Dong Qiangqiang's Story of Leaving Germany

Chapter 572

Dong Qiangqiang called Du Lan before booking the ticket, and inquired about her location on the sidelines. On the one hand, he wanted to pretend to care and surprise her by showing up suddenly. On the other hand, he was also worried that if Du Lan was not in Munich at this time Then he's wasted a trip.

Fortunately, Du Lan is not only in Munich, but also seems to be leading a group to participate in the Oktoberfest.

It seems that Lao Bai deliberately tipped himself off, and Dong Qiangqiang couldn't help being secretly grateful.Immediately placed an order without saying a word.Half an hour later, he was already on the high-speed train bound for Munich.

The track from Hannover to Munich is more than 500 kilometers long, and even the fastest German high-speed rail ICE takes 4 hours to run.

Dong Qiangqiang didn't care to appreciate the scenery along the way, and took out his laptop and thick books of "International Financial Reporting Standards" and "U.S. General Accounting Standards" from his bag and spread them on the table.Since he had looked up all the new words in the second report last night, he only needed to do a good job in reading comprehension today to complete the task.

Probably because the first article put in a lot of effort, so the interpretation of many accounting terms still remained in his mind.Accompanied by the regular turbulence of the train, Dong Qiangqiang spent three and a half hours reading all the articles bit by bit.

He leaned tiredly on the back of the train seat, while slowly rubbing his temples with his thumb and middle finger, while slowly sorting out what he had read this week in his mind.

Enron was founded in 1985 and is headquartered in Houston, nicknamed "Space City" on the east coast of the United States.In addition to Enron, there are another 500 large companies in the Fortune 21 in the United States and the famous Johnson Aviation Center.

Enron's main product is a global platform that facilitates electricity and natural gas transactions.Energy suppliers and energy purchasers around the world can find suitable parties A or B through its platform.When the business is concluded, as an intermediary, Enron will naturally charge a platform fee in return, and platform income is its main source of income.

According to Dong Qiangqiang’s public information on the market, Enron in its heyday was ranked No.500 in the Fortune 7 companies in the United States.Its business fields cover more than 2000 countries and regions around the world, and it employs more than 1010 people worldwide. After being listed, it is even more honorable. It has won the reputation of "the most innovative company in the United States" for four consecutive years.

If judged based on the information on paper, Enron should be a high-quality company that will not cause problems, but it happened that it was publicly questioned by a partner of a well-known American investment institution at the beginning of the year about its revenue and profit figures.Since then, there have been more and more institutions concerned with (zhì) and (yí) Anran.

Enron, who was placed under a magnifying glass, was then discovered by a financial reporter that the CEO of the company, who was still a member of the company's board of directors, actually dumped the company's shares through an offshore financial company curve, which was expressly prohibited by the US Securities Law.

Seeing that October 10, the time to disclose the company's third-quarter financial report is imminent, one after another, almost all investment institutions with stocks or bonds in it are selling crazily. The company's market value It keeps evaporating at an average speed every day, and there are no investment institutions in the capital market that are optimistic about it.Rumors that it will soon face a default on its huge multi-billion-dollar bonds that are about to mature are even more rampant.

Seeing him getting up from Zhulou, seeing him entertain guests, seeing his building collapse, is the truest portrayal of Anran Company at this time.

After gaining a better understanding of An Ran, Dong Qiangqiang called Duanmu to share his understanding with him.

"I never thought that a listed company in the United States would dare to act so blatantly." Dong Qiangqiang sighed and concluded, "It's really insightful."

Duanmu was working overtime at home. After listening to Dong Qiangqiang's emotion, he had a good time: "You have only read two articles, and you will definitely have more ideas after you read them all. In fact, it is not a thing for American listed companies to be tricky in terms of income and profits. It’s news, but you haven’t noticed it before. The reason why the market reacted so strongly this time is mainly because of Enron’s size. It’s not the same. Of course, Enron was not the first, and certainly not the last.”

"You said there was such a fraudulent company before?" Dong Qiangqiang cheered up, "Quickly clean up my illiteracy."

He just heard Duanmu start his head, "Then let's talk about the first one...", the mobile phone lost the signal immediately.

The train roared into a tunnel, and the interior of the carriage suddenly went dark.Dong Qiangqiang vaguely heard the roar of the train traveling at high speed in the tunnel through the window (maybe mixed with echo).

Dong Qiangqiang thought he could pass through the tunnel in a dozen seconds, but it took him more than a minute to see the sun again, and the sunny sky before entering the tunnel turned cloudy to overcast after exiting the tunnel.As far as Dong Qiangqiang could see, he could already see a dark cloud with malicious intentions coming towards him from the southeast direction of the sky.

"U.S. listed companies have a long history of falsifying their financial reports. This time, Enron was unlucky. Coupled with 911/40, the U.S. capital market can't bear any negative news about such a giant listed company. Under the joint effect of multiple factors, this nearly US$[-] billion bond that is about to expire is likely to be the last straw that overwhelms Enron’s camel.” Duanmu said.

But Dong Qiangqiang just passed through the tunnel and didn't hear anything. He asked unwillingly: "I didn't hear what you said just now, can you say more?"

"I said that this kind of thing is not only numerous, but also continuous. The earliest financial fraud can be traced back to before World War II, in 1938, in New York, USA, Mikerson Pharmaceutical Company, and in the 80s, ZZZZ Best Co., Ltd., which shocked many financial institutions on Wall Street. The company's financial fraud case, and America Online, which was fined for fabricating advertising revenue last year. It is particularly ironic that not all fraudulent companies will be forced to delist because of fraud, and some of them are still in the capital market Take your place."

"If they are found to be fraudulent, can they stay?" Dong Qiangqiang felt unbelievable, "Americans don't care about these liar companies that stay in the stock market?"

"Don't worry, why don't you care?" Duanmu cleared his throat, and said in a low-pitched voice on purpose, "But if someone cares, someone will interfere. As the saying goes, the way is as high as it is, and the devil is as good as it."

"Why did this happen?" Dong Qiangqiang couldn't figure it out.

"Because there are more or less interest groups behind every listed company. In order to keep their own interests, they can do everything they can." Duanmu paused, "Do you still remember the phrase we often heard when we were young?" How do you say it?'Once there is an appropriate profit, capital will be bold. If there is a 50% profit, it will take risks. If there is a 100% profit, it will dare to trample on all human laws. If there is 300% profit...'"

"'It dares to commit any crime, even at the risk of being hanged.'" Dong Qiangqiang continued following Duanmu's words, "This is the golden sentence in Marx's "Das Kapital", right? I have also recited it."

"Hey, you're only half right." Duanmu said proudly, "I went to read the original German version. This is the words in one of the notes to Chapter 24 of "Das Kapital". But this sentence is not from the old horse. Original, but someone else's words he quoted."

"Didn't Marx say that?" Dong Qiangqiang was surprised when he heard the station announcement from the loudspeaker above his head.

"Passengers and friends, please note that we will arrive at Munich Railway Station in 10 minutes. Passengers who want to get off the train should bring their luggage. This time the parking time is short, please do not stay in the aisle if you do not want to get off the train. Thank you for your cooperation."

"Yes, the copyright owner of this sentence is the British economic commentator Toyodenning," Duanmu said humorously, "Even Marx and other old people must respect intellectual copyright."

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(End of this chapter)