fictionpage Chapter 210 Even bigger news is coming.
Chapter 210 Even bigger news is coming.
Chapter 210 Even bigger news is coming.
The day before, YueDong Games and Ernst were all the rage in the financial news, but the next day they were hit with a bombshell and disappeared without a trace.
The company that dropped this bombshell was Enron, a powerful corporation based in Houston, Texas.
On August 1st, a press conference that was enough to send shivers down the spines of the American business community took place.
The setup at the press conference was so extravagant that even calling it opulent seemed a bit conservative; it highlighted Anran's long-standing image of being wealthy and powerful.
In the spacious hall, crystal chandeliers hung like a sky full of stars, each one so bright it was dazzling. The light shone on the guests, making them look as if they were instantly plated with gold.
The reporters had set up their cameras early, their lenses gleaming like mirrors, their eyes filled with anticipation for a big story.
Before long, Enron's top executives took to the stage one after another, making a scene like the entrance of a movie protagonist.
The applause from the audience immediately erupted, so enthusiastic it could have lifted the roof off; an uninformed person might have thought it was a concert by a top celebrity.
Finally, the last person to appear was Enron's core figure, Enron CEO Skilling. He walked steadily to the front of the stage, a confident smile on his face, and then calmly stood in front of the microphone.
"Distinguished guests and journalists, today is a landmark day for Enron." Skilling's voice was steady and powerful, echoing in the hall. Every word seemed to have a magical power, instantly silencing the entire room until you could hear a pin drop.
"I am now officially announcing that Enron will fully enter the market maker business."
,””
These words immediately caused an uproar in the audience.
The market-making business in the energy sector is an unprecedented innovation.
However, one company broke it: Enron.
Enron, leveraging its leading position in the natural gas industry and its abundant information resources accumulated over many years, pioneered the establishment of a natural gas forward trading market, allowing natural gas prices to be traded like stocks.
Enron would act as a market maker, much like the trading departments of Wall Street investment banks, taking on risks and profiting from the price differences.
It was precisely because of the market maker business that Enron's stock grew rapidly, giving it its current influential status and power, spanning both political and business circles.
Everyone astutely grasped the word "comprehensive," meaning that Enron was no longer satisfied with natural gas trading but wanted to venture into more energy projects.
So as soon as Skilling finished speaking, the previously agitated audience fell silent instantly, and the reporters, who had been unable to contain themselves, immediately raised their hands, like a suddenly rising forest of flesh, so dense that it was dazzling.
"Mr. Skilling, I'm a reporter from The Wall Street Journal." A man in a dark suit and gold-rimmed glasses was the first to have a question.
He leaned forward slightly and asked eagerly, "Although Enron has been very successful in the natural gas forward trading market, there are no mature precedents in other energy sectors. How does Enron mitigate the risks brought about by price fluctuations? In the event of a large-scale default, does the company have sufficient financial reserves to cope?"
The question was quite pointed, but Skilling's smile didn't fade at all. He gestured for the reporter to sit down, his voice still steady, "This is a very crucial question."
"As you said, Enron doesn't lack established precedents in other energy sectors, but rather it has absolutely no experience, so I thank you for your tact."
Upon hearing this, many people in the audience laughed, and the reporter who asked the question also smiled and nodded in acknowledgment, as if to say: You're welcome.
"But what I want to say is that energy is an interconnected field, and the experience that Enron has accumulated in the natural gas trading market can be completely replicated in other energy futures markets."
"As for the risks you mentioned, we have assembled a team of 20 senior risk control experts from Wall Street. These 20 experts are all veterans who have been working in the risk control field for more than ten years, and their experience is so rich that they could write several textbooks."
"They monitor market fluctuations in real time, and no slightest movement escapes their notice. In addition, we have signed risk hedging agreements with several Wall Street institutions to diversify and transfer some of the risks, which is equivalent to giving the company double insurance."
"Finally, there's the issue of cash reserves. Whether it's Enron's current cash flow or the commitments made to us by major banks, I can say with certainty that Enron has the capacity to handle any extreme risks that may arise. Please rest assured, everyone and all investors."
Skilling's answer was impeccable, and another round of applause erupted from the audience. But before the applause could subside, the second reporter eagerly stood up.
This was a female reporter from CBC, speaking at breakneck speed, as if afraid of missing a question if she hesitated even for a second: "Mr. Skilling, we all know that the energy industry is heavily influenced by policy, which can change drastically in an instant. If the government introduces policies to restrict the financialization of energy in the future, will Enron's market-making business face the risk of being shut down? Does the company have any alternative plans?"
Skilling turned his gaze to the female reporter, his eyes showing more certainty, as if he had expected someone to ask this question. "We have already communicated closely with the Congressional Energy Committee, so there is absolutely no need for you to worry about this."
"Whether it's Enron's past development in the natural gas futures market or the gradual clarification of policies, I can say with certainty that the path of energy financialization will only become more relaxed in the future. Currently, the policy orientation is more inclined to encourage innovative trading models rather than restrict them. So please rest assured about policy risks."
Skilling's third question was directed to a local Texas newspaper. The question wasn't as pointed: "Mr. Skilling, what kind of comprehensiveness does Enron refer to, and specifically, which energy sectors?"
"Good question!" Skilling gestured, clearly satisfied with the question.
"In fact, Anran's entry into other energy futures markets is not reckless; on the contrary, we are very cautious. After all, it is our first time expanding into other businesses, and we have to take it one step at a time, not blindly stumble around like headless flies."
"Therefore, we prioritized the power and timber businesses. Investors trust Enron, and Enron needs to demonstrate our sincerity to investors. As long as Enron can manage the futures business in these two sectors well, I think all the doubts will be dispelled, and Enron will then be able to enter more energy sectors."
As soon as the press conference ended, the news spread like wildfire throughout the financial markets and across the United States.
The media, which was originally discussing the financing of YueDong Games, immediately shifted their attention to AnRan.
Inside the stock trading hall, the scene was as bustling as a vegetable market. Traders stared intently at the Enron stock price chart on the screen, not daring to blink for fear of missing any fluctuation.
Enron's stock price soared like a rocket, its curve rising sharply in a short period of time, with an astonishing increase that made people's hearts jump out of their chests.
The traders were shouting excitedly, their keyboards nearly worn out from typing, filling the hall with a tense yet enthusiastic atmosphere.
Financial media outlets across the United States also sprang into action, as if injected with adrenaline. Major television networks urgently adjusted their programming schedules, without hesitation interrupting to broadcast news of Enron's full entry into the market-making business.
This is enough to show how influential Enron is. Not to mention YueDong Games, even if Microsoft suddenly announced a change of ownership today, it probably wouldn't be able to steal the headlines from Enron.
Ernst watched the news from his luxurious bed in his mansion. Seeing Skilling's triumphant appearance on TV and the soaring Enron stock, a sneer curled his lips. "Enron's stock price is probably going to break records again. Who can steal your thunder this August?"
"Pfft—" On the large bed, a young girl suddenly spat out the California sausage in her mouth, looked cautiously at Ernst, her eyes full of expectation, "Then can we buy some Enron stock? Maybe we can make a lot of money."
Ernst looked away from the television and onto the little girl's delicate, fair skin.
He knew perfectly well that this assistant, personally chosen by Annie, had an unusually strong sense of purpose.
Before he could even give any hints, the girl came to him on her own initiative. Her little schemes were completely transparent to Ernst.
"Do you have money?" Ernst asked with a faint smile.
Seeing the little girl shake her head, he already knew what she was going to say next.
The young girl is quite cunning, thinking that this will allow her to climb the social ladder, but she's still too naive.
He knew from what Massim had told him about Anne's complaints that the girl had probably overheard him again.
I wonder if she'll complain again now about the abuse of her assistant?
Ernst knew that once Massim found out about this, it wouldn't be long before this little scheme disappeared from the world.
While outsiders may not understand, it's impossible for Massim not to understand during this peaceful press conference; Ernst's influence has undoubtedly risen once again.
Anne caused this mess by bringing in this troublesome person, and Massim can't possibly leave this mess unattended to avoid any scandals or misunderstandings later on.
Anyone who could climb into Ernst's bed so easily was clearly no good, which is why Ernst was so fearless.