When will I have a long tassel?

"But……"

Zhang Shu hesitated for a moment, and finally said bravely: "Zifeng, I heard that some factories will let the management hold shares when they implement demutualization. When you talked with Director Xie, he said the specific policy ?"

Hearing Zhang Shu say this, everyone turned their attention to Tang Zifeng. The expressions on everyone's faces were very different, but they were all obviously interested in this issue.

Management shareholding is a very popular concept nowadays, and it is said that it was introduced from Western countries. The meaning of management shareholding is that in the process of demutualization of the enterprise, a part of the shares are allocated to the management. This can be done by giving them away for free or by purchasing them with capital from the management, but the purchase price is The price is much lower than the market price, which is considered as a benefit to the management.

The purpose of management shareholding, according to economists' explanation, is to mobilize the enthusiasm of management and solve the "principal-agent dilemma".

Economic theory holds that enterprises are owned by shareholders, and management is only entrusted by shareholders to engage in business management activities. Since whether the company makes money or not has nothing to do with the interests of the management, the management will tend to be extravagant, use the dividends that belong to shareholders for various squanderings, or engage in some irrational investments that harm the interests of shareholders.

In order for the management to regard the enterprise as its own property, the management must also become a member of the shareholders, that is, through the method of management shareholding, the management can own part of the shares of the enterprise. In this way, the management is working for themselves and will naturally be more diligent and conscientious. As long as the country pays a small amount of equity, it can buy the loyalty of the management. Why not?

This theory sounds rich, but in reality it is very skinny. Those state-owned factory directors and managers who are unwilling to work hard because they don't have shares, how can they work hard even if they get a small amount of shares? Think about it, the main equity of the company is in the hands of the state, and the management only owns a small fraction. Even if they can pay dividends, it is only three melons and two dates. Can they satisfy their desires? In comparison, they might as well take advantage of the power in their hands to harm the public and enrich themselves. For such a large company, it is much better to just get a handful of money than to wait patiently for equity dividends.

Of course, if the state is willing to donate half of its equity to these factory directors and managers, perhaps they will be satisfied. But what virtues and talents do these people have that deserve the country to give them so many benefits for no reason?

Of course, these things were only gradually realized by people later. Nowadays, academic circles are vigorously advocating the management shareholding of state-owned enterprises, and many officials in government departments have also been brainwashed by this concept. They feel that since it is a method passed down from the West, it is naturally good. The central government has proposed a market economy, but we have no experience. Western countries have been practicing market economies for hundreds of years. If we don’t learn from the West, who can we learn from?

Of course, those who are most interested in management shareholding are state-owned enterprise leaders such as Wu Weiqin and Zhang Shu. If an opportunity arises to carry out joint-stock reform and at the same time to engage in management shareholding, then given their position, they will naturally be able to get a share. The assets on Linyiji's books are 200-300 million yuan. In addition, the land owned by Linyiji is currently worth no less than 500 million yuan. This is not reflected in the books.

Of the total assets of 700-800 million yuan, even if each factory director can only get 1%, that is still 700-800 million yuan, which is worth dozens of lifetimes of income. People like Zhang Qun and Qin Zhongnian are not in favor of demutualization rationally, but in the face of such a large amount of temptation, it is impossible to say that they are not tempted at all. If the policy allows them to participate, this will be an opportunity that completely changes their lives. Can they not care?

"There is currently no clear policy on management shareholding, and various places are trying to cross the river by feeling the stones." Tang Zifeng said, "However, as far as Linyiji is concerned, there is currently no management shareholding policy. Conditions. Some companies engage in management shareholding because the company itself has fallen into operating difficulties. The competent authorities promote management shareholding in order to stimulate management's motivation to turn around losses.

"For these loss-making companies, if they can turn around their losses, the state is equivalent to saving a company, so it is not an exaggeration to reward the management with some shares of the company. If the company fails to turn around its losses and eventually goes bankrupt, then The shares the management received were just a blank check, and the country suffered no loss.

"Linyiji is currently in good operating condition. To put it mildly, if we were to remove all of us and replace it with a new group of people to manage it, Linyiji would not become worse. In this case, the country has Why are you giving us shares for no reason?"

"This..." Zhang Shu was speechless and didn't know what to say.

What Tang Zifeng said is very simple. The country is not a fool. If a company is well managed, why should it give a certain percentage to the management? If Linyiji is a company on the verge of bankruptcy, and they are a group of capable people who can turn the tide, then it makes sense for the country to promise them a heavy reward in exchange for their hard work and helping the company turn around losses. But this is not the case when Lin Yiji comes. Why does the country need to do this?

Or to put it even more extreme, even if the superior authorities are crazy and insist on promoting management shareholding and allocate tens of millions of shares to the factory leaders of Linyi Machinery, wouldn't they change a batch first? Do you want your own people to come forward and then implement this policy? Neither Zhang Shu nor Wu Weiqin are irreplaceable important figures. If they remove you first and then engage in management shareholding, can you get a dime?

Seeing Zhang Shu's silence, Zhu Yachao said: "Director Tang is right. I have heard some things about management shareholding. The situation is indeed what Director Tang said. However, I also heard that, In order to engage in management shareholding, the leaders of some factories deliberately made blind decisions and made the factory insolvent, creating the appearance of imminent bankruptcy. In this case, the higher-level departments had no choice but to make the factory insolvent. It's not worth two cents to give it to these factory directors.

"When the equity is obtained, these factory directors will resume the business again, and the company will be alive immediately. These people are like white wolves with empty hands, grabbing a company out of thin air."

"Isn't this a crime?" Qin Zhongnian said in astonishment, "Director Zhu, which company are you talking about? It's not within our system, right?"

Zhu Yachao smiled apologetically at him and said: "General Manager Qin, it's not convenient for me to say this. It's because he has a good relationship with me that he told me the secret of this. I want to tell you which company it is. Didn’t you sell them?”

"This is not hawking, this is reporting!" Qin Zhongnian said angrily. Seeing that Zhu Yachao did not respond, the old man turned to Tang Zifeng and said: "Xiao Tang, you should report this matter to the bureau and let them investigate it. Check to see which company leaders are poaching the country."

"Chief Engineer Qin, this is none of our business and we can't control it." Tang Zifeng said to Qin Zhongnian in a helpless tone. In fact, he had also heard what Zhu Yachao said. There are also some things that no one knows now, but they have been revealed in later generations. The various operations involved are even more despicable than those mentioned by Zhu Yachao. Tang Zifeng is only the executive deputy director of Linyiji, and can only be regarded as a lower-level cadre in the entire system. How can he be in charge of such things.

"The method Lao Zhu said, if we want to do it, we can do it." Tang Zifeng turned to everyone and said calmly, "We don't have to do it too extreme. We just need to make one or two business mistakes, turn the books into losses, and then Let’s go talk to the Mechanical and Electrical Industry Company. Under the current general situation, I think it is still very possible to convince the Mechanical and Electrical Industry Company to allow us to carry out joint-stock reform and implement management shareholding at the same time.

"Of course, the Mechanical and Electrical Company also knows the financial background of Linyi Machinery. I don't think it is realistic to expect the Mechanical and Electrical Company to agree to allocate shares to us people for free. The greater possibility is to get the Mechanical and Electrical Company to agree to our purchase of part of Linyi Machinery. The price of Yiji's equity is of course negotiable. Everyone can think of a way, borrow some money, and buy the shares. Once it changes hands, there is always a price difference of three to five million per person. Let's talk about it. , are you interested in this matter?"

"Xiao Tang, what nonsense are you talking about! How can we do this?" Qin Zhongnian was annoyed and lectured Tang Zifeng with a tigerish face.

Tang Zifeng shrugged at him and said, "General Manager Qin, if you are not interested, you can give up. This matter involves everyone's welfare. You can't stop everyone from getting rich just because of your own ideas, right?"

Qin Zhongnian's face turned purple from suppressing his emotions. He waved his hand and wanted to say something ugly, but he couldn't think of it for a moment. Zhang Qun sat next to him, reached out and patted his shoulder to calm him down, and then said to Tang Zifeng:

"Xiao Tang, I don't think we should do this. After all, we are all party members, and we should have the minimum awareness. The method you mentioned is blatantly taking advantage of policy loopholes and leveraging the country's corners. Although It is said that we can hide it from the public and prevent the superior departments from seeing it, but shouldn’t we ourselves also touch our consciences and ask if our consciences are at peace?”

Tang Zifeng was noncommittal and turned to the others and asked, "What do you think?"

Wu Weiqin hesitated for a moment, shook his head and said, "It is indeed inappropriate to do this. Once word gets out, alas..."

This "Alas" contains a lot of information, including the intolerance for interests, the struggle for face, and of course, some worries. After all, he is someone who has been in the system for many years. He really doesn't have the guts to openly carve up state-owned assets.

"Let me express my opinion. I can't comment on what everyone plans to do. However, if you want to do what Director Tang just said, I will withdraw." Zhu Yachao raised a hand and said solemnly to Tang Zifeng.