America 1919-Chapter 815 - 279, New Jersey Consortium_2
Chapter 815: 279, New Jersey Consortium_2
Additionally, the race club is a joint investment by Surf Hotel and Starry Media.
Among Donnie’s industries, some are undoubtedly leaders in their sectors.
Surf Hotel, ABC, United States Logistics, and Apollo Chain are among the best. Once Pandora Oil Company and Sinclair Oil Corporation complete their restructuring, plus the extraction rights of Baku Oil Field, Donnie can also be called a dominant power in the oil sector of the United States!
In this meeting, Donnie did not engage in much small talk with everyone but directly stated his thoughts.
Firstly, Cres Investment Company will be directly integrated into Venus Bank, becoming Venus Bank’s investment division!
Secondly, Donnie will transfer all of his shares in every company to Venus Bank, meaning, from now on, Venus Bank will become the symbol of Donnie’s authority. It is also because of this decision that people outside are more willing to refer to the New Jersey Consortium as Venus Consortium!
Thirdly, Donnie announced that a Business Department would be established under Venus Bank, which will coordinate resources among the companies, ensuring that all company resources under Venus Consortium are rationally managed!
Of course, some are worried that this decision might slow down the operations of the companies under Venus Consortium.
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For this concern, Donnie forcefully made it clear to everyone that this is the decision, and everyone must accept it!
Actually, regarding this matter, Donnie is not ignorant of the potential negative impact, but he has absolute confidence that at least in the next twenty years, during the peak of his energy, these issues will not become problematic.
In these twenty years, Donnie will spin off these companies.
Simply put, what Donnie is doing now is consolidating his assets. Although the New Jersey Consortium has already taken shape, its power in the United States is not yet strong enough. If it were to act alone, it would be difficult to confront other consortia, so it’s better to concentrate all its strength.
It’s like a lion using full force to catch a rabbit!
When, in the future, the companies under Venus Consortium truly become dominant powers, Donnie will once again divide this huge business empire into pieces, by then they will have enough strength to face any opposing forces!
Fourth, Donnie declared that each of his companies should orderly end relationships with cooperative banks and transfer their funds to Breton Bank!
Only when these funds are under Donnie’s own control can he have complete control over these companies.
But this is not an easy task. Although the companies are owned by Donnie, others are in charge of actual operations. Donnie knows nobody is perfect, everyone has their ideas, and they all have their interest chains. No one can know if some people have already formed an interest chain with other banks during this process, so Donnie gave these companies a year’s time.
This is also Donnie signaling these people that he no longer cares about their previous interest chains, for the water that is too clear has no fish. But from now on, these people must contribute to the development of Breton Bank; this is something that must be done. If by then someone has not fulfilled this task, Donnie will make them leave and pay the price!
Fifth, Venus Bank will establish a Strategic Development Department, whose responsibility will be to strategize for the development of the entire consortium. This is different from the Business Department which is about operational matters; the Strategic Development Department is about the bigger picture.
The presidents of the various companies will serve here as planners of the Strategic Department. Moreover, the Strategic Development Department will also become a talent cultivation base for Venus Consortium.
The Strategic Development Department has significant power, so it will be directly managed by Donnie!
Beyond these five decisions, there were many more miscellaneous issues. The meeting took three full days to clearly discuss all matters, and afterwards, each was responsible for their respective tasks.
During these three days, the outside world also became aware of the meeting convened by Donnie, and although they could not determine the content of the meeting, they could guess some of it.
Therefore, the outside world referred to these three days as the founding days of the New Jersey Consortium!
Under such circumstances, journalists from the financial channels of major newspapers nationwide almost all arrived in Atlantic City to get some exclusive material, knowing that the establishment of the New Jersey Consortium could be described as an event that changed the business landscape of the United States!
But obviously, they were going to be disappointed. In the meeting, Donnie specifically instructed everyone that no details of the meeting should be disclosed to the public.
Also, it is not permissible to identify externally as the New Jersey Consortium or Venus Consortium.
Even though the mainstream of American business before the Great Depression was the establishment of various Trusts, Donnie also understood that jumping for joy now would mean being on the list later!
Even though Donnie has already formed a deep friendship with Franklin Roosevelt, if one regards a politician’s friendship as very important, then that person is doomed to fail.
Moreover, after the Great Depression, the general public will form an intense hostility towards these Trusts, and various severe anti-monopoly cases happened against such a backdrop.
