America 1919-Chapter 813 - 278, Breton Bank in hand_3
Chapter 813: 278, Breton Bank in hand_3
Although Donnie has lost his status as a shareholder and director of Breton Bank due to selling his shares, now faced with the credibility crisis looming over Breton Bank, these people would definitely not refuse Donnie’s invitation!
Indeed, just as Donnie had said, after receiving his invitation, even though they had vaguely guessed Donnie’s intentions, they still came to Atlantic City.
Even Dick, who didn’t want to sell his shares to Donnie until now, has also arrived in Atlantic City at this time.
He had to come; his situation was very dangerous. He needed to know the true thoughts of the Breton Bank shareholders.
Donnie had arranged to meet Dick in advance!
This was the third time Dick had come to Donnie’s office in this period.
Every time, Dick was not in a good mood, and this time was no exception!
But, the situation forces one’s hand, and regardless of his mood, Dick had to meet with Donnie!
“Clever tactics!” Sitting on the sofa, Dick spoke to Donnie with a complex expression: “With these ins and outs, you took control of Sinclair Oil Corporation with minimal capital. Now, are you going to use the same tactics to acquire my Breton Bank?”
Sitting comfortably in his chair, Donnie casually said: “Dick, I didn’t go to see the other Breton Bank shareholders before meeting you, because I actually value the pleasant cooperation we had before. The situation has progressed to where you can’t hold onto Breton Bank anymore. Why not sell your shares outright and keep some cash for yourself to live the life of a wealthy gentleman?”
Dick shook his head, resolutely saying: “That’s impossible, Breton Bank is the Dick Family’s enterprise, I won’t sell it!”
Donnie displayed a look of helplessness: “Didn’t you understand what I just said? You are no longer able to hold onto Breton Bank.”
At this, Donnie had Steve Cotting pass a document to Dick, saying: “While you all were on your way to Atlantic City, I had Jesse start acquiring shares of Breton Bank on the NYSE. Maybe by the time our meeting here formally starts, I’ll be able to re-enter the ranks of Breton Bank shareholders.”
“At that time, I will submit a motion at the meeting to review the recent loan auditing of Breton Bank, and I believe there will certainly be some violations found!”
Dick’s face turned pale, his tone restrained as he said: “Why are you telling me all this?”
“Why do I tell you this? You know better than I!” Donnie said with a laugh.
“If you do this, it will definitely affect Breton Bank’s stock price!” Now, Dick also had his own thoughts. Donnie had started to buy Breton Bank shares, thus shifting from a bystander to a participant.
If Breton Bank’s stock price falls again during this process, then Donnie would also bear losses!
“It doesn’t matter. What I want is the whole of Breton Bank. If the stock price drops, I can purchase the shares from the shareholders at an even lower price. It won’t affect me at all!”
Dick’s expression froze, and he stubbornly said: “Do you think everyone can’t see through your plans? As long as you want to buy, then you will surely manage Breton Bank well in the future; nobody will be so foolish as to sell their shares to you!”
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Donnie laughed heartily, saying: “You’re mistaken on two counts with that statement. First, from what you said, you’ve accepted that I will successfully take over the management rights of Breton Bank. Second, I do indeed very much want Breton Bank, but I don’t have to have it. If I can’t get Breton Bank, then I’ll certainly destroy it completely.
By that time, the other shareholders of Breton Bank will probably face the same situation as you, they will have to deal with the bank’s collection demands!”
In the United States, it’s nearly impossible to do business without loans.
Breton Bank’s shareholders are no exception. They have their own businesses, and Breton Bank’s stocks were previously considered premium securities, naturally also their main collateral.
Now with the decline in Breton Bank’s stock price, they face the potential of severing ties with Atlantic City under such circumstances, their lenders will not allow themselves to suffer losses!
“If you decide to end Surf Hotel’s cooperation with Breton Bank, I will definitely sue you!” Dick said, somewhat unconfidently.
Donnie waved his hand, unconcerned, saying: “Dick, at this point, let’s not talk about such hypothetical issues. Surf Hotel is a business, and who we choose to cooperate with or not is our freedom. Even if you successfully sue, do you think New Jersey will side with you, or that the Supreme Court will stand by you?
Even if you have such naive thoughts, do you think the other shareholders of Breton Bank will share your sentiments?
Cutting losses quickly is everyone’s first choice!”
Dick slumped on the sofa. Many things were not beyond his understanding; he just did not want to face them. Now that Donnie had laid it all out for him, it was impossible for Dick to pretend he knew nothing!
Sell your shares to me now, and I can give you a good price. But if my patience runs out later on and you want to sell, then you won’t get nearly as much cash,” Donnie told Dick in conclusion.
Dick fell into deep thought, considering whether he had any means to counter Donnie’s current assault.
But no matter how much Dick thought about it, he helplessly realized that he had no way to deal with Donnie’s current tactics.
“When you came to me, you must have foreseen this outcome, hadn’t you?” Finally, a disheartened Dick asked Donnie.
