reborn in the fiery age

Sun Zujie knew that Yang Xi was a little bored now, so he thought for a while and said, "If you really have nothing to do, then take care of the entertainment industry. I heard that the entertainment industry is becoming more and more outrageous and messy. There are many things.

Those who engage in art and have a messy private life are fine, but there are some things that must never be touched, one is political stance, those who make money from us, when they come to Hong Kong and Taiwan, they advocate this independence, that independence, it cannot be tolerated;

The second is DP, privately XD in the showbiz, it's not bad, but some people actually publicize it.Such behavior will never be tolerated.

For these two types of people, please help me collect information, I am going to come and organize it in a centralized manner, and clean it up severely.But anyone who has the above two behaviors will be banned and will not be allowed to appear in any entertainment programs in the future. "

Yang Xi's eyes lit up when he heard this, "I should have done this a long time ago, don't worry, I know quite a few people. That playboy Ma Xiaoming should also do something serious!"

"Ma Xiaoming is not a playboy now, he has already turned his back on his ways, let alone, the little daughter-in-law he found is really good, she actually trained him out!"

"Haha, I didn't expect that Ma Xiaoming would have such a day. Ma Xiaoming has become a slave to his daughter!" Yang Xi smiled and began to talk about what she had heard about Ma Xiaoming.

Sun Zujie nodded, thought for a while and said, "Ma Xiaoming is now in charge of Aihua Cinemas, and has a listed film and television company under his umbrella. His strength is extraordinary, and his role must be fully utilized.

Film and television actors have great influence on Hong Kong and Taiwan, and their words and deeds are very important to ordinary people, especially young people.Now the entertainment market in the mainland is already very large. Since these film and television actors eat from the mainland, they have to speak for the mainland.

How to do some subtle work, you want him to think of a way.We have to learn from our counterparts in the United States. Although they do not have a United States Propaganda Department, they do a much better job than us! "

Yang Xi shook his head, "You can't rely on them alone. Don't you know where the problem is now?"

Sun Zujie nodded, "Step by step, there are some things not to worry about."

Finally, after working hard for half a day, Sun Zujie decided to take a short vacation. In the afternoon, he continued to work. After receiving a foreign guest, he returned to the office. At this time, Ding Yue, the minister of the Ministry of Railways, had been waiting for a while. .

"Old Ding, I won't greet you anymore. The meteorological department reported that the low temperature, freezing, rainy and snowy weather in the south will last for a long time in January, and it will be the Spring Festival travel season. The railway transportation system is likely to face a very severe situation. You must do enough. preparations!"

Sun Zujie was very impressed with the ice disaster in the south. At that time, several of his postgraduate comrades in southern Hunan worked in shifts, and it took three days to buy a train ticket to go home. This was not bad. At that time, there were several 10 people couldn't go home, so that a very famous photo was left behind.

Sun Zujie knew very well that in rainy and snowy days, all air and road transportation would fail, and only railway transportation could be counted on. Therefore, whether the railway transportation system is doing well or not has a great impact.Now Ding Yue is more than half focused on the construction of the high-speed rail, so he must remind him not to lose the chain at that time.

Of course Ding Yue said a lot of reassuring words, and Sun Zujie knew that the old boy didn't take it seriously, and he didn't care.I remind you, if you pee your pants then don't blame me for beating you.Ding Yue is a person who needs to use it a lot and keep beating him, otherwise there will be problems.

Of course, in addition to reminding Ding Yue, Sun Zujie also reminded Hua Shenzhong and Luo Xuenong to tell the emergency offices in various places to make emergency preparations for ice and snow disasters in the south, especially to prepare enough supplies for the festival.

But it turns out that Sun Zujie's reminder is useless, the reason is that the boss of the center will remind him every year, these are commonplace.However, large-scale ice and snow weather in the south is very rare, so everywhere, they still peed their pants.

In early and mid-January, the south of Xiaguo was suddenly hit by a once-in-a-century ice disaster. Blizzards and super-cold rain fell continuously across the south. When the super-cold rain fell on the ground and cables, it immediately froze, crushing a large number of high-voltage lines and railway catenaries.

During the Spring Festival travel season, all highways were closed, and all passengers flocked to the railways. However, a large number of electric locomotives in the southern bureaus of the Ministry of Railways were paralyzed due to ice disasters and power outages. They had to urgently dispatch diesel locomotives from the railway bureaus in the north that had a reserve of diesel locomotives to the south for traction. It was a major rail failure.

Before Sun Zujie could speak, Ding Yue knew he was in serious trouble. The leader reminded him, but he didn't take it seriously, so the responsibility was all his, and he had to take the blame and make meritorious service.From the beginning of January to the end of February, Ding Yue was fighting on the front line of the railway, trying every means to alleviate the problem.

After the festival, Sun Zujie wrote a note to Ding Yue saying that it was not an example, and the matter was over.The reason why he let it go lightly is because Ding Yue committed crimes and meritorious deeds, and because the disaster was too severe, there were too many unexpected people, and the railway transportation system was under huge criticism, so it is not suitable for him to say anything at this time .

Of course, there is another reason. The subprime mortgage crisis in the United States has entered a climax and has begun to seriously affect the real economy. The stock price of General Motors, the largest automobile company in the United States, has fallen below [-] yuan. The automobile industry in the United States has encountered a major crisis. question.

In fact, it is not only General Motors that has problems. General Electric, a well-known big brand in the United States, also has a lot of problems. The reason is that industrial enterprises such as the United States have been highly financialized.

　In the initial stage of the outbreak of the subprime mortgage crisis, people did not have sufficient awareness of its harm. Last year, Forbes magazine optimistically predicted: "The growth of the U.S. imperial economy will continue to slow down in the next 6 to 12 months, but this It is limited to the U.S. imperialism itself, and has limited impact on overseas markets. The U.S. imperial economy may turn better next year."

Facts have proved that this view is too optimistic.Global economic trends over the past year have shown that the subprime mortgage crisis is by no means an ordinary financial crisis limited to the credit market. As time goes by, its negative impact on the real economy gradually emerges.

Since North American auto consumer credit is extremely common, and the proportion of credit used in new car purchases is as high as 80%, the auto industry has become one of the most affected industries.

The North American auto market has been in decline since September last year; the Japanese market has also been in trouble since November last year; although European autos have not been affected too much, they also bid farewell to more than 9% as early as 11 years ago increase.

The three major U.S. auto giants, GM, Ford and Chrysler, are facing sales declines for the fourth consecutive month, and the range is double-digit. The Japanese Toyota, which has always been envied by its peers, is not immune to profit growth. The net profit dropped sharply.

General Electric's problems are more serious than those of the Big Three.During Jack Welch's 20 years as CEO, he carried out a series of reforms on General Electric from the aspects of brainstorming, borderless organization, globalization, digitalization, and Six Sigma, which brought General Electric into a glorious period of rapid development. period.Propose to provide services to customers other than products, the most important of which is financial services.

With the large scale of GE enterprise and the use of sufficient capital, GE has implemented a diversified business strategy.The ever-expanding business scope has brought about a huge demand for financial services, and GE has gained more and more benefits in the financial business. Jack Welch shifted his strategic focus to financial services. At this time, GE Finance's service targets are no longer limited to the group, but have expanded to the upstream and downstream of the group's external industrial chain, and even various international markets.

The integration of GE's industrial capital and financial capital has produced a synergistic effect: GE Finance has expanded its customer base with the help of GE's industry, and brought substantial revenue and profits to GE's industry, providing sufficient cash flow for GE's industrial expansion, and improving its The credit rating of GE industry, the high credit rating of industry in turn reduces the financing cost of GE Finance in the financial market; industrial capital and financial capital effectively realize the double synergy of operation and finance, and the two-wheel drive becomes the growth engine of GE.

Through the bold use of diversified operations, cross-border mergers and acquisitions, and financial leverage, Welch raised GE's market capitalization from USD 130 billion when he took office to USD 4800 billion, and once became the company with the highest market capitalization in the United States. GE became the largest electrical and electronic equipment manufacturing company in the United States and the world, and the seventh largest banking institution in the United States.

Bringing a high-return, fast-turnover financial business to GE did work well at first, long enough to keep Welch on the altar during his tenure.However, this model has also gradually exposed the limitations and high risks of short-term thinking.

Financial expansion enabled GE to give a good bill in the era of collective decline of American industry, making up for the loss of profits caused by the degradation of industrial capabilities and exit decisions with skyrocketing financial returns.

Under the guidance of shareholder value maximization, the company compresses difficult and high-tech businesses, and instead develops non-related financial businesses with a short cycle but risk sensitivity. Anyway, institutional investors only care about the amount of dividends, not the source of dividends and changes in the balance sheet .

Compared with the manufacturing industry, the short-term development of the financial business is fast and the rate of return is high. However, technological progress and the increase in total factor productivity are limited. As time goes by, more and more people are required.In order to achieve more performance, employees have to develop new financial businesses, increase leverage, or grant credit to people with higher default rates, which accumulates more risks.

Enterprises need to further improve their performance, they need to expand the scale of assets, while increasing leverage, getting involved in various complex financial derivatives and entering more unfamiliar business fields.

Welch advocated "winning with speed", which made GE more and more inclined to pursue short-term profit growth returns and ignore the development trend of industrial technology research and development during his tenure.At the beginning, the purpose of doing finance was to coordinate the development of the industry. However, with the development of the financial sector, the financial business gradually became an independent business sector, seizing the resources of industrial capital.

Welch's business model is a "three-high model" of high leverage, high risk, and high return. GE neglected the innovation and upgrading of the manufacturing industry while large-scale mergers and acquisitions and financial development, and did not really find an outstanding An innovative model that surpasses other companies.

Jack Welch was packaged as a great manager, the founder of GE's rise, but he also planted the seeds of future crises, and his hand-picked heirs almost destroyed the business empire.

When Immelt took over, GE had transformed from a technology innovator focused on internal growth into a relatively mature, financially-driven diversified business focused on short-term profits.Although Immelt increased investment in research and development and technology after taking office, he did not reverse GE's overall tendency to focus on finance and light manufacturing, allowing GE Finance to maintain its expansion.

Over the past five years, GE Capital has vigorously expanded internationally. GE Finance's capital-driven expansion mode has gradually expanded the scale of corresponding risk assets, and the financial sector has gradually become a "big debtor" within the group.

To fill the funding gap, GE Capital relied on debt financing by issuing commercial paper.Before the financial crisis, GE Group was the world's largest issuer of commercial paper. Last year, commercial paper borrowed 1076.77 billion US dollars, which is a very staggering figure.

Before the financial crisis, GE Finance's asset scale, debt ratio, and income and profit all surpassed the industrial sector, occupying the most important position in the group.Businesses that are less related to the main business, such as consumer finance business and real estate business, account for an increasing proportion. Last year, they accounted for 48% of GE Finance's revenue and 30% of its profit.

Facing GE's growing financial business, investors and the outside world can't help but wonder: Is GE an industrial company or a financial company?In the Top 500 category, GE is classified as diversified financials, not industrials.

The outbreak of the financial crisis has brought many banks and non-bank financial institutions in the United States to the brink of bankruptcy. Unlike banks, GE Finance itself has limited deposit absorption and is in a more difficult situation.

The high leverage previously adopted by GE Finance was supported by its high performance at the time. However, after the outbreak of the financial crisis, the profits of the financial business declined, and GE fell into a state of operational tension for a while, which caused market panic and a sharp drop in stock prices, and capital operations were in trouble.

However, the formation of bad results is not unilaterally caused by the financial business.The Internet bubble, 911/55 and other events caused the scale of General Electric Capital to shrink significantly after Immelt took office.In order to maintain performance growth, he continued to buy, buy, buy, bought Vivendi Entertainment for US$95 billion, and British Medical Imaging Company for US$[-] billion...

Immelt also allocates large sums of money to the research and development department. In order to increase short-term profits, he can only ask for results from finance.Highly dependent on short-term debt to ensure profitable growth, GE lost all of its mojo when credit markets froze.

GE's problems are also an important reason for Sun Zujie's large-scale restructuring and splitting of Huatou. In recent years, Huatou's financial sector has also undergone large-scale expansion, and its scale has far exceeded that of the industrial sector.

Therefore, when Lao Xia served as the chairman of Huatou, he put more energy on the financial sector. If this continues, the influence of Huatou’s industrial sector will gradually decline. will avoid such a thing from happening.

Another point is that after GE had a problem, Sun Zujie learned from Goodman that GE was trying to sell or spin off the home appliance business. He felt that this was a good time for OPPEI to expand.

GE's home appliance business is the foundation of this century-old store. The business scale and brand influence are unprecedented. Once the acquisition is completed, the overseas brands of the entire Oupai Group will be greatly improved.

Of course, this sale will definitely require a lot of money, but it is definitely worth spending billions of dollars on a major brand promotion, especially knowing that the American emperor will soon be transfused, Sun Zujie feels that instead of using the money to buy national debt, pay It's better to buy GE appliances, even if the premium is worth it.

In addition, there is Volvo Cars, which can also take the opportunity to try it out.Of course, a large-scale acquisition involving billions of dollars or tens of billions of dollars is never that simple. GE and Ford Motors are not fools, they must be able to understand Sun Zujie's intentions, but in this special era, Sun Zujie believes that there is a great chance.

Such a large business has naturally attracted the attention of Goodman. Whether it is GE's home appliance business or Ford's Volvo Cars, they are all big businesses worth billions of dollars.

Because of preparations, at this time Huatou has withdrawn a large amount of funds from overseas markets one after another. Since the buyer has money, as long as the seller is persuaded, the business can be successful, and the current Ford and GE, huh, everyone knows their Not a good day.

The response from Ford is that Volvo is not within their sales scope. They are now considering Jaguar Land Rover and Aston Martin, and they are already negotiating with Tata Group in India.