, this represents the best moment to go public. If we miss that window, we can''t predict what policies the next president might implement if Clinton doesn''t get re-elected."


    Chris nodded in agreement as they discussed various matters. He then closed the documents in front of him and said, "Eric, are you really nning to acquire Leslie Wexner''s LTD?"


    "Yes, after attending the fashion show at Bryant Park during Fashion Week, I had some great ideas. Fortunately, LTD''s Victoria''s Secret brand can help me realize this n."


    "But Victoria''s Secret is an underwear brand, right?"


    "That''s exactly what I want: an underwear brand. Leveraging this brand, I n to create a series of reality shows once Firefly acquires a televisionwork and transform Victoria''s Secret into a cultural icon."


    "Isn''t there the Brighton Apparelpany? The quality between the two brands is quite different..."


    "Chris, which would you prefer to see: a pretty, curvy lingerie model or a runway model looking as stiff as a stic doll?"


    Chris chuckled and replied, "Well, with that in mind, the investmentpany can''t assist with the televisionwork acquisition n in Los Angeles. By the way, I just got back yesterday and received a call from my former boss at Morgan Stanley, Mr. Ritchie, asking if Firefly Film would issue bonds. I didn''t disclose anything, just said I would mention it to you."


    The acquisition of the televisionwork had just begun, and Eric hadn''t anticipated that others had already noticed. He asked, "Which investment bank do you think is more suitable for Firefly''s bond offering?"


    "If you truly n to issue tens of billions in corporate bonds like you initially envisioned, any investment bank on Wall Street would fight tooth and nail for that business. However, if you want to quickly secure sufficient funding, I suggest distributing this business among several investment banks. It would be wise to contact some European and Japanese investment banks too; given Firefly''s credit rating, they will offer even bettermission rates."


    Eric noted Chris''s remarks in a memo. "I''ll discuss it with the team in Los Angeles tonight."


    "Then let''s continue our discussion about LTD," Chris said. "From what I gathered yesterday, thergest shareholder of LTD is Leslie Wexner, who holds about 35% of the shares. Based on LTD''s recent stock pricing, thepany''s total market value is $1.47 billion. After acquiring Nokia Group, the investment firm will only have $600 million left, which is merely $100 million more than the market value of Wexner''s shares. Therefore, if we want to proceed with the acquisition, I''ll need to employ some of Wall Street''smon ''dirty tactics.""


    Eric noticed Chris seemed excited when mentioning "dirty tactics." Clearly, as an investor from Morgan Stanley, Chris envied those Wall Street tycoons who leveraged acquisitions to dominate the capital market. Previously, whether acquiring Cisco shares, investing in America Online, or the recent purchase of Nokia Group, Chris had always adhered to standard business transactions without deviation.


    "Chris, you can handle the $600 million entirely on your own; I''m staying out of this. Just make sure you end up securing LTD."


    "Give me three months," Chris held up three fingers. "Additionally, I need Brighton Apparel as leverage for debt financing. After the acquisition, the twopanies might merge


    directly."


    "I said I''d leave this entirely in your hands," Eric replied with a smile. "Chris, this time you can unleash the Wall Street wolf within you."


    "I''ve suddenly developed a fondness for the name ''Wall Street Wolf''."


    Just as the two shared augh, Emily walked through the door. It was already dusk, and they had been so engrossed in their conversation that they forgot to turn on the lights. The room felt dim as Emily saw two powerful men seated across from each other at the desk grinning with mischievous Smirks, giving her a little shiver. She reached for the switch, turned on the light, and let out a sigh of relief, saying, "Hey, gentlemen, I hate to interrupt your scheming, but it''s already seven o''clock. Aren''t you hungry?"


    "Dear, we''ll head over right now," Chris said, gathering his papers while Eric stood up to stretch his stiff limbs from sitting too long, and they all walked toward the dining room with


    Emily.


    Taking advantage of Chris''s trip to the restroom, Emily suddenly leaned closer to Eric. "Eric, have you two discussed that thing?"


    "I''ve handed it all over to Chris. Just wait to be the CEO of LTD," Eric replied.


    "Wow, thank you so much!" Emily clenched her fist in excitement.


    ...


    At the dining table, Emily enthusiastically recounted the series of changes at Brighton


    Apparel.


    Since the stunning marketing strategy during New York Fashion Week more than half a month ago, Brighton Apparel''s brand recognition rapidly expanded across the U.S. and Europe. Although the next season''s clothing hadn''t been officiallyunched yet, thepany''s ready-to-wear sales and orders had significantly increased.


    "...A few days ago, that Leslie Wexner offered us a buyout offer again, this time for $450 million. Ha! That old guy probably doesn''t realize that in a few months, hispany just might end up being acquired by us," Emily eximed.


    Chris couldn''t tolerate his girlfriend''s over-the-top gestures and interrupted, "Alright, darling, do you want everyone to know we''re nning a hostile takeover of LTD?"


    "Of course not! I''m no fool. Do you think anyone here would leak that information?" Emily waved her small hand dismissively. "Eric wouldn''t, Joann wouldn''t, and neither would Ewa. Oh, and you two little sweethearts, Elia and Kevin, you wouldn''t gossip about it, right?"


    In the high chair between Eric and Joanna, little Elia made a little noise in response to Emily, while Kevin just stared nkly at Emily, seemingly disinterested in the conversation. Ewa, who came over again for food, noticed the two kids'' reactions and suddenly asked Eric, "Eric, do you think Kevin is... is he a bit slow? Seems kind of in?"


    Joanna shot her sister a re. "Ewa, don''t say such things."


    Ewa Pac stuck out her tongue but didn''t push the topic further; Joanna''s authority was


    much more effective with her than Eric''s.


    Although Chris and Emily remained silent, Joanna caught the simr curiosity in the


    exchanged nces between Chris and Emily. She gently said, "Vicky checked the little guy before and even tested his IQ; he was fine. The doctor said it''s just that Elia is so lively that itn/?/vel/b//jn dot c//om


    makes Kevin seem overly quiet."


    "Being quiet isn''t bad; maybe he''ll grow up to be a philosopher," Chrisplimented.


    Joannaughed but remained silent, ncing at Eric. She was very aware of Virginia''s thoughts. As Eric''s eldest son, Eric treated Kevin without regard for him being an illegitimate child. Virginia was hoping for Kevin to be Eric''s sessor. If he really became a


    philosopher, Virginia would likely be quite upset.


    "As long as the little guy can grow up happy, that''s all that matters. His future path should be


    his own choice," Eric said, patting his son''s little head.


    Emily opened her mouth to speak but ultimately didn''t say anything. Everyone in the dining room, except Eric, noticed Emily''s little gesture and fell momentarily silent. Chris, concerned that Emily might say something, lightly kicked his girlfriend.


    Everyone clearly understood that what Emily wanted to discuss was how Eric nned to divide his personal wealth, but that issue felt far too sensitive, considering Eric was still


    under thirty.


    Eric was equally aware of everyone''s thoughts. He felt that if he built such a substantial enterprise and left it without an heir, that would be a tragedy. However, Eric was assured that he would never have just two children. He would surely find a sessor for his career. He wasn''t like Rupert Murdoch, still clinging to power into his eighth decade, causing his children tock adequate experience and ultimately fail to find suitable sessors. Even if Eric retired at fifty, that was still many years away. There was no point in worrying about


    these issues now.


    ...


    The next morning, Eric vaguely heard hurried footsteps and opened his eyes to see Ewa waving a newspaper as she entered the bedroom.


    "Eric, Jurassic Park broke E.T.''s box office record! Nine hundred million dors worldwide!


    Nine hundred million!"


    Eric rubbed his forehead, ncing out at the morning light, marveling at how Joanna had more energy than he did.


    Joanna woke up as well, seeing Ewa''s excitementpletely disregarding appropriate manners. She sighed, took the newspaper from Ewa''s hand, and yfully smacked her with a


    nearby pillow. "Ewa, do you not know how rude it is to barge into someone''s bedroom? If you do this again, I''ll send you back to Pnd!"


    Though she was aware her sister was just threatening her and wouldn''t really send her away, Ewa still shrank back a bit. "I just wanted you to know this great news as quickly as possible!"


    "Sending you to Pnd is one thing, but it might be better to send you to ska. Those kinds of ces are perfect for energetic youngsters," Eric joked, pulling Joanna closer against him. "ska? It''s so cold there; I''d rather go back to Pnd!" Ewa protested.


    "Shut it, now get out," Joanna said, shooing her away.


    Once Ewa was sent off, Eric lost any lingering desire to sleep. He sat up and opened the New


    York Times newspaper Ewa had brought in.


    *****


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