Chapter 1281: The world is changing fast

"Philson, I'm very curious, that stubborn old guy, why not go short US Online." Looking at the report in his hand, William White looked weird. Or, it means a little bit of indignation.
If you invest in a stock, you need to have a comprehensive understanding of its operations. So, short a stock needs to do more. At the very least, the consideration of capital adequacy ratio is indispensable.
William White couldn't understand that the valuation of NBC Online is less than 150 billion, while the valuation of U.S. Online is very close. From the number of registrations to paying users, it should be said that the number of paying users is slightly weaker. As for the others, NBC Online clearly has an overall advantage.
But, you don't go short because of Mao?
"Ahem, boss, there are two main reasons. The number of dial-up users is also counted as paying users. If you only count email and instant messaging, their number of paying users is not as good."
"Well, can you calculate it like that?" William White was a little stunned. The cost of dial-up Internet access is only twenty dollars a month. What's more, the profits that can be attributed to U.S. Online are actually very limited.
"Yes, in the eyes of most people, the cost of dial-up Internet access is tangible. Although there are many competitors, millions of users, even our think tank, are very optimistic about them. development of.
Another factor, the negotiation of the acquisition of Time Warner, has made breakthrough progress. With such a big uncertainty, Julian Robertson dare not, if a bad one, the old guy will lose the bottoms. "
"Acquisition of Time Warner? Philson, this should be said to be mergers or mergers. It seems that Time Warner is accustomed to playing the game. Hey, it's just that the two companies with such huge differences, how they plan to integrate management Floor.
Well, let's watch it. "
William White certainly knew that behind this merger, there must be those old money families. But, why do you think that one plus one can be greater than two. Very likely, it is equal to two goods.
Mergers and acquisitions are not news in the United States. To put it bluntly, if there is no merger and acquisition, what else would you say is excessive capital. Let’s not talk about success stories. If we talk about failure, then there is no doubt that the merger between Migo Online and Time Warner is an unprecedented disaster.
In fact, William White’s think tank did not understand the boss’s brain circuits. Bigger and stronger, isn’t it an immutable truth, but why don’t you do that?
If it is before the emergence of U.S. Online, you can say that if you do so, it will easily lead to an antitrust investigation by the Ministry of Justice. However, since there is a big head, you are still worried about wool.
"Philson, so, mergers and acquisitions are just a certainty, right? Your purpose today?"
"Ahem, boss, FTC, they hope..."
"No, just send a manager here. This group of cysticworms, since they believe that the market has the ability to regulate itself, how can they worry about trusts now?
Hey, if the two companies merge, it will be a company with a valuation close to US$300 billion. Oh my God, those old immortals should burst into tears when they look at their treasury?
Alas, there was a time when a company worth 50 billion dollars could be called a great one. It's good now, a zero may need to be added after this. "
Philson smiled bitterly, this year at the end of the century, for those traditional local tyrants. It was a catastrophic year. Not to mention the heavy industries like steel and chemical industries, they basically suffer from vomiting blood.
Gold, oil, minerals, normally speaking, these things are used to fight inflation. Of course, it is completely useful.
"Ignore, boss, it seems that this is the attitude. They just sent a marketing manager. Although they also expressed their concerns, they were more of a mockery of the committee."
"Damn, he can't do it, right? So, William White doesn't care about the mergers and acquisitions of US Online?"
"Yes, boss, I don't mean to get into trouble."
"Andy, what did the think tank say, do the new guys have any different opinions?
Alas, am I getting old? All the time, those like to come to us to dig a wall. Once upon a time, we actually lost the advantage of talent. "Okay, the old guy thinks too much. The high-end talents in the securities industry have a relationship between teachers and students, and William White can dig a few. Let alone PK with Morgan Stanley, it is also inferior to those smaller brokerages.
"Ahem, boss, there are indeed differences. However, they don't seem to be able to come up with any data.
Therefore, their opinions are reserved. "
"Uh, that's OK?"
"Ahem, Boss, I went through the communication just now. One of the guys said when I was anxious.
If this kind of merger is not conducive to NBC Online, William White is afraid it would have been shot long ago. However, all the data show that the merger of Miguo Online and Time Warner can greatly enhance their competitiveness.
Ever since, this has formed a paradox. "
"Well, I know what it means. It's just an attitude. Let's look at it again. One thing must be certain. William White is a cautious person. If it can really threaten his status, he will never ignore it."
The old guy didn't know, even William White himself was not so sure. At the very least, he has no way to determine short-term stock price fluctuations.
No way. In today's world, other things have changed. At the very least, the IT industry has changed beyond recognition. There may be many reasons for the failure of the US Online in another time and space. However, the disturbance by the Federal Trade Commission is definitely a very important factor.
What does the Internet care about?
Quickly, if you can't do this, everything else is very nonsense. Either it has been imitated or annexed by others. If it can't rise in a short period of time, then don't say anything.
As for the Trade Commission?
This is a group of the most traditional old guys. If you expect them to be efficient, that would be a big joke.
Over 100 billion mergers and acquisitions, even if William White is a disapproving attitude, these old guys are not likely to let you pass the test easily.
Then, what about the European Commission?
It's just a way to learn, you dare to shoot the first shot, believe it or not, these guys dare to go shirtless. Anyway, you will be fined hundreds of millions at that time, and then delayed for a year or a half, hum, I don't believe you have any temper.
Keke, so what, is there a way?
Of course there is, since it is the base camp of conservative forces. So, who should go to lobby, this does not need to be considered.
What, this is a robbery with open fire. How could it be possible? Didn't it mean the lighthouse country? Didn't it mean the dish cooking? You can't even do fair trades, and you still have nothing to say. Is this too shameless?
If you are right, it is shameless. Since there are such great benefits, why do you have to face it?
Look at the later so-called high-tech companies, the huge to sensational Google, the unscrupulous acquisition everywhere must die, and the rotten apple that collects tolls. One family is counted as one, and there is no monopoly.
However, antitrust is more like a joke to them. The most is to pay the protection fee, which is all.