The Conglomerate Family Became A Villain [EN]: Chapter 97

97. Spring and Summer of 1984 (3)

This was Lyra Marine’s second visit to Boston. She liked the city’s quaint atmosphere.

“Are you saying that you can launch the American service this fall?”

Jung Hyun-woo nodded, confirming her question.

“I can’t give you an exact date yet, but according to Young Bolton’s report, the American service is progressing faster than expected.”

He had designated Young Bolton, the head of Team 2, to collaborate with Bank of America.

“I hope the exact date is finalized soon.”

The reason Lyra Marine wanted to know the exact service launch date was for marketing purposes.

She and Bank of America hadn’t yet established a marketing schedule for the American service.

“I will notify you as soon as the beta service schedule is set.”

Lyra Marine clasped her hands together and asked,

“Has the person to be dispatched to this branch been decided?”

The head of the American service’s overall development team was Young Bolton. However, the individual to be stationed at Bank of America hadn’t been chosen yet.

“The project manager has been decided, but the person for the branch hasn’t been selected yet.”

“I see.”

Lyra Marine turned to the side and said,

“Louis, do you have anyone to recommend?”

Louis Nolan was the former main manager of JP Morgan. He had served as the head of JP Service for nearly a year.

“It would be great if we could bring in Mr. River, but if that’s not possible, I think Mr. Crawford would also be a good fit.”

Jung Hyun-woo tilted his head, surprised by the mention of Joel Crawford.

‘How does this guy know Joel?’

Joel Crawford was an MIT graduate with skills comparable to John River.

‘Maybe he heard about him from John.’

Lyra Marine listened to his suggestion and then sought Jung Hyun-woo’s opinion.

“We’re considering Mr. Crawford here; would that be acceptable?”

Jung Hyun-woo, like Lyra Marine, turned his head toward Sarah, who was sitting beside him.

“Do you think Crawford would be a good choice?”

Sarah had only met Joel Crawford a few times, but she understood why Jung Hyun-woo was asking her.

‘I need to show that I’m giving this serious thought.’

She answered his question in a soft voice.

“I think Crawford would be fine.”

Jung Hyun-woo listened to her answer and turned his gaze back to Lyra Marine.

“We will assign Crawford as the head of the New York branch.”

“Thank you for considering our request.”

The conversation with Lyra Marine flowed smoothly. After the equity transaction with JP Morgan, there were no further obstacles to the collaboration between the two companies.

As the conversation neared its end, she asked him slyly.

“Mr. Jung, how did you ‘cook’ Mr. Hamilton?” (meaning, how did you convince him?)

Lyra Marine was simply curious about Jung Hyun-woo’s method of securing $1 billion from Neil Hamilton.

Louis Nolan, listening nearby, clicked his tongue inwardly.

‘Tsk, he’s lying without batting an eye.’

He was the one who had witnessed the conflict between JP Morgan and Victoria Corporation from the sidelines.

‘Mr. Hamilton, Sean, and I were all kicked out of the company.’

Regardless of his thoughts, Jung Hyun-woo’s answer was truthful. He spoke frankly about the future of Victoria Corporation and JP Service, and Neil Hamilton simply acknowledged it and committed $1 billion.

“The right argument worked? Is that what you mean?”

“Mr. Hamilton simply recognized the value of JP Service and agreed with its future prospects.”

Lyra Marine leaned forward slightly and asked,

“Charlie, then, can we also buy shares in Victoria Corporation?”

Jung Hyun-woo placed both hands on the table.

“Investments are always welcome, but you’ll have to pay the same price as JP Morgan.”

$1 billion for 10% of the shares.

This meant the price wouldn’t change.

Lyra Marine leaned back and smiled.

“Of course.”

She thought JP Morgan had acquired Victoria Corporation’s shares at a premium.

‘The fair price for Victoria Corporation would be less than $200 million for 10% of the shares. But valuable opportunities always come at a cost, so there’s nothing I can do.’

Bank of America could also acquire shares in Victoria Corporation, depending on the project’s progress.

“May I ask one more question?”

Jung Hyun-woo replied with a gentle smile.

“Of course.”

“How do you manage the money you received from JP Morgan?”

Jung Hyun-woo and Sarah had received a substantial $1 billion from JP Morgan.

“I put it in a fund.”

“A fund?”

The reason Lyra Marine raised her voice was that Jung Hyun-woo’s money management seemed too conventional.

Jung Hyun-woo asked her in return,

“Is that surprising?”

Lyra Marine nodded at his question.

“It’s quite unexpected. Didn’t you mention before that Victoria Corporation has an investment genius?”

Jung Hyun-woo had inflated the value of Victoria Corporation by highlighting Sarah’s investment skills.

‘Hmm, she didn’t forget that.’

He didn’t deny her statement.

“Of course, we could potentially achieve a better return through direct investment.”

Lyra Marine raised her voice.

“But you still invested in a fund?”

“Since we received a large sum from JP Morgan, I thought it was appropriate to entrust its management to them.”

His response answered all of Lyra Marine’s questions.

‘Ah, JP Morgan essentially got the $1 billion back as a fund investment.’

She considered this a reasonable arrangement.

‘The ownership of the $1 billion has changed, but the money is still circulating within JP Morgan.’

JP Morgan and Bank of America were banks, so they were particularly sensitive to cash flow.

“Coexisting with JP Morgan. Is that what you mean?”

Jung Hyun-woo nodded, accepting her interpretation.

“There was some initial friction, but they are an important partner for Victoria Corporation.”

Lyra Marine spoke as if summarizing the day’s discussion.

“I’m glad the issues between the two companies have been resolved.”

This sentiment was sincere.

If the relationship between the two companies became strained, Bank of America would face more disadvantages than benefits.

Just as they were about to conclude the meeting, Lyra Marine raised her right hand, as if remembering something.

“Ah! Come to think of it, there’s a rumor circulating on Wall Street these days.”

Jung Hyun-woo tilted his head.

“What rumor are you referring to?”

“Morgan Stanley is trying to develop something?”

Morgan Stanley was a banking group founded by the grandson of J.P. Morgan and was a significant rival to JP Morgan.

“Morgan Stanley?”

Lyra Marine nodded emphatically.

“According to the rumors, it’s an online system related to securities. Frankly, I suspect Morgan Stanley is trying to replicate JP Service.”

If Morgan Stanley attempted to replicate JP Service, Victoria Corporation would have no choice but to block them with a lawsuit.

“It’s one challenge after another.”

It was at that moment, as he sighed, that Louis Nolan, who had been listening quietly, spoke up.

“Mr. Jung, you don’t need to worry too much. Even if Morgan Stanley tries to do something like that, it won’t be easy to accomplish.”

JP Morgan had also considered replicating JP Service in the past.

However, they had concluded that replicating JP Service in a short timeframe would be difficult.

“I find that quite comforting.”

Lyra Marine added a comment.

“If a conflict arises, we’ll offer our assistance, so don’t worry.”

They were in the same boat.

That’s what she was implying.

“I feel reassured by Miss Marine’s words.”

The two exchanged a few more pleasantries and concluded the meeting.

On the way home, Sarah asked Jung Hyun-woo,

“Are you really going to sell them?”

Jung Hyun-woo was sitting next to her.

“Are you referring to the shares?”

“Yes.”

If they sold additional shares to Bank of America, Jung Hyun-woo and Sarah could once again make a substantial profit.

“What do you think, Sarah?”

Sarah sighed briefly.

“Ha, if you only consider the money, you have to sell them unconditionally.”

“What if you don’t focus solely on the money?”

“Seeing major companies like JP Morgan and Bank of America getting involved, I wonder if there’s something valuable in our company that we’re overlooking.”

Jung Hyun-woo crossed his arms and raised his voice.

“Isn’t it because both companies believe in the future I’ve envisioned?”

“Is that all there is to it?”

“Then what else could it be?”

“I think the competitive drive to not fall behind may also be a factor.”

Jung Hyun-woo turned his gaze out the window.

“Then we should sell the shares even more. It means our company’s value is being overestimated.”

“Is that how you see it?”

“That’s right.”

Sarah turned the steering wheel and said,

“There’s one more problem.”

Jung Hyun-woo couldn’t help but tilt his head at her words.

“More problems?”

“Yes.”

Jung Hyun-woo unfolded his arms and asked,

“Is it a problem I haven’t considered?”

“Maybe?”

“What kind of problem is it?”

Sarah answered his question succinctly.

“Management rights.”

Management rights.

That was indeed a concern.

To maintain control of a company, you needed to own 51% of the shares.

Currently, Jung Hyun-woo’s stake was 62%, so there was no issue in maintaining management control.

However, if he sold shares to Bank of America again, his stake would be reduced to 55%.

Only 4% away from 51%, and if the company went public in this situation, his stake could fall below 50%.

“You’re saying that the 50% threshold could be breached.”

Sarah nodded.

“That’s right.”

Jung Hyun-woo said calmly, as if it didn’t concern him.

“I’m not worried about management rights.”

“What do you mean? You’re not worried about management rights?”

“I have my sister.”

Jung Hyun-woo’s stake could fall below 50%, but if he combined his stake with Sarah’s, he could maintain 70%.

“Charlie, aren’t you relying on your sister too much?”

“If I don’t trust my sister, who am I going to trust?”

“Hmm, it’s nice to hear, but I feel like I’m being manipulated.”

Jung Hyun-woo lowered his voice and said,

“I wouldn’t have come this far without Sarah.”

It wasn’t just words.

For him, a minor, to start a business in the United States, he needed a trustworthy and intelligent partner.

‘I was very fortunate to meet her.’

If it had been someone else, he might have become a struggling developer caught up in the Atari shock [the video game crash of 1983], let alone be in this position.

‘If not, I might have returned to Korea.’

Sarah took his words with a bright expression.

“It’s still nice to hear.”

“It’s not just nice to hear; I’m simply stating the truth.”

Sarah slowed down the car.

“I feel a little relieved after talking to you, Charlie.”

Relieved.

What was she relieved about?

“Relieved?”

“You were only looking at Lyra throughout the meeting today.”

“That’s because Lyra is the meeting partner…”

Sarah cut him off and asked,

“Isn’t it because Lyra is beautiful?”

She was a blonde, blue-eyed beauty, and Sarah seemed to feel a bit jealous of Lyra Marine, who had red hair.

Jung Hyun-woo waved his hands and vehemently denied her words.

“Absolutely, absolutely not.”

Sarah chuckled at his exaggerated movements.

“Okay, I’ll believe you today.”

Jung Hyun-woo sighed deeply and said,

“Hoo, that’s a relief.”

Before they knew it, they had arrived in front of the house.

Click.

Sarah turned the key, and the car turned off.

“Parking success!”

She looked particularly cheerful.

“It’s something you do every day.”

Jung Hyun-woo was about to gather his belongings when Sarah raised her voice.

“Ah! That’s right!”

Jung Hyun-woo narrowed his brows at her high tone.

“Don’t tell me we left something at the meeting place?”

He didn’t want to go back.

“It’s not that. I remembered something I wanted to tell you, Charlie.”

“Something you wanted to tell me?”

Sarah nodded and replied,

“Yes.”

“Is it related to the shareholding ratio?”

“No.”

“Then what is it?”

“I had Anne conduct an investigation.”

As the number of Victoria Corporation employees increased, Anne also became Jung Hyun-woo’s secretary.

“Anne investigated?”

Sarah nodded and said,

“There’s a company you mentioned before, Charlie.”

Jung Hyun-woo couldn’t help but narrow his brows.

‘What company was I talking about?’

Soon, his question was answered.

“You said it was Dell, right?”

Dell Computer.

Jung Hyun-woo’s eyes widened.

“You investigated Dell?”

“Not me; Anne investigated.”

“So?”

“She couldn’t find a company named Dell, but she said there was a company that recently sold custom computers through newspaper advertisements.”

The biggest feature of Dell Computer was mail order using newspaper advertisements instead of offline stores.

‘Dell significantly lowered the unit price by selling cheap, assembled PCs through mail order.’

He quickly asked,

“What’s the company name?”

“It was PC’s Limited.”

“PC’s Limited?”

The name was completely different from Dell Computer.

‘Dell Computer must have become Dell Technologies later.’

Maybe it wasn’t Dell Computer. He was about to reach that conclusion when Sarah added,

“Anne did some research and found out that the owner of PC’s Limited was Michael Dell. Isn’t that a coincidence? Dell Computer, Michael Dell.”

Jung Hyun-woo’s eyes began to shine.

“Michael Dell?”

“Um? Do you know him?”

“Sarah, can we contact them?”

Sarah asked him in return,

“What does Charlie want? Collaboration? Or the company itself?”

“I think it’s a good company to work with either way.”

Sarah raised her right index finger and shook it from side to side.

“Hey, young man. It’s going to be difficult if you don’t clarify your intentions.”

She believed that you shouldn’t start a business without setting a clear objective.

Jung Hyun-woo also understood her point. He calmed his excitement and said,

“The best outcome would be to acquire the company, but what if we consider investing as a second option?”

Sarah raised her right arm and struck a pose like Arnold Schwarzenegger.

“This sister will try her best one more time.”

It meant she would step up for Jung Hyun-woo once again.

“Sarah, aren’t you overdoing it?”

Sarah flexed her arm and replied,

“Overdoing it? What are you talking about?”

“You barely reduced your overtime.”

It meant that if the workload increased, she would have to work overtime again.

Sarah lowered her arm and said in a soft voice,

“If I create a lot of debt now, Charlie will pay it back big later, right?”

Jung Hyun-woo chuckled at her words.

“Okay. If it’s my sister, I’ll pay you back tenfold.”

“Really?”

“Really.”

The atmosphere between the two was friendly for the first time in a while.

.