Chapter 1367: Chapter 470: Inciting Rebellion
Donnie traveled back to Los Angeles by ship, but didn’t stay in Los Angeles; instead, he took a train directly to Houston!
In this future space city of the United States, at this mont stands Venus Tower, which can rival New York’s Block Building.
This is the headquarters of Venus Bank in Texas.
Compared to the Venus Consortium in New Jersey, Florida, and California, where there are designated people responsible for business there, the managent structure in Texas for the Venus Consortium is slightly different.
Here, Venus Bank uses a partnership structure, comprising seven senior partners in Texas, three of whom co from the Strategic Departnt at Venus Bank headquarters, along with selections from other forces within the Venus Consortium.
Of course, among these seven is Zack Holloway.
These seven rotate as the president of Texas Venus Bank, essentially serving as the board of directors for Texas Venus Bank.
Each enjoys a 3% profit share of the annual profits of Texas Venus Bank.
The rotating chairman receives a 5% profit share.
Of course, apart from the reward system, there is also a penalty system, as Texas Venus Bank mainly deals with investnt business; failing in judgnt naturally invites punishnt!
Donnie did not enter Venus Tower but checked into the Rock Hotel, which was invested and built by Texas Venus Bank.
Rock Hotel is one of the luxury brands in Donnie’s hotel business collaboration with the Astor Family.
In the living room of his occupied suite, Tang Fei t with the seven senior partners of Texas Venus Bank and listened to their reports on the company’s developnt over the last two years.
Their reports lasted for three hours.
After they finished reporting, Tang Fei was relatively satisfied with their achievents. In fact, Donnie already knew about these achievents, as it was not possible for Donnie, with his personality, to fully trust them.
“I know the situation now; you’ve done well…”
Donnie praised them, and just as they felt happy, Donnie suddenly said, “However, regarding the acquisition process of Dallas First National Bank, I have sothing I don’t quite understand.”
At this point, Donnie looked at Burke Logan, one of the seven senior partners at Texas Venus Bank, a Stanford University graduate from Venus Bank’s Headquarters Strategic Departnt.
“Initially, according to the group’s assessnt, the valuation of Dallas First National Bank should have been from 500 million US Dollars to 700 million US Dollars. Why then did the consortium eventually spend 800 million US Dollars to acquire the total ownership of Dallas First National Bank?”
Faced with Donnie’s inquiry, Burke Logan paled slightly; the acquisition of Dallas First National Bank occurred during his tenure as rotating chairman of Texas Venus Bank.
“Boss, that’s because while we were acquiring Dallas First National Bank, it was discovered that their investnt in the Houston Aircraft Company suddenly mastered advanced engine technology, leading them to raise their price!”
Donnie tapped lightly on the table, saying, “The entire valuation of Houston Aircraft Company is not even 200 million US Dollars. Now you’re telling just because they possess more advanced yet unused engine technology, they directly raised their price by 100 million US Dollars?”
Burke Logan wanted to explain sothing more, but Donnie waved his hand, saying, “I don’t want to pursue the true reason behind this any further; your bonus for this year is canceled!”
Seeing Donnie’s gaze, Burke Logan dared not say anything further.
Donnie then turned his attention to the others and said, “Moreover, what’s curious to is that you actually reported this to after the fact, as if you were waiting for the matter to be irreversible, so I couldn’t oppose it?”
The remaining six who had harbored lucky thoughts all now bowed their heads.
Donnie waved his hand, saying, “Like Burke Logan, I don’t want to continue pursuing this matter; your bonuses for this year will be halved!”
In this matter, Burke Logan indeed had episodes of corruption, but it’s not unacceptable. These seven are responsible for the operation of the entire Texas Venus Bank, and the annual financial flow of the consortium reaches tens of billions of US Dollars. To claim that they are all honest and upright people is sothing Donnie does not believe.
For instance, regarding the matter Donnie just ntioned, according to the intelligence Donnie received, the Houston Aircraft Company did break through a technical barrier in aircraft engines. If the technology is applied to practical production, it can indeed significantly increase the market value of Houston Aircraft.
But to say it adds 100 million in valuation is impossible.
At most, it’s a valuation of tens of millions, and under such circumstances, if Burke Logan even slightly used his wits, these could have been incorporated into the acquisition costs of Dallas First National Bank.
Of course, during this process, Burke Logan personally received an extra inco of 1 million US Dollars!
The principle that clear water breeds no fish, Donnie understands it all, but he can’t permit these individuals to brazenly carry on with such activities; thus, the current punishnt is Donnie’s reminder that he is acutely aware of their actions. He can allow so grey inco, but it can’t be excessive.
As for Zack Holloway and others, although they didn’t profit from this particular situation, it doesn’t an they haven’t gained from other investnts. The reason they didn’t inform Donnie the mont Burke Logan started this matter was rely because of their own power struggles; there is competition among them.
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