But it seems that except Xu Bin, others are very accustomed to meetings like this. Su Shiming, whose face is so blue, seems to be about to explode at any time, but overall, he has always been very tolerant.

He did not leave, "Affected by the subprime mortgage crisis, Hilton has indeed suffered losses since being acquired by Blackstone last year."

Xu Bin said in his heart that combined with Raulder and his previous remarks, Su Shiming's attitude seemed to be sincere enough.

"But no one of us knows that those losses are mainly losses on the books..."

Although in Xu Bin's opinion, Su Shiming was very earnest, Rauld interrupted him without hesitation, "Stephen, no one cares now. Is this a loss on the books?"

"At this time, no one will pay attention to such an explanation. Everyone can only see the numbers that are constantly falling, and as the numbers that are falling are getting bigger and bigger, everyone will only be less optimistic about it,"

Gary Cohen immediately continued the boss's words, "Bear Stearn also said that my loss is just a loss on the books. As long as we have sufficient funds, we can still operate efficiently," he said.

"Lehman also said that my losses are just losses on the books. After all, so many commercial real estate are there. When the trough of housing prices passes, they can bring us a steady stream of returns."

He smiled like a hand owed, "But, who cares about this in the end?"

"Not only did no one care about these things, not only did they have to sell them, but no one even wanted them for sale. In the end, they were also despised by everyone,"

Although the smile on his face made people feel that his hands were owed, his words were irrefutable.

It is not because of such a market environment, not because no one will borrow money from other people, but just recycle money. Whether it is Bear Stearn or Lehman, even if they lose all their capital, they will not have the opportunity to make a comeback with their ability.

However, they don't have that opportunity.

Not only that, because they sell their bodies and go bankrupt, they are indeed despised by everyone.

For industry insiders, their results have aggravated everyone's panic and thus made the situation of their peers more difficult.

For people outside the industry, the reason why they can’t even keep the company is naturally because they operate irresponsibly, so they naturally believe that their companies naturally have to bear greater responsibility for the subprime mortgage crisis.

Su Shiming glanced at the people around him and confirmed one by one that they were still breathing. Why can't you learn Gary Cohen like a mute?

His three subordinates were also helpless. Although the other party's words were very slutty, they were not rough.

Moreover, the way this meeting was opened was completely different from what we expected, so the preparations at home were useless.

But when the boss saw this, he was too rude and had to mess around. One of them coughed, "There is a black man behind Hilton..."

As soon as he said the word "black", he heard the boss coughing heavily, and there was unabashed annoyance in the cough. Am I saying the wrong thing?

He looked at the opposite side again, and Raulder and the others looked at him with a smile, and their eyes were full of encouragement. Yes, I was saying the wrong thing - but he really didn't know where he was wrong.

He immediately closed his mouth.

It’s you who tells me, and it’s you who tells me to shut up. Woooo, the baby is feeling bitter.

Su Shiming had to do it himself again, "Although there are indeed some losses on the books, since we took over Hilton, we have made a series of fruitful improvements to it..."

Raulder interrupted him again, "The result of the fruitful improvement is that cash flow shrinks by more than 40, operating costs rise by more than 30, and total revenue shrinks..."

Su Shiming knocked heavily on the table, "That's because we've been expanding Hilton's size,"

"Even in such a difficult situation at present, we have no choice but to stop the pace of expansion..."

"Hilton's size has indeed increased compared to the acquisition, right?" Gary Cohen asked Xu Bin on his side.

Although they are also clear about these data, he remembers that Xu Bin has not had the chance to speak yet.

Raulder doesn't have to care about these things. As Raulder's deputy, he must pay attention to these small details.

Xu Bin nodded, "Yes, the scale has expanded by less than 3, but the reason for the scale has been expanded mainly because," he glanced at Su Shiming, "the projects that Hilton had already started before the acquisition,"

To put it bluntly, these achievements have nothing to do with you.

If you insist on making contributions, it means that you did not cut or suspend these projects after you took over.

"So you see," Gary Cohen smiled and spread his hands at Su Shiming.

On Su Shiming's side, there was finally another person who helped the boss, "But in order to save money, we could have cut off these projects..."

His words were also interrupted, and Gary Cohen, "Although we, Goldman, have not operated a hotel business, I also know that the result of cutting off the originally planned projects will not only be impossible to save money, but will also cause a lot of trouble."

As he said this, the four of them, looking at the eyes of Su Shiming's subordinates, could probably be described by a line from Bruce Lee in "Jingwumen", "I read less, don't lie to me,"

Xu Bin took the initiative to speak out, "Also, not all of these newly added projects have increased their expenses. As far as we know, some of Hilton's hotel projects in China have not occupied much capital,"

Such things are not uncommon in the country.

Many investment projects are now said to be invested in as much as possible, but many of these investments are verbal, but the loans provided by local financial institutions are real.

Those capable guys can really spend a very small price, and while obtaining a lot of preferential conditions, they can also get funds for operation from the bank.

A well-known international company like Hilton will naturally not be difficult to get such treatment.

Su Shiming sighed and wondered why I only brought you three products today (Three Dragon Supporter: Isn’t it hard for us to steal your words?).

He had to go on the battle in person once again, "Roulder, everyone,"

“Anyway, I believe everyone must agree with Blackstone’s expertise in the hotel industry,”

"Xu," he looked at Xu Bin, "You must also know that Blackstone's layout in the hotel industry, and in terms of high-end hotels, we already have lxr luxury resorts,"

Xu Bin nodded, of course he knew this.

LXR Luxury Resort was after Blackstone acquired Wyndham International Group in 2005 (not the current Wyndham International Group. Shortly after Blackstone acquired the Wyndham brand to the top three in the international hotel management group, which has long been ranked among the top three in the international hotel management group). Afterwards, they named the original Wyndham hotel and other 14 high-end hotels acquired at the same time as lxr.

"In 2006, we also acquired the budget hotel chain. Now, ta is the best budget hotel in the United States,"

“Hilton Hotel Group is the most important part of our hotel industry layout,”

After owning Hilton, Blackstone can be said to have its own brand in the three high, medium and low areas of the hotel industry.

"We agree to show our sincerity, but, everyone, how do you treat our sincerity?" He picked up the report again, "Your assessment, in a year or two months, its value has shrunk by more than 83?"

"That is, after we handed over the Hilton Hotel to you, we still owe you $16 billion in loans,"

"Roulder, who do you think would agree to such a deal?"

From what he said, Raulder and his friends asked were indeed too much.

But Raulder smiled softly, "Actually, we don't want to be so troublesome. Look at Stephen, as long as you can repay our loan, why should we talk about Hilton?"

"Yes, in the current downturn in real estate and in the current situation of funds being so tight, who would be willing to use valuable cash to invest in projects like Hilton that are closely related to real estate?" Gary Cohen also said.

Their meaning is very clear. If you have the ability, you will pay back the money!

Su Shiming almost spit out his old blood at this time. If I could still draw 20 billion US dollars now, no, even if it was 10 billion US dollars, would he still talk like this with you?

A strong sense of humiliation surged into the hearts of the king of private equity on Wall Street.
Chapter completed!