Chapter 415: 170. Short Selling (A Major Chapter with Ten Thousand Characters, still repaying debts~~)_6
Donnie sat there without speaking, waiting for William Mellon's follow-up.
"But as partners, and also as an expression of our apology for the last incident, Mellon Bank still provided you, Donnie, with an $8 million loan. This isn't because we believe the venture will definitely be successful, but because we believe that you, Donnie, will surely succeed.
However, this money belongs to the bank after all, so if you can't repay the loan when the time comes, I hope you can understand the actions taken by Mellon Bank!"
Donnie looked at William Mellon and said, "Of course, that was what we had agreed upon beforehand."
Although the profits from bootleg liquor had begun to flow back, the bootleg liquor market had expanded too broadly, and just transportation alone was a significant expense, so Donnie was currently unable to come up with $8 million cash all at once.
However, this situation would be completely resolved by October.
By then, Donnie could at least have over six million dollars in cash each month, and this amount was expected to continue to increase in the future.
And the reason Donnie could borrow $8 million in cash from Mellon Bank was precisely because of the envied and sought-after shares of Atlantic City Broadcast.
"The second matter is the follow-up to shorting Sinclair Oil Corporation,
the Mellon Family can help you get rid of the trouble from Rockefeller and Union Pacific Railroad Company, but for this, we hope to receive a corresponding return!"
Donnie, noncommittal, said, "Let's hear your conditions first!"
William Mellon said, "First of all, if in the future, as you, Donnie, have described, we are indeed successful in taking control of Sinclair Oil Corporation, we hope that Sinclair Oil Corporation, Gulf Oil Corporation, and Pandora Oil Corporation can form a steadfast alliance of partners. What happened with Hephaestus Refining Company must not reoccur!" Your journey continues with My Virtual Library Empire
After Rockefeller became dominant in the oil industry, their family gave up the idea of building a new oil company, and coupled with the breakup of Standard Oil due to the antitrust agreement, it led the Rockefeller Family to change their family business directive.
That was to shift from family management to investment management, where they would look for suitable and potential oil companies to invest in, then acquire shares, and hold a certain amount of say.
Of course, if an oil company refused... one could refer to the development of domestic internet companies around the 2010s, if you agree, you're one of us; if you don't, you're taken down!
With absolute say in the oil industry, the Rockefeller Family also had the strength to do this!
Therefore, during the management of Gulf Oil, William Mellon also accepted financing from Rockefeller, which is why he could assert that he could solve the issue with Rockefeller.
In fact, it was for this reason that Donnie sought their cooperation!
"Second, I know you certainly plan to take Atlantic City Broadcast public, and I hope Mellon can become a partner with Atlantic City Broadcast, specifically in charge of the IPO for Atlantic City Broadcast."
At this, William Mellon looked at Donnie earnestly and said, "The Mellon Family only has these two requests!"
Donnie sat there, lightly tapping the armrest of the sofa, and finally said calmly, "So you're saying, the Mellon Family is actually just using the Mellon family's influence to solve the trouble brought on by Rockefeller and Union Pacific Railroad Company, while on my side, not only am I completing the acquisition of Sinclair Oil with shares held by the Mellon Family in Gulf Oil, but I am also supposed to take away the profits and some shares of Atlantic City Broadcast!"
William Mellon shook his head and said, "Donnie, it's not calculated like that. First, without the Mellon Family's intervention, Rockefeller and the Union Pacific Railroad Company would definitely not watch Sinclair Oil Company change hands so easily, the trouble this brings you cannot be resolved with just money.
Second, whether or not Sinclair Oil Corporation can ultimately be acquired is a later plan, you aren't even guaranteed to succeed in shorting Sinclair Oil Corporation to begin with, aside from Mellon Bank, it's impossible to get an $8 million loan under terms of confidentiality.
Then, even if Mellon does not handle the IPO for Atlantic City Broadcast, you would still need to partner with another brokerage firm. I believe, being one of the most watched companies on Wall Street, you would inevitably have to give away some shares of Atlantic City Broadcast during negotiations with your partners."
Finally, in this matter, you are actually not giving up anything. If everything goes as you have planned and is successful, then in the end, the one who gains the most profit will definitely be you!"
Although both parties had reached a consensus on cooperation, there were still various disagreements on finer details.
Donnie believed that the Mellon Family's truly crucial role, from beginning to end, was actually just solving the trouble brought on by the Rockefeller Family and Union Pacific Railroad Company.
As for Donnie's shortage of funds, actually, based on Donnie's current assets, it was completely possible to borrow from other banks, even if William Mellon denied this!
So, wanting to gain so much after only exerting a little effort was something Donnie could not accept!
But William Mellon also believed that regardless of how much effort the Mellon Family had put in, the core issue was resolved by them, so they should gain that much benefit!
The two sides began their drawn-out negotiation process.
Until the sky had completely darkened, neither side could definitively agree on terms.
"It's getting late, let's have dinner first, and talk specifics after dinner!" Donnie suggested, glancing at the time.
William Mellon did not object, laughing, "Of course, actually, I was already thinking about the delicacies of Atlantic City on my way here!"
The two men, who had just been in a tense negotiation, were now as friendly as if they could discuss poetry and scenery together!