Another big business deal sealed.
This is the biggest advantage of joining a consortium: sharing resources and growing together. Small businesses fighting alone can't compete with this behemoth.
The gathering continued.
A group of n went to the most luxurious golf course in San Francisco, which also belonged to Bank of Arica. Today, it was closed to outsiders, only consortium mbers attended.
The evening ended with a dinner, finishing around 9 PM.
No won appeared at the gathering, only business and politics. This is a true high end gathering.
The kind of party with lots of beautiful won might seem lively but is really just for fun, not for discussing serious matters.
Back at their residence, Hardy smiled at Andy, "I feel like there are more and more things to handle. I've been in San Francisco for a month and a half and can't get away."
Andy smiled, "But your gains are huge."
Indeed, the gains over the past month and a half were substantial.
Acquiring Wells Fargo gave Hardy Group a financial core, making them a mber of the California consortium, further strengthening their presence in California.
Several business deals were also made.
Acquiring shares in Pepsi, partnering with rck Pharmaceuticals to build a factory in England.
Each of these would be a major undertaking for others, but for Hardy, it was just a matter of a few words.
This is the advantage of having vast resources.
A consortium is a resource pool where everyone contributes and withdraws resources, mutually benefiting and promoting each other.
The next day.
The new casino partners gathered again. yer had specially co from Los Angeles to San Francisco. Initially, he was the initiator, but now he was just a supporting character.
Looking at Hardy, he had heard that Hardy officially joined the California consortium last night, with dozens of tycoons hosting a mbership reception for him.
Hardy's wealth and status had far surpassed him.
Just last year, Hardy was a promising young man he admired. Now, he had rapidly grown into the biggest tycoon group leader in Los Angeles.
Giannini chaired the eting. He looked at everyone present and smiled, "Now let's discuss the casino's share distribution."
He first looked at Hardy, "Hardy, you said you wanted to keep 20% of the shares, right?"
Hardy nodded.
"As for the remaining shares, after consultation, the distribution is as follows: MGM 10%, rck Pharmaceuticals 10%, Crocker Agricultural Products 15%, Pepsi 7%, Lockheed Aircraft Manufacturing 10%, Bank of Arica 28%."
yer had initially wanted to lead the new casino project but ended up with only 10%. Once the big capital players got involved, things went out of his control, and now he was just a follower.
Actually, he was lucky not to be kicked out completely.
Giannini continued, "Regarding managent, the new casino will continue to be led by Hardy. Does anyone have any objections?"
Everyone agreed.
"Hardy has one condition: everyone must sign an agreent that as long as the casino doesn't incur significant losses, the managent rights belong to him. If severe losses occur, the shareholders will reclaim managent rights and choose a new CEO. Any objections?"
So agreed. They invested just to make money. Like Lockheed, they knew how to make planes, not run a casino.
So hesitated but eventually agreed. Without Hardy, the casino probably wouldn't run well.
"Next is the managent equity issue. After calculations, managent equity will be 12% of the total shares. Any objections?" Giannini looked at everyone.
The managent equity was for profit sharing only, 12% of the annual net profit. After deducting managent equity dividends, the remaining profits went to the shareholders.
So thought the managent equity was too high, but since Bank of Arica agreed, the others didn't oppose.
"Lastly, what should we na the casino?" Giannini asked.
yer felt a bit sad. He had originally planned to na it 'MGM Grand Hotel,' which would also promote MGM. But now, as a small shareholder, he didn't dare to suggest it.
"Hardy, do you have any ideas?" Giannini asked Hardy.
Hardy thought for a mont, "How about Caesar's Palace?"
"Caesar's Palace Hotel, Caesar's Palace Casino. I think it sounds great," David rck said.
Others also liked the na.
Thus, the casino was nad.
They discussed so details, like the casino's design and business strategy. Hardy shared his plans for developing Las Vegas, and everyone thought Hardy's plan was excellent.
Especially the idea of TV draws and telephone betting for more diverse draw activities, which everyone supported.
They grew more confident in the future profitability of the casino.
With the deal finalized, they celebrated with champagne. The lawyers quickly drafted the contracts, and everyone signed the agreent, making it official.
Caesar's Palace Hotel was officially born.
David rck and Hardy clinked glasses, "You move fast. I heard you already sent soone to the pharmaceutical factory. I've signed off, so you can collect the goods anyti."
"Thank you."
"You're welco. I'm counting on you to make so money at the casino," David rck laughed.
"No problem. I'm good at running casinos," Hardy laughed.
"The U.K penicillin factory is being negotiated, with an estimated investnt of $1.2 million. If construction is fast, it can be operational in six months."
As they chatted, another person approached, Robert Gross, head of Lockheed Corporation.
Robert Gross was in his 60s, with blond hair, looked very energetic. He greeted Hardy with a smile, "What are you two discussing?"
"Just a small business. I'm planning to build a penicillin factory," Hardy said.
Penicillin had once been a mysterious product, but after years of developnt, factories could now produce it on a large scale. It wasn't sothing Robert Gross paid much attention to, he had his own agenda for approaching Hardy.
"Hardy, I also have a small business to discuss with you."
"What business?" Hardy was curious. He didn't sell arms, what could Gross want to discuss with him? Shouldn't he be talking to the military?
"Does your HD Airlines need any passenger or cargo planes? Lockheed produces excellent passenger and cargo planes, like the L-049 Constellation. Are you interested?" Robert Gross asked with a smile.
Hardy smiled and shook his head, "Sorry, not at the mont."
Hardy declined outright.
His fleet was purchased from the military at a very low price. Buying Lockheed's planes at market price didn't fit his concept of a low cost airline using common aircraft parts.
Robert Gross showed a disappointed expression.
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