When I am reborn in Hong Kong, I just want to lie down

In the past, in 2007, the famous merger and acquisition initiated by Porsche to acquire Volkswagen was still talked about in 2008, especially the final short squeeze battle.

At that time, there were many people, but because of this short-squeeze war, many people had their families destroyed, and even more people were ruined.

As the saying goes, everything has a cause and effect, and now Porsche has its cause and effect.

Last year, Porsche owed nearly 380 billion euros. Under normal circumstances, if the financial tsunami had not occurred, then 380 billion euros could be repaid in only five years. Because Volkswagen is the pride of Germany, and its annual sales are astronomical. .

Therefore, 380 billion euros and an interest of more than ten euros a year are not a problem at all. However, this time, due to the 2008 financial tsunami, the world has entered a stagnant situation.

Swiss efg bank began to collect interest from Porsche.

The Porsche family has also felt the chill from the world. This year it seems that everything has come to a standstill. Their main competitor, Continental, has begun to significantly reduce prices in the main markets of Volkswagen. It is really significantly reducing prices.

A spokesman for Pan American Dynamics, the parent company of Continental, said in an interview with global reporters: "This year has been too bad. The financial tsunami has caused Pan American Dynamics to expect a huge inventory backlog. We We need to get rid of inventory, otherwise these inventories will bring huge pressure to our company."

"In a weak economy, inventory does not bring revenue, it is just pressure. We will sell all cars at a [-]% discount."

"This is to prepare for the pressure caused by inventory and at the same time bring a large amount of cash to the group. In this way, Pan American Dynamics can avoid this crisis and survive it safely."

People watching this press conference included not only ordinary people, but also automobile giants.

A group of people at Mita Motors in the island country were watching TV very seriously. Since the outbreak of the financial tsunami (crisis), Mita has also been affected. They purchased 5000 billion yen in mortgage bonds.

Their mortgage debt of 5000 billion yen may not be repaid. Their target is Detroit, the city of automobiles. Several banks there have basically filed for bankruptcy and are preparing to find someone to take over.

Detroit, the former city of automobiles, is now facing extreme challenges. Many businesses here are finished or have relocated, and mortgage loans are also finished. Several banks that issued loans are also finished. The collection of loans they issued has also ended. If you don't come back, the house you took back will be of little use.

Some news about Detroit appeared in today's newsletter and online media.

"For one dollar, you can have the best house in North America."

Is this an example?No, on this day, there are many signs saying that they are selling for one dollar or helping to pay off the mortgage. The house or whatever is theirs.

The people in Santian also know the situation there. Now, they have begun to discuss the impact of Continental cars on themselves, and they have come to the conclusion that they will also enter the wave of selling immediately. If it is too late, they may be slower.

Several major car manufacturers in the world are considering reducing prices, because under the current situation, it will be difficult to survive if they do not reduce prices.

What they didn't know was that before this announcement was made, Continental had already started to cut prices, and it wasn't just as simple as a [-]% discount, but there were also more hidden benefits.

Continental's early destocking has brought a long-range blow to other car companies and caused a chain reaction. The most affected ones are Porsche and Volkswagen, because they have no money to repay their loans.

"The interest for this period is about to be paid off."

In Porsche's conference room, a group of people were sitting there, feeling a little uneasy. The words of the financial director made everyone's hearts sink to the bottom.

Since the snake swallowing elephant was staged last time, a third party took advantage of it. Now they are also seriously damaged. They have to repay nearly 30 billion euros in loans every year, which makes them suffer a lot. Moreover, after the last time, suddenly The coming financial tsunami caught everyone by surprise.

They expected that the crisis would not be as severe this time, but now it has exceeded their expectations and made them panic. Now they are selling very few cars and they have been losing money. Their market share in China has been greatly eroded.

They were caught off guard. Moreover, they wanted to borrow from other banks, but other banks now have no money and dare not lend to them. They owe too much, reaching 380 billion euros. What is the concept?

It was so frightening that other banks could only retreat.

"Ask the government for help. If we don't give this money, then Porsche will change hands and Volkswagen will not be able to keep it."

After hearing his words, they could only turn to the German government for help.

In an office in the city hall, several people were having a small meeting.

"That's what it is and we hope the government can help us get through this."

After listening to what he said, the officials felt that this matter was very difficult to handle. It required a huge amount of 380 billion euros, and they did not have the authority to handle this matter.

"Just wait for the notification."

"There's still one month left before the first installment of interest is due..."

Half a month later, the German government took the lead, and the Swiss efg bank, Porsche, and Volkswagen appeared in the conference room of the Swiss efg bank to discuss the Porsche loan.

"Such a thing happening in the global economy is not what we want to see. Moreover, in view of your high-quality customers, we showed great sincerity and gave you a great discount, which is less than the loan interest of other banks. 30%.”

The Director of the Credit Department of the Swiss EFG Bank headquarters personally received them and was very embarrassed. Even Porsche had problems, so which company is still reliable?

The government representatives responsible for this negotiation feel that this matter is a bit difficult. They want to delay it and wait until the global economy improves to start financing from other aspects and resolve the matter between Porsche and Volkswagen.

However, the other party does not want to retreat in terms of interest. Porsche currently does not have more than 20 billion euros in interest, otherwise it will bring down Volkswagen. If Volkswagen is robbed of more than 20 billion euros, then their liquidity will be problematic.

"We only have temporary difficulties. After the financial tsunami passes, we will include this part of the interest."

"Your Excellency, President Wei Jin, we are also in difficulty. This time we suffered a huge loss and we need to recover. Without this funding, we will also be affected. Please understand our difficulties."

The Swiss efg bank started to cry out for the poor by telling the facts and making sense, which made people feel very sympathetic.